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2.2 The Role of Marketing in the Strategic Planning Process
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the role of marketing in the strategic planning process. 2 Discuss the business portfolio and identify planning tools. 3 Describe a SWOT analysis. 4 List and describe...
Closing Company Case
Blue Zones When adventurer Dan Buettner set off around the world, riding his bike and visiting far-off destinations, he put a way of living into motion. Through the study of various communities around the world, Dan discovered pockets where populations of o...
Chapter Summary
This chapter defined consumer markets and consumer buying behavior and discussed the buyer’s black box, the concept that attempts to mark the pattern consumers follow when making a purchase decision. It also categorized consumer buying behavior into four types...
3.4 Ethical Issues in Consumer Buying Behavior
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe ethical issues related to consumer buying behavior. 2 Identify the characteristics of an ethical consumer. Ethical Issues in Consumer Buying Behavior...
3.3 The Consumer Purchasing Decision Process
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the first stage in the consumer purchasing decision process. 2 Summarize the second stage in the consumer purchasing decision process. 3 Describe the third stage in th...
3.2 Factors That Influence Consumer Buying Behavior
LEARNING OUTCOMES By the end of this section, you will be able to: 1 List and describe the cultural factors that influence consumer buying behavior. 2 Explain the social factors that impact consumer buying behavior. 3 Discuss the personal fa...
3.1 Understanding Consumer Markets and Buying Behavior
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define consumer buying behavior. 2 Explain the nature of the buyer’s black box. 3 Describe how consumer behavior is characterized into types. Consumer Markets a...
In the Spotlight
Figure 3.1 Understanding consumer purchasing decisions is important because it allows companies to better influence those behaviors. (credit: modification of work “Hong Kong Street Market” by Bernard Spragg. NZ/flickr, Public Domain) Chapter Outline ...
References
1. “About Us,” Contact Frito-Lay, PepsiCo, accessed June 5, 2022, https://contact.pepsico.com/fritolay/about-us. 2. Werner Geyser, “10 of the Best Marketing Strategy Examples to Power Your Campaigns,” Influencer Marketing Hub, updated August 1, ...
Marketing Plan Exercise
Complete the following information about the company and products/services you chose to focus on as you develop the marketing plan throughout the course. You may need to conduct research in order to obtain necessary information. Instructions: Using the Market...
2.3 Purpose and Structure of the Marketing Plan
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the purpose of a marketing plan. 2 List and discuss elements that should be included in a marketing plan. Purpose and Structure of a Marketing Plan A...
What Do Marketers Do?
Consider the city where you live. Why do you live there? Why have businesses chosen to locate there? Call your Chamber of Commerce and ask to speak to the chamber director or marketing director. Ask the following questions: Have you used strategic planning ...
Building Your Personal Brand
There are many brands that recognize the benefits of hiring brand ambassadors. Red Bull is one of these brands. Because college students constitute a major portion of its target market, Red Bull relies on student ambassadors (also called Marketeers) to interac...
Critical Thinking Exercises
1. Like Clorox and Zoom, Peloton was poised to the seize market opportunities created by the COVID-19 pandemic and stay-home mandates ordered by cities and states. Research Peloton and construct a timeline of key Peloton events from 2020 through 2022. Wh...
Applied Marketing Knowledge: Discussion Questions
1. Your university annually evaluates the current and possible value of its strategic business units (SBUs). The university may examine its majors as SBUs, or it may examine each college, school, or division’s performance while recruiting students. Use a...
Key Terms
BCG matrix Boston Consulting Group’s framework for analyzing an organization’s strategic business units business portfolio the group of products, services, and business units that a company possesses business-level strategy outline of the ac...
Chapter Summary
This chapter explores the topic of marketing strategy in more detail. Strategy starts with understanding where a company is, where it wants to go, what the operating environment looks like, and what tools it has to work with or could acquire. The foundation of...
2.5 Ethical Issues in Developing a Marketing Strategy
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the importance of ethical marketing. 2 Describe key ethical considerations in strategic planning. 3 Discuss examples of ethical companies. The Import...
2.4 Marketing Plan Progress Using Metrics
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define marketing metrics. 2 Explain key performance indicators (KPIs). 3 Provide examples of business objective KPIs. 4 Characterize sales/revenue generation KPIs. 5 Provi...
Key Terms
4Ps the “marketing mix”—product, price, promotion, and place attitudes a learned set of emotions, beliefs, and behaviors developed toward a particular brand, object, person, thing, or event beliefs ideas that a person holds as being true ...