CHAPTER 1 :
List and the compare the five marketing management philosophies. Be sure to indicate the key components of each philosophy. 1-Production concept – The idea that consumers will favor products that are available or highly affordable. 2-Product concept – The idea that consumers will favor products that are of high quality, performance and features. 3-Selling concept – The idea that consumers will not buy enough of a firm’s products unless it is known on a large scale from its selling and promotion effort. 4-marketing concept – The idea that reaching organizational goals is attached to knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors in the same markets 5-Societal marketing concept – The idea that a company should consider consumers’ wants, the company’s requirements, consumers’ long-term interests, and society’s long-run interests in making marketing decisions.
CHAPTER 2 :
Define marketing control. Next identify what are the differences between operating control and strategic control. Marketing control is the measurement and evaluation of results obtained from the market and responding to these results by taking corrective action if necessary. There are two types: Operating control and Strategic control. Operating control is the day to day control taken to ensure that actions are consistent with established planes and objectives. Strategic control focuses on monitoring, tracking and evaluating effectiveness of the implemented strategies and make adjustments accordingly if necessary.
The Essay on Explain The 5 Marketing concepts
Firms and businesses, approach and conduct business in different ways in order to achieve their organizational goals. There are five competing concepts by which firms and business are guided in their marketing effort. The first three concepts production, product and selling, focus all on the product. The last two concepts marketing and societal marketing, focus on the customer. However, the ...
CHAPTER 3:
Discuss THREE (3) reasons that business legislation has been enacted. Give illustration of each reason. The three reasons that business legislation has been enacted are namely: jointly, concurrent and simple resolution. 1-Jointly resolution is a legal measure that demands agreement of two parties and forwarded to a higher rank of authority of law (president) for evaluation and approval or disapproval. Joint resolution are general used for; creating temporary commissions or ad hoc bodies, temporary exceptions to existing laws, declare war, take permanent position of territories, etc… 2-Concurrent Resolution is also a legal measure that demands agreement of two parties but does not require approval from an authority of law. It is used mostly for internal affairs such as awards or recognition. 3-Simple Resolution is a legal measure that undergoes one party and does not require approval from an authority of law. Usually used for establishing rules that must followed for each body to operate.
CHAPTER 4:
Compare the advantages and disadvantages of the various methods for collecting survey information. The methods for collecting survey information are through questionnaire, interview and focus group discussions. The advantages of questionnaire surveys are; data can be easily quantifiable, reliable data-gathering tool, extremely quick, low error rates and one-time collection of wide variety data. The disadvantages are; filtering effective data from useless data can be time consuming, expensive and labor-intensive. The advantages of Interview survey are; they provide wide range of useful data for detailed analysis, interviewer can decide on follow-up questions and if the interviewer provides 100% direct involvement, the response rate will be 100% too.
The disadvantages are; good interviewers require a certain amount of training, time-consuming if face-to-face interview is applied, analysis of data can be very challenging. The advantages of Focus groups are; popular form of data collection in terms of effectiveness, economical instrument of gathering data. The disadvantages are; participants may provide feedback in favour of others, participants are reluctant to provide their point of view, participants may be influenced by the opinions of the leader who shares or portrays their own opinions and over reacting when discussions reach at a high rate of contradiction from other members.
The Term Paper on Database Needs for Early Learning Programs
The Outcomes and Targets for the recently passed Families and Education Levy are very high. At the heart of the levy is accountability and using data in timely ways to improve annual outcomes. In the realm of Early Learning the dollars will double and the number of children and professional staff served will increase dramatically. The need for reliable, accessible data is great. An HSD IT web ...
CHAPTER 5:
People differ in their readiness to adopt or try new products. Take each of the five adopter groups and give a synonym or brief description of each primary characteristic that sets each particular apart from the others. The Five adopter groups are; Innovators, early adopters, early majority, late majority and laggards. -Innovators are risk takers who are the first users in the target market. (2.5% of the market) -Early adopter are the opinion leaders who are bound by prestige. (13.5% of the market) -Early Majority are the leading segment of the mass market. (36% of the target market) -Late majority are followers of the early majority. (36% of the target market) -Laggards are the conservative, price conscious segment. (14% of the target market)
