Short Answer Questions on Marketing

Short Answer Questions on Marketing Marketing 1) Explain impulse products. Identify two challenges marketers may have regarding impulse products. Impulse products are over counter goods that are unplanned sale in the business. The products are bought on impulse, and they include items like women magazines, chocolate, candy, key holders and attractive snacks displayed in shops and supermarkets. Some of the challenges facing impulse marketing are competition and difficulties in advertising of their products. A lot of money is invested in convincing the consumers on the efficiency of their products. Online branding is another challenge facing impulse marketing. It involves branding and marketing a product on the internet. The process demands that a firm should use customers approach so as to win the market. 2) Explain durable and nondurable goods. Give an example of each. Durable goods are long-term goods that have future accrued benefits to the consumers. They are products that cannot be directly consumed and are bought on occasional situations. Examples of the products are; farm machinery, electrical appliances, furniture, motor vehicles and weapons. Non-durable goods are short-term direct consumption goods. These are goods like food, clothing and laundry materials. Their consumption is on regular basis and people rely on them in their daily life. 3) Why might ad expenditures remain high in the growth stage of the product lifecycle? The growth stage of a product is a crucial stage after the introduction in the market. A firm spends increased amount of capital in advertising and familiarize the product to the consumers. A producer must convince the customer on the benefits of the product. The marketer tries to show how good the item is compared to others from competing firms. Advertising is done using banners and posters, the media and magazines. Other costs are faced during modification of the products to suit customers opinions and needs. This is done to gain a competitive advantage. When a firm succeeds at this stage, returns are usually high and little costs incurred. 4) A car company is marketing a new car model that is larger and more luxurious than any of the models currently in the product line. It is also significantly more expensive. Explain the strategy this car company is using with its product line. A firm applies the 4 Ps marketing strategy to ensure a successful marketing of the new model in the product line. This strategy involves product, price, place and promotion of a good.Product means the design and specifications of the car model. Price of the model, the discount and time allowed to clear payment of the vehicle. Lastly, is the location of the business and the promotion and advertising techniques used in the marketing of the new model. 5) Why is the appearance and functionality of a service company's Web site important? An attractive website appearance is one of the good qualities of a successful company. A good look attracts a customer and positive judgments are achieved in the consumers. Initial impression to a customer determines the confidence towards a firm and professional website is the key in capturing the customers. Proper functioning of the websites components is another feature that builds trust in the consumer. It prevents frustrations and disillusionment of the organization. Errors in hyperlinks and online forms should be avoided to maintain quality and reliable website. 6) Discuss the social and physical dimensions of the service encounter, explaining how marketers can use these dimensions to improve the quality of the service encounter. Service meeting is the time when a consumer is receiving a service. Physical dimension is the structural business organization. This influences service quality and customers views of utility. Improved physical appearance in a business influences positive consumer perception (Binter, 1990, p 70). Social dimension involves the cultural influence on the consumer behavior. Traditions and beliefs affect the understanding of the people towards particular products. For a business to thrive well, service marketers have to interact and understand different cultural backgrounds and provide products in line with the culture (Bianchi, 2001, p. 48). 7) List and describe the three types of quality attributes that service marketers can use to explain the benefits of their services. Which quality attribute is most likely to be used with tangible products? A service marketer can use the following attributes to illustrate the benefits of their services: Firsts is the design quality. A marketer displays the integrity of the services being offered to consumers. This adds confidence in the customers and encourages consumption and increases the need. Second are the runtime qualities which involve availability, security and reliability of the services they offer. The benefits of firms products are described by the runtime qualities that lead to the effectiveness of the products. The design quality applies to both service and tangible products in marketing. The design of an item to suit customers utility exhibits its effectiveness, efficiency and durability. 8) Describe what a demand curve is and explain how it helps businesses. The demand curve is the locus of points showing the relationship between price amount a customer is willing and able to buy. It is useful in pricing of products in the business. High pricing scares aware the customers while low prices leads to little or no profits to the business. 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