3.Examine an opportunity.Let's Try ThisGiven a situation: Product offers a value proposition to customersExample: Products or services can be described as solving some problem or meeting some need for thecustomer. For instance, a binder clip will hold more pages than a paper clip, solving a problem forcustomers who need to clip more sheets than a paper clip will hold without damaging the papers ordeforming the paper clip.Exercise: Solve the problem of holding a door open. Imagine that you need to enter a door with your handsfull of packages, for instance, how can you pass through doorway without using your hands? List productsor services that prevent a door from closing when there is a need for it to be held open.Let's Learn ThisABSTRACTION1.What is opportunity seeking?2. How do you identify an opportunity?3. What are the different sources of opportunities?What is opportunity screening?5. What are the 12R's in screening opportunity?4.

Products and services are used to identify and solve a customer need or requirement. Companies…

Answered: Exercise: Solve the problem of holding…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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magine you are a consultant hired to advise the Board of Directors about an innovative development that can lead the company to either sell a new product or enter a new market for an existing product. The company is a chicken farm that exports eggs 1. give an overview of the new product idea or new market. There must be a rationale/justification for, the product/service/ new market, This must be clearly described and a unique value proposition should also be included here.
Identify and briefly discuss the key product strategies for those motor vehicle companies listed in the case. How are these strategies likely to impact competition in the motor vehicle industry that they are operating in? (No more than 1 page)Chicago Referencing12 Font Size 1.5 Spacing
1(b) From the perspective of a sales department and a Strategic Sales Manager, discuss the effect of the PESTLE Analysis. Suggest ONE factor from three of the six external influences (PESTLE) that may be upsetting the business process(es) you have chosen and ONE factor from three of the six external influences (PESTLE) that may interrupt customers’ experiences.
22. Some arque that an SIS gives a company an unfair advantage and might even cause thedemise of smaller, weaker companies that cannot afford to build similar systems. Is this good orbad for customers? Explain your opinion.
Why should you apologize to customers if you or your company erred? What is the best way to do it? (L.O. 3) In searching for a job, how can you build a personal brand, and why is it important to do so? (L.O. 3) How do chronological and functional résumés differ, and what are the advantages and disadvantages of each? (L.O. 4
n Class, 10–25 Minutes for Teams Assume that you haverecently been hired by a firm that manufactures furniture. you feel that marketing should have an input intosupplier selection for the firm’s products, but the purchasing department says that should not be a concernfor marketing. you need to explain to the departmenthead the importance of the value chain perspective. In arole-playing exercise, explain to the purchasing agent thevalue chain concept, why it is of concern to marketing,and why the two of you should work together
For Tiktok, substantiate the basis for the proposed value proposition and target customer. You must include an analytical framework for the value proposition (e.g. the value proposition canvas or the value line approach) and substantiate the customer segment. The framework must seek to clarify the next best/most competitive customer solution/offering. It must also seek to quantify how much value accrues to the customer per dimension of value.
Consider the following additional information – R&D and selling expenses are substantially higher for Zderm because it is a new product. Jim has strongly supported development of the new product, including the high selling and R&D expenses. He has assured the Board of Directors that the Zderminvestment will pay off in improved profits for the firm. Discuss the ethical issues, if any, facing Jim as he reports to top management on the profitability of the firm’s two products.
1. What is the most recent group to be incorporated into product benefits? a. Resource benefits b. Functionl benefits c. Core values d. Sensory benefits 2. Which element would be categorized in the macro-environment for managers at Ben & Jerry’s? a. Ingredients b. Flavors c. Prices d. Cultural beliefs 3. For a customer to satisfy a need, he or she will need to search for information about how to satisfy that need. Which of the following is NOT true about the information search process? a. The customer begins by searching his or her memory for information or experiences to satisfy the need. b. If the customer does not have then information, he or she will search externally, and family and friends will be a reliable source. c. The information search generally begins with the general and narrows as the customer refines the search. d. With the growth in information available on-line, the information search step in the model will be eliminated and the model changed. 4. A true…
A member of an enterprise is participating in the execution of a service of Marketing advisory, in which he was responsible for being a Costumer Analyst Success, that is, responsible for receiving customer feedback and bringing solutionsi n case of any problems. Recently, Dr. Antonio gave a feedback saying that the team did not participate much and that bothered him, evaluating the team with a grade 3/10. What solution would you bring to this situation? How would you overcome this problem, what would you do as a member of the team?
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1. Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder, however, at the thought of $2 bottles of water, $150 running shoes, and $500 concert tickets. Take a position: Prices should reflect the value that consumers are willing to pay versus prices should primarily just reflect the cost involved in making a product or service. 2. Less than a third of new product ideas come from the customer. Does this percentage conflict with the marketing concept’s philosophy of “find a need and fill it”? Why or why not?

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Exercise: Solve the problem of holding a door open. Imagine that you need to enter a door with yo full of packages, for instance, how can you pass through doorway without using your hands? List or services that prevent a door from closing when there is a need for it to be held open.