Marketing
7th Edition
ISBN: 9781260428292
Author: Grewal, Dhruv
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 11, Problem 6MA
Summary Introduction
To discuss: Whether person X is loyal to any brand beyond he likes the brand with reason.
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Students have asked these similar questions
Consumers often rationalize their purchase of a new product with a statement such as "I bought it because it was on sale 15% off the original price." What ate the prospects that this type of customer will become a loyal consumer to this product? What must happen in order for such customers to become loyal to the product and hopefully the brand?
Identify a product important to you that you purchased where you felt that the seller had done a particularly good job of understanding your needs and helping you select and truly benefit from the purchase and use of the product. What were the aspects of design of the product and/or the whole product that you believed were at the heart of this very favorable experience?
How might you "ask customers not to buy"?
Give specific examples of how you have either developed a brand loyalty or how you’ve moved on to a different brand because a company did not follow effective principles for converting new customers into highly committed customers for life.
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- A product that a potential buyer knows about but is not actually seeing is called an "unsought" product. Do you feel that the continued marketing of unsought products is unethical? Also, discuss how marketing ethics figure into decisions on branding, packaging and labeling of products.arrow_forwardThere are three factors that add value to the brand as perceived by consumers. Conduct research on one retail clothing brand and give your assessment of how well it delivers added value in terms of all of the following: Risk reductionarrow_forwardDescribe the current competitive market for your product. Can you identify the number of brands or the market share that they hold? Expand your analysis to include other products that are similar or could be substituted for yours.arrow_forward
- Select a product with which you are familiar (Please do not use any APPLE products). Based on your knowledge of the product lifecycle, what types of changes will occur to your selected product? How will this affect the marketing of your selected product?arrow_forwardWhen presenting your ideas to a potential buyer, what are some ways to stand out and have them choose your product.arrow_forwardWhat are the potential risks if the marketing mix is not considered?arrow_forward
- Provide an original example of a product or service to which you are brand loyal, meaning no other brand can be substituted. How long have you been using this particular brand? Explain the reasons for your brand loyalty. Consider the four aspects of market segmentation, and describe how the company segments the market for this particular product or service.arrow_forwardSelect a product you are familiar with. Do research about that product. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?arrow_forwardYou are a brand! To manage any brand effectively, you must carefully be in touch with what you think about your brand and what your consumers think of your brand. Understanding how the brand is perceived internally and externally is critical to building and managing a strong brand. Each student will develop and present their unique brand. The objective of this assignment is for you to practice using brand-building concepts in developing a brand that you should not only know extremely well but be well-versed enough to explain the brand, its features, values, challenges,and future growth – YOUarrow_forward
- How do switching costs impact the danger of a powerful buyer?arrow_forwardA product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want. Products can be classified into consumer products and industrial products. List and briefly explain the four classifications of consumer products and provide examples for each.arrow_forwardHow do you respond to fraudulent marketing practices that you have personally or to others? Are fraudulent marketing practices based on price, promotion, product or packaging? Briefly describe one such incident in detail.arrow_forward
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