Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 13, Problem 2DCS
Summary Introduction
To discuss: The type of product or service people need near the campus and the way marketing of that new product or service can be done.
Introduction: Marketing is an activity in which set of programs are created, communicated, delivered and exchanged so that value can be added for the customers and other clients as a whole.
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4. How easy will it be for others to enter the market and provide the same product or service?
a. Describe your business model. How do you imagine your business operating to create and deliver value to customers?
b. Give highlights of how your business will be organized to make it effective and efficient in delivering customer value.
c.Briefly describe the strategies your business will employ, e.g.
d. Production strategy
e. Marketing strategy – including pricing, promotion, and distribution.
f. How will you deploy your resources, especially human resources to achieve the business goals?
There are literally 100’s of different definitions of marketing available on the internet, and even marketing textbooks will use their own definition of what marketing is all about.
And in the business world, especially across industries, you will find that different firms and different managers have a somewhat unique view of the role of marketing.
As you probably know already however, the key goals of marketing are to:
generate long-term profits,
deliver customer satisfaction, and
improve the competitive strengths of the organization over time.
But let’s now have a very simple look at the role of marketing based on these three goals. The above marketing goals are really all about getting and keeping customers. This means that can we break marketing down to three simplistic responsibilities:
Attract new customers (Get)
Grow share of customer (Build)
Retain profitable customers (Hold)
In other words – GET – BUILD – HOLD customers. Clearly, there is a whole array of marketing…
What is a product or service that you feel was almost made just for you? How do you think the entrepreneurs who designed it knew you would feel that way?
Chapter 13 Solutions
Understanding Business
Ch. 13.1 - Prob. 13.1AQCh. 13.2 - Prob. 13.2AQCh. 13.2 - Prob. 13.2BQCh. 13.2 - Prob. 1TPCh. 13.2 - Prob. 2TPCh. 13.2 - Prob. 3TPCh. 13.3 - Prob. 13.3AQCh. 13.4 - Prob. 4TPCh. 13.4 - Prob. 5TPCh. 13.4 - Prob. 6TP
Ch. 13.5 - Bass pro Shops offers a vast arrays of products...Ch. 13.6 - Prob. 7TPCh. 13.6 - Prob. 8TPCh. 13.6 - Prob. 9TPCh. 13.6 - Prob. 10TPCh. 13 - Prob. 1CECh. 13 - Prob. 2CECh. 13 - Prob. 3CECh. 13 - Prob. 4CECh. 13 - Prob. 1CTCh. 13 - Prob. 2CTCh. 13 - Prob. 3CTCh. 13 - Prob. 4CTCh. 13 - Prob. 1DCSCh. 13 - Prob. 2DCSCh. 13 - Prob. 3DCSCh. 13 - Prob. 4DCSCh. 13 - Prob. 5DCSCh. 13 - Prob. 1PPTCh. 13 - Prob. 2PPTCh. 13 - Prob. 3PPTCh. 13 - Prob. 4PPTCh. 13 - Prob. 1VCCh. 13 - Prob. 2VCCh. 13 - Prob. 3VC
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