Principles of Marketing (16th Edition)
16th Edition
ISBN: 9780133795028
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Chapter 9, Problem 9.22MML
Summary Introduction
To discuss: The term crowdsourcing, the reason for the company utilizing it in the new product development with an example.
A product is a service or physical item that can be offered or made to a customer in order to satisfy their wants and needs.
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Define crowdsourcing and explain why companies use it in new product devel- opment. Describe an example of a company using crowdsourcing this way.
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1.there are significant differences between B2B and B2C marketing. conduct additional research in order to describe the difference B2B and B2C markeing in terms of market structure.
2. explain the five stages of relationship building in B2B and B2C marketing with the use of a practical examples.
Chapter 9 Solutions
Principles of Marketing (16th Edition)
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- Explain the concept of strategic planning? how data-driven marketing is used in social media ? omni-channel retailing advantages? what is virtual communities in social media? what are the benefits of EA and ERP? the use of enterprise data mashups?arrow_forwardHow MakeMyTrip is using collaborative CRM.?arrow_forwardCreative Homework/Short Project Select a companyand identify an existing product sold by that companythat could potentially be further developed to meetnew consumer needs. Using the selected product, develop an approach to engage consumers in the processof value co-creation with the objective of developing anew version of the selected productarrow_forward
- Define crowdsourcing in your own words. Include an example of a business successfully applying this concept.arrow_forwardMobile phone, once seen as a fashion accessory, has been one of the fastest growing technologies and necessities in the world to date. Against the backdrop:1. Interpret and describe the significance of the role of product designers in light of what was already know about products2. Explain any new understanding.3. Propose a model to that effectarrow_forwardWhat specific marketing activities does Copper-tone utilize to help Coppertone grow in themarketplace?arrow_forward
- THE THREE WAYS TO IDENTIFY AN OPPORTUNITY INCLUDE: a.Observing trends, conducting brainstorming sessions, and studying industry trade journals. b.Observing trends, solving a problem, and finding gaps in the marketplace. c.Studying industry trade journals, talking to consumers, and solving a problem. d.Reading books, solving a problem, and findings gaps in the marketplacearrow_forwardHow does Sprout use differentiation and positioning to build relationships with target customers?arrow_forwardWhich is larger, B2B or B2C e-marketing?arrow_forward
- The product/market expansion grid is a useful strategy for identifying growth opportunitiesin a market. Explain how SAMSUNG can apply these strategies to assess its growthopportunities in the mobile handset market.arrow_forwardWhat is the difference between corporate brand strategy and product or services branding as describe in the rest of the text? Why might gaps emerge between identity, image and culture, how does B2B branding differ from B2C? Are the similarities and crossovers?arrow_forwardLocate three different types of websites that cater to markets discussed in this chapter. How do these differ from sites like eBay or Overstock.com? How are they similar? B2C models like Groupon and LivingSocial are being adopted by B2B companies. Examples include Bizy Deal; take a look at their site and identify the types of offerings that seem prevalent. What characteristics of the product or service would make such a model right for a B2B company?arrow_forward
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