Is it a good strategy to focus most marketing efforts on the most profitable customers?
> Experts predict that the Internet, social media, and e-business will continue to expand along with related computer technologies. What effect will this expansion have on how businesses connect with customers in the future?
> What distinguishes a B2B from a B2C e-business model?
> Is outsourcing good for an e-business firm? The firm’s employees? Explain your answer.
> How can a small cosmetics wholesaler located in Jacksonville, Florida, use e-business and social media to increase its customer base, increase revenues, and reduce expenses?
> Given the fast pace of everyday life, most people often feel there is not enough time to do everything that needs to be done. Yet, people do find time to post personal information, photos, etc., on Facebook, Twitter, blogs, and other social media sites.
> If a middleman is eliminated from a marketing channel, under what conditions will costs decrease? Under what conditions will costs increase? Will the middleman’s functions be eliminated? Explain.
> 1. Social Media Exercise 1. After exploring @Comcast cares on Twitter, do you think that this helps with customer service? Why or why not? 2. Do you see other applications for Twitter for a communications giant like Comcast? 2. Building Team Skills 3. Re
> Many producers sell to consumers both directly and through middlemen. How can such a producer justify competing with its own middlemen?
> Identify three kinds of full-service wholesalers. What factors are used to classify wholesalers into one of these categories?
> What is the difference between publicity and public relations? What is the purpose of each?
> Identify and give examples of the three major types of salespersons.
> Identify and describe the major ingredients of a promotion mix.
> What is integrated marketing communications, and why is it becoming increasingly accepted?
> What are the most common marketing channels for consumer products? For industrial products?
> What is the difference between manufacturer brands and store brands? Between family branding and individual branding?
> What are the four stages of the product life-cycle? How can a firm determine which stage a particular product is in?
> If you were the financial manager of Stars and Stripes Clothing, what would you do with the excess cash that the firm expects in the second and fourth quarters?
> Of the three financial ratios discussed in this chapter, which do you think is the most important financial ratio? Why?
> What can be said about a firm whose owners’ equity is a negative amount? How could such a situation come about?
> Bankers usually insist that prospective borrowers submit audited financial statements along with a loan application. Why should financial statements be audited by a CPA?
> How might buyers’ perceptions of price influence pricing decisions?
> 1. Social Media Exercise 1. Do you think social media is an effective way to engage employees who are in large organizations? Why or why not? 2. Do you think social media would work well in smaller companies? Why or why not? 3. Do you think that using so
> How can confidential data and information (such as the wages of individual employees) be kept confidential and yet still be available to managers who need them?
> In what situations might a producer use agents or commission merchants rather than its own sales offices or branches?
> What is physical distribution? Which major functions does it include?
> What can nonstore retailers offer their customers that in-store retailers cannot?
> List the services performed by wholesalers. For whom is each service performed?
> What are the three levels of market coverage? What types of products is each used for?
> Why do firms use event sponsorship?
> What are the major differences between consumer and trade sales promotion methods? Give examples of each.
> What are the major tasks involved in managing a sales force?
> For what purposes is labeling used?
> What does the purchaser of a product obtain besides the good, service, or idea itself?
> What is the difference between a line extension and a brand extension?
> Why must firms introduce new products?
> Why do products have to be deleted from a product mix?
> What major factor determines whether a product is a consumer or a business product?
> For what type of products are psychological pricing strategies most likely to be used?
> Under what conditions would a business most likely decide to employ one of the differential pricing strategies?
> Under what conditions would a firm be most likely to use non-price competition?
> Some firms do not delete products until they become financially threatening. What problems may result from this practice?
> Identify and describe the main types of discounts that are used in the pricing of business products.
> Why do marketers need to understand buying behavior?
> What are the five major categories of pricing strategies? Give at least two examples of specific strategies that fall into each category.
> Compare and contrast the characteristics of price and non-price competition.
> What new information technologies are changing the ways that marketers keep track of business trends and customers?
> How is a marketing-oriented firm different from a production-oriented firm or a sales-oriented firm?
> How does the marketing environment affect a firm’s marketing strategy?
> Is marketing information as important to small firms as it is to larger firms? Explain.
> How does employee participation increase motivation?
> Describe the steps involved in the MBO process.
> What combination of motivational techniques do you think would result in the best over-all motivation and reward system?
> What is a marketing plan, and what are its major components?
> Of the laws discussed in the text, which are the most important, in your opinion?
> Why are there so many laws relating to HRM practices?
> As a manager, what actions would you take if an operations employee with six years of experience on the job refused ongoing training and ignored performance feedback?
> What are the major benefits and limitations associated with the use of self-managed teams?
> How accurately can managers plan for future human resources needs?
> Why is it so important to provide feedback after a performance appraisal?
> Suppose that you have just opened a new Ford sales showroom and repair shop. Which of your employees would be paid wages, which would receive salaries, and which would receive commissions?
> How is a job analysis used in the process of job evaluation?
> According to expectancy theory, what two variables determine motivation?
> According to equity theory, how does an employee determine whether he or she is being treated equitably?
> Describe the forces in the marketing environment that affect an organization’s marketing decisions.
> What are the five levels of needs in Maslow’s hierarchy? How are a person’s needs related to motivation?
> How is a forecast of human resources demand related to a firm’s organizational planning?
> How did the results of the Hawthorne Studies influence researchers’ thinking about employee motivation?
> 1. Describe how financial leverage can increase return on owners’ equity. 2. For a corporation, what are the advantages of corporate bonds over long-term loans? 3. Describe the three methods used to ensure that funds are available to redeem corporate bon
> 1. What are the advantages of financing through the sale of stock? 2. From a corporation’s point of view, how does preferred stock differ from common stock? 3. What is venture capital? An angel investor? A private placement?
> 1. How important is trade credit as a source of short-term financing? 2. Why would a supplier require a customer to sign a promissory note? 3. What is the prime rate? Who gets the prime rate? 4. Explain how factoring works. Of what benefit is factoring t
> 1. Describe the traditional banking services provided by financial institutions. 2. What are the major advantages of electronic banking services? 3. How can a bank or other financial institution help American businesses to compete in the global marketpla
> 1. What is the function of a cash budget? A capital budget? 2. What is the difference between equity capital and debt capital? 3. Describe the four sources of funds for a business. 4. How does a financial manager monitor and evaluate a firm’s financing?
> 1. How does short-term financing differ from long-term financing? Give two business uses for each type of financing. 2. What is speculative production? How is it related to a firm’s cash-flow problems?
> 1. For a business firm, what type of activities does financial management involve? 2. To be successful, what traits and skills does an employee in the finance industry need?
> What is the purpose of market segmentation? What is the relationship between market segmentation and the selection of target markets?
> 1. What are the benefits of comparing a firm’s current financial information with information for previous accounting periods, with industry averages, and with financial information for competitors?
> 1. What is the purpose of the statement of cash flows? 2. In a statement of cash flows, what is included in the operating activities section? In the investing activities section? In the financial activities section?
> 1. What is the difference between a balance sheet and an income statement? 2. Explain how a retailing firm would determine the cost of goods sold during an accounting period. 3. If a retailer has revenues of $700,000, cost of goods sold that total $270,0
> 1. How are current assets distinguished from fixed assets? 2. Why are fixed assets depreciated on a firm’s balance sheet? 3. How do you determine the dollar amount of owners’ equity for a sole proprietorship, or a partnership, or a corporation? 4. If a b
> 1. What purpose do audits and GAAPs serve in today’s business world? 2. How do the major provisions of the Sarbanes–Oxley Act affect a public company’s audit procedures? 3. Based on the information in this section, would you choose accounting as a career
> 1. List the five functions of an MIS. 2. What are the components of a typical business report? 3. What types of information could be illustrated in a visual display? In a tabular display?
> 1. How do the information requirements of managers differ by management area? 2. What happens if a business has a management information system that is too large? 3. What happens if a business has a management information system that is too small?
> 1. In your own words, describe how information reduces risk when you make a personal or work-related decision. 2. What are information rules? How do they simplify the process of making decisions? 3. What is the difference between data and information? Gi
> 1. Experts predict that the Internet will continue to expand along with related technologies. What effect will this expansion have on businesses in the future? 2. Give an example of an unethical use of computer technology by a business. 3. What is the di
> 1. What are the two fundamental e-business models? 2. Assume that you are the owner of a small company that produces outdoor living furniture. Describe how you could use the B2C business model to sell your products to consumers?
> What are the major components of a marketing strategy?
> 1. What are the four major factors contained in the definition of e-business? 2. How do e-businesses generate revenue streams, reduce expenses, and earn a profit?
> 1. What are the steps required to develop a social media plan? 2. What is the difference between quantitative and qualitative measurements? Which type of measurement do you think is the most reliable when measuring the effectiveness of a company’s social
> 1. In your own words, describe how social media can help businesses to connect with other businesses and consumers. 2. For a business, why are crisis and reputation management, listening to stakeholders, and targeting specific types of customers importan
> 1. What is a blog? How can a business use blogs to develop relationships with customers? 2. What types of content can be used on a media sharing site? What factors should be considered when developing content for a media sharing site? 3. Describe two way
> 1. According to material in this section, what are the reasons why people use social media? 2. How has social media changed the environment for business firms?
> 1. What are the common tools of public relations? 2. What is publicity, and why do organizations use it? 3. What are the four common types of publicity?
> 1. Why do marketers use sales promotion? 2. What are the two classifications of sales promotion methods? 3. What factors affect the choice of sales promotion used?
> 1. What are the advantages and disadvantages of using personal selling? 2. Identify the three types of salespersons. 3. Describe the six steps of the personal-selling process.
> 1. Describe the major types of advertising by purpose. 2. Explain the eight major steps in developing an advertising campaign.
> 1. What are the major elements of a promotion mix? 2. How can each element help a firm reach a target market?
> In what ways are team cohesiveness and team conflict related?
> 1. What is the major goal of integrated marketing communications? 2. Why is integrated marketing communications being increasingly accepted?
> 1. How is inventory management a balancing act between stock-out costs and holding costs? 2. Explain the seven major warehousing activities. 3. What is the goal of materials handling? 4. Describe the major characteristics of the primary transportation mo
> 1. Describe the major types of retail stores. Give an example of each. 2. How does nonstore retailing occur? 3. What are the four most common types of shopping centers, and what type of store does each typically contain?
