Marking questions about: flow of products, price and value in the marketing mix, market structures, and development process for new products

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timer Asked: Mar 6th, 2019
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Question Description

Q1 How do companies manage the flow of products and services from production to the final consumer?

Q2 What are the roles of price and value in the marketing mix? How do market structures, costs, and demand affect prices?

Q3 How do firms manage all of their products and services? What are the steps in the best development process for new products?


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Marketing: Defined, Explained, Applied Second Edition Michael Levens Walsh College Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montréal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Executive Editor: Melissa Sabella Editorial Project Manager: Kierra Bloom Development Editor: Laura Town Director of Editorial Services: Ashley Santora Editorial Assistant: Elisabeth Scarpa Director of Marketing: Patrice Lumumba Jones Senior Marketing Manager: Anne Fahlgren Marketing Assistant: Melinda Jensen Senior Managing Editor: Judy Leale Sr. Production Project Manager/Supervisor: Lynn Savino Wendel Senior Operations Supervisor: Arnold Vila Operations Specialist: Cathleen Petersen Sr. Art Director/Design Supervisor: Janet Slowik Art Director: Steven Frim Text and Cover Designer: Michael Fruhbeis Cover Art: Shutterstock Manager, Rights and Permissions: Hessa Albader Editorial Media Project Manager: Denise Vaughn MyLab Product Manager: Joan Waxman Media Project Manager: Lisa Rinaldi Full-Service Project Management: Bookmasters, Inc. Composition: Integra Software Services, Ltd. Printer/Binder: Courier/Kendallville Cover Printer: Lehigh-Phoenix Color/Hagerstown Text Font: 10/12 Minion Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2012, 2010 by Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458. Library of Congress Cataloging-in-Publication Data Levens, Michael. Marketing : defined, explained, applied / Michael Levens.—2nd ed. p. cm. Includes bibliographical references and index. ISBN 978-0-13-217715-3 (pbk. : alk. paper) 1. Marketing. I. Title. HF5415.L47568 2011 658.8—dc22 2010039067 10 9 8 7 6 5 4 3 2 1 ISBN 10: 0-13-217715-3 ISBN 13: 978-0-13-217715-3 Brief Contents | Brief Contents PART 1 2 Explaining Chapter 1 – The Meaning of Marketing Chapter 2 – The Market in Marketing 2 14 Chapter 3 – Planning and Marketing in an Organization Chapter 4 – A Broader Perspective on Marketing Chapter 5 – Global Marketing PART 2 Creating 38 52 68 Chapter 6 – Value for Customers 68 Chapter 7 – A Perspective on Consumer Behavior Chapter 8 – Consumer Insight Chapter 9 – The Brand PART 3 82 96 114 Strategizing 130 Chapter 10 – Segmenting, Targeting, and Positioning Chapter 11 – The Marketing Plan PART 26 4 130 146 Managing 162 Chapter 12 – Product and Service Strategies Chapter 13 – Pricing Strategies 162 178 Chapter 14 – Supply Chain and Distribution Strategies Chapter 15 – Retailing and Wholesaling Strategies 196 210 Chapter 16 – Advertising and Sales Promotion Strategies 224 Chapter 17 – Personal Selling and Direct Marketing Strategies PART 5 Integrating 254 Chapter 18 – The Communications Mix Chapter 19 – The Marketing Mix 254 272 Chapter 20 – Marketing Performance Management 298 Appendix Notes 334 Glossary Index 341 355 284 238 iii iv | Contents Contents Explaining 2 PART 1 Competitive Environment Technological Environment Consumer Markets (Chapters 1–5) Consumer Markets Applied Business Markets 19 19 20 Business Markets Explained Chapter Outline Marketing 2 Business Markets Applied 3 20 21 Business Markets Marketing Explained 3 Marketing Applied Visual Summary Marketing Concept 4 23 Chapter 3 | Planning and Marketing in an Organization........................................26 5 Marketing Concept Explained Marketing Concept Applied 5 Chapter Outline 26 5 Planning Process Marketing Concept 27 5 Planning Process Explained Evolution of Marketing: Early Years Until 1950 Evolution of Marketing: 1950–Present 6 Planning Process Applied 6 Strategic Planning Evolution of Marketing: 1950–Present 27 27 29 7 Strategic Planning Explained Evolution of Marketing: Social Responsibility 7 Strategic Planning Applied Evolution of Marketing: Social Responsibility Marketing Functions 8 9 9 Strategic Planning, BCG Matrix Marketing Planning Internal Marketing Participants 9 External Marketing Participants Marketing Functions Applied 10 32 33 Marketing Planning, SWOT Visual Summary Chapter 2 | The Market in Marketing........14 14 15 Marketing Environment Applied 15 39 Marketing and Society Applied 16 Marketing and Culture Explained 16 Economic Environment 39 39 Marketing and Culture 40 16 Macroenvironment 38 Marketing and Society Explained 15 Microenvironment 34 Marketing and Society 15 Marketing and Culture Applied 17 33 Chapter 4 | A Broader Perspective on Marketing................................................38 Chapter Outline Marketing Environment Explained Macroenvironment 32 Marketing Planning Marketing Planning Applied 10 11 Marketing Environment 30 32 Marketing Planning Explained External Marketing Participants 9 Microenvironment 29 30 Strategic Planning, Teva Balanced Scorecard 31 Marketing Functions Explained Chapter Outline 21 3 Marketing Visual Summary 18 19 Consumer Markets Explained Chapter 1 | The Meaning of Marketing......2 17 Culture 40 40 40 Contents | Consumerism 41 Creating 68 PART 2 Consumerism Environmentalism 42 42 Environmentalism Marketing and the Law 43 (Chapters 6–9) 44 Marketing and the Law Explained Marketing and the Law Applied Regulations 44 Chapter 6 | Value for Customers..............68 44 45 Marketing and Social Responsibility 46 Marketing and Social Responsibility Explained Marketing and Social Responsibility Applied Social Responsibility 46 46 Chapter Outline 68 Customer Value 69 Customer Value Explained Customer Value Applied Customer Satisfaction 47 Corporate Social Responsibility 47 69 69 71 Customer Satisfaction Explained Customer Satisfaction Applied Visual Summary 48 71 71 Measuring Customer Satisfaction 72 Customer Satisfaction Chapter 5 | Global Marketing ..................52 Chapter Outline 52 Global Marketing 53 Global Marketing Applied 53 Global Marketing Environment 72 Customer Lifetime Value 73 73 55 Relationship Marketing 74 75 Customer Relationship Management Explained Customer Relationship Management Applied 57 Customer Identification 58 Customization Legal 59 Global Marketing Environment Applied Global Marketing Processes 76 Loyalty Programs 59 Technology 61 76 76 Visual Summary Global Marketing Processes Explained 75 76 76 Loyalty Programs 59 75 75 75 Customer Differentiation 58 Customer Interaction 78 61 61 Market Selection Market Entry Strategies Chapter 7 | A Perspective on Consumer Behavior ......................................................82 61 62 Global Marketing Strategy Chapter Outline 62 Global Marketing Processes Applied 63 Global Marketing Processes Visual Summary 74 74 Customer Relationship Management 57 Market Selection 74 Relationship Marketing Applied 55 Political Cultural The Value of a Customer Relationship Marketing Explained 55 Global Trade 56 Legal 72 Relationship Marketing 54 Global Marketing Environment Explained Political 72 Customer Retention 73 53 Global Marketing Economic Customer Loyalty Customer Retention Global Marketing Explained Global Trade v 64 82 Consumer Behavior 63 83 Consumer Behavior Explained Consumer Behavior Applied 83 83 vi | Contents Consumer Decision-Making Process 84 Consumer Decision-Making Process Explained Consumer Decision Making Chapter 9 | The Brand............................114 84 Chapter Outline 84 Consumer Decision-Making Process Applied 85 Brand Personal Influence on Decision Making 85 Age and Life Stage Affluence 115 Brand Explained 86 Brand Applied 115 115 Brand 87 Brand Equity Psychological Influence on Decision Making 87 Situational Influence on Decision Making 87 Purchase Environment Digital Environment 116 117 Brand Equity Explained Brand Equity Applied 88 Brand Valuation 88 117 89 Global Brand Equity Consumer Problem Solving Applied Building Strong Brands 91 91 Brand Positioning Brand Sponsorship Licensing 97 Brand Development 97 97 Marketing Research Applied 99 New Brands 99 Marketing Research Managing Brands 99 123 125 Managing Brands Applied 100 Brand Protection 125 125 125 Brand Protection 101 Visual Summary 123 123 Managing Brands Explained 100 Marketing Research, Syndicated Research 122 Brand Extensions Marketing Research Explained Design the Research 122 Line Extensions 99 121 122 Co-Branding Consumer Insight Applied Marketing Research 121 121 Brand Sponsorship 96 120 120 120 Brand Name Selection Chapter 8 | Consumer Insight..................96 119 120 Building Strong Brands Applied 92 Consumer Insight Explained 119 Building Strong Brands Explained 91 Consumer Problem Solving Define the Problem 118 Business-to-Business Brand Equity 91 Consumer Problem Solving Explained Consumer Insight 118 Global Brand Equity Consumer Problem Solving Chapter Outline 118 Brand Equity Groups 90 Visual Summary 117 117 Building Brand Equity Social Influence on Decision Making 88 Subculture 114 126 127 Marketing Research, Ethnographic Research 102 PART 3 Marketing Research, Internet Research Panel Conduct the Research Analyze the Research Strategizing 130 103 105 106 (Chapters 10–11) Address the Problem in a Research Report 106 Marketing Information System 107 Marketing Information System Explained Marketing Information System Applied 107 107 Marketing Information System Visual Summary 109 108 Chapter 10 | Segmenting, Targeting, and Positioning ..........................................130 Chapter Outline Segmentation 130 131 Contents | Segmentation Explained Segmentation Applied Segmentation Base 131 Interior Views LLC Executive Summary 131 Company Description, Purpose, and Goals 133 133 and Goals Demographic Segmentation 133 Psychographic Segmentation Segmentation Base Applied 134 134 151 Forecasting 135 153 Interior Views LLC Forecasting Segmenting International Markets 135 135 Interior Views LLC Marketing Strategy Measurement and Controls 136 136 Visual Summary Undifferentiated Marketing 137 159 Managing PART 4 162 137 138 (Chapters 12–17) Niche Marketing 138 138 Selecting a Target 158 137 Differentiated Marketing Global Targeting Chapter 12 | Product and Service Strategies ..................................................162 138 139 Positioning Explained Positioning Applied Chapter Outline 139 139 Positioning 139 163 Products and Services Explained Products and Services Applied 140 Perceptual Map Levels of Product 140 163 163 164 Levels of a Product 140 Developing a Brand Position Statement 140 Brand Position Statement Visual Summary 162 Products and Services Using a Perceptual Map Selecting a Position 141 Product Classifications 164 164 Product Classifications 165 New Product Development 165 142 New Product Development Chapter 11 | The Marketing Plan..........146 Chapter Outline Business Plan Business Plan Explained 147 147 Business Plan Marketing Plan 148 167 167 Product Portfolio 169 Product Portfolio Explained Product Portfolio Applied 169 169 Product Portfolio 149 Marketing Plan Explained Marketing Plan Applied Product and Service Quality Product Design 168 147 149 149 Executive Summary 149 166 Product-Development Steps—Roles and Requirements Product Design 146 Business Plan Applied 157 137 Undifferentiated Marketing Niche Marketing 157 Marketing Plan 136 Differentiated Marketing 155 Interior Views LLC Measurement and Controls 136 Targeting 153 Marketing Strategy 155 Segmenting International Markets Positioning 151 Interior Views LLC Company Marketing Situation Segmenting Business Markets Targeting Applied 150 150 Marketing Situation Segmenting Business Markets 134 Targeting Explained 149 Interior Views LLC Company Description, Purpose, Segmentation Base Explained Targeting vii Product Life Cycle 169 171 Product Life Cycle Explained Product Life Cycle Applied 171 171 167 viii | Contents Product Life Cycle and Marketing Strategies 172 Channel Strategies Applied Duration of the Product Life Cycle Channel Structure 172 Limitations of the Product Life Cycle Visual Summary 173 Channel Organization 200 Channel Management 174 199 199 200 Channel Strategies Chapter 13 | Pricing Strategies..............178 Chapter Outline 178 Establishing Prices Logistics Applied 179 Establishing Prices Applied 179 Physical Distribution Transportation 182 Warehousing Demand and Price Elasticity Chapter 15 | Retailing and Wholesaling Strategies ..................................................210 184 185 Chapter Outline Retailing Pricing Strategies Applied Retailing Explained 187 Retailing Applied 187 New Product and Service Pricing Strategies 188 New Product and Service Pricing Strategies 189 Auction Pricing Strategies 190 Portfolio Pricing Strategies 190 Price Adjustment Strategies 211 Nonstore Retailing 213 Nonstore Retailing Retail Strategies Retail Strategies Explained Retail Strategies Applied Atmospherics Location Chapter 14 | Supply Chain 215 Wholesaling Applied 197 197 Types of Channel Intermediaries 198 Marketing Channels 198 217 217 Wholesaling Types of Wholesalers 217 Merchant Wholesalers Agents and Brokers 217 217 219 Manufacturers’ Branches 199 199 215 217 Wholesaling Explained 197 Channel Strategies Explained 215 Retail Strategies Wholesaling 196 214 215 Retail Price Policy and Distribution Strategies ........................196 Channel Strategies 214 214 215 Promotion Marketing Channels Applied 213 214 Level of Service 191 192 Marketing Channels Explained 211 Merchandise Assortment 214 190 Price Adjustment Strategies Marketing Channels 211 Types of Retailers 188 Online and Storefront Pricing Strategies 189 Auction Pricing Strategies 211 187 Pricing Strategies Chapter Outline 210 187 Pricing Strategies Explained Visual Summary 207 184 184 Legal Requirements Pricing Strategies 204 205 Visual Summary Pricing Practices Explained 204 204 Physical Distribution 205 182 184 Legal Requirements 204 Physical Distribution Applied Demand and Price Elasticity 182 Pricing Practices Applied 203 Physical Distribution Explained 180 Cost-Based Pricing Pricing Practices 202 202 Logistics Systems 179 180 Cost-Based Pricing 202 Logistics Explained Establishing Prices Explained Market Structure Logistics 201 Visual Summary 220 219 Contents | Chapter 16 | Advertising and Sales Promotion Strategies ................................224 Chapter Outline 224 Step 6: Close the Sale Marketing Communications Applied 225 Sales Management 226 Sales Management Process 227 Setting Sales Force Objectives Force 229 229 245 Employee Training Direct Marketing 229 Sales Promotion 230 Direct Marketing Applied Mail Order 231 Sales Promotion Explained Sales Promotion Applied 233 Public Relations Applied 233 249 249 Consumer Privacy Public Relations Explained 249 Direct-Response Advertising 231 Internet Public Relations 249 Direct-Response Advertising 231 Sales Promotion 247 247 248 Telemarketing 231 246 247 Direct Marketing Explained Advertising 244 245 Evaluating the Sales Force Message and Creative Strategy 229 Media Selection 244 Recruiting, Compensating, Training, and Motivating the Sales 228 Advertising Budget 244 244 Developing the Sales Force Strategy Advertising Objectives 228 Visual Summary 250 251 233 Public Relations Sponsorship Visual Summary 244 Sales Management Process Applied 228 Advertising Applied 243 Sales Management Process Explained 227 Advertising Explained 228 Evaluation 243 243 Sales Management 226 242 243 Sales Management Applied Communication Objectives Relationship Building 242 242 Sales Management Explained 225 Communication Objectives 225 Word of Mouth 242 Personal Selling Process 225 Marketing Communications Explained Control and Credibility 242 Step 5: Overcome Objections Step 7: Follow-up Marketing Communications Advertising Step 4: Sales Presentation ix 233 Integrating PART 5 254 234 235 (Chapters 18–20) Chapter 17 | Personal Selling and Direct Marketing Strategies..................................238 Chapter Outline 238 Personal Selling 239 Chapter 18 | The Communications Mix....254 Chapter Outline Personal Selling Explained Personal Selling Applied Integrated Marketing Communications 239 Integrated Marketing Communications Applied 240 Integrated Marketing Personal Selling Process 241 Personal Selling Process Explained Personal Selling Process Applied Step 1: Prospecting 241 Step 2: Preapproach Step 3: Approach 241 242 255 Integrated Marketing Communications Explained 239 Personal Selling 254 Communications 241 255 Communications Mix 256 241 Communications Mix Explained 256 Communications Mix Communications Mix Applied 256 256 255 255 | x Contents Media Types 258 Marketing-Mix Models Media Types Explained Media Types Applied Broadcast Marketing-Mix Models Explained 258 Marketing-Mix Models Applied 258 CPM Print 258 279 279 279 Marketing-Mix Models 280 259 Visual Summary 259 Media Types 281 260 Out-of-Home 260 Chapter 20 | Marketing Performance Digital Media 261 Measurement..............................................284 Digital Media Branded Entertainment 261 Chapter Outline 284 262 Branded Entertainment Marketing Accountability 262 285 Marketing Accountability Explained Media Selection 285 263 Marketing Accountability Media Selection Explained Media Selection Applied Media Planning Media Buying Marketing Accountability Applied 263 Measuring Marketing 264 264 Media Optimization 286 287 Measuring Marketing Explained Measuring Marketing Applied 266 Media Optimization Explained Media Optimization Applied 266 287 287 Measuring Marketing 266 Media Optimization Visual Summary Measuring Advertising 267 288 289 Measuring Advertising Explained 268 Measuring Advertising Applied 289 289 Measuring Advertising Chapter 19 | The Marketing Mix............272 Chapter Outline Marketing Mix 272 273 Marketing-Mix Strategies Applied Within the Marketing Mix Return on Marketing Investment 275 275 Visual Summary 293 293 294 275 276 Marketing-Mix Strategies: Situation 2 276 Marketing-Mix Strategies: Situation 3 276 Marketing-Mix Strategies: Situation 4 277 Marketing-Mix Strategies: Situation 5 277 Marketing-Mix Strategies: Situation 6 277 Appendix Notes Index Interior Views Marketing Plan 334 Glossary 278 293 Return on Marketing Investment Applied Marketing-Mix Strategies: Situation 1 Beyond the 4 Ps 292 Return on Marketing Investment Explained 275 Marketing-Mix Strategies Explained 291 291 Measuring Brand Health 273 Marketing-Mix Strategies 290 291 Measuring Brand Health Applied 273 Marketing Mix Applied Me ...
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Tutornicabel
School: Purdue University

Attached.

Running head: Marketing

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Marketing
Name of student
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Marketing

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Question one
How do companies manage the flow of products and services from production to the final
consumer?
The management of the flow of products and service is called Logistics. There are three ways of
logistics which include; Outbound logistics which involves the movement of products and
services from production to the final consumers, Inbound logistics is whereby the flow of
products and services are moved from suppliers to the manufactures and Reverse logistics is the
process of moving products by consumers to the producers of productions for repair or return
(Alvarado et al., 2001).
Supply chain managers in a company are the one responsible for conducting activities of the
distribution channel. Consumers are looking for the various segment, for example, low prices
hence the manager will ensure that the delivery cost is low for the company to make profits.
Other consumers may look at exceptional service; hence the company is required to increase the
hire and training of customer service personnel.
The primary goal of a company is to satisfy customer needs and maximise profit. This aim can
be achieved by Companies managing the flow of products through...

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Anonymous
Good stuff. Would use again.

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