The Final Paper should demonstrate an understanding of the materials (texts, assignments, and discus

Aug 17th, 2016
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The Final Paper should demonstrate an understanding of the materials (texts, assignments, and discussions) covered in this course. Assume the role of Marketing Manager. Select a product (good or service) that is sold in the United States and has sales opportunities in a foreign market. Apply your critical thinking skills and the knowledge you have acquired throughout this course and address the following in your Final Paper:The product I select is clothing sports apparel. 1. Describe the product you selected in terms of the four utilities of customer value. 2. Identify the product’s target market at home and in your stated foreign market. 3. Indicate the competition of the product category in both home and foreign markets. 4. Explain how you would apply the segmentation, targeting, and positioning (STP) approach to market the product in the foreign market. 5. Discuss the major environmental facts and trends in the foreign markets that might affect sales of the product. 6. Explain how y

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Answer point one--------------------The four types of economic utility are form, time, place and possession. "Utility" in thiscontext refers to the value, or usefulness, that a purchaser receives in return for exchanginghis money for a company's goods or services. Companies seek to provide maximum customersatisfaction through addressing all of the four types of utility or as many as possible.The concept of economic utility falls under the area of study known as behavioral economics.It is designed to assist companies in designing a business and marketing the company in away that is likely to attract the maximum amount of customers and sales revenues.FormThe utility of form refers to the specific product or service that a company offers to itspotential customers. For example, a manufacturing firm might offer the raw material ofrubber in the form of automobile tires.A company engages in research to pinpoint exactly what products or services consumersdesire and then attempts to offer what the company's management believes is the bestpossible form of the specific product or service that is needed or desired by potentialcustomers.The aspect of form utility includes offering consumers lower costs, greater convenience or awider selection of products. All of these efforts by a company are aimed at maximizing theperception of the added value the company offers.TimeThe utility of time refers to easy availability of products or services at the time whenc

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