Marketing 2nd Edition Hunt Solutions Manual 1

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SOCIAL MEDIA APPLICATION WORKSHEET: CHAPTERS 4–7 Hunt/Mello/Deitz: Marketing 2e

Solution Manual for Marketing 2nd Edition Hunt


Mello Deitz 1259598993 9781259598999
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Group Member Names:

Use this worksheet as a guide to answer your social media application questions as a group.

Pick a company that you would like to work for after


graduation and assume that you have been asked to
interview there for a job next month. Analyze how
social media can help you prepare for your interview,
using the following questions and activities as a
guide.

1. Go onto the firm’s social media platforms and


find at least two helpful pieces of information
© Blend Images/Alamy Stock Photo RF that you can use in your interview that cannot be
found on the organization’s general website.
2. In addition to the organization’s social media
Chapter 4: Consumer Behavior platforms, do the executives or managers of the
firm actively engage through social media? If so,
This chapter explores the importance of knowing your are there useful pieces of information (such as
customers and how they make decisions. If you understand
Facebook posts or tweets) that can help give you
why the people and firms buying your product behave, you
an advantage over others competing for the
will be able to develop effective marketing strategies that
appeal specifically to them. This chapter outlines the same job?
consumer decision-making process, describes how situational 3. What are two things you can do with your own
and psychological factors influence consumers, and discusses social media presence to better position yourself
the differences between marketing to individual consumers for the interview?
and marketing to other firms.

1 Social Media Application Worksheet: Chapters 4–7 | Hunt/Mello/Deitz: Marketing 2e © 2018 McGraw Hill Companies
SOCIAL MEDIA APPLICATION WORKSHEET: CHAPTERS 4–7 Hunt/Mello/Deitz: Marketing 2e

Responses:
Key concepts in the chapter to reference:
• Understanding Consumer Behavior
o Traditional Perspectives on Consumer Decision Making
o Inside Buyers’ Brains
▪ Thinking, Fast and Slow
• Consumer Decision-Making Processes
o Problem Recognition
o Information Search
▪ Sources of Information
▪ The Internet, Social Media Marketing, and
Information Search
o Evaluating Alternatives
▪ Marketing Tactics for Influencing Buyer
Evaluations
o Outlet Selection and Purchase
▪ Unplanned Purchases
▪ Stockouts
▪ Credit Cards and Mobile Payment Systems
o Post-Purchase Evaluation
• Cultural and Social Influences on Consumer Behavior
o Culture
▪ Differences in National Cultures
▪ Subcultures
▪ Country-of-Origin Effects
o Social Factors
▪ Family Influences
• The Family Life Cycle
• Children’s Influence on Family
Purchases
▪ Reference Groups
▪ Opinion Leaders
• Individual Influences on Consumer Behavior
o Personality
o Lifestyle
o Values
• Psychological Influences on Consumer Behavior
o Perception
▪ Sensory Marketing
o Motivation
▪ Physiological Needs
▪ Safety Needs
▪ Love and Belonging
▪ Esteem
▪ Self-Actualization
o Attitudes
▪ Affective Dimension of Attitudes
▪ Behavioral Dimension of Attitudes
▪ Cognitive Dimension of Attitudes
o Learning
• Situational Influences on Consumer Behavior
o Time
o Involvement
▪ Low-Involvement Buying Decisions
▪ High-Involvement Buying Decisions
• Business-to-Business Marketing
o Professional Purchasing
o Derived Demand
o Fewer Buyers, Larger Purchases
• Types of Business Customers
o Producers
▪ North American Industry Classification System
o Reseller Markets
o Government Markets
o Institutional Markets

2 Social Media Application Worksheet: Chapters 4–7 | Hunt/Mello/Deitz: Marketing 2e © 2018 McGraw Hill Companies
SOCIAL MEDIA APPLICATION WORKSHEET: CHAPTERS 4–7 Hunt/Mello/Deitz: Marketing 2e

• Business Buying Behavior


o B2B Buying Situations
▪ New Buy
▪ Straight Rebuy
▪ Modified Rebuy
o Buying Centers

Pick an organization that you are familiar with and then


go out and visit that organization’s social media
presence. Analyze the organization’s efforts to market
itself through social media using the following questions
and activities as a guide. Be sure to support each of
your answers with specific quotes, pictures, or
comments from social media users.

1. Based on what you read on the organization’s


various social media platforms, what information
© Marmaduke St. John/Alamy Stock Photo RF about the company can you find?
2. Who are the most frequent types of customers for
Chapter 5: Marketing Research the organization?
3. Which of the organization’s products are well
This chapter explores the importance of marketing research received and which ones have a more negative
to individuals and firms. Good information leads to good perception?
decisions. Without accurate information, you may find 4. Should you visit a competitor’s social media sites,
yourself delivering and promoting products customers don’t and if so, what should you be looking for?
want at prices they’re unwilling to pay. The chapter explains
the importance of marketing research, discusses information
systems that aid in marketing research, outlines the steps in a Responses:
properly conducted research project, considers global
marketing research, describes the latest trends in marketing
research, and discusses ethical issues that arise in doing
marketing research.

Key concepts in the chapter to reference:


• Transforming Market Information into Consumer Insights
o What Is Marketing Research?
• Managing Market Information
o The Rise of Big Data
o Marketing Information Systems
▪ Internal Company Data
▪ Competitive Intelligence
• The Marketing Research Process
o Step 1: Define the Problem
o Step 2: Develop a Research Plan
▪ Types of Research
▪ Design of the Research instrument
o Step 3: Collect Data
▪ Gathering Secondary Data
▪ Gathering Primary Data
• Focus Groups and Depth Interviews
• Ethnographic Research
• Observation Research
• Survey-Based Research
• Experiments
▪ Sampling Methods
• Probability Sampling
• Nonprobability Sampling
o Step 4: Analyze the Data
▪ Analyzing Qualitative Data

3 Social Media Application Worksheet: Chapters 4–7 | Hunt/Mello/Deitz: Marketing 2e © 2018 McGraw Hill Companies
SOCIAL MEDIA APPLICATION WORKSHEET: CHAPTERS 4–7 Hunt/Mello/Deitz: Marketing 2e

▪ Analyzing Quantitative Data


o Step 5: Present Results and Take Action
▪ Data Visualization
• Global Marketing Research
• Twenty-First-Century Marketing Research Trends
o Using Social Media for Research
o Mobile Marketing Research
o Neuromarketing
▪ Brain-Imaging Techniques
• Functional Magnetic Resonance
Imaging (fMRI)
• Electroencephalography (EEG)
▪ Eye-Tracking
▪ Automated Facial Coding
• Marketing Research Ethics
o Privacy in a Digital Age
o Using Data Appropriately

Pick a new product that has been launched in the past


three months. This could be any type of new product,
from a new menu item at a fast-food restaurant to a
new video game. Analyze how the organization has
used social media to launch its new product, using the
following questions and activities as a guide:

1. How has the company used social media to make


customers aware of the new product?
2. Explain what you like or dislike about how the
© Richard Newstead/Flickr/Getty Images RF
company is using social media to promote the
product.
Chapter 6: Product Development
3. If you worked in marketing at the company, what
This chapter explores the importance of developing and
two specific suggestions would you have about
managing products, whether the product is a good, a service, how the company could use social media more
or an idea. It discusses the different types of new products effectively?
and outlines the various stages of the new-product
development process. It then describes how marketing Responses:
strategy and consumer adoption change during the product
life cycle. It is essential that you understand the dynamics of
introducing and managing a product, including the most
important product that you will ever market: yourself.

Key concepts in the chapter to reference:


• What Is a New Product?
o New-to-the-Market Products
▪ Service Innovation
o New-Category Entries
o Product-Line Extensions
o Revamped Products
• The Stages of New-Product Development
o Stage 1: New-Product Strategy Development
o Stage 2: Idea Generation
▪ Internal Idea Generation
▪ External Idea Generation
o Stage 3: Idea Screening
▪ Idea-Screening Questions
▪ The Role of Social Media in Idea Screening
o Stage 4: Business Analysis
o Stage 5: Product Development
o Stage 6: Test Marketing

4 Social Media Application Worksheet: Chapters 4–7 | Hunt/Mello/Deitz: Marketing 2e © 2018 McGraw Hill Companies
SOCIAL MEDIA APPLICATION WORKSHEET: CHAPTERS 4–7 Hunt/Mello/Deitz: Marketing 2e

▪ Risks of Test Marketing


▪ Economical Test-Marketing Options
o Stage 7: Product Launch
o Sequential versus Concurrent New-Product
Development
• Risks in New-Product Development
o Categorizing Risks in New-Product Development
o Reducing Risks in New-Product Development
• Ethical and Sustainability Issues in New-Product Development
o Ethical Issues
o Sustainability Issues
• Product Adoption
o Types of Adopters
▪ Innovators
▪ Early Adopters
▪ Early Majority
▪ Late Majority
▪ Laggards
o Product Characteristics
▪ International Product-Adoption Considerations
• The Product Life Cycle
o Stages of the Product Life Cycle
▪ New-Product Development
▪ Introduction
▪ Growth
▪ Maturity
▪ Decline
o Estimating the Length of a Product’s Life
o Projecting the Shape of the PLC Curve
o Strategic Implications of the Marketing Mix

Select a product that you like and that you would enjoy
marketing. This could be a type of car, cell phone,
restaurant, or other product. Segment the market for
this product using the following questions and activities
as a guide:

1. Select 20 friends, followers, or connections that


you have on any social media platform and
segment them as if they are potential customers of
© Getty Images RF
the product you have chosen to market. You need
to identify at least three different segments.
2. What variables did you use to segment the
Chapter 7: Segmentation, Targeting, and Positioning
potential customers?
This chapter explores the importance of market 3. How were social media helpful to you in assigning
segmentation, targeting, and positioning. You are highly each person to a specific segment?
unlikely to achieve marketing success trying to be all things to 4. Decide which segment of the three you are going
all consumers. Your ability to effectively segment and target to target your marketing efforts to. Why did you
specific markets with a positioning strategy that appeals to make that decision?
those targeted consumers is at the heart of marketing. This 5. How can social media help you reach the targeted
chapter discusses the bases for segmenting markets, the consumers with your marketing message?
criteria for successful market segmentation, and strategies for
targeting and positioning your organization’s products.
Responses:
Key concepts in the chapter to reference:
• Market Segmentation
o The Importance of Market Segmentation
o Criteria for Effective Market Segmentation
• Segmentation Bases

5 Social Media Application Worksheet: Chapters 4–7 | Hunt/Mello/Deitz: Marketing 2e © 2018 McGraw Hill Companies
SOCIAL MEDIA APPLICATION WORKSHEET: CHAPTERS 4–7 Hunt/Mello/Deitz: Marketing 2e

o Demographic Segmentation
▪ Age
▪ Gender
▪ Income
▪ Marital Status and Family Size
o Geographic Segmentation
▪ Market Size
▪ Customer Convenience
▪ Population Shifts
o Psychographic Segmentation
▪ Lifestyle
▪ VALS Network
o Behavioral Segmentation
o Business-to-Business Segmentation Bases
▪ B2B Demographic Segmentation
▪ B2B Geographic Segmentation
▪ B2B Behavioral Segmentation
o The Role of Social Media in Market Segmentation
• International Market Segmentation
o International Segmentation Bases
o International Market Segments and the Marketing Mix
• Selecting Target Markets
o Factors in Selecting Target Markets
▪ Growth Potential
▪ Level of Competition
▪ Strategic Fit
o Target Marketing Analytics
• Target Marketing Strategies
o Undifferentiated Targeting
o Differentiated Targeting
o Niche Marketing
• Ethical Issues in Target Marketing
• Market Positioning
o Steps in Market Positioning
▪ Step 1: Analyze Competitors’ Positions
▪ Step 2: Clearly Define Your Competitive
Advantage
▪ Step 3:Evaluate Feedback
o Positioning Statement
o Repositioning
▪ Repositioning and the Marketing Mix
▪ Repositioning the Competition

6 Social Media Application Worksheet: Chapters 4–7 | Hunt/Mello/Deitz: Marketing 2e © 2018 McGraw Hill Companies

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