This chapter sets the stage for the rest of the book by introducing key marketing strategy concepts including target marketing and the development of the marketing mix (the four Ps decision areas). The focus on “best practices” in marketing mix planning highlights the role of both customer acquisition and customer retention. And the integrated model of the marketing strategy planning process is introduced here and ties the organization of the whole book together.
1. Review the Chapter 2 Outline available in the Assignment 2 Folder.
2. Review the Chapter 2 Presentation at the course homepage.
3. Read Chapter 2 in the Essentials of Marketing textbook.
4. Visit the Online Learning Center Student Edition and review any/all resources available for Chapter 2.
5. Complete the following WSJ Current Events Exercise:
1. Go to the Procter and Gamble Web site and review the many Brands they market.
2. Go to the Procter and Gamble Online 2013 Annual Report Web site and review the company’s financials for the year 2012.
3. Log in to the Wall Street Journal Online. Read the listed articles (use the links at the bottom of the next page).
1. Develop written responses for the following Questions and Problems from pages 58 – 59 in the textbook: Q&P 1, 2, 11, 14, and 15.
2. Develop written responses for the two Internet Exercises for Chapter 2 (see pages 48 and 56).
3. Develop written responses for the Ethics Question for Chapter 2 (see page 41).
4. Develop written responses as required for the MARS COM Assignment 2 Exercise for Chapter 2 found at the Assignment 2 Outline organizer page.
5. Develop written responses as required below for the WSJ Current Events Exercise.
1. The text emphasizes that firms need to consciously think about acquiring new customers and keeping the ones they already have. According to the articles, who are some of the new customers P&G is trying to acquire? Discuss.
2. What marketing mix variable(s) is P&G using to attempt to keep customers they already have? Discuss.
3. What long-term impact may this marketing mix strategy have on P&G’s future profitability and consumer’s expectations?
4. Click on the Latest Innovations link at the P&G Brand Web site. Select either the Household Care or Beauty and Grooming tab. Review any four of the twelve products and review the information provided for each product. Discuss whether you feel these innovations are “significant” enough to overcome the price issues discussed in the articles.
5. Using the four products selected above, discuss which of the four basic types of opportunities P&G is pursing with each product innovation (see pages 53 – 55) with the