A new loan payment system for automobiles that is based on a variable interest rate. What are the differences in developing concept tests for products as opposed to services?Explain.
Topic: Satisfying Marketing Opportunities – Part 1:
Text book: Kerin, R. & Hartley, S. (2021). Marketing 15/E. New York, NY: McGraw Hill.
Reading & Activities
Study Chapters 10, 11, 12 & 13 of the text
View the PowerPoints for Chapters 10, 11, 12 & 13
Assignments
Submit your responses to these questions in one WORD document. List the question first, and then your response. Your response must adequately cover the question without being wordy or relying on “yes” or “no” responses. APA format 7/e
Answer these 8 Questions
What methods would you suggest to assess the potential commercial success of the following new products?
(a) a new improved ketchup.
b) a three-dimensional television system that has taken the company 10 years to develop
(c) a new children’s toy on which the company holds a patent
Concept testing is an important step in the new-product development process. Outline the concept tests for
(a) an electrically powered car and
(b) a new loan payment system for automobiles that is based on a variable interest rate. What are the differences in developing concept tests for products as opposed to services?
What are the search, experience, and credence properties of an airline for (a) the business traveler and (b) the pleasure traveler? What properties are most important to each group?
The text suggests that internal marketing is necessary before a successful marketing program can be directed at consumers. Why is this particularly true for service organizations?
Outline the capacity management strategies that an airline must consider.
How would the price equation apply to the purchase price of (a) gasoline, (b) an airline ticket, and (c) a checking account?
A marketing executive once said, “If the price elasticity of demand for your product is inelastic, then your price is probably too low.” What is this executive saying in terms of the economic principles discussed in Chapter 13?
Touche Toiletries, Inc. has developed an addition to its lisardman Cologne line tentatively branded Ode d’Toade Cologne. Unit variable costs are 45 cents for a three-ounce bottle, and heavy advertising expenditures in the first year would result in total fixed costs of $900,000. Ode d’Toade Cologne is priced at $7.50 for a three-ounce bottle. How many bottles of Ode D’Toade must be sold to break even?
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