In this exercise, students are presented with eight product alternatives, as they would find in a supermarket environment. As they will see, price is simply one aspect of the consumer’s perception of value.
How Important is Price? Review the Teaching Activity
In this activity, the task is to set the price for a new home-delivered water company. To complicate matters, there are a few different viewpoints on the best pricing approach.
Making a Price Decision Review the Teaching Activity
Firms are usually faced with four broad branding choices, with the key goal of growing brand equity. In this activity, students classify examples to the type of brand strategy.
Line and Brand Extensions Review the Teaching Activity
Consumers buy a product solution (the benefits) for their need/problem. In promotional communications, it is important to communicate benefits – not features! In this activity, students will convert features into benefits.
Talk Benefits, Not Features Review the Teaching Activity
Services have a number of distinct characteristics that create a unique set of marketing challenges for services marketers. The task is to review customer statements to identify the distinguishing service characteristic.
Unique Characteristics of Services Review the Teaching Activity
Consumer products can be classified into four different types, to help understand consumer behavior and to assist in the design of the marketing mix. The task is to classify a list of products.
Classifying Consumer Products Review the Teaching Activity
A product should meet a need or provide a solution for a consumer. In this activity, students identify the consumer’s need and/or identify the product solution.
A Product Meets a Need Review the Teaching Activity
The task to identify a list reasons why new products fail and identify which of these factors could NOT be adequately assessed prior to actually going to market with the new product.
Why New Products Fail Review the Teaching Activity
Most firms will have growth goals, which is one factor that drives firms to introduce new products. Students will need to review examples and identify why firms decide to introduce new products.
Why Firms Introduce New Products Review the Teaching Activity
For this exercise, students are the marketing manager for a large hotel chain, where they are asked to put together a CRM program for the hotel’s major customers.
What CRM Tactics Should We Use? Review the Teaching Activity