1. How can USP (unique selling proposition) change during a product’s life cycle?
2. Explain the purpose of using focus groups.
o Provide an example of a focus group
Ø Briefly describe the product that is given to the focus group
Ø What else is presented to the focus group?
Ø What is the focus group asked to do?
Ø What are sample results from a focus group?
Ø What might a company do with these results?
3. Explain the purpose of a focus group and provide three examples of possible outcomes from a focus group.
4. Define the 5 “C”s of marketing. Elaborate on why each “C” is important to a product. Select one good and one service, create a diagram for each showing how the “C”s impact that product.
5. Analyze how a product fits in a company’s brand. Select a hair care product, define the branding that is associated with the product. What advertising enticed you to purchase that product? Explain the life cycle of that good focusing on the four Ps. Finally categorize the product into its current life cycle stage and predict what will happen in the next stage of that products life cycle assuming the company wants to keep the product viable.
6. List the components of STP and explain the importance of each component.
7. Point out the four components of a SWOT analysis. Perform a SWOT analysis for Nike running shoes. This SWOT analysis should be a complete and detailed analysis including the impact of competition, price, life cycle and market segment.
8. Describe what is meant by CRM. Explain how a CRM system might be used by a sales person.
9. What is beta testing and how is it used? Provide an example and explain what could happen as a result of the beta test.
10. Identify and describe the basic components of a distribution channel for a product. Select a common kitchen item and follow it through the distribution chain from raw materials to the consumers hands. Elaborate on what happens to the product at each stop and how price could be impacted.