Homework
Directions
i. Your answers should show familiarity with the text and topics being covered in the unit.
ii. Each question response should consist of at least 150 words.
iii. Responses should be free of typographical, spelling, and grammar errors
iv. Explain how Maslow's hierarchy of needs works.
v. Distinguish between low-involvement and high-involvement buying decisions.
vi. Describe factors that influence customers to purchase products/services
vii. Outline the stages in the B2B buying process.
viii. Explain e-commerce's effect on buying firms, the companies they do business with, where they are located, and the prices they charge.
Questions
a) You are opening a new, high end restaurant in a large city, explain how you would utilize Maslow's Hierarchy of needs to appeal to the needs of your targeted market.
b) Explain the relationship between extensive, limited, and routine decision making relative to high- and low-involvement decisions. Identify examples of extensive, limited, and routine decision making based on your personal consumption behavior
c) Consider a company where marketing and sales are two different departments. Their customers are other businesses. Using both the buying center and buying process, describe what the marketing department actually does. What do salespeople actually do?
d) Locate three different types of websites that cater to markets discussed in this chapter. How do these differ from sites like eBay or Overstock? How are they similar? B2C models like Groupon and LivingSocial are being adopted by B2B companies. Examples include Bizy Deal; take a look at their site and identify the types of offerings that seem prevalent. What characteristics of the product or service would make such a model right for a B2B company?
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.