Problem 1. Use a real or hypothetical product or service. List 5 items in the external environment which may be a threat to your product's success and tell how two of these threats could be turned in to opportunities.
Problem 2.
a. What are two important reasons for a marketing plan?
b. Why is the Mission Statement the first item in such a plan?
c. Use a real or hypothetical organization or product and make up a SWOT analysis of at least three items in each quadrant.
d. From the SWOT analysis, what looks like a good opportunity for this company to pursue?
Problem 3. Give two examples each of the following inputs to the Marketing Information System:
- Internal data
- Primary External Data
- Secondary External Data
- Why are multiple sources of data needed
Problem 4. What does it mean to "cross validate" or "triangulate" results from marketing research? Why is this needed in qualitative research?
Give two examples of biases that might exist in some form of marketing research: test markets, interviews, focus groups, observation, surveys, etc.
Problem 5. List five "trends" going on in society or the world today and tell how you might market a product or service to capitalize on one of these trends