New Stuff

Question 1

What are the four main categories marketers use to asses global markets?

Answer 1

economic analysis using metrics, sociocultural analysis, infrastructure and tech, government actions

Question 2

What are the two most important population trends we discussed in class?

Answer 2

developing vs. developed countries

Question 3

How does the value proposition change when marketing new products? Existing Products?

Answer 3

New products- inform customers as to how your product meets customer needs

Existing products- remind them why they use your product, or get them to switch to your product.

Question 4

We discussed two ways that firms name their brands, list define and example

Answer 4

o Family brands- a firm uses its own corporate name to brand all its product lines and products, the individual brand benefits from the overall brand awareness associated with the family name. Ex: Apple- the use of one brand name and the recognizable logo make it easy for consumers to find and identify all their products.
o Individual brands- each product has it’s own name, individual identity. Ex: Whopper burger