Discussion questions for chapter 08
DISCUSSION QUESTIONS FOR CHAPTER 08
1. In your own words, what is a market? How can marketing research help an entrepreneur identify a market?
2. What are the five steps in the marketing research process? Briefly describe each.
3. Which is of greater value to the entrepreneur, primary or secondary data? Why?
4. Identify and describe three of the primary obstacles to undertaking marketing research?
5. How would an entrepreneurís new-venture strategy differ under each of the following marketing philosophies: production-driven, sales-driven, consumer driven? Be complete in your answer.
6. In your own words, what is market segmentation? What role do demographic and benefit variables play in the segmentation process?
7. Identify and discuss three of the most important personal characteristics that help an entrepreneur identify and describe customers. Also, explain how the product life cycle will affect the purchasing behavior of these customers?
8. Identify and discuss three of the psychological characteristics that help entrepreneur identify and describe customers. Also, explain how the product life cycle will affect the purchasing behavior of these customers?
9. How does the way consumerís view a ventureís product or service affect strategy?
For example, why would it make a difference to the entrepreneurís strategy if the consumers viewed the company as selling a convenience good as opposed to a shopping good?
10. Identify and describe four of the major forces shaping buying decisions in the new century.
11. Most emerging ventures evolve through a series of marketing stages? Identify and describe each.
12. What does the entrepreneur of an emerging venture need to know about sales research and a marketing information system?
13. For developing a marketing plan, what are the five steps that are particularly helpful? Identify and describe each.
14. How does telemarketing work? What are its advantages? What are its pitfalls? Why is it likely to be a major marketing tool in the new century?
15. Describe the benefits and concerns of marketing on the internet. Be specific in your answer.
16. What are some of the major environmental factors that affect pricing strategies? What are some of the major psychological factors that affect pricing? Identify and discuss three of each.