Firms will utilize price adjustments (and discounts) in order to target particular consumers, or to adapt to particular situations. In this activity, students identify examples and how to effectively use price adjustments.
EXCLUSIVE MEMBER ACTIVITY
Using Pricing Adjustments Review the Teaching Activity
In this activity, consumers visit a well-known store to buy some furniture, but the salesperson operates in their own interests, rather than meeting the needs of the customer. The dilemma here is the trade-off between long-term sales and brand management and short-term profitability. What is the best approach?
EXCLUSIVE ACTIVITY FOR MEMBERS
Protect the Brand or Grow the Profit? Review the Teaching Activity
The terms and jargon of direct marketing are sometimes confusing. In this activity, the task is to match the definition/term to its best description.
EXCLUSIVE MEMBER ACTIVITY
Direct Marketing Terms Review the Teaching Activity
Sometimes a firm’s particular characteristics (or marketing situation) will influence their choice of the most appropriate marketing research design (as this activity will demonstrate). The task in this activity is to match the type of market testing research to the firm most likely to conduct it.
EXCLUSIVE MEMBER ACTIVITY
Different Firms – Different Research? Review the Teaching Activity
For this task, students match the market research term to its definition, as a simple check of their understanding of the main marketing research methods.
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Defining Market Research Terms Review the Teaching Activity
In this activity, students match the key step in the new product process to its appropriate definition, to confirm their broad understand of the NPD process.
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Identify the Steps in the New Product Process Review the Teaching Activity
For this activity, students will use the product life cycle free Excel tool to map products onto the four stages of the PLC. This is a relatively simple activity, but is designed for them to get the core concept of how product categories fit into the stages and how they evolve over time.
EXCLUSIVE MEMBER ACTIVITY
Plotting on the Product Life Cycle Review the Teaching Activity
In this video-based activity, students will review a five-minute video highlighting different approaches to market testing, and then address various questions on the video and the new product process.
Understanding Test Marketing Review the Teaching Activity
Students review the viral video launch of the highly successful Dollar Shave Club and then identify their 7P’s offering and the mindset of their target market. Great activity for breaking down the full 7P’s marketing mix.
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Marketing Mix of the Dollar Shave Club Review the Teaching Activity
In this activity, students compare the assessment factors for three market segments. They need to rate each factor and then choose the best segment overall to be their chosen target market.
EXCLUSIVE ACTIVITY FOR MEMBERS
Target Market Assessment Review the Teaching Activity