MKT100 Principles of Marketing

MKT100 -- Principles of Marketing FINAL EXAM – practical portion

Due: Friday, June 8, 2007 by Midnight (if emailed/faxed), or 10PM at Strayer Univ-VB campus faculty mailbox. I will pick-up paper exams from my faculty mailbox on Saturday Morning.

Email (JPG images, or PDF file-format): [email protected] Fax : 413-691-3538

Answer each question completely, great detail, and give URL links, or documentations. I will mainly look for CREATIVITY, and IMAGINATION when grading your test. You need to use the Internet, your book, encyclopedia, and your own creative mind to answer these questions. Include examples, if needed.

#1) If you are interested in finding out what goods/services that Virginia locally-produces (what drives Virginia’s economy): how would you find/get these information? Provide examples, information, describe and elaborate.

#2) If you are interested in finding out what goods/services that a foreign-country needs (what demands that country needs): how would you find/get these information)? Provide examples, information, describe and elaborate.

#3) You are a State-of-Virginia Employee working for Virginia for dept of Trade and Commerce. You have been assigned to do research, and find-out what locally-made Virginia products (goods/services) that you can recommend to export onto other countries to invigorate Virginia’s Economy. What kind of research/data/information that you need to get, so that you may provide beneficial advices onto Virginian Businesses and to your superiors IF: a) You have been budgeted US$1 million to conduct research ? b) You have been budgeted US$1000 only, to conduct research ?

#4) You are a State-of-Virginia Employee working for Virginia for dept of Trade and Commerce. You have been assigned to do research, and find-out what locally-made Virginia products (goods/services) that you can recommend to export onto other countries to invigorate Virginia’s Economy. Recommend onto your superiors, and onto Virginian Businesses THREE combinations of products ( each country have three products – three different price levels: low, medium, high ) that you think can be potential hits IF: a) to export into Canada ? b) to export into Egypt ? c) to export into Russia ? Explain WHY you think each of those combinations of three-items would be hits ? ||------|------|------|| GOODS SERVICES

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#5) Please rate these products in terms of their levels of (Goods/Services), (Tangibles/Intangibles), and (B2B/B2C) that you believe these products constitute: a) Thrift Store that sell goods b) Thrift Store that receive donations for tax write-offs. c) A College Education/Training d) “Ethan Allen” Furniture Assume house with land is same size, same condition, and same model. e) A house with land, previous owner was Elvis Presley. Plenty of rock ‘n roll accessories (still useable) are littered. f) A house with land, previous owner was unknown, mostly crack-addicts used to sleep inside them. Plenty of used syringes, and funky stuff found around the house. g) A $5 lottery ticket h) A chinese-made KOSS stereo speakers i) An Austrian-made BANG & OLUFSEN stereo speakers

#6) You are recently hired as a marketing consultant to a Furniture Company. What ideas, suggestions, and techniques that you can recommend to this Furniture company to portray itself as selling “luxury items” (more style, and hip) to gain better selling prices ?

#7) Assume that you are a marketer inside a company. How would you believe it is better to market/distribute your products (marketing channels), IF: * your products are high-end items ? * your products are low-end items ? #8) Assume that you are a marketer inside a company. How would you believe it is better to maintain communication, and relationship with your customers (marketing communications), IF: * your products are high-end items ? * your products are low-end items ?