I need an explanation for this Marketing question to help me study.
Answer each question with 3 paragraphs (around 5 sentence each paragraph or more if needed)
you are expected to conduct research and obtain references to support your answers
- Provide a definition of Industries and Markets.
- How do they differ?
- What do marketers research and evaluate when conducting an Industry Analysis?
- What do marketers research and evaluate when conducting a Market Analysis?
- List and explain Copeland’s classification of Goods. In your answer, include a brief discussion on the two main different types of Services.
- Discuss and explain the relationship between consumer’s income and purchasing power, to each classification of goods.
- Discuss and explain the relationship between social and environmental responsibility and sustainability, to each classification of goods.
- What is the difference between an international (also known as multinational) marketing strategy, and a global marketing strategy?
- Provide an explanation as to why global enterprises attempt to standardize their Marketing Mix Strategy to a global consumer market.
- What have sociologists and economists noticed about consumer cultures in increasingly globalized economies? How does that impact the marketing field?
- What does it mean to study Consumer Behavior? Why do marketers want to deep-dive into understanding consumer’s purchasing patterns and trends? You may use the definition covered in class, but are expected to provide a thorough answer.
- List the 5-Step Consumer Decision Process:
- Provide a brief explanation of each step
- Explain each step from a Marketer’s perspective, use real-world examples to support your answer(s).