Differences Between Industries and Markets & Classification of Goods Discussion

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

question 1

  • 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?

    question 2

    • 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.

    question 3

  • 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?

question 4

  • 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).

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