BU220-8 Principles of Marketing Discussion Paper

BU220-8 Principles of Marketing Discussion Paper

Unit 1 Discussion: Introduction

In this simulation, you are making important decisions for your shoe company as it relates to the Marketing Mix. The product that you are selling can be considered a need as well as a want (shoe). It is important to understand your consumer’s needs, wants, as well as demands as you create the perfect marketing plan to sell your shoes.

What strategy will you use to ensure that you can understand the needs of the consumer in the New Shoes case? Ensure that you apply the steps of the Marketing process in your response. In addition, address how you will plan for marketing myopia when marketing your shoes as well.

Please be sure to validate your opinions and ideas with citations and references in APA format.

NewShoes Principles of Marketing Simulation

Willbann D. Terpening, Gonzaga University James G. Helgeson, Gonzaga University

Michael L. Ursic, Gonzaga University

Charlottesville, Virginia, USA

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Copyright Notice

This manual and the simulation described in it are copyrighted with all rights reserved by Interpretive Software, Inc. Under the copyright laws, neither this manual nor the simulation may be copied, in whole or in part, without written consent of the authors, except in the normal use of the simulation for educational purposes, and then only by those with a valid license for use. The same proprietary and copyright notices must be affixed to any permitted copies as were affixed to the original. This exception does not allow copies to be made for others, whether or not sold. Under the law, copying includes translating into another language or format.

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Contents

Copyright Notice ii Contents iii About the Authors iv

NewShoes Introduction 1 NewShoes Quick Start Guide 3 NewShoes Manual 4

NewShoes Case 5 The Athletic Shoe Industry 6 The NewShoes Industry 8 Product 9 Place 10 Price 11 Promotion 12 Production Costs 13 Market Research and Decision Analysis 15 Summary of Decisions Variables 16 Next Steps 16

Marketing Concepts 19 The Marketing Function 20 Product 21 Price 21 Promotion 22 Place 23 Marketing Strategy 23 The Decision-Making Process 25 Models as Decision Aids 26 Forecasting 28 Types of Decisions and Response Functions 29 Measuring Results 31 Summary 35

Appendix 37 Regional Market Descriptions 38 Glossary 40 Index 44

Printed April 26, 2017

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About the Authors WILLBANN TERPENING is Professor of Operations Management at Gonzaga University’s School of Business Administration. He teaches courses in operations management, research methods, spreadsheet modeling, and process management at the undergraduate and graduate levels.

Dr. Terpening’s areas of expertise are process management, the use of information in operations management, and human judgment and decision-making. His research has been published in leading journals, including Psychology and Marketing, the Journal of Psychology, and the Journal of Business and Management. Professor Terpening consults in the areas of operations, information systems, and research methods.

He sits on the board of Sirti, a state economic development agency and other nonprofit organizations. He also has programmed systems to support managerial decision-making for several organizations. He received his Ph.D. and M.A. from Southern Illinois University and his B.A. from the University of Montana. JAMES HELGESON is Professor of Marketing at Gonzaga University’s School of Business Administration.

His area of expertise is behavioral decision-making, with a focus on consumer and respondent decision-making and information processing. He teaches marketing theory and practice, marketing strategy and qualitative decision-making in the undergraduate and graduate business programs. He was awarded the Gonzaga University Great Teachers Program Award for Distinguished Scholarship in 1995.

Dr. Helgeson’s research has been published widely in leading journals, including the Journal of Consumer Research, the Journal of the Academy of Marketing Science, Organizational Behavior and Human Decision Processes, the Journal of Behavioral Decision Making, the Journal of Marketing Research, the Journal of Consumer Psychology, Psychology and Marketing, the International Journal of Market Research. Dr. Helgeson received his Ph.D. from the University of Oregon and his M.B.A. and B.A. from Eastern Washington University.

The late MICHAEL URSIC served on the faculty at Gonzaga University’s School of Business Administration, where he taught marketing research and consumer behavior.

His areas of expertise were decision-making and public policy. His research was published in the Journal of Consumer Research, the Journal of Public Policy and Marketing, the Journal of Consumer Affairs, Psychology and Marketing, Industrial Marketing Management, the Journal of the Academy of Marketing Science, the Journal of Business Research, and the Journal of the Market Research Society. He received his Ph.D. from the University of Oregon.

 

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