Marketing Assignment

Formatting Toolbar This toolbar is a collection of diverse formatting menu icons frequently used for font and paragraph modification. Icon

Name

Description

Styles and Opens the [Styles and Formatting] window. Formatting Style

Changes the style of the selected paragraph.

Font

Changes the font of the selected characters.

Font Size

Changes the font size of the selected characters.

Grow Font

Increases the size of the selected font by the increasing unit shown on the font size list.

Shrink Font

Decreases the size of the selected font by the decreasing unit shown on the font size list.

Bold

Darkens the selected characters.

Italic

Tilts the selected characters.

Underline

Underlines the selected characters.

Superscript

Changes the selected characters as superscripts.

Subscript

Changes the selected characters as subscripts.

Justify

Aligns the paragraph to both ends.

Align Left

Aligns the paragraph to the left.

Align center

Aligns the paragraph to the center.

Align Right

Aligns the paragraph to the right.

Distributed

Aligns the paragraph to both ends by equally distributing them.

Numbered List

Inserts/takes out numbers to the paragraphs.

Bulleted List

Inserts/takes out bullets from the paragraphs.

Decrease Indent Indents the paragraph to the left. Increase Indent

Indents the paragraph to the right.

Single

Sets single spacing between lines.

1.5 LInes

Sets 1.5 line spacing.

Double

Sets double spacing between lines.

Font Color

Changes the color of the selected characters.

Drawing Toolbar This toolbar is a collection of diverse function icons used for drawing and editing the drawn images. Icon

Name

Description

Draw Menu

Provides many functions for drawing.

Select Objects

Changes the state to select an object in the document.

Auto Shapes

Inserts various shapes into the document.

Line

Draws a line.

Arrow

Draws an arrow.

Rectangle

Draws a rectangle or square.

Oval

Draws a circle or ellipse.

Text Box

Inserts a text box.

Insert Clip Art

Opens the clip art window.

Insert Picture

Inserts a picture file.

Fill Color

Sets the surface color of the drawn object.

Line Color

Sets the line color of the drawn object.

Font Color

Sets the color of the selected font.

Line Style

Sets the border line thickness of drawings and images.

Dash Style

Sets the line shape as solid, dotted, dashed, or double lines.

Arrow Style

Sets the arrow shape at the tip and the end.

Shadow Style

Sets a shadow on the object.

Standard Toolbar This toolbar is a collection of important menu icons frequently used for making a document, such as ‘new’, ‘open’, and ‘save’. Icon

Name

Description

New

Creates a new document on a new window.

Open

Opens the saved document on the editing screen.

Save

Saves the document in process.

Save as PDF

Saves the document in process as a PDF file.

Print

Prints the document in process.

Print Preview

Shows the document to be printed on the screen.

Cut

Cuts the selected contents and copies to the clip board.

Copy

Cuts the selected contents and copies to the clip board.

Paste

Adds the contents, which are on the clip board, to the document.

Format Painter

Copies the format of the selected text or range to the assigned location.

Undo

Cancels the operation just executed.

Redo

Re-operates the the command canceled by 'Undo'.

Find

Finds the document contents with words.

Replace

Replaces the word with another after finding on the document.

Draw Table

Inserts a table on the document.

Insert Picture

Inserts a picture on the document.

Insert Hyperlink

Creates hyperlink to the words.

Bookmark

Places a bookmark on the location of the mouse pointer.

Show/Hide All editing marks

Shows or hides the format and paragraph marks.

Field Shading

Shows/hides shading on the field.

Zoom

Zooms in and out of the screen.

ThinkFree Write Help

Opens ThinkFree Write Help.

Question: What is Marketing? Answer: Marketing is an activity. Marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products.

What is the difference between wants and need? Wants and Needs

This will start out sounding abstract, but it really isn’t. We all have wants and needs. I would guess that most of us concentrate on the wants. For myself, I’ve often had little comprehension of what my needs truly are. In life we will constantly run into situations where our wants are not met. Despite this, it is quite remarkable how often our needs are met. Think about it. What do you really need in life? Food, shelter, health, money, family, and friends — these rank pretty high on most people’s lists. What is underlying these “needs”? Is it not happiness? And what is the root of happiness? Is it not love and acceptance? The spiritual path reveals a different understanding of wants and needs. What the world tells us we should want the spiritual life shows us is mostly a sham. We don’t really need a new car or the latest big

screen television. We typically eat more than we need. Oh, yes, of course there are people who are truly in need of a meal, a home, a job and many of the things taken for granted by the over-commercialized society we live in. For those of you who are not part of this Western world where commerce and materialism rule please don’t feel indicted.

need Hide links within definitionsShow links within definitions Definition 1 General: Positive, motivating hunger that compels action for its satisfaction. Needs range from basic survival needs (common to all human beings) satisfied by necessities, to cultural, intellectual, and social needs (varying from place to place and age group to age group) satisfied by necessaries. Needs are finite but, in contrast, wants (which spring from desires or wishes) are boundless. See also Maslow's hierarchy of needs. Definition 2 Marketing: Drivers of human action which marketers try to identify, emphasize, and satisfy, and around which all promotional efforts are organized

What is advertising

NOUN: 1.

The activity of attracting public attention to a product or business, as by paid announcements in the print, broadcast, or electronic media. 2.

The business of designing and writing advertisements.

3. Advertisements considered as a group: This paper takes no advertising. 4. What is advertising? 5.

Advertising is used by businesses and non-profit organizations to communicate messages about themselves, their products, services, and causes. Advertisers create creative and dynamic promotional communication inform to persuade, and remind their audiences.

What is product 1.

Something produced by human or mechanical effort or by a natural process.

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How can pricing influence to consumers

Consumer Price Sensitivity and Price Threshold

Sangman Han, Sunil Gupta, and Donald R. Lehmann Of all the tools available to marketers, none is more powerful than price. Price has a significant influence on consumers' purchase behavior and consequently on firm sales and profits. It is therefore not surprising that price promotion has become an increasingly large fraction of the marketing budget and an almost ubiquitous aspect of consumer choice. In fact, consumers may be both conditioned to expect deals and desensitized to small ones. As a consequence, changes from a base or reference price are likely to have an impact only when the price change is above a threshold. The purpose of this article is to explore the existence and magnitude of price thresholds and the factors that influence these thresholds. We allow price thresholds to be probabilistic and be influenced by company, competitor and consumer factors. These thresholds capture consumer insensitivity to small changes in price, or the zone of price indifference. We also allow the thresholds to be asymmetric for price decreases (or gains) and price increases (or losses). The proposed model and three competing models were estimated on scanner panel data for coffee purchases. The proposed model fits the data better than competing models. Our results show that contrary to prospect theory the impact of price increases and decreases are approximately equal once the threshold is reached. Therefore the findings that losses loom larger than gains may be due to differences in the size of thresholds. We also find that own-price volatility increases the threshold for loss. In other words, with greater uncertainty in prices due to, say, frequent price promotions, consumers tolerate larger deviations (losses) from their reference prices. However, own-price volatility decreases consumers' threshold for gain, thereby making them more sensitive to small deviations (gains) in prices from their reference prices. These results suggest that frequent discounting may increase consumers' price sensitivity in the long run. Our results also show that discounting by competing brands does not have a significant effect on the threshold for gain, but it significantly decreases the threshold for loss. In other words, while consumers feel a significant loss or disappointment toward a target brand if competing brands offer substantial discounts, they do not perceive any gain toward a target brand if competing brands are not discounting. The asymmetric results for own-price volatility and competitive brands discounting are interesting. These results suggest that consumers are more sensitive to the loss (with respect to reference price of a brand) when competing brands are offering larger discounts. At the same time, consumers appear to be more sensitive

to gain as the price volatility of the target brand increases. Put together, these findings suggest a dual role of price promotions increase sensitivity to gain for own brand, and also increase sensitivity to loss for competing brands. If all brands have a similar effect, this can lead to increasing price promotion, a phenomenon that we observe in the market place. In addition to providing a better understanding of consumer purchase process, our model offers useful guidelines to managers for segmentation and assessing the power of their brands. Thresholds for gains and losses provide a measure of the price gap (between reference price and shelf price) that is needed to impact consumer choice. One way to segment consumers is based on their thresholds. Consumers with large thresholds arc less price sensitive than consumers with relatively small thresholds. Similarly a comparison of threshold sizes for different brands provides an interesting measure of relative power or effectiveness of the price promotions of different brands. Brands with a small threshold for gain need offer only a small discount to realize significant effects on consumer choice behavior. In other words, these brands have high leverage. Similarly, brands with a large threshold for losses have latitude in raising prices or high resistance. In sum, we proposed and illustrated a simple model that includes probabilistic thresholds for gains and losses with respect to reference price of a brand. This model fits the data better than the existing models, provides better understanding of consumer purchase behavior, and offers useful insights for brand managers.

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