Exam 1

7. Online computer shopping at websites make it possible for individual consumers to get direct information from hundreds of companies they would not otherwise know about. Consumers can place an order for a purchase that is then shipped to them directly. Will growth of these services ultimately eliminate the need for retailers and wholesalers? Explain your thinking, giving specific attention to what marketing functions are involved in these “electronic purchases” and who performs them.

Yes, I believe these types of services will eliminate the need for retailers and wholesalers. Depending on the website and company involved, many online companies handle some of the same marketing functions as retailers and wholesalers, such as storing, selling, standardization and grading. Many e-commerce sites have warehouses for storage as well. 13. Define the marketing concept in your own words, and suggest how acceptance of this concept might affect the organization and operation of your college.

Marketing concept is about customer satisfaction while making a profit. Rather than giving people an education, Paul D Camp would sell degrees based on supply and demand. The customer value for degrees would be extremely high and profitable. Currently, the Bookstore would probably remain the same. Tutoring services would have an hourly rate. Computer labs would have additional, yet costly services – all based on demand. 8. Consider the market for off-campus apartments in your city.

Identify some submarkets that have different needs and determining dimensions. Then evaluate how well the needs in these market segments are being met in your geographic area. Is there an obvious breakthrough opportunity waiting for someone? Some of the submarkets include Single Parent, Family Orientated, Education Focused, Work Focused, Exercisers, Environmentalists, and Special Needs. Some of the dimensions include Needs, Benefits, Kind of Shopping, Information Required, Region, Income, Family Size, Occupation, and Social Class.

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Most needs are being met except for the education focused submarket. There aren’t any options for student housing for low-income or no-income students who are focused on a 2 year education. An obvious breakthrough would be to offer a loan-based housing plan for students at Paul D Camp. Students would be able to focus on their education while having a place to live. These services could be expanded into other areas such as good allowances and day to day living expense loans.

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