A good way to illustrate derived demand is to study
Question # 00243924
Posted By:
Updated on: 04/10/2016 12:31 PM Due on: 05/10/2016
TOPIC 1: Derived Demand
A good way to illustrate derived demand is to study the LeBron effect, the
economic boost the basketball superstar LeBron James brought to his hometown of
Cleveland, Ohio. Watch this video as the LeBron effect illustrates how businesses
throughout the Cleveland area prospered and declined as a result of his choice of
where to play.
Cleveland's Basketball Boom Brings Economic Vigor:
http://www.econedlink.org/interactives/index.php?iid=87
Can you think of another situation similar to the LeBron effect in which derived
demand was created by something that happened in the external environment—
something that caused other companies to sell their products to other businesses to
meet new demand? For example, after 9/11, many people were concerned for their
safety or their ability to survive during an attack. This prompted companies to
market safety kits for home and auto. Most of these kits were compilations of
existing products, but the derived demand for bandages, flashlights, and so forth
increased.
TOPIC 2: Buying Centers
Consider your own workplace. Do you work for a company, the military, or at a
nonprofit institution such as a hospital? Describe your organization's buying center
and how it adds value by procuring what your organization needs to conduct its
business and produce its own products or services. How are the buying decisions
made?
TOPIC 3: Primary Marketing Research
A key use of marketing research is customer satisfaction. Let's use our student
population in this course. Take the following survey and then comment on what you
think is wrong and what is right with the survey design. What kind of information do
you think it would give about students in MRKT 310? What do you think is
missing? Are there any areas of inquiry that should have been included? What about
demographics? Do you think demographic data is important in this situation?
https://www.surveymonkey.com/s/PSP5C5B
A good way to illustrate derived demand is to study the LeBron effect, the
economic boost the basketball superstar LeBron James brought to his hometown of
Cleveland, Ohio. Watch this video as the LeBron effect illustrates how businesses
throughout the Cleveland area prospered and declined as a result of his choice of
where to play.
Cleveland's Basketball Boom Brings Economic Vigor:
http://www.econedlink.org/interactives/index.php?iid=87
Can you think of another situation similar to the LeBron effect in which derived
demand was created by something that happened in the external environment—
something that caused other companies to sell their products to other businesses to
meet new demand? For example, after 9/11, many people were concerned for their
safety or their ability to survive during an attack. This prompted companies to
market safety kits for home and auto. Most of these kits were compilations of
existing products, but the derived demand for bandages, flashlights, and so forth
increased.
TOPIC 2: Buying Centers
Consider your own workplace. Do you work for a company, the military, or at a
nonprofit institution such as a hospital? Describe your organization's buying center
and how it adds value by procuring what your organization needs to conduct its
business and produce its own products or services. How are the buying decisions
made?
TOPIC 3: Primary Marketing Research
A key use of marketing research is customer satisfaction. Let's use our student
population in this course. Take the following survey and then comment on what you
think is wrong and what is right with the survey design. What kind of information do
you think it would give about students in MRKT 310? What do you think is
missing? Are there any areas of inquiry that should have been included? What about
demographics? Do you think demographic data is important in this situation?
https://www.surveymonkey.com/s/PSP5C5B
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Rating:
/5
Solution: A good way to illustrate derived demand is to study