Learning Goal: I’m working on a business exercise and need the explanation and answer to help me learn.
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Reading required: – Read Chapter 1, 2, and 5 carefully and then answer the following questions based on your understanding.
- Based on the discussion made in Chapter-1 regarding the value creation concept, explain how a SR100 Timex watch and a SR20000 Rolex watch deliver value to their respective target markets? Which factors account for this dramatic difference in watch prices? Critically examine and provide your answer.
- Lexus brand is owned by the Toyota MotorCorporation. In many ways Lexus the luxury vehicle brand, operatesindependently from the Toyota Motor Corporation. Visit their websites (Lexus , Toyota ) and identify what markets eachbrand targets and how the two companies use the marketing mix (4Ps)differently to target their unique target markets?
- Being a student of marketing management, criticallyexamine how the technological advances such as artificial intelligence isinfluencing marketers in the current scenario? Critically examine and provideyour answer with suitable examples.
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