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A GOOD WAY TO ILLUSTRATE DERIVED DEMAND IS TO STUDY THE LEBRON EFFECT, THE ECONOMIC

A GOOD WAY TO ILLUSTRATE DERIVED DEMAND IS TO STUDY THE LEBRON EFFECT, THE ECONOMIC

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Author: Joyce Buda
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http://theperfecthomework.com/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/


TOPIC 1: Derived DemandA good way to illustrate derived demand is to study the LeBron effect, theeconomic boost the basketball superstar LeBron James brought to his hometown ofCleveland, Ohio. Watch this video as the LeBron effect illustrates how businessesthroughout the Cleveland area prospered and declined as a result of his choice ofwhere to play.Cleveland's Basketball Boom Brings Economic Vigor:http://www.econedlink.org/interactives/index.php?iid=87Can you think of another situation similar to the LeBron effect in which deriveddemand was created by something that happened in the external environment—something that caused other companies to sell their products to other businesses tomeet new demand? For example, after 9/11, many people were concerned for theirsafety or their ability to survive during an attack. This prompted companies tomarket safety kits for home and auto. Most of these kits were compilations ofexisting products, but the derived demand for bandages, flashlights, and so forthincreased.TOPIC 2: Buying CentersConsider your own workplace. Do you work for a company, the military, or at anonprofit institution such as a hospital? Describe your organization's buying centerand how it adds value by procuring what your organization needs to conduct itsbusiness and produce its own products or services. How are the buying decisionsmade?TOPIC 3: Primary Marketing ResearchA key use of marketing research is customer satisfaction. Let's use our studentpopulation in this course. Take the following survey and then comment on what youthink is wrong and what is right with the survey design. What kind of information doyou think it would give UMUC about students in MRKT 310? What do you think ismissing? Are there any areas of inquiry that should have been included? What aboutdemographics? Do you think demographic data is important in this situation?https://www.surveymonkey.com/s/PSP5C5B


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