Questions and Answers of Foundations of Marketing

5 Analyse the main influences on consumer behaviour – personal and social influences
4 Understand the differences between consumer and organizational buyer behaviour
3 Compare and contrast different theories of the buying decision process
2 Explain the different roles played in a buying decision
1 Understand the key dimensions of customer behaviour
4. Discuss issues of compatibility of a corporate social responsibility (CSR) strategy with competition for a global luxury fashion brand such as Hidesign.
3. Evaluate Hidesign’s marketing mix. What are its strengths and weaknesses?
2. Using Porter’s ‘five forces’ framework, discuss competitiveness within the global luxury fashion market.
1. Evaluate the macroenvironment of the global luxury fashion market. Is India any different? Discuss implications for Hidesign.
6 Explain how companies respond to environmental change.
5 Analyse the impact of customers, distributors, suppliers and competitors on marketing decisions
4 Critique the nature of corporate social responsibility and ethical marketing practices
3 Analyse the impact of economic, social, political and legal, physical and technological forces on marketing decisions
2 Explain the distinction between the microenvironment and the macroenvironment
1 Understand what is meant by the term ‘marketing environment’
4. Is this genuinely a case of how marketing can be used for the good of society? Can you think of any ethical problems with the social marketing approach?
3. Consider each of the elements of the NSMC’s criteria in the context of the DVD identifying how each element applies.
2. What do you consider to be the main marketing challenges to the PCT reaching its stated target of a 6 per cent reduction in smoking in pregnant women?
1. Explain the main differences between social marketing and a ‘traditional’ approach to marketing. Consider the roles of the customer and marketer, segmentation and targeting and the
8 List the main components of a marketing plan.
7 Explain the difference between marketing strategy and marketing tactics
6 Critique the role of marketing in society
5 Analyse the impact of marketing activity on organisational performance
4 Explain the scope of marketing
3 Describe how marketing thought has developed over the years
2 Understand the nature of customer value
1 Understand what marketing is
Identify the resellers in your distribution channel. Discuss the role that trade sales promotions to these resellers could play in the development of your promotional plan.
What types of sales promotion methods have you observed recently? Comment on their effectiveness.
Review Table 16.3 and discuss possible uses for publicity in your promotional plan.
Using Table 16.1 as a guide, evaluate the different types of media and determine which would be most effective in meeting your promotional objectives (from Chapter 15).
What are your objectives for promotion? Use Table 15.2 as a guide in answering this question.
Which criticisms of promotion do you believe are the most valid? Why?
If your product will be sold to another member in the marketing channel, discuss whether a merchant wholesaler, agent, or broker is most suitable as your channel customer.
Are direct-marketing or direct-selling methods appropriate for your product and target market?
Discuss the physical functions that will be required for distributing your product, focusing on materials handling, warehousing, and transportation.
Using Figure 13.2 (or 13.3 if your product is a business product), determine which of the channel distribution paths is most appropriate for your product. Given the nature of your product, could it
Select a basis for pricing your product (cost, demand, and/or competition). How will you know when it is time to revise your pricing strategy?
See Table 6.1. What type of decision making are your customers likely to use when purchasing your product?
Describe the subcultures to which you belong. Identify buying behavior that is unique to one of your subcultures.
Discuss how your product should be positioned in the minds of customers in the target market relative to the product positions of competitors.
In your local area, identify a group of people with unsatisfied product needs who represent a market. Could this market be reached by a business organization? Why or why not?
Using Table 4.3, choose the appropriate survey method(s) you would use to collect primary data for one of your information needs. What sampling method would you use?
Determine whether or not this information can be obtained from secondary sources. Visit the websites provided in Table 4.2 as possible resources for the secondary data.
Define the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do
Do you think TOMS is successful because of its unique products, or its approach to social responsibility?
Describe the current competitive market for your product. Can you identify the number of brands or market share they hold? Expand your analysis to include other products that are similar or could be
Conduct a SWOT analysis of your company to identify its strengths and weaknesses. Continue your analysis to include the business environment, discovering any opportunities that exist or threats that
Describe several reasons for studying marketing
Discuss the differences between sales and market orientations
Describe four marketing management philosophies
Explain how discounts, geographic pricing, and other pricing tactics can be used to fine-tune a base price
Identify the legal constraints on pricing decisions
Describe the procedure for setting the right price
Demonstrate how the product life cycle, competition, distribution and promotion strategies, customer demands, the Internet and extranets, and perceptions of quality can affect price
Describe cost-oriented pricing strategies
Understand the concepts of dynamic pricing and yield management systems
Explain the role of demand in price determination
List and explain a variety of pricing objectives
Discuss the importance of pricing decisions to the economy and to the individual firm
Understand the asp
Describe the impact of mobile technology on social media
Describe the social media tools in a marketer’s toolbox and how they are useful
Explain consumer behavior on social media
Evaluate the various methods of
Explain how to create a social media campaign
Describe social media, how they are used, and their relations to integrated marketing communications
Describe the use of customer relationship management in the selling process
Understand the functions and roles of sales management
List and explain the steps in the selling process
Discuss the key differences between relationship selling and transactional
Discuss technology’s impact, including social media, on the sales environment
Describe personal selling
Understand the sales environment
Define and state the objectives of sales promotion and the tools used to achieve them
Discuss the role of public relations in the promotional mix
Describe media evaluation and selection techniques
Discuss the creative decisions in developing an advertising campaign
Identify the major types of advertising
Discuss the effects of advertising on market share and consumers
Describe the factors that affect the promotional mix
Discuss the concept of integrated marketing communications
Discuss the AIDA concept and its relationship to the promotional mix
Discuss the elements of the promotional
Explain the goals and tasks of promotion
Discuss the role of promotion in the marketing mix
Summarize current trends related to customer data, analytics, and technology
Understand how retailers address product/service failures, and discuss the opportunities that service failures provide
Discuss how services retailing differs from goods retailing
Explain how retail marketing strategies are developed and executed
Discuss the different retail operations models, and understand why they vary in strategy and format
Explain why nonstore retailing is on the rise, and list the advantages of its different
List and understand the different types of retailers
Explain the importance of the retailer within the channel and the U.S. economy
Discuss omnichannel and multichannel marketing in both B-to-B and B-to-C structures, and explain why these concepts are important
Describe common channel structures and strategies and the factors that influence their choice
Explain what marketing channels and channel intermediaries are, and describe their functions and activities
Discuss how new technology and emerging trends are impacting the practice of supply chain management
Understand the importance of sustainable supply chain management to modern business operations
Identify the eight key processes of excellent supply chain management, and discuss how each of these processes affects the end customer

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