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business
marketing management

Questions and Answers of Marketing Management

How can companies combine products to create strong co-brands or ingredient brands? (p. 409)
How can companies use packaging, labeling, warranties, and guarantees as marketing tools? (p. 412)
What were the key steps in maintaining Nivea’s leading position in the global facial care market?
Explain the connection between cultural norms and product choice. What is Nivea’s strategy in respecting cultural diversity while pursuing a global brand strategy?
Discuss Nivea’s future. What should Beiersdorf do next with its product line? Where is the future growth for the brand?
Toyota has built a huge manufacturing capacity that can produce millions of cars each year for a wide variety of consumers. Why was it able to become so much bigger than any other auto manufacturer?
How can services be defined and classified, and how do they differ from goods? (p. 421)
What are the new services realities? (p. 428)
How can companies achieve excellence in services marketing? (p. 432)
How can companies improve service quality? (p. 439)
How can goods marketers improve customer-support services? (p. 440)
How did Club Med reach an upscale positioning and achieve excellence in the quality of service?
Was Club Med’s upmarket positioning the only one viable strategy?
Do you think that Club Med takes a risk by not in specializing in a particular range level, such as 4 trident or 5 trident?
With many hospitals in Asia competing in the medical tourism market, how can Parkway position itself in order to attract more patients?
Parkway hospitals do not employ many doctors but depend on the use of the hospital services by private specialists. What are the risks in this approach?
1. Marketing is pervasive. It is a social process involving the activities that facilitate exchanges of goods and services among individuals and organizations.
2. Customers buy benefits, not products. The benefits a customer receives from a firm’s offering, less the costs he or she must bear to receive those benefits, determine the offering’s value to
3. Delivering superior value to one’s customers is the essence of business success. Because delivering superior value is a multifunctional endeavor, both marketing and nonmarketing managers must
4. A focus on satisfying customer needs and wants is not inconsistent with being technologically innovative.
5. The marketing management process requires an understanding of the 4Cs: the company and its mission, strategies, and resources; the macroenvironmental context in which it operates; customers and
6. Marketing decisions—such as choices about what goods or services to sell, to whom, and with what strategy—are made or approved at the highest levels in most firms, whether large or small.
1. Marketing perspectives lie at the heart of strategic decision making, whether at the corporate, business-unit, or product-market levels. All managers who aspire to general management roles need
2. Market-oriented firms—those that plan and coordinate company activities around the primary goal of satisfying customer needs—tend to outperform other firms on a variety of dimensions,
3. Unethical behavior by a firm’s employees can damage the trust between a firm and its suppliers and customers, thereby disrupting the development of long-term relationships and reducing sales and
4. The four major paths to corporate growth—market penetration, market development, product development, and diversification strategies—imply differences in a firm’s strategic scope, require
5. A strong corporate brand makes sense when companylevel competencies are primarily responsible for generating the benefits and value customers receive from its various product offerings.
6. The ultimate goal in formulating business-unit strategies is to establish a basis for a sustainable competitive advantage that provides superior value to customers.Doing so requires the
7. Successful new firm formation typically requires a competitive strategy that delivers superior value to a narrowly defined target segment in a way that either avoids direct confrontation with
1. Macro trends can and will profoundly influence the success of any business. Serving attractive markets, where trends are favorable—swimming with the tide—is likely to bring more success than
2. Similarly, competing in structurally attractive industries—those where the five forces are, on balance, favorable—is likely to generate higher returns than in less attractive industries.
3. Notwithstanding the first two points above, the degree to which a company’s goods or services resolve genuine customer needs of a clearly defined target market and the degree to which its
4. Understanding market opportunities is about more than understanding customers, competitors, and the environmental context. The capabilities and resources brought by the company itself are also
1. Not all purchase decisions are equally important or psychologically involving for the consumer. People engage in a more extensive decision-making process, involving a more detailed search for
2. Because of the differences in the decision-making process, a given marketing strategy will not be equally effective for both high- and low-involvement products.The consumer marketer’s first
3. Because consumers are generally unwilling to spend much time or effort evaluating alternative brands in a low-involvement product category before making a purchase, marketers need to focus their
4. Regardless of the consumer’s level of involvement with a product category, consumers often prefer different brands because of differences in their psychological or personal characteristics, such
5. Regardless of the consumer’s level of involvement with a product category, consumers often prefer different brands because of differences in their social relationships, such as their culture,
1. While organizational customers are different in some ways from consumers, marketers need to answer a similar set of questions to develop a solid foundation for their marketing plans. Who are our
2. Organizations buy things for one of three reasons:(1) to facilitate the production of another product or service, (2) for use by the organization’s employees in carrying out its operations, or
3. Organizations are social constructions. Therefore,“organizations” do not buy things. Rather, individual employees—usually more than one from different departments and organizational
4. The Internet is simultaneously encouraging two opposing trends in organizational purchasing: (1) the growing use of short-term spot market contracts via Web-based auctions and (2) the
5. The mutual interdependence of organizational buyers and their suppliers makes long-term cooperative relationships crucial for customer retention and marketing success. For firms that sell a
1. Every forecast and estimate of market potential is wrong! Evidence-based forecasts and estimates, prepared using the tools provided in this chapter, are far more credible—and generally more
2. Forecasts have powerful influence on what companies do, through budgets and other planning procedures. Thus, forecasting merits significant management attention and commitment.
3. Superior market knowledge is not only an important source of competitive advantage, but it also results in happier, higher volume of, and more loyal customers.Thus, the systematic development of
4. Much can go wrong in marketing research and often does. Becoming an informed and critical user of marketing research is an essential skill for anyone who seeks to contribute to strategic decision
1. Marketers and entrepreneurs who find new and insightful ways to segment mature markets often uncover opportunities for uncontested market entry and rapid growth.
2. Sharply focused target marketing enables marketers to differentiate from mass-market leaders by giving consumers in a narrowly defined market segment what they want.
3. Focused market entry strategies conserve resources and facilitate early success.
4. The five-step procedure provided in this chapter identifies segments having the highest potential.
5. The market-attractiveness/competitive-position matrix is a useful analytical framework for deciding which markets or market segments to enter and from which to withdraw.
1. Clear and distinctive positioning that differentiates a brand from others with which it competes is usually essential for developing a winning marketing strategy.
2. The positioning process outlined in this chapter helps decision makers choose a position that maximizes their chance of establishing sustainable competitive advantage.
3. Distinctive and intense positioning is best accomplished when based on one or at most two attributes. More are likely to be confusing to customers.
4. Writing clear and succinct positioning statements or value propositions can play an important role in ensuring effective development and execution of a marketing strategy. This chapter provides
5. Effective brand positioning decisions establish the foundation upon which successful marketing strategies and programs are built, thereby setting the stage for the creation of brand equity.
1. Research suggests that a business is likely to achieve superior revenue growth, market share, and profitability when there is a good fit between its competitive strategy and the strategic
2. Business-level competitive strategies can be usefully categorized into (1) prospector strategies focused on growth via the development of new products and markets;(2) defender strategies primarily
3. The generic competitive strategies described in the previous point apply equally well to services and physical products, single-product start-ups and multidivisional corporations, and global and
4. Because the various business-level strategies focus on different objectives and seek to gain a competitive advantage in different ways, marketing may play a different role under each of the
5. The marketing decision maker’s job is to develop a sound, evidence-based marketing strategy for his or her offering and to make a persuasive case for its support. If that strategy does not fit
1. Decisions about product design—including product features, brand names, related services, and warranties, for both goods and services—are among the most critical in differentiating one’s
2. While speed to market is important in today’s fastpaced business climate, bringing the right products to market and keeping them current are far more important than seeking first-mover advantage
3. Decisions about the depth and breadth of product lines must be carefully considered in market segmentation terms. Product lines that are too long or too short can place the company at a
4. Customer-driven innovation approaches like cocreation and collective customer commitment can reduce the likelihood of new product failure and create high levels of customer engagement.
5. How the new product development process is managed, from a process perspective, is as important as what product decisions are made. The stage-gate system helps companies strike a balance between
6. Though new products constitute the lifeblood of longterm success for most firms, most new products fail!Thus, product decisions, in both content and process terms, are critical to the successful
7. Regardless of the nature of the playing field, developing and regularly updating winning marketing strategies are important, too! In developing strategies to build and sustain competitive
1. Pricing decisions involve an inherent conflict between (1)the need to win customers by allowing them to retain a portion of the value inherent in a product or service and(2) the need to maintain
2. The price of a good or service must be high enough to cover per unit costs—at least in the long term—but cannot exceed its value as perceived by the customer. Therefore, the region between
3. The decision about what price to select from within the range of feasible prices should be based on a careful analysis of competitors’ costs and prices, the product’s strategic objectives, and
4. Perhaps the key concept in setting a price is the notion of perceived value. An essential purpose of the price set by a marketing manager should be to enable the firm to capture a fair share of
5. The final step in deciding what price to charge for a product or service involves the development of a price structure that adapts the price to variations in cost and demand across geographic
1. The importance of good distribution decisions in designing a marketing plan is simple: Customers won’t buy your good or service unless it is conveniently available when and where they want to
2. Distribution channel decisions have a major economic impact because distribution costs, many of which do not even appear in the firm’s income statement, often exceed the costs of producing a
3. Channel design involves decisions about the appropriate types and numbers of middlemen to include in the distribution channel in order to link the marketing strategy for the good or service to the
4. Distribution channels can be designed to accomplish a number of objectives, including maximizing the product’s availability, satisfying customer service requirements, encouraging promotional
5. A manufacturer or service provider can attempt to gain the support and direct the efforts of its channel partners through vertical integration, by legal contracts (e.g., franchise agreements), by
1. Marketing managers in most companies face fundamental strategic decisions about whether to emphasize advertising or personal selling in their promotion mix. Identifying the strategic
2. Getting marketing communications messages—of any kind, in any medium—noticed and understood is no easy task. Many ads and other communication attempts simply don’t meet their objectives.
3. A clear understanding of one’s target market is essential for planning and implementing an effective promotional program. Without such an understanding, money is likely to be wasted.
4. Many marketing communications efforts are not easy to evaluate. Setting clear and measurable objectives up front facilitates doing so.
5. New media, including the Internet, e-mail, and mobile telephones, are predicted to revolutionize ad spending, because their results—like those for direct marketing programs—can often be
6. In companies of all sizes, technology will play an increasingly meaningful role in managing sales and customer service efficiency and effectiveness. Caution must be exercised, however, to avoid
7. For new product launches on limited budgets, sales promotion alone can deliver substantial impact at a fraction of the cost of conventional approaches.
1. Seven potentially attractive elements characterize many new-economy technologies: the syndication of information, the increasing returns to scale of network products, the ability to efficiently
2. First-mover advantage is simply wrong. Best beats first.
3. Most observers now believe that the Internet is better suited for delivering measurable marketing results—as is direct marketing—than for brand building.
4. Web-based customer service applications offer the tantalizing combination of better service and significant cost savings. The trick, of course, is to focus on the customer service benefits first,
5. Keys to success in tomorrow’s new-economy ventures include clearly understanding one’s business model(Exactly where will revenue come from: commerce, content, community, or infrastructure?),
1. Being the pioneer in a new product or service category gains a firm a number of potential advantages. But not all pioneers are able to sustain a leading position in the market as it grows. A
2. Some pioneers attempt to penetrate the mass market and remain the share leader as that market grows. Others adopt a strategy geared to making profits from specialized niche markets where they will
3. If a market leader wishes to maintain its number one share position as the product category moves through rapid growth, it must focus on two important objectives:(1) retaining its current
4. For a challenger to increase its market share relative to the leader, it must differentiate its offering by delivering superior product benefits, better service, or a lower price than the leader.
1. Strategic choices in mature, or even declining, markets are by no means always bleak. Many of the world’s most profitable companies operate largely in such markets.
2. A critical marketing objective for all competitors in a mature market is to maintain the loyalty of existing customers. To accomplish that goal, firms must pursue improvements in the perceived
3. An important secondary objective for some firms, particularly share leaders, in mature markets is to stimulate further volume growth by taking actions to convert nonusers into users, to increase
4. Declining markets can still offer attractive opportunities for sales revenues and profits. Their attractiveness—and the appropriate marketing strategy to follow—depends on, among other things,
1. While much of this book has covered the various analytical tools and frameworks necessary to develop effective marketing strategies, such strategies are worthless without good implementation.

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