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mktg principles of marketing

Questions and Answers of MKTG Principles Of Marketing

5-2 Why are marketers interested in consumer lifestyles and what dimensions do they use to measure lifestyle?
5-1 What is subculture? Describe at least two subcultures to which you belong and identify any reference groups that might influence your consumption behaviour. (AACSB:Communication; Diversity;
The buyer decision process for new products(pp. 158–160)
for new products.
➤ Objective 4 Describe the adoption and diffusion process
Types of buying decision behaviour (pp. 153–155)The buyer decision process (pp. 156–158)
➤ Objective 3 List and define the major types of buying decision behaviour and the stages in the buyer decision process.
Characteristics affecting consumer behaviour(pp. 140–153)
➤ Objective 2 Name the four major factors that influence consumer buyer behaviour.
Model of consumer behaviour (p. 139)
➤ Objective 1 Define the consumer market and construct a simple model of consumer buyer behaviour.
3. How can Holland & Barrett use marketing information and customer insights to ensure that all the implemented changes have succeeded?
2. With the streamlining of its loyalty card scheme what should Holland & Barrett do to enhance its customer relationship management?
1. How has Holland & Barrett mined its big data to use market information more effectively?
4-14 What sample sizes are necessary at population sizes of 1 billion, 10,000, and 100 with a confidence interval of 5 and a 95 per cent confidence level? Explain the effect population size has on
4-13 Go to www.surveysystem.com/sscalc.htm to determine the appropriate sample size for a population of 115 million households (the number for the US). Assuming a confidence interval of 5, how large
4-12 How can businesses protect themselves from corporate espionage? (AACSB: Communication; Reflective thinking)
4-11 Find another example of corporate espionage and write a brief report on it. Did the guilty party pay restitution or serve prison time? Discuss what punishments, if any, should be levied in cases
4-10 Critics claim that research activities such as this infringe on consumer privacy rights. Should marketers have access to such information? Discuss the advantages and disadvantages of such
4-9 Visit www.youarewhatyoulike.com to see what your‘Likes’ say about you. You will have to log on to Facebook to see the results. What characteristics are shown? Does the profile describe you
4-6 In a small group, identify a problem faced by a local business or charitable organisation and propose a research project addressing that problem. Develop a research proposal that implements each
4-8 Research the marketing research industry and develop a presentation describing various types of marketing research jobs and compensation for those jobs. Create a graphical representation to
4-7 Go to www.bized.co.uk/learn/business/marketing/research/index.htm and review the various resources available. Select one activity and present what you learned from that activity. (AACSB:
4-5 What are the similarities and differences when conducting research in another country versus the domestic market? (AACSB: Communication)
4-4 How are marketers using customer relationship management(CRM) to reveal customer insights from the vast amounts of data gathered? (AACSB: Communication)
4-3 What is ethnographic research and how is it conducted online? (AACSB: Communication)
4-2 Explain how marketing intelligence differs from marketing research. (AACSB: Communication)
4-1 What is big data and what opportunities and challenges does it provide for marketers? (AACSB: Communication;Reflective thinking)
➤ Objective 5 Discuss the special issues some marketing researchers face, including public policy and ethics issues.Other marketing information considerations(pp. 124–127)
➤ Objective 4 Explain how companies analyse and use marketing information.Analysing and using marketing information(pp. 122–124)
➤ Objective 3 Outline the steps in the marketing research process.Marketing research (pp. 109–122)
➤ Objective 2 Define the marketing information system and discuss its parts.Assessing marketing information needs (p. 106)Developing marketing information (pp. 107–109)
➤ Objective 1 Explain the importance of information in gaining insights about the marketplace and customers.Marketing information and customer insights(pp. 104–106)
6. Does Primark have a robust marketing strategy or was it just lucky enough to be in the right place at the right time? List the arguments both ways and decide which are the most convincing.
5. Given Primark’s current position, what recommendations would you make to the chief executive for the company’s future?
4. What alternative strategy might Primark have followed in harsh economic conditions?
3. By focusing on low prices, has Primark pursued the best strategy? Why or why not?
2. What macroenvironmental factors have influenced Primark’s performance during that period?
1. What microenvironmental factors have influenced Primark’s performance over the past few years?
3-12 Debate whether or not the TiVo/Aereo business model is unethical or just smart marketing based on an opportunity made available by technology. (AACSB: Communication;Use of IT; Reflective
3-11 Learn how Aereo delivered value to customers and how TiVo has now extended the service. Write a report on the TiVo/Aereo value proposition and the four Ps and the potential for replicating the
3-10 ‘A dark social channel’ refers to a private channel or a channel difficult to match with other digital channels. An example of a dark channel is e-mail. However, Google routinely mines its
3-9 Discuss the value of social data for marketers. (AACSB:Communication; Reflective thinking)
3-6 Research a current or emerging change in the legal or regulatory environment in a specific country affecting marketing. Explain its impact on marketing and how companies are reacting to the law
3-8 Discuss a recent change in the technological environment that impacts marketing. How has it affected buyer behaviour and how has it changed marketing? (AACSB:Communication; Reflective thinking)
3-7 Cause-related marketing has grown considerably over the past ten years. Use Google to identify companies with outstanding cause-related marketing programmes.Present a case study of successful
3-5 How should marketers respond to the changing environment?(AACSB: Communication)
3-4 Compare and contrast core beliefs/values and secondary beliefs/values. Provide an example of each and discuss the potential impact marketers have on each. (AACSB:Communication; Reflective
3-3 Who are the Millennials and why are they of so much interest to marketers? (AACSB: Communication; Reflective thinking)
3-2 What is demography and why is it so important for marketers?(AACSB: Communication; Reflective thinking)
3-1 Name and briefly describe the elements of an organisation’s microenvironment and discuss how they affect marketing. (AACSB: Communication)
➤ Objective 5 Discuss how companies can react to the marketing environment.Responding to the marketing environment (pp. 92–93)
➤ Objective 4 Explain the key changes in political and cultural environments.The political and social environment (pp. 88–90)The cultural environment (pp. 90–92)
➤ Objective 3 Identify the major trends in the firm’s natural and technological environments.The natural environment (p. 85)The technological environment (pp. 86–88)
➤ Objective 2 Explain how changes in demographic and economic environments affect marketing decisions.The demographic environment (pp. 74–81)The economic environment (pp. 82–84)
➤ Objective 1 Describe the environmental forces that affect the company’s ability to serve its customers.The microenvironment (pp. 70–72)The macroenvironment (pp. 73–74)
4. Implementing change is never easy. In implementing their plans, what did LEGO do right and what did they do wrong?How would you have done things differently?
3. On which internal and external partners did Jochen’s approach concentrate? Why?
2. Using the product/market expansion grid, which approach has LEGO adopted under the leadership of Jochen? Is this different to past approaches?
1. Prior to 2004, was LEGO focused on its products or its marketplace?Why?
2-8 Create a mission statement for a non-profit organisation you would be interested in starting. Have another student evaluate your mission statement while you evaluate the other student’s
2-7 The Boston Consulting Group (BCG) matrix is a useful strategic tool. Another classic portfolio planning method useful to marketers is the GE/McKinsey matrix (see
2-6 Form a small group and conduct a SWOT analysis for your school, a group that you are a member of, a publicly traded company, a local business, or a non-profit organisation. Based on your
2-10 Discuss how companies such as HP and other PC-makers can adapt to and capitalise on new online, mobile, or social media technologies. (AACSB: Communication;Reflective Thinking)
2-9 Explain which product/market expansion grid strategy PC-makers are currently pursuing to deal with the threat of post-PC mobile devices. Is this a smart strategy?(AACSB: Communication; Reflective
2-5 What is a marketing dashboard and how is it useful to marketers? What types of performance measures do marketers use to assess marketing performance? (AACSB:Communication)
2-4 What are the four Ps of marketing? What insights might a firm gain by considering the four Cs rather than the four Ps? (AACSB: Communication; Reflective thinking)
2- 3 What is positioning and what role does differentiation play in implementing it? (AACSB: Communication)
2-2 Name and describe the four product/market expansion grid strategies. Provide an example of a company implementing each strategy. (AACSB: Communication; Reflective thinking)
2-1 Explain how marketing plays a key role in an organisation’s strategic planning. (AACSB: Communication)
➤ Objective 5 List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring and managing marketing return on investment.Managing the
➤ Objective 4 Describe the elements of a customer value-driven marketing strategy and mix and the forces that influence it.Marketing strategy and the marketing mix (pp. 47–51)
➤ Objective 3 Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value.Planning marketing: partnering to build customer
➤ Objective 2 Discuss how to design business portfolios and develop growth strategies.Designing the business portfolio (pp. 41–44)
➤ Objective 1 Explain company-wide strategic planning and its four steps.Company-wide strategic planning: defining marketing’s role (pp. 38–41)
5. Is Pegasus likely to continue being successful in building customer relationships? Why or why not?
4. What value does Pegasus create for its customers?
3. Which of the five marketing management concepts best applies to Pegasus?
2. Describe in detail all the facets of Pegasus’ product. What is being exchanged in a Pegasus transaction?
1. Give examples of needs, wants and demands that Pegasus customers demonstrate, differentiating these three concepts.What are the implications of each for Pegasus’ practices?
1-7 Search the Internet for salary information regarding jobs in marketing from a website such as www.simplyhired.com/a/salary/search/q-marketing or a similar site. What is the national average
1-6 Go to a company’s, organisation’s or specific brand’s website that has a link to Facebook, Google+, YouTube, Twitter and/or Pinterest. Click on the links and describe how that company is
1-5 When implementing customer relationship management, why might a business desire fewer customers over more customers? Shouldn’t the focus of marketing be to acquire as many customers as
1-4 What is customer-engagement marketing? Describe an example of a brand that engages customers well.(AACSB: Communication; Reflective thinking)
1-3 Describe the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy. (AACSB:Communication; Reflective thinking)
1-2 Explain the importance of understanding the marketplaceand customers and identify the five core marketplace concepts. (AACSB: Communication)
• Objective 1 Define marketing and outline the steps in the marketing process.What is marketing? (pp. 4–5)• Objective 2 Explain the importance of understanding the marketplace and customers
Describe how and why product warranties are important marketing tools AppendixLO1
Discuss global issues in branding and packaging AppendixLO1
Describe marketing uses of packaging and labelling AppendixLO1
Describe marketing uses of branding AppendixLO1
Define the terms product item, product line, and product mix AppendixLO1
Classify consumer products AppendixLO1
Define the term product AppendixLO1
Determine the future challenges for CRM AppendixLO1
Identify privacy issues in CRM AppendixLO1
Describe Stage 3 in the CRM cycle: customer feedback AppendixLO1
Describe Stage 2 in the CRM cycle: business development AppendixLO1
Describe Stage 1 in the CRM cycle: marketing research AppendixLO1
Explain the CRM cycle AppendixLO1

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