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mktg principles of marketing

Questions and Answers of MKTG Principles Of Marketing

3. What factors does a cosmetics company need to consider when designing its marketing channel for a new low-priced line of cosmetics?
2. Explain how channel members add value for manufacturers and consumers.
1. Discuss the various types of conflict that may arise in a marketing channel. Are all channel conflicts bad?
3 Would it be possible to expand the Gekås concept to other locations?
2 What are the main impediments to further growth? Consider all the factors, e.g. procurement, infrastructure and consumer behaviour.
1 How big can Gekås grow in its current location?
7 Describe the major retailer marketing decisions.
6 Explain the major types of wholesalers and their marketing decisions.
5 Explain the role of retailers in the marketing channel and describe the major types of retailers.
4 Explain how companies select, motivate and evaluate channel members.
3 Identify the major decisions open to a company in setting up marketing channels.
2 Discuss how channel members interact and how they organise to perform the work of the channel.
1 Explain why companies use marketing channels and discuss the functions these channels perform.
4. If there is a 40 per cent rise in the rent paid by a business for its factory unit, what will happen to the fixed cost line on a break-even chart?
3. A business increases its price per unit from SEK 50 to SEK 60. At SEK 50 the sales were 6,000 units;they are now 5,500. Explain how the price change has affected demand.
2. What is the contribution earned from each mobile phone cover?
1. What is the variable cost of producing 1,000 mobile phone covers?
2. Is it fair that a buyer can exert so much power over a supplier? Are there any benefits to consumers?
1. Is there an example of a monopsony in your own country? Explain why this might be the case.
4. You are an owner of a small independent chain of coffee houses competing head-to-head with Coffeehouse by George – certainly a small player with its about 30 coffee houses compared to Starbucks,
3. What does the following positioning statement suggest about the firm’s marketing objectives, marketing mix strategy and costs? ‘No one beats our prices. We crush the competition.’ Explain
2. Find estimates of price elasticity for a variety of consumer goods and services. Explain what price elasticities of 0.5 and 2 mean. (Note: these are absolute values, as price elasticity is usually
1. In a small group, discuss your perceptions of value and how much you are willing to pay for the following products: cars, frozen dinners, jeans and trainers. Are there differences among members of
9. Compare and contrast the geographic pricing strategies companies use for customers located in different parts of the country or world. Which strategy is best? Could any tendencies in terms of what
8. Retailers often use psychological pricing as a price-adjustment strategy. Explain this pricing strategy. How do reference prices affect psychological pricing decisions?
7. Name and briefly describe the five product mix pricing decisions.
6. Explain market-skimming and marketpenetration pricing strategies. Why would a marketer of innovative high-tech products choose market-skimming pricing rather than market-penetration pricing when
5. Name and describe the four types of markets recognised by economists and discuss the pricing challenges posed by each.
4. Discuss other internal and external considerations besides cost and customer perceptions of value that affect pricing decisions.
3. Compare and contrast fixed and variable costs and give an example of each.
2. Name and describe the two types of value-based pricing methods.
1. Explain the differences between valuebased pricing and cost-based pricing.
6 Discuss the key issues related to initiating and responding to price changes.
5 Discuss how companies adjust their prices to take into account different types of customers and situations.
4 Describe the major strategies for pricing imitative and new products.
3 Identify and define the other important external and internal factors affecting a firm’s pricing decisions.
2 Discuss the importance of company and product costs in setting prices.
1 Discuss the importance of understanding customer value perceptions when setting prices.
3. A British Airways advertisement suggests the following: ‘Our simple goal is to deliver the best service you could ask for, without you having to ask.’ It is an ambitious statement which many
2. Choose three industries you have a fair knowledge of, and explain how the increasing focus on experiences is influencing the industry and their marketing offers.
1. There are many examples of companies entering a new market with an exclusive brand, thus enjoying a high price premium for their products, and then high sales volumes become the priority.For
6. Describe the main thinking in servicedominant logic.
5. What characteristics do services have, as compared with physical products?
4. Give a few examples of downward stretch and a few of upward stretch, and discuss the implications of these strategies.
3. What are the main differences between consumer and industrial products?
2. What is the main point and benefit of dividing a product or service into different product levels?
1. Give at least three examples of products that provide substantial consumer benefits and, accordingly, the opportunity to charge a higher price. Attempt to explain the benefits in a convincing
3 Identify the four characteristics that affect the marketing of a service and the additional marketing considerations that services require.
2 Describe the decisions companies make regarding their individual products and services, product lines and product mixes.
1 Define product and the major classifications of products and services.
2. Assume the company expects to sell 300 million ounces of the new product within the first year following its introduction. However, half of those sales are expected to come from buyers who would
1. What brand development strategy is this business undertaking?
4. In the text, you can read about cornerstones of strong brands. What would be the cornerstones of a weak brand?
3. Multibrands, in a retail context often referred to as multi-franchising, have some conceptual benefits and problems. Discuss two industries where this practice is common and try to find out more
2. Discuss employers you/your group members have worked for: (a) how do you perceive their employer brand?; (b) how might they improve their employer brands, given the preferences you have?
1. Discuss the implications of the Audi case and suggest brands in two other industries that have succeeded – either in general terms or with going upmarket. To what extent do your examples
5. Brand extension is a common practice. Try to identify two good examples of brand extensions and two poor examples. What patterns did you find, and what did you learn about brand extensions?
4. Define co-branding, and give one good and one poor example of co-branding practice. Explain your thinking.
3. What are the main similarities and differences between a consumer brand and an employer brand?
2. What are the main benefits of creating a place brand? Which are the main pitfalls and problems in this context?
1. Which are the main characteristics of strong brands?
6 What should Audi do to protect and develop its strong position in the future?
5 How could Audi strengthen its position in relation to young car buyers in particular?
4 What are the main challenges for Audi in the future?
3 What are the main threats to a premium brand?
2 What are the main building blocks of a premium brand?
1 What are the main reasons that Audi succeeded in becoming a premium brand?
3 Describe the fundamentals of strong brands – the decisions companies make in building and managing their brands.
2 Discuss branding strategy – the decisions companies make in defining and managing their brands.
1 Describe the fundamentals and characteristics of different situations in which a brand perspective may apply.
■ Cornerstones of a strong brand
■ Company case – Chiquita: using the brand as a bridge for broadening the brand width
■ Company case – Brand sponsorship: Nordea Scandinavian Masters
■ Company case – TRIWA – the conventional rebel watch: success through category repositioning
■ Company case – Björn Borg: from tennis player and endorser to global brand
■ Branding strategy: building strong brands
■ Best practice – The employees’ social network: a great marketing opportunity
■ Company case – Creating a premium brand: the Audi success story
3. How would you describe the practice of marketing to children from a sustainability perspective?
2. Give an example of a company that is countering this trend by offering age-appropriate products for children.
1. Do you think marketers are to blame for kids getting older younger? Give some other examples.
2. Form a small group and create an idea for a new reality television show. Using the format provided in the chapter, develop a positioning statement for this television show. What competitive
1. Assume you work at a regional university in your country. The traditional market for the university is post-secondary school students in your region who have attained sufficiently high
6. Name and define the five winning value propositions described in the chapter.Which value proposition describes IKEA, ICA and Skandiabanken? Explain your answer.
5. What is a product’s ‘position’ and how do marketers know what it is?
4. Compare and contrast undifferentiated, differentiated, concentrated and micromarketing targeting strategies.Choose a product category for each targeting strategy and explain your choice.
3. Name four major study programmes at your university. Describe the segmentation variables you think the study programmes would benefit from using in its marketing, i.e. activities to recruit
2. Name and describe the four major sets of variables that might be used in segmenting consumer markets. Which segmenting variable(s) do you think ICA is using? Here, you should consider both the
1. Briefly describe the four major steps in designing a customer-driven marketing strategy.
● Actionable: effective programmes can be designed for attracting and serving the segments.For example, although one small airline identified seven market segments, its staff was too small to
● Differentiable: the segments are conceptually distinguishable and respond differently to different marketing mix elements and programmes. If married and unmarried women respond similarly to a
● Substantial: the market segments are large or profitable enough to serve. A segment should be the largest possible homogeneous group worth pursuing with a tailored marketing programme. It would
● Accessible: the market segments can be effectively reached and served. Suppose a fragrance company finds that heavy users of its brand are single men and women who stay out late and socialise a
● Measurable: the size, purchasing power and profiles of the segments can be measured.Certain segmentation variables are difficult to measure. For example, there are many lefthanded people in the
4 Discuss how companies differentiate and position their products for maximum competitive advantage in the marketplace.
3 Explain how companies identify attractive market segments and choose a market-targeting strategy.
2 List and discuss the major bases for segmenting consumer and business markets.
1 Define the major steps in designing a customer-driven marketing strategy: market segmentation, targeting, differentiation and positioning.
■ Company case – Staples: smart positioning?
■ Differentiation and positioning

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