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business
principles of marketing

Questions and Answers of Principles Of Marketing

=+2 Red Bull make excellent use of paid, owned and earned media. Identify exam-ples of each and discuss how they support each other to maximise audience reach.
=+3 How well integrated are Red Bull's market-ing communications activities? What pulls them together?
=+1 How would you categorise Dorset Cereal's distribution strategy before and after the re-positioning exercise? Why?
=+2 Discuss the advantages and drawbacks of a brand like Dorset Cereals being stocked by large supermarkets such as Tesco and Sainsbury's.
=+3 Revisit the section headed 'Marketing functions in the supply chain' above. How can Dorset Cereals and its retail partners manage these marketing activities to the best, mutual advantage? What
=+1 Why was Levi's so reluctant to sell its jeans to Tesco?
=+2 How was Tesco able to sell the jeans so cheaply?
=+3 If large food retailers are able to sell designer brands at cheap prices, what are the long-term implications for branding?
=+1 Identify the elements of Apple's brand identity.
=+2 Was the launch of the iPhone a line exten-sion, a brand extension or a brand stretch?Explain your answer and then discuss the advantages of this strategy.
=+3. What evidence is there that Apple enjoys a high level of brand loyalty? What advan-tages does this bring the company?
=+4 Is Apple a lifestyle brand? Give reasons for your answer. (You may want to refer back to the section on lifestyle branding in Chapter 1.)
=+5 Should electronics manufacturers take responsibility for the impact of their prod-ucts on the environment?
=+ What could they do to make their businesses more environ-mentally friendly?
=+1 What were VW's objectives in launching the New Beetle?
=+ To what extent do you think they succeeded?
=+2 Applying Porter's generic strategies (see p. 535) how would you classify VW's strat- egy for the Beetle? Why? Did it change over the years?
=+3 Using Internet sources and market research reports such as Mintel, Euro- monitor and Keynote, as well as the information below, write a PRESTCOM and a SWOT analysis for the VW Beetle.
=+4 Discuss the target markets for the Beetle and the Mini. How far do they overlap?
=+Have they changed over the years?
=+5 Using your answers to questions 3 and 4 above, and drawing on the case material and this chapter, write an outline strategic plan for the VW Beetle for next year. You I will have to make some
How many years (t) can we expect to do business with a customer? The total number of years is denoted by T. To estimate CLV, firms use past behaviors to forecast future purchases, the gross margin
How might the current price wars change the pricing tactics used by the major pizza chains? PIZZA PLAYERS, PIZZA PRICES For most of us, “pizza wars” suggest the fight over which toppings to put
What can we expect the annual profits to be from an individual customer or an average customer? These profits are based on sales minus the costs of merchandise and the costs of serving and retaining
What is the retention rate—that is, the average percentage of customers who continue to purchase from the firm from one time period to another?A 90 percent retention rate means that if we have 100
What is the discount rate (i)? The discount rate is based on the idea that a dollar is worth less in the future than it is today, so the company can use it to adjust future profits and determine a
Which pricing tactics does each company utilize?Evaluate the effectiveness of each one of these tactics for the particular pizza chain. PIZZA PLAYERS, PIZZA PRICES For most of us, “pizza wars”
Explain which product/market expansion grid strategy PC-makers are pursuing to deal with the threat of post-PC mobile devices. Is this a smart strategy?(AACSB: Communication; Reflective Thinking)
Discuss how companies such as HP and other PCmakers can adapt to and capitalize on new online, mobile, or social media technologies. (AACSB:Communication; Reflective Thinking)
Should these shoemakers capitalize on consumers who want to be fit without doing the work to achieve that goal? Do you think that basing claims on research sponsored by the company is ethical?Explain
Should Nike have entered this product category instead of giving up market share to competitors?Explain your reasoning. (AACSB: Communication;Ethical Reasoning)
List some of the demographic trends of interest to marketers in your country and discuss whether these trends pose opportunities or threats for marketers.
Discuss current trends in the economic environment of which marketers must be aware of and provide examples of companies’ responses to each trend.
Terrorism is increasing worldwide. Attacks in India and Indonesia have affected foreign (notably, American) tourists and institutions (such as hotels).How should marketers, particularly those
Discuss the value of marketing research and marketing information and how that value is attained.
Which information is more valuable to marketers—information from internal databases, marketing intelligence, or marketing research? How do these information sources differ?
What are the similarities and differences when conducting research in another country versus the
List the major influences on business buyers. Why is it important for the business-to-business buyer to understand these major influences?
How do institutional and government markets differ from business markets?domestic market?
How do consumers respond to the various marketing efforts that a company may use? List the buyer characteristics that affect buyer behavior and discuss which one(s) influence you most when making a
Explain what “lifestyle” means. In Asia, what is the significance of family and lifestyle on decision making?
Name and describe the types of consumer buying behavior. Which one would you most likely use when deciding on (a) where to go for a holiday after graduation and (b) picking a restaurant for dinner?
What product characteristics influence an innovation’s rate of adoption? Discuss the characteristics of netbooks in relation to the rate of adoption.
Name and describe the four major sets of variables that might be used in segmenting consumer markets.Which segmenting variable(s) do you think the iPad is using?
Compare and contrast undifferentiated, differentiated, concentrated, and micromarketing targeting strategies.Which strategy do you think works best for (a) Nokia,(b) a dental clinic, and (c) a
Name and define the five value propositions described in this chapter. Which value proposition describes your national airline? Explain your answer.
Define product and the three levels of product.(AACSB: Communication)
Compare and contrast industrial products and consumer products.(AACSB: Communication; Reflective Thinking)
Explain the importance of product quality and discuss how marketers use quality to create customer value. (AACSB: Communication)
Compare and contrast the four brand sponsorship options available to a manufacturer and give an example of each.(AACSB: Communication; Reflective Thinking)
Discuss the brand development strategies marketers use to develop brands. Give an example of each strategy.(AACSB: Communication; Reflective Thinking)
Describe the four characteristics of services that marketers must consider when designing marketing programs. According to these characteristics, how do the services offered by a massage therapist
Name and describe the major steps in developing a new product. (AACSB: Communication)
Define crowdsourcing and describe an example not already presented in the chapter.(AACSB: Communication; Reflective Thinking)
Compare and contrast the terms product idea, product concept, and product image.(AACSB: Communication)
Explain why successful new-product development requires a customer-centered, team-based, and systematic effort. (AACSB: Communication)
Why do products enter the decline stage of the product life cycle? Discuss marketers’ options at this stage. (AACSB: Communication)
Discuss the special challenges facing international product and service marketers.(AACSB: Communication)
What factors must marketers consider when setting prices? (AACSB: Communication)
Name and describe the two types of value-based pricing methods. (AACSB: Communication)
Describe the types of cost-based pricing and the methods of implementing each.(AACSB: Communication)
What is target costing and how is it different from the usual process of setting prices?(AACSB: Communication)
Discuss the impact of the economy on a company’s pricing strategies. (AACSB: Communication)
Name and describe the four types of markets recognized by economists and discuss the pricing challenges posed by each. (AACSB: Communication)
Compare and contrast market-skimming and market-penetration pricing strategies and discuss the conditions under which each is appropriate.(AACSB: Communication; Reflective Thinking)
Name and briefly describe the five product mix pricing decisions. (AACSB: Communication)
Explain how discounts and allowances differ from promotional pricing.(AACSB: Communication; Reflective Thinking)
Compare and contrast the geographic pricing strategies that companies use for customers located in different parts of the country or the world.Which strategy is best?(AACSB: Communication; Reflective
What factors influence the prices a company charges in different countries? (AACSB: Communication)
Why would a company consider increasing its price? What precautions must it take to avoid being perceived as a price gouger?(AACSB: Communication)
Describe the key functions performed by marketing channel members. (AACSB: Communication)
Compare and contrast direct and indirect marketing channels and discuss the types of flows in a distribution channel. (AACSB: Communication)
What is a franchise organization? Discuss the types of franchise organizations and give an example of each. (AACSB: Communication; Reflective Thinking)
Discuss the complexities international marketers face when designing channels in other countries.(AACSB: Communication)
List and briefly describe the major logistics functions. Give an example of a decision a logistics manager would make for each major function.(AACSB: Communication; Reflective Thinking)
Discuss the factors used to classify retail establishments and list the types within each classification. (AACSB: Communication)
List and briefly discuss the trends impacting the future of retailing. (AACSB: Communication)
Suppose you are a manufacturer’s agent for three lines of complementary women’s apparel. Discuss the types of marketing mix decisions you will make.(AACSB: Communication; Reflective Thinking)
Discuss the different organizational approaches for retailers and provide an example of each.(AACSB: Communication; Reflective Thinking)
What is retail convergence? Has it helped or harmed small retailers?(AACSB: Communication; Reflective Thinking)
What policy should Samsung set for selling High Resolution Digital Televisions (HDTVs) and digital cameras to off-price retailers?
Retailers are always searching for new marketing strategies to attract and retain customers. Using a top department store as an example, list and briefly describe the strategies this department store
Across Asian countries, given the emergence of supermarkets and major discount stores, the traditional markets, e.g. wet markets or food stalls(either on the streets or in government buildings),
List and briefly describe the five major promotion mix tools. (AACSB: Communication)
Define IMC and discuss how marketers implement it. (AACSB: Communication)
Name and briefly describe the nine elements of the communications process. Why do marketers need to understand these elements?(AACSB: Communication; Reflective Thinking)
Name and describe the six buyer-readiness stages.Discuss why it is important for a marketing communicator to know where the target audience stands and to what stage it needs to be moved.(AACSB:
Discuss the factors to consider with regard to message structure when designing a message.(AACSB: Communication)
Compare and contrast personal and non-personal communication channels. (AACSB: Communication)
Why is it important that the advertising media and creative departments work closely together?(AACSB: Communication)
Name and describe five of the many execution styles advertisers use when developing ads. For each execution style, describe a television commercial using that style.(AACSB: Communication; Reflective
How should a company measure the effectiveness of its advertising? (AACSB: Communication)
What are the role and functions of public relations within an organization? (AACSB: Communication)
Discuss the tools used by public relations professionals. (AACSB: Communication)
Discuss the role of personal selling in the promotion mix. In what situations is it more effective than advertising?(AACSB: Communication; Reflective Thinking)
Compare and contrast the three sales force structures outlined in the chapter. Which structure is most effective?(AACSB: Communication; Reflective Thinking)
What role does an inside sales force play in an organization? (AACSB: Communication)
Define sales promotion and discuss its objectives.(AACSB: Communication)
Name and describe the types of consumer promotions.(AACSB: Communication; Reflective Thinking)
Name and describe the types of trade sales promotions. (AACSB: Communication)

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