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principles of marketing

Questions and Answers of Principles Of Marketing

Name and describe the major forms of direct and digital marketing. (AACSB: Communication)
Discuss the benefits of direct and digital marketing to both buyers and sellers. (AACSB: Communication)
Explain the ways in which companies can conduct online marketing. (AACSB: Communication)
Compare and contrast the different forms of online advertising. What factors should a company consider in deciding among these different forms?(AACSB: Communication; Reflective Thinking)
What are the basic Internet security fears of consumers? Are these fears usually justified? Identify five actions a consumer can take to reduce the risk of Internet security problems.(AACSB:
Describe the three basic winning competitive strategies espoused by Michael Porter.
What are the advantages and disadvantages of a market nicher strategy?
Visit the Web site of the Royal Thai Consulate-General in Hong Kong at www.thai-consulate.org.hk. Discuss doing business in Thailand.
The United States restricts trade with North Korea.Visit the U.S. Department of the Treasury Web site at www.ustreas.gov/offices/enforcement/ofac to learn more about economic and trade sanctions.
Visit www.transparency.org and click on “corruption perception index.” What is the most recent Corruption Perceptions Index (CPI) for the following countries:Denmark, Jamaica, Malaysia, Myanmar,
Visit the Central Intelligence Agency’s World Factbook at www.cia.gov/library/publications/theworld-factbook. In a small group, select a country and describe the information provided about that
Discuss the types of harmful impact that marketing practices can have on competition and their associated problems.
Learning Objective 1 Define marketing, and outline the steps in the marketing process.What is marketing? pp. 4–5
Learning Objective 2 Explain the importance of understanding the marketplace and customers, and identify the five core marketplace concepts.Understanding the marketplace and customer needs pp. 5–9
Learning Objective 3 Identify the key elements of a customer-driven marketing strategy, and discuss the marketing management orientations that guide marketing strategy.Designing a customer-driven
Learning Objective 4 Discuss customer relationship management, and identify strategies for creating value for customers and capturing value from customers in return.Engaging customers and managing
Learning Objective 5 Describe the major trends and forces that are changing the marketing landscape in this age of relationships.The changing marketing landscape pp. 21–28 So, what is marketing?
❶ Telling and selling. Is marketing practice little more than ‘telling and selling’, while marketing science is really just a matter of carrying out experiments, tests, surveys and other
❷ Customer satisfaction. If it is true that smart companies aim to completely satisfy customers by promising only what they can deliver, and then delivering more than they promise, does this mean
❸ Market orientation or marketing orientation. At a recent academic conference, a presenter was discussing the literature he had followed in devising his study of the connection between respondent
❹ Globalisation. As a response to globalisation, organisations such as airlines are partnering with foreign organisations, even competitors, to form strategic alliance networks (such as the
❺ Societal marketing concept. If this term means that the organisation should determine the needs, wants and interests of target markets, then surely this is the same thing as the marketing
❻ Change management. A number of enterprises – large (HIH Insurance), medium (One.Tel, Impulse Airlines, Ansett Airlines) and small – have achieved notoriety by their spectacular failures.
❶ Form a small group of three or four fellow students. Discuss a need or want you have that is not adequately satisfied by any offerings currently in the marketplace. Think of a product or service
❷ Consider a product that you use or a retailer where you shop frequently.Estimate how much you are worth to the retailer or manufacturer of the brand you prefer if you remain loyal to that
❶ In a small group, create a presentation about careers in marketing. Search the internet for information regarding the different career options available in marketing, and the skills, education
❶ Marketing planning. When preparing marketing plans, some of the components are considered to be more important than others. Given this, discuss whether there is justification for leaving out some
❷ Market turbulence. Sometimes the marketplace and products change so quickly there is no time to develop marketing plans. Businesses, such as BMW (see Marketing in action 2.1), face such market
❸ Marketing plans and small businesses. Do you agree or disagree with the following statement by a marketing commentator: ‘Most small businesses don’t prepare marketing plans because the
❹ Strategic business unit planning. Many organisations are restructuring as smaller SBUs. Does this action make it any easier to develop marketing plans? Justify your answer. What other reasons (if
❺ Marketing planning process. There is often confusion between the marketing plan and the marketing planning process. Elaborate on each, and discuss why they are important. (Learning Objectives 1,
❻ Business plans versus marketing plans. Is there a difference between a business plan and a marketing plan? Be sure to explain the reasoning behind your answer. (Learning Objectives 1, 2 and 3)
❶ In a small group, give an example of how Red Bull energy-drink makers can grow by applying each of the product/market expansion grid strategies.Be sure to name and describe each strategy and
❷ Marketers are increasingly held accountable for demonstrating the marketing success of their companies. Research the various marketing performance measures, in addition to those described in this
❸ Explain the role of a chief marketing officer (CMO). Learn more about this C-level executive position and source an article that describes the importance of this position, the characteristics of
Learning Objective 1 Describe the environmental forces that affect the company’s ability to serve its customers.T he marketing environment p. 68 T he company’s microenvironment pp. 68–71 T he
Learning Objective 2 Explain how changes in the demographic and economic environments affect marketing decisions.Demographic environment pp. 72–79 Economic environment pp. 79–80
Learning Objective 3 Identify the main trends in the firm’s natural and technological environments.Natural environment pp. 80–82 T echnological environment p. 83
Learning Objective 4 Explain the key changes in the political and cultural environments.Political and social environment pp. 83–87 Cultural environment pp. 87–90
Learning Objective 5 Discuss how companies can react to the marketing environment.R esponding to the marketing environment p. 90
❶ Suppliers, marketing organisations and marketing intermediaries.It is evident that there are suppliers and marketing intermediaries who, together with the marketers they supply and support, must
❷ Changing populations. Given that Australia and New Zealand’s populations are having children later, and are working longer and living longer, how might these changes affect the fortunes of
❸ Households, families and advertising content. There have been major shifts in the composition of households in Australia. For one thing, there are fewer households comprising a male and female
❹ Nature and technology. The natural and technological environments of business present some of the biggest opportunities and challenges for marketers of the future. Resources are constrained; we
❺ Cause-related marketing. Opportunities abound for businesses to connect with their publics and relate to the social and political changes taking place in their communities through cause-related
❶ A small online retailer sells high-quality organic children’s clothing made in New Zealand to customers in Asia. Identify the microenvironments and macroenvironments for this business. What are
❷ In a small group, discuss cultural trends in Australia or New Zealand.Research one of these trends in depth and create an infographic illustrating the trend’s impact on marketing. Present your
❸ The Communications Council provides a list of many of the advertising codes and regulations affecting marketing in Australia and New Zealand.Visit the Communications Council website and browse
Learning Objective 1 Explain the importance of information in gaining insights about the marketplace and customers.Marketing information and customer insights pp. 98–102
Learning Objective 2 Define the marketing information system and discuss its parts.Assessing marketing information needs pp. 102–3 Developing marketing information pp. 103–5
Learning Objective 3 Outline the steps in the marketing research process.Marketing research pp. 105–19
Learning Objective 4 Explain how companies analyse and use marketing information.Analysing and using marketing information pp. 119–21
Learning Objective 5 Discuss the special issues some marketing researchers face, including public policy and ethics issues.Other marketing information considerations pp. 121–24
❶ Marketing analytics. Why are marketing analytics important? Are marketing analytics only applicable in the case of big data or does the term apply to all marketing data? Justify your answer.
❷ Marketing information system. What is a marketing information system?What characteristics should it possess? (Learning Objectives 1, 2 and 3)(AACSB: Communication)
❷ Marketing intelligence. Take the situation where, in an endeavour to conduct marketing intelligence, a company employs a service agency to sort through its competitors’ rubbish after hours. Is
❹ Netnographic research. What might be the advantages and/or disadvantages of netnographic research over traditional survey research? (Learning Objectives 3 and 4) (AACSB: Communication)
❺ The internet in marketing analytics. What impact has the internet had on how marketing analytics are conducted? What advantages does the internet provide over traditional marketing data
❻ International marketing research. Identify and report the similarities and differences when conducting research in another country versus the Australian–New Zealand market. (Learning Objective
❶ In a small group, identify a problem faced by a local business or not-forprofit organisation and propose a research project addressing that problem.Develop a research proposal that implements
❷ Want to earn a little extra cash? Businesses use focus groups and surveys to make better marketing decisions, and they might pay for your participation.Visit and , then review the opportunities
❷ Go to the Strategic Business Insights (SBI) website and take the VALS survey(). What type of research is being conducted – exploratory, descriptive or causal? How can marketers use this
Learning Objective 1 Identify the consumer market and the main factors that influence consumer buyer behaviour.Consumer markets and consumer buyer behaviour pp. 132–45
Learning Objective 2 Identify and discuss the stages in the buyer decision process.The buyer decision process pp. 145–48
Learning Objective 3 Describe the adoption and diffusion process for new products.The buyer decision process for new products pp. 148–50
Learning Objective 4 Define the business market and identify the main factors that influence business buyer behaviour.Business markets and business buyer behaviour pp. 150–56
Learning Objective 5 List and define the steps in the business buying decision process.The business buying process pp. 156–59 E-procurement: Buying on the internet pp. 159–60 Business-to-business
❶ Nature or nurture? Does it matter to marketing scientists and/or marketing practitioners that there is no firm resolution concerning the degree to which human behaviour is determined by internal
❷ Consumer purchasing behaviour – so many influences. Figure 5.2 graphically depicts the many influences on consumer purchasing behaviour. Are some influences more important than others? Might
❸ Are there consumer motives that cannot be expressed, because the consumer cannot admit to them? When consumers buy an oral hygiene product because it removes bad breath, it may be a precautionary
❹ It is great to be the company that is ahead of the game, bringing new goods and services to market and profoundly changing the way that an industry works – but is it a winning strategy? When
❺ The changing role of the buying centre. Using the internet as the basis of procurement means that purchasing agents also become responsible for quality as well as costs. How might this additional
❻ Procurement and the small business. How can a small Australian business employing fewer than five employees become a part of the supply chain of global businesses? Can an online procurement
❼ Vertical integration, outsourcing and the business buying process. Many companies that were formerly vertically integrated, producing their own raw materials or parts, are now using outside
❶ Two households are situated on opposite sides of the same street in your city or town. One male head of household is a self-employed truck driver, while the other is a Malaysian-born university
❷ The buying decision process for consumer and business buyers has many similar elements, but there are also differences between the processes for these two distinctly different types of buyers.
❸ Business buying occurs worldwide, so marketers need to be aware of cultural factors influencing business customers. In a small group, select a country and develop a multimedia presentation on
Learning Objective 1 Define the main steps in designing a customer-driven marketing strategy: market segmentation, targeting, differentiation and positioning.Customer-driven marketing strategy p. 170
Learning Objective 2 List and discuss the main bases for segmenting consumer and business markets.Market segmentation pp. 171–80
Learning Objective 3 Explain how companies identify attractive market segments and choose a market-targeting strategy.Market targeting pp. 180–86
Learning Objective 4 Discuss how companies differentiate and position their products for maximum competitive advantage.Differentiation and positioning pp. 186–92
❶ Market segmentation and market targeting. How does market segmentation differ from market targeting? (Learning Objective 1) (AACSB:Communication; Reflective Thinking)
❷ Marketers do not segment markets … they are already segmented. Do you agree with this statement? Explain your reasoning. (Learning Objective 1)(AACSB: Communication; Reflective Thinking)
❸ Demographic and psychographic segmentation. Compare and contrast demographic segmentation and psychographic segmentation. Which is more useful to marketers? Justify your answer. (Learning
❹ Positioning strategies. Some managers say that positioning is far more important than segmentation or targeting. What is your view of this statement? (Learning Objectives 1, 2, 3 and 4) (AACSB:
❺ Market targeting levels. Name and describe the levels at which market targeting can be carried out. Give an example of a company using each. (Learning Objective 3) (AACSB: Communication;
❺ Target market of one. The argument some put forward is that by using the internet and the web, every customer can be treated as an individual and receive a custom-made product. Do you agree or
❶ Visit a supermarket and examine the brands of breakfast cereal on offer. Using the bases for segmenting consumer markets, identify the segmentation variables a specific brand, such as Uncle
❷ Various companies, such as Toyota, Nissan and BMW, are introducing hybrid technology-powered cars to suit the needs of various target markets.In a small group, identify the various models of
❸ Hydrographics presents an idea for a new business in Australia and New Zealand. First, research hydrographics at . Using the steps described in the chapter, identify relevant target markets, then
Learning Objective 1 Define product and the main classifications of products and services.What is a product? pp. 200–5
Learning Objective 2 Describe the decisions companies make regarding their individual products and services, product lines and product mixes.Product and service decisions pp. 205–13
Learning Objective 3 Identify the four characteristics that affect the marketing of a service and the additional marketing considerations that services require.Services marketing pp. 213–18
Learning Objective 4 Describe the brand strategy companies use to build and manage their brands.Branding strategy: Building strong brands pp. 218–24
❶ Services and experiences. The distinction made between goods, services and experiences is an interesting view of the progression that has occurred over time, as organisations have become more
❷ Relationships with consumers. Evert Gummesson defines relationship marketing as ‘marketing seen as relationships, networks, and interaction’.He cites Grönroos’s definition of marketing
❸ Private labels. For the last decade, the two main supermarket retailers in Australia have been competing aggressively with their range of services, their private-label (store) brands and price.
❹ Service characteristics. This issue makes for interesting class debates.Here, we consider several points that force us to think deeply about the nature of a product. The characteristics of
❺ Brand distinctiveness. Gillette reportedly spent US$160 million on research and development for its Mach3 product, which it advertised onpack and off-pack in Australia and New Zealand as ‘The
❶ Branding is not just for products and services; destinations are getting in on the action, too. In a small group, come up with a brand identity proposal for your town, city or state. Present your

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