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principles of marketing

Questions and Answers of Principles Of Marketing

❷ Choose one product category (such as chocolate chip cookies), and then identify at least the brands in that category, including national brands and private-label brands. For each brand, compare
❸ Search online to find five examples of service-provider attempts to reduce service intangibility. Present one of your examples to the rest of the class and justify your views. (Learning Objective
Learning Objective 1 Explain how companies find and develop new-product ideas.New-product development strategy p. 232
Learning Objective 2 List and define the steps in the new-product development process, and describe the main considerations in managing this process.The new-product development process pp. 232–39
Learning Objective 3 Describe the stages of the product life cycle and how marketing strategies change during the product life cycle.Product life-cycle strategies pp. 241–47
Learning Objective 4 Discuss socially responsible product decisions, and international product and services marketing.Additional product and service considerations pp. 247–50
❶ Crowdsourcing seems great but what about confidentiality? Crowdsourcing innovation is risky business; ideas can fall into competitors’ hands and, even with non-disclosure agreements, businesses
❷ Innovation – ahead of its time? Innovation involves new ideas, concepts and products whose benefits are not initially apparent to customers –the first computer and the first microwave oven
❸ The product life cycle is a good conceptual tool but is not useful in practice.Studies show that most marketers have heard of the product life-cycle concept but do not use it. Why do you think
❹ Decline or possible decline stage? When marketers discuss the notion of a product life cycle, they often speak as if the decline stage is inevitable.Is such a perspective a self-fulfilling
❺ Is it really ‘new and improved’? Does it matter? A washing-powder manufacturer finds through research that, by adding ‘blue beads of brightness’ to its hitherto white washing powder, it
❶ It appears that the sky is the limit regarding ideas for smartphone/tablet apps. In a small group, create an idea for a new app. Develop a marketingstrategy statement and describe how you would
❷ Choose an example of a company that launched a new consumer product within the past five years. Develop a presentation showing how the company implemented the 4Ps in launching the product and
❸ Visit the Accelerating Commercialisation Australia website () to learn about this government program. Review the funding and resources available to support businesses. How would these programs
Learning Objective 1 Identify the three main pricing strategies, and discuss the importance of understanding customer-value perceptions, company costs and competitor strategies when setting
Learning Objective 2 Identify and define the other important external and internal factors affecting a firm’s pricing decisions.Other internal and external considerations affecting price decisions
Learning Objective 3 Describe the main strategies for pricing new products.New-product pricing strategies pp. 268–69
Learning Objective 4 Explain how companies determine a set of prices that maximises the profits from the total product mix.Product-mix pricing strategies pp. 270–71
Learning Objective 5 Discuss how companies adjust their prices to take into account different types of customers and situations.Price-adjustment strategies pp. 271–79
Learning Objective 6 Discuss the key issues related to initiating and responding to price changes.Price changes pp. 279–82 Public policy and pricing pp. 282–84 Price should be what you can get in
❷ Pricing is done by the finance people, and marketing’s role is to help them get the numbers – or is it the reverse? In many companies, finance and marketing people work together to set prices
❸ In mature markets, competitors drive prices; to compete effectively, a company must match its competitors’ prices. As products reach maturity in their life cycle, they become like commodities
❹ Some things go together – an airline seat and space for your suitcase; an e-book reader and e-books – so how do companies price each part of their product offering? Deciding on the prices for
❺ A retailer may display a product for an odd price, such as $4.99. Certainly,$4.99 is perceived to be under $5, even though we know that no change is given when $5 is paid. Why are such odd prices
❻ How can a retailer be sure they do not break the law if they check out the competition when they set their prices? Sometimes, companies set their prices based on their competitors’ strategies
❶ 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 athletic shoes. Are there differences of
❷ Source estimates of price elasticity for a variety of consumer goods and services. Explain what price elasticities of 0.5 and 2.4 mean. Note: These are absolute values, as price elasticity is
❸ In a small group, determine the costs associated with offering an online MBA degree in addition to a traditional MBA degree at a university. Which costs are fixed and which are variable?
Learning Objective 1 Describe the nature of supply chain management and how marketing channels add value.Supply chains and the value delivery network pp. 292–300
Learning Objective 2 Describe the nature of marketing channels and how they organise to create value.The nature of marketing channels and value creation pp. 300–4 Channel behaviour and organisation
Learning Objective 3 Discuss retailing, retailers’ marketing decisions and the different ways of classifying stores, and describe retailing trends and developments.Retailing pp. 314–27
Learning Objective 4 Compare and contrast the different types of wholesalers and their marketing decisions, and discuss wholesaling trends.Wholesaling pp. 327–32
❶ Trade-offs. Business managers seek to exceed customer service expectations at a price that ensures profits and a positive cashflow. Thinking about this statement and Figure 10.5, might it be more
❷ Customer service. Consider Figure 10.5 further, and how it suggests the importance of customer service. Does this notion of delivering customer service apply only to goods, or does it also apply
❸ Cooperation and competition in marketing channels. In many cases, businesses cooperate with each other rather than compete. For example, some companies join forces with competitors or
❹ Wholesaler value-adding. Consider the functions wholesalers perform.Do wholesalers really add value, or might they have reached a stage where they face disintermediation? Justify your answer, and
❺ Private labels. Retailers in Australia have had a love–hate relationship with private labels, it seems. Consider the use of private labels by department stores and supermarkets. Do they appear
❻ People, processes and physical evidence. Taking each of these marketing mix elements in turn, how important is each in retailing? Provide examples wherever possible. (Learning Objective 3)
❶ In a small group, debate whether or not the internet might result in disintermediation of the following types of retail stores: (1) video rental stores, (2) music stores, (3) grocery stores, (4)
❷ Let us take the situation where you have been asked to explain to your colleagues in the marketing department of a retailer where you are employed how the use of RFID tags might benefit the
❸ Shop for a product of your choice on Amazon.com. Do the consumer reviews influence your perception of a product or brand offered? Many of the product reviews on Amazon.com are submitted by
Learning Objective 1 Define the five promotion mix tools for communicating customer value.The promotion mix p. 342
Learning Objective 2 Discuss the changing communications landscape and the need for integrated marketing communications.Integrated marketing communications pp. 342–47 Shaping the overall promotion
Learning Objective 3 Describe and discuss the main decisions involved in developing an advertising program.Advertising pp. 350–66
Learning Objective 4 Explain how companies use public relations to communicate with their publics.Public relations pp. 366–68
❶ Marketing communications extends beyond the specific promotional tools.We have discussed at length the importance of aligning the marketing mix so that the customer communication is consistent.
❷ Is the notion of integrated marketing communication simply a flight of fancy, or do advertisers really carry their creative themes through into each of the media they use in any particular
❸ Is long-term (i.e. longer than 10 weeks) brand building the only reason to advertise? You will find those who argue that mass media advertising is the direct impetus to sales, even short-term
❹ Might media scheduling vary by product category and brand? An interesting perspective on this question is provided by one study which showed that 90 per cent of respondent product managers had
❺ Advertising impacts a company’s annual sales, so what happens when advertising budgets are set based on sales forecasts? It is marketing heresy to suggest anything other than that marketing
❻ Is there ever a positive reason to employ public relations? Public relations is something a company turns to when one of its ships has spewed oil into a penguin rookery, or when a social
❶ The manager of a small manufacturing concern is considering incorporating socially responsible marketing messages in the company’s advertising, and is seeking your marketing advice. Some
❷ Marketers use Q Scores to determine a celebrity’s appeal to their target audience. Research Q Scores and write a report on a specific celebrity’s Q Score for the past several years. If the
❸ In a small group, discuss the major public relations tools and develop three public relations items for each of the following: (a) your university, (b) a frozen yogurt store, (c) a dentist, (d) a
Learning Objective 1 Discuss the role of a company’s salespeople in creating value for customers and building customer relationships.Personal selling pp. 376–78
Learning Objective 2 Identify and explain the six main salesforce management steps.Managing the salesforce pp. 378–87
Learning Objective 3 Discuss the personal selling process, distinguishing between transaction-oriented marketing and relationship marketing.The personal selling process pp. 387–92
Learning Objective 4 Explain how sales promotion campaigns are developed and implemented.Sales promotion pp. 392–98
❶ Sales and marketing – as different as chalk and cheese? If you listen to salespeople, you will sometimes hear them talk disparagingly about the marketing function: ‘The reason we didn’t
❷ Team selling – or is it a case of how many salespeople does it take to change a light bulb? Some companies have a large range of complex products. Pharmaceutical companies fall into this
❸ Money makes the world go around – and it takes only bonuses to get salespeople to perform! Many companies set sales targets and give bonuses in cash and other forms to salespeople who meet or
❹ The personal selling process and ways of managing customer relationships have changed irrevocably in the last decade – or have they? There is no question that digital technologies have
❺ Sales promotions – if they are so effective, why do many sales teams and retailers dislike them? Sales promotions enable a brand to present a value proposition, such as ‘more for the same’
❶ There are considerable free sales-training resources available on the internet.Search ‘free sales training’ to find some of these resources and review them.Do the resources discuss the traits
❷ Select a product or service and role-play a sales call – from the approach to the close – with another student. Have one member of the team act as the salesperson, with the other member
❸ In a small group, design a sales promotion campaign using online, social media and mobile marketing for a small business or organisation in your community. Develop a presentation to pitch your
Learning Objective 1 Define direct and digital marketing, and discuss its benefits for consumers and marketing organisations.The direct and digital marketing model pp. 406–8 Benefits of direct and
Learning Objective 2 Examine and discuss direct and digital marketing, interactivity and fulfilment.Direct marketing pp. 409–10 Digital marketing pp. 411–18 Social media marketing pp. 418–19
Learning Objective 3 Explain how companies use customer databases in direct and digital marketing.Customer database use in direct and digital marketing pp. 422–26
Learning Objective 4 Describe how marketing organisations evaluate direct and digital database marketing.Evaluating direct and digital marketing results pp. 426–30
Learning Objective 5 Gain an overview of the public policy and ethical issues presented by direct and digital marketing.Public policy issues in direct and digital marketing pp. 430–32
❶ Direct and digital marketing adoption in Australia and New Zealand. Have Australasian retailers been slower than their overseas counterparts to adopt and use the internet and web to their full
❷ ‘If all companies use direct and digital marketing databases, there is no need for traditional marketing research!’ This statement was made by a postgraduate marketing student attending an
❸ Evaluating website performance. It seems that many digital marketing organisations use ‘hits’ as a measure when evaluating their website performance. Three groups of measures are mentioned in
❹ Adding value through customer interaction. Do you agree or disagree that Australasian marketing organisations seem to be less willing than their overseas counterparts to interact with customers
❺ Online purchasing resistance? North Americans and many Asians – South Koreans, for example – conduct transactions online more frequently than do Australians and New Zealanders. Google the
❻ Search engine marketing and search engine optimisation. Reflect on Marketing in action 13.1. Not all marketing organisations use Google Adword and Adsense campaigns. Oddly, they also ignore
❶ In a small group, design and deliver a direct-response television commercial for a national brand not normally associated with this type of promotion.Use a product of your own choice. (Learning
❷ Review the Australian government’s Web Content Accessibility Guidelines(WCAG), . Write a report explaining why these guidelines are necessary. Are such guidelines used in the commercial sector?
❸ Source news articles about two data-security breaches. How did the breaches occur, and who is potentially affected by them? What effect do such breaches have on consumer attitudes? (Learning
Learning Objective 1 Define sustainable marketing and discuss its importance.Sustainable marketing pp. 442–43
Learning Objective 2 Identify the main social criticisms of marketing.Social criticisms of marketing pp. 443–49
Learning Objective 3 Define consumerism and environmentalism, and explain how these concepts are linked to marketing strategies.Consumer actions to promote sustainable marketing pp. 449–53
Learning Objective 4 Describe the principles of sustainable marketing.Business actions towards sustainable marketing pp. 453–57
Learning Objective 5 Explain the role of ethics in marketing.The role of ethics in marketing pp. 457–60 Learning Objective 6 Discuss the need for and value of a legal compliance program in
❶ What is sustainable marketing? Explain how the sustainable marketing concept differs from the marketing concept and the societal marketing concept. (Learning Objectives 1 and 4) (AACSB:
❷ Social criticisms of marketing. Critics have charged that some businesses and marketing contribute to planned obsolescence. What evidence do you see supporting such a criticism? Discuss the bases
❸ Marketing’s impact on other businesses and society. How can marketers respond to the criticism that marketing creates false wants and encourages materialism? (Learning Objectives 1 and 2)
❹ Promoting sustainable marketing. Can an organisation focus on both consumerism and environmentalism at the same time? Explain. (Learning Objectives 3 and 4) (AACSB: Communication; Reflective
❺ Legal compliance. What are the key features of a compliance system? What are the benefits for a marketer of developing and managing such a system?(Learning Objective 6) (AACSB: Communication;
❶ Watch The Story of Stuff video at , or choose one of these videos: The Story of Bottled Water, The Story of Electronics or The Story of Cosmetics. In a small group, critique the message in the
❷ Do a Google search on environment or sustainability awards to learn about the various awards programs recognising environmental consciousness and sustainable practices, including those in
❸ In a small group, discuss each of the morally difficult situations in marketing presented in Table 14.1. What legal and ethical guidance is applicable to each? Make a decision about each
Will Target’s acquisition of Shipt result in growing revenues in the coming years? Explain.? P-968
Regarding the same-day delivery venture, why are Target’s partnerships important?? P-968
Discuss Target’s channel management procedures.? P-968
Is Target a producer, a customer, or an intermediary?How about Shipt? Explain.
As completely as possible, diagram the value delivery network for Target’s grocery business, from raw materials to finished consumer goods.
Determine the brewer’s cost per 14.5-ounce serving(one glass). What price would a brewer sell that glass of beer for to achieve an 80 percent margin based on its selling price at its own taproom or
Calculate the price at which a bar will sell one 14.5-ounce glass of craft beer if the desired 80 percent margin is based on selling price. What is the bar’s dollar markup on a glass of craft beer?

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