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17 Cards in this Set
- Front
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Discuss the differences between the marketing and the production concepts, product and selling concepts. Use a company of your choice to illustrate how these different approaches might influence the ways that it could deal with customers. (100 marks) |
Treat the product, production, selling and marketing concepts as four separate constructs. In other words, explain how each of these four different views of marketing might affect the way a firm deals with its customers. |
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Given the unpredictability of the future, what are the advantages and disadvantages of preparing a marketing plan? Use the product (good or service) that was the focus of your marketing plan earlier in the course to illustrate your argument. (100 marks) |
Advantages would include it outlines predictions, potential problems, solutions to these problems, and expectations of profits. Disadvantages is it takes time, money, it could send you on the wrong track, predictions/expectations could be wrong. |
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Why is it important for a marketer to be able to clearly identify and understand their ‘target market’? (40 marks) |
Requirements for effective market segmentation include, measurable, accessible, substantial, differentiable, and actionable. Its important because that is where current and future profit is. Boys aged 5 - 10 Teenage males aged 13 - 19 Women aged 30 - 50 Men aged 50+ |
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Ecological, social and other macro-level environmental changes have the potential to significantly affect the consumption behaviours of individuals and households. Choose two such changes and discuss their potential impact on the sales of one brand of chocolate bars currently available in NZ supermarkets. (100 marks) |
Cadbury's, obesity and coconut oil vs palm oil. |
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What are the key differences between secondary and primary data in marketing research terms? (40 marks) |
Primary = data you collected yourself, its expensive and includes things like sales numbers etc. can include qualitative. Secondary = data from another source, is either free and bad, or expensive and pretty good but still general. Only normally quantitative. Shoes company will use both data before launch to get an idea of the market, then just primary after to get direct sales feedback. |
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Describe the main stages in the new product development process. (40 marks) |
When to launch? september (exams for students) Where to launch?(same place as red bull) Whom to target? (aged 14 - 30, extreme sports & exams) How to launch the product? (internet and point of sale marketing) |
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List and discuss the characteristics of the market in each stage of the product life cycle. (40 marks) |
Introduction (iphone 6), growth (peanut butter), maturity (macbook), saturation (converse shoes), decline (ipod). |
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How might an understanding of the diffusion of innovations help a marketer to successfully launch a new product (good or service)? Use a new product of your choice to illustrate your answer. (100 marks) |
I have no idea |
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List and define the four characteristics of services and the challenges they present marketers. (40 marks) |
Intangibility (cant be touched), inseparability (production and service are the same), variability (humans muck things up, so services aren't consistant), perishability (you cannot store services). |
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List and define the main benefits of branding for an organisation. (40 marks) |
Brands are a identifier (you know the brand when you see it), differentiator(the brand sets it apart from other similar products), and a gaurantee (consistancy within a brand). |
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A famous business owner once said: “Half the money I spend on marketing is wasted, but I don’t know which half”. Discuss the ways that a marketer of a bank might measure the success of a campaign to attract more students to open an account. What success measures might be used in the short (after 3 months), medium (after 1 year) and longer terms (after 3 years). (100 marks) |
Short: measuring profit Medium: Consumer response Long: market share |
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A company that manufactures bread buns used in a wide variety of fast food outlets, lunch counters, snack bars and coffee shops is attempting to reduce its distribution costs. One alternative is to eliminate the use of middlemen. Evaluate the pros and cons of this alternative. (100marks) |
Pros: More profit, IMC management, direct qualitative and quantitative feedback (primary). Cons: Cost of opening stores, cost of distribution, cost of advertising the new ‘face brand’ that the customers now see, time consuming, basically acts as a NPD in the introductory stage as the brand isn’t known to customers. |
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In order to provide customer value, marketing managers must ensure that they offer their products (goods or services) at the cheapest possible price. Discuss whether you agree or disagree with this statement and explain your reasoning. (100 marks) |
Disagree. The brand (we don't want it to look cheap) the quality (cheap price sometimes means cheap product) |
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All value is co-created. Discuss whether you agree or disagree with this statement and explain your reasoning. (100 marks) |
Value is defined as the price which the customer would be willing to pay for that products solution to their problem. |
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How would you justify the use of social media in a business context? (40 marks) |
The movement would be based on the current situation of global warming and how using our ‘eco-bikes’ you would be saving the world. Tactics could include the self-discrepancy theory, |
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What are the options for operating overseas? (20 marks) What are the risks of entering overseas markets? What are the attractions of entering overseas markets? (40 marks) |
-Franchising, indirect exporting, direct exporting, establishing a sales office, licensing. -Political system differences, legal requirements, cultural norms, economic differences, control over entry and access to markets via Govt (tariffs, import duties) company risks (lack of knowledge). -Create global associations, access low-cost labour/materials, access national incentives, access strategic markets, obtain scale economies. |
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Marketing is often criticised for contributing to materialism, waste, health problems and environmental damage. Discuss whether this criticism is justified. (100 marks) |
-Social marketing- We can do good too! Gerard Hastings “If marketing can get us to buy a Ferrari, then it can teach us to drive it safely too” -We don’t hold a gun to anyones head- Should consumers have greater protection? Probably but at the end of the day marketers only have so much influence. -increasingly marketing is becoming part of the solution here. Ethical practices when marketed well are giving companies a competitive advantage eg the Body Shop. |
