2.1. Planning IMC Strategy

Question 1

Marketing Management Process

Answer 1

Situation analysis => marketing goals => Market Segmentation, Target Market Selection and Product Positioning =>Marketing Mix

Question 2

Marketing Management Process - Situational analysis

Answer 2

Macro Environment
3C (customer, competitor, corporation)
SWOT

Question 3

Market Segmentation

Answer 3

Dividing market into distinct groups with distinct needs, characteristics or behavior, who might require separate products or marketing mixes

Question 4

Bases for Segmentation

Answer 4

• Geographic
• Demographic
• Psychographic
• Behavioral

Question 5

for each target segment, decide/know…

Answer 5

• the problem
• the objective
• the strategy

Question 6

Guidelines for selecting target market

Answer 6

• compatibility with corporate goals and image
• company resources (market opportunity must match companies resources)
• profitability prospects (look at such things as size and growth of the market)
• number and size of competitors (should not enter market already saturated with competition)

Question 7

undifferentiated marketing

Answer 7

no segmentation

Question 8

differentiated marketing

Answer 8

different strategies for each segment

Question 9

concentrated marketing

Answer 9

focusing on one segment

Question 10

micromarketing

Answer 10

customized marketing for each individual

Question 11

undifferentiated marketing - advantages

Answer 11

low production and marketing cost

Question 12

undifferentiated marketing - disadvantages

Answer 12

• products with to comp adv
• vulnerable to competition

Question 13

differentiated marketing - advantages

Answer 13

• high potential profit
• market share

Question 14

differentiated marketing - disadvantages

Answer 14

• high cost
• cannibalization

Question 15

concentrated marketing - advantages

Answer 15

• concentrated resources
• suitable for smaller firms positioning

Question 16

concentrated marketing - disadvantages

Answer 16

• too narrow brand image
• vulnerable to changes in consumers taste and potential competition

Question 17

Micromarketing - advantages

Answer 17

• high consumer satisfaction
• relationship building

Question 18

Micromarketing - disadvantages

Answer 18

• cost
• technology

Question 19

Positioning

Answer 19

The place the product occupies in consumers’ minds relative to competing products
- involves implanting the brands unique benefits and differentiation in the customers mind
- maps that plot perceptions of brands are commonly used

Question 20

Positioning strategies

Answer 20

• price/ quality
• attributes/ benefits
• images
• users
• usage situation
• competitors

Question 21

Positioning through communication

Answer 21

• modify perceptions about features of the brand
• modify perceptions about features of the competing brands
• modify perceptions of the importance of specific issues
• call buyers’ attention to neglected features