Chapter 4

Question 1

What challenges are businesses facing?

Answer 1

• increasingly commoditized
• difficult to fond competitive differentiations
• more price sensitive, cannot perceive the difference between goods
• no customer loyalty
• explosion os media and channels

Question 2

Artemis Pet Food

Answer 2

• natural organic pet food line
• very expensive but successful since it read external signals
• decided to produce in house to maintain value proposition and competitive edge, even though it was more expensive

Question 3

Negative Consequences of not developing a marketing plan

Answer 3

• no clear point of view for what’s next
• business will drift to attractive opportunities with no discipline
• marketing plan provides all functions with context, and an understanding of the firm’s “go-to-market” strategy

Question 4

Xerox

Answer 4

• could not define marketing strategy in terms of core product since it was
  commoditizing
  Phase 1: selling photocopiers
  Phase 2: focused on documents
  Phase 3: helping manage knowledge
• recognized technology made photocopiers unsustainable

Question 5

Marketing Plan Template

Answer 5

1. Executive Summary
2. Table of Contents
3. Market Analysis
4. Competitor Analysis
5. Customer Analysis
6. Key Issues to Consider
7. Objectives to be Achieved
8. Marketing Strategies
9. Marketing Plan Implementation
10. Marketing-Sales Linkage
11. Key Outcomes for the Business
12. Marketing Plan Budget

Question 6

1. Executive Summary

Answer 6

• written last, 1-2 pages

- key issues, strategies and expected outcomes

Question 7

3. Market Analysis

Answer 7

• shows how attractive the market is

- detail macroenvironmental trends (i.e Barbie to brats shift

Question 8

Disney

Answer 8

• analyzing the market and appropriately identifying opportunities in the travel industry
• disney cruise and participatory vacations

Question 9

6. Key Issues Analysis

Answer 9

• OTSW

Question 10

8. Marketing Strategies

Answer 10

• established with price, product, marketing communications and channel distribution
• cross-functional implications

Question 11

13. Marketing Plan Control

Answer 11

• constantly track progress, assess based on objectives and adapt to the market
• marketing plan is living and breathing

Question 12

Greystone Property Management

Answer 12

• developed high-rise buildings

- an opportunity to rejuvenate neighbourhoods was outside marketing plan, but provided new market

Question 13

Common Mistakes in Marketing Plan

Answer 13

1. Forgetting Template is Directional
2. Feeding the Data Monster (insight > data)
3. Not spending enough time on section 6
4. Trying to take on Too Much
5. Forgetting that a Market plan is living and breathing

Question 14

Arbol [PT.4]

Answer 14

• transforming from cost/product focus into customer focus
• Arbol functions lacked the glue that bound them together (marketing plan)
• had a collaborative process to ensure implementation
• pitch market trends to functional heads and identify key issues together and develop functional plans