Introduction

Question 1

What is global marketing?

Answer 1

Constantly scanning the environment for threats and opportunities
not entering every market

Question 2

Value = ?

Answer 2

Value = Benefits - Perceived costs/prices

Question 3

What is differentiation?

Answer 3

• competitive advantage
• how you set yourself apart from other brands
• only perceived
• building trust > competitive advantage

Question 4

What are the types of global marketing?

Answer 4

• semiglobalization
• localization
• glocalization
• standardization

Question 5

Environmental influence on standardization vs adaptation

Answer 5

for standardization
- economic/political integration
- internet economy
for adaptation
- cross cultural diversity
- tariff/non-tariff barriers

Question 6

What is the first phase of the marketing planning process?

Answer 6

analyzing internal and external environments (customers, company, competitors)

Question 7

What are the characteristics of services?

Answer 7

• intangible
• perishable
• heterogeneity
• inseparability

Question 8

What is servuction?

Answer 8

A model that defines how a service is produced and shows what is the part of the seller and the customer

Question 9

What is service dominant logic?

Answer 9

• broader perspective

- value creation through co-creation process between seller and the customer

Question 10

What are the 3 P’s of service?

Answer 10

People, processes, physical evidence

Question 11

What is the second stage of the marketing planning process?

Answer 11

Marketing strategy planning (segmentation & targeting, differentiation & positioning)

Question 12

What is the third phase of the marketing planning process?

Answer 12

The marketing mix (the 7 p’s)

Question 13

What are the seven p’s of the marketing mix

Answer 13

• product
• price
• place
• promotion
• physical evidence
• people
• process

Question 14

Strategic marketing vs operational marketing

Answer 14

strategic marketing identifies value, operational marketing creates value, and they both deliver value and manage value

Question 15

Identifying value is ___ term

Answer 15

longer term

market studies, segmentation, targeting, positioning

Question 16

Delivering value is ___ term

Answer 16

Short term

distribution, sales force, communication

Question 17

Creating value is ____ term

Answer 17

Medium term

Product, brand, price/cost

Question 18

How do you manage value?

Answer 18

Through organization, information systems, and profitability

Question 19

With the international product offer, from which direction of the product levels go from highest to lowest ability to standardize

Answer 19

Core > Actual > Augmented

Question 20

What are the 3 categories of service

Answer 20

People processing, possession processing, and information-based services (low to high standardization potential in order)

Question 21

Differences in the b2b market as opposed to b2c

Answer 21

• fewer and larger buyers
• relatively inelastic demand
• many participants in the buying process
• professional buyers
• no intermediaries
• technological links

Question 22

Describe the BCG matrix

Answer 22

left is average growth rate, right is relative market share
it is divided into four quadrants from top left to bottom right:
- stars
- ?
- cash cows
- dogs

Question 23

Standard promotion + standard product

Answer 23

Straight extension

Question 24

Standard promotion + adapting product

Answer 24

product adaptation

Question 25

Adapting promotion + standard product

Answer 25

promotion adaptation

Question 26

Adapting promotion + adapting product

Answer 26

Dual adaptation

Question 27

Growth strategies

Existing market + existing product

Answer 27

Growth in existing product markets

Question 28

Growth strategies

Existing market + new product

Answer 28

Product development

Question 29

Growth strategies

New market + existing product

Answer 29

Market development

Question 30

Growth strategies

New market + new product

Answer 30

Diversification

Question 31

What are the three types of product positioning?

Answer 31

• global product positioning
• high tech positioning
• high touch positioning

Question 32

What is high tech positioning?

Answer 32

Used for products which are purchased for concrete product features, for people who already possess or which to acquire technical information

Question 33

What is high touch positioning?

Answer 33

Emphasis lies on the products image

Question 34

What are the three sections of brand management?

Answer 34

• functions of branding
• brand equity’s assets and liabilities
• brand options and branding decisions

Question 35

What are the functions of branding?

Answer 35

To distinguish a companies offering and differentiate themselves, to create identification and awareness, to guarantee a certain level of quality and satisfaction, to help promote the product

Question 36

What is a brand equity’s assets and liabilities

Answer 36

• brand loyalty
• brand awareness
• perceived quality
• brand associations

Question 37

What are branding options and decisions?

Answer 37

private branding, co-branding, or manufacturer’s brand

Question 38

What are the steps involved in celebrity licensing?

Answer 38

• identify rights
• negotiate terms and scope
• determine payment and other terms

Question 39

What are the three dynamics customization of products?

Answer 39

• modularity
• intelligence
• organization