Marketing 1

Question 1

Marketing fundamentals

Answer 1

-Focus in customer,
-only compete in markets were we can get comp. Advantage,
-customer buy what product can do for them,
-marketing should concern while Orga,
-markets are heterogeneous,
-markets and customer are changing

Question 2

Integrated marketing mix

Answer 2

Product (innovation, packaging)
Price
Place (distribution, logistic)
Promoting (advertising, sales promotion)

Question 3

Marketing approach

Answer 3

Push marketing (develope and push into market) customer led marketing (customer needs we develop), resource based marketing (listen to market)

Question 4

Kani Model

Answer 4

Two axes
Didn’t to it at all to did it well
Total satisfaction to total dissatisfaction

Expected needs (must) normal needs (should) exiting needs (can)

Question 5

Factors influencing buying behaviour

Answer 5

Cultural factors, social factors, psychological factors (masked hierarchy of needs physiological, safety, social, esteem, self actualisation

Question 6

Brand related buyer groups

Answer 6

Brand loyales
Favourable brand switchers
Other brand switches
Other brand loyale
New category users

Question 7

Strategic focus

Answer 7

Increase sales (expand market, increase share)

Improve productivity (increase margins, reduce cost)

Question 8

Customer driven marketing strategy

Answer 8

Select customers to serve (segmentation and targeting) and decide on value proposition (differentiation and positioning)

Question 9

Markt segmentation

Answer 9

Demographic, psychographic, behavioural

Question 10

Positioning

Answer 10

Define value model, build customer value hierarchy, decide in customer value package

T-c-b macro positioning: target customer (who is it for), product category (what is ut), key benefit (what does it offer)

I-d-u positioning: importance, delivery, uniqueness

Question 11

Price discounts

Answer 11

Channel discount ( distribute gets discount in exchange for function)

Strategic discount (to win customer)

Question 12

Pricing objective

Answer 12

Survival
Market growth
Product quality
Sustainability

Question 13

Pricing methods

Answer 13

Cost oriented (markup, Roi)
Competition oriented (auction type pricing with demand)
Market oriented (determined after value perception of customer)

E.g. skimming (high prices in beginning then lower to attract)
Price differentiation (separate segments)

Question 14

Product life cycle

Answer 14

Introduction
Growth
Maturity
Decline

Question 15

Types or customers

Answer 15

Innovators
Early adopters
Middle mate majority
Laggards

Question 16

Innovation types

Answer 16

Incremental innovation (higher value/ lower price)
Sustaining innovation (improve)
Distruptive (new product)
Radical innovation (technological breakthrough