Marketing I

Question 1

Define Marketing

Answer 1

The analysis, planning, organization, execution and control of all internal and external business activities.

Aim: achieving sales by focusing company performance on customer benefit -> consistent customer orientation.

Short: Meeting needs probitably.

Question 2

What is marketing strategy concerned with?

Answer 2

1. Which customer group to target

2. When and How to reach them?

Question 3

What is Operative Marketing concerned with?

Answer 3

involves price, place, product, and promotion activities

Question 4

What is included in a Marketing plan?

Answer 4

All through research:

1. Purpose and Mission
2. Situational analysis
3. Marketing strategies
4. Tactical Programs
5. Budget and implementation

Question 5

Why does one need a Marketing Plan?

Answer 5

1. It helps to justify what has occurred in the past
2. It is critical for explaining where an organization intends to go in the future.
3. It is key to obtain funding to pursue new initiatives

Question 6

What does the “purpose and mission” in the Marketing plan contain?

Answer 6

Purpose:

1. Explanation why this plan was produced
2. Suggestions of what may be done with the plan

Mission:

1. Identifies a stable long-run version of the organization
2. Considers resources and competencies

Question 7

What does the “Situational Analysis” in the Marketing Plan contain?

Answer 7

1. Shows a snapshot of the current situation (market research)
2. Covers current:
   - products
   - target markets
   - distribution networks
   - competitors
   - financial condition
   - external forces (social;demographic,tec;politics,etc.)

Question 8

Which Marketing strategy ideas do you know of?

Answer 8

1. Market growth
2. Market stability
3. Cost control
4. Market Exit

Question 9

What are financial objectives?

Answer 9

They reflect the income statement items and common ratios:

1. Customer Sales (by volume & growth %/ segments)
2. Channel sales (by volume & growth % / channel)
3. Margins
4. Profitability
5. Ratios

Question 10

What Non-financial Objectives are relevant in the Marketing Strategies?

Answer 10

1. Promotional Objectives
   - level of brand awareness
   - product trials
2. Channel Objectives
   - dealers (total number / new ones)
   - order processing + delivery
3. R&D Objectives
   - product development
4. Other Objectives
   - partnerships