Marketing Management

Question 1

How do you stimulate intensive growth

Answer 1

Concentrate activists on familiar products and markets, simply do what you’re doing but more

Question 2

How is integrative growth achived

Answer 2

To start doing activities others have done on the same value chain. Linear integration I think I’ve heard before

Question 3

How is growth through diversification achieved

Answer 3

Develop and market new products and services

Question 4

Describe a genuine bottom of the pyramid marketing strategy

Answer 4

Directed at verry poor people so both affordable and available. They are adaptive and try to educate consumers in their consumer orientation. Try to be fair and inclusive

Question 5

What is market penetration

Answer 5

Trying to gain more market share with present products in present markets

Question 6

What is market development

Answer 6

Introduce present products to new markets

Question 7

What is product development

Answer 7

Introduce new products in present markets

Question 8

What is competitive advantage

Answer 8

To implement a value adding strategy not implemented by the competition

Question 9

Name some sources if competative advantage

Answer 9

Better publicity, features or quality

Question 10

Does the cost leadership strategy have lower price than the competition

Answer 10

Often but not necessarily, the important part is having lower costs for greater profit margins

Question 11

Can you pursue both differentiation and cost benefit at the same time

Answer 11

Not in theory but in practice it is quite common not to be stuck un the middle

Question 12

What are the different market positions

Answer 12

Leader, challenger, follower and nicher

Question 13

What characteristics do market leaders have

Answer 13

They have the largest share and sets standards and expectations

Question 14

What are the characteristics if market challangers

Answer 14

They are near the top of market share and aggressively try to take the lead

Question 15

What are the characteristics of market followers

Answer 15

They dint possess the resources to compete and have a small market share. They often try to copy the market leaders

Question 16

What characterizes market nitchers

Answer 16

They are specialists and try to cater to specific segments of the market

Question 17

What are the strategies if market leaders

Answer 17

Attacking the market by creating new users and situations if use. They may also defend the market position by increasing promotion and cutting prices

Question 18

What are the prime strategies if market challangers

Answer 18

Attacking the market leader by cutting costs, innovating and sharply increasing advertisement. They may also attack rivals through limited offerings and developing competitive advantages

Question 19

What are the prime strategies of market followers

Answer 19

To copy the leaders but focus on differentiation. Avoid hostile conquest if market share

Question 20

What is the prime strategy of market nichers

Answer 20

Provide special offering to a customer group/geography. Put all resources on serving the niche

Question 21

What is relationship marketing

Answer 21

Gaining a competitive advantage by creating powerful alliances with suppliers and potential rivals to share resources streamline integration and gain better deals

Question 22

What are platform strategies

Answer 22

To use your product to connect other companies and consumers like apples app-store and uber and its drivers

Question 23

What organization culture aspects may be good for market adaptability and stratgies

Answer 23

Employee autonomy, retrospect on resort as a reward and internal competition

Question 24

Why is it a bad idea to use sales as a key performance indicator

Answer 24

Because it rewards selling much at unprofitable rates

Question 25

How co you calculate market share

Answer 25

You divide the sales revenue by the total sales revenue in the market

Question 26

How do you calculate relative market share

Answer 26

You divide your market share with that if the market leader

Question 27

What is the net promoter score

Answer 27

A score measuring the radio of promoters ranking the product 9-10 to detractors ranking the product 0-6. Promoters are likely to spread the word while detractors are extremely unlikely to do so

Question 28

Name some key performance indicators to measure the success of marketing

Answer 28

Profitability, sales, operating margin, customer awareness, market share, amount of new products, price premium, satisfaction, net promoter score and, distribution

Question 29

When should marketing be planned

Answer 29

Always and continually not only ones a year or when products are launched

Question 30

What should be in a marketing plan

Answer 30

Objectives, background, market analysis, programs (people and resources), plan and evaluation

Question 31

What characterizes good goals

Answer 31

They are realistic, measurable and communicable

Question 32

Explain the innovation strategy

Answer 32

Don’t compete, create new markets

Question 33

Explain a growth strategy

Answer 33

Put all your resources into rapid expansion

Question 34

Explain an alliance strategy

Answer 34

Focus on relationships mergers and acquisitions, take advantage of others comparatives advantage

Question 35

Name five business strategies

Answer 35

Cost leadership, differentiation, growth, alliance, innovation

Question 36

What challenges are there to implementing marketing strategies

Answer 36

What is the roll of marketers, do they have direct control do the employees know how their actions affect the market position and what is in line with the strategy. People may feel threatened, uncertain and overwhelmed when asked to give up power.

Question 37

What is a solution to strategic cohesion in an organization

Answer 37

Internal marketing, make value propositions to the members if the benefits ti gain by following the strategy