Marketing Strategies (non-4Ps)

Question 1

What is physical evidence? (and give examples)

Answer 1

The equipment and environment used to carry out a service (e.g. signage, tools, furniture)

Question 2

Why is physical evidence a useful marketing strategy?

Answer 2

• It indicates the quality of intangible products
• It improves the experience of the customer

Question 3

What are processes as a marketing strategy? (and give examples)

Answer 3

The steps taken to provide a service (e.g. How does the customer order? How do they pay? How quickly is it provided to them? What do they do while they wait?)

Question 4

Why are processes a useful marketing strategy?

Answer 4

• Increase the speed with which the service is provided
• Improve experience for customers

Question 5

What are people as a marketing strategy?

Answer 5

The sales people

Question 6

Why are people a useful marketing strategy?

Answer 6

• Their service improves the experience of the customer
• Their image contributes to the positioning of the brand

Question 7

What is the case study for people, processes and physical evidence?

Answer 7

Uber - how you order and rate your driver/experience

Question 8

Why are people, processes and physical evidence particularly important for services?

Answer 8

Unlike a good, you can’t see in advance what the quality of the service will be. So the people, processes and physical evidence give an impression of what the quality will be instead

Question 9

What is e-marketing?

Answer 9

Any marketing of a product conducted on the internet

Question 10

What are 5 ways a business can conduct e-marketing?

Answer 10

• Online stores
• Social media
• Online advertisements
• Sponsored influencers
• Blogs and videos

Question 11

What are the benefits of e-marketing?

Answer 11

• Can target one market segment
• Data can be used to quickly evaluate effectiveness
• May be cheaper than traditional advertising
• Can engage with customers for relationship marketing

Question 12

What are the disadvantages of e-marketing?

Answer 12

• Data security risks
• Less control over influencers or people’s interactions with social media posts

Question 13

What is the case study for e-marketing?

Answer 13

H&M - use of influencers and social media

Question 14

What is global branding?

Answer 14

Using the same brand (name, logo, colours) around the world

Question 15

What are the benefits of global branding?

Answer 15

• Customers already know you when you expand into new markets
• Cheaper than designing a different brand for each country

Question 16

What is the disadvantage of global branding?

Answer 16

Brand may not be suited to the specific culture and preferences in each country

Question 17

What is competitive positioning?

Answer 17

How the brand is seen relative to other rivals in that market

Question 18

Why is it important to consider competitive positioning when conducting global marketing?

Answer 18

In different countries you will face different competitors (e.g. in one country you might be one of the only sellers, whereas in another country there might already be a popular brand you’re competing with). So the way you stand out relative to the competition will need to differ in each country.

Question 19

What is customisation in global marketing?

Answer 19

Changing ANY OF THE marketing strategies for different countries (that could be changing the brand, the price, the adverts, or even the product itself)

Question 20

What is standardisation in global marketing?

Answer 20

Keeping your product and marketing strategies the same in all countries

Question 21

What is the benefit of customisation in global marketing?

Answer 21

Appeal to the different cultures and tastes in each country

Question 22

What is the benefit of standardisation in global marketing?

Answer 22

• Cheaper (only need to design the ad / product / brand once, and then use it everywhere)
• Consistent messaging (does not confuse your branding when people see your business in a different country)

Question 23

What is global pricing?

Answer 23

Deciding whether to customise or standardise prices across difference countries

Question 24

What are the global pricing strategies?

Answer 24

• Standardised
• Customised
• Market-customised

Question 25

What is the difference between customised and market-customised global pricing?

Answer 25

Customised pricing is changing the price in different countries because your costs there are different (e.g. prices in China are cheaper because your rent and wages for your shop are cheaper)

Market-customised is changing prices in different countries because of how wealthy and willing to pay they are (e.g. charging more in Australia because Australians are richer)

Question 26

What is the case study of global marketing?

Answer 26

Amazon - global branding, but with customised ads, product range and prices

Question 27

What is the case study for standardised global pricing?

Answer 27

Chanel - counterfeit bags