Types of marketing

Question 1

What is Blue ocean marketing?

Answer 1

New market places others haven’t yet found (Instead of competing you’ve opened up an entirely new market) E.g. Nintendo wii

Question 2

What is red ocean marketing?

Answer 2

Highly competitive market areas you compete in currently so try to find better pricing etc

Question 3

What is market orientation?

Answer 3

A culture which encourages behaviour that creates value for the customer leading to superior performance for the business

Question 4

What are some difficulties in developing a market orientation within in an organisation?

Answer 4

• Leadership – are the business leaders committed to this customer-focused view? • Conflict with other functions – do other departments, especially production, understand the need for a new approach?
• Lack of customer knowledge – does the organisation know how to identify and respond to customer needs and wants?
• Lack of infrastructure – is the organisation set up to adapt to a new way of creating and delivering new offerings?
• Transactional approach to doing business – is the organisation ready to give up a traditional transactional approach to the customer in return for more of a ‘relationship’?

Question 5

What are some irresponsible behaviours in marketing?

Answer 5

• Deceptive pricing
• Encouragement of ‘false wants’
• Obsession with beauty and body image
• Misrepresentation of product/service benefits
• Encouraging spending beyond capability
• Intrusive/pressurised messaging
• Low prices driven by ‘sweat shop’ supply chains

Question 6

What issues would culture effect?

Answer 6

• Corporate vision – short or long-term
• Core and brand values
• Key personalities
• History and tradition
• Sector of operation and product/service types
• Specific language and symbols
• Internal assumptions and beliefs
• Geography in terms of city, region or country
• Attitude to technology

Question 7

What is Hofstede’s cultural dimensions theory?

Answer 7

Helps the market rid itself of cultural prejudices, a framework for cross-cultural communication.
Used to understand the differences in culture across countries. Hofstede’s initial six key dimensions include power distance, uncertainty avoidance, individualism-collectivism, masculinity-femininity, and short vs. long-term orientation.

Question 8

What is Organisational cultural profile?

Answer 8

Looks specifically at values that are reinforced within organisations and uses the variables of Innovation, Stability, Respect for People, Outcome Orientation, Attention to Detail, Team Orientation, and Aggressiveness (O’Reilly, Chatman, and Caldwell, 1991).

Question 9

What is Daniel Denison’s model?

Answer 9

Shows how organisational culture can be mapped using four specific attributes – Mission, Adaptability, Involvement and Consistency (Denison,1990)

Question 10

What is power culture?

Answer 10

Power is concentrated within a small group or in a single person.
Control is managed from the centre and is dispensed outwards like a web.
Power cultures tend not to need too many rules and little bureaucracy which can lead to decisions being made fast but with little wider support.

Question 11

What is role culture?

Answer 11

this is characterised by a highly defined structure where authority is delegated as appropriate. This structure often results in a hierarchical bureaucracy where power is linked to position within the firm rather than to expertise or experience.

Question 12

What is task culture

Answer 12

This is where teams are usually formed to address and solve specific issues. The team owns the power as it is allowed to use its expertise to complete the task often using small teams made up of experts and specialists. These teams and tasks are, by their nature, often short lived and as a result staff reporting lines may generate a matrix structure to maintain continuity across tasks.

Question 13

What is person culture?

Answer 13

This is where individuals believe themselves to be superior to the organisation and where each person is seen to bring different and specific skills to bear. This culture is perceived to be problematic if there are shared and common goals to be achieved.

Question 14

How might an organisational structure be affected

Answer 14

Is this a large, or small, organisation?
• Geography including country
• What role do the stakeholders play?
• Are there shareholders present on a daily basis, on the management team? Do they play a role in the operations of the organisation?
Is the company family run?
• Is there a clear strategy, written down and understood (and supported) by everyone?
• What direction is the organisation going in?

Question 15

What is a functional structure?

Answer 15

in a functional structure, staff are grouped into the types of work they undertake and the sorts of skills they possess either from education or experience. It is common for each area to be headed by an expert in the specific field. The strengths of these structures include fostering, supervising, and efficiently utilising specialised resources.

Question 16

What is a divisional structure?

Answer 16

– in a divisional structure, staff are organised into groups which can be created around a number of focuses including product type, geography, customer types or markets. They are often given more independence from centralised control as they may be involved in new products, markets, or regions where lack of flexibility makes a functional structure too complex and cumbersome. Decisions are usually made faster through divisional structures, and they can design and operate the business in a more localised and efficient way

Question 17

What is a matrix structure?

Answer 17

– the matrix structure combines aspects of both the functional and divisional structures

Question 18

What are some difficulties in developing marketing orientation within an organisation?

Answer 18

Leadership-are the business leaders committed to this customer focused view?
Conflict with other functions-do other departments understand the need for a new approach?
Lack of infrastructure- is the organisation set up to adapt to this?
Lack of customer knowledge
Difficulty giving up traditional way of business

Question 19

What is the production concept?

Answer 19

Consumers will buy products that are widely available and low in cost.
Risk of being too narrowly focused- forgetting customers needs and wants.
Emphasis on volume and meeting production schedules
Assumption that customers’ are only interested in price and availability

Question 20

What is B2C marketing?

Answer 20

Business to consumer marketing
Businesses sell products and services to consumers for household/personal use- food, clothes, cars, homes

Question 21

Characteristics of B2C marketing?

Answer 21

Products driven
Large target market
Need to maximise the value of the transaction
Brand identity is created through repetition and imagery
Single step buying process

Question 22

What are the 4ps B2C marketing is concerned with?

Answer 22

Price
Product
Place - retail outlets
Promotional - demand is stimulated through promotional mix

Question 23

What is B2B marketing?

Answer 23

Marketing of goods and services to companies, gov bodies, institutions, non-profit organisations

Question 24

What are the characteristics of B2B marketing?

Answer 24

Relationship driven
Small, focused target market
Multi-step buying process
Rational buying decision based on business value

Question 25

What is service marketing?

Answer 25

The promotion of economic activities offered by a business to its clients.
Service marketing might include the process of selling telecommunications, health treatments, financial, hospitality, car rental, air travel, and professional service.

Question 26

What is not for profit marketing?

Answer 26

NFP marketing is the application of marketing concepts for a NFP organisation.
This can include- People (politicians), Places (Museums, schools), Ideas (Safe driving), Organisations
Rely on stakeholders to provide finance and support

Question 27

What are the purposes of planning for marketing?

Answer 27

To identity sources of competitive advantage
To decide on priorities for each element of the marketing mix
To provide a programme of events that will focus and coordinate activities.
To match resources and opportunities
To provide a framework for continuous review of the marketing plan activities.

Question 28

What is internal marketing?

Answer 28

Any form of marketing within the organisation which focuses attention on the internal activities that need to be changed in order that marketing plans can be implemented

Question 29

What techniques would you use to ensure employees are passionate about the customer?

Answer 29

The concept of the ‘internal customer’ who should be treated as if they were an external paying customer
• The use of techniques such as briefings, brand guidelines, product launches, etc. to ‘sell’ the message of an organisation to its internal audiences
• The concept of ‘Total Quality Management’ (TQM), which is based on the premise that the quality of products and processes is the responsibility of everyone involved with the creation or consumption of the products or services offered by an organization

Question 30

Internal marketing requires the involvement of management, workforce, suppliers and customers, to meet or exceed customer expectations. How can organisations achieve this?

Answer 30

Activities that improve awareness of customer issues among employees, such as briefings and customer visits
• Development of a marketing orientation for an organisation (everyone’s a customer), even where this may have seemed odd e.g. in the provision of public services such as the NHS and the railways
• Recruitment of customer-conscious employees: recruit for attitude, train for skill

Question 31

What does doyle state internal marketing focuses on?

Answer 31

.Innovation (finding new approaches in products and services to improve efficacy, add features, reduce costs, etc.)
• Effective processes
• Customer support and building networks which ‘design in’ quality

Question 32

How can your company build a persona?

Answer 32

• What is their demographic information?
• Where do they live?
• What industry do they work in?
• What is their job level/seniority?
• What does a day in their life look like?
• What is their digital behaviour? (use of websites, social media, email etc.)
• What are their pains/issues?
• What do they value? What are their goals?
• Where do they seek their information/data?
• What are their most common objections to your product/service

Question 33

Define undifferentiated marketing

Answer 33

(or mass marketing) – this effectively ignores the differences between segments, and markets one product to the whole market. It focuses on common needs and messages. It is most appropriate where organisational resources are large, needs are common, and where differentiation is difficult – for example for raw commodities like tea and sugar. Be aware though that this is becoming rarer – even water can be differentiated by brand!

Question 34

Define differentiated marketing

Answer 34

(or segmented marketing) –a marketing strategy that allows you to target different business market segments with separate offerings.
New products new customers

Question 35

Define concentered marketing

Answer 35

(or niche marketing) – here an organisation decides to focus its efforts on one segment. It is best suited where an organisation’s resources are limited and there is a small but viable segment with particular needs. Done well this allows organisations to develop a greater knowledge and understanding of their customers, tailor offerings to add real value and generate customer satisfaction, refine the focus of their marketing and develop strong relationships and reputations.

Question 36

What is omni channel marketing?

Answer 36

➢Engaging with consumers over a range of channels including traditional and online
➢Creating a user experience that spans across physical retail spaces, online spaces, mobile and social media
➢Integration of online and traditional channels, for example ordering by iPad instore (showrooming) or researching on-line and picking up in-store (click and collect)

Question 37

What is Mendelow’s Matrix

Answer 37

Mendelow suggests we analyse our stakeholder groups based on Power (the ability to influence our organisation strategy or project resources) and Interest (how interested they are in the organisation or project succeeding).

Question 38

What are market innovators?

Answer 38

Companies that develop a new product/service, a new technology or find new ways of distribution and promotion of their offers.
It can be the market leader – or not (think Uber/AirBNB) (disruptive strategy/innovation)
Strengths: - First to market/Competitive advantage/ Know how
Weaknesses: - High costs (R&D & promotion of the innovation

Question 39

What are market followers?

Answer 39

a company that is not the leading company in a particular market but that chooses to keep its position rather than competing in a forceful way to increase its share of the market

Question 40

What is social marketing?

Answer 40

The term public health professionals use to refer to marketing that builds awareness about a social issue, like wear your seatbelt, don’t smoke, recycle. Working to change people’s attitude and behaviour

Question 41

What is Market Share?

Answer 41

Market share is the percentage of the overall market that an organisation or brand has. EG, Heinz Baked Beans has 70% market share of the tinned beans market.