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4. Marketing managers must accept the responsibility for the consequences of their actions and make every effort to verify that their choices and actions serve the best interest of all related customers, organizations, and societies. False / True ((Note below: Spacing between questions, is only for readability ?NOT an indication of prescribed length for an answer. Take as much space as you need to give a good, professional, and well thought out answer.)) 5. Do marketing strategies have to change over time? Yes/ No / Maybe If so, Why? 6. To capture lifetime value companies can build loyalty by investing greatly in marketing. T / F 7. In your words, what does ?Marketing Ethics? mean to you? 8. What guidelines on marketing ethics would you give your company employees? 9. The 5 Step Marketing Process: ? Understand marketplace/consumers, ? Design customer driven marketing strategy, ? Create marketing program that provides the customer with superior value, ? Build profitable customer relationships, ? the?.. fifth step ? your company reaps the benefits?capture value back from the customer. Define the 5th step ? in your words : 10. Cabela's, the World's Foremost Outfitter of hunting, fishing and outdoor gear, UNENDING PROGRESS AND GROWTH SINCE 1961?. Research Cabela, and then assess/analyze Cabela?s marketing strategy (why has it been so successful over so many years?): 11. Define an ?Integrated Marketing Mix?, and give an example -- present how this company uses it well: 12. From the buyer?s point of view, describe the 4 C?s : the customer solution, cost, convenience & communication. 13. What is the connection between the 4 C?s and the 4 P?s (product, price, place, promotion) ? Why did the marketing world move to the 4 C?s? Give two examples. 14. How does a company?s MICROENVIRONMENT and MACROENVIRONMENT affect their marketing plans? Give several examples. 15. a. Explain SWOT analysis. b. Why would a new clothing company need to do a SWOT analysis for their 2 enlargement plans, in Tashkent? And the other, ?.in Togo? What are the relevant factors involved? c. What might they find out? What concerns for each location, would they tell the Board of Directors? d. What integrated marketing solutions might you offer to minimize risk and improve profits? 16. Technological advances are perhaps the most dramatic forces affecting today?s marketing strategies T / F 17. Cause-related marketing is not used as a form of corporate giving. T / F 18. To develop marketing information, marketers can obtain the needed information from internal data, marketing intelligence, and marketing research. T / F 19. Why is marketing research so important/valuable to a marketing plan, and ultimately to profits? 20. Mail, Telephone, Personal interviews, online, Focus groups are all Contact Methods within a data research/collection plan. T / F 21. What four major psychological factors influence a customer?s buying choices? Which one do you think is most relevant today? And why? 22. List the eight basic stages in the business buying decision process: 1. 2. 3. 4. 5. 6. 7. 8. 23. Briefly describe the 4 major steps in designing a customer-driven marketing strategy: a. Would you add any steps?.... b. If this was 2020, or 2035, what would you add? 24. Why is the packaging and labeling of a product important? What is the connection with branding? 25. Give one examples of a successful branding of a product or service. Explain why you think their brands are creating customer value. 26. Define the three parts of ?Marketing strategy development.? 27. A company?s products are born, grow, mature, and then decline, just as living things do. To remain vital, a company must continually develop new products and manage them effectively through their life cycles. False / True 28. Complete the below list of eight sequential stages of new-product development; and define c, f, and g. a) Idea generation b) Idea screening c) Concept and Development testing d) e) Business Analysis f) Product development g) h) Commercialization 29. Inviting broad communities of people ? friends, colleagues, academics, researcher, or the general public into a new-product innovation process, is called ______________________________. Give an example of a company that has used this process: _________________________. Give an example of a third-party crowd sourcing network__________________________. 30. Discuss the 3 major pricing strategies and how customer perceptions influence company decisions. - Customer value-based pricing, - Cost-based pricing, and -Competition-based pricing 31. Give your own example of a relatively new product where a unique Pricing strategy was used to the $$$ profit advantage to the company : 32. Economic conditions can have major impact on pricing decisions. The recent recession has caused consumers to rethink the price-value equation. Marketers have responded by increasing their emphasis on value-for-the money pricing strategies. True / False 33. Give one example of how the US economy or GLOBAL economy caused or is causing price fluctuation, and/or marketing strategy changes on a Product or Service. Describe what the company did. 34. Market-skimming pricing is set up specifically for old declining products and services. True / False 35. When a firm considers initiating a price change it must consider customers? and competitor?s reactions True / False 36. Briefly, what are the advantages of internet marketing? 37. What are some mistakes made by internet marketers? 38. Give an example of a ?nouveau /new age/high technology? marketing technique or process. 39. As a new company?s marketing manager, why do you care about customer opinions? Habits ? Why and how could this affect the company?s profits ? or survival ? 40. Niche strategy: Are companies that do not chase the market leaders, they target underserved customers and solve their problems. True / False Give example of a company that has a niche strategy for their product. 41. Defensive strategy: Organizations maintain a leadership position by developing brand loyalty, mass distribution, and economies of scale and scope True / False Give example of a company using defensive strategy: 42. Your job as a Marketing Manager would include the below 7 items: Fill in the blanks by giving your own personal assessment of a good priority numbering system, 1# being the highest priority and 7# being the lowest priority in your job as Director of Marketing. a) Gathering information from internal and external sources _____ b) Evaluating company capabilities________ c) Identifying and assessing market opportunities_________ d) Setting the objectives of the marketing strategy_________ e) Formulating action plans_________ f) Implementing the marketing plan_________ g) Monitoring and evaluating execution of the marketing strategy__________ Give comments on why you prioritized # 1 and #2 . 43. Dell is one of Texas?s business success stories. Recently, it was named the winner of ClickZ Connected Marketing Awards in two categories. However, with the recent economy in the US, you have been hired as a consultant to help them out in there international department. After some research on demographics, society, etc. what marketing strategy / mix ideas will you be providing to the CEO of Dell ? a. ?for a Detroit , MI based operations b. ?for a Vietnam based operations 44/ 45. Below are 3 excellent examples of using marketing to increase sales, profits, and exposure. o Susan G. Komen for the Cure's segmentation strategy that pulled in 10.46% more donations per person o Kodak's combination of triggered emails, direct mail and personalized websites that achieved a 23% lead rate for its B2B business o Olympus' innovative sideways-scrolling promotional email that had a 41.2% click-to-open rate Review this website, and tell me why you think it deserves ?high marks?? http://www.convergedirect.com/?ctcampaign=555&ctkwd=Dma%20Awards&ctmatch=b&ctcreative=8230695306&ctadpos=1t1

 

Paper#9047 | Written in 18-Jul-2015

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