test Flashcards
(33 cards)
What does ‘marketing myopia’ describe?
b. Companies that only focus on existing wants and lose sight of underlying customer needs.
Sapph lingerie is a Dutch brand that is known for its aggressive marketing
approach. When the brand launched its first collection, it bought all empty
advertisement shelters throughout The Netherlands in order to reach a broad
audience. What type of concept does Sapph uses to carry out its marketing
strategy?
the selling concept
Imagine that Coca Cola would bring out a new flavor on the market, called
‘Diet Coke Raspberry’. This product contains diet coke, but with a new added
raspberry flavor. This product would be an example of…
c. product development.
Marketing intermediaries are part of a company’s micro environment. An
example of such an intermediary is…
d. a retailer.
Due to Brexit, the pound has fallen about 10% since the 23 June 2016
referendum. For UK’s online fashion retailer ‘ASOS’, the pound’s fall has been
good because it gives overseas customers more buying power. ASOS covers
most countries in the world and has expanded by launching websites targeted
at the US, Germany and other markets. When looking at ASOS’ SWOT
analysis, the Brexit happening is part of…
b. opportunities
More than ever, today’s marketers are being held accountable for linking their
strategies and tactics to measurable marketing performance outcomes. One
important performance measure is calculating the net return from a marketing
investment divided by the costs of the marketing investment. How is this
called?
b. Marketing ROI
There is a trend that people use products as a means of self-expression, and
they buy products and services that match their views of themselves. This can
affect marketing decision making. Within the macro environment, this
characteristic is part of…
d. the cultural environment.
Following Kumar et al. (2011), market orientation should have a more
pronounced effect on a firm’s profit than sales …
c. because a market orientation focuses efforts on customer retention
rather than on acquisition.
Which of the following definitions describes the general process of perception?
four steps in designing a customer driven market strategy
a. Segmentation, targeting, differentiation, positioning
The Innocent brand has added a new range of fruit and veg cold press juices
to its portfolio. According to Helen Pomphrey, the brand’s UK head of
marketing, it was a deliberate move to “launch products that really stretched
the spectrum of health and wellness”. When considering the ‘product/market
expansion grid’, how do we call this addition? Motivate your answer. (4
credits)
this is known as a market development, as they already have a market for juices but are introducing a new version of cold pressed juices
in response to ‘people’s changing habits’, the Innocent brand launched a variety of fruit and vegetable juices. What trend do they mean? Under which
part of the macro environmental factors does this belongs? Motivate your
answer
this belongs to the cultural/societal macroenvironmental factor as it is trying to appeal to the health conscious consumer
Innocent fits the societal marketing concept. Explain why, and also explain
the difference with the marketing concept.
the societal market concept considers consumers needs as well as the companies requirements and consumers and societies long-run interests. It differs from the marketing concept as the marketing concept believes that profit is derived from consumer satisfaction and providing a superior competitive advantage
Innocent Smoothies seeks for new brand ambassadors among students of
21 universities. To which group from Innocent’s micro environment would a
brand ambassador be part of? Motivate your answer.
a. According to the article, skinny jeans were the last big fashion trend. Explain the adoption process of new products and apply it to skinny jeans; mention
each of the five stages and describe what happens in each stage.
Awareness - viewing the store window front and seeing the sign for the skinny jeans or seeing an ad on a newspaper promoting them or an influencer
Interest - the customer is seeking out information eg. looking at reviews of the jeans
Evaluate Alternatives - viewing other stores or different styles of jeans
Trial - experimenting or testing the product for a short period, this could be trying on the skinny jeans in the dressing room
Adoption - makes full or regular use of the skinny jeans buying multiple pairs in different colors
. Influentials in the fashion industry often drive new fashion trends through
word-of-mouth influence and/or buzz marketing. First explain what both of
these concepts entail.
word of mouth influence: your trusted close friends or family recommending the trend to you
buzz marketing: enlisting opinion leaders known as “brand ambassadors” who spread buzz and hype about the company’s product
Next, explain how buzz marketing differs from most
other word-of-mouth influence.
. Explain the concept of cross-cultural marketing and provide two examples of
how clothing brands could apply this form of marketing.
Mention three basic human needs from Maslow’s hierarchy of needs that can
be met or fulfilled with the help of (specific types of) clothing. Motivate how or which clothing can fulfill each need. (
Self esteem needs: owning an expensive high fashion label of clothing may bolster someones sense of self esteem if they’re very materialistic and shallow.
Physiological: owning insulating and warm garments in the winter to not get hypothermia
Social: wearing a traditional dress in national holidays creates a sense of belonging
Imagine that BAM, a large construction company, provides all its workers
with safety clothing instead of leaving this up to the individual worker. Explain
how the business market for safety clothing differs from the consumer market
in terms of I) the market structure and II) the decision process. (
. Imagine that BAM, a large construction company, provides all its workers
with safety clothing instead of leaving this up to the individual worker. Explain
how the business market for safety clothing differs from the consumer market
in terms of I) the market structure and II) the decision proces
the business market differs in structure as it has fewer but larger buyers.
the decision process is more complex lengthy and formalized than the consumer process, the buyer and seller are dependant on each other.
Companies might specify specific safety needs (kneepads, steel toes in
shoes) to suppliers and call for detailed specifications and proposals before selecting a
supplier.
To be successful in the bike market companies should define market
segments. Which major segmentation variables are mentioned in Kotler &
Armstrong (2016). Mention these segmentation variables and apply them to
the bike market and define a market segment for e-bikes
b. Kotler and Armstrong (2016) distinguish between various factors that may
influence consumer behavior. Give two examples of psychological factors that
may influence the behavior of consumers looking to buy a E-bike.
This is concentrated marketing because the whole market consists of many more
segments and this manufacturer only targets the e-bike segment
d. Consider the manufacturer ‘Your customized E-Bike’. This manufacturer
delivers superior customer value through a customer intimacy strategy (Treacy
& Wiersema). Come up with three characteristics of a company that executes
a customer intimacy strategy.
- Precisely segmenting markets
- Tailoring/customizing product/services
- Close relationships with customers
