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business
principles of marketing
Questions and Answers of
Principles Of Marketing
What is the new product development process?
What are the tenets of the design-to-value approach to innovation?
What is meant by the term agile innovation?
What are the stages in the diffusion-of-innovations process? What factors influence the rate of adoption of new products?
How does the product life cycle influence marketing strategy decisions?
What are the stages in the product life cycle?
What is the hype cycle?
What is meant by customer value-based pricing? How is it different from value pricing?
What is cost-based pricing?
Why is price elasticity of demand an important consideration when using cost-based pricing?
What pricing objectives might marketers choose?
What situations favor the use of competitive-based pricing?
How does psychology influence the way people respond to prices?
How is technology changing the work of pricing strategists?
What is a channel of distribution? What is its relationship to supply chain management?
Why is place important in the marketing mix?
Why do channel partners work together? What functions do different channel partners provide?
What is the difference between a direct channel and an indirect one?
Why would a brand select different levels of distribution intensity?
What are the drivers of omnichannel distribution?
How are digital technologies solving challenges that existed in traditional channels of distribution?
What are the four components of the PESO model?
What are the modes of communications available for IMC campaigns?
What is advertising and what forms of digital advertising are available?
Why is branded content valuable?
What is public relations, what objectives can it meet, and what are the primary approaches?
How are brands using events and experiences to meet communications objectives?
How do sales promotions influence buyer behavior and what sales promotion devices can be used?
What are the steps in the campaign planning process?
Why does service dominant logic say all exchanges are service exchanges?
Why do services require additional elements in the marketing mix?
What is the role of people in the marketing mix?
How does process affect the customer experience in a service exchange?
What are some examples of presence cues? How are presence cues different online or in a physical store?
What are the differences between customer journey maps, service blueprints, and customer experience maps?
How does branding support marketing strategy?
How do brands work to create brand knowledge and influence purchase decisions?
What are the components that are involved in establishing brand identity?
What are the identity perspectives that categorize the types of brand associations that can be represented in a brand’s identity?
Why are specific attributes and benefits of product offers relevant for brand identity?
What kinds of design elements are included in brand style guides?
What is brand architecture?
How can we distinguish between the meaning of the terms marketing measures, marketing metrics, marketing analytics, and marketing value management systems?
Why are marketers increasingly embracing marketing analytics?
What are the steps in the 6D MVMS Process Model?
How can marketers use a strategy map to tie measures and metrics to their marketing objectives and strategies? What are the perspectives reflected in the strategy map?
How do Industry 4.0 technologies contribute to marketing analytics and value management?
Go to the Cincinnati Zoo’s Instagram or TikTok (@cincinnatizoo) and find posts that feature Fiona the hippo. How does the zoo’s communications team engage with Fiona’s fans? What benefit does
What can other not-for-profit marketers learn from the Cincinnati Zoo’s use of social media to generate interest in Fiona? How does it fit with the Cincinnati Zoo’s overall social media
It is a great temptation for manufacturers to exaggerate the benefits of their products on their packaging. Sometimes, the claims are overstated. Businesses want to make bold claims to help them sell
What does Walt Disney World teach us about the internal culture, people, and processes that must be in place for an organization to create and deliver great customer experiences?More than 58 million
Describe The Walt Disney World experience based on the concepts of needs, wants, and demands, differentiating the three.More than 58 million people flock to The Walt Disney World Resort in Florida
If you bid $1.25 on a keyword related to your product and 14,000 people, click on your PPC, how much will the search engine charge you?The internet has become a vital marketing medium, and pay
PPC can be expensive, so why is it popular as a marketing method?The internet has become a vital marketing medium, and pay per-click (PPC) is one of the many ways for a business to attract traffic.
It is a great temptation for manufacturers to exaggerate the benefits of their products on their packaging. Sometimes, the claims are overstated. Businesses want to make bold claims to help them sell
Some believe that social marketing is primarily effective only for bigger companies with the time and capacity to manage and update their media content. Choose a local business and evaluate its
How do customer expectations influence Disney World’s approach to creating great customer value and experiences? How can Disney manage those customer expectations?More than 58 million people flock
How can The Walt Disney World Resort better meet the challenges it faces in delivering its famous customer experience? Come up with some original and innovative ideas.More than 58 million people
Choose any industry—health care, transportation, education, dining, or any other. Apply the learnings from Walt Disney World to come up with specific, innovative ideas to create fantastic
What key roles does marketing play in a firm’s strategic planning?
Visit www.businessfinancing.co.uk/the-most-popularconsumer-brand-in-every-country/ and choose one of the world maps showing the popularity of brands around the world. Identify the top five and the
What is marketing return on investment (marketing ROI), and by what metrics can it be measured?
Examine the integrated marketing mix of the Japanese clothing brand UNIQLO. What are their key marketing mix ingredients? What about their brand, service, and IMC?
What is the rationale behind Lush’s decision to discontinue and then reintroduce a curated assortment of social media channels? Do you think followers and customers understood Lush’s choice? Why
Locate the mission statements for the following organizations: (a) Samsung, (b) Mobile Telecommunications Network (MTN), (c) United Nations Children’s Fund (UNICEF), (d) IKEA. Evaluate each
From an ethics standpoint, discuss Humanrace’s focus on sourcing high-quality, vegan ingredients, and postrecycled, reusable packaging instead of developing products that keep costs down. Discuss
Calculate profit margin, net marketing contribution, marketing return on sales (or marketing ROS), and marketing return on investment (or marketing ROI) for each company. Which company is performing
Go to Yahoo! Finance (http://finance.yahoo.com/) and find the income statements for two other competing companies. Perform the same analyses for these companies that you performed for the previous
Dupont has steadily grown by developing new products but also creatively expanding the applications of those products. How can marketers become really good at this?You’ve heard of DuPont, but can
As described in the case, Dupont has a sprawling business portfolio. What are the advantages and disadvantages of this?You’ve heard of DuPont, but can you name any product it makes? Probably not.
Given that the business environment is becoming ever more unstable and unpredictable, how is Dupont positioned for that future? Is it positioned well or poorly? Why?You’ve heard of DuPont, but can
Is Dupont a customer-centered company, a product/ technology-centered company, or both? Explain.You’ve heard of DuPont, but can you name any product it makes? Probably not. DuPont makes a load of
As Lush UK implemented the change, how could it measure the effects of leaving and then returning to social media on the achievement of its marketing goals?Lush Fresh Handmade Cosmetics UK sells
Google’s mission statement is “To organize the world's information and make it universally accessible and useful.” Tesla’s mission statement is “To accelerate the world’s transition to
Identify one brand that has supported a sociopolitical cause within the past five years and that has also benefited from that initiative. Research the sociopolitical cause and discuss how the brand
The marketing environment is characterized by a dizzying array of social media and digital communications channels. How should companies think strategically about fully utilizing the capabilities of
What are three pros and three cons of using Alexa devices for health care?Amazon’s Alexa AI virtual assistant is typically used to play music, answer questions, schedule tasks and appointments,
How do the different components of a firm’s value creation and delivery network help create value and satisfaction?
What are publics in the marketing context? Why are they important to marketers?
What is scenario analysis, and how does it help firms prepare to respond to the disruptions in the marketing environment?
How should firms prepare for shifts in the technological environment?
Wells Fargo, one of the biggest mortgage lenders in the United States, has a mission of “helping customers succeed financially.” It was one of the first banks to feature an LGBTQ couple in an ad
The metals and mining sector is responsible for about 25 percent of the reported greenhouse gas emissions by the world’s 12,000 largest companies. Top companies such as Codelco in Chile, Tata Steel
Globally, there are over 1 billion vulnerable and disadvantaged children; 640 million have no shelter, 400 million have no drinking water, and 270 million have no access to health services. Present
Consider the case where Alexa becomes a common and useful part of the health-care ecosystem, leading to better-coordinated, higher-quality care for the Alexa user. In this situation, could the social
Calculate the percentage change in the 65-and-over population between 2020 and 2025, between 2025 and 2030, and between 2020 and 2030 for females & males, males, and females. You should have nine
How many more females than males aged 65 and older will there be in 2025 and 2030? What percentage of the population did females make up in each year? Draw some conclusions regarding this data and
Describe how actors in the microenvironment have influenced GoPro’s evolution.Nowadays, there are millions of videos on streaming and social media sites shot with high- definition, wearable cameras
Describe how forces in the macroenvironment have influenced GoPro’s evolution.Nowadays, there are millions of videos on streaming and social media sites shot with high- definition, wearable cameras
What current and future trends may further shape the company? Will GoPro be successful in the future?Nowadays, there are millions of videos on streaming and social media sites shot with high-
Given the story of GoPro’s rise, fall, and ongoing resurrection, what lessons can you draw for companies working in rapidly evolving, technology-intensive environments?Nowadays, there are millions
Think about where the world is going in terms of technology development, the growth of social networks, video streaming, demographic changes and preferences, globalization, geopolitical change,
Explain how internal databases differ from marketing intelligence. What are some advantages and disadvantages of both?
Marketers make heavy use of both open-ended and closed-ended questions in questionnaires. What are some of the benefits or drawbacks of using each of these ways to ask questions?
What is behavioral targeting? Provide an example of behavioral targeting. How are firms responding to consumers and public advocates that it is a form of stalking consumers?
The marketing research process has several very distinct and important stages that need to be followed. In your opinion, which is the most important? Justify your view on this.
Describe how small businesses and nonprofits can conduct marketing research despite their limited budgets.
Listen to an episode of your choice of “The Marketing Insider: A Claritas Podcast” (accessed at https://claritas. com/claritas-podcast/). Prepare a response that describes the topic of the
If you used an app like TikTok, what information would you be comfortable giving the company access to and having tied to your identity? What information would you prefer not to be tracked? What is
Is it ethical for marketers to gather massive amounts of data about everything a consumer does and to aggregate and repackage that information to create value for their business customers? What about
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