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marketing management
Marketing Management 1st Edition S.A. Sherlekar; E. Gordon - Solutions
=+(e) The cost plus pricing method is more popular in retail trade.
=+(d) The psychological pricing can't create expected motivation.
=+(c) Cash discount is calculated on the net amount due.
=+(b) Stamr pricing ensures uniformity in pricing throughout India.
=+III. State whether the following statements are True or False:(a) Pricing is the basic regulator of economic system.
=+(e) Which one of the following pricing methods can be easily administered?(i) Cost plus pricing method (ii) Competition oriented pricing method(iii) Demand oriented pricing method (iv) Administered pricing method.
=+(d) Fixing a low initial price is known as(i) Skimming price (ii) Penetration price(iii) Stamp price (iv) Market price.
=+(c) The Bata Shoe Company adopts(i) Mark up pricing (ii) Stamp pricing(iii) Psychological pricing (iv) Dual pricing.
=+(b) Price discrimination is a common form of(i) cost oriented pricing (ii) competition oriented pricing(iii) demar.j oriented pricing (iv) None of the above.
=+II. Choose the best answers from the alternatives given below:(a) Which one of the following priCing methods can't be followed indefinitely?(i) Marginal cost pricing (ii) Cost plus pricing(iii) Dual pricing (iv) Mark up priCing.
=+(e) Fixing a high initial price is known as price.
=+(d) Trade discount is given to the buyers while buying for ____ _
=+(c) The common term of demand oriented priCing is ____ _
=+(b) The price is determined by the true play of demand and supply.
=+I. Fill up the blanks with suitable word/words:(a) is a critical element in a marketing mix.
3 What will be the key skills and knowledge requirements of retail marketing managers in the next decade? What are the reasons for and implications of your ideas?
2 What is going to happen in the battle between retail and manufacturer brands? Are alternative distribution channels or other changes going to affect the power struggle?
1 As we move inexorably toward Internet e-tailing, is branding becoming less important than in the past? Provide a report on this and the future impact of the Internet on retail marketing.
4 It has been suggested that retailers are initially reluctant to internationalize, but over time become cautious and finally ambitious. Using examples of retailers from more than one sector, discuss the extent to which you agree with this theory.
3 Select two companies, each active in a different retail sector. For a destination of your choice, decide which would be the most likely market-entry method for each. Justify your answer with reference to the nature of the retail sector, the company and market conditions.
2 Select a retail company with an international presence. Consider what might have motivated this company to internationalize. In order of importance, list five factors that you think motivated the retailer to internationalize. For each factor decide whether it is an internal or external force and
1 Think of four non-European markets that might be characterized as advanced, structured, intermediary and traditional. What are the factors that can be used to classify them?
5 What can be done to improve the safety of retail products? What are the cost and other implications of your argument?
4 It can be said that consumerism provides the ideal business opportunity for retailers. What is meant by this statement and do you believe it is valid?
3 Explain all the different pressures there are for a retailer to become more ethical. Can you explain why a retailer or the retail industry is so resistant to pressures for change from consumer groups?
2 With regard to ethics, think about the future issues for retailing and write down what you believe are the most important aspects of concern for an improvement in the way UK retailing or business will operate in the next 20 years. Use the grid below as a guide.
1 Having read this chapter, what ethical guidelines, if any, would you now recommend to a chain of children’s clothes shops?
4 Discuss, with reasons, what you believe to be the most important future applications of IT to retail marketing and retail operations in the next 20 years.
3 Look up the websites listed in the grid below and record your impressions of them.
2 What is the supportive role of IT systems for retail (such as EDI) and how can any of the systems you have identified be used by retailers to improve further the management and costeffectiveness of their operations?
1 Taking the short-, medium- and long-term trends, how is electronic retailing going to displace the current patterns of retail purchasing? Relate this to different segments such as business-tobusiness as well as consumer sub-groups. In addition, comment on the implication for electronic advances
l What can we do to hold on to these customers and to attract others like them?
l What products do they tend to buy or order at the same time, during a single visit to a store? How much do they spend per visit?
l Where are they price sensitive and where are there possibilities for price advances?
l Who are our best customers and what do they buy?
l how retailers add value to their business through the use of IT?
5 How does Chanel perfume keep its brand strength? Can marketing ensure there is more to a brand than simply a name? Use the following grid as a guide.
4 What brands have launched (extension strategy) new products or retail concepts which do not fit easily with the core brand? Were they successful? If not, why not?
3 Read Minicase 12.1 and then write a briefing document to your marketing director (of a leading high fashion jeans manufacturer) as to the damage to different aspects of the brand which may occur if a discount retailer sources your product and sells it at discount prices. You need to cover the
2 Do you believe that own-brand products will be even more successful in the future, and if so why? What reactions do you think manufacturers will have to these changes in terms of defensive strategies?
1 Write down a list of brands or stores you believe you will always patronize. Now refer to the theory you have read to compile a list of reasons for the strength of the brands you have listed.
=+ What are the. benefits of such an approach?
=+19. Why should a marketer study product-related strategies particularly from the consumer angle of vision?
=+18. How can warranty and service after sale help marketing of a product?
=+17. Discuss packaging from consumer-citizen viewpoints.
=+16. Write notes on: (a) Brand Franchise, (b) Essentials of a good package, (c) Requisites of a good brand, (d) Labelling. .
=+15. In what way service after-sale can enhance product sale?
=+14. Explain the role of warranty in marketing of products.
=+13. Critically evaluate the role of branding and packaging in the marketing of products.
=+ How branding facilitates the buyer behaviour?
=+12. What are the marketing advantages of branding?
=+11. Explain how branding plays an important role in the formulation of marketing mix and marketing strategy.
=+10. Identify the major product-related strategies for (a) motor car, (b) life insurance, (c) medical drug, (d) ready-made food products.
=+9. Describe the three alternatives used in positioning a product to the market.
=+8. Why new products fail? What are the critical forces influencing the management of products?
=+7. Define product planning and development. Describe the stages in product planning process.
=+6. Discuss the strategies relating to product planning and development.
=+5. Evaluate the interaction of marketing and innovation.
=+4. Describe the diffusion process in the adoption of an innovation.
=+marketing mix and in product planning and development?
=+3. Discuss the stages in the product life cycle. What is significance of product life cycle in the
=+2. What are the selling pOints of a pro~uct? Comment on product line and product mix.
=+ How the addition of money-back guarantee, service after sale and credit can improve a total product?
=+(e) Convenience goods require less marketing effort.[Ans: (a) True (b) False (e) True (d) True (e) True)IV. An~wer the following 111
=+(d) Product is the centre of marketing mix.
=+(c) Most of the companies are multiproduct companies.
=+(b) Every product must pass through certain easily identifiable stages in its sales history.
=+III. State Whether the following statements are True or False:(a) Branding and packaging are the integral parts of a product.
=+(e) The Colgate company adopts(i) Family brand strategy(iii) Multiple brand strategy[Ans: (a) iv (b) iii (e) iii (d) iii (e) i)(iv)(ii)(iv)Product elimination.Individual brand strategy No brand strategy.
=+(d) Adding a new feature to the product is known as(i) Product introduction (ii) Product modification(iii) Product diversification
=+(c) Sales settle at the repurchase rate during the(i) Introduction stage of PLC (ii) Growth stage of PLC(iii) Maturity stage of PLC (iv) Decline stage of PLC.
=+(b) The composite of products offered for sale is known as(i) Product item (ii) Product line(iii) Product mix (iv) Product version.
=+II. Choose the best answer from the alternatives given below:(a) Product planning includes(i) Product introduction (ii) Product modification(iii) Product elimination (iv) All of the above.
=+(e) Sales increase at an increasing rate during the stage of product life cycle.
=+(d) Every product starts off as an ____ _
=+(c) Packaging acts as a silent ____ _
=+(b) ______ prc.ducts are those products which are intended for the use of ultimate customers.
=+I. Fill up the blanks with suitable word/words:(a) A product is'a bundle of ____ _
=+15. Write a short note on marketing strategy for industrial products.
=+14. What are the elements that influence in deciding the principles of segmentation.
=+13. What is the object of market segmentation? What will be the suitable base for marketing of Washing Machines?
=+12. Measure the differences between market segments and successful segmentation.
=+11. Discuss major market segmentation variables for the core market highlighting benefit segments.
=+10. Market segmentation is important for target markets. Elaborate with examples.
=+9. Comment on segmentation based on:(a) Behavioural differences, (b) Benefit segmentation.
=+8. What are the bases for market segmentation? Describe people-oriented approach in segmentation.
=+7. What are the conditions precedent to successful market segmentation?
=+6. Describe the three strategic options in the management of demand.
=+S. What is market segmentation? What are its benefits?
=+4. Describe the role and purpose of two alternative marketing strategies:(a) Product differentiation, (b) Market segmentation.
=+3. What are the determinants of market demand?
=+2. 'In a sense marketing management is essentially management of customer demand.' Explain.
=+1. Discuss the concept of market from the viewpoint of a company acting as a supplier of products.
=+(c) Market aggregation is just an opposite of market !;egmentation.(d) Market segmentation is not a matching process.(e) Under undifferentiated marketing a company will have multiple marketing mix.[Ans: (a) True (b) True (c) True (d) False (e) False]IV. Answer the following
=+III. State whether the following statements are True or False:(a) Seg.nentation strategy is a customer oriented philosophy.(b) Demographic variables have long been the most popular base for segmenting a con.sumer market.
=+(d) Market segmentation enables to(i)(iii )Locate marketing opportunities Identify marketing opportunities(e) The market segmentation enables the(i) concentrated marketing(iii) Differentiated marketing[Ans: (a) ii (b) if (c) iii (d) iv (e) iii](ii)(iv)Compare marketing opportunities All of the
=+(c) If the resources are limited a company can adoptGovernment oriented basis of Benefit sought None of the above.strategy.(i) Differentiated marketing strategy(iii) Concentrated marketing strategy(ii)(iv)Undifferentiated marketing strategy None of the above.
=+II. Choose the best answer from the alternatives given below:(a) Harket segmentation is a(i) Producer oriented strategy (ii) Customer oriented strategy(iii) Dealer oriented strategy (iv)(b) The market for tooth paste can be segmented on the(i) Usage rate (ii)(iii) End use (iv)
=+(e) The undifferentiated marketing strategy is a marketing strategy.
=+(d) segmentation gives emphasis on wants and desires of consumers.
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