Testion 8 Discuss the key strategies that can be used to enhance profits in markets with intense price competition. Use a local example of a company that is has employed at least 2 of these strategies
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- Q 1. Describe the four characteristics of services that marketers must consider when designing marketing programs. How do the services offered by a doctor’s office differ from those offered by a bank?In marketing, what you get minus what you give up is best known as which of the following? Question 2 options: a) Goods b) Value c) Price d) DistributionQ4. With help of an illustration, state and describe the four major sets of segmentation variables that might beused in segmenting consumer markets.
- Question 2)Commercial television channels depend on one thing for survival - advertisement revenue. Naturally they have to come up with programs to attract the most number of people to watch their channels. Assuming that you are a television strategist (say for C9) and you have acquired some knowledge of market segmentation. You are to analyse the television market of C2 (ABC), SBS ,C7 ,C9 ,C10 based on the following questions.a) What do you think would be the most popular program that will be seen by the majority of the people in all these channels? How do you know that? b)What type of people do you think will watch "Deal or no Deal"? c)Who would watch “The Bold and Beautiful” on C10 in the afternoon? d)f) In what ways can Australian soap operas like " Home and Away" compete with American sit -com programs like “The Big Bang Theory”.Question 2)Commercial television channels depend on one thing for survival - advertisement revenue. Naturally they have to come up with programs to attract the most number of people to watch their channels. Assuming that you are a television strategist (say for C9) and you have acquired some knowledge of market segmentation. You are to analyse the television market of C2 (ABC), SBS ,C7 ,C9 ,C10 based on the following questions.a) What do you think would be the most popular program that will be seen by the majority of the people in all these channels? How do you know that?Task 10The subject of MarketingMark the statement or statements below that are correct: According to Baines et al __________ Select one or more options: Is pricing of the organization's products primarily a task for other functions at the company than the one that works with marketing, such as. the company's finance function Is marketing synonymous with sales If the development of new products is something that marketers should not get involved in, it is a task that other functions at the company do better Is communication and advertising marketers most important task Marketing is about creating value for customers, society and stakeholders Should one sometimes try to deceive the consumer
- 1.Grocery chains such as Abdullah Al-Othaim Markets track consumers’ purchasing habits through store loyalty cards like Iktisab. These cards collect purchasing data and build consumer profiles. How can grocers like Abdullah Al-Othaim Markets use these data to create value for the firm and consumers? (Minimum 150 words) 2.Identify a specific brand of your choice from the local market that has developed a high level of brand equity. What specific aspects of that brand establish its brand equity? Critically examine based on the concepts discussed in Chapter-11. (Minimum 150 words) 3.Coupons and rebates benefit different distribution channel members. Which would you prefer if you were a manufacturer, a retailer, and a consumer and why? Explain based on the concepts discussed in Chapter-15. ) (Minimum 150 words) 4.Some argue that retailers can be eliminated from the distribution channel because they only add costs to the final product without creating any…Q3. a) Explain the difference between Existing, Latent and Incipient Demand, giving real examples in each case. b) What role does market research play in helping companies better satisfy each form of demand. Give examples to illustrate your answer.QUESTION 2 In the consumer buying decision process, complex interaction of internal marketing activities and external environmental forces play a very important role in influencing consumer choices. Marketers acknowledge that among these forces, internal forces are among the most difficult to understand, as the important traits of consumers vary by individuals and also change over time. Discuss how these internal factors can be an important force in delivering value to the customers.
- Buyer Analysis: Product Nopal 1. Identify your target customer, Describe customer demographics, address customers' needs, and discuss how buying decisions are made. Note: For question 2 Remember that you are selling this business plan to venture capitalists to seek funding. All they care is about money and profit). So it would be wise to illustrate the followings in your explanation. 2. Your business objectives, and marketing plan with (Product, Price, Promotion, and Place/distribution) to accomplish the goals. The amount of money you are asking for, profit goals, and the estimated time to break even. Strongly sell your project to venture capitalists. Convince them that it will be a loss to them if they do not invest in you!According to the growth-share matrix, a lower-shared business unit in a high-growth market in called… Question 5 options: A) Star B) Cash Cow C) Dog D) Question MarkBCG Matrix analyzes "questions marks" as difficult to assess because of uncertain future of these products. The success or failure of question mark product depends on ________. Question 9 options: market share fluctuation competitive strategy success of marketing campaigns strategic financial investment