- •В.Е. Приходский
- •Contents
- •Introdiction
- •Market-based pricing
- •Competition-based pricing
- •1. The Principles and Functions of Marketing
- •Introduction: Develop and review a framework for marketing
- •1.1. What is marketing?
- •1.2. The objectives of marketing
- •1.3. Implementing the marketing mix
- •Test Questions
- •Product
- •Personnel
- •2. Market Research
- •Introduction
- •2.1. What is market research?
- •2.2. Sources of marketing information
- •Information requirements
- •Internal sources
- •2.3. Primary research
- •2.4. Market changes
- •Information on sales
- •Test Questions
- •A questionnaire
- •Case Study ‘Sun Rush’
- •4M Brits shrug off gloom in sun rush
- •3. Product
- •Introduction
- •3.1. Kotler’s five ‘levels’ of product benefit Core and basic benefits
- •Expected, augmented and potential benefits
- •Competition of augmented benefits
- •Copeland’s product typology and strategy
- •3.2. The product life cycle Uses of the product life cycle
- •Introduction
- •Figure 3.1. The product life cycle The introduction stage
- •The growth stage
- •The maturity stage
- •The decline stage
- •Criticisms of the product life cycle
- •3.3. New product development The importance of new products
- •Screening
- •Development
- •3.4. Product portfolio theory
- •The bcg matrix
- •Figure 3.2. The Boston Consulting Group matrix
- •A composite portfolio model: the gec matrix
- •Figure 3.3. The gec matrix
- •4. Pricing Decisions and Strategies
- •4.1. The Pricing Decision What determines prices?
- •Factors influencing pricing decisions
- •External factors influencing pricing decisions
- •4.2. Cost-Based Pricing
- •What is break-even analysis?
- •Calculating break-even point
- •Break-even charts
- •‘What if’ analysis
- •The margin of safety
- •Cost-based pricing methods
- •Fixed Cost 200,000
- •Contribution 25
- •Problems with cost-based pricing
- •4.3. Market-Based Pricing Demand based pricing
- •4.4. Competition-Based Pricing
- •4.5. Problems with Demand- and Competition-Based Pricing
- •Test Questions
- •Case Study ‘What Price Promotion?’
- •5. Customer Service and Sales Methods
- •Introduction
- •5.1. ‘The customer is always right’
- •5.2. Placing the product – distribution
- •Indirect distribution via intermediaries
- •5.3. Closing the sale
- •Test Questions
- •Case Study ‘Company Handbook’
- •6. Marketing Communications
- •6.1. Targeting an audience
- •6.2. How to reach a target audience
- •6.3. Marketing communications performance
- •6.4. Guidelines and controls on marketing communications
- •Test Questions
- •Case Study ‘Marketing Communication’
- •References and further reading
Test Questions
Which of the following is not an objective of marketing?
Reducing production costs
Market penetration
Maintaining market share
Influencing consumers' buying choices
Questions 2 – 4 share the following answer options:
Offering differentiated products and marketing activities to different groups of consumers
Using the same marketing mix on the total population
Concentrating on product development only
Concentrating the marketing mix on a small niche market
Which of the above approaches to the marketing mix is most likely to be used by each of the following business organisations?
A producer of medical equipment
A small company producing designer clothing
A large manufacturer of cheese and butter products
A firm that is product-orientated is most likely to:
Aim to maximise sales
Undertake extensive market research
Produce highly innovative products
Practice mass marketing
Questions 6 – 8 share the following answer options.
New packaging
A new advertising campaign
A new consumer phone line and help desk
A new company logo
Which of the above marketing activities could help achieve the following objectives?
Satisfying customer requirements
Increasing market share
Improving corporate image
Which of the following is not an element of the marketing mix?
Product
Price
Personnel
Promotion
Questions 10 – 12 share the following answer options:
Distributing video films and compact discs through supermarkets
Cutting price below costs to compete with new firms
Investigating trends in consumer spending from published data
Developing multimedia software for computers
Which of the above would satisfy the following marketing principles?
Utilising technological developments
Using data from published sources on trends consumer spending
Generating revenues
What is marketing?
Give two key principles which underpin marketing.
What is the marketing mix?
Suggest two ways the marketing mix could be used to apply the marketing principles you have suggested above.
Explain why profit-making and not-for-profit organisations need to use marketing.
Suggest two ways in which marketing can help an organisation achieve growth.
Suggest two major factors which can influence the pricing decisions of a firm selling microchip processors for computers.
Suggest a possible short-term pricing strategy for a firm faced with a new rival entering the market.
What is branding?
Suggest two ways a firm might create a strong brand image for a new chocolate bar.
What pricing policy would you advise the firm to pursue in launching the new chocolate bar? Give reasons for your recommendation.
‘Effective marketing means that firms must consider every aspect of the business from the perspective of the customer.’ Explain the meaning of this statement and use examples of how the marketing mix (product, place, promotion, and price) can be used effectively.