MTTM5

1. MGT201-Questions
Made By @Amoudi66
CH10
The Marketing Research 5 Process.
Defining the objectives and research needs
Designing the Research
Collecting the Data
Analyzing data and developing insights
Developing and implementing an action plan
What is the difference between primary data and secondary data?
Secondary Data
• Collected prior to the start of the research project.
• External as well as internal data sources.
Primary Data
• Collected to address specific research needs.
• Examples: focus groups, in-depth interviews, surveys.
• Sample: Choose a group of customers who represent the customers
of interest and
generalize their opinions to the market segment.

2. CH11
Explain the three components of a product.
Core customer value
Actual product
Associated services
What are the four types of consumer products?
Specialty
Shopping
Convenience
Unsought
What is the difference between product line breadth and product line
depth?
Breadth (sometimes also referred to as variety) represents the
number of product lines offered by the firm; Product line depth, in
contrast, is the number of categories within a product line.
Why change product mix breadth?
To capture new or evolving markets, increase sales, and compete in
new venues. address changing market conditions or meet internal
strategic priorities.
Why change product line depth?
To address changing consumer preferences or preempt competitors
while boosting sales, to realign resources.

3. How do brands create value for the customer and the firm?
Brands facilitate the consumer search process are valuable in a legal
sense, can lead to lower marketing costs because the brand and its
associations help sell the product and brands have real market value
as a company asset.
What are the components of brand equity?
Brand awareness
perceived value
brand associations
brand loyalty
1. What are the differences between manufacturer and private-label
brands?
Manufacturer brands are owned and managed by the manufacturer.
The manufacturer develops the merchandise, produces it to ensure
consistent quality, and invests in a marketing program to establish an
appealing brand image. Private-label brands are products developed
by retailers.
2. What is co-branding?
Co-branding is the practice of marketing two or more brands
together, on the same package or promotion.

4. 3. What is the difference between brand extension and line
extension?
Whereas a brand extension uses the same brand name for a new
product that gets introduced into new or the same markets, a line
extension is simply an increase of an existing product line by the
brand.
4. What is brand repositioning?
Brand repositioning occurs when you make changes to what your
customers associate with and expect from your brand.
Why do firms change packaging?
Attracts the consumers ‘attention.
Enables products to stand out from their competitors.
Allows for the same product to appeal to different markets with
different sizes.
A recent development is sustainable packaging
What objectives do product labels fulfill?
Meets laws/regulations
Provides info to consumer to help with their purchase decision
Can communicate benefits of the product to the consumer.

5. CH13
What are the four marketing elements that distinguish services from
products?
Services are intangible
Inseparable
Variable
perishable
Why can’t we separate firms into just service or just product sellers?
Many of them are a blend and fall within the product-service
continuum.
Explain the four service gaps identified by the Service Gaps Model.
The knowledge gap
The standards gap
The delivery gap
The communication gap
List at least two ways to overcome each of the four service gaps.
The standards gap pertains to the difference between the firm's
perceptions of customers' expectations and the service standards it
sets. Firms can set appropriate service standards and measure service
performance
The delivery gap is the difference between the firm's service
standards and the actual service it provides to customers. This gap can
be closed by getting employees to meet or exceed service standards
by providing incentives and support.

6. Why is service recovery so important to companies?
Service recovery is important because it gives companies the
opportunity to meet customer expectations and prevent a customer
from potentially churning.
What can companies do to recover from a service failure?
Resolve problems quickly.
Listen to the customer.
Find a fair solution.
Increase Service Recovery.

7. CH15
1.What are the three different considerations for setting prices?
Value-Based Methods
Competition-Based pricing
Cost-Based pricing
2.How can you use value-based methods for setting prices?
Improvement Value Method
Cost of Ownership Method
1.What are some consumer-oriented pricing tactics?
Markdowns
Quantity Discounts
Coupons
Rebates
2.What are some B2B-oriented pricing tactics?
Seasonal discounts
Cash discounts
Allowances
Quantity discounts
What common pricing practices are considered to be illegal or
unethical?
- Deceptive or illegal price advertising – Predatory pricing
- Plan discrimination – Price fixing

8. CH17
1.What issues should manufacturers consider when choosing retail
partners?
When choosing retail partners, manufacturers must look at the basic
channel structure, where their target customers expect to find the
product, channel member characteristics, and distribution intensity.
2.What are the differences among intensive, exclusive, and selective
levels of distribution intensity?
1. What strategies distinguish the different types of food retailers?
Food retailers include: Supermarkets: a self-service food store
offering groceries, meat, and produce with limited sales of
nonfood items, such as health and beauty aids and general
merchandise.
Supercenters: the fastest growing retail category, are large
stores (150,000-200,000 sq. ft.) that combine a supermarket
with a full-line discount store. By offering broad assortments of
grocery and general merchandise products under one roof,
supercenters provide a one-stop shopping experience.
Warehouse Clubs: large retailers (at least 100,000-150,000 sq.
ft.) that offer a limited and irregular assortment of food and
general merchandise with little service at low prices for ultimate
consumers and small businesses.
Convenience Stores: provide a limited variety and assortment of
merchandise at convenient location in 2,000-3,000 sq. ft. stores
with speedy checkout. Milk, eggs, and bread once represented
most of their sales, but now the majority of sales comes from
gasoline and cigarettes.

9. What strategies distinguish the different types of general
merchandise retailers?
General merchandisers include: Department Stores: carry a
broad variety and deep assortment, offer customer services, and
organize their stores into distinct departments for displaying
merchandise.
Full-Line Discount Stores: offer a broad variety of merchandise,
limited service, and low prices.
Specialty Stores: concentrate on a limited number of
complementary merchandise categories and provide a high level
of service in relatively small stores. Specialty stores tailor their
retail strategy toward very specific market segments by offering
deep but narrow assortments and sales associate expertise.
Drugstores: specialty stores that concentrate on
pharmaceuticals and health and personal grooming
merchandise.
Are organizations that provide services to consumers retailers?
Services retailers, or firms that primarily sell services rather than
merchandise, are a large and growing part of the retail industry.
1. What are the components of a retail strategy?
Price-Promotion
Personnel- Place
Product- Presentation

10. 2. What are the advantages of traditional stores versus
Internetonly stores?
The relative advantages of the most traditional retail channels
are browsing, touching, and feeling products, personal service,
cash and credit payments, entertainment and social experience,
immediate gratification, and risk reduction.
3. What challenges do retailers face when marketing their
products through multiple channels?
Consumers desire a seamless experience when interacting with
multichannel retailers. However, providing this seamless experience
for customers is not easy for retailers. Because each of the channels is
somewhat different, a critical decision facing multichannel retailers is
the degree to which they should or are able to integrate the
operations of the channels.

11. CH18
1.What are the different steps in the communication process?
1. Developing the Message.
2. Encoding the Message.
3. Selecting the Channel.
4. Message Transmission.
5. Decoding the Message.
6. Feedback.
7. Learning Effective Communication
2.What is the AIDA model?
Awareness, interest, desire, action
What are the different elements of an IMC program?
Advertising
sales promotion
public relations and personal selling
electronic media
direct marketing

12. 1. Why is the objective-and-task method of setting an IMC budget
better than the rule-of-thumb methods?
The objective-and-task method determines the budget required
to undertake specific tasks to accomplish communication
objectives.
2. How do firms use GRP to evaluate the effectiveness of
traditional media?
When measuring IMC success, the firm should examine when
and how often consumers have been exposed to various
marketing communications. Marketing communications
managers usually state their media objectives in terms of GRP,
which represents reach multiplied by frequency.
3. How would a firm evaluate the effectiveness of its Google
advertising?
Using Google AdWords, a firm can assess the effectiveness of his
advertising expenditures by measuring the reach, relevance and
return on investment for each of the keywords that were used.

13. CH19
1. What are the steps involved in planning an ad campaign?
Identify Target Audience
Set Advertising Objectives
Determine the Advertising Budget
Convey the Message
Evaluate and Select Media
Create Advertisements
Assess Impact Using Marketing Metrics
2. What is the difference between informational, persuasive, and
reminder advertising?
Informative Advertising: Used to create and build brand awareness.
Push the consumer through the buying cycle to a purchase.
Persuasive Advertising: Generally, occurs in the growth and early
maturity stages of the PLC when competition is most intense. May be
used to reposition an established brand in the later stage of the PLC.
Reminder Advertising: Communication used to remind, or prompt
repurchases. Occurs after the products have gained market
acceptance and are in the maturity stage.
2. What are the pros and cons of the different media types?
Television: Advantages wide reach, Disadvantages lots of channels
and program options. Radio: Advantage relatively cheap,
Disadvantage No video. Magazines: Advantage its very targeted,
Disadvantage inflexible. Newspaper: Advantage it's flexible,
Disadvantage expensive in some markets. Internet: Can be linked to
detailed content, Disadvantage it can be come cluttered. Outdoors:
Cheap and repeat exposure, Disadvantage it not easily targeted.

14. Direct Market: Advantage it's highly targeted, Disadvantage Cost
varies depending on market mix.
4. How can the effectiveness of advertising be evaluated?
1. Pretesting is an assessment performed before an ad campaign is
implemented to ensure that the various elements are working in an
integrated fashion and doing what they are intended to do. 2.
Tracking includes key indicators such as daily or weekly sales volume,
while the advertisement is running to shed light on any problems with
the message or the medium. 3. Post testing is the evaluation of an
IMC campaign's impact after it has implemented been.
1.Why do companies use public relations as part of their IMC
strategy?
To be more productive and profitable, gain competitive advantage,
reach more customers, and improve service to their customers.
2.What are the elements of a public relations toolkit?
PR Elements: Publications, Video and audio, Annual reports, Media
relations, Electronic media.
1.What are various forms of sales promotions?
Coupons, Deals, Premiums, Contest, Sweepstakes, Samples, Loyalty
programs, Point-of-Purchase Displays, Rebates, Product Placement.
2.What factors should a firm consider when evaluating a sales
promotion?
Cross-promoting: Efforts of two or more firms joining together to
reach a specific target market.

15. CH20
1.Why is personal selling important to an IMC strategy?
Personal selling as part of their integrated marketing communications
program is important because it adds value to their product or service
mix—that is, personal selling is worth more than it costs.
2.What are the steps in the personal selling process?
Generate and Qualify Leads
Reapproach and the Use of CRM Systems
Sales Presentation and Overcoming Reservations
Closing the Sale
Follow-Up
1.What do sales managers need to do to manage their sales force
successfully?
They get to know his or her salespeople to determine what motivates
them to be effective.
2.What is the difference between monetary and nonmonetary
incentives?
Monetary incentives are cash or financial compensation provided by
an employer to an employee, typically in addition to their salary.
Non-Monetary incentives are non-cash perks or benefits provided by
an employer to an employee.
What are three areas of personal selling in which ethical and legal
issues are more likely to arise?
The sales manager and the sales force, the sales force and corporate
policy, and the salesperson and the customer.