Strategic Marketing Chapter 3 Notes and Definitions

Please answer in detail   Name and discuss 3 primary types of objections customers typically raise: 1. Price objection: Customer believes quoted price is too high. 2. Product Objection: Customer voices concerns about some element of product or service or customer might not be familiar with the product. 3. Time objection: Customer considering buying, but needs more time or customer has no intention of buying and wants to get rid of salesperson.   Imagine you are newly employed as an Assistant Vice President (AVP) of Corporate Sales at a marketing organization.  In the upcoming week, your team will be hosting a presentation for a new line of Tennis Rackets for 75 prospects. As you are aware, prospects are going to raise objections about this product. Using the compensation technique (admits the objection is valid but also discusses other benefits). and the acknowledgment technique (admits the objection is valid) discuss how one can apply these techniques to overcome objections. Why?…

A member of an enterprise is participating in the execution of a service of Marketing advisory, in which he was responsible for being a Costumer Analyst Success, that is, responsible for receiving customer feedback and bringing solutionsi n case of any problems. Recently, Dr. Antonio gave a feedback saying that the team did not participate much and that bothered him, evaluating the team with a grade 3/10. What solution would you bring to this situation? How would you overcome this problem, what would you do as a member of the team?

Name and discuss 3 primary types of objections customers typically raise: 1. Price objection: Customer believes quoted price is too high. 2. Product Objection: Customer voices concerns about some element of product or service or customer might not be familiar with the product. 3. Time objection: Customer considering buying, but needs more time or customer has no intention of buying and wants to get rid of salesperson.   Imagine you are newly employed as an Assistant Vice President (AVP) of Corporate Sales at a marketing organization.  In the upcoming week, your team will be hosting a presentation for a new line of Tennis Rackets for 75 prospects. As you are aware, prospects are going to raise objections about this product. Using the compensation technique (admits the objection is valid but also discusses other benefits). and the acknowledgment technique (admits the objection is valid) discuss how one can apply these techniques to overcome objections. Why? Please be mindful to use…

Identification. Give the term to what is described.  1. It refers to products or services that prospective buyers can buy and use that are similar to the desired product for a lesser price. 2.  A strong competitive force when they comprise a large portion of the demand and purchase a sizeable percentage of industry products. 3. It is a conscious arrangement of rules to direct choices and accomplish objectives. 4. It is a conscious arrangement of rules to direct choices and accomplish objectives. 5. A planned course of actions taken that will guide an individual or group to achieve one or more goals. 6. It determines a course of action to achieve the set goals and objectives. 7. It exists when many sellers offers similar products that are not perfect substitutes for one another. 8. It is characterized as a deliberately formalized design of positions or jobs for individuals to fill in an organization. 9.  It is a new product with the potential for success, but they need a lot of cash for…

Direction Multiple Choice 1. This refers to measure of how well customer expectation from a purchased product or service have been met a.Consumer goods b. Satisfaction c.Marketing d. Brand equity 2. This is the appreciation in a brand's value from the point of view of customers. a. Brand equity b. Satisfaction c.Marketing d. Consumer goods 3 These are products whose physical characteristics are so identical, that it would be difficult, it not impossible, to distinguish one purchased from one vendor or another a. Brand equity b. Consumer goods c. Marketing d. Primary Demand 4. It is a form of communicating or promoting the value of a product, service, or brand to the consumers. a Durable b. Primary demand c. Marketing d. Consumer goods 5. This can used in marketing to describe the way in which a service capacity cannot be stored for sale in the future. Services cannot be stored, saved, returned, or resold once they have been used Once rendered to a customer, the service is completely…

Select any organization that you and your group find to be of interest. What product or service do they offer?  [Highly recommend that you choose one from the companies and products you all wrote about in Module 4!] Discuss the product/service base knowledge within your group.   How would this organization benefit from a marketing dashboard approach? Discuss. Using both your experience and unique perspective, discuss the elements you would recommend adding to this organization’s dashboard.  Why do you recommend these elements? How could this organization avoid some of the pitfalls potentially associated with marketing dashboards?

Required: Select any organization that recently made the headlines due to either product / service failure. Conduct research on this organization and discuss the following:• The product or service that the organisation offers. • The product / service experience that the target market enjoys• The planned marketing communication tools mix that the company uses• How the organization responded when the unforeseen negative event occurred,including the mode of communication that was used to engage with the affected customers; as well as details of the corrective actions taken.• Make recommendations on how an organization can improve the handling ofnegative situations that affect customers

Create a marketing plan for a new Hair oil

Subway Restaurant  (Sandwiches, Cookies, Drinks and etc.)   A. Describe what Subway differentiates from its competitors in the market. Please select an attribute important to the consumers and expound why you use the products or avail the services of this brand. B. Describe a specific target market for this brand and discuss why they are the appropriate segment to target upon to. C. Elaborate what you think is the value proposition of Subway when it comes to its products or services.   You may perform additional research regarding the brand but the answer should be in own words. Satisfactory answer means a helpful rating! Help me understand this pls.... fulfill all 3 requirements in one long paragraph. Make this very well and do not get other work, i will track those! tenkz

1. Using your Creative Mind, conceptualize a new product or service. What is the purpose or use of your product or service? Does your product concept appeal to the senses and emotions? Does your product or service have aesthetic appeal? Will it elevate its intended consumers to a new level of self-actualization?

I need help with these two questions    1. A dentist offering children a free cartoon character tooth brush is an example of a (n)    A.core product  B.expected product  C.augmented product  D.service benefit    _____ are perceived as a higher risk purchase, therefore, consumers are willing to spend a greater amount of time and effort in searching for the right brand.    A.Convenience goods   B.Preference goods    C.Shopping goods   D.Specialty goods

3. When considering customer satisfaction, the relationship between the consumer's and the product's is important. O information; actual features O alternatives; price O attitude; performance O expectations; perceived performance

Answer 7, not 6

Table: Factors causing the decline in salesFactors % ContributionDelayed deliveries 15%Lack of delivery personnel 8%Inaccurate sales orders 25%Wrong deliveries 32%Delayed invoicing 6%Pilferage 7%Expired items   7% a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem.Hint: know the vital few % b. What are the vital factors or vital contributors to the problem? c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem?

a. Explain the literature review on customer buying behaviour. b. Explain the literature review on product quality. c. Explain the literature review on product price. d. Explain the literature review on product promotion.

Q)Marketing strategy alone can make the success of any product the core competencies of business can develop” Is this true? Explain with example. (Subject name: strategic marketing planning) note: i need non plagerised and relevant answer only thanks

1. Product decisions affect customer a. Cost b. Benefits c. Loyalty d. Convenience 2. If a consumer buys Charmin bath tissue that is the exact same quality as a generic brand only more expensive, Charmin has created ________ with the consumer. a. Brand mark b. Brand name c. Brand equity d. Brand   3. Producing the most efficient and cost-effective version of a product describes what? a. Production orientation b. Sales orientation c. Market orientation d. Social orientation   4. Why is research critical to marketing? a. To pinpoint whether an economy is production or service oriented b. To determine if marketing activities are effective c. To determine what’s likely to be the next hot trend in marketing d. To determine basic consumer needs

Create a fictitious Business/Product idea and answer the following •You cannot use an existing Brand or Company. However the actual product/service offering does not have to be an innovation. For example, you can choose to create a branded bakery as a business. The business to have a product, therefore the business cannot be a service alone (for example, if you choose a car wash as a business, you must also sell related products).

Pick two product categories – one should be a physical good and the other should be a service.A) For both the physical good and the service, outline and discuss how the three product levels could be structured. B) For both the physical good and the service, relate these three product levels to the consumer needs. C) In your opinion, how useful is it for a marketer to divide the product into its several product levels?

Please invent an imaginary company producing a good or a service, located in whatever place and having whatever name. You should treat the aspects given in the following table: Table of Contents Introduction - The Company and its Environment (the name of the author) The Company and its Customers (The Buyers) (the name of the author) The Company and its Products (the name of the author) Price (the name of the author) Distribution (the name of the author) Promotion (the name of the author) Social Media Marketing (the name of the author) Conclusions I want an expert to give me some ideas of an imaginary companies to inspire from.

During an external information search, a consumer is most likely to enlarge his search and consider more alternative brands when:   Question 21 options:   a)  ​the perceived risk of the product or service to be purchased increases.   b)  ​the consumer is confident of making a purchase decision with the information at hand.   c)  ​the consumer is knowledgeable and well informed about a potential purchase.   d)  ​the product or service to be bought is a frequently purchased, low-cost item.

According to The 1-Page Marketing Plan, when designing an irresistible sale offer you should 'target the pain' and be a problem solver for consumers. This is because: A) Consumers want pain relief, not benefits. B) Selling features and benefits is the best way to turn your prospects into price shoppers who view your product as a commodity bought solely on price. C) People are much more willing to pay for a cure than for prevention. D) All answers are correct E) Answers A and C only.

1). Identify a company that is publicly held and widely visible in an industry 2). Explain the company, product/service mix and target market. 3). Identify the "Four Major Types of Utility" of that institution. 4). Then identify the "Value Proposition" of that company and describe how each "Utility" supports the Value Proposition the company is marketing to the target market.

Subway Restaurant  (Sandwiches, Cookies, Drinks and etc.)   A. Describe what Subway differentiates from its competitors in the market. Please select an attribute important to the consumers and expound why you use the products or avail the services of this brand. Next, Describe a specific target market for this brand and discuss why they are the appropriate segment to target upon to. B. Elaborate what you think is the value proposition of Subway when it comes to its products or services.   You may perform additional research to understand more the company but in own words is the answer. Help me understand this pls.... Satisfactory answer means a helpful rating!

Clarifying target markets, outlining sales goals for each product or sevice, and describing a company's annual marketing mix are all purposes of a marketing plan.   true or false?

create a new business ideas, and choose two of your favorites. In this activity, you’ll evaluate one of those two ideas. Instructions Choose one of your ideas. You’ll evaluate based on what you learned in your Enterprise Creation reading.  Write a bullet-point outline of your evaluation. It should cover the following elements: Needs Experience Resources Customers Business Model (include all six elements) Revenue Sources: Who are the various customer groups that will buy this product or service from you? Pricing: How much will you charge customers for this product or service? Cost of Goods: What will it cost you to make this product or service? Gross Margin: This is the sales price minus the cost of the product, divided by the sales price. For example, if you sell a product for $100 and your cost for the product is $50, then you make $50, which is a 50 percent gross margin. The higher this percentage, the more you retain of each dollar of sales to cover other costs you incur.…

Under this part, the Unique value proposition of the marketing program must be stated. Which is it? A. Promotion Strategy B. Distribution strategy C. Pricing strategy D. Product Service strategy

L.How does customer loyalty contribute to long-term business success and profitability?

1. Answer the following.   Provide the monthly sales plan of shopee (please use gantt chart or a suitable graphical representation for data visualization)   Use this in creating the sales plan:   January: New Year promotions, kick-off sales meetings. February: Valentine's Day promotions, lead nurturing activities. March: End of Q1 push, performance review, and strategy adjustment. April: Spring sales campaign, customer feedback collection. May: Mid-year training, product refresh. June: Mid-year performance review, prepare for summer promotions. July: Summer sales push, lead generation activities. August: Back-to-school promotions, focus on upselling. September: End of Q3 push, prepare for Q4 strategy. October: Fall sales campaign, early holiday promotions. November: Black Friday and Cyber Monday sales. December: Holiday sales, year-end clearance, customer appreciation events.

a. Explain the conceptual framework based on picture about factors influencing brand perception. b. Explain one underpinning theory based on picture about factors influencing brand perception. c. Explain operational definition of customer buying behaviour, product quality, price and promotion.

6. Define the four components of a marketing mix. Use either non-commercial foodservice or nutritional services to illustrate your definition. a. Product: In the context of non-commercial foodservice or nutritional services, the product component refers to the actual food items or services offered to consumers. This could include the variety of menu options available, the quality and nutritional value of the food, as well as any additional services such as dietary counseling or meal planning provided by the foodservice establishment. b. Price: Price in this context refers to the cost associated with the food or nutritional services offered. This includes menu pricing for individual items or meal plans, as well as any discounts, promotions, or pricing strategies implemented to attract customers while ensuring profitability for the foodservice provider. c. Promotion: Promotion involves the communication and marketing efforts used to raise awareness and attract customers to the…

Which marketing discusses about the interaction between company employees and customer in service triangle? O a. Interactive marketing O b. Internal marketing Oc External marketing O d. All the options are correct

. Chapter 9 further discusses brand equity and brand leverage. Xerox has strong brand equity because it has been a well-known and established brand for many years.a. According to the chapter, successful brand leverage requires that the original brand have a strong positive image and that the new product fit with the original product on at least one of what four dimensions? b. Which of these four dimensions does the business services solutions “product” fit with the original Xerox brand?