Strategic Marketing Management
Sample Exam Questions
Question 1: a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept?
A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an organisation with markets, competitors and other environmental factors.
b. What are the advantages available to Google with their Google maps (as a Pioneer firm) in the Internet search engine market? What are the advantages available to any of the follower firms in the market?
c. Under what conditions to pioneer and follower strategies each have the greatest probability
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Their research is focused on identifying new opportunities and applying new technology to satisfy customer needs as opposed to product improvement and cost cutting solutions like product oriented firms. Such companies design packaging for customer convenience and use it as a promotional tool rather than to merely protect the product or reduce costs involved and they emphasise their promotion on product benefits and ability to satisfy customer needs or solve problems (as opposed to product features, quality and price).
Advantages include…
b. Discuss the factors that mediate a marketing’s strategic role within an organisation
Lecture 1: Competitive factors affect a firms market orientation
Influence of different development stages across industries and global markets
Strategic Inertia
c. Outline the major levels of strategy in most large, multi-product organisations
Lecture 1:
1. Corporate Strategy: Decisions about the organisation’s scope and resource deployments across its divisions or businesses
2. Business-level strategy: How a business unit competes within its industry
3. Marketing strategy (Functional) Effective allocation and coordination of marketing resources and activities
d. List the five components of a well-developed strategy.
Lecture 1:
1. Scope (breadth of the strategic
Competitive advantage - Nundies is an innovative product which provides an alternative to visible panty lines; no other company produces the same type of product
3. The policy should be changed and this impact AAA to acquire more Wholesalers and grow their profit margin by allowing the label.
bar there is a wide range of beers and real ales as well as having bar
1. What is a blue ocean strategy? What is a red ocean strategy? Explain these from the perspective of company, competition, costs, and markets.
A successful Pioneer is both customer and innovation-oriented, patient and have a decentralized marketing organization with a high proportion of marketing specialists. Pioneers target innovations and early adopters and are therefore very proactive in their product development efforts. That requires a successful Pioneer to devote a significant effort to marketing research. The successful pioneer will also devote resources to educating customers and stimulating demand for the product through advertising.
It seems ambiguous whether the Kindle Fire can be categorized as a tablet or e-reader. Nowadays, these two terms are looking and performing quite similarly thus making it difficult to tell them apart. There are some important differences between the two that will prove useful in making this distinction. The first is screen size as the Kindle Fire has a 7-ich screen, which is consistent with most other e-readers. In contrast, tablets come in a range of sizes but some of the more popular ones such as the i-Pad can have 10-iche screens. Another
Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.
Strategy is about which product or services should be produced and offered to which markets and which the customer needs and wants are met whilst achieving the objectives of the organization while making a profit – how each business aim to achieve its mission within its selected area of activity.
Actually, the company is well positioned in the consumer’s mind and in the market because of its good strategies over the world. This company has evolved because at the beginning it was a company focus in mapping, printing and location information businesses, but then with the technology evolution they improved and adapted its products to the new market tendencies.
The proposals that we are going to depose are a planning of continuous action in order to confront the challenges, which BT confronts. The most important factor is considered to be the fact that the marketing environment changed rapidly after the deregulation of the telephone industry. Up to then BT was operating as a monopoly, ignoring the competition and ways to face it.
Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.
Therefore, giving most attention towards promotional of the products so as to get control on mass customers in the market.
A strategy is an expansive based equation for how a business is going to contend, what is objectives should be, & what arrangements & approaches will be obliged to do those objectives (Porter, 2008).
Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns.
The strategic management process is sometimes improperly perceived as a unidirectional flow of objectives, strategies and decision parameters from management to the employees. In fact, the process should be highly interactive since it is designed to stimulate input from creative, skilled and knowledgeable people working at every level of the business.