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- Critical Thinking A study conducted by Adobe foundthat 77 percent of marketers surveyed believe thatdata on customer purchase histories can improvemarketing performance, yet only 21 percent actuallyuse it. Similarly, 88 percent believe that behavioraldata can have a similar impact, but only 20 percentuse it. 57 These statistics highlight a contradiction between the perception of marketing analytics' valueand the actual frequency of execution of marketinganalytics. Why do you think this is? If you we,e incharge of implementing marketing analytics into anorganization, w hat hurdles would you expect to encounter and from whom, and how would you overcome them?1) Which of the following is most essential to any definition of marketing?A) demand managementB) the production conceptC) customer relationshipsD) making a sale 2) All of the following are accurate descriptions of modern marketing today, EXCEPT which one? A) Marketing is the creation of value for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying customers' needs. 3) According to management guru Peter Drucker, "The aim of marketing is to ________."A) create customer demandsB) identify customer demandsC) make selling unnecessaryD) set realistic customer expectationsFill in the following gaps without explanation. I need answers only. 1. The task of designing, collecting, analyzing and reporting, known as ________ is intended to define marketing problems or opportunities. 2. The buyer’s willingness and ability to buy along, buyer’s consideration to alternative brands, and their income are determinants of _______. 3. A _____ is designed to avoid direct competition of larger companies pursuing the bigger segments. 4. A(n)_____________________ attempts to maintain a strong position in its core product-market(s) but also seeks to expand into new (often closely) related markets. 5. The analysis of how consumer perceive one’s brand in comparison to the competition is known as ______. 6. Companies that establish formal policies and guidelines to ensure that the messages communicated to the customer reflect their unique values and competencies are creating a ____________________________. 7. The rate at which an innovative new product category…
- As part of the process required before launch, you need to consider the segmentation, targetingand positioning of your potential market. Consider the following questions and compile a reportfor management of no more than 600 words. In order for your business to market the new range of CDB oils successfully, the bases forsegmentation should be carefully considered. These include:o Geographic;o Demographic;o Psychographic;o Behavioural.Discuss any three behavioural segmentation bases you believe to be most relevant to theCBD oil marketing strategy in South Africa. In general, seven positioning methods can be distinguished. Select and discuss twopositioning methods you believe would be best suited to the market you have selected fortargetingExplain the important benefits of Strategic Marketing Management. (Make 5 sentences only for every benefit) BENEFITS: a) A more thorough understanding of the market b) Helps in determining the strategic direction c) Has the potential for a large payoff?Markets must be segmented for any marketing strategy to be effective.This is because from the identified segments, the firm will choose oneor more target markets. The choice of target market will then determinehow which of these concepts are designed? a. Four Ps (product, price, place, promotion) b. SWOT analysis (strengths, weaknesses, opportunities, threats) c. STP (segmentation, targeting, positioning) d. GM (gross margin) e. SBU (strategic business unit)
- Ansoff's matrix is useful for what a. Integrating a business's marketing strategy with general strategic direction b. Establishing an editorial calendar for staff to follow c. Understanding buyer personas and buyer behaviour d. Hiring new staff and training them on marketing tacticsWhen reviewing the performance of an implemented marketing strategy which factors are likely to be considered?SalesGross marginNumber of consumersCoupon redemptionROIAll are correctNone are correct2. What company document is used to develop other important company documents?marketing planpositioning statementmission statementPositioning statementAll are correctAll are incorrect3. A document with four elements that together provide instructions/directions to guide markeing strategy such as; product development, promotion, place, price and target consumers.positioningsegmentationtargetingvalue propositionPositioning statementnone of these answers are correct4. When reviewing the performance of an implemented marketing strategy which factors are likely to be considered?SalesGross marginNumber of consumersCoupon redemptionROIAll are correctNone are correct1. Market segmentation is the way a company decides to group customers based on *a.Difference in age, genderb.Differences in their needsc.Difference incontinentd.Difference in numbers 2. The efficiency frontier is not *a.Dynamicb.Staticc.Convexd.Straight 3. Economies of scale are unit cost reductions associated with *a.Profitabilityb.large scale of outputc.Increasing volume of salesd.Merger 4. Economics of scale arises specifically *a.Company going globalb.Company increases profitc.Company expandsd.Company increases output 5. What rates can determine the demand for a company’s products *a.Growthb.Accelerationc.Declined.Interest6. A standardization strategy involves the company *a.Operate in single industryb.Producing one basic offeringc.Segments in different marketd.Compete globally 7. A fragmented industry a.Consists of relatively smaller brandsb.Mainly about retail businessc.A good number of small and medium businessesd.Large player with small market 8. Fixed costs are costs that…
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