The marketing environment is the actors and forces outside marketing that affect marketing management's ability to a. Ward off governmentintervention b. Develop and maintain successful transactions with its target customers c. Make money d. Increase shareholder wealth
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A: PESTEL analysis is a strategic tool to analyze the macro environment of the organization.
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- Please answer all questions by explaining both right and wrong answers 1. In the BCG Growth Matrix an SBU which has weakened competition and requires no serious cash investments is called A. Dog B. Question Mark C. Cash cow D. Star 2. The most formal definition of marketing is A. Meeting needs profitably B. Identifying and meeting human and social needs C. The 4Ps (Product, Price, Place, Promotion) D. An organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders. 3. An advertisement that is paid by several organizations is called A. Combined advertising B Cooperative advertising C. Integrated advertising D. Marked down advertising 4. The buying process starts when the buyer recognizes a A. Product B. An advertisement for the product C. A salesperson from a previous visit D. A problem or needDescribe the tools, such as databases, bigdata, marketing analytics, and decisionsupport systems, useful to marketingdecision making.“The competing concepts under which organizations have conducted marketingactivities include: the production concept, product concept, selling concept,marketingconcept, and holistic marketing concept.” Evaluate the advantages and disadvantagesof each concept. Which concept do you believe is the most effective? Why? Alsodiscuss in brief the role of relationship manager in banks.
- Explain 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?“Market Segmentation: Still the Bedrock of Commercial Success” (Source: https://www.marketingjournal.org/market-segmentation-still-the-bedrock-of-commercial-success-malcolm-mcdonald/) In light of the phenomenal advancements in marketing technology, it is important to dispel some of the popular myths surrounding market segmentation and explain why needs-based segmentation is still the main route to commercial success. The most common objective of modern commercial organizations is the sustainable creation of shareholder value. This can be achieved only by providing shareholders with a total return, from capital growth and dividend yield, that exceeds their risk-adjusted required rate of return for this particular investment. In today’s highly competitive environment, the major sources of shareholder value creation are the intangible marketing assets of the business, such as brands, customer relationships and channels of distribution, the 70% of the company’s value that does not…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?
- The owners of WealthMax have shown some reservation for going online, you need toexplain them the difference between Traditional and Modern Marketing. Also, explainvarious marketing era’s with example. (All answers to be explained in 1000 words having Introduction ,Concepts and Application & Conclusion)(1) Apple claims to never do any marketing researchfor new product ideas but instead creates productsthat Apple employees themselves would be excited tohave. What are the risks of this approach? Would itwork for all consumer and organizational markets? (2)Consumers and government regulators sometimescomplain about identical products being sold atdifferent prices to different customers as part of testmarketing efforts. Are such tests ethical? Why or whynot?Ethics Marketers have been shelling out the bucks onsensory marketing techniques for years to appealto your subconscious mind. And studies show thatit works. But is sensory marketing fair? Some sayit's a way to enhance the purchasing process, whileothers say markete,s are unethically manipulatingconsumers. What are some of the pros and consassociated with sensory marketing? What is yourposition?
- choose one of followings without explain: 1. Which one of the following says that a decision in one corner of business affects directly or indirectly other corners of business because everything is interrelated? a. managment by inclusion b. Ethical CSR c. Strategic CSR d. instrumental approach 2. Last week Philippines was hit by an eruption of a volcano which led to some companies providing the shelters to the affected people. This is related to a. Strategic CSR b. alteruistic CSR c. Strategic and ethical SCR d. None of these options1. Successful marketing strategies must be geared to the needs of consumers and to _____. a. their abilities to buy b. the strategies of competitors c. the available supply of goods d. none of the above 2. Your employer is a runner-up company that aggressively attacks competitors to get more market share. For what type of firm do you work? a. market challenger b. wanna-be c. leader d. market follower 3. Favorite Memories specializes in serving market segments that major competitors overlook and ignore. What strategy does this firm use? a. market follower b. market challenger c. market seeker d. market nicher 4. Superior Sporting Goods stores seek stable market shares and profits by following competitors’ product offers, prices, and marketing programs. What do we call Superior? a. market follower b. market challenger c. market nicher d. market developer 5. Once your company has decided on its overall competitive marketing strategy, it is ready to begin planning the…Discuss the concept of artificial intelligence (AI) and its relationship to data analytics and big data. In your discussion address the roles that marketing managers will still play as AI continues to evolve.
