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martiếng anh ôn tập cuối học kì 1 Core product is the most basic level which addresses the question: What is the buyer really buying? It consists of the problemsolving or core benefits that consumers seeks.Core values are the functions and benefits that the product brings to the buyer. Core values often change little over time and space. ●An actual product may have as many as five characteristics: a quality level, features, styling, a brand name and packaging. All are combined carefully to deliver the core benefit a convenient, highquality way. ●An augmented product around the core and actual products including additional consumer services and benefits. Today, most competition takes place at this level. Analyze the influence of different product component levels on the purchase of motorcycle
Chapter2 How the economic and demographic environment affect the marketing activities of enterprises in the dairy milk sector? Propose solutions for enterprises to adapt to the changes in the economic and demographic environment *Economic Environment - The economic environment consists of factors that affect consumer purchasing power and spending patterns - Predominant economic trends: - Income distribution and changes in purchasing power: - Where consumer purchasing power is reduced, value-formoney becomes key to capture and retain price-conscious customers - During boom periods, consumers are addicted to personal consumption, marketers should offer product quality and good service at a fair price - Trend in consumer spending patterns - % spending on basic needs, clothing, entertainment, housing, insurance, etc - Marketers also want to identify how spending patterns of consumers at different income levels vary *Demographic Environment - Demography is the study of human populations in terms of size, density, location, age, gender, race, occupation and other statistics - Greatly influence the size, characteristics, and nature of demand in the market - Factors: - Population Size and Growth Trend: - Changing Age Structure of a Population: - The Changing Family: - Rising Number of Educated People: *The economic and demographic environment affect the marketing activities of enterprises in the dairy milk sector: Economic Factors: Income Levels: If incomes rise, consumers may be willing to spend more on premium dairy products In contrast, during economic downturns, they might opt for cheaper alternatives Inflation: Rising prices can affect production costs and pricing strategies Market Competition: Economic conditions can influence the number of competitors and their pricing strategies Demographic Factors: Population Age: An aging population may prefer different dairy products than younger generations Cultural Diversity: Demographics influence taste preferences and dietary restrictions Urbanization: Urban areas may have different dairy consumption patterns compared to rural areas *Propose solutions for enterprises to adapt to the changes in the economic and demographic environment Solutions: economic Diversify Product Range: Offer a range of dairy products at various price points to cater to different income groups Cost Efficiency: Streamline production processes to reduce costs without compromising quality Dynamic Pricing: Implement dynamic pricing strategies that adjust based on market conditions Solutions:demographic Market Research: Continuously study demographic shifts to understand changing preferences Product Innovation: Develop dairy products that align with specific demographic preferences and dietary trends Targeted Marketing: Tailor marketing campaigns to resonate with specific age groups, cultures, or urban/rural audiences Analyze the effects of natural and technological environment to marketing activities of a company in cosmetic industry? Provide recommendations for the company’ future marketing activities 2.1.1 Natural Environment - The natural environment involves the natural resources that are needed as inputs by marketers or that are affected by marketing activities - Protection of the natural environment will remain a crucial worldwide issue facing business and the public Notable trends in the natural environment: - Shortage of raw materials: - Increased cost of energy: - Increased pollution: - Government Intervention in Natural Resource Management: 2.2.2 Technological Environment - Technological environment are forces that create new technologies, creating new product and market opportunities - New technologies create new markets and opportunities The marketer should watch the following trends in technology: - Pace of technological change - High R&D budgets: - Concentration on minor improvements: - Increased regulation: Effects of the Natural Environment: Sustainability and Eco-conscious Consumers: There is an increasing trend toward sustainability and eco-consciousness among consumers Natural and organic products are gaining popularity Johnson & Johnson should focus on developing and marketing eco-friendly cosmetics to align with this trend This might include using recyclable packaging, reducing waste, and sourcing sustainable ingredients Climate Change and Environmental Impact: Climate change concerns are growing Johnson & Johnson should assess and reduce its carbon footprint in the production and distribution of cosmetic products Additionally, it should communicate its efforts to customers as part of its marketing strategy Natural Ingredients: Natural and organic ingredients are highly sought after in cosmetics The company should consider incorporating more natural ingredients into its products and clearly communicate their benefits to customers Effects of the Technological Environment: E-commerce and Digital Marketing: With the rise of e-commerce, Johnson & Johnson should invest in a robust online presence and ecommerce platform It should also employ digital marketing strategies to reach a wider audience, including social media advertising, influencer collaborations, and SEO optimization Data Analytics and Personalization: Leveraging technology for data analytics can help Johnson & Johnson understand customer preferences and tailor marketing efforts accordingly Personalized product recommendations and offers can enhance the customer experience 3 Innovation and R&D: Continuous technological advancements in cosmetics offer opportunities for innovation Johnson & Johnson should invest in research and development to create new and technologically advanced products These innovations can be a key differentiator in a competitive market Regulatory Compliance: The cosmetic industry is subject to stringent regulations Johnson & Johnson should stay updated with technological advancements related to safety and compliance to ensure its products meet regulatory standards Recommendations for Future Marketing Activities: Sustainability Commitment: Emphasize the company's commitment to sustainability by using eco-friendly packaging, reducing waste, and sourcing natural ingredients Incorporate sustainability messaging in marketing campaigns to resonate with environmentally conscious consumers Digital Transformation: Invest in digital marketing and e-commerce capabilities to reach a wider audience and facilitate online sales Leverage social media, influencer partnerships, and online advertising to connect with consumers Customer Data Utilization: Use data analytics to gain insights into customer behavior and preferences Develop personalized marketing campaigns and product recommendations to enhance the customer experience and drive sales Analyze the factors that could influence the customer behaviors when purchase a mobile phone Propose marketing solutions for a company in the sector 3.1 The factors that could influence the customer behaviors when purchase a mobile phone 3.1.1 Social factors Membership groups are groups that have a direct influence on a person's behavior and to which a person belongs.Customers often seek out reviews, ratings, and recommendations from experts, family, friends, neighbors, or online communities before making a purchase decision • Secondary groups: External factors such as trends, social media, and peer influence can play a role in shaping customer perceptions and preferences for specific mobile phone models Reference groups are groups that serve as direct (face-to-face) or indirect points of comparison or reference in forming a person's attitudes or behavior 3.1.2 Personal factor Age and Life-Cycle Stage: People change the goods and services they buy over their lifetimes Buying is also shaped by the family life cycle - the stages through which families might pass as they mature over time Occupation: Marketers try to identify the occupational groups that have an above-average interest in their products and services A company can even specialize in making products needed by a given occupational group Economic Circumstances: Marketers of income sensitive goods closely watch trends in personal income, savings and interest rates -Lifestyle: is a person's pattern of living as expressed in his or her activities, interests and opinions Customers are attracted to mobile phones that offer the latest technology, innovative features, and highend specifications such as camera quality, battery life, processing power, and display Brand reputation: Customers often consider the reputation of the mobile phone brand Established brands with a history of quality and reliability may sway customer decisions -Price: The cost of the mobile phone is a significant factor for many customers Some may prioritize affordability, while others may be willing to pay more for premium features -Features and specifications: Customers are attracted to mobile phones that offer the latest technology, innovative features, and highend specifications such as camera quality, battery life, processing power, and display -Design and aesthetics: The physical appearance and design of the mobile phone can significantly impact customer choices Some customers may prioritize sleek and modern designs, while others may prefer a more rugged or utilitarian look 3.2 Marketing solutions for a company in the sector For Xiaomi to succeed in the competitive mobile phone sector, implementing effective marketing solutions is crucial Here are some strategies for Xiaomi: -Differentiation: Xiaomi should emphasize its unique selling points and differentiate itself from competitors This might include highlighting its value for money, innovative features, or focus on a particular demographic -Online Presence: Utilize digital marketing channels such as social media, online ads, and influencer partnerships to reach a wide audience Xiaomi's strong presence in the online space can help them connect with tech-savvy consumers -Customer Engagement: Implement engaging campaigns and interactive initiatives to build a community around the Xiaomi brand This could involve contests, user-generated content, and interactive social media campaigns Inspirational group: a group to which individual wishes to belong Marketers identify them to use as brand ambassador -Product Placement: Collaborate with popular tech YouTubers, bloggers, and influencers to showcase Xiaomi products in engaging and authentic ways This can help increase visibility and credibility among relevant audiences -After-Sales Service: Highlight the availability of after-sales support and warranties to build trust and reassure potential customers about the post-purchase experience -Localization: Tailoring marketing messages to specific regional preferences and culture can help Xiaomi resonate more effectively with diverse target markets -Omnichannel Experience: Ensure consistent branding and messaging across various touchpoints, including retail stores, online platforms, and customer service channels -Sustainability and Social Responsibility: Highlight Xiaomi's efforts in sustainability and corporate social responsibility, as these aspects are increasingly important to many consumers By implementing these marketing solutions, Xiaomi can effectively position itself in the mobile phone sector, attract new customers, and build brand loyalty Choose two most convincing criteria to segment motorcycle market Explain the basis of choice with example Market segmentation is the division of the market into different parts based on certain segmentation techniques and criteria, so that in the same market segment, customers all have the same consumption characteristics each other for the product Market segmentation by demographics This is a segment that divides customers into groups based on characteristics such as age, gender, family size, family life cycle, income, occupation, educational level, religion, and race and ethnicity The reason for market segmentation based on demographic factors is because consumer needs and desires are often closely linked to demographic factors For example, if genders are different, product needs are also different It can be seen that women like to use motorbikes with beautiful appearance, light, moderate speed and easy to control Honda will produce scooter products Vision, Lead, SH Mode, to meet all requirements For men, they often prefer large displacement, high speed, and strong vehicles Honda is ready to provide SH, Air Blade, Honda PCX, etc Second, demographic characteristics are relatively easy to measure through surveys or reports Even demographic data are often available because they are needed for many different purposes Therefore, all consumer goods and manufactured goods, including motorbikes and cars, must use demographic tactics in market segmentation In addition, income demographics are also widely used in segmenting the car, motorbike, and automobile markets Market segmentation by demographics is one of the main bases for Honda to create differences in needs, desires, behavioral characteristics and marketing requirements specific to each customer group Market segmentation based on psychology Market segmentation based on psychology Psychology is a factor that plays an important role in consumers' choice and purchase of products and services Customers are psychographically segmented based on psychological characteristics, personality, lifestyle or values Furthermore, people within the same demographic group may have dissimilar psychographic characteristics Most of the general opinion of Vietnamese people is convenience, compactness, and durability Motorcycle companies, especially Honda, have taken advantage of this feature very well Honda Wave motorbikes stand out, including the Wave Alpha, Honda's savior line during the difficult period when it appeared with the advantages of being compact, easy and energy-saving It can be said that the Wave Alpha series is the savior of Honda motorbikes this month, regaining more than 60% of the motorbike market share in Vietnam Wave lines from 2002 up to now are Honda wave 110 RSX, Honda wave Alpha, Honda wave 110S, Consumer shopping behavior is influenced by ideals, achievements and desires for self-expression Therefore, brands often use psychology in market segmentation Typically, the luxury motorbike lines Honda SH 125i, Honda SH Mode, and Yamaha Grande are segmented according to psychological factors based on customers' lifestyle and personality The brand's TVCs focus on customers who are confident, strong, independent and love dynamism In other words, the luxury customer segment is aimed at successful people, leading an aristocratic lifestyle and maintaining their own lifestyle Steps in identify positioning strategy Illustrate by an example in soft drinks industry *Positioning strategy *Positioning strategy Identifying a set of differentiating competitive advantages on which to build a position A competitive advantage is some trait, quality, or capability that allows you to outperform the competition It gives your product, service, or brand an advantage over others in purchasing decisions Competitive advantage may come from and or all : prices, Feature, benefits You don’t necessarily need a long list of competitive advantages, but your list should be substantive: it should include the things that truly create distance between your offering and competitors Dig deep to identify the intangible benefits your customers experience–or intangible benefits they could experience—from your offering that make it different and better than the alternatives Choosing the right competitive advantages: Your list of competitive advantages represents a set of possible positioning strategies you could pursue for your product, service, or brand The next step is to examine how these factors fit into customer perceptions of your broader competitive set Your goal is to pick a positioning approach that gives you a unique and valued position in the market that competitors are not addressing Selecting an overall positioning strategy : With your competitive advantages identified and information about how key competitors are positioned, you’re ready to evaluate and select your positioning strategy This is the decision you make about how, exactly, you plan to position your offering relative to the rest of the field Communicate and deliver the chosen position to the market: Communicating your positioning strategy begins with creating a positioning statement and sharing it internally across the organization to make sure that everyone understands how and where your offering will fit in the market Your positioning builds on a competitive advantage, and it is essential for you to deliver on the expectations your positioning sets in customers’ minds You should design your positioning strategy to endure over time, while recognizing that it can and should be adjusted from time to time to reflect changes in the competitive set, your target segment, market trends, and so forth *Example in soft drinks industry Identifying a set of differentiating competitive advantages on which to build a position: Coca-Cola has identified several competitive advantages over the years, including its secret recipe, global brand recognition, strong distribution network, and iconic red branding These advantages have allowed Coca-Cola to establish a unique position in the market Choosing the right competitive advantages: Coca-Cola has chosen its competitive advantages wisely For example, its secret recipe is a unique selling point that sets it apart from competitors The company has also leveraged its global brand recognition to create a strong emotional connection with consumers worldwide Selecting an overall positioning strategy: Coca-Cola's overall positioning strategy can be described as follows: Emotional Branding: Coca-Cola positions itself as a brand that brings happiness, joy, and togetherness The company has successfully associated its product with positive emotions, family gatherings, and special moments Global Reach: Coca-Cola positions itself as a globally recognized beverage brand available in almost every corner of the world This positioning highlights its accessibility and ubiquity Refreshing Taste: Coca-Cola positions its products as refreshing and satisfying, making them the ideal choice for quenching thirst and enjoying a great-tasting beverage Communicate and deliver the chosen position to the market: Coca-Cola invests heavily in advertising and marketing to communicate and reinforce its positioning The company runs iconic advertising campaigns, sponsors major events, and maintains a strong online presence to connect with consumers Coca-Cola also delivers its position by ensuring its products are widely available through an extensive distribution network *Example in soft drinks industry Identifying a set of differentiating competitive advantages on which to build a position: Coca-Cola has identified several competitive advantages over the years, including its secret recipe, global brand recognition, strong distribution network, and iconic red branding These advantages have allowed Coca-Cola to establish a unique position in the market Choosing the right competitive advantages: Coca-Cola has chosen its competitive advantages wisely For example, its secret recipe is a unique selling point that sets it apart from competitors The company has also leveraged its global brand recognition to create a strong emotional connection with consumers worldwide 3 Selecting an overall positioning strategy: Coca-Cola's overall positioning strategy can be described as follows: Emotional Branding: Coca-Cola positions itself as a brand that brings happiness, joy, and togetherness The company has successfully associated its product with positive emotions, family gatherings, and special moments Global Reach: Coca-Cola positions itself as a globally recognized beverage brand available in almost every corner of the world This positioning highlights its accessibility and ubiquity Refreshing Taste: Coca-Cola positions its products as refreshing and satisfying, making them the ideal choice for quenching thirst and enjoying a great-tasting beverage Communicate and deliver the chosen position to the market: Coca-Cola invests heavily in advertising and marketing to communicate and reinforce its positioning The company runs iconic advertising campaigns, sponsors major events, and maintains a strong online presence to connect with consumers Coca-Cola also delivers its position by ensuring its products are widely available through an extensive distribution network Chapter Analyze the influence of different product component levels on the purchase of motorcycle products Propose solutions to complete the product component levels of motorcycle products - levels of product: ●Core product is the most basic level which addresses the question: What is the buyer really buying? It consists of the problem-solving or core benefits that consumers seeks ●An actual product may have as many as five characteristics: a quality level, features, styling, a brand name and packaging All are combined carefully to deliver the core benefit a convenient, high-quality way ●An augmented product around the core and actual products including additional consumer services and benefits Today, most competition takes place at this level *Analyze the influence of different product component levels on the purchase of motorcycle products Core Components: Core components include the engine, frame, suspension, and wheels These are the fundamental elements that determine a motorcycle's performance, reliability, and functionality Styling and Aesthetics: The design, styling, and aesthetics of a motorcycle can strongly influence purchase decisions, as customers often seek bikes that align with their personal preferences Pricing and Financing Options: Pricing and financing options significantly impact purchase decisions, as affordability plays a crucial role After-Sales Support and Accessories: Customers consider the availability of after-sales support, warranty coverage, and the range of accessories and parts Solution: - Invest in research and development to improve the quality and performance of core components Offer a range of engine options (e.g., different engine sizes and types) to cater to various customer needs Focus on durability and reliability in product design - Employ talented industrial designers to create visually appealing motorcycle designs Offer a variety of color options and customizable design elements Incorporate modern and trending design trends while respecting the brand's heritage - Offer a range of pricing options to cater to different budget segments Partner with financial institutions to provide flexible financing and leasing plans Clearly communicate pricing details and financing options to customers - Offer comprehensive after-sales support, including extended warranties and maintenance packages Create an extensive catalog of accessories and customization options, making it easy for customers to personalize their bikes How does the price segmentation affect business operation and other Marketing activities? Give an example of a hotel segmenting their price to illustrate - Price segmentation is the identification of different selling prices for the same product, depending on specific market and customer conditions The general objective of the segmentation policy is to stimulate the demand and consumer characteristics of all groups of customers and different market segments, demonstrating flexible marketing behaviors to create and different competitive market advantages in business On the other hand, the price differential policy also help businesses fully exploit the potential revenue sources to achieve the goal of expanding the market By offering different prices to different segments for the same or similar product, the company can stimulate consumption In other words, segmented pricing leads to an increase in demand for a product and thereby increasing sales Segmented pricing affects the quality of product and its price: for example, once product-segmented pricing is applied, different versions of product are priced differently so that companies can match those customer's needs more precisely The products have unique features, better customer service are often priced higher The impact on promotion: Price segmentation can cause an increase in Marketing expenditure for different market segments For example: the advertising campaign for rural areas must be different to the campaign for urban areas With different prices, companies penetrate more markets thereby attracting a large number of buyers The high sales volume results in falling cost allowing companies to cut their prices even further The price segmentation affect business operation and other Marketing activities: + Each price segment will target a certain customer segment + Enterprises earn more profit from selling at different prices than from selling at the same price + The market is clearly segmented and each segment has distinct needs differences + Prices in high-priced business segments can still be pricecompetitive compared to competitors An example of a hotel segmenting their price: + Time division: At different times, due to changes in supply and demand, the selling price of a product is determined at different prices An example of a hotel segmenting their price: + Time division: At different times, due to changes in supply and demand, the selling price of a product is determined at different prices For example: On public holidays of the year, the hotel room rate will be more expensive than normal days because on those days there are often many guests, so there is an additional cost to pay, so the hotel will increase the room rate + Segmentation by service conditions: hotel room rental rates have different prices to satisfy diverse needs, businesses diversify service conditions with differentiated selling prices Example: Daewoo Hotel in Hanoi Deluxe room: $74.75 Grand Deluxe room: $91.00 Deluxe Suit room: $175.50 Club room: $128.70 Analyze the advantages and disadvantages of different types of distribution channel types A large stationery production companies will use which type of distribution channel to sell their products? * Direct a) Advantages Maintain and strengthen direct relationship with consumers - Meeting market needs promptly - Grasp of market information and movement Reduce costs of consuming the products, create competitive advantage Profit concentration b) Disadvantages + Increases the workload for the manufacturer + Low level of specialization + Limited market expansion ability + Financial difficulties - Conditions apply: + Special items such as agricultural products, fresh food, fragile goods, goods with a large volume of transportation and handling + In addition, used in service business, internal consumption or smallscale businesses, not have the desire to expand the market b Indirect distribution channels: - A type of distribution channel with the participation of distribution intermediaries When it reaches the consumer, the good has undergone a number of changes in property ownership - Advantages: + The market area is expanded, goods are widely distributed + Specialization in production and trade helps manufacturers focus on their work, reduce workload, and take advantage of distribution intermediaries + Increasing market dominance + Speed up capital turnover, reduce risks - Disadvantages: + Increase the distance between producer and consumer in space and time + Reduced ability to meet demand + Difficult to capture information about markets and customers => the market is less accurate and slower, thereby not satisfying the needs of customers if not managed effectively + Increase the cost of commercial activities and if not managed effectively, will push prices up, which may be affected if the distribution intermediaries are not well managed - Conditions apply: + Large-scale production enterprises + Industrial consumer goods + Highly specialized products A large stationery production companies should use indirect distribution channel because: + Usually a large-scale company, operating with a variety of different products such as books, notebooks, briefcases, rulers, etc + The target audience is everywhere, the indirect distribution channel helps the company to expand the market faster and wider Distribution intermediaries make the circulation of goods quick and convenient + Increase the ability to expand production and use capital for enterprises + High efficiency of sales from distribution channels, stimulating product consumption + Helping businesses bring products to consumers anytime, anywhere, increasing accessibility and satisfying customers' needs Why should business advertise? What are the requirements for a successful advertising program Analyze the effectiveness of advertising for a brand of your choice in the food and beverage sector * Definition: - Advertising includes activities to introduce and transmit information about products and images of enterprises in order to stimulate customers to consume goods and services, improve the reputation of businesses and enhance their ability to sell goods and services competition in the market - Advertising is a non-personal, non-personal form of communication intended to promote ideas, goods or services, at the expense of the advertiser * Advertising is necessary because: + Customers who not know about the company's products in the market will not buy Need to advertise for customers to know about the product's presence in the market + Customers lack information about the product, not fully understand the features and effects of the product, develop knowledge about KD's products, help customers understand the product + Advertising is a marketing communication tool that has a strong influence on the psychology and perception of customers * The requirements for a successful advertisement (Principles of advertising): a Advertising information must be typical, specific, unique, and have a high amount of information: + Advertising information must represent, highlight and reflect the basic benefits of product consumption + In addition to the typical features, must show the unique features of the product + Need to be unique to enhance the effectiveness of advertising due to its attractiveness + High amount of information is not necessarily listed, but short, concise and concise sentences, easy to remember for viewers b Advertising must ensure art and culture: + Both stimulate excitement but at the same time can keep the cultural value of advertising + Thoroughly research the factors of society, social environment and culture of each region to have advertising suitable to characteristics and customs c Advertisements must be honest and legal: Show respect for consumers + Company image is enhanced + Be honest so as not to push customers' expectations up high, reducing the reputation of the product in the market + Comply with the provisions of the law d Advertisements must be repeated regularly and at the right time: + To reach a wide audience of customers + Make a positive impact on the psychology of consumers + Save costs and achieve high advertising efficiency Brand Recognition and Awareness: Coca-Cola is one of the most recognized and valuable brands globally Its advertising has played a significant role in building and maintaining this level of awareness Emotional Connection: Coca-Cola has excelled in creating emotional connections with its audience through heartwarming and universally relatable advertisements Iconic campaigns like "Share a Coke" and "Holidays Are Coming" evoke feelings of joy and togetherness Consistency and Longevity: Coca-Cola's advertising consistency and longevity have contributed to its brand's staying power The use of the red and white color scheme, the iconic contour bottle, and the Coca-Cola script font are instantly recognizable Global Appeal: Coca-Cola's advertising campaigns are designed to have global appeal, transcending cultural and language barriers This approach has allowed the brand to maintain a presence in nearly every corner of the world Adaptation to Trends: Coca-Cola has adapted its advertising strategies to align with contemporary trends and societal changes For instance, it has introduced lower-sugar and zero-sugar products in response to growing health consciousness Digital and Social Media Presence: Coca-Cola has a strong digital and social media presence, allowing it to engage with younger generations effectively It uses platforms like Facebook, Instagram, and Twitter for interactive and targeted marketing campaigns Sponsorships and Collaborations: Coca-Cola has sponsored major sporting events, such as the Olympics and FIFA World Cup, which increases brand visibility and association with these global events Sales and Market Share: Measuring the effectiveness of Coca-Cola's advertising can also be seen through its sales figures and market share Despite facing competition and changing consumer preferences, Coca-Cola has maintained a significant market share in the beverage industry