Câu hỏi bài tập marketing management

Explain the following:1.1 Production concept: Trang 2 According to viewpoint of marketing management, production concept is arecombinant of goods produced regardless of choices or tast

CÂU HỎI BÀI TẬP MARKETING MANAGEMENT

1 Explain the following:

(a) Production concept

(b) Product line

(c) Augmented product

(d) Social marketing concept

2 Explain various concepts of marketing with suitable examples

3 Explain market segmentation with suitable examples

4 “PLC as a tool for marketing strategy" justify

5 Explain “direct marketing" and its applicability with examples.

CONTENT

I INTRODUCTION.

Today, marketing is a recognizable component in the success of businesses, afoundation of modern management If customers are satisfied, businesses will fail inbusiness compared to their competitors Without the ability to satisfy customers,businesses will fail to attract new business projects We will analyze to clarify someissues related to marketing management through the contents of 5 questions above

According to viewpoint of marketing management, production concept is arecombinant of goods produced regardless of choices or tastes of customers It is one ofthe first marketing concepts, in which, the recombinant of goods is produced only on thebelief that businesses will be able to sell because consumers need them However, today,with the advancement of science and technology, industrialization is constantlydeveloping and more and more businesses are participating in the market; the availablespace to sell products becomes cramped because there are too many companies sell thesame product Therefore, marketers must think about the quality of products and otherthings as well as the value and customers' satisfaction

1.2 Product line

Marketing experts are always eager to expand their product line When they have asuccessful brand, they are compelled to create innovative products to meet the needs ortastes of neighboring segments The strength of brand helps reduce the risk of expandingproduct line (despite the risk of reducing the value of this brand) In general, marketingexperts expand their products horizontally or vertically Horizontal expansion is to attractdifferent tastes of customers, such as Coca Co., Ltd has released die Coke, diet Coke withlemon flavor Vertical expansion is to provide a product affordable for all subjects or toserve different levels of demands, e.g Microsoft Office version for family use andMicrosoft Office version for professional use

Some companies expand their products both horizontally and vertically In mostcases, this expansion is based on the development of innovative products The verticaland horizontal in-favor expansion of product lines is the product platform Black &Decker also applied innovative approaches for product platform from the early 1970s.Based on the platform, which are power tools, controllers and electric motor, Black &Decker released many civil electric appliances such as electric drill, polisher, saw, grinderand other tools Thanks to this common platform and cost advantage, Black & Decker hasdominated on many markets specialized in civil electric devices Simultaneously, the

company has also reduced its operational complexity Instead of manufacturing andwarehousing engines, components and separate switches for each product, the companycan use a separate assembly program and a set of common components Costs have beenreduced significantly thanks to the number of big orders This helps the companyundervalue compared with competitors from Asia and increase demands for product lines

of Black & Decker

When marketers discover a market segment which is unexploited and potential forbusiness in the future, they will work with product development professionals to quicklycreate a product with ability to attract customers on this market segment In both casesabove, the basic platforms are the same, only the external appearances of the products aredifferent

1.3 Augmented product:

In the book "Principles of the market", Philip Kotler devised a very interestingconcept to develop benefits for products Kotler suggested that if you considered aproduct on three levels, it would help you extract all the benefits that your productoffered This strategy has several different names, including Total Product Concepts,Augmented Product and Three Levels of A Product

- Level 1: Core product - The most basic benefit that products give users

Level 1 is the most basic level and simply looks at what people set out to buy andwhich benefits of products that manufacturers desire to provide buyers For example, acamera can take photos but it may have other benefit(s) that manufacturers would likebuyers to enjoy such as a wide lens, face detection function and high definition video So,before designing, any product designers should list the core benefits needing to beprovided of the product

- Level 2: Actual product – more features, buying features

Level 2 is a list of the core product benefits in a product that people will buy.Products manufactured by other competitors may offer similar benefits, so, at this stage,the objective is to design a product that will convince people to buy your product Kotlersaid that this might be related to decision of the levels of quality, product and servicefeatures, style, branding and packaging For example, Apple's Iphone design has allowed

it to become a market leader for smartphones and by September, 2012, it was possible tolaunch Iphone 5, the 5th edition of this product There are many kinds of smartphones onthe market, but Apple has managed to design a product that makes people pre-order andcamp overnight outside Apple's retail stores so that they can be the first buyer of thisproduct

- Level 3: Augment product – Augmented value as warranty, delivery more than whatcustomers expect

Level 3 is related to decision of augmented intangible benefits that a product canprovide Competition at this level is based on after-sales service, assistance and manual,product-line upgrading, warranty, free delivery and so on In other words, it is somethingthat product does not offer but customers may find it useful Intangible benefit such aswarranty helps customers have peace of mind and prove that manufacturers haveconfidence in the quality of their products

1.4 Social marketing concept:

Social Marketing was launched in the 1970s At that time, Philip Kotler andGerald Zaltman defined "Social Marketing" as “Different from other areas of marketingonly for objects of marketers and their organizations" Social Marketing impacts socialbehaviors and is unprofitable for marketers but profitable for target customers and for thesociety in general”

Like Commercial Marketing, the first objective of Social Marketing is customers.Marketing aims to the community but not for the purpose of selling products Theobjective to focus on customers is expressed through the familiar P elements of mix

marketing: Product, Price, Place and Promotion However, to have an effective socialmarketing program, according to a new trend, it should have new "P":

- Public: The public here refers to both groups inside and outside the program External

participants are regarded as target customers, organizations meanwhile internal membersare attendants supporting or carrying out the program

- Parnership: Social problems are often very complex and need a lot of groups or

organizations to be involved Thus, many different organizations should combinetogether to create highly effective work

- Policy: Social marketing programs can motivate individuals in the community to change

attitudes, but it is difficult to maintain that attitude if their habitats change Therefore, thepolicy change is necessary to better suit the external environmental changes

- Purse: Most social marketing programs are often sponsored by corporations, subsidies

of the government or charities This is also an issue needing paying attention to for theimplementing units to have enough money for the program

2 Explain various concepts of marketing with suitable examples.

2.1 Basic marketing concepts

The concept of market is all potential customers, who share common demands anddesires, those who are affordable and willing to buy products, are considered as a market

The concept of marketing is to put right products into right places, with reasonableprices and at the right time Simply, you just need to create a product that a group ofpeople desire, put it in some places that are visited regularly by a group of people, set itsprice to be consistent with its value and make customers feel they can identify it

2.2 Selling concepts

The selling concept essentially mirrors the thought that consumers will notpurchase enough of the company’s products unless large-scale promotional and sellingefforts are carried out by it The focus here is more on selling the products of thecompany to consumers without comprehending the market needs and increasing salestransactions rather than building and enhancing relationships with customers.

2.3 Marketing Concept Vs Selling Concept

According to Prof Theodore Levitt ‘The difference between selling and marketing is more than semantic A truly marketing minded firm tries to create value satisfying goods and services which the consumers will want to buy What is offers for sale is determined not by the seller but by the buyers The seller takes his cues from the buyer and the product becomes the consequence of the marketing effort, not vice versa Selling merely concerns itself with the tricks and techniques of getting the customers to exchange their cash for the company’s products, it does not bother about the value satisfaction that the exchange is all about On the contrary, marketing views the en¬tire business as consisting of a tightly integrated effort to discover, create, arouse ad satisfy customer needs’.

1 Emphasis is on the product

2 Company Manufactures the product first

3 Management is sales volume oriented

4 Planning is short-run-oriented in terms of today’s

products and markets

5 Stresses needs of seller

6 Views business as a good producing process

7 Emphasis on staying with existing technology and

reducing costs

1 Emphasis on consumer needs wants

2 Company first determines customers needs and wants and then decides out how to deliver a product to satisfy these wants

3 Management is profit oriented

4 Planning is long-run-oriented in today’s products and terms of new products, tomorrow’s markets and future growth

5 Stresses needs and wants of buyers

6 Views business as consumer producing process sat¬isfying process

7 Emphasis on innovation on every existing technol¬ogy and reducing every sphere, on providing

8 Different departments work as in a highly separate

water tight compartments

9 Cost determines Price

10 Selling views customer as a last link in business

better costs value to the customer by adopting a superior technology

8 All departments of the business integrated manner, the sole purpose being generation of consumer satisfaction

9 Consumer determine price, price determines cost

10 Marketing views the customer last link in business

as the very purpose of the business

2.4 Target marketing

Target marketing is sometimes also known as proper marketing, which is the art ofmarketing with a desired target market So, target marketing is primarily related to twosteps as follows:

2.4.1 Decision on market segmentation of businesses as well as decision on targetcustomers that businesses gain

Decision on target segment of businesses is an important step of target marketing,the first time to decide which will be the target market of businesses Only throughsegmentation, we will come to know which segment will be the most profitable for us Segments can be done on the basis of:

an enterprise realizes a segment that they are targeting, marketing mix of the enterprisemay be decided accordingly to target marketing.

- Customer profile

Customer profile is a description of a customer or a set of customer's data,

including characteristics of demography, geography and psychology as well as purchasing pattern, credit and buying habits.

Profile also uses specific information to make configurations as exact as

possible All data can be anonymous, then used to give businesses clear images of customers to identify who they are and how important their behaviors may be in the future The data can be incorporated into the configurations, including: age, gender, address, incomes, financial behavior, debts and financial stress level.

After a profile has been developed, you can aim at potential customers who are consistent with this profile to define and improve investments of your business The unique combination of consumer groups with knowledge of businesses about the market and local economy means that businesses can determine the best data sources and methodologies to develop profiles of target customers and markets truly innovatively and accurately.

Profile can help you:

+ Manage database of your customers

+ Develop strong relationship with customers

+ Manage your credit portfolio and level of credit risk

+ Create more successful marketing campaigns

+ Gain the highest profits from potential customers

2.4.2 Designing the marketing mix of businesses with such appropriate products, prices,promotions and places that the target markets of businesses can adopt quickly.

- Marketing Mix – 4 P:

Once a target market has been identified, it is followed by marketing mixdecisions Marketing mix and the 4 Ps of marketing are often used as synonyms for eachother "Marketing mix" is a general term used to describe different kinds of choices thatorganizations have to implement the entire process of launching a product or service tomarket The 4Ps is probably known most and first expressed in 1960 by EJ McCarthy

- 4Ps: Product / Service; Place; Price; Promotion

- Use of 4P model - Marketing Mix

The marketing-mix model can be used to help you decide how to get a new offer

to the market It can also be used to test your current marketing strategy Once you have aclear marketing mix, try to "test" the overall supply from customers' perspective byquestioning customers with focused questionaire:

+ Does it meet their demands? (Product)

+ Will they find it at the place they do shopping? (Place)

+ Will they consider its favorable price? (Price)

+ And will marketing communications approach them? (Promotion)

Continue to ask questions and change your combinations until you are satisfiedthat you have optimized your marketing mix with available information, data and figuresthat you gather Review your marketing mix regularly as a number of factors will need to

be changed when the product or service and the market develop, mature and adapt in aconstantly changing competitive environment

Conclusion: Marketing mix will help you determine marketing factors for the success of

the market that you supply One of the most popular models is 4Ps model, which helpsyou determine your marketing options for product, place, price and promotion Using themodel when you are planning a new venture, or an evaluation for current proposal is tomaximize impact on your target market

3 Explain market segmentation with suitable examples.

The concept of market segmentation means dividing a large heterogeneous marketinto smaller and more homogeneous segments Separate marketing programs, frequentlywith a separate product, is developed to meet demand(s) of each segment

However, this approach also has limitations On one hand, research costs increasedue to investigation of many segments Production costs increase due to shorterproduction cycle and an economical effectiveness thanks to large-scale production doesnot exist Finally, sales of a segment can "sacrifice" for other segment For the marketsegmentation to be effective, marketers need to figure out a feature of similarities, inwhich, preferences of customers form specific groups

Innovative approaches for market segmentation offer marketers real opportunities.The method most commonly used to subdivide the market is to segment according topopulation or socio-economy Demographic factors include age, gender, family size,marital status, race, religion and place of living Socio-economic characteristics includeincome, occupation and education These factors are useful in describing marketsegmentation because they are easy to quantify and proven as indicators of demand,desire, preference and use of products of customers For example, William - SonomaCompany understands that 15 % of customers of types of cookware is men and bought alist of customers' addresses from men's magazines such as Gentlement’s Quarterly toincrease sales according to catalogs

These geographic differences are widely used in market segmentation Marketersuse nation, state, region, county, city and rural area as a basis for market segmentation