Marketing quốc tế Marketing short questions

SHORT ANSWER QUESTIONS – MARKETING PRINCIPLES Chapter 1: Marketing in a Changing World Define marketing and discuss its role in the economy Compare the five marketing management philosophies Identify and discuss the major forces now changing the marketing landscape and challenging marketing strategy Define and describe the marketing management concept Discuss the relationship between value, satisfaction and quality Answer: Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others Economic roles include meeting needs, wants, and demands; creating products; creating value and satisfaction; facilitating exchanges, transactions, and mutually beneficial relationships; developing markets; meeting societal needs; increasing consumer choice; and providing fair profits Production Concept: Consumers favour products that are available and highly affordable Product Concept: Consumers favour products that offer the most value, the best performance, and the largest number of innovative features Selling Concept: Consumers will not normally buy enough products on their own Marketing Concept: The successful company satisfies needs and wants more efficiently than its competitors Societal Marketing Concept: The successful company determines customers' needs and wants and society's best interests A growth in non-profit marketing seems to meet new needs Rapid globalisation has brought a geographic dispersion of purchasing, manufacturing, and marketing activities The changing world economy is marked by a decline in real buying power and an increase in two-income households in the US Increased demands for social responsibility require more ethical business practices and more attention to the environmental consequences of business decisions Extremely rapid change is a feature of the new marketing landscape Marketing management is the analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers, so as to achieve organisational objectives Marketing management seeks to manage demand efficiently and effectively, so as to help consumers obtain value in their transactions while securing a profit for the company Customer value is the difference between the value the customer gains from owning and using a product and the cost the customer incurs in obtaining the product Satisfaction depends on a product's perceived performance in delivering value relative to the buyer's expectations Quality, especially in the form of TQM, stems from a company's commitment to constant improvement Satisfaction comes from delighting and surprising customers with more quality, thus heightening their perceived sense of value Such practices are the only formula for long-term success Chapter 2: Strategic Planning and the Marketing Process Describe the strategic planning process In your answer identify the four steps of strategic planning Describe, and compare and contrast, the BCG and GE portfolio matrix models Also discuss the limitations of portfolio analysis Describe the marketing management process and the forces that influence it 4 Identify the sections of the marketing plan, taking care to describe both the strategic function and the contents of each section Define the marketing implementation process Explain how companies implement, organize, and control their marketing efforts Answer: Strategic planning is defined as the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities The four steps in the strategic planning process are the following: (1) defining the company mission; (2) setting company objectives and goals; (3) designing the business portfolio; (4) planning marketing and other related strategies The BCG consists of the following: Stars (high-growth, high-share); Cows (low-growth, high-share); Question Marks (low-share, high-growth); Dogs (low-share, low-growth) Strategies include building, holding, harvesting, and divesting The GE Planning Grid has two dimensions: industry attractiveness and business strength Dimensions are an index rather than a single measure It is arguable that the BCG relies too much on market stare while the GE Grid relies too much on formal planning The marketing management process involves helping each business unit of a company reach its strategic objectives in relation to creating value for target consumers while fulfilling company goals Factors influencing this process are the target consumers (of central importance), marketing mix decisions, planning, implementation, analysis and control procedures, and micro- and macroenvironmental forces Marketing plans should have eight sections The executive summary provides a brief overview of key points The current-marketing-situation section presents relevant background The threats-and-opportunities section identifies factors affecting the product The objectives-and-issues section defines share, profit, and sales goals The marketingstrategy section presents the broad approach The action-programs section specifies how to proceed The budgets section gives profit-loss estimates The controls section measures plan progress Marketing implementation turns strategies into plans and actions specifying who does what, and where, when, and how Marketing implementation requires an action program, an organization structure, decision and reward systems, human resources planning, and an appropriate fit with the company culture Controls must provide objective feedback measures for all these areas Chapter 3: The Global Marketing Environment Describe the environmental forces that affect the company's ability to serve its customers Explain the effect of changes in the demographic and economic environments on marketing management decisions Identify the major trends in a firm's natural and technological environments Explain the key changes that occur in the political and cultural environments What is the significance of cultural values to marketers? Answer: Companies are constrained by micro- and macroenvironmental forces Microenvironmental forces include company departments, suppliers, marketing intermediaries, customers, competitors, and various publics Macroenvironmental forces include demographic, economic, natural, technological, political, and cultural forces The following changes in the demographic environment affect marketing decisions: the changing age structure of the Canadian population, the changing Canadian family, geographic shifts in population, the increase in educational attainment and white-collar composition of the workforce, and increasing ethnic and racial diversity Economic trends include changes in income and income distribution, and changes in consumer spending patterns Trends in the natural environment include shortages of raw materials, increased cost of energy, increased pollution, and government intervention in natural-resource management Trends in the technological environment include the fast pace of technological change, high research-and-development budgets, concentration on minor improvements, and increased regulation by government agencies Changes in the political environment include introduction of legislation regulating business, changing government agency enforcement, and an increased emphasis on publicly responsible action Trends in the cultural environment include the persistence of cultural values; shifts in secondary cultural values; and changes in people's views of themselves, of others, of organisations, of society, of nature, and of the universe Marketers should remain alert to shifting cultural values in order to spot developing threats or opportunities, and to help ensure that their marketing strategies reflect the relevant culture's values Cultural values may be reflected in the political-legal environment and in the competitive environment Firms that engage in international marketing may have to learn how to deal with radically alien cultures Chapter 4: Marketing Research and Information Systems Explain the importance of information to the company Define the marketing information system and discuss its parts Describe the four steps in the marketing research process Identify the different kinds of information a company might use Compare the advantages and disadvantages of various methods of collecting information Answer: Marketing managers need timely, reliable, and relevant information in order to make decisions that will enhance the company's ability to compete successfully in the marketplace and increase customer value relative to the competition Information, although important, must be balanced between manager needs and what it is feasible to offer Too much information can overwhelm managers just as surely as too little information can lead to poor decisions A marketing information system (MIS) consists of people, equipment, and procedures to serve marketing decision makers by gathering, sorting, analyzing, and distributing needed, timely, and accurate information The following are its four parts: components for the developing of information; information system components; marketing managers; and the marketing environment The MIS links all these elements into a useable whole The following are the four steps in the marketing research process: defining the problem and the research objectives; developing the research plan; implementing the research plan; and interpreting and reporting the findings A company can use either secondary or primary data Secondary data comprises information that already exists, having been collected somewhere for some other purpose Primary data comprises information collected for the specific purpose at hand Advantages: Mail questionnaires facilitate collection of large amounts of information, at low cost, from many households, without interview bias Telephone work is best for quick information collection, is flexible, provides sample control, and promises good response rates Personal interviews reach individuals or groups, are flexible, and offer tight focus Disadvantages: Mail is inflexible and offers low response rates Telephone work is expensive and suffers from interviewer bias Personal interviews are expensive and typically present sampling problems Chapter 5: Consumer Markets and Consumer Buyer Behaviour Define the consumer market and describe the elements of a simple model of buying behaviour as identified in your text List and describe the major social factors that influence consumer buying behaviour Discuss the four major psychological factors that affect the buying process Identify and discuss the stages in the consumer adoption process for new products Identify and discuss the four types of behaviour associated with different types of buying situations Answer: The consumer market comprises all the final consumers of products and services A simple model of consumer behaviour uses the following headings: the "4 P's" (Product, Place, Price, Promotion); "Environmental Forces"; the "Buyer's Black Box" (buyer characteristics and buyer decision processes); and "Observable Choices" (decisions regarding product, brand, dealer, purchase timing, and purchase amount) Social factors include the influence of small groups, of family, and of social roles and status Groups can be defined by membership (whether primary or secondary), by reference, or by aspiration Opinion leaders exert influence within reference groups Family of orientation (parents) and procreation (spouse and children) also influence buying behaviour The term "roles" refers to socially expected activities, and "status" to the esteem granted by society to the person performing in a given role Psychological factors include motivation, perception, learning, and beliefs and attitudes A motive is a drive sufficiently pressing to direct a person to seek satisfaction Perception is influenced by selective retention, attention, and distortion Learning arises from changes in behaviour due to experience, and occurs through the interplay of drives, stimuli, cues, responses, and reinforcement Beliefs are enduring descriptive attitudes The following are the stages in the new-product-adoption process: awareness, interest, evaluation, trial, and adoption The following are four types of buying behaviour: complex buying behaviour, dissonance buying behaviour, variety-seeking buying behaviour, and habitual buying behaviour Chapter 6: Business Markets and Business Buyer Behaviour Explain how business markets differ from consumer markets Identify the major factors that influence business buyer behaviour List and define the stages in the business buying decision process Identify and discuss the three major types of buying situations Explain the unique aspects of how institutional and government buyers make their buying decisions Answer: Main differences include market structure and demand, nature of the buying unity, and types of decisions and decision processes Business markets are geographically concentrated and have derived, inelastic, and fluctuating demand Buying is more professional and involves more people Decisions are more professional and involve more people Decisions are more complex and more formalized; and in the decision process, the buyer and seller are more dependent on each other There are four major influences The following are environmental elements: level of primary demand; economic outlook; cost of money; supply conditions; technological change; political/regulatory change; and competitive developments The following are organizational elements: authority; status; empathy; and persuasiveness The following are individual elements: age; education; job position; personality; and attitudes toward risk Stages include problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order routine specification, and performance review A straight rebuy is a reorder without any modifications A modified rebuy involves some changes in product specifications, prices, terms, or suppliers New-task buying occurs when a company buys a product or service for the first time In such cases, greater risk or cost will lead to a larger number of decision participants, and to a greater effort in searching for information Institutional buyers include schools, hospitals, and prisons Many institutions have low budgets and captive patrons Government buying may be coordinated by a special agency and the buying process may be scrutinized by various publics Governments may be influenced by non-economic decision criteria Government buying practices have various potential drawbacks, including the following: they can be complex; they can entail inordinate paperwork, bureaucracy, and regulation; and prices can be unattractively low Chapter 7: Market Segmentation, Targeting, and Positioning for Competitive Advantage Define market segmentation, market targeting, and market positioning List and discuss the major basis for segmenting consumer and business markets Explain how companies identify attractive market segments and choose a marketcoverage strategy Identify and discuss the four characteristics of effective market segmentation Explain how companies can position their products for maximum competitive advantage in the marketplace Answer: Market segmentation is the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviour who might require separate products or marketing mixes Market targeting involves evaluating each segment's attractiveness and deciding which segments to enter Market positioning is the setting of the competitive position and the creation of a detailed marketing mix The major bases for segmenting consumer markets are geographic, demographic, psychographic, and behavioural The major bases for segmenting business markets are demographics, operating variables, purchasing approaches, situational factors, and personal characteristics Segment attractiveness depends upon desirable segment size and growth, current and potential competitors, threat of substitutes, power of buyers, and the power of suppliers Market coverage can include undifferentiated, differentiated, and concentrated strategies Market segments must have measurability (in terms of size, purchasing power, and clear profiles), accessibility (can be effectively reached and served), substantiality (are sufficiently large or profitable), and actionability (can design programs for attracting customers effectively) Competitive advantage (Porter) offers consumers a superior value for the price Differentiation is the key to competitive advantage A product's position is the view customers have of its value Positions can be differentiated by product attributes, services, personnel, or image characteristics Chapter 8: Product and Services Strategies Define PRODUCT and the major classifications of consumer and industrial products Describe the roles of product packaging and labelling 3 Identify and discuss brand equity Define services and describe four characteristics that affect the marketing of a service Define and explain how persons are marketed Answer: A product is anything that can be offered to a market for attention, acquisition, use, or consumption, and that might satisfy a want or need Products can be classified as durable goods, non-durable goods, and services Consumer classifications include the following: convenience, shopping, specialty, and unsought The following are industrial classifications: materials and parts, capital items, and supplies and services Packaging refers to the design and production of a container or wrapper for goods The packaging concept states what the package should be or for the product Packages in all cases protect the product, and ideally serve the further function of promoting and distinguishing it Labelling in all cases identifies the product, and in many cases also grades, describes, and promotes it Powerful brands have equity Brand equity combines high brand awareness with brand preference and loyalty, creating value in and of itself The credibility of brand equity becomes a marketable product commodity in its own right Over time, brand equity can be an enduring asset of a company, as it reliably provides continuing customer equity A service is any activity or benefit that one party can offer to another, provided that this activity or benefit is essentially intangible and does not result in the ownership of anything The four characteristics of services are intangibility, inseparability, variability, and perishability Person marketing consists of activities undertaken to create, maintain, or change attitudes or behaviour toward particular people The objective of person marketing is to create a celebrity whose name generates attention, interest, and action Key aspects of celebrity are durability life-cycle patterns ("standard," "overnight," "comeback," and "meteor") and scope (the geographic range achieved) Chapter 9: New Product Development and Life Cycle Strategies List and define the steps in new product development Explain how companies find and develop new product ideas Identify and describe the stages of the product life cycle Explain how marketing strategy changes during a product's life cycle Distinguish between sequential product development and simultaneous product development processes Answer: Steps include idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization Go/no-go decisions become more specific at each successive level Major sources of new product ideas include internal sources (such as sales-force and other employees); customers; competitors; distributors and suppliers; and trends, including broad societal trends, originating in the general public Stages in the product life cycle: development, introduction, growth, maturity, and decline As products are prepared for launch, marketers must choose initial positioning carefully Strategists, especially market pioneers, must choose between short-term and long-term profits During introduction, strategy focuses on awareness and acceptance of basic product Growth attracts competitors and more features In maturity, strategy looks to modifying the market, product, or mix Decline forces a decision on continuing or discontinuing a weak product 5 In sequential product development, each functional area of the company works on the new product and passes its completed work on to the next division In simultaneous product development, each functional area provides ongoing (or "real-time" or "online") feedback that is incorporated into the design, production, and marketing-planning stage Simultaneous design, although organizationally more complicated, reduces total development and improves quality  ... international marketing may have to learn how to deal with radically alien cultures Chapter 4: Marketing Research and Information Systems Explain the importance of information to the company Define the marketing. .. information system components; marketing managers; and the marketing environment The MIS links all these elements into a useable whole The following are the four steps in the marketing research process:... consumers (of central importance), marketing mix decisions, planning, implementation, analysis and control procedures, and micro- and macroenvironmental forces Marketing plans should have eight