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Structure of Test on Principle
这是一篇关于Structure of Test on Principle的思维导图，主要内容包括：Part Ⅶ Case Study (20 points, 5 for Question 1, 15 for Question 2)，Part Ⅵ Problem Diagnosis (3*5 = 15 points)，Part Ⅴ Brief-Answer Questions (4*5
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Structure of Test on Principle
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Structure of Test on Principles of Marketing
PartⅠ Term-Definition (5*3 = 15 points)
brand equity
Brand equity is the value associated with the differential effect that a brand has on customer response
brand extension
Brand extension means extending an existing brand name to new product categories
brand positioning
Brand positioning involves implanting a brand’s unique image into the minds of the target customers.
customer-driven marketing
Customer-driven marketing is the marketing effort devoted to identifying and satisfying the needs that customers are conscious of
customer-driving marketing
Customer-driving marketing is the marketing effort devoted to identifying and satisfying the needs that customers are unconscious of, telling them what they need
customer-delivered value
Customer-delivered value is the difference between total customer value and total customer cost
customer equity
Customer equity is the total combined customer lifetime values of all of the company’s customers
customer lifetime value
Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage
(outcome) customer satisfaction
Customer satisfaction is the extent to which a product’s perceived performance matches a buyer’s expectations
customer value analysis
an analysis conducted to determine what product attributes customer value
integrated marketing communications
IMC is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products
internal marketing
Internal marketing involves training and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction
market-penetration pricing
setting a low price for a new product in order to attract a large number of buyers and a large market share
market-skimming pricing
setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price
marketing concept
the marketing concept states that a company should first understand what customers need and then make products to satisfy those needs
marketing mix
Marketing mix is the set of controllable tactical marketing tools——product, price, place, and promotion——that the firm blends to produce the response it wants in the target market
value-based pricing
To execute value-based pricing, marketers first need to understand the customers’ perceptions of the product’s value, and then set the price at the level that matches the value perceptions
vertical channel conflict
disagreements among channel members over goals, roles, and rewards which occurs between different levels of the channel
PartⅡ Gap-Filling (10*1 = 10 points)
characteristics of a mission statement
Market-oriented rather than product- or technology oriented
Motivating
generic competitive strategies proposed by Michael porter
Overall cost leadership
Differentiation
Focusing
SWOT analysis
purpose:
summarize the findings of external and internal environmental analysis
provides a basis for strategy choice
marketing information system design
starts with the needs of information users
characteristics of business markets
Marketing Structure and Demand
Business markets contain fewer but larger buyers .
Business buyer demand is derived from final consumer demand
Nature of the Buying Unit
Business purchases involve more participants
Business buying involves a more professional purchasing effort
Types of Decisions and the Decision Process
In business buying, buyers and sellers build close long-run relationships
requirements of effective positioning
uniqueness and value-laddenness
positioning statement
= value proposition
dimensions of product quality
performance quality (ability to perform its functions)
性能质量
conformance quality (freedom from defects and consistency in delivering a targeted level of performance)
一致性质量
general pricing approaches
cost-based approach
buyer-based (also known as value-based ) approach
competition based approach .
push strategy versus pull strategy
suitable for
industrial products
suitable
consumer products
new product pricing strategies
market-skimming pricing
market-penetration pricing
types of advertising versus product life cycle stages
What stages does the product life cycle consists of?
introduction
growth
maturity
decline
what types of advertsing
informative
persuasive
reminding
key to loss leader pricing
to select items for which consumers’ price knowledge is accurate
step pricing
3 benifits
First, the company can capture a larger market share by meeting multiple price-related needs.
Second, the price difference between product items is much greater than the cost difference, generating more profit margins for the company.
Third, this pricing strategy is likely to entice up-buying——buying more expensive items.
key to brand positioning
to establish points of differentiation that can bring value to customers.
Part Ⅲ True or False Statements (10*1 = 10 points)
Marketing occurs in a competitive environment.
Marketers must study competitors as well as customers.
It is important to note that with the development of e-commerce, the Long Tail Theory may be more revealing of the business reality.
From a producer’s point of view, a greater number of levels means less control and greater channel complexity.
Promotional pricing can be an effective means of generating sales in certain circumstances but can be damaging if taken as a steady diet
For products involving customer experience, offline retailing will continue to exist. Offline retailing for such products stands to gain an edge over online retailing
Service people must be good at recovering from mistakes to create secondary satisfaction. They must be empowered to make on-the-spot decisions.
The purpose of positioning is to gain a competitive advantage. The means of positioning is differentiation.
In the neo-consumerist age determinants of brand value are more than brand awareness and reputation. It also relies heavily on positive voice on the internet, ineractions and empathy with customers.
Whenever possible, companies should try to be proactive rather than reactive.
Marketers would do well to think in terms of the 4Cs but act on the 4Ps.
Successful strategic planning results in doing the right thing at the right time in the right place.
Part Ⅳ Multiple-Choice Questions (10*1 = 10 points)
BCG matrix
question marks
built
stars
held
cash cows
harvested
dogs
divested
market growth rate and relative market share
levels of strategy
corporate strategy
localization vs standardization
localization vs internationalization
specialization vs diversification
business strategy
overall cost leadership
differentiation
focusing
functional strategy
STP
relationships between advertising objectives and product life cycle stages
What stages does the product life cycle consists of?
introduction
growth
maturity
decline
what types of advertsing
informative
persuasive
reminding
growth strategies
intensive growth strategies
market penetration
market development
product development
integrative growth strategies
vertical integration
horizontal integration
diversification growth strategies
concentric diversification
horizontal diversification
conglomerate diversification
segmented pricing
The forms of segmented pricing include
customer segment pricing
product-form pricing
location pricing
time pricing
distribution strategies in terms of width
In terms of width, the channel takes three forms:
Intensive distribution 密集分销 —— using as many outlets as possible
Selective distribution —— using more than one, but fewer than all, of the intermediaries who are willing to carry a company’s products
Exclusive distribution ——giving only a limited number of dealers the exclusive right to distribute the company’s products in their territories.
marketing management orientations
The production concept
The product concept
The selling concept
The marketing concept
The societal marketing concept
product line stretching
high-end product
mid-range product
low-end product
cost-plus pricing
Unit Price =Unit Cost /(1- Desired Return on Sales)
pricing considerations
Internal factors
Marketing Objectives
Marketing Mix Strategy
Costs
Organizational Considerations
External factors
Nature of the Market and Demand
Competition
Other External Factors
Part Ⅴ Brief-Answer Questions (4*5 = 20 points)
In what ways does service marketing differ from physical goods marketing?
physical goods marketing relies on external marketing whereas service marketing involves internal marketing and interactive marketing in addition to external marketing.
the marketing mix for physical goods includes 4Ps (product, price, place, promotion) while the marketing mix for services covers 7Ps (4Ps+people, process, physical evidence).
Steps involved in STP
To identify bases for segmenting the market
To develop segment profiles
To develop measure of segment attractiveness
To select target segments
To develop positioning for target segments
What principles should channel structure design follow?
buying convenience
cost-effectiveness
consistency with other marketing mix elements
controllability
What are the possible benefits that can be derived from setting price steps between items of a product line?
the company can capture a larger market share by meeting multiple price-related needs
the price difference between product items is much greater than the cost difference, generating more profit margins for the company
this pricing strategy is likely to entice up-buying——buying more expensive items
What are the major criteria for evaluating market segments before selecting one to target?
Segment size and growth
Segment structural attractiveness
Company objectives and resources
What factors contribute to the building of a strong brand?
To create an impressive brand name and logo
To develop a clear and effective positioning
To be committed to delivering reliable and consistent quality
To build brand awareness through continuous exposure and publicity
To acquire brand reputation through adequate involvement in PR
To build brand culture by telling thematic stories
In what ways can brands be positioned?
A product or brand can be positioned on:
Attributes
Benefits
Attributes and benefits
Beliefs and values
Performance-to-price ratio
What is the nature of public relations (PR)? What functions does it perform?
By nature
PR involves building good relations with the organization’s various publics by obtaining favorable publicity, building up a good organizational image, and handling or heading off unfavorable rumors and events
performs two major functions
image building
recovery from social risk or crisis
What major characteristics does a service have? What are the implications of these characteristics to marketers?
A service has four major characteristics
intangibility
Intangibility suggests that service firms need to create physical evidence to make services tangible.
perishability
Perishability suggests that service firms must be good at forecasting and managing demand.
inseparability
Inseparability suggests that service firms must attach adequate attention to the interactions between the service provider and the customer and that customer-contact people must learn to recover from mistakes.
variability
Variability suggests that marketing management must set service standards and procedural norms.
What’s the point in dividing a product into three levels?
It can help a company to establish multi-dimensional and comprehensive three-dimensional thinking during product development
It can help a company to extend the fits for brand positioning
It can help a company to identify the level on which competition takes place
Part Ⅵ Problem Diagnosis (3*5 = 15 points)
The problem is that +术语+分析
Positioning
Underpositioning
failing to differentiate the company
Overpositioning
giving too narrow a picture
Confused positioning
leaving a confused image
Case 1: Evergrande ice spring’s marketing strategy
Case analysis
Blunder 1: unrealistic marketing goal
Blunder 2: distributing mid-to-high-end products in the same way as low-end products are distributed
Blunder 3: brand image confusion resulting from conflicting promotions
Case 2: KingMed Diagnostics
Value-chain-based marketing
Acquiring a full understanding of the customer’s business procedure
Identifying “weak points” in the business procedure and starting marketing there
Offering to overcome the weak points and seeking to substitute the customer on those point
Getting embedded in the customer’s value chain and becoming an integral part of the chain
Case 3: Ancient Phoenix City in Hunan province charging an entrance fee of RMB148 in 2013, angering the business owners in the city.
Common pricing problem
Companies being too quick to reduce prices
Pricing being too cost-oriented
Price changes not reflecting market changes
Pricing not taking account of the rest of the marketing mix
Prices not being varied enough for different products, market segments, and purchase occasions
Case 4： Sony —— a frequent user of market-skimming pricing
Market skimming makes sense only under these conditions
The product’s quality and image must support its higher price, and enough buyers must want the product at that price
The costs of producing a smaller volume cannot be so high that they offset the advantage of charging more.
Competitors should not be able to enter the market easily and undercut the high price.
Case 5: Luckin Coffee’s Promotion Strategy
Target market and brand’s positioning
Brand
Brand promotion
Media strategy: precise placement of ads in selected regions
Communication strategies: usage-situation-embedded
Strategy 1: KOL + usage situations
Strategy 2: brand cooperation
Sales promotion
Systemized promotion
Part Ⅶ Case Study (20 points, 5 for Question 1, 15 for Question 2)
Case implications:
火锅店
STP+7P
marketing fits
Fit 1: fit between marketing goal and environment
Fit 2: fit between STP and environment
Fit 3 ： fit between 4P/7P and STP
Fit 4 ： fit between and among 4P/7P