The seven UK grocery retailers are plotted upon the positioning map. Is your answer similar? Remember, if we disagree slightly that’s because we have a different perception.
The seven UK grocery retailers are plotted upon the positioning map. Is your answer similar? Remember, if we disagree slightly that’s because we have a different perception.
Vijay has a wealth of business experience which he will put to work for him on this marketing project for Dada. However he will need assistance and advice regarding digital media and satellite technologies. This could mean the recruitment of an experienced assistant marketing manager, the use of a consultant or some marketing research. If an advertising agency is to be recruited, then it too will need expertise in this sector. At some point Vijay might consider some marketing training to consolidate and update his practical experience e.g. an Executive MBA.
Here is the final POWER SWOT for Dada Sky Inc.
This is a POWER SWOT Analysis, applied to Dada Sky Inc. A longer POWER SWOT would have more categories and factors within strengths, weaknesses, opportunities and threats. The next stage would be to look at potential marketing objectives and marketing strategies, focusing on the highest ranking factors first.
A single strength has been changed to a weakness.
All elements have been weighted by their importance and impact.
Detail and justification has been added to the analysis so that it is more robust for the marketing decision-making that follows.
Finally after the detail has been added, elements are ranked and prioritized. This starts with a focus upon marketing opportunities.
1) Cost of Goods Sold reduces Gross Sales to arrive at Total Income.
2) Net Income would increase by $5,000.
3) Net Income would increase by $5,000.
|Less Returns and Allowances|
|Cost of Goods|
|inventory, January 1|
|Total Merchandise Handled|
|Less Inventory, December 31|
|Cost of Goods Sold|
|Travel and Entertainment|
|Dues and Subscriptions|
|Repairs and Maintenance|
|Taxes and Licenses|
Register for a Google Adwords account, by visiting the Google homepage, and clicking on Advertising Programmes. Cost out a campaign for keywords such as ‘Inverness’ – ‘Scottish Salmon’ – ‘Birds Scotland’ and any others that you consider important to potential visitors.
Of course there will be many other ways to promote your business, which would be contained in a fuller marketing plan – such as rate reductions and special offers at times of low occupancy. The Hotel could also provide free guides on local birds and fishing spots.
You could also consider registering with Yahoo! Search Marketing, perhaps under Local Search – Scotland, Inverness.
You could register your website with Commission Junction. Your site would be attractive to affiliate programme owners such as airlines, and travel companies. This could become a source of additional revenue.
You need to create a media release and send it to tourism magazines and institutions ( those that promote tourism businesses in Scotland).
Keep a record of previous visitors, and mail shot them with news on the Hotel.
Print your domain name on all printer material such as business cars, compliments slips, and brochures.
Here is the complete battlemap. As you can see, the second basis for segmentation was ‘musical category’. Notice that there are ‘niches’ that are not currently satisfied. Marketing Teacher accepts that your ‘perception’ may be slightly different to ours and hence some of the result may be slightly different.
It was decided very early on that personal selling did not suit the nature of the business. The other elements of the promotions mix were far better suited to the mass market.
A promotion was organized with a national daily newspaper that share the same target consumer. Coupons were put in seven separate issues. Once collected, the consumer would post them to www.cuttingitshort.com for a free mountain bike spanner (a product that was very slow moving anyway).
The company invested around $100,000 in a first rate public relations agent.
Direct mail was passed up in favour of an e-mail campaign to existing users promoting the recent additions to the site.
The company invested $50,000 in a special stand that used Internet technology to explain the virtues of buying www.cuttingitshort.com’s products using the Web.
A huge $2,000,000 was spent on an international campaign which used TV, Radio and poster media.
A decision was made to invest $1,000,000 on sponsoring a round-the-world yacht race.
As with all case studies, there could be many realistic answers. How did you get on.
The answers are below. How did you get on?
The Online Alternative is a new start-up that uses the Internet as an original channel of distribution to get products, brands, services or solutions, currently available elsewhere, to market. Some segments may be better targeted with this online alternative, for example remote or fragmented markets.
Online Innovators come in two forms:
Company One is a successful commercial bank with a very well-known and popular brand. It has decided to launch a new online brand which uses online technology as a channel to market its current portfolio of services – employing a new and energetic branding theme pitched at youth segments. Answer: Innovator (Existing Business).
Company Two is also a commercial bank. However its strategy is to use the Internet as a way of communicating with, and accessing its traditional segments with its existing portfolio of brands. Answer: Online Extender.
Company Three is a new business that has gained a large amount of venture capital for its innovative business idea. It is employing Web 2.0 technology to build a community of practice for African farmers that currently work in remote regions, but may soon have access to the Internet in many local towns. Answer: Online Innovator (Online Start-Up).
Company Four is also a new business. Its owners have seen an opportunity to get jewellery to consumers by building a website which employs e-commerce technologies. Essentially the site owners intend to advertise using Google Adwords based upon keywords such as ‘wedding ring’ and ‘bling.’ Hopefully the pay-per-click adverts will move traffic to their site where sales will be made. Answer: Online Alternative
An Online Extender is an existing business that has a strategy whereby it extends its marketing activities to the Internet. It could be any traditional, terrestrial organisation that has historically grown through using traditional channels of distribution to get existing products, brands, services or solutions to market.
Answers are below: McReynolds, Inc is a manufacturing company, producing electronic circuit boards.
In recent years it has generated its product primarily by the traditional manufacturing method.
(5) McReynolds plans to adjust its standard costing operations, which may result in which of the following benefits:
In the company’s inaugural year the president and founder determined that its standard costs should be based upon the ten year averages associated with the region’s market leader Nolan Industries. Nolan had recently experienced dramatic growth, aided in part by great labor relations, setting the pace in innovation, and stable material prices.
The President acknowledges that his rationale in establishing such ideal standard costs was a desire to develop a company theme of high performance goals.
McReynolds has kept copious operations and expenses records. The company is contemplating a transition to a Flexible Management System. The strategy shift was influenced by a company Cost Accounting Committee, which focused on the benefits of shifting its cost accounting methods. They were influenced by a review of the marketing department’s competitive analysis which revealed certain vulnerabilities in Nolan Industries.
While the competitive analysis highlighted Nolan’s inflexibility in chasing new market demand, the Standard Costing Committee suggested that if operations were to be revised so should its cost standards. Mc Reynolds ultimate goal is to be able to utilize machines that are adaptable to shifting product demands and to utilize more current standards.
Considering the history and current status of McReynolds Inc, how would you answer the following questions?
(1) Which of the following Standard Costing Plan development procedures are highly recommended?
(2) Which of the following companies are most likely to employ a standard costing procedure?
(3) The proposed shift in manufacturing procedures represents a change from traditional to flexible, which of the following costing method is most applicable?
(4) What were some of the erroneous aspects of the original standard costs done d by McReynolds?
Consider the Six Living Generations: If you were marketing a laptop, what would be the product offering? What would you talk to them about? How would you promote the laptop to each generation? Complete the table below, then check your answer.
|Product Offerings:||Talk To Them About:||Promotion:|
|GI Generation.||Warranty; Easy to understand Instructions, Live help from a 1-800 number.||Talk about how much the world has changed (in a positive way) and how the computer can make doing certain things easier and cheaper.||In Newspaper and with knowledgeable in-store salesperson.|
|Mature Generation.||Warranty; Easy to understand Instructions, Live help from a 1-800 number.||Talk about how they can use it to have fun, look up old classmates and see (and share) photos and video of their grandchildren.||In Newspaper and with knowledgeable in-store salesperson; also during the Nightly News.|
|Baby Boom Generation.||Use Credit to pay for it; Wi-Fi and portability.||Talk positively about how easy it is to learn to use it; also talk a lot about the Wi-Fi and portability.||TV and with knowledgeable in-store salesperson.|
|Generation X.||Use Credit to pay for it; storage capabilities are important and compatability with office/school equipment.||Talk about how they can play games, watch movies instantly; use it for career advancement and enhancing the education of their children; Use it to start up their own business or advance education; also play up the reliability of the brand name.||TV and Internet.|
|Generation Y.||"Free" Upgrades and extras; ability to create "skins" to make it a unique reflection of their personality.||Make sure you respect the knowledge they already have about the product; Unlimited access to friends, information; Use it to start up their own business or advance education; they can use it to make a contribution to their community; their ability to schedule their life; also mention the Wi-Fi and portability.||Internet.|
|Generation Z||"Free" Upgrades and extras||Make sure you respect the knowledge they already have about the product; talk about the ability to play games online, create their own videos and stay connected with friends; remember they are brand savvy, they know what they want already.||Internet and showing product being used by celebrity spokesperson that they can identify with.|
Highly Brill Leisure Center has hired you to help them with their marketing decision making.
Perform a SWOT analysis on Highly Brill Leisure Center, based upon the following issues:
As you can see Marketing Teacher’s answer does not completely agree with yours. This does not mean that you are wrong. It simply means that the results of your analysis are represented in a different way. Points 2 and 10 are difficult to place. Point 2 depends on whether or not wave machines or a whirlpool have a distinct competitive advantage over a competition standard pool. Point 10 is an internal strength and an external opportunity.
Here’s a recap before the answer (below): The CORE product is NOT the tangible, physical product. You can’t touch it. That’s because the core product is the BENEFIT of the product that makes it valuable to you. So with the car example, the benefit is convenience i.e. the ease at which you can go where you like, when you want to. Another core benefit is speed since you can travel around relatively quickly.
Here are the answers. How did you do?
Product or service or brand
Freedom to travel
A motor car
Two weeks in a resort
Budget/No Frills Airline e.g. EasyJet or Ryanair –
Gets you from A to B cheaply
An airline journey
Food bought during your flight
Chelsea Football Club
Excitement and leisure
Personalised shirts and other merchandise
Association with the best in sports
Shoes and other clothing
Nike online allows you to personalise your trainers
Hilliers’ Garden Centres
Leisure and relaxation
Goods for gardens
Hilliers’ gardening club
The ACTUAL product is the tangible, physical product. You can get some use out of it. Again with the car example, it is the vehicle that you test drive, buy and then collect.
The AUGMENTED product is the non-physical part of the product. It usually consists of lots of added value, for which you may or may not pay a premium. So when you buy a car, part of the augmented product would be the warranty, the customer service support offered by the car’s manufacture, and any after-sales service.
To apply your knowledge of Annual Report contents and recommended principles found in the Marketing Teacher, answer the following multiple choice questions: (answers at the bottom of this page)
Here’s a recap of the Product Life Cycle (PLC). It is followed by the PLC answer (below).
The need for immediate profit is not a pressure. The product is promoted to create awareness. If the product has no or few competitors, a skimming price strategy is employed. Limited numbers of product are available in few channels of distribution.
At this point there is a downturn in the market. For example more innovative products are introduced or consumer tastes have changed. There is intense price-cutting and many more products are withdrawn from the market. Profits can be improved by reducing marketing spend and cost cutting.
Here are the products plotted in the PLC. You may disagree with some of the positioning. However, the exercise demonstrates the way in which marketers would use such a tool.
Competitors are attracted into the market with very similar offerings. Products become more profitable and companies form alliances, joint ventures and take each other over. Advertising spend is high and focuses upon building brand. Market share tends to stabilise.
Those products that survive the earlier stages tend to spend longest in this phase. Sales grow at a decreasing rate and then stabilise. Producers attempt to differentiate products and brands are key to this. Price wars and intense competition occur. At this point the market reaches saturation. Producers begin to leave the market due to poor margins. Promotion becomes more widespread and use a greater variety of media.
Here’s a recap of the short case. The answers are below.
Welcome to Newtown. It sits 25 miles from Commerce Town, 10 miles away from Friesner Airport, and 35 miles away from Poshbury.
Option 3 is the preferred option, followed closely by option 1. How did you get on?
Which place would you recommend to Floor-Mart? Justify your recommendations.
Floor-Mart are considering where to put their new store. Their store will sell groceries and provisions 24 hours a day (at a premium price of course).They have three options, each one is considered below. You must recommend a place for the position of the new store.
With this overview in mind please answer the following questions (answers are below):
Taking into account the company’s history , contemplated initiatives and applicable marketing plan concepts, please answer the following questions:
1. Haversham’s initial focus on the needs and profit potential in the professional market represents which marketing plan concept?
2. Haversham’s specific identification of middle management executive in the downtown district represents which marketing plan element?
3. Based upon current consumer perceptions and behavior, which of the following entities appears to more readily meet their needs?
4. In order to better understand current consumer behavior, which of the following elements should be considered?
5. When Haversham begins to alter its curriculum, offer lower course fees and relocate, it can be said to employ which of the following marketing plan concepts?
Answers are below: Alexandra Cavanaugh, founder and CEO of Alexandra Cavanaugh Apparel is the creative genius behind a popular line of a line of pre-teen apparel and accessories such as t-shirts, sweatshirts and jeans using fabrics that are comfortable and stylish. The firm was launched three year ago and makes profit by selling to major fashion brands. However the business always had it eye on establishing its own brand and opening its own retail outlets.
(4) Based upon the available financial data, what is the ROI for Alexandra Cavanaugh’s direct mail campaign?
The company finds itself at a fork in the road where it must ratchet up sales to continue its ambitious goals or cut costs to insure survival. Recently the firm opened four retail outlets as a part of its own-brand expansion plans. The company budgeted a substantial amount to promote the new outlets and its products. The investments were made before the recent economic downturn and are now getting a close review.
The CEO is particularly focused on the firm’s expenditure in the direct marketing category. Since data on its target market show a propensity for shopping via the internet and its website produces a steady stream of subscribers – the CEO is skeptical of continued investments in direct marketing. She has challenged the marketing team to produce Return On Investment (ROI) data on direct marketing promotions. Below are data available for calculation:
Annual Profits: $103,000
Annual Direct Mail Investment: $5,150
Answer the following questions to demonstrate an understanding of Return On Investment (ROI) and how it is applies to Alexandra Cavanaugh:
(1) Why should Alexandra Cavanaugh Apparel be interested in determining whether its promotions are reaping the rewards desired?
(2) How is the ROI calculation result expressed?
(3) In addition to scrutinizing the ROI for its direct marketing campaign what other aspects of its advertising could be reviewed?
Once again, here’s a recap. A core competence is the result of a specific unique set of skills or production techniques that deliver value to the customer. Such competences give an organization access to a wide variety of markets. Hamel and Prahalad (1990) refer to a number of organizations and their products to support their concept including NEC, Honda and Canon.
Check your answers below. How did you get on?
1) Accounts receivable are current assets.
2) Yes, Accounts receivable and cash on hand total $35,000 while Taxes and accounts payable total only $27,500.
3) Land ownership represents 21% of the company’s fixed assets ($38,000)
As mentioned, a company’s origin, priorities and degree of success can be clearly gleaned by a review of It’s Balance Sheet. Not only can it reveal the past it can also highlight a prescription for suggested changes.
| Current Assets |
|Cash on Hand|
Total Current Assets
| Fixed Assets|
|Garage and Equipment|
|Other (Intangible Assets)|
Total Fixed Assets
Liabilities & Shareholder Equities
| Shareholder Equity|
Total Shareholder Equity
Total Liabilities $ shareholder Equity
Recommendations for Farley’s Irish Dream’s launch into European markets are as follows:
Sponsor well-known professional skiers, snowboarders and bobsleigh teams in order to gain some early awareness amongst prospects.
Employ a promotions agency that will visit top competitive events throughout Europe to hand out small trial bottles to prospects.
Target bars, supermarkets and hotels in the winter sports regions. Here run sales promotions and distribute free merchandise such as ski hats, point-of-sale and drip trays carrying the Farley’s brand.
Sponsor websites that carry news and information about ski resorts and their current climate. Get clients to register their e-mail address and mobile phone numbers for e-mail and text information about skiing conditions.
Begin a campaign that aligns the brand with aspiring, 25-40 year old professionals by advertising in targeted magazines.
This is the culmination of the previous three sections. Use text and e-mail to promote Farley’s to advocates, and reward them for forwarding e-mail and texts to their friends (using viral techniques). Record data on the success of campaigns by individual advocate, and continue to develop innovative and fresh ideas to keep your valuable advocates loyal.
As you can see, each of the products is positioned upon the Matrix. You’ll notice that the Javelins do not appear – they were thrown away long ago.
1. A great framework for conducting a situational analysis which takes into account economic and political factors is a part of which of the following
2. The Mystic Company’s current lack of information on customer opinions hinders its understanding of which of the following factors?
3. Mystic Company personnel most likely to be assigned to monitor and adapt to changes in the marketing environment is which of the following?
4. Which of the following approaches is most likely to result in the development of Smart Objectives?
5. Which of the following current or planned initiatives will aid Mystics formulation of its advertising tactics and decision-making?
The national and official language of the People’s Republic of China (PRC) is Mandarin Chinese (Putonghua) with 1.3 billion speakers. There are a further 200 languages in use as well as a countless number of dialects. People from differing provinces often have trouble understanding each other.
Chinese culture is influenced by the philosophical principles of key thinkers. Despite the ideological changes encountered during the Cultural Revolution and more recent market orientation, Confucianism still has a strong cultural impact upon Chinese society (Chan 1999). The culture in China strongly respects a good education and degrees and diplomas enhance a virtuous education (Oh 1991). The Chinese have a value orientation (Zhu and He 2002). Communism, materialism and Post-materialism are the three competing value orientations. The communist values see a selfless dedication to the well-being of society and mankind. The materialism values see the pursuit of immediate rewards and physical happiness. The post-materialism values see a way of life where the importance of material rewards is downplayed and there is an emphasis upon harmony between people and nature ( Inglehart, 1979). To understand the place of education in the GRC one need only to look at the expansion of education in the GCR and the increasing number of Chinese learners gaining Western qualifications. Whichever value the student subscribes to, education is highly regarded.
There are a series of cross-cultural differences between Western designed websites and Chinese developed sites (Hedberg and Brown 2002). The results of their study into visual media and cross cultural meaning holds some interesting results for websites that undergo a straight translation from English into Putonghua. For example the left edge of the page may not be the point where the student begins to read. The aesthetics of Chinese art may hold the key to web design that suits Chinese learners. The Chinese are keen gamblers and game players. Games tend to be rich in colour and appear very complicated to the Western eye, and this is reflected in the popularity of Internet gaming. The cultural understanding of colour and images could also lead to confusion in communication. For example parts of Chinese culture see people marrying in black and being buried in white. Logos and symbols associated in marketing may not carry the same impact to Chinese learners as they do with their Western counterparts. According to the Chinese Peoples Daily top Chinese brands include Hongtashan (cigarettes), Haier (household appliances) and Wuliangye (liquor).Chinese branding and images need to be considered when constructing case studies or using examples.
The National People’s Congress is the highest organ of state power in the PRC. The Government is controlling and this makes commerce very different to that in Western culture. The recent problems encountered during the SARS virus outbreak may make the Chinese government less prone to holding back information that is in the public interest. Copyright remains a huge grey area. This means that website content could be copied or reproduced without permission. Censorship still exists if one wishes to publish an educational text in China. The Asian Law Centre links to resources on Chinese law and banking and finance, competition law, commercial law and e-commerce law, amongst many other legal areas. China has its own laws on e-commerce and e-transactions, privacy and information security that need to be considered especially if an e-learning project is to collect information, collect fees or protect any intellectual property.
Filtering is a problem for Western websites. Effectively the Chinese government censors websites by blocking access from China. The Chinese government maintains an active interest in preventing users from viewing certain web content. It has managed to configure overlapping nationwide systems to effectively block such content from users who do not regularly seek to circumvent such blocking. Such blocking systems are becoming more refined (Zittrain and Edelman 2003). Blocked sites tend to fall into one of a number of categories including democracy, health, news, government, religion, Taiwan, Tibet, entertainment and education. Indeed both the Western and GCR Marketing Teacher websites suffer from filtering. They share this disability with MIT and the Learning Channel as well as almost 700 sites list in Yahoo’s education directories (Zittrain and Edelman 2003). The Chinese government does not co-operate on the issue of filtering and this makes it difficult to accurately represent the extent of this problem. Until its extent is understood, strategies for overcoming the problem cannot work. This is a huge problem for providers of free or chargeable content. One could invest time and effort in created online materials and promoting their existence only to find that your site has been filtered and that no right of appeal exists. As technology develops apace there is a sources of very up-to-date information on China and technology.
An overview of the educational system of China is offered by Surowski (1996) and includes systems for primary, secondary, higher and adult education. E-learning is one aspect of blended learning and has its own series of issues that are evaluated as follows. A simple text translation into Mandarin has a series of problems. It should be appreciated that learning is an active process and teaching materials should be variegated (Liu, Lin and Wang 2002). The activity associated with online learning is seen as a clear advantage. It is the critical engagement with the World that ensures that learning takes place (Dewey 1916). The system of education in the PRC is demanding and often begins at a young age. Learning Putonghua demands a good deal of effort as well as time consuming rote learning. Chinese culture is collectivist and often depends upon informal chains of communication. Therefore open discussion albeit in forums or web casts could see an infringement of cultural values (Can 1999). Western educators need to be sympathetic to the successful teaching strategies used by Chinese teachers, and embed them into e-learning projects. Levy (2003) explains that most learning in China takes place in classrooms. Even where technology such as television or software is used it tends to be heavily instructor lead.
Liu, Lin and Wang (2000) advocate that the individual learning styles and preferences of e-learners need to be taken into account since a simple text translation may suit some learners whilst a multimedia approach is beneficial to others. Indeed it is possible to take a deeper look into the learning styles of Chinese students. Confucian philosophy has a role in shaping Chinese thinking and learning styles (Chan 1999). So there is an opportunity to conduct leaning styles surveys (Kolb 1984, Mezirow 1991). This may give an indication of the preferred learning environment of the Chinese e-learner. Then web content can be developed to suit the preferences of a number of individuals. There is a need for further research into the learning styles of e-learners from the Greater China Region.
Chan, S. (1999), ‘The Chinese learner – a question of style,’ Education and Training, Vol 41 No. 6/7, pp. 294-304.
Friesner, T and Hart, M.C. (2004) ‘A Cultural Analysis of eLearning for China’ Electronic Journal of eLearning, Vol 2, Issue 1.
Inglehart, R. (1979) , ‘Value priorities and socio-economic change,’ Cited in Zhu, J.J.H., and He, Z. (2002), ‘Information accessibility, user sophistication, and source credibility: the impact of the Internet on value orientations in mainland China,’ The journal of computer-Mediated Communication, Vol. 7 (2).
Kolb, D.A. (1984) Experiential Learning: Experience as the source of learning and development. New Jersey: Prentice Hall.
Liu, L., Fuzong, L and Xue, W.(2003), ‘Education practice and analysing behaviour in a web-based learning environment: and exploratory study from China,’ Online Information Review, Vol. 27 No. 2, pp. 110-119.
Mezirow, J. (1991) Transformational Dimensions of Adult Learning, Jossey-Bass.
Oh, T.K. (1991), ‘Understanding managerial values and behaviour among the gang of four: South Korea, Taiwan, Singapore and Hong Kong,’ Journal of Management Development, vol 10 No. 2, pp. 46-56.
Zhu, J.J.H., and He, Z. (2002), ‘Information accessibility, user sophistication, and source credibility: the impact of the Internet on value orientations in mainland China,’ The journal of computer-Mediated Communication, Vol. 7 (2).
This exercise is based upon an adaption of Friesner and Hart (2004). It is written from a Western European perpsective. Therefore if you live in the Greater China Region your local knowledge may be more detailed and realistic than that contained in this exercise. So please take into account that it is meant as an exercise for marketing learners, rather than as a source of decsion-making information on the country of China. It is simply a case study, and nothing more
However the dialects do have a common written form and this would be a saving grace when it comes to communicating with the whole GCR. Translation of the Marketing Teacher website is an important issue and indications show that direct word-for-word translations are not adequate. Therefore any Western co-ordinators of e-learning projects need to beware the pitfall of self-referencing. From a Western perspective it would be like a Chinese website being translated into English, and as one respondent commented ‘It would be very boring.’
Hedberg and Brown (2002) comment that grammar is context specific in Chinese languages so that the student builds up a picture of the meaning of symbols as the text is being read. Hence graphics and pop ups can distract the reader and confuse the context of the communication. So catchy homepages that are intended to grab the eye can also confuse the non-Western reader and therefore have the opposite effect.
Taoism, Confucianism and Buddhism are the main religions. Care should be taken to make sure that religious beliefs are not contravened. However there may be a benefit in recognising the behaviour of Chinese e-learners. For example, one respondent pointed out that by recognising a particular religious event or festival a website could earn favour and respect.
To: Steve Bull – 1st January 2019
From: ABC Adviser
After conducting marketing research and analysing all available desk research, the following marketing plan is recommended.
To register 30 new counselling clients by December 31st 2010.
We will set-up and interactive website. The site will enable counsellors and clients to communicate over a secure connection. The consultation will guided by exactly the same regulations as a regular face-to-face meeting. The only difference if that it will take place in real-time using the internet.
Clients will be charged sixty Australian Dollars for a 30 minute consultation. For a course of twelve sessions the cost will be six hundred Australian Dollars. Payments will be made by credit card at the beginning of the consultation.
All consultations will take place over a secure Internet connection using webcams.
The new interactive service will be advertised to doctors’ surgeries via trade press. Cannon Counselling will also attend relevant exhibitions and conferences.
An interactive session with experienced and qualified counsellors.
Monitor the quantity of new client registrations on a weekly basis Record visits and revisits to the site. Check income against projections.
That’s all that is required from an outline marketing plan. Obviously, the fuller document would have a lot more detail. However, the marketing plan should be succinct and easily understood by all, as this example shows.
Yes, but the final pension is much better in comparison with other schemes, when you actually retire. [i.e. ‘yes but.’]
Why do you think the pension scheme is expensive? [i.e. ask ‘why?’]
Our pension scheme is too expensive? [i.e. restate]
I appreciate your point. However, in comparison to the pension schemes offered by our competitors, this scheme is very reasonable [i.e. contradiction]
Shall I arrange the pension for you? [i.e. ask for the business]
You like the easy monthly payments, the payment holiday if needed, the added bonus for remaining with us and not moving your pension to another provider, and the free travel clock, so shall I arrange the pension for you? [i.e. summary close ]
Would you like to pay by cash weekly or by regular monthly salary deductions?[ [i.e. alternative close.]
To communicate the long-term benefits of the change to staff by August 2019.
Application of power
Here is the ‘Pricing Strategies Matrix’ with the answers overlaid. Here are the more detailed explanations.
Here’s a reminder, Fen Side Golf Course is an internationally known Scottish golf facility. It is not just an eighteen hole world-class golf course, it has a five star hotel with 250 luxury rooms, and private leisure centre, indoor tennis courts, as well as a series of top class restaurants.
Below are a series of nine activities that add value to the Fen Side experience. Print out the value chain above and place the appropriate letter (below) onto the value chain. Here’s our suggested solution:
Answers are below: Place the following eight points onto the five forces model:
How did it go? Why not try a different lesson?
To: Doreteo Dominguez – Sales Manager.
From: Account Representative – Punta Mita Marketing Research.
Marketing research is gathered using a systematic approach. An example of one follows:
1. Define the problem. Never conduct research for things that you would ‘like’ to know. Make sure that you really ‘need’ to know something. The problem then becomes the focus of the research. For example, why are sales falling in New Zealand?
2. How will you collect the data that you will analyze to solve your problem? Do we conduct a telephone survey, or do we arrange a focus group? The methods of data collection will be discussed in more detail later.
3. Select a sampling method. Do we us a random sample, stratified sample, or cluster sample?
4. How will we analyze any data collected? What software will we use? What degree of accuracy is required?
5. Decide upon a budget and a timeframe.
6. Go back and speak to the managers or clients requesting the research. Make sure that you agree on the problem! If you gain approval, then move on to step seven. 7. Go ahead and collect the data.
8. Conduct the analysis of the data.
9. Check for errors. It is not uncommon to find errors in sampling, data collection method, or analytic mistakes.
10. Write your final report. This will contain charts, tables, and diagrams that will communicate the results of the research, and hopefully lead to a solution to your problem. Watch out for errors in interpretation.
The most appropriate marketing research method is telephone interview. Telephone interviews have the following advantages and disadvantages: Advantages can be geographically spread – so we can contact customers from Guadalajara, Mexico, and even North America. Europe is a little too expensive to contact. It can be set up and conducted relatively cheaply. We have a tele-research team set up already.
Random samples can be selected. We will purchase a database from the local tourist office and select a random sample. It is cheaper than face-to-face interviews. Disadvantages? Respondents can simply hang up. In such a case we will select another respondent from our list. Interviews tend to be a lot shorter. They interviews will be very short and succinct. Visual aids cannot be used. Although they are not really needed for this piece of research.
If the above information has been helpful, please contact me so that I can arrange for the questionnaires to be designed.
The answers are below:
(1) Boreland should employ which of the following accounting principles?
(4) True or False, generally speaking Contribution Analysis identifies overhead costs by accounting for all known fixed, direct and variable costs and then subtracting that amount from revenues.
(2) To calculate a products contribution to profits, Boreland will need to assemble which of the following data?
(3) Which of the following are potential benefits Boreland might realize as a result of employing a Contribution Analysis?
To be the cost leader in our market by 2004
To increase profitability by 20% by 2005
Return On Capital Employed (ROCE)
3. Business Processes
To lead the market in speedy delivery by 2008
Average time taken for customers to receive complete orders
To produce products that are right first time within 3 months
Statistical process control
4. Learning and growth
To build a sports and social club by March 2009
Employee satisfaction rates
To train and develop all team leaders by 2006
Employee retention rates
To reduce customer churn by 75% within 12 months
Customer retention rates
To achieve 99% customer satisfaction within 5 years
Customer feedback or complaints
Here’s a recap: If a marketer can identify consumer buyer behaviour, he or she will be in a better position to target products and services at them. Buyer behaviour is focused upon the needs of individuals, groups and organisations.
It is important to understand the relevance of human needs to buyer behaviour (remember, marketing is about satisfying needs).
Describe the Buying Decision Process for a mobile/smartphone. Fit your description around the five stages that follow:
As you can see there are many strategic options for Ricardo. As a marketer you now have to decide upon which strategy or strategies the company should actually implement. This is based upon a number of factors such as competitive activity, available resources, the good old ‘gut feeling’, and others. Marketing Teacher looks at these themes in further lessons in our Lessonstore.
Transport e.g. cars
Before and after
Free phone numbers
$10,001 – $15,000
$15,001 – $20,000
$35,000 – $50,000
$50,001 – $75,000
$75,001 – $100,000
Here are the answers (see the cash flow statement below):
Beginning Cash Balance
Accts. Rec. Collections
Loans on proceeds
Sales & receipts
Total Cash Inflows
Available Cash Balance
Cash Outflows (Expenses):
Bank Service Charges
Credit Card Fees
Rent and Leases
Subscriptions and Dues
Taxes and Licenses
Utilities and Telephone
Other Cash Out Flows:
Total Cash Outflows
Ending Cash Balance
A – This SBU is one of the biggest and oldest brands of lens photographical lenses in the World. It used to be the biggest supplier of lenses to both professional and amateur photographers, before the growth and current dominance of digital cameras. It needs to invest in a change programme that will downsize its business and give it a new and rejuvenated strategic direction.
Ans: Favourable/Mature – This SBU operates in a niche or narrow segment. It should target and defend educational sectors within its traditional markets.
E – This SBU manufactures and promotes the World’s most well know lenses brand. This designer lens is marketed through retails outlets throughout the World and tends to command a premium price not only for precision but also through its association with fashion and celebrity.
Ans: Strong/Embryonic – Embryonic since it is based upon fashion which tends to have short Product Life Cycles (PLC), and so industries are never mature and always rejuvenating.
Ans: Weak/Aging – Manage for change if the brand can be rejuvenated, or with draw.
B – This SBU manufactures high technology lasers that are used in the manufacture of specialist components for the production of aircraft. It has a number of unique patents as well as a 10 year contract with the World’s largest aircraft manufacturer.
Ans: Dominant/Growth – Act offensively and grow business. Be prepared to defend your position from competitors with rival solutions.
C – This SBU is photocopier manufacturer that is currently under increasing attack from budget priced competitors that offer a very similar product and service package with a no frills brand. The SBU is finding it difficult to hold on to market share.
Ans: Tenable/Mature – Try to recapture market share, but may ultimately be doomed so withdrawal may be necessary sooner rather than later.
D – This SBU markets high quality optical equipment for use in laboratories, mainly in schools in Europe and the United States.
Answers are below: Sterling Patterson Insurance is a three year old firm engaged selling health insurance in the United States. They specialize in providing Long Term Health Insurance Policies.
The company has set forth a strong expansion strategy which includes a low budget marketing plan. Sterling Patterson sees an opportunity to enter the international market for health insurance. Its strategy includes developing an affiliate program to recruit local agents. The Company’s health insurance marketing efforts will focus on those in upper socioeconomic classes with a proven ability to pay.
(4) Which of the following companies may be most likely required to provide more detailed financial information in the form of annual accounts?
Six months from its planned launch in Europe and Asia, Sterling Patterson has realized that it has insufficient knowledge of accounting implications associated with complying with various international regulations. In addition to having a fine marketing plan, Sterling Patterson now realizes it must prepare a path through a maze of various accounting guidelines.
It was most recently determined that the company would increase accounting staff expertise and capabilities in order to avoid potential catastrophes such as failing to meet financial deadlines. It will submit the required annual accounts needed for participation in diverse international markets. Sterling Patterson understands the risk that such failures to disclose might jeopardize potential relationships and investments.
Demonstrate your understanding of annual accounts and how they might impact Sterlings planned expansion, by answering the following questions:
(1) How does information in the annual accounts differ from a basic annual report?
(2) Which of the following is not a governmental entity regulating the content of annual accounts?
(3) What are reasons why more notes, explanations and disclosures might be necessary when doing business in international markets?
Answers are below:
Once again, here’s a to recap of the various options from Bowman’s Strategy Clock. The exercise is at the bottom of this page.
How did you get on? Bowman’s Strategy Clock is a useful tool for deciding upon corporate strategy.
(a)without a price premium:
(b)with a price premium:
The answers are below: Jumpys is a neighborhood restaurant famous for its jolting coffee. Named for its owner Jumpy Johnson, the restaurant specializes in a breakfast menu – that has many loyal fans among the locals. But every since Jumpys neon dancing coffee cup sign went up, cheap MLB jerseys the owner has wanted to expand in an even Star bigger way.
1. (d) Identify good candidates for financial assistance
3. False (1.88:1)
4. False (0.15 or 15%)
Jumpys is located in a region that holds a round of championship events at the same time every year. Johnson noticed wholesale NBA jerseys that increased promotions during those events brought a tremendous influx of new Nazis, customers to the advertisers. He is convinced that once those new customers visit Jumpys, they will be captured forever.
In prior years Johnson has not been prepared financially to capitalize on the event, but cheap nfl jerseys recently he has been working closely with his accountant to monitor the restaurants wholesale nba jerseys financial cheap NBA jerseys health with the idea of seeking a loan. His accountant has provided the following summary of pertinent company financial information:
Current Emeli Assets: $32,000
Current Liabilities: $14,000
Net Profit: $15,000
Net Sales: $100,000
Net Worth: $34,000
Total Debt: $18,000
Recommendations for Banana’s branding strategy:
Of on course there are many alternatives that you could create and cheap nfl jerseys suggest. However, the Banana example gives you an idea of how Tauber’s Four Banding Alternatives could be used to design a branding strategy.