Summary: 1Zeua0 New Product Marketing

Read the summary and the most important questions on 1ZEUA0 New product marketing

• L1: What is Marketing? - Customer Centricity (CHAPTER 1)

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• Explain the modern marketing concept

  Can be expressed as the achievement of corporate goals through meeting and exceeding customer needs better than competitors

• L4: Segmentation, targeting, and positioning (CHAPTER 5).

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• What are the following market segmentations representing

  A: Homogeneous preferences segmentation
  B: Diffused preferences segmentation
  C: Clustered preferences segmentation

• Market segmentation is useful for (Book chapter 5, Pdf page 220 : market segmentation):Introducing different price categories for different customers that do not want or are not willing to pay the same price for a service or product.Serve customers with similar requirements effectively.Succesfully satisfying different customers’ needs that have similar characteristics.All of the above

  All of the above

• L8: P. of Promotion (NR): CHAPTER 10

• What is Integrated Marketing Communication (lecture 8, sheet 10)?The integration and coordination of many communication channels to deliver a clear, consistent, and compelling message about the firm and its products.The integration of communication between suppliers and customers to identify their needs.Integrating marketing throughout the organization.Creating a better sales impact through communication.

  1. The integration and coordination of many communication channels to deliver a clear, consistent, and compelling message about the firm and its products.
     

• Fill in the globes for the determination of the promotional mix (Lecture 8, sheet 14).A) Exhibitions, ambush marketing, product placement, product segmentation and event sponsorships.B) Price, promotion, product, place, participation and peopleC) Advertising, personal selling, public relations, internet and online marketing and direct marketingD) Strategy, mission, vision, strenghts and weaknesses.

  C) Advertising, personal selling, public relations, internet and online marketing and direct marketing.

• Which message decisions would you take to enhance Microsoft’s position in the smartphone market with its Lumia smartphones (Chapter 10, page 437: Message decisions pdf)?Use television as advertising platform and use Microsoft’s greatestachievements as advertising message.Use Microsoft’s good reputation as advertising message and use Microsoft’s logo to  make the message confident (recognisable).Use conflict advertising as advertising platform and use their knowledge as advertising message.Use as media vehicle Magazines and use as media class “Smartphone insider”.

  Advertising Message: microsoft's good reputation
  Advertising platform: logo, colors etc.

• Why is Search Engine Optimization (SEO) the best way of showing importance of content.SEO permits you to bring structure to your website to be found by customers (Chapter 12, Page 526).SEO uses High Text Marketing Lifter (HTML) to achieve marketing value.Spiders of Search Engines provide customers with price comparisons and therefore SEO will deal with adequately pricing.SEO will provide you with the content to analyze your business’ position.

  SEO permits you to bring structure to your website to be found by customers

• L9: P. of Price

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• Why would a change in Price affect other aspects of the Marketing Mix?

  Because if there's a change in the P. of price because of the population (wealth) you need to be adequately situated (place) according to your population (person).

• What is the scope of price in the marketing mix

  - Price structures: saas, contracts, one lifetime payment, etc.
  
  - Discount structures: after 2 months 20% discount, before 2 days of end dates 30% discount (AH). 
  
  - Payment conditions: 30% before project, 20% during project, 50% after project.
  
  - Financing: is it possible to finance products (cars, houses)?

• How are price objectives defined

  Price objectives comes from marketing objetives and marketing objectives from organizational objectives. This is a top down approach.