MARKETING EXERCISES 2

SWOT ANALYSIS

A SWOT analysis is used to conduct a general and quick examination of a firm’s current status so it can identify its position in the market and likely directions for the future. It involves looking at the internal strengths and weaknesses (punti di forza ed elementi di debolezza) of a business and the external opportunities and threats (opportunità e minacce). The analysis is usually laid out in 4 boxes as shown, under the four headings.

I/E / Strengths
Opportunities / Weaknesses
Threats
A competitor has a new, innovative product or service.
A developing market such as the Internet.
A new competitor in your home market.
A new international market.
Any other aspect of your business that adds value to your product or service.
Competitors have superior access to channels of distribution.
Damaged reputation.
Lack of marketing expertise.
Location of your business.
Mergers, joint ventures or strategic alliances.
Moving into new market segments that offer improved profits.
Poor quality goods or services.
Price wars with competitors.
Quality processes and procedures.
Taxation is introduced on your product or service.
Undifferentiated products or services (i.e. in relation to your competitors).

MARKETING RESEARCH

  1. Fill in the gaps using the following words:

Collecting opportunities customer findings performance function

"Marketing research is the ______that links the consumer,______, and public to the marketer through information - information used to identify and define marketing ______and problems; generate, refine, and evaluate marketing actions; monitor marketing______; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the methods for ______information, manages and implements the data collection process, analyzes, and communicates the ______and their implications."

American Marketing association - Official Definition of Marketing Research

  1. Put the following steps of marketing research in the right order

Collecting and analysing data
Formulate findings
Establishing the research design
Defining the research problem
  1. Brochure Requests

This was found out by customer questionnaires. It will help to find out the most effective places and publications to promote a hotel. Work out the percentages of all items:

Website / 103
Recommended / 59
Don’t know / 55
M&S Magazine / 33
Been before / 30
Local / 21
Internet / 20
Good Housekeeping / 15
Financial Times / 18
Other / 30
  1. Underline secondary data:

press,government statistics,asking people to say where they found out about the hotel,specialist publications,casual research (eg competitor analysis),BTA/English Tourist Board data/research, customer questionnaires in rooms,internet, local authorities

MARKET SEGMENTATION AND TARGETING

  1. Write the definition of MARKET SEGMENTATION:
  1. After having segmented a market in different segments, how do companies usually target a particular segment?
  1. True & False

Marketing is getting the right product to the right person / TRUE / FALSE
Segmentation is when you then target one or more groups of customers / TRUE / FALSE
Age is a way of segmenting your market / TRUE / FALSE
Middle managers, accountants, teachers, lawyers, doctors are a possible segmentation of your market / TRUE / FALSE
  1. Geographical segmentation

Divide into significant geographical units your:

  • Region (Tuscany):
  • Province (Florence):

9. Musical taste segmentation

10. Make your own segmentation

Segmentation is not just about making segments by customers' ages or income. It can, and is often, based on other factors such as:
Where people live
Gender
Social group
Lifestyle

Referring these factors to the following subjects, define:

a student from Florence,
a lawyer from New York,
a mother of three children from Paris,

MARKETING MIX

  1. skim pricing or premium pricing: what are we talking about?
  1. What pricing is used forfast moving consumable goods (fmcg's)
  1. What is a voucher scheme? Search on the Internet
  1. Fill in the gaps
  • Although marketing is consumer-orientated, the main aim is still to be ______
  • A good marketing manager will try to ______ their product (ie make their product stand out against similar competitive brands).
  • Whatever pricing decision is made, the most important factor is to ______
  • Making it as easy as possible for the customer to buy the product will help ______
  1. Robert Lauterborn (Lauterborn, R. 1990) claims that each of these variables should also be seen from a consumer's perspective. This transformation is accomplished by convertingthe 4P’s in the 4C’s. Match P’s and C’s correctly

THE FOUR P’s / THE FOUR C’s
Product / Communication
Price / Convenience
Promotion / Customer solution
Place / Cost to customer
  1. Glossary– Complete the glossary with the Italian corresponding words

Ciclo di vita del prodotto, Confezionamento , Consapevolezza, Schiettezza-chiarezza ,

Posizionamento, Pubblicità, Ricavi delle vendite, Lancio

English / Italian
product life cycle
Launch
Positioningthe way a product, service or company is advertised in a particular part of the market so that it appears different from others; the way that people think about a product, service or company:
sales revenue
Awareness
Packaging
Advertising
Directness
  1. PRODUCT Life Cycle

Comment on the following diagram

  1. Cross-out the correct stage reference

Products become more profitable
(Introduction – Growth – Maturity – Decline – Withdrawal

it is important to heavily promote
(Introduction – Growth – Maturity – Decline – Withdrawal

At this point there is a downturn in the market
(Introduction – Growth – Maturity – Decline – Withdrawal

Marketers may also put added value onto their product
(Introduction – Growth – Maturity – Decline – Withdrawal

  1. What was the best graded answer and why in response to the Examiner’s Product Lifecycle question?

PRICE

  1. The following equality is a supply function for a certain product

quantity = price2

Complete the table below and draw the supply diagram

Quantity / Price
10
20

maximum quantity at seller's disposal = 100

  1. Match the methods of pricing with their definitions:

Ways to price a product / Definition of pricing methods
Economy Pricing / The price charged for products and services is set artificially low in order to gain market share
Premium Pricing / The cost of marketing and manufacture are kept at a minimum
Price Skimming / Use a high price where there is a uniqueness about the product or service
Penetration Pricing / Charge a high price because you have a substantial competitive advantage

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