MAR3023 MIDTERM EXAM QUESTIONS WITH COMPLETE
SOLUTIONS 100% GUARANTEED PASS
Strategic focus
Firm established performance objective for its target market must decide where to
allocate resources.
Means/ends tree to outline, assess, and improve ROI (return of investment)
A marketing strategy in which a company concentrates its resources on entering or
expanding in a narrow market or industry segment.
Skim pricing
A product pricing strategy by which a firm charges the highest initial price that
customers will pay. As the demand of the first customers is satisfied, the firm lowers the
price to attract another, more price-sensitive segment.
Penetration pricing
A pricing strategy that sets a low initial price for a product. The goal is to quickly attract
new customers based on the low cost. The strategy is most effective for increasing
marketshare and sales volume while discouraging competition.
Broad option strategies of imitation and leapfrogging
Imitation: Copying the leader but being more effective in execution.
Leapfrogging: Goes one better than the leader
Harvesting
, The firm seeks short term cash flow at the expense of sales and market share.
When the revenue made by additional investment would not overcome the expense, all
marketing investment in a particular business line is reduced or eliminated, as sales
revenue falls below a cutoff point.
Divest
Selling a business to another firm.
Six marketing imperatives
1. Determine and recommend markets to address. 2. Identify and target market
segments
3. Set strategic direction and positioning
4. Design the market offer
5. Secure support from other functions
6. Monitor and control execution and performance
Four principles that are fundamental to successful marketing execution (i.e.
Differential Advantage, etc.)
1. Selectivity & concentration
2. Customer value
3. Differential advantage
4.Integration
Original four Ps of marketing formulation
Product
Place
SOLUTIONS 100% GUARANTEED PASS
Strategic focus
Firm established performance objective for its target market must decide where to
allocate resources.
Means/ends tree to outline, assess, and improve ROI (return of investment)
A marketing strategy in which a company concentrates its resources on entering or
expanding in a narrow market or industry segment.
Skim pricing
A product pricing strategy by which a firm charges the highest initial price that
customers will pay. As the demand of the first customers is satisfied, the firm lowers the
price to attract another, more price-sensitive segment.
Penetration pricing
A pricing strategy that sets a low initial price for a product. The goal is to quickly attract
new customers based on the low cost. The strategy is most effective for increasing
marketshare and sales volume while discouraging competition.
Broad option strategies of imitation and leapfrogging
Imitation: Copying the leader but being more effective in execution.
Leapfrogging: Goes one better than the leader
Harvesting
, The firm seeks short term cash flow at the expense of sales and market share.
When the revenue made by additional investment would not overcome the expense, all
marketing investment in a particular business line is reduced or eliminated, as sales
revenue falls below a cutoff point.
Divest
Selling a business to another firm.
Six marketing imperatives
1. Determine and recommend markets to address. 2. Identify and target market
segments
3. Set strategic direction and positioning
4. Design the market offer
5. Secure support from other functions
6. Monitor and control execution and performance
Four principles that are fundamental to successful marketing execution (i.e.
Differential Advantage, etc.)
1. Selectivity & concentration
2. Customer value
3. Differential advantage
4.Integration
Original four Ps of marketing formulation
Product
Place
