Marketing Management
Topic No. 3
Discuss which brands do you feel successfully target the group “Generation Y”. Which brands do not? What could they do better?
Generation Y also known as the echo boomers or the millennium generation are considered to be the new type of clients that 21st century companies should be given attention. With the growth of the Generation Y composed of teens and college students of this generation. They are defined as the linear extension of the market trends noted for the Generation X (2008). It has been noted that Generation Y are known to be highly marketing-savvy group which understands how various industries actively covert their business operations. The brands that targeted Generation Y include cell phone or mobile phone brands such as Nokia, Sony Ericsson, Samsung, I-Phone and other mobile phone brands, computer brands including laptops such as Mac, Dell, Apple, IBM and others, automobile brands like Toyota and sports brands like Nike and Adidas and other high technology brands and gadgets. These brands have been able to effectively target generation Y groups. On one hand, the brands that do not successfully meet the needs of this generation Y include banking industries or financial industries. In order to do better in the marketing arena, these brands should be able to establish their brands well and innovate their products and services to meet the needs of this generation Y market. In the competitive market environment, connecting with the target market is getting more complicated for different industries (2003). Accordingly, it takes an effective management and approaches to win over the skeptical target market which suggest that it is the moment to forget everything that has been learned regarding marketing and branding ( 2003). It is mentioned that it is the target market that is in control of improving the power of branding. In this regard, it is not the company who brand their target market, but the clients are the one which brands the company and their products and services offered.
Topic No. 5
Discuss what is meant by the lifetime value of the customer and customer relationship management (CRM). Using examples, what changes do organisations need to make if they totally embraced the concept of lifetime value of customers.
Good customer relationship is among the top priorities of current marketing approaches of businesses and organizations. Within the marketing, organizations must consider how individual customer needs can be provided so as to provide high levels of customer satisfaction to gain good customer relationship. Furthermore, organizations must be able to identify their specific customer groups clearly. The marketing concept has been able to produce different terms and contexts and this include customer lifetime value. Customer lifetime value is a measurement used to determine how a company can provide greater attention on customer services and long-term customer satisfaction, than giving attention on short-term sales.
Customer relationship management, better known as CRM, is a set of strategic practices that purports finding, marketing to, selling to and servicing customers. CRM is a broadly used term that covers different functions and concepts of organisations in aspects of operational, collaborative and analytical frameworks. There are many benefits the company could derive upon implementation of CRM systems. These benefits are: customers, suppliers and co-suppliers linkage, access, hassle-free communication, and reduction of implementation cycles, centralised and regularised systems upgrade, centralisation of maintenance and enhancement expertise and homogenisation of CRM technology ( 2001).
In order to totally embrace the context of customer lifetime value, the company should consider an organizational change of having a new customer relationship management approach and the management should also establish a new department who will be responsible for computing the customer lifetime value.
Topic No. 7
When it comes to buying decision process, what are the differences between consumer buying behaviour and that of business-to-business? Why is it important for a marketing manager to know the difference? Discuss using examples.
Customers are said to be loyal when their buying behavior remains consistent to one type of item and completely ignore the pleas of competitors. Indeed, it is a known fact that customer loyalty is beneficial to businesses (2000).
Customer buying behavior is yet another factor that affects consumer choices and trends. Recognizing consumer behavior’s essentiality to business, marketers attempt to develop means on assessing or measuring how a customer behaves ( 2000). Consumer buying behaviour is said to be different in business-to-business context in a way that consumer buying behaviour tends to have varying attitudes regarding the needs and purpose of buying while the business-to-business approach is an approach which is more on supplier-company relationship. Business to business is one of the categories of e-commerce that has been characterized as profit-oriented whose aims is to obtain information and retain information that uses different type of motivation in which it has a shorter route of channel in terms of distribution. In B2B it seeks to realize transactions that necessitate performed financial and commercial activities via the internet while in consumer buying behaviour in tends to follow their desires based on customer self-need. For instance, in buying new sports shores, the individual customer tends to follow their personal attributions than the business attributions.
Topic No. 8
“The notion of market segmentation is very important and is in fact marketing’s contribution to business management”.
Do you agree or disagree with the statement above?
Formulate your answer around, though not necessarily limited to the following issues:
• The definition of segmentation.
• The underlying assumptions of segmentation.
• The criteria for effective segmentation.
• The notion of mega-marketing.
Support your arguments using examples, include…more
Topic No. 10
Using the Product Life Cycle concept, do you feel brands have finite lives?
Discuss some of special categories of product life cycles.
Topic No. 12
Discuss the different means of differentiating products and services.
Which ones do you think have the greatest impact on consumer choices?
In your answer, use examples of certain brands that rate highly on a number of these different means of differentiation.
Topic No. 13
Is service marketing different from product marketing. Discuss using examples.
Topic No. 15 & 16
A job description of a Marketing Director is shown below:
“A cornerstone position with Disney Land Merchandise, as Marketing Director you will be responsible for the development and implementation of publicity, advertising campaigns and distribution of Disney Toys. With full responsibility for the strategic positioning, public relations, advertising campaign and distribution, the role is critical to the successful launch and profitability of Disney Toys in Hong Kong”.
Topic No. 17
What are some of the Public and Ethical issues in Direct Marketing?
Using examples, how are marketing databases used by consumer products marketers?
Topic No. 19
a. Discuss some of the key issues facing retailers in Hong Kong.
b. Discuss the opportunities and risks of major brand Manufacturers providing and selling private label products.
Topic No. 18
Discuss the key retail e-commerce lessons for businesses in the Asia-Pacific region.
What are the main differences between pure-click companies and Brick-and-click companies?
Credit:ivythesis.typepad.com
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