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Marketing questions I must consider before my exam, potentially in a blog post format


 

1.              Tom Peters has suggested that the challenge for every organisation is to always view every element of every operation “through the customer lens”. Interpret this prescription by applying it to an organisation, operating in the domestic environment, which is considering international expansion, specifically identifying the differences that might exist between the two target groups of customer.

 

 

 

2.    It is often held that organizations suffering from ‘marketing myopia’ will be unable to create sustainable advantage over their competitors in the eyes of their customers. Define the term marketing myopia, & discuss the merits of developing competitive advantage that is sustainable.

 

3.    Theodore Levitt has recommended that all organisations should define themselves as customer-satisfying services rather than goods-producing processes. Explain to the management in an organisation that makes physical goods how the SERVQUAL model (& its five dimensions) can help in serving their customers.

 

 

4.    Some customers buy branded goods because the price confers prestige on the owner. Consider whether branded goods have to be expensive to be successful, & indicate the broader benefits that a brand identity offers to both buyers & sellers.

 

 

5.    Theodore Levitt has argued that businesses should see themselves as offering a customer-satisfying service rather than a goods-producing process. Evaluate why this prescription has become increasingly important as a response to the globalisation of markets & products.

 

6.    Schemes to encourage customer loyalty are widespread in many sectors & countries. Some offer incentives to further purchases of the same product, whilst others provide cashback towards products as diverse as a mortgage or even a car. Discuss how these schemes relate to the stages in the consumer decision process, & comment on the finding that many customers fail to redeem their benefits, whilst others prefer to save towards a significant item.

 

7.    Some commentators argue that organisations wishing to devise effective marketing strategies should focus on the customer’s four ‘Cs’ (customer needs & wants, costs to the customer, convenience, & communication) rather than the four ‘Ps’ of the marketing mix. Critically evaluate this argument.

 

8.    Marketing is as relevant for the police force as it is for McDonalds. Discuss the potential benefits & drawbacks of this view that a marketing exchange is equally appropriate for two apparently dissimilar service activities.

 

 

 

9.    In an article entitled "Mining the market niches" Business Life reported "if you are a 35 year-old tightrope walker who rides a Vespa (motorcycle) & goes water-skiing twice a month, there is probably an insurance policy & pension designed just for you". Discuss the marketing principle that is encapsulated in this report, explaining the benefits that are gained by both parties to the exchange process, & comment on the possible promotional mix elements in a strategy to communicate with such customers.

 

 

10.                       It is often argued that any change in the external marketing environment represents a threat to existing providers & an opportunity to both existing & new providers. Analyse this argument in the context of the means of creating sustainable competitive advantage, illustrating with relevant examples.

 

 

11.                       During the 1980s & early 1990s, the watchword in branch banking was efficiency. Many banks strove to centralise back-office processes & optimise staff levels. With the benefits of greater efficiency now largely captured, many banks now focus on maximising effectiveness. In the context of service delivery, discuss the concepts of ‘efficiency’ & ‘effectiveness’ & explain whether one is more important than the other.

 

 

12.                     Whilst many suppliers seek global mass production, many consumers want goods & services tailored to meet their individual specifications. Discuss the apparent tensions between the need for economies of scale & the overall goal of customer satisfaction, indicating how organizations can apply marketing concepts internationally, & providing appropriate examples.

 

 

13.                     Organisations are increasingly encouraged to create value ‘with customers’ rather than ‘for customers’. Discuss the merits of this proposition, indicating how it may be achieved by looking through the customer lens.

 

 

14.                       Some commentators argue that an organisation’s marketing database is at the heart of competitive advantage because it should capture information about all prospective customers. Consider whether you agree with this statement, justifying your opinion with examples of the information that can deliver a sustainable relationship.

 

 

15.                     Many organisations focus on achieving an individual transaction with a potential customer. Write a memo to your staff indicating the merits of an extended relationship with customers, and your staff’s own role in achieving this.

 

 

16.                       It has been stated,  “because the perception of service quality is quite fragile it is important to hire intelligently, train intensively, monitor incessantly, & reward inspirationally”. Interpret this statement using relevant marketing concepts that may address these issues, and illustrating your answer with appropriate examples.

 

 

 

 

17.                       Many organisations fail to appreciate the level of adaptation that may be required when they consider taking their existing offerings to an overseas market. Discuss the challenges of international marketing, identifying a process to evaluate market opportunities and illustrating your answer with relevant examples.

 

 

18.                       The high failure rate in new product development encourages many organisations to attempt only minor modifications to existing products, which in turn provides the stimulus for new entrants with more innovative solutions. Comment on this view of the creative process, from the perspective of both existing providers and new entrants, illustrating your answer with appropriate examples.

 

 

19.                     “In an ever changing world there can be few competitive advantages that are sustainable in the  longterm”. Evaluate this statement using concepts introduced in the module including the marketing  model which underpins the Study Guides, providing appropriate illustrations.

 

 

20.                     Historically it is has been argued that financial services providers poorly understand the benefits of branding their products. To help them address this opportunity, explain the benefits of branding to both seller & buyer. Consider whether it might be more difficult when many consumers see financial services as only intermediate instruments to obtain the desired end product,  for example a home, or car.

 

 

21.                       Consider why so many organisations have historically standardised their marketing mix in overseas markets, commenting on why such an approach is no longer valid. Illustrate you answer with appropriate examples that demonstrate a framework that could be adopted by a company planning to expand overseas.

 

 

22.                       A marketing consultant recently commented "Retail banks, more than most commercial organisations, need to be aware of the difference between transaction marketing & relationship marketing". Discuss this statement clearly identifying why the difference is particularly important to the retail banking industry in the face of increasing competition for the predictable lifetime purchases of customers.

 

 

23.                       It is sometimes argued that the concept of the buying unit is only applicable to decisions made by organisations. Discuss the merits of a buying unit, & consider whether the concept might have broader relevance in marketing,

 

 

24.                     One of the major difficulties for customers evaluating the potential purchase of a service is to know what will be delivered. Consider how a strong brand could provide a ‘service guarantee’ to overcome this problem, clearly establishing how this benefits both supplier & buyer.

 

 

25.                       Technology watchers describe the Internet as being able to supply the “market of one”, & point to the growing number of sites that bring together services to fulfill the customer’s precise needs. Consider the merits & drawbacks of the ultimate market segment of a single consumer, explaining how you believe the Internet might help this to be achieved.

 

 

26.                       “Success in retail banking is partly a matter of managing distribution channels. Banks must provide channels that both accommodate customer needs & address the unfavourable economics of the mainstay branch system. Given the proliferation of channels, this may prove a daunting task.” Discuss this viewpoint by referring to the concepts of efficiency & effectiveness, illustrating your answer with relevant examples.

 

 

27.                       Christopher has proposed that organizations should have the objective of “turning new customers into regularly purchasing clients, and then to progressively move them through being strong supporters of the company and its products, to finally being active and vocal advocates for the company”. Review this statement indicating, with examples, how the prescription may be achieved.

 

 

28.                       “A post-experience student was heard to comment that competitive advantage can be achieved by asking only five key questions about the customer – who, what, where, when & how?” Critically evaluate this comment, modifying the statement if necessary.

 

 

29.                     Many commentators have argued that the electronic economy presents a major threat to established suppliers. Discuss the basis for this view, specifically explaining how the strong existing brand of a traditional supplier could help. Use appropriate examples to illustrate your answer.

 

30.                     A marketing database that captures information about all prospective customers is at the heart of organisational success. Consider whether you agree with this statement, justifying your opinion with evidence of how a database can deliver a sustainable relationship.

 

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Posted by Kamal Mugahid 

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