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Marketing Memos[1]

Marketing Memos[1]

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Published by Jagadish Prasad
this is information about philip kotler marketing management tricky questions and my answer to it
this is information about philip kotler marketing management tricky questions and my answer to it

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Published by: Jagadish Prasad on Aug 11, 2009
Copyright:Attribution Non-commercial


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marketing memos  philip kotler  analysed by jagadish Q) how can company spot and chose the right market segments ? Ans) the company can chose the right market segments based upon a) vision and mission of the company b) product pricing of the companyc) population index of the country Q)how can we differentiate one offering to another offering ? Ans) we can differentiate one offering to another offering by going with a) product, place , price, promotion offering b) marketing channels differentiation of products to be sold by companiesc) geographic, demographic, psychographic differentiation between products Q) how should we respond to customers who buy on price ? Ans) when customers buy products based on price , it should be responded through a) combos to be sold by respective companies b) CSOP (customer stock option plan)c) market space differentiation between company websites Q) how can company compete against lower cost, lower price competitors ? Ans) a company can compete against lower cost or lower price competitors by a) setting up kiosk cum company outlets b) focus, differentiation between competitors by attacking both strengths and weaknessesc) going with complementors promoting each other product under 4c combosd) producing a new product against existing lower price product till competitors productgets eliminated out from the market Q) how far can we go in customizing our offering for each customer ? Ans) customizing offering for each customer should not be done because a) huge database can be generated only group wise
 b) each customer has different pay scale which cannot be judged by companyc) family to family choices are differenton the other hand offerings to customers should be done through a) focus group, opinion leaders b) geographical wise ,c) demographic wised) retail store wise Q) how can companies grow its business ? Ans) companies can grow business through different ways, it is through a) mergers, acquisitions b) franchisesc) setting up company outletsd) setting up company websitese) creating quality company brandf) good relationship with supply chain managementg) stakeholders being satisfied through ERP sales report Q) how can company build stronger brands ? Ans) the company can build stronger brands by studying a) history of brand report over the period of 6 months b) by studying the mode of marketing channelsc) by studying the effects of 4c concept and its implications on brand imaged) by making a comparative analysis by industry segment wise through common ERPground Q) how can company reduce the cost of customer acquisition ? Ans) customer acquisition : it is defined as acquiring product, services from a companyhow to reduce the cost of this customer acquisition a) company outlets in towns (how many towns , cities are their in a country) b) video conferencing with stakeholdersc) google chat with key partnersd) ERP in retail organised sector industry wise Q) how can we keep our customers loyal for longer ? 
Ans) customers can be kept loyal by companies through a) customer stock option plan b) industry site visitsc) free gifts,combos, bonazas on occassionsd) cost leadership , focus, differentiation (innovations)e) psychographic segmentation (attitudes known through focus groups) how to check out focus groups focus groups are defined as groups that have similar taste budsthese focus groups can be known through census (house rent determines salary earned) how would they give opiniondata through ERP from organised retail stores--debit card purchases over a period of onemonth one month is the normal overall expenditure of a family Q) how can we tell which customers are more important ? Ans) we can tell which customers are more important by a) checking out the repeat purchasers through ERP in organised retail store b) checking out who are the customers who go for repeated CSOP (customer stock option plan)c) customers in B2B who insist on quality and service rather than quantity salesd) customers who purchase under combos Q) how can company measure the payback from advertising, sales promotion, and publicrelations ? Ans) the company can measure payback from advertising, sales promotion and publicrelationsthis means these are communication channels now how to measure communicationchannels it is like measuring goodwill of the company 2) goodwill calculation goodwill percentage =

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