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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 company
c) 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 companies
c) 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 weaknesses
c) going with complementors promoting each other product under 4c combos
d) producing a new product against existing lower price product till competitors product
gets 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 company
c) family to family choices are different

on the other hand offerings to customers should be done through

a) focus group, opinion leaders


b) geographical wise ,
c) demographic wise
d) 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) franchises
c) setting up company outlets
d) setting up company websites
e) creating quality company brand
f) good relationship with supply chain management
g) 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 channels
c) by studying the effects of 4c concept and its implications on brand image
d) by making a comparative analysis by industry segment wise through common ERP
ground

Q) how can company reduce the cost of customer acquisition ?

Ans) customer acquisition : it is defined as acquiring product, services from a company

how 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 stakeholders
c) google chat with key partners
d) 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 visits
c) free gifts,combos, bonazas on occassions
d) 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 buds

these focus groups can be known through census (house rent determines salary earned)

how would they give opinion

data through ERP from organised retail stores--debit card purchases over a period of one
month

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 sales
d) customers who purchase under combos

Q) how can company measure the payback from advertising, sales promotion, and public
relations ?

Ans) the company can measure payback from advertising, sales promotion and public
relations

this means these are communication channels now how to measure communication
channels

it is like measuring goodwill of the company

2) goodwill calculation

goodwill percentage =
total cash increase or decrease in comparison to previous quarterly in previous year
-----------------------------------------------------------------------------------------------------------
-------
by share price increase or decrease compared to previous quarterly in previous year

to be checked again through discussion

now how to calculate it individually

cash increase or decrease individually

1) cash increase decrease in advertising


2) cash increase decrease in sales promotion
3) cash increase decrease in public relations

individual amounts

to be checked out not sure later on analysis

Q) how can company improve sales force productivity ?

Ans) companies can improve sales force productivitiy through ways like

a) ERP (Enterprise Resource planning)


b) management books (new/old tips from different companies information)
c) in house training (situation based analysis)

Q) how can we establish multiple channels and yet manage channel conflict ?

Ans) channel conflict is defined as conflict arising between departments in a company

how to manage channel conflict they are

a) set up a advisory board to monitor daily routine of inter departmental problems


b) set up a drop box problems and checked out as per importance monitored by board of
directors
c) problems of inter departmental to be solved through intenet ERP within 24 hours
otherwise problem is passed out to higher authority if not solved within the time frame

Q) how can we get the other company departments to be more customer oriented ?

Ans) one can get other company departments to be more customer oriented by following
These steps should be seen taken by other departments

step 1

what are the steps taken by marketing department to be customer focus

step 2

which are the rules followed by marketing department

step 3

what are the limitations of marketing department where other departments can become an
asset to marketing department of the company

step 4

prepare a daily report of the marketing wing and contribution of the specific department
in connnection to marketing wing

step 5

hand it over the report to marketing department at the end of the day for scrutiny and
make them aware of the help they other than marketing department is giving to them.

this would make the company departments come closer together.