Marketing Management (final)

1. Why did Barak Obama win the elections for two term?
➔ Barack Obama’s victory in the 2008 U.S. presidential election was a well-designed and
well-executed marketing program.
➔ Firstly, well-designed, thought critically on the success planning and careful to design
the political strategies. Before, he can design the best plan to win. He has observed their
people and knows clearly what they need, who they are. So he can design the best plan to
catch people's hearts. In fact, he can give everything I need, which is why I decided to
choose another one who didn't give me what I wanted. Surely, I will choose someone who
can give me what I need. Also, American people will choose like me. Secondly, with a
well-executed marketing program, he has a plan that sets up what he is going to do, when
he wins the election. Exactly, he follows the plan and follows what he has promised. He
just did what he had said, it wasn't enough but the most important thing was to make
American people love him more and more than before. Everything that he promised or he
said to his people. He has done it successfully. Example, He promised to build the
strongest country for everyone to have a good job with a good price. Yes, he did it and did
his best.
➔ In conclusion, the first election, he was well-designed with the ability to know what
they need. For the second victory, he has a well-executed marketing program, it means he
did the best on his work and success. Finally, American people love his works.
2. What is the measurable indicator of successful marketing?
➔ The measurable indicator of successful marketing are demand for products
and services. Because we can know clearly on the number of products or services that
we give to our customer. Example: If we want to know whether students are successful in
their studying or not. We can check on GPA because GPA 4.00 is the best score that we
can identify for their success.
3. What is the factor the success of company?
➔ The factor of the success of a company is that marketing and sales capabilities were a
top priority for their organization’s success.
4. What is demand?
➔ Demands are wants for specific products backed by an ability to pay.
5. How many needs? What are they?
➔ There are 5 needs.
1. Stated needs (The customer wants an inexpensive car.)
2. Real needs (The customer wants a car whose operating cost, not initial price, is low.)
 3. Unstated needs (The customer expects good service from the dealer.)
4. Delight needs (The customer would like the dealer to include an onboard GPS
navigation system.)
5. Secret needs (The customer wants friends to see him or her as a savvy consumer.)
6. What is the customer value triad? Give brief description of each point
➔ Customer value is dependent on the three factors – Quality, Service and Price. Hence,
these three together form the ‘Customer Value Triad’. Every customer is looking for a
product with a good quality, service and price. Example, I want to buy a new phone. I will
check the price of it to compare with other products and also compare with quality.
Finally, I will look at the service, because if it is an error or not clear they can provide a
good service to me. Of course, I will support this product or company next time.
7. What is the value delivery process? Give brief description of each stage.
➔ The value delivery process is divided into three phases.
- First, choosing the value. Example, research on market segmentation, target market
selection, value positioning.
- Second phase is providing the value. Example, determine specific product features,
prices, and distribution.
- Third phase is communicating the value. Example: Utilize the sales force, Internet,
advertising, and any other communication tools to announce and promote the products.
8. How many levels of strategic planning? What are they? (2.5 marks)
➔ There are 4 levels of strategic planning. There are (1) corporate, (2) division, (3) business
unit, and (4) product.
9. In business perspectives, how many categories of core competencies/resources? (2.5
marks)
➔ A core competency has three characteristics:
- It is a source of competitive advantage and makes a significant contribution to
perceived customer benefits.
- It has applications in a wide variety of markets.
- It is difficult for competitors to imitate.
10. Why does a company need SWOT analysis?
➔ A SWOT analysis will assist you in identifying high-performing aspects of your
organization. Such as your essential success elements, and they provide your company
with a competitive advantage. Identifying these qualities might assist you in ensuring that
they are maintained so that you do not lose your competitive edge.
11. Why do we need market research?
 ➔ We need market research to develop innovative products, successful strategies, and
action programs, marketers need up-to-date information about the environment, the
competition, and the selected market segments.
12. We have 5 steps of marketing research:
1. Why do Market research
2. Set your research objective
3. Find out what information already exists
4. Do your own research through surveys
5. Analyse and act on the results
13. Which business units/departments affect the forecasting demand? What are they?
➔ Business units/departments affect the forecasting demand:
- By finance to raise cash for investment and operations.
- By manufacturing to establish capacity an output.
- By purchasing to acquire the right amount of supplies.
- By human resources to hire the needed workers.
14. In order to measure products demand, we have to beak down the markets. How many
markets that we should consider?
➔ In order to measure product demand, we have to break down the markets. We have 4
markets that we should consider:
1. The potential market is the set of consumers with a sufficient level of interest in a
market offer.
2. The available market is the set of consumers who have interest, income, and access to
a particular offer.
3. The target market is the part of the qualified available market the company decides to
pursue.
4. The penetrated market is the set of consumers who are buying the company’s product.
15. Define a common way to estimate total market potential. Give an example from your case.
➔ For example, I want to sell iPhone cases in our class. Our class has 22 students, but only
30% of students use an Iphone. So I got 6 students who use Iphones and that is my
target. If 6 students buy my I phone cases a year, and they buy 3 time a year with an
average price of $3 each. Then the total market potential for Iphone cases is (6
students*3time*3$) 54$.
16. If you purchase any products, what factor(s) that you select? Why?
➔ Example, I want to buy a new phone. I will look at three factors such as quality, best
price, and warranty. Because quality and price are two factors that I search, if the
 price and quality are balanced I will note it into my list. The last one warranty is an
important part of every electronic product. If they have a warranty, it is good for us.
17. How many types of customers/shoppers? What are they?
➔ There are 3 types of customers/shoppers.
1. Loyal shoppers
2. Happy shoppers
3. Unhappy shoppers
18. What is customer service in the public eye?
➔ It is a service in the public that every customer can search in public by themselves on the
internet to find what they need. For example, My company posts the information of our
company in public such as a website or web page. After that customers can search
everywhere or every time to know more about our company information.
19. How many types of offensive strategies for gaining market shares? What are they?
➔ There are 5 types of offensive strategies for gaining market shares:
1. Frontal attack
2. Flank attack
3. Encirclement attack
4. Bypass attack
5. Guerrilla attack
20. What are the defensive strategies in business concept?
➔ Defensive strategy is defined as a marketing tool that helps companies to retain valuable
customers that can be taken away by competitors. A strong defense should deter, as well
as repel, rivals and allow the organization to build on its strengths.
21. Define pricing discrimination.
➔ Companies often adjust their basic price to accommodate differences in customers,
products, locations, and so on.
● Price discrimination occurs when a company sells a product or service at two or
more prices that do not reflect a proportional difference in costs.
● In first-degree price discrimination, the seller charges a separate price to each
customer depending on the intensity of his or her demand.
● In second-degree price discrimination, the seller charges less to buyers of larger
volumes. With certain services such as cell phone service, however, tiered pricing
results in consumers paying more with higher levels of usage.
● In third-degree price discrimination, the seller charges different amounts to
different classes of buyers.
22. Compare the penetration price and skimming price
➔ Penetration price: Low price to gain more market share and volume, then increase higher.
Example, when we open a new coffee shop, we set the low price to gain our market
share. After we get enough, we change them to be higher.
➔ Skimming price: High price to gain margin, then lower down when competitors follow. In
the company, we set the high price to lie to competitors after they follow us. We site price
again with the lower as normal.
23. Define the brand.
➔ A brand is a name, term, sign, symbol or design, or a combination of them, intended to
identify the goods or services of one seller or group of sellers and to differentiate them
from those of competitors.
24. What is brand knowledge?
➔ Brand knowledge refers to the thoughts, feelings, experiences, and becoming associated
with a customer with a business’s brand or a company.
25. Define the product
➔ Product is anything offered to market such as goods, services, events, persons, places,
organizations, and ideas.
26. What are differences between forecast and research?
➔ A forecast refers to a calculation or an estimation which uses data from previous events,
combined with recent trends to come up with a future event outcome.
➔ But Research is more specific to do the research of the market by specialists of research
and calculation before doing the business.
27. Explain the trend extrapolation forecasting technique.
➔ This method basically analyzes a historical trend throughout time and extrapolates where
the trend line will be in the future. For example, last month, the Government allowed the
welcoming of tourists and reopened international air ports. So the businesses related to
tourists can prepare to reopen again too.
28. What are differences between forecasting and research?
➔ A forecast refers to a calculation or an estimation which uses data from previous events,
combined with recent trends to come up with a future event outcome. But Research is
more specific to do the research of the market by specialists of research and calculation
before doing the business.
29. Is Starbuck so expensive in Cambodia compared with other coffee brands?
➔ Starbuck so expensive in Cambodia because of two reasons. First, the price of
product or value of the coffee. It means coffee that Starbuck use or sell is the high
 quality with the good machine. According to hearth website, when you drink with high
quality of coffee it give the good nutrient to our health. Second, name brand is the
very old one in the world.
30. For you related to forecasting techniques, what is the difficult technique to forecast?
➔ In my opinion, the Econometric model is a difficult technique to forecast because this
technique requests the professionals related to the economic statistics model.
Moreover, we can not understand well with econometric models if we don’t have
someone who studies economic help.
31. List forecasting techniques.
➔ Time series model.
➔ Econometric model.
➔ Judgmental forecasting model.
➔ The Delphi method