GSBS6041 Global Marketing Strategy and Planning Strategies

Task:

You advise a firm currently operating in the growth stage of the product life cycle, after a successful product introduction.  Management asks what they should be considering so that they are best prepared for the maturity stage of the product life cycle.  What might you want them to consider in order to be successful in maturity?
Group of answer choices
How to manage assets as overall sales across the entire market decline
How to differentiate offerings from competitors, resulting in effective secondary demand strategies.
How to educate customers about the general product class, resulting in effective primary demand strategies.
All of these considerations are equally valuable in this situation.
 
Flag question: Question 2
Question 21 pts
You are in charge of a new initiative to reduce cart abandonment for your firm’s retail website.  (Cart abandonment occurs when a shopper puts an item in his online shopping cart, then exits the site without actually making the purchase).  You have to make a proposal to your CMO regarding the budget for your planned initiative.  You know the average contribution margin of sales from each type of channel you use. (Your three channel types are:  the online website under consideration, traditional retail stores, and distributors.)  You also know the estimated cost of the initiative you have in mind.  Finally, you know the number of customers shopping through each of your channel types (online, retail stores, distributors).  You manage highly-qualified analysts, and they can complete any calculations you like, but you have to tell them what to do.  What would be most informative type of analysis to do next? (Assume all analyses are possible and will be accurate.)
Group of answer choices
Forecast total, current product line sales for online and offline shoppers. Use the difference to estimate what would happen if online selling was more effective.
Nothing, you already have an estimated cost for your initiative.
Calculate competitive spending and market share, then estimate the value of each market share point.
Run an experiment to estimate change in cart abandonment with and without the initiative, thereby estimating incremental sales from the initiative.
 
Flag question: Question 3
Question 31 pts
Your firm is considering entry in a new market and you have to decide what (one) initial target market to choose, if you do enter.  There are 3 roughly similar-sized segments in the market:  Segment X, Segment Y, and Segment Z.  (You can also choose ‘no segment’ by not entering.)  Your colleague suggests you should choose Segment Y because the value proposition sought by that segment is most matched to your source of marketing advantage and hence your competitive differentiation.  What would be the most important next piece of information (of the choices below) to inform your targeting decision? 
Group of answer choices
Average segment age and income, to estimate payoff from winning the segment
Average segment customer lifetime value and segment size, to estimate payoff from winning the segment
Segment response variables sought, to estimate the probability of winning the segment
Identifier variables for each segment, so you know how you would reach the segment you target with promotions.
 
Flag question: Question 4
Question 41 pts
What is true about strategies to increase primary demand?
Group of answer choices
They involve trying to increase the available market as a proportion of the potential market
They involve trying to create sales that would not happen in the absence of the demand strategy
They can result in both a company and its competitors being better off
All of these statements are true
 
Flag question: Question 5
Question 51 pts
You are setting a price for your product, and you want to base it on a Value-In-Use (VIU) analysis comparing your product to your one, major competitor.  Both products are valued exactly the same by customers, so there is no difference in incremental value.  Your competitor charges $5000 and has $1000 in post-purchase costs.  You have $2000 in post-purchase costs.  Neither you nor your competitor has start-up costs.  What is the VIU amount for your product as compared to your competitor?  (Note: This is not necessarily the price you will charge.  I’m asking about the VIU calculation only.)
Group of answer choices
$3000
$4000
$5000
$6000
 
Flag question: Question 6
Question 61 pts
You are about to launch a new product intended to serve (target) multiple segments.  The product is based on extensive market research through focus groups and surveys, and contains every feature any target segment member said they wanted or might want.  What, if any, concerns might you have?  (Note:  all of these might be concerns, but pick the one that seems to best apply class concepts.):
Group of answer choices
That there are more features that should be added but that marketing research missed
That product usability difficulties will decrease satisfaction, harming repeat sales
That customers won’t be willing to pay what you want to charge for your product
That it will be difficult to set-up manufacturing
 
Flag question: Question 7
Question 71 pts
Imagine you have many long-term, strategic marketing decisions to address.  You want to start by considering how your firm can differentiate from competition across current and potential future markets.  You are going to ask your MBA intern to work on this.  The intern asks which factors are most important when determining what competitors to consider  (i.e., which competitive firms to include in the analysis).  What is the best answer? (Assume all are possible and all will return accurate results.):
Group of answer choices
Find out which competitors are currently taking our market share.
Use a list of the firms from a directory of firms in your industry.
Research customer beliefs about what firms provide the benefits that actual and potential customers seek in the relevant markets.
Look at industry definitions of market share and consider all competitors with a larger share than you have.
 
Flag question: Question 8
Question 81 pts
Imagine you market a line of beauty care products (e.g., makeup, skincare, shampoos).  You do very well with older customers who are not very personally engaged with these products.  You would like to expand to the more “beauty-conscious” segment and will start with that segment by trying to get young beauty professionals (e.g., hairstylists, models, etc.) to use your product.  You conduct market research and find that the professionals think your products are excellent when the products are presented and used without branding (i.e., when products are in plain bottles with brands masked).  However, when your products are branded (i.e., presented in your normal bottle with brand name and logo), the professionals refuse to purchase or even use your products.  How would you explain this?  (You can’t know the truth, but answer as to what seems most likely and useful as an interpretation, as always given class content.):
Group of answer choices
These results indicate that there is some broader benefit (e.g., fit with professional identity) sought by professional customers but not consistent with our brand.
These results make no sense because what matters are the physical product characteristics and those do not change. Hence, the market research company must have made a mistake.
These results suggest that our product formulations are poor (e.g., may not work well on a range of hair or skin types) and our current customers simply do not know better.
These results suggest that professionals do not understand their own preferences.
 
Flag question: Question 9
Question 91 pts
Imagine you are launching a digital media service.  Your technology platform is such that it is possible to provide different offerings to different customers based on a very wide variety of customer-specific factors (e.g., demographics, geography, behaviors such as web searching and media watching, marketing research questions asked by a variety of companies, etc.). You are worried about customers getting angry if they realize that you are tracking what they watch, buy, and search online.  You are thinking about actions to help with this specific worry.  Which of the approaches below seems most promising?:
Group of answer choices
Engage customers with both services and tracking so they have, and perceive, some control over your media system and offering
Leverage third-party data from all of your partner sites and deep-dive marketing research so that your offerings can be as tailored to customer behaviors as possible.
Don’t worry about it. Customers are fine with tracking as long as they get better products or services as a result.
Take a light touch so that customers feel intrinsically motivated to talk about your product with others
 
Flag question: Question 10
Question 101 pts
Imagine that you manage multiple brands.  Brand A and Brand B target one specific, unique customer segment each with little to no overlap in target market geography or mass media consumption across the brands.  The brands were both historically at 10% market share.  You launched a mass media campaign to increase awareness for Brand A within its target segment, and you found an excellent result, with share doubling to 20%.  Your colleague suggests doing the same thing for Brand B and asks whether you think that is a good idea.  What would be the most important consideration (out of the list below) for analyzing whether the idea is good?   (Assume all are possible for you to accurately estimate given your firm’s marketing research capability): 
Group of answer choices
Whether the customers targeted by Brand A have similar demographics to those targeted by Brand B (in terms of age, income, profession, etc.).
How the current purchase funnel for Brand B (in terms of the percentage of the target market to have progressed through each funnel stage) compares to the purchase funnel for Brand A that existed before Brand A’s awareness campaign.
The percentage increase in awareness that occurred before and after Brand A’s awareness campaign.
How much the awareness campaign cost for Brand A.
 
Flag question: Spacer
Please use this to answer questions 11-13 
You own a leading company in the market for solar energy.  You have invented a completely new product using a radically new technology that involves putting moderately sized, attractive artificial sunflowers into residential yards.  You are considering one of two separate markets to enter.  The markets are compared in the table below:
 
Market A    Market B
is very dissatisfied with their existing solutions to the problem your new product will solve    is somewhat satisfied with their existing solutions to the problem your new product will solve
has average income customers and is quite big in terms of number of households in the segment    has very wealthy customers and is moderate in terms of number of customers in the segment
has customers who live very far apart and do not interact with each other much    has customers who live close by one another and interact with each other extensively
is made up of older, established families    is made up of younger consumers who are just starting households
You know that a small (and equivalent) percentage of both markets will buy your product immediately, based on their own expertise in solar power. 
You can only start with one of these markets, and your goal is to start with the market where the speed of diffusion will be highest.  (By “speed of diffusion,” I mean the speed (time) at which the market will move from early customers buying for the first time to the majority of the market buying for the first time.)  Please answer questions 11-13:
 
Flag question: Question 11
Question 112 pts
Keeping your goal in mind, what is/are the best specific reason(s) for starting with Market A?  Why (Hint:  Be precise)
 
Flag question: Question 12
Question 122 pts
Keeping your goal in mind, what is/are the best specific reason(s) for starting with Market B?  Why (Hint:  Be precise)
 
 
Flag question: Question 13
Question 131 pts
Using your answers to 11 and 12 above, which market would you enter first and why?  (Note:  You can answer either way, just say why you picked the market you picked.)
 
 
Flag question: Question 14
Question 145 pts
You sell a well-known brand operating in a market with another strong (well-known) brand.  Your market research shows that customers think your brand has better styling but they think the other (competitor) brand has better reliability.  Unfortunately for you, customers really value reliability.
Your advertising agency suggests that you run a major advertising campaign, naming your brand and the competitor’s brand and stating convincingly that your styling is better.  The ad will persuasively illustrate the importance of styling.  Overall, the goal of the advertising campaign is to make customers aware of your advantage on styling and to try to increase the importance of styling to customers.  In testing, the advertisement does very well in terms of communicating your styling advantage and its importance.
You tell the manager from the advertising agency you are worried it will harm your brand to bring up the competitor’s name in the advertisement, because they are so well-regarded.   You don’t want to spend money advertising them!  The advertising agency manager says not to worry because you are bringing up your competitor in relation to your styling advantages, so that is what customers will think about during ad viewing.  Hence, the manager argues, customers will have negative thoughts about the competitor during add viewing.  The agency manager says that your concern would only be relevant if the advertisement mentioned reliability, but reliability is not mentioned at all.
Does what the advertising manager said make sense?  Why or why not?  (Hint:  answer from the perspective of branding and be as specific as possible.)
Flag question: Question 15
Question 155 pts
Imagine you are Chief Marketing Officer of a company that offers three distinct brands, with differing names and identities, all operating in the same market.  All three of your brands compete with the same set of brands offered by other firms.  Each brand has its own brand manager, and brand managers fight hard to convert customers to their brand, both bringing new customers into the market (primary demand) and converting customers who buy other brands (secondary demand).  You have the ability to invest in analytics to better estimate whether any particular sale is:  1) new to the product category, 2) converted from a different brand (and that different brand would be identified as part of the analytics).  Your company’s Chief Finance Officer (CFO) says the analytics will have no value, as your brand managers already work hard to execute on both primary and secondary demand for the brands they manage.  Assume the analytics themselves will be accurate. 
Do you agree with the CFO?  Why or why not?
Flag question: Question 16
Question 165 pts
In about two sentences (or less), please tell me your favorite recommendation from your team project, and one reason you made that recommendation.  I am not asking for an overview of your entire project and all recommendations.  Instead, I would like you to describe just one link from an insight (e.g., an assumption or understanding about customer behavior, competitive positioning, etc.) to a recommendation.
Different members of a team may have different favorite recommendations, and that is fine.  That is why I am asking for “your favorite” (this is explicitly subjective).  This question is explicitly designed to reward engagement with the team project.  For well-functioning teams with engaged team members, each member should get full points, even though specific answers will likely differ.
Please specify your company in your answer and please generally make your answer short but fully-contained (so I don’t have to look at your team work to grade it).
 
Flag question: Question 17
Question 170 pts
LAST Q:   (Not graded):  FINAL comment box:  Please add below any comments you have or any assumptions you made in answering exam questions.  (Feel free to leave this blank.  It is simply an opportunity to clarify any answers).

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