Solved by verified expert:You are required to discuss the following questions by providing at least three brief explanations in favor of your argument. for second part You are required to take a position in all of the following position statements by providing at least three brief explanations in favor of your argument. Please note there is no right or wrong answer here; it’s your explanation that will count. based on Marketing Management, attache the reference lecture to be refer to in solving
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You are required to disscuss the following questions by providing at least three brief explanations in
favor of your argument.:
1. B-to-C & B-to-B Concepts: How might B2C marketing concepts be applied to B2B settings?
2. Industry Roles: Pick an industry. Classify firms according to the four different roles they might play
leader, challenger, follower, and nicher. How would you characterize the nature of competition? Do the
firms follow the principles?
3. Pricing Methods: Think about the different pricing methods (like markup pricing, target-return pricing,
perceived value pricing, value pricing, going-rate pricing, and auction-type pricing). As a consumer, which
do you prefer to deal with? Why?
4. Product Innovativeness: Think about the last new product you bought. How do you think its success will
be affected by the five characteristics of an innovation relative advantage, compatibility, complexity,
divisibility, and communicability?
5. Country of Origin: Give an example of a brand/product that you use. Do you know where they come
from? Where they are made? Do you think knowing these answers would affect your perceptions of quality
or satisfaction?
MARKETING DEBATES
Note: You are required to take a position in all of the following position statements by providing at least
three brief explanations in favor of your argument. Please note there is no right or wrong answer here;
it’s your explanation that will count.
Debate / Position Statements
1. Is marketing management an art or a science?
Marketing management is largely an artistic exercise and therefore highly subjective.
– OR
Marketing management is largely a scientific exercise with well-established guidelines and criteria.
2. Does marketing create or satisfy needs?
Marketing creates consumers’ needs and wants.
Marketing satisfies consumers’ needs and wants.
– OR
3. Is consumer behavior more a function of a person’s age or generation?
Age differences are fundamentally more important than cohort effects.
Cohort effects can dominate age differences.
– OR
4. Is the right price a fair price?
Prices should reflect the value consumers are willing to pay.
Prices should reflect only the cost of making a product / service plus small profit margin.
– OR
COLLEGE OF BUSINESS ADMINISTRATION
Course Syllabus
MRKT 631:
Marketing Management
Spring 2018
Course Instructor
DR. KAMRAN SIDDIQUI
Certifications
Associate Professor
Department of Marketing
College of Business Administration
Office # +966-133332107
Mobile# 0541592000
Email: KASiddiqui@iau.edu.sa
Academic Qualifications
B.Sc.
1988
MBA
1992
MA-Marketing
2004
Publications
PhD
2008
Experience
Experience
Journal Articles
55
Conference papers
15
Books/Chapters
3
Citations
451
Course Objectives
Upon successful completion of the course the students will be able to:
•
Demonstrate comprehensive understanding of key marketing concepts.
•
Explore the integral role of marketing in delivering value.
•
Articulate the key marketing challenges to sustain competitive advantage.
•
Conduct market research/analysis to support the decision making process.
•
Develop and implement marketing strategies effectively.
•
Prepare and assess detailed marketing plans.
•
Investigate and reflect upon the latest trends in marketing.
17
Designing and Managing
Integrated Marketing
Communications
Marketing Management, 13th ed
Marketing Communications
Marketing communications are the means
by which firms attempt to inform, persuade,
and remind consumers, directly or indirectly,
about the products and brands they sell.
Integrated Marketing Communications
ensures that all forms of communications and
messages are carefully linked together.
Marketing Communications Mix
•
•
•
•
•
•
•
•
Advertising
Sales promotion
Events and experiences
Public relations
Direct marketing
Interactive marketing
Word-of-mouth
Personal selling
Marketing Communication Mix
Advertising VS Sales Promotion
Advertising VS Public Relations
COLLEGE OF BUSINESS ADMINISTRATION
MRKT 631: Marketing Management
In Class Exercise (Graded)
Time : 10 Mins
Exercise # 17
Identify the use of advertising (High – Low) vs use of sales
promotion (High – Low ) in different phases of Product Life Cycle ?
Adv-Advertising
SP-Sales Promotion
H-High
L-Low
Exercise # 18
Identify suitable target customers for Personal Selling & Advertising ?
Target Consumers for
Personal Selling
1.
2.
3.
Target Consumers for
Advertising
Exercise # 19
Identify suitable products for Personal Selling or/and Advertising?
Suitable products for
Personal Selling
1.
2.
3.
Suitable products for
Advertising
Exercise # 20
Identify suitable pricing (High –Low ) for Personal Selling and Advertising?
Suitable Pricing for
Personal Selling
Suitable Pricing for
Advertising
Identify suitable Channels (Long – Short ) for Personal Selling and Advertising?
Suitable Channels for
Personal Selling
Suitable Channels for
Advertising
18
Managing Mass
Communications:
Advertising,
Sales Promotions,
Events and Experiences,
and Public Relations
Marketing Management, 13th ed
What is Advertising?
Advertising is any paid form of
nonpersonal presentation and
promotion of ideas, goods, or services
by an identified sponsor.
The Five M’s of Advertising
•
•
•
•
•
Mission
Money
Message
Media
Measurement
Advertising Objectives
•
•
•
•
Informative
Persuasive
Reminder
Reinforcement
COLLEGE OF BUSINESS ADMINISTRATION
MRKT 631: Marketing Management
In Class Exercise (Graded)
Time : 10 Mins
Exercise # 21
Task: Identify the Advertising objectives used in different phases of
Product Life Cycle ?
Communication Platforms
•
•
•
•
•
•
•
•
•
•
•
Advertising Media
Characteristics
Newspapers
Television
Direct mail
Radio
Magazines
Outdoor
Yellow Pages
Newsletters
Brochures
Telephone
Internet
• Pervasiveness
• Amplified expressiveness
• Impersonality
TVCs
•
•
•
•
Advantages
Reaches broad consumers
Low cost per exposure
Ability to show product use
Ability to portray brand image
•
•
•
•
Disadvantages
Brief
High cost of production
High cost of placement
Lack of attention
Print Ads
•
•
•
•
Advantages
Detailed product information
Ability to communicate user
imagery
Flexibility
Ability to segment
Disadvantages
• Passive medium
• Clutter
• Unable to demonstrate
product use
Place Advertising
•
•
•
•
Billboards
Public spaces
Product placement
Point-of-purchase
Exercise # 22
Task: Identify the Advertising strategies to be
used in different phases of Product Life Cycle ?
What is Sales Promotion?
Sales promotion consists of a
collection of incentive tools, mostly
short term, designed to stimulate
quicker or greater purchase of
particular products or services by
consumers or the trade.
Communication Platforms
•
•
•
•
•
•
•
•
•
•
Sales Promotion Methods
Contests
games
Sweepstakes
Premiums
Sampling
Trade shows, exhibits
Coupons
Rebates
Entertainment
Continuity programs
Characteristics
• Communication
• Incentive
• Invitation
Sales Promotion Tactics
Consumer-directed
• Samples
• Coupons
• Cash refund offers
• Price offs
• Premiums
• Prizes
• Patronage rewards
• Free trials
• Tie-in promotions
Trade-directed
• Price offs
• Allowances
• Free goods
• Sales contests
• Spiffs
• Trade shows
• Specialty
advertising
Using Sales Promotions
•
•
•
•
•
•
Establish objectives
Select tools
Develop program
Pretest
Implement and control
Evaluate results
Exercise # 23
Task: Identify the sales promotion strategies to be
used in different phases of Product Life Cycle ?
Why Sponsor Events?
•
•
•
•
•
•
•
•
•
To identify with a particular target market or life style
To increase brand awareness
To use in positioning/repositioning
To create or reinforce key brand image associations
To enhance corporate image
To create experiences and evoke feelings
To express commitment to community
To entertain key clients or reward employees
To permit merchandising or promotional opportunities
Using Sponsored Events
• Establish objectives
• Choose events
•
•
•
•
•
Having relevant target audience
Generates media attention
Unique with few sponsors
Lends itself to ancillary activities
Enhances brand image of sponsor
• Design programs
• Measure effectiveness
Events & Experiences
Characteristics
• Relevant
• Involving
• Implicit
•
•
•
•
•
•
•
•
Major Tools
Sports
Entertainment
Festivals
Art
Causes
Factory tours
Company museums
Street activities
Tasks Aided by Public Relations
•
•
•
•
•
Launching new products
Repositioning a mature product
Building interest in a product category
Influencing specific target groups
Defending products that have
encountered public problems
• Building the corporate image in a way
that reflects favorable on products
Public Relations
•
•
•
•
•
Functions
Press relations
Product publicity
Corporate
communications
Lobbying
Counseling
•
•
•
•
•
•
•
Major Tools
Publications
Events
Sponsorships
News
Speeches
Public Service Activities
Identity Media
Public Relations
Characteristics
• High credibility
• Dramatization
• Ability to catch
buyers off guard
Major Tools
•
•
•
•
•
•
•
•
•
•
Press kits
Speeches
Seminars
Annual reports
Charitable donations
Publications
Community relations
Lobbying
Identity media
Company magazine
19
Managing Personal
Communications:
Direct and
Interactive Marketing,
Word of Mouth, and
Personal Selling
Marketing Management, 13th ed
What is Direct Marketing?
Direct marketing is
the use of
consumer-direct
channels to reach
and deliver goods
and services to
customers without
using market
middlemen.
Direct Marketing
Characteristics
• Customized
• Up-to-date
• Interactive
•
•
•
•
•
•
•
•
•
Major Tools
Catalogs
Mailings
Telemarketing
Electronic shopping
TV shopping
Fax mail
E-mail
Voice mail
Blogs / Websites
Interactive Marketing
Online Promotional Opportunities
•
•
•
•
•
•
Websites
Microsites
Search ads
Display ads
Interstitials
Internet-specific ads
and videos
• Sponsorships
• Alliances and affiliate
programs
• Online communities
• Email
• Mobile marketing
e-Marketing Guidelines
• Give the customer a reason to respond
• Personalize the content of your emails
• Offer something the customer could not
get via direct mail
• Make it easy for customers to
unsubscribe
How to Start Buzz
• Identify influential individuals and companies
and devote extra effort to them
• Supply key people with product samples
• Work through community influentials
• Develop word-of-mouth referral channels to
build business
• Provide compelling information that
customers want to pass along
Personal Selling
Characteristics
• Personal interaction
• Cultivation
• Response
•
•
•
•
•
Major Tools
Sales presentations
Sales meetings
Incentive programs
Samples
Fairs and trade shows
Steps in Effective Selling
•
•
•
•
•
•
•
Prospecting/qualifying
Preapproach
Approach
Presentation
Overcoming objections
Closing
Follow up
Managing the Sales Force
•
•
•
•
•
•
•
Tasks
Prospecting
Targeting
Communicating
Selling
Servicing
Information
gathering
Allocating
•
•
•
•
•
•
Management
Recruiting
Selecting
Training
Supervising
Motivating
Evaluating
Designing a Sales Force
Types of Sales Representatives
Workload Approach to Determining
Sales Force Size
• Customers are grouped into size classes
• Desirable call frequencies are established
• Number of accounts in each size class
multiplied by call frequency
• Average number of calls possible per year
established
• Number of reps equal to total annual calls
required divided by number possible
Components of Sales Force
Compensation
•
•
•
•
Fixed amount
Variable amount
Expense allowance
Benefits
Word-of-Mouth
Characteristics
• Credible
• Personal
• Timely
Major Tools
• Person-to-person
• Chat rooms
• Blogs
COLLEGE OF BUSINESS ADMINISTRATION
Course Syllabus
MRKT 631:
Marketing Management
Spring 2018
Course Instructor
DR. KAMRAN SIDDIQUI
Certifications
Associate Professor
Department of Marketing
College of Business Administration
Office # +966-133332107
Mobile# 0541592000
Email: KASiddiqui@iau.edu.sa
Academic Qualifications
B.Sc.
1988
MBA
1992
MA-Marketing
2004
Publications
PhD
2008
Experience
Experience
Journal Articles
55
Conference papers
15
Books/Chapters
3
Citations
451
Course Objectives
Upon successful completion of the course the students will be able to:
•
Demonstrate comprehensive understanding of key marketing concepts.
•
Explore the integral role of marketing in delivering value.
•
Articulate the key marketing challenges to sustain competitive advantage.
•
Conduct market research/analysis to support the decision making process.
•
Develop and implement marketing strategies effectively.
•
Prepare and assess detailed marketing plans.
•
Investigate and reflect upon the latest trends in marketing.
14
Developing Pricing
Strategies
Marketing Management
Price
Price may be defined as the value of the
product attributes expressed in monetary
terms which a buyer/consumer pays or is
expected to pay in exchange or in
anticipation of the expected utility.
Steps in Setting Price
•
•
•
•
•
•
Selecting the pricing objective
Determining the demand
Estimating the costs
Analyzing the competitor price mix
Selecting the pricing method
Selectin the final price
Step 1: Selecting the Pricing Objective
• Major Pricing Objectives
• Maximized market share
• Maximized profit
• Survival
• Minor Pricing Objectives
•
•
•
•
•
•
Traffic Generation
Image Boosting
Social Responsibility
Market skimming
Market Penetration
Product-quality leadership
Step 2: Determining Demand
• Price sensitivity
• Estimate
demand curves
• Price elasticity
of demand
Step 3: Estimating Costs
• Types of costs
• Accumulated
production
• Activity-based
cost accounting
• Target costing
Fixed Costs
(Overhead)
Costs that don’t
vary with sales or
production levels.
Like Rent
Variable
Costs
Costs that do vary
directly with the
level of production.
Like Raw materials
Total Costs
Sum of the Fixed and Variable Costs
for a Given Level of Production
Step 4: Analyzing the competitor
price mix
Step 5: Selecting a Pricing Method
•
•
•
•
•
•
Markup pricing
Target-return pricing
Perceived-value pricing
Value pricing
Going-rate pricing
Auction-type pricing
• English auctions
• Dutch auctions
• Sealed-bid auctions
Pricing Methods in PLC
Step 6: Selecting the Final Price
•
•
•
•
Impact of other marketing activities
Company pricing policies
Gain-and-risk sharing pricing
Impact of price on other parties
Price-Adaptation Strategies
Discounts/allowances
•
•
•
•
•
Cash discount
Quantity discount
Functional discount
Seasonal discount
Allowance
Promotional pricing
•
•
•
•
•
•
•
Loss-leader pricing
Special-event pricing
Cash rebates
Low-interest financing
Longer payment terms
Warranties and service contracts
Psychological discounting
Customer-segment pricing
•
•
•
•
•
•
Product-form pricing
Image pricing
Channel pricing
Location pricing
Time pricing
Yield pricing
Countertrade
•
•
•
•
Barter
Compensation deal
Buyback arrangement
Offset
Geographical pricing
Consumer Psychology
and Pricing
•
•
•
•
Reference prices
Price-quality inferences
Price endings
Price cues
Reference Prices
•
•
•
•
•
•
•
•
“Fair price”
Typical price
Last price paid
Upper-bound price
Lower-bound price
Competitor prices
Expected future price
Usual discounted price
Price Cues
• What are Price Cues?
•
•
•
•
•
“Left to right” pricing ($299 vs. $300)
Odd number discount perceptions
Even number value perceptions
Ending prices with 0 or 5
“Sale” written next to price
• When to Use Price Cues?
•
•
•
•
•
Customers purchase item infrequently
Customers are new
Product designs vary over time
Prices vary seasonally
Quality or sizes vary across stores
15
Designing and Managing
Integrated
Marketing Channels
Marketing Management, 13th ed
Marketing Channel
A marketing channel system is the particular set
of interdependent organizations involved in the
process of making a product or service available
for use or consumption.
• Role of Intermediaries
• Create Efficiency
• Value vs. Cost
Identifying Channel Alternatives
• Types of intermediaries
• Wholesaler
• Retailer
• Agents/Brokers
• Number of intermediaries
• Exclusive
• Selective
• Intensive
• Terms and responsibilities
•
•
•
•
Price policy
Condition of sale
Distributors’ territorial rights
Mutual services and responsibilities
Consumer & Industrial
Marketing Channels
1-21
Types of Distribution Channels
• Intensive
• Selective
• Exclusive
Functions of
Marketing Channels
Information
Transfer
Payments
Physical
Distribution
Risk Taking
Communication
Negotiation
Ordering
Financing
Channel Management
Training
Motivating
Evaluating
FEEDBACK
Selecting
Channel Conflict
• Channel conflict occurs when one
member’s actions prevent another channel
from achieving its goal.
• Types of channel conflict
• Vertical – Different levels in same channel
• Horizontal – Same level within he channel
• Multichannel – Different market channels
Channel Power
The Supply Chain
Supply Chain Management (SCM) is the oversight
of materials, information, and finances as they move
in a process from supplier to manufacturer to
wholesaler to retailer to consumer.
It involves coordinating and integrating these flows
both within and among companies.
16
Managing Retailing,
Wholesaling, and Logistics
Marketing Management, 13th ed
Retailing
Retailing includes all the activities
involved in selling goods or services
directly to final consumers for personal,
nonbusiness use.
Major Retailer Types
•
•
•
•
Specialty store
Department store
Supermarket
Convenience store
•
•
•
•
Discount store
Off-price retailer
Superstore
Catalog showroom
Levels of Retail Service
Major Types of Retail
Organizations
•
•
•
•
Non-store Retailing
Direct selling
Direct marketing
Automatic vending
Buying service
•
•
•
•
•
•
Corporate Retailing
Corporate chain store
Voluntary chain
Retailer cooperative
Consumer cooperative
Franchise organization
Merchandising
conglomerate
Private Label Brands
• Private labels are ubiquitous
• Consumer accepts private
labels
• Private-label buyers come
from all socioeconomic
strata
• Private labels are not a
recessionary phenomenon
• Consumer loyalty shifts from
manufacturers to retailers
COLLEGE OF BUSINESS ADMINISTRATION
Course Syllabus
MRKT 631:
Marketing Management
Spring 2018
Course Instructor
DR. KAMRAN SIDDIQUI
Certifications
Associate Professor
Department of Marketing
College of Business Administration
Office # +966-133332107
Mobile# 0541592000
Email: KASiddiqui@iau.edu.sa
Academic Qualifications
B.Sc.
1988
MBA
1992
MA-Marketing
2004
Publications
PhD
2008
Experience
Experience
Journal Articles
55
Conference papers
15
Books/Chapters
3
Citations
451
Course Objectives
Upon successful completion of the course the students will be able to:
•
Demonstrate comprehensive understanding of key marketing concepts.
•
Explore the integral role of marketing in delivering value.
•
Articulate the key marketing challenges to sustain competitive advantage.
•
Conduct market research/analysis to support the decision making process.
•
Develop and implement marketing strategies effectively.
•
Prepare and assess det …
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