prelim 1 fall 2008 essay answers

prelim 1 fall 2008 essay answers - AEM 240 Fall 2008...

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Unformatted text preview: AEM 240 Fall 2008 Marketing Prof. McLaughlin SECTION II Essays Do 2 of 3 ONLY (10 points each) 1) Among its vast stable of brands, Proctor & Gamble had the following approximate performance in 2007 with five of its leading products. Relative Annual Annual Sales Product 1 Market Share Growth L Qmillion) Pert Plus Shampoo J_ High 22% 2,200 Crest Whitestrips Low 8% 310 Ultra Pampers Diapers High 3% 4,100 Bounty Paper Towels T Medium y 6% F 1,400 Pringles Low 12% _ 1,200 A) Assume you are the Director of Strategic Marketing Planning at P&G, responsible for charting these products into a portfolio matrix. Illustrate with a diagram and label the appropriate matrix below. (6 pts) imd” sBu/emcl :Plac-cem-at .s q 6... utk'O.’\ Tic Veflbccf aim. S lcée (S . ’6‘. vg 9L4!“ Q B) Although widely used by marketers, the portfolio matrix (BCG) approach is not without criticism. Name four such criticisms. (4 pts) - Assumes high market share leads to high profits - Hard to get good data - Ignores SBU synergies - Creates motivational problems in SBUs that are dogs or cash cows 11 AEM 240 Fall 2008 Marketing Prof. McLaughlin 2) Hank is a carpenter who makes amazing furniture in his spare time. His specialty items are cradles and other furniture for a nursery. One of his co- workers has commented that Hank should really consider going into business for himself and make hand crafted furniture, full time. Hank decides to take his friend’s advice. He has received funding from a bank to open the business, but now he is faced with marketing. He asks for your help. A) You know that as soon as Hank gets his production operation working, he will definitely need to turn his attention to marketing. List the phases and steps of the strategic marketing process for Hank. (5 pts) Market-product Marketing f us and program 9 setting Chapters 9—10 Chapters-.1042 Marketing plan implementation phase Chapter 22 l Results Y Evaluation phase Chapter 22 B) Hank’s furniture is handcrafted and is perceived as expensive by some. Thus, Hank recognizes that some consumers will evaluate other furniture alternatives, with different attributes, more favorably. List at least 3 strategies that Hank could employ to respond to such consumers so that they rate his furniture brand more favorably. (3 pts) — Modify to improve its own sound quality — Change the list of attributes that buyers consider or the importance weights that consumers assign — Change consumers’ beliefs about SONY performance of this attribute, esp if the consumer is “wrong” B) What would make the decision to purchase Hank’s furniture high involvement? (2 pts) If the furniture is: important/ expensive has social / personal importance may provide big benefits highly technical product 12 r-— Findings: Determination of CS Factors l fit—f L) .5 a _.2 v. i . . L ,7 > {Tit} I yr; j , i E ‘L.’ :‘f " if“ i 3 ll} ‘- i C t I 0 1k l(__t\ \"JL 1' x .. {i \Z - _.I‘"il I. __ ‘ ‘ 31‘. ,'._>. if ,_" f1 \'— ; "I. i- t _:"-&- I J ‘- tui ,. ,\ _ r {3. "i. \ ’F H 1&1, AEM 240 Fail 2006 Marketing Prof. McLaughlin 3) Marketers love to preach "'-:,i_:siio.'rier satisfaction above all!" But some business analysts wonder whether a iirrrfls empioyees must first be satisfied in order to produce satisfied custr mers. lieu further wonder whether satisfied customers—v laudabie a goal as that sourids-—--L«2r;:tually is a positive influence on a firm’s financial performance. Outline the steps of the study discussed in class that was conducted in pan: to answer these questions. What results were found? (10 pts) : Satisfaction I Factor Customer ' Emean helpiul empioyots 41 Findings: Drivers of CS at Supermarket X '_ Smuy Items 1 J..__ - Approximate equal contribution of factors to Overall Satisfaction: 3 Survicn Fast check out seMcc ? I Emailed service If! iha Ciel ; l I Amys hes the: items Bdmfiisad Inihcircitcuiui' in max " Customer Serv|ce 32% [Strictsarulalion Standards . Value 36%) 5.____ .___.__ . _ _ . i o Quaiity i Him qunll‘y mam bakery QUQMY 32 A) - Overall ES influences CS with service; a one point increase (decrease) in overall ES results in a 0.1 increase (decrease) in CS with Service Factor - Overall ES does not affect CS with either the Quality and Value Factors Findings: Links between ES and CS Him qua Ily seafood Emelinrl quain fresh mat: and vegan Liz-v. |Him quality deb Wall; und salads [High qualiy fresh meal Fresh. nigh qua'n‘iy dairy products Aetiveiy smpqts Ihc local comrmrlty Ovarsil‘ has low mow prices Has great sales in Its slow. Circulier Comes all the grocery ilems. islands and siege _ Findings: Linking ES, Customer Satisfaction and Store Performance Ono-point increase in store ES 0.10 point incraaeo in CS with Service i i 1% increaw in annual more 1 sales per square '00! 57 increase In the nvomga 013593 per square foot For ynur increased annual alum sales oi $400,000 ...
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prelim 1 fall 2008 essay answers - AEM 240 Fall 2008...

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