Marketing Principles: Pricing Tactics, Macro Environmental Forces, Advertising Media, and More

Marketing Principles

Contents
Introduction.................................................................................................................................................4
1 Compare and contrast any three pricing tactics that you have come across in the recent past..................5
2 List the six macro environmental forces that a business should scan and monitor on a regular basis.
Imagine you are a marketing manager of a Luxury brand Rolex watches. Discuss two macro
environmental forces that you think will have greater influence on business and marketing of your brand?
.................................................................................................................................................................... 6
3 To what extent do you agree with the statement “In order to grow brand (i.e. increase market share),
marketers should focus on increasing market penetration rather than customer loyalty”? Discuss using
examples and research work........................................................................................................................7
4 Choose two advertising media options (e.g. television versus the internet). Compare the advantages and
disadvantages for each advertising media option. Provide an example where one of the options is more
suitable than the other..................................................................................................................................8
5 Critique Maslow’s hierarchy of needs concept using examples................................................................9
6 There are three levels of distribution when considering market coverage decisions. List all three and
explain two using examples.......................................................................................................................10
7 Your company has come up with an idea of developing a new product i.e “all-in-onedental” which is a
combination of toothpaste, toothbrush and tongue cleaner in one product. What type of market research
would you propose to conduct in order to understand the adaptability of the product in a market?...........11
8 Explain three processes a company can consider to maximise the chances of succeeding at the
implementation phase of marketing...........................................................................................................12
9 Compare and contrast the following consumer good classifications: shopping products,
convenience products, speciality products and unsought products. Use examples in your discussion.....13

10 List and explain situational influences on consumer behaviour. In your answer, use the example
of a customer purchasing a new t-shirt in a retail store to explain how the situational influences apply to
consumer behaviour..................................................................................................................................14
References-................................................................................................................................................15

Introduction
Marketing principles refers to the principles related to marketing that help in creating product promotion
strategies. Every organization has a separate department for marketing that basically focus upon the
marketing strategies and implementation of the same. Most of the organization adopts a mix of more than
one marketing principle to enhance the performance of existing product and to launch a new product in
the market.