MBA 8145 Marketing Management: Summer 2019 Final Exam Analysis

This document presents solutions to a Marketing Management final exam (MBA 8145) from Summer 2019. The exam consists of ten short answer questions, each worth 10 points. The questions cover a wide range of marketing concepts, including the scope of marketing, new marketing realities, customer lifetime value (CLV) and its maximization, pricing strategies, the differences between business-to-business and end consumer buying, market segmentation, brand equity and its development, challenges in new product development, changes in the modern retail marketing environment, and integrated marketing communications programs. The solutions provide detailed explanations and examples to address each question comprehensively, offering valuable insights into the core principles and practices of marketing management.

Running Head: MARKETING & MANAGEMENT 0
Marketing & Management
(Student Name)

MARKETING & MANAGEMENT 1
Table of Contents
Question 1........................................................................................................................................2
Question 2........................................................................................................................................2
Question 3........................................................................................................................................2
Question 4........................................................................................................................................3
Question 5........................................................................................................................................3
Question 6........................................................................................................................................3
Question 7........................................................................................................................................3
Question 8........................................................................................................................................4
Question 9........................................................................................................................................4
Question 10......................................................................................................................................4
References........................................................................................................................................5

MARKETING & MANAGEMENT 2
Question 1
Marketing has huge scope that coverall the activities that are related with idea conception
to profit realization as they are explained in below points:
 Marketing support the organization in designing the products or other goods
 It helps in creating era of advertising. The adverting can be done through social media,
newspaper, magazines and so on.
 Distribution is the important channel to enhance the sales of the products.
 Marketing include selling of goods. Selling is the supply of goods and services to
consumers directly or indirectly.
 Packaging is used by the company to protect the products from damage.
Question 2
The major forces that define the new marketing realities are explained in below points:
 The prediction of consumer behavior
 The Marketing budget
 Technology as well as the every green challenges of competition
 Marketing Channels
 Globalization
 Loyalty
 Social Responsibility
 Concern of consumers towards sustainability (Homburg, Jozić & Kuehnl, 2017)
Question 3
Customer Lifetime Value (CLV) is one of the metric that showcase the overall net gain
that organization creates from any specified consumer. It is a prediction to evaluate a financial
value of the consumers to the organization subsequently factoring in the values of the association
with consumer overtime.
There are different manner through which the marketer can maximize its CLV as they are:

MARKETING & MANAGEMENT 3
 Better communiqué centered on well explored consumer persona as well as segmentation
of consumers.
 Use of loyalty program in an organization.
 Value Driven cross-selling and up-selling
 Stay related with virtual existence
 Develop the level of consumer service (Zhang, Liang & Wang, 2016)
Question 4
There are four value adjustment approaches:
 Geographical pricing in which the company decided its price according to different
consumers situated in different locations and countries.
 Price Discount and Allowances in which the company provide allowances and rebates for
early payment, off-season purchasing as well as purchase in volume.
 Promotional Pricing: the organization will use various technique of pricing to stimulate
early buying which include cash rebate, psychological discount, longer payment term,
special event pricing and so on
 Differential pricing which include the price of the product vary according to different
consumer, products as well as location.
Question 5
The difference between business-to-business buying and end consumer buying are
explained in below points:
 The buying of consumers are limit to one or two participate whereas the business buying
include multiple participates which include final user, influencer, gatekeeper who screen
potential suppliers as well as purchasing manager.
 The market of consumers includes thousands of consumers that are located in different
places with different buying habits whereas the market of business generally consists of
few large buyers who majorly concentrate in specific market (Patsiaouras, 2019).

MARKETING & MANAGEMENT 4
Question 6
The consumer market is divided into four segments:
 Geographic segment which is divided on the basis of place, geographical units, countries
a well as other nations
 Demographics segment which is divided on variable such as family, age, income, race
and so on.
 Psychographic segment which is divided on the basis of persona traits as well as
psychological traits.
 Behavioural segment which are divided on the origin of their knowledge, brashness or
retort to a produce (Armstrong, Kotler, Harker & Brennan, 2018).
Question 7
Brand equity is term as brand value that is determined by the perception of consumers as
well as experience with the brand. On other words it is the values that brand bring to the
company. It is build up through the following ways:
 Spreading awareness about the brand among the targeted audience
 Create recognition of the store where the consumers become familiar with.
 Provide trial service to the consumers
 Lastly loyalty in which the consumers will share its experience to other.
Question 8
The challenges that are faced by the companies in developing new product are explained
in below points:
 The company face challenges in identifying as well assessing the target market,
requirement of products as well as benefits.
 The company face challenge in identifying new business opportunity.
 Changes in the government regulation and fluctuation in the economic created great
impact on the company.
 The company may face some capital shortages

MARKETING & MANAGEMENT 5
Question 9
There are certain tendencies that are varying retail that are explained in below points:
 The online corporate is creating huge compression on retail supplies through offer variety
of products to the consumers in affordable prices.
 The customers are visiting local stores for assistance as well as for inimitable selling
experience
 Smart screen, mobile devices are available in stores that provide an option of online
shopping s well at the store.
 The budget of IT is rises at greater level (Sanclemente-Téllez, 2017).
Question 10
Integrated marketing communication program is one of the approaches that used to
achieve the objective of the marketing campaign through well-coordinated use of various
promotional methods such a social media, sales promotion, public relation and so on.
A prodigious instance of small start-up that took off is GoPro themed a current crusade
“Be a Hero”. In such campaign or program, the company is using range of outdoor
advertisement; band related sponsorship as well as even original video of fire-fighter (Batra &
Keller, 2016).

MARKETING & MANAGEMENT 6
References
Armstrong, G. M., Kotler, P., Harker, M. J., & Brennan, R. (2018). Marketing: an introduction.
UK.: Pearson
Batra, R., & Keller, K. L. (2016). Integrating marketing communications: New findings, new
lessons, and new ideas. Journal of Marketing, 80(6), 122-145.
Homburg, C., Jozić, D., & Kuehnl, C. (2017). Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science, 45(3), 377-401.
Patsiaouras, G. (2019). Marketing concepts can have a life of their own: Representation and
pluralism in marketing concept analysis. Marketing Theory, 1470593119865932.
Sanclemente-Téllez, J. C. (2017). Marketing and Corporate Social Responsibility (CSR).
Moving between broadening the concept of marketing and social factors as a marketing
strategy. Spanish Journal of Marketing-ESIC, 21, 4-25.
Zhang, H., Liang, X., & Wang, S. (2016). Customer value anticipation, product innovativeness,
and customer lifetime value: The moderating role of advertising strategy. Journal of
Business Research, 69(9), 3725-3730.