p.22
Inbound vs Outbound Marketing Strategies
What does inbound marketing aim to address for potential customers?
Their interests or pain points.
p.49
Unique Selling Proposition (USP)
What does USP stand for?
Unique Selling Proposition.
p.36
Strategic Planning and Market Positioning
What is strategic planning?
The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.
p.34
Micro and Macro Environmental Factors
What are core beliefs in the cultural environment?
Beliefs passed on through family and reinforced by institutions.
p.22
Inbound vs Outbound Marketing Strategies
What is the main difference between inbound and outbound marketing?
Inbound focuses on potential customers finding you, while outbound pushes your message in front of them.
p.3
Marketing Environment Overview
What is the marketing environment?
Factors and forces outside of a marketer’s direct control that affect management’s ability to develop and maintain successful transactions with target customers.
p.4
Marketing Mix Concepts (4Ps and 4Cs)
What are the additional Four Cs mentioned?
Clarity, Credibility, Consistency, Competitiveness.
p.3
Environmental Analysis Tools (SWOT, PESTLE)
What analysis tools are used in the micro-environment?
SWOT analysis, Ansoff matrix, and BCG analysis.
p.13
Marketing Mix Concepts (4Ps and 4Cs)
What are some elements that may comprise promotion?
Advertising, direct marketing, public relations, and sales promotion.
p.47
Environmental Analysis Tools (SWOT, PESTLE)
What is the purpose of macro and micro scanning in market research?
To analyze the marketing competitive and product situation.
p.17
Marketing Mix Concepts (4Ps and 4Cs)
What is a common explanation of digital marketing?
Achieving marketing objectives through applying digital technologies.
p.3
Porter's Five Forces Analysis
What does the Five Forces analysis help with?
It helps to understand the competitive forces in the market that affect the organization.
p.47
Environmental Analysis Tools (SWOT, PESTLE)
What does PESTLE or PEST analysis help understand?
Different stages of economic and technological development in various countries and customer needs.
p.15
7Ps and 8Ps in Services Marketing
What is important to diagnose in service processes?
Fail points, critical incidents, and system failures.
p.6
Marketing Mix Concepts (4Ps and 4Cs)
What does 'Place' represent in the 4Cs framework?
Convenience for customers to buy products.
p.22
Inbound vs Outbound Marketing Strategies
What type of content is typically associated with inbound marketing?
Education-based content such as blogs, webinars, and video series.
p.4
Marketing Mix Concepts (4Ps and 4Cs)
What are the Four Ps of the Marketing Mix?
Product, Price, Place, Promotion.
p.3
Micro and Macro Environmental Factors
What is the macro-environment?
Larger societal forces that affect the organization’s microenvironment, analyzed through tools like PEST, PESTLE, or PESTEL.
p.35
Environmental Analysis Tools (SWOT, PESTLE)
What should be identified to match with strengths and weaknesses?
Opportunities and threats.
p.17
Marketing Mix Concepts (4Ps and 4Cs)
How can the 4Ps or 7Ps be applied in digital marketing?
They can be adopted into the digital marketing aspect.
p.31
Micro and Macro Environmental Factors
What are some trends of interest in economic cycles?
Changes in income, continued consumer spending, rising consumer debt levels, and changing spending patterns.
p.14
7Ps and 8Ps in Services Marketing
What is a typical marketing decision related to 'People'?
Staff recruitment and training.
p.5
Marketing Mix Concepts (4Ps and 4Cs)
What are the 4Ps of the marketing mix?
Product, Price, Promotion, Place.
p.11
Marketing Mix Concepts (4Ps and 4Cs)
Why is Price considered a unique variable in marketing?
It is the only variable that has implications for revenue.
p.2
Marketing Environment Overview
What is the marketing environment?
The context in which marketing activities occur, including external and internal factors.
p.17
Marketing Mix Concepts (4Ps and 4Cs)
What does the 'Price' aspect of the Digital Marketing Mix involve?
Pricing policies or models, real-time comparison, and price transparency.
p.2
Marketing Mix Concepts (4Ps and 4Cs)
What is the marketing mix concept?
A framework that includes the 4Ps (Product, Price, Place, Promotion) to strategize marketing efforts.
p.37
Strategic Planning and Market Positioning
What is the primary purpose of a mission statement?
To serve as a guide for what the organization wants to accomplish.
p.7
Micro and Macro Environmental Factors
What are the 5 Cs in Marketing?
Company, Customer, Competitor, Collaborator, and Climate.
p.43
Marketing Mix Concepts (4Ps and 4Cs)
What is the primary service offered by Sun Ferry?
Quality and reliable local ferry services.
p.13
Marketing Mix Concepts (4Ps and 4Cs)
What does the 'Promotion' in the 7Ps refer to?
Marketing communications.
p.31
Micro and Macro Environmental Factors
How do economic cycles affect companies?
Companies are sensitive to changes in the economy, such as inflation rates and recessions.
p.25
Micro and Macro Environmental Factors
What types of forces are included in macroenvironment factors?
Economic forces, natural forces, technology, politics, law, and cultural changes.
p.35
Micro and Macro Environmental Factors
What influences customer needs in different places?
Different stages of economic and technological development.
p.31
Micro and Macro Environmental Factors
What is the impact of rising consumer debt levels?
It indicates potential financial strain on consumers, affecting their spending habits.
p.55
Strategic Planning and Market Positioning
What are the four strategies in Ansoff’s Product Market Expansion Grid?
Market Penetration, Market Development, Product Development, and Diversification.
p.55
Strategic Planning and Market Positioning
What does Market Penetration involve?
Increasing sales of existing products in existing markets.
p.33
Micro and Macro Environmental Factors
What do social factors in marketing encompass?
Demographics, including size, density, location, age, race, sex, occupation, and education.
p.6
Marketing Mix Concepts (4Ps and 4Cs)
What is the focus of 'Promotion' in the 4Cs?
Creating dialogue with potential customers based on their needs and lifestyles.
p.45
Marketing Planning Stages
What is the purpose of a situation analysis in marketing?
To analyze the current market position of the organization.
p.56
Strategic Planning and Market Positioning
Which consulting group is referenced on page 56?
Boston Consulting Group (BCG).
p.4
Marketing Mix Concepts (4Ps and 4Cs)
What do the Four Cs represent in marketing?
Customs wants and needs, Cost to satisfy, Convenience, Communication.
p.50
Unique Selling Proposition (USP)
What does USP stand for?
Unique Selling Proposition.
p.28
Micro and Macro Environmental Factors
How can suppliers affect a company's competitiveness?
By improving costing and quality, and fostering stronger relationships.
p.14
7Ps and 8Ps in Services Marketing
What do the 'People' in the 7Ps of marketing refer to?
Human factors who participate in service delivery.
p.23
Inbound vs Outbound Marketing Strategies
What is a key benefit of inbound marketing?
It is non-invasive, allowing prospects to engage with content at their own pace.
p.43
Marketing Mix Concepts (4Ps and 4Cs)
Which areas does Sun Ferry connect?
Hong Kong, Kowloon, and the outlying islands.
p.11
Marketing Mix Concepts (4Ps and 4Cs)
What is the definition of Price in the context of the 7Ps?
The amount a customer pays for a product and the customer's perceived value.
p.43
Unique Selling Proposition (USP)
What commitment do Sun Ferry's staff uphold?
Sincerity and goodwill in customer service.
p.14
7Ps and 8Ps in Services Marketing
What are some aspects of managing 'People' in service delivery?
Uniforms, scripting, queuing systems, and handling complaints.
p.42
Strategic Planning and Market Positioning
What is the primary mission of KMB?
To enhance shareholder value while contributing to the social and economic development of Greater China.
p.14
7Ps and 8Ps in Services Marketing
What is involved in managing social interactions in service delivery?
Managing interactions between staff and customers.
p.42
Strategic Planning and Market Positioning
List one key aspect of KMB's mission.
Distinctive customer service.
p.17
Marketing Mix Concepts (4Ps and 4Cs)
What does the 'Place' aspect of the Digital Marketing Mix focus on?
Virtual channels and online selling.
p.11
Marketing Mix Concepts (4Ps and 4Cs)
What are some examples of pricing tactics?
Allowances (rebates for distributors), discounts (for customers), and payment terms (credit, payment methods).
p.20
Inbound vs Outbound Marketing Strategies
What are some traditional methods of outbound marketing?
Direct mail, events, billboards, cold calling, newspapers, radio, and TV.
p.41
Strategic Planning and Market Positioning
What is the vision of MTR Corporation?
To be an internationally recognized company that connects and grows communities with caring, innovative, and sustainable services.
p.51
Unique Selling Proposition (USP)
What does USP stand for?
Unique Selling Proposition.
p.34
Micro and Macro Environmental Factors
How do secondary beliefs differ from core beliefs?
Secondary beliefs are more open to change.
p.25
Marketing Environment Overview
What does the marketing environment encompass?
All factors outside your control that affect your company’s success.
p.19
7Ps and 8Ps in Services Marketing
What factors are important in the 'People' aspect of transportation marketing?
Recruitment, training, skills, and experience.
p.15
7Ps and 8Ps in Services Marketing
What does the 'Process' in the 7Ps of marketing refer to?
The procedures, mechanisms, and flow of activities by which a service is delivered.
p.24
Inbound vs Outbound Marketing Strategies
What makes outbound marketing more generalized?
It is difficult to make outbound marketing appealing and relevant to everyone.
p.17
Marketing Mix Concepts (4Ps and 4Cs)
What does the 'Product' aspect of the Digital Marketing Mix refer to?
Virtual products that combine tangibility and intangibility, like airlines.
p.24
Inbound vs Outbound Marketing Strategies
What is a significant time-related challenge in inbound marketing?
It takes a great deal of time and effort to develop and test content that entices customers to convert.
p.30
Macro and Macro Environmental Factors
What are political factors in macroenvironment marketing?
Government actions, rules, and regulations that affect the business environment.
p.24
Inbound vs Outbound Marketing Strategies
How do consumers typically respond to outbound marketing?
They can easily tune it out, often muting TV commercials or sending emails to junk mail.
p.13
Marketing Mix Concepts (4Ps and 4Cs)
What does 'message frequency' refer to?
How often to communicate the message.
p.40
Strategic Planning and Market Positioning
What is a business mission?
A statement that defines the purpose and primary objectives of a company.
p.52
Unique Selling Proposition (USP)
What is the Unique Selling Proposition (USP) of Cathay Pacific?
Cathay Pacific is known for its premium service, extensive route network, and commitment to quality and safety.
p.34
Micro and Macro Environmental Factors
What does the cultural environment influence?
Society’s basic values, perceptions, preferences, and behaviors.
p.27
Micro and Macro Environmental Factors
What is the role of competitors in microenvironment marketing factors?
They have a direct impact on business strategies.
p.7
Environmental Analysis Tools (SWOT, PESTLE)
What is the purpose of an environmental scan in marketing?
To assess key areas applicable to marketing decisions.
p.51
Unique Selling Proposition (USP)
What type of company is MTR Corporation?
A subsidiary focused on public transportation.
p.34
Micro and Macro Environmental Factors
What are cultural forces?
Institutions and other forces that influence cultural values and behaviors.
p.50
Unique Selling Proposition (USP)
What factors should you consider when identifying your ideal customers?
Age, financial situation, geographic location, and needs.
p.35
Micro and Macro Environmental Factors
How is the world described in terms of market dynamics?
The world is getting smaller, with different countries at various stages of economic and technological development.
p.13
Marketing Mix Concepts (4Ps and 4Cs)
What is a typical marketing decision related to promotion?
Promotional mix - the appropriate balance of advertising, PR, direct marketing, and sales promotion.
p.55
Strategic Planning and Market Positioning
What is Ansoff’s Product Market Expansion Grid used for?
It is used to identify growth strategies for a business.
p.15
7Ps and 8Ps in Services Marketing
What are typical marketing decisions related to the service process?
Process design, flowcharting, standardization vs customization decisions.
p.5
Marketing Mix Concepts (4Ps and 4Cs)
What does 'Product' in the marketing mix include?
Quality, design, features, brand name, packaging, sizes, services, warranties, and return policies.
p.44
Marketing Planning Stages
What comes after analyzing the situation in marketing planning?
Identify marketing objectives.
p.5
Marketing Mix Concepts (4Ps and 4Cs)
What factors are considered under 'Price' in the marketing mix?
List price, discounts, allowances, and payment terms.
p.30
Macro and Macro Environmental Factors
How can changes in government regulations impact businesses?
They can introduce quotas, duties/taxes, and technical requirements.
p.47
Strategic Planning and Market Positioning
What are the two strategies mentioned in relation to market entry?
Internationalization and localization.
p.15
7Ps and 8Ps in Services Marketing
What is involved in analyzing resource requirements in service processes?
Resource allocation and performance measurement.
p.40
Strategic Planning and Market Positioning
What is the significance of a business mission for a subsidiary?
It guides the subsidiary's operations and aligns them with the parent company's goals.
p.20
Inbound vs Outbound Marketing Strategies
Which modern technologies are also considered outbound marketing?
Pay-per-click advertising and spam emails.
p.7
Micro and Macro Environmental Factors
What does the 5 Cs framework help analyze?
The internal, micro-environmental, and macro-environmental situation.
p.7
Micro and Macro Environmental Factors
What additional elements are included in the extended 5 Cs framework?
Collaborators and Climate (context).
p.51
Unique Selling Proposition (USP)
What is the USP of MTR Corporation?
MTR Corporation is known for its efficient and reliable public transportation system.
p.28
Micro and Macro Environmental Factors
What role does training and development play in employee performance?
It helps staff work effectively and efficiently, especially in service sectors.
p.27
Micro and Macro Environmental Factors
How can businesses create competitive advantages?
By understanding competitors' marketing mix strategy.
p.25
Micro and Macro Environmental Factors
What are macroenvironment factors?
Big-picture items that affect everyone, such as aging population, global warming, and technology changes.
p.48
Marketing Planning Stages
What do mission statements describe?
The customer orientation or business philosophy.
p.26
Micro and Macro Environmental Factors
Why is understanding customers key for businesses?
It is essential for business success and survival.
p.25
Micro and Macro Environmental Factors
What are microenvironment factors?
Local factors that affect one company but not all, such as issues with suppliers or customers.
p.31
Micro and Macro Environmental Factors
What does continued spending by consumers indicate?
It suggests consumer confidence and a stable economic environment.
p.23
Inbound vs Outbound Marketing Strategies
What is a benefit of outbound marketing regarding results?
It can yield immediate results, prompting interested consumers to take action.
p.13
Marketing Mix Concepts (4Ps and 4Cs)
What is the purpose of a channel/media strategy in promotion?
To determine how to reach the target audience.
p.23
Inbound vs Outbound Marketing Strategies
How can inbound marketing strategies be monitored?
They are quantifiable and can tie each part of the strategy to a metric that is monitored over time.
p.24
Inbound vs Outbound Marketing Strategies
What type of strategy does inbound marketing demand?
A holistic strategy that requires tools for implementing integrated, cross-channel campaigns.
p.5
Marketing Mix Concepts (4Ps and 4Cs)
What does 'Place' refer to in the marketing mix?
Channels, coverage, assortments, locations, inventory, and transport.
p.33
Micro and Macro Environmental Factors
What are some trends of interest in demographics?
World population growth, changing age structure, changing households, higher education, and geographic shifts.
p.2
Unique Selling Proposition (USP)
What are competitive advantages?
Unique attributes or benefits that allow a company to outperform its competitors.
p.42
Strategic Planning and Market Positioning
What type of business practice does KMB promote?
Sustainable business practice.
p.16
7Ps and 8Ps in Services Marketing
What aspects are considered in the spatial layout of a service environment?
Functionality and efficiency.
p.53
Porter's Five Forces Analysis
What influences the 'Threat of Substitutes'?
Relative price performance of substitutes, switching costs, and buyer propensity to substitute.
p.16
7Ps and 8Ps in Services Marketing
What are ambient conditions in the context of Physical Evidence?
Factors like noise, air quality, and temperature that affect the service experience.
p.53
Porter's Five Forces Analysis
What factors determine supplier power?
Differentiation of inputs, switching costs, supplier concentration, and importance of volume to the supplier.
p.53
Porter's Five Forces Analysis
How does brand identity affect buyer power?
Strong brand identity can reduce buyer power by increasing customer loyalty and reducing price sensitivity.
p.36
Strategic Planning and Market Positioning
What does strategic planning aim to align?
The organization's goals and capabilities with changing marketing opportunities.
p.21
Inbound vs Outbound Marketing Strategies
What is the main focus of inbound marketing?
Creating and distributing content that draws people into your website.
p.28
Micro and Macro Environmental Factors
How can skilled employees impact a company's success?
They help the company achieve its goals and objectives.
p.45
Environmental Analysis Tools (SWOT, PESTLE)
What factors are considered in a marketing audit?
External Factors and Internal Factors.
p.43
Unique Selling Proposition (USP)
What is Sun Ferry's corporate mission?
"Customer First and Foremost".
p.4
Marketing Mix Concepts (4Ps and 4Cs)
Who are the authors associated with the Four Cs?
Lauterborn, Jobber and Fahy, Culliton, McCarthy.
p.3
Environmental Analysis Tools (SWOT, PESTLE)
What is PEST analysis used for?
To analyze the macro-environmental factors affecting an organization.
p.23
Inbound vs Outbound Marketing Strategies
How does inbound marketing promote brand awareness?
It can reach people who haven’t heard of the brand before.
p.27
Strategic Planning and Market Positioning
What should businesses aim to do in relation to their competitors?
Understand, beat, and lead the market.
p.23
Inbound vs Outbound Marketing Strategies
What type of content does inbound marketing provide?
Educational content specifically designed for each stage in the sales funnel.
p.6
Marketing Mix Concepts (4Ps and 4Cs)
How does the 'Price' in the 4Cs differ from the traditional 4Ps?
It considers the total cost of ownership and other factors like cost to change and implement.
p.33
Micro and Macro Environmental Factors
What are macroenvironment marketing factors?
External factors that influence marketing strategies, including social, economic, and technological aspects.
p.43
Marketing Mix Concepts (4Ps and 4Cs)
What efforts does Sun Ferry make for passenger experience?
Continuously upgrading services and facilities for optimum performance.
p.15
7Ps and 8Ps in Services Marketing
What should be monitored and tracked in service performance?
Service performance metrics.
p.5
Marketing Mix Concepts (4Ps and 4Cs)
What elements are included in the 'Promotion' aspect of the marketing mix?
Sales promotion, advertising, sales force, public relations, and direct marketing.
p.44
Marketing Planning Stages
What do you design in the fourth stage of marketing planning?
Marketing mix strategies and tactics.
p.42
Strategic Planning and Market Positioning
How does KMB approach innovation?
Through continuous innovation.
p.30
Macro and Macro Environmental Factors
What can businesses do in response to political factors?
They can adapt to changes and implement strategies to mitigate risks.
p.39
Strategic Planning and Market Positioning
What are the two key decisions involved in market positioning?
Choice of target market (where to compete) and creation of differential advantage (how to compete).
p.9
Marketing Mix Concepts (4Ps and 4Cs)
What are the 4Ps in marketing?
Product, Place, Price, Promotion.
p.8
7Ps and 8Ps in Services Marketing
What are the 7Ps in Services Marketing?
Product, Place and Time, Price and Other User Outlays, Promotion and Education, Process, Physical Environment, People.
p.29
Micro and Macro Environmental Factors
What role does media play in managing events and risks?
It helps manage events and risks effectively.
p.16
7Ps and 8Ps in Services Marketing
What are artifacts in the context of Physical Evidence?
Souvenirs and mementos that enhance the service experience.
p.12
Marketing Mix Concepts (4Ps and 4Cs)
What logistics aspects are included in the marketing decision for 'Places'?
Transport, warehousing, and logistics plan.
p.3
Micro and Macro Environmental Factors
What does the micro-environment consist of?
Forces close to the company that affect its ability to serve customers, including tools like SWOT, Ansoff matrix, and BCG analysis.
p.34
Micro and Macro Environmental Factors
What aspects do people's views encompass in the cultural environment?
Themselves, others, organizations, society, nature, and the universe.
p.49
Unique Selling Proposition (USP)
What is Walmart's USP?
Consistent rock bottom prices.
p.49
Unique Selling Proposition (USP)
Can a company have more than one USP?
Yes, it can have multiple unique market positions.
p.6
Marketing Mix Concepts (4Ps and 4Cs)
What does the 'Product' in the 4Cs refer to?
Customers' wants and needs.
p.13
Marketing Mix Concepts (4Ps and 4Cs)
What does 'message strategy' entail in promotion?
Determining what is to be communicated.
p.18
Marketing Mix Concepts (4Ps and 4Cs)
What are key product elements in the transportation marketing mix?
Routing, food (catering), frequency, reliability, responsibility.
p.20
Inbound vs Outbound Marketing Strategies
What is the primary goal of outbound marketing?
To send a message to a large audience in hopes of making sales.
p.18
Marketing Mix Concepts (4Ps and 4Cs)
What factors determine pricing in transportation?
Cost, period, travel purposes, distance, loyalty, internal/external factors, government policy, economy.
p.20
Inbound vs Outbound Marketing Strategies
What is a common belief about the size of the audience in outbound marketing?
The larger the group you message to, the larger the return.
p.23
Inbound vs Outbound Marketing Strategies
What is a consumer perception advantage of outbound marketing?
Consumers are used to it and may trust ads in specific media like newspapers.
p.6
Marketing Mix Concepts (4Ps and 4Cs)
What modern technologies are emphasized in the 'Place' aspect of the 4Cs?
Technologies that promote convenience in buying and finding information.
p.44
Marketing Planning Stages
What is prepared in the fifth stage of marketing planning?
Marketing plan with timing and action.
p.16
7Ps and 8Ps in Services Marketing
What does Physical Evidence refer to in the context of the 7Ps?
The space and environment where service interactions occur, including tangible elements like equipment and furniture.
p.33
Micro and Macro Environmental Factors
What impact does higher education have on demographics?
It influences the occupation and economic status of the population.
p.8
7Ps and 8Ps in Services Marketing
What is the 8th P added to the traditional 7Ps in Services Marketing?
Productivity and Quality (or Packaging).
p.9
Marketing Mix Concepts (4Ps and 4Cs)
What is meant by 'Price' in the 4Ps?
The amount charged for a product or service.
p.8
7Ps and 8Ps in Services Marketing
What does 'Promotion and Education' encompass in the context of Services Marketing?
Strategies to inform and educate customers about the service.
p.53
Porter's Five Forces Analysis
What is the impact of switching costs on buyer power?
Higher switching costs can decrease buyer power as it makes it more difficult for buyers to change suppliers.
p.12
Marketing Mix Concepts (4Ps and 4Cs)
What does the term 'Places' refer to in marketing?
Providing customers access and convenience.
p.49
Unique Selling Proposition (USP)
How can a USP increase a company's competitiveness?
By creating specific benefits and uniqueness.
p.35
Environmental Analysis Tools (SWOT, PESTLE)
What is the purpose of macro and micro scanning in market research?
To analyze the marketing competitive and product situation.
p.31
Micro and Macro Environmental Factors
What are macroenvironment marketing factors?
External factors that influence a company's marketing strategy, including economic cycles.
p.17
Marketing Mix Concepts (4Ps and 4Cs)
What is the Digital Marketing Mix fundamentally based on?
It is fundamentally the same as the Marketing Mix.
p.26
Micro and Macro Environmental Factors
What type of services should businesses provide to enhance customer satisfaction?
After sales services and value-add services.
p.49
Unique Selling Proposition (USP)
What should a company aim to be in terms of specialization?
A specialist, not a generalist.
p.19
Marketing Mix Concepts (4Ps and 4Cs)
What does productivity and quality in transportation focus on?
Key Performance Indicators (KPI) and safety.
p.50
Unique Selling Proposition (USP)
What is a key step in differentiating yourself in the market?
Communicate with your market.
p.43
Strategic Planning and Market Positioning
What is Sun Ferry's goal in the maritime transport industry?
To be a leader in line with the city’s development.
p.11
Marketing Mix Concepts (4Ps and 4Cs)
What are typical marketing decisions related to Price?
Price strategy, price tactics, and price setting.
p.44
Marketing Planning Stages
What is the third step in the marketing planning process?
Select and quantify target markets.
p.55
Strategic Planning and Market Positioning
What is Market Development in Ansoff’s Grid?
Introducing existing products to new markets.
p.18
Marketing Mix Concepts (4Ps and 4Cs)
What does 'Place' refer to in the transportation marketing mix?
Direction, direct/indirect service points, privilege.
p.15
7Ps and 8Ps in Services Marketing
What are key performance indicators (KPIs) used for?
Creation and measurement of service performance.
p.37
Strategic Planning and Market Positioning
What is the ideal scope of a mission statement?
It should be neither too narrow nor too broad.
p.10
Marketing Mix Concepts (4Ps and 4Cs)
What are guarantees and warranties related to products?
Promises made by the seller regarding the quality and longevity of the product.
p.8
7Ps and 8Ps in Services Marketing
What role does 'Physical Environment' play in Services Marketing?
It includes the tangible aspects that influence customer experience.
p.8
7Ps and 8Ps in Services Marketing
Why are 'People' considered a crucial element in the 7Ps of Services Marketing?
They represent the staff and customers involved in the service process.
p.12
Marketing Mix Concepts (4Ps and 4Cs)
What are some typical marketing decisions related to distribution?
Strategies such as intensive distribution, selective distribution, exclusive distribution, and franchising.
p.19
Marketing Mix Concepts (4Ps and 4Cs)
What does the marketing mix in transportation processes include?
Providing and supplying inputs to enhance processes and deliver outputs, including information, ticketing, help desks, and complaints.
p.26
Micro and Macro Environmental Factors
What should businesses consider to attract and retain customers?
The wants and needs of customers.
p.14
7Ps and 8Ps in Services Marketing
How do 'People' represent value to customers?
They interact between customers and provide service.
p.24
Inbound vs Outbound Marketing Strategies
What is a key challenge of inbound marketing?
Requires continuous maintenance to ensure content meets consumers' evolving wants and needs.
p.48
Marketing Planning Stages
What do corporate objectives state?
The overall goals to be achieved in financial terms.
p.47
Environmental Analysis Tools (SWOT, PESTLE)
What should be identified to match with strengths and weaknesses?
Opportunities and threats.
p.38
Strategic Planning and Market Positioning
What role do mission statements play in strategic planning?
They guide the development of objectives and goals.
p.50
Unique Selling Proposition (USP)
What should be clear when defining your USP?
The key benefit for your business.
p.38
Strategic Planning and Market Positioning
At what level are objectives developed in an organization?
At each level in the organization hierarchy.
p.47
Micro and Macro Environmental Factors
What is a significant trend affecting global markets?
The speed of globalization.
p.2
Environmental Analysis Tools (SWOT, PESTLE)
What are marketing analysis tools used for?
To assess market conditions and inform marketing strategies.
p.10
Marketing Mix Concepts (4Ps and 4Cs)
What does the term 'Products' refer to in the 7Ps framework?
An item that satisfies the consumer’s needs and wants, which can be tangible or intangible.
p.37
Strategic Planning and Market Positioning
How should mission statements be oriented?
They should be market-oriented rather than product-oriented.
p.6
Marketing Mix Concepts (4Ps and 4Cs)
What forms of communication are included in the 'Promotion' of the 4Cs?
Advertising, public relations, personal selling, and viral advertising.
p.53
Porter's Five Forces Analysis
What does the 'Bargaining Power of Buyers' refer to?
The ability of buyers to influence the price and terms of purchase.
p.29
Micro and Macro Environmental Factors
How does media and social media contribute to marketing?
They help build and maintain a positive public relationship with the market.
p.29
Micro and Macro Environmental Factors
What is a key benefit of media in marketing?
It creates market exposure and helps reach the target market.
p.32
Macro and Macro Environmental Factors
How do legal factors impact businesses?
They can affect business sustainability, such as in the scrap business.
p.17
Marketing Mix Concepts (4Ps and 4Cs)
What is unique about the 'Promotion' aspect in digital marketing?
It is boundaryless and can reach any people globally.
p.2
Strategic Planning and Market Positioning
What is time-based competition?
A strategy that focuses on reducing the time taken to deliver products or services to gain a competitive edge.
p.55
Strategic Planning and Market Positioning
What is Diversification in the context of Ansoff’s Grid?
Introducing new products to new markets.
p.44
Marketing Planning Stages
What is the final stage of marketing planning?
Monitor and control actual results.
p.2
Strategic Planning and Market Positioning
What are the steps to develop market positioning?
Identifying target markets, analyzing competitors, and defining a unique value proposition.
p.9
Marketing Mix Concepts (4Ps and 4Cs)
What does 'Product' refer to in the 4Ps?
The goods or services offered to meet customer needs.
p.9
Marketing Mix Concepts (4Ps and 4Cs)
What does 'Place' signify in the 4Ps?
The distribution channels and locations where products are available.
p.53
Porter's Five Forces Analysis
What are entry barriers in an industry?
Factors that make it difficult for new competitors to enter the market, such as economies of scale and capital requirements.
p.46
Environmental Analysis Tools (SWOT, PESTLE)
What is a weakness of the airline?
No take-off or landing slots.
p.12
Marketing Mix Concepts (4Ps and 4Cs)
What is important in channel member selection?
Channel member relationships.
p.30
Macro and Macro Environmental Factors
Why is political stability important for businesses?
It helps in predicting and taking precautionary measures.
p.24
Inbound vs Outbound Marketing Strategies
Why is measuring the effectiveness of inbound marketing challenging?
It is harder to measure results compared to outbound marketing.
p.5
Marketing Mix Concepts (4Ps and 4Cs)
What is the purpose of the marketing mix?
To pursue marketing objectives in the target market.
p.15
7Ps and 8Ps in Services Marketing
What should be aligned with best practices in service processes?
Operations manuals and process design.
p.16
7Ps and 8Ps in Services Marketing
What are some typical marketing decisions related to Physical Evidence?
Facilities, spatial layout, signage, interior design, ambient conditions, design of livery, and artifacts.
p.16
7Ps and 8Ps in Services Marketing
What role does signage play in Physical Evidence?
It provides directional guidance and communicates information through symbols and other signage.
p.53
Porter's Five Forces Analysis
What are some determinants of rivalry in an industry?
Industry growth, fixed costs, product differences, brand identity, and exit barriers.
p.16
7Ps and 8Ps in Services Marketing
What is meant by the design of livery in Physical Evidence?
The design of stationery, brochures, menus, and other branded materials.
p.9
7Ps and 8Ps in Services Marketing
What is meant by 'Physical Environment' in the 8Ps?
The tangible aspects of the environment where the service is delivered.
p.46
Environmental Analysis Tools (SWOT, PESTLE)
What threat involves market share for the airline?
Euro-Star capturing market shares.
p.32
Macro and Macro Environmental Factors
How do technological factors affect businesses?
They affect products and processes, leading to rapid changes and improved business productivity.
p.55
Strategic Planning and Market Positioning
What does Product Development entail?
Creating new products for existing markets.
p.39
Strategic Planning and Market Positioning
What is the primary goal of market positioning?
To differentiate from competition on attributes that target customers highly value.
p.10
Marketing Mix Concepts (4Ps and 4Cs)
What aspects are included in product assortment?
Product range, product mix, and product lines.
p.53
Porter's Five Forces Analysis
What are the five forces in Michael Porter's Five Forces model?
New Entrants, Buyers, Suppliers, Substitutes, Industry Competitors.
p.42
Strategic Planning and Market Positioning
How does KMB aim to meet stakeholder expectations?
Through the provision of high-quality services and solutions.
p.29
Micro and Macro Environmental Factors
What pressure do shareholders exert in microenvironment marketing?
They seek returns on their investment.
p.29
Micro and Macro Environmental Factors
How does media influence brand image?
It aids in brand image building.
p.9
7Ps and 8Ps in Services Marketing
What does 'Process' refer to in the 8Ps?
The procedures and flow of activities involved in delivering the product.
p.46
Environmental Analysis Tools (SWOT, PESTLE)
What is a strength of the airline according to the SWOT analysis?
Strong financial position.
p.32
Macro and Macro Environmental Factors
What benefits can rapid technological changes bring to a business?
Cost effectiveness and improved productivity.
p.18
Marketing Mix Concepts (4Ps and 4Cs)
What are the main promotional strategies in transportation marketing?
Advertising, personal selling, promotion, public relations, responsible solutions, image/reputation.
p.42
Strategic Planning and Market Positioning
What commitment does KMB make regarding environmental issues?
Environmental responsibility.
p.33
Micro and Macro Environmental Factors
How is the age structure changing in Hong Kong and China?
There is a notable shift in the age demographics.
p.39
Strategic Planning and Market Positioning
What does 'choice of target market' refer to in market positioning?
It refers to where to compete.
p.33
Micro and Macro Environmental Factors
What does the term 'geographic shifts' refer to in demographics?
Changes in population distribution across different regions.
p.8
7Ps and 8Ps in Services Marketing
Why is the concept of 8Ps important in Services Marketing?
They work in unison to enhance service delivery and customer satisfaction.
p.9
Marketing Mix Concepts (4Ps and 4Cs)
What does 'Promotion' encompass in the 4Ps?
The activities that communicate the product's benefits and persuade customers.
p.8
7Ps and 8Ps in Services Marketing
How does 'Process' fit into the 7Ps framework?
It refers to the procedures and flow of activities in service delivery.
p.32
Macro and Macro Environmental Factors
What do technological factors in macroenvironment marketing rely on?
Current, available, and changing technology.
p.10
Marketing Mix Concepts (4Ps and 4Cs)
What are typical marketing decisions related to product?
Product design (features, quality), branding, packaging, label, product assortment, and managing product through the life cycle.
p.24
Inbound vs Outbound Marketing Strategies
What are some costs associated with outbound marketing?
Costs can include traveling to trade shows, paying for banner ads, and purchasing billboard spaces.
p.37
Strategic Planning and Market Positioning
What quality should mission statements possess to inspire stakeholders?
They should be motivating.
p.8
7Ps and 8Ps in Services Marketing
What does the 'Place and Time' element refer to in the 7Ps?
The location and timing of service delivery.
p.9
Marketing Mix Concepts (4Ps and 4Cs)
What are the 8Ps in marketing?
Product, Place, Price, Promotion, Process, Physical Environment, People, Productivity and Quality.
p.12
Marketing Mix Concepts (4Ps and 4Cs)
What factors are considered in market coverage decisions?
Assortment, location decisions, and inventory.
p.37
Strategic Planning and Market Positioning
What should mission statements align with?
They should fit with the market environment.
p.39
Strategic Planning and Market Positioning
What does 'creation of differential advantage' mean?
It refers to how to compete.
p.53
Porter's Five Forces Analysis
What factors determine buyer power?
Buyer concentration vs. firm concentration, buyer volume, switching costs, buyer information, and ability to backward integrate.
p.16
7Ps and 8Ps in Services Marketing
How does interior design contribute to Physical Evidence?
Through elements like furniture and color schemes that enhance the service environment.
p.9
7Ps and 8Ps in Services Marketing
What role do 'People' play in the 8Ps?
The staff and customers involved in the service delivery.
p.32
Macro and Macro Environmental Factors
What are legal factors in macroenvironment marketing?
Legal factors refer to the susceptibility of a company to legal changes that can affect business sustainability.
p.9
7Ps and 8Ps in Services Marketing
What does 'Productivity and Quality' refer to in the 8Ps?
The efficiency of service delivery and the standard of service provided.
p.46
Environmental Analysis Tools (SWOT, PESTLE)
What is a weakness regarding ticket sales for the airline?
Poor network of ticket agents.
