Bus 311 Week 3 Quiz

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19.11.2014 GEDIZ UNIVERSITY Faculty of Economics and Administrative Sciences Department of Business Administration BUSG 311 Midterm Examination -A |Name & Surname : | |Student Number : | 1) What are three policy alternatives in global pricing available to a marketing manager; explain only one of them. Answer: Extension or Ethnocentric, Adaptation or Polycentric, Geocentric. 2) Show product-market strategies on a matrix and then explain each by providing examples.…show more content…
It then chooses one of four marketing strategies–ranging from very broad to very narrow targeting. The seller can ignore segment differences and target broadly using undifferentiated marketing. This involves mass producing, mass distributing, and mass promoting about the same product in about the same way to all consumers. The seller can also adopt differentiated marketing–developing different market offers for several segments. Concentrated marketing involves focusing on only one or a few market segments. Finally, micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. Micromarketing includes local marketing and individual marketing. Which targeting strategy is best depends on company resources, product variability, product life-cycle stage, market variability, and competitive marketing…show more content…
Marketers want to reinforce and retain regular users, attract targeted nonusers, and reinvigorate relationships with ex-users. Included in the potential user group are consumers facing life-stage changes–such as new parents and newlyweds–who can be turned into heavy users. For example, to get new parents off to the right start, P&G makes certain its Pampers Swaddlers are the diaper provided for newborns at most U.S. hospitals. 9) Differentiate between line extensions and brand extensions. Provide an example of each. Answer: Line extensions occur when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category. Thus, the Cheerios line of cereals includes Honey Nut, Frosted, Yogurt Burst, MultiGrain, Banana Nut, and several other
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