Explain product positioning. Discuss whether it is necessary to position a product or can a product succeed in the market without a formal positioning strategy?
Q1. ‘Why bother target marketing? By marketing my product to the entire market, I have a greater chance of success.’ Discuss this statement by comparing the benefits of using targeting as opposed to not using it. Your discussion should demonstrate the link between targeting and the overall role and philosophy of marketing. Illustrate your answer with a company of your choice.
Q2. Explain product positioning. Discuss whether it is necessary to position a product or can a product succeed in the market without a formal positioning strategy? Use examples to illustrate.
Q3. Having identified the major customer segments in a market, a company must select its target or targets. What criteria might it use to do this? Provide examples.
Q4. Describe the communication process, and the various steps between the sender and the receiver. Discuss whether this process is necessary in the development of a communication strategy. What are the potential benefits of using the process and potential downfalls of not using it? Use examples to illustrate.
Q5. ‘Channels of distribution do not differ for goods and services.’ Discuss, using examples to illustrate why this may or may not be true.
Q6. ‘Why is it necessary to have intermediaries between a manufacturer and the consumer? Who needs wholesalers, retailers and agents when the manufacturer can sell the product direct?’ Discuss whether or not this is a valid suggestion. In your discussion you will need to link the channel concept to the overall role and philosophy of marketing. Use examples to illustrate.
Q7.Describe the consumer decision-making process. Explain in what ways the consumer decision-making process might change when it is applied to a high versus low involvement product. Use an example to illustrate your answer.
Q8. Whether you are marketing products or marketing services, the approach is identical.’ Discuss and explain why this statement may or may not be true. Use examples and specific details from the 7Ps to illustrate.
Q9. Compare and contrast between a skimming price policy and penetration pricing. When would each be appropriate? Illustrate using examples.
