Marketing Class Final Prompts
There are four prompts in the attachment (the first question can be found through out the first few slides)
**The company that I have chosen is Apple, Inc.
so answer the prompts around Apple, Inc.
Answer each prompt in paragraph format, follow the questions in the slides. The questions are shown( some slides repeat each part of the question)
Write one page for each prompt covering the powerpoint slides and use examples in the required reading
The powerpoint slides basically asks the question and offers the answer, so write what the slide is telling you and pull examples from the text books and Apple, Inc
Required Books
Use examples from the following text books:
Marketing: An Introduction, 12th ed. by Armstrong and Kotler
Positioning: The Battle For Your Mind Trout and Ries, McGraw-Hill, 2000.
The following are the questions to prepare for your second exam. On the two exam days we will randomly select among the four questions - the quantity of questions will be determined on exam day. Please answer each question as thoroughly as possible, providing rich detail from our lectures, readings, and discussions. The organization of your answers, the complexity of your analysis, and the clarity of your critical thinking are the key elements of your evaluation. You will need a clean blue book for each day.
1. On Pricing a.
Define and discuss the difference between value-based pricing and cost-based pricing. What are strengths and weaknesses of each method? Explain in detail.
b. Describe how your project company currently prices its main products or services. Is this the best method? Why or why not?
i. Comment on the traditional approaches of skimming and penetrating in your discussion as they would apply to your product/brand/company.
• We recognize that you are marketing an existing product, but at one point the product was new and your current product will certainly experience a revival.
2. On Distribution - a. How does a vertical marketing system differ from a horizontal marketing system? Explain in detail. i. What system best describes your project company's distribution approach? b. Identify your company's primary marketing channel's strengths and weaknesses? i. Include an analysis on where you think your company can cut costs while also providing more value from manufacturing to final retail.
• Recall that the many channels along the way are most often separate businesses each trying to maximize value for its own customer while also maximizing profit for itself. Think of this important phenomenon as you shape your discussion on distribution management.
3. On Promotion - a. Provide a concise and precise overview of the five elements of the promotion mix as they apply to your project company. i. Additionally, how might the leveraged sales approach strengthen your current sales strategy? Be specific to your project company.
b. Recalling our earlier theme of brand's driving business and marketing, clarify your project company's brand vision, brand personality and brand positioning - be specific as you describe this important brand management model.
c. When launching a new brand, we discussed in lecture that it is best to build the brand first with PR, and then sustain it with advertising if necessary. Explain this reasoning by providing support from the readings. i. Pull from Berger's Contagious to further support your discussion.
4. On the Global Marketplace - a. Defend or reject or modify Levitt's bold assertions below on the nature of the global firm. Consider your marketing plan company as a reference point to help build your discussion.
i. The world's needs and desires have been irrevocably homogenized. This makes the multinational corporation obsolete and the global corporation absolute.
ii. Technology drives consumers relentlessly toward the same common goals - alleviation of life's burdens and expansion of discretionary time and spending power.
iii. Cultural preferences follow one of two paths: they eventually lose relevance to economic decision making, or they diffuse to other groups and become the substance of global trends.
b. Lastly, identify and discuss the main globalization opportunity or challenge impacting your project company. What must be done to strengthen the global position of your company's brand?
i. Pull from Holt, et al's How Global Brands Compete to further support your discussion.