Mktg 600 Managerial Marketing - Assessment Answers

Part A

Q1). You have been hired to develop a marketing plan for David Jones, who are losing market share because of their reluctance to adopt online sales. Write a memo to David Jones’ management outlining a marketing plan to improve their sales, including the specific advantages of target marketing and the consumer decision making process. Suggest three market segments they should target and define them in operational terms.

Q2) Goods and services differ on many aspects, yet they have much in common too. Discuss this statement, assuming that you are the marketing manager for a new restaurant in Melbourne. What is their marketing mix? Relate this to the product/market expansion grid and to suggest ways that this can be used to promote your restaurant.

Part B

Q3). What information will you need to include in a MIS (Marketing Information System) for the global airline Qantas? How can Qantas use marketing research to better understand their current market? Suggest one qualitative and one quantitative method they should use, and justify your choice.

Q4). According to some marketers, promotions are the most important element in the 7 P’s of the marketing mix. Consider why some marketers say this, and provide three examples to illustrate why promotions may be the most important element.

Q5). What is the significance of family life cycle and lifestyle in understanding consumer behaviour, especially consumption? How can these variables be used to promote products in the growth stage of the PLC?

Q6). Explain how the business market differs from the consumer market for products such as motor vehicles. In doing so consider the key differences between business purchasing and consumer purchasing

Answer:

Part A

Q1. In order to enhance the overall sales and market share of David Jones, the company is suggested to incorporate the practices of online selling. Implementation of effective marketing strategy by analyzing the potential customers and market-leading products will further facilitate the organization in gaining competitive advantage in the market.

Q2. There is no denying the fact that goods and services vary in many aspects, but the only common ground between both is customer's expectation of being cost-effective. As a marketing manager of a restaurant in Melbourne, the restaurant is recommended to provide effective and efficient services to the customers.

Part B

Q3. Considering the contemporary market situations of Qantas Airline, the company should strictly emphasize the implementation of effective MIS. Furthermore, the company is also advised to understand the policies of better customer service by using traditional academic policies. Also, implications of survey questionnaire method will also facilitate the proposed objective.

Q4. Out of the 7P's of marketing mix practices, promotion is considered as the most significant factor due to its contribution to the overall development of the organizational development practices. Along with this, it also assists the organization in making the product and services accessible to every customer.

Q5. Understanding of consumer behavior is a crucial factor in every business. Therefore, it is necessary to understand the family life cycle and lifestyle of the target customers, which can further aid the company in determining the effective marketing policies and business development strategies.

Q6. In the sector of motor vehicles, business market is defined as the sale and purchase of products or service by one organization to another, which will be used either for reselling or for business development. However, the consumer market is defined as the market practices in which goods and services are transited between organizations and multiple customers.