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Quiz 2

This document contains an 11 question marketing quiz with answers provided by 4 students: Kively Garcia, Tatiana gallego, Carlos Nava, and Christian Soto. The quiz covers key marketing concepts like the 5 Ps of marketing, how marketing relates to sports, using emotion in marketing, consumer research techniques, and tools like SWOT analysis. Examples are provided for many answers to illustrate marketing strategies and campaigns.

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28 views

Quiz 2

This document contains an 11 question marketing quiz with answers provided by 4 students: Kively Garcia, Tatiana gallego, Carlos Nava, and Christian Soto. The quiz covers key marketing concepts like the 5 Ps of marketing, how marketing relates to sports, using emotion in marketing, consumer research techniques, and tools like SWOT analysis. Examples are provided for many answers to illustrate marketing strategies and campaigns.

Uploaded by

tatiana.thelivinglab
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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STRATEGIC MARKETING

Quiz

Names: Date:
10/11/23
Kively Garcia
Tatiana gallego
Carlos Nava
Christian Soto

1. List the 5 ps and why each of them are important.


● PRODUCT: The element of the product refers to the article or service that
a company offers to its customers. The goal is to create a product that
meets the needs and desires of the target market, and that offers a unique
value that is different from its competitors.

● PLACE: The place refers to the location where customers can purchase
the product or service and how they’ll access it. You want to ensure that
the product is easily accessible and available at the right time and place,
for the right people.

● PRICE:It comprehends the cost of goods,profit margins, pricing


strategy,discounts, and promotional offers. The marketing strategy should
set a price that is competitive and reflects the value of the product, while
also aligning with the business profit goals. Alternatively, they may use a
penetration pricing strategy, where they set a low price to gain market
share and attract price-sensitive customers.

● PROMOTION: Promotion refers to the various marketing tactics that a


company uses to promote its products or services. The goal is to create
awareness and interest in the product and persuade customers to make a
purchase. For example, a company may run a social media campaign to
build brand awareness, offer a discount code to encourage sales, or
partner with a celebrity or influencer to promote the product.

● PEOPLE:Lastly, but not less important, the people element is about the
individuals who are involved in the production,distribution, and
consumption of the product or service. Businesses and brands don’t run
by themselves. For example, a company may invest in employee training
and development to improve the quality of its product or service.

2. How is marketing and sports linked?


● The first step that they do is understand who their fans are, what they want and
how they consume sports. They create valuable content where they can engage
more consumers. Build strong relationships with the fans based on all the
information collected they define KPIs for their marketing campaigns to measure
STRATEGIC MARKETING
Quiz

and improve

3. How do marketers use emotion to sell their product or services?


● Emotions play a role in almost everything we do and every decision we make.
Some campaigns capture consumers’ fears.We even have an acronym for that:
FOMO, Derivative of that campaign of fear is also greed and pride.
● From there, you can use emotion to interpose your product through a marketing
campaign that consumers feel speaks directly to them. Emotion is such a strong
force.Human emotion, especially when negative, lingers and is haunting.

4. List 3 companies that use emotional marketing. How is this beneficial?

● Samsung’s good vibes: Creatively use your services to help an


underserved part of your client base and create a campaign around the
solution. Most of Samsung's consumers aren't part of the app's target
market, but the campaign created an emotional appeal that rippled across
their client base. is a two-way communication app that allows the
deafblind to send and receive messages with friends, family or anybody
else through their smartphones.
● Burger King’s day without whopper: is the campaign to support
McDonald's Children with Cancer Day promotion.Every Big Mac sold on
this day goes to charity and it's pretty commendable for Burger King to
help its competition's fundraising. Burger King is one great example of
gamifying marketing communication.
● Heineken’s worlds apart: There’re campaign was brilliant. It's not about
pushing your brand message but more about being invited in by
consumers.

5. Why is cross-cultural important in marketing?


● Interculturality in marketing is important to understand and adapt to cultural
differences, ensuring that messages and strategies are effective in diverse
markets, reaching different audiences, avoiding cultural misunderstandings and
providing an authentic connection to consumers.

6. In consumer analysis, how do marketers create a problem for the consumer?


● Consumer analysis involves understanding their needs, desires and
purchasing behaviors. Marketers can create problem perceptions for
consumers through strategies that highlight drawbacks or dissatisfactions,
thereby stimulating demand for the solutions they offer. This is often done
through advertising campaigns that highlight problems and present
products as effective solutions.

● For example, LG wants to sell its latest smart TV model. In their


advertising campaign, they could highlight the limitations of previous
models, such as shorter battery life or a lower quality screen, thus creating
the perception that consumers have a problem with their current devices.
STRATEGIC MARKETING
Quiz

Then, they present the new TV model to the market as the solution to
these problems, encouraging consumers to update their devices.

7. List 4 things you will have to research in consumer research. For each, explain
why they are important in marketing.
● Research is important in marketing because it reveals valuable
information to adapt products, messages and new strategies to the needs
and behaviors of consumers, which allows increased marketing
effectiveness. The 4 things that should be investigated are:

● Purchasing Behavior: Investigate how consumers make purchasing


decisions, what are the factors that influence their choices and decision
making. This information helps marketers understand what drives
purchasing decisions and adjust strategies to effectively influence those
processes.
● Consumer Needs and Wants: Understanding consumers' needs and
wants is important to developing products or services that satisfy these
needs. This research helps tailor the company's offering to what
consumers want, which can increase customer loyalty to the brand.
● Market Segmentation: Segmenting the market helps personalize
strategies and messages, ensuring they are more relevant and attractive
to specific groups of consumers.
● Reactions to Current Marketing Strategies: Knowing how consumers react
to advertising campaigns, promotions or brand messages helps to adjust
and improve future strategies, thus optimizing marketing efforts.

8. Why is understanding customer needs important? give an example and how we


use it in marketing

● Getting to know the customer needs is very important because based on that you
can provide a specific marketing strategy based on his requirements, with all of
this information we can provide a strategy useful for the product's success.

● Example: Elaborate specific kind of questions to know the customer needs and
provide a specific strategy, once the information is collected we can create the
marketing strategy based on the customer requirements. What kind of
product/service do you want to provide?
Who is the target?
Type of advertising
Channel of advertising
Budget
STRATEGIC MARKETING
Quiz

Price

9. List 3 failed marketing events, what went wrong (paragraph for each)?
● Bud light.- they launched an ad campaign with transgender influencer Dylan
Mulvaney, featuring a custom Bud Light can with her image on it. Social networks
were infested with hate messages against Mulvaney, in the midst of the debate
on the rights of the trans community in the US. Some conservative figures called
for a boycott of the brewery, while characters such as the musician Kid Rock
filmed himself shooting at several cases of this intoxicating beverage.
● H&M – Coolest monkey in the jungle.- After the publication of an image showing
an African-American boy wearing a sweatshirt with the caption 'Coolest monkey
in the jungle' there was a negative response from recipients. H&M chose to issue
a statement to apologize.
● Hershey's.- campaign that had the intention of encouraging good deeds,
however, the company ended up transmitting a message totally contrary to what
they were looking for, causing the indignation of users in social networks for their
racism and classism.

10. What is a SWOT analysis and why is it important?


● It is a tool that can be used to help identify strengths and weaknesses that
directly impact situations in professional and personal life, in this case, within a
company. It is very important as it serves for the evaluation and reflection on the
environment and the operation of the business. It allows you to realize changing
circumstances and the possibilities for improvements or risks, enabling precise
action.

11. From question 11, pick 2 products in the same industry and list their SWOT

● AIR CANADA

Strengths

Extensive Route Network

Modern Fleet

Reputation and Brand

● Opportunities

Market Growth
STRATEGIC MARKETING
Quiz

Strategic Alliances

Emerging Technologies

● Weaknesses

Dependency on the Canadian Market

Vulnerability to External Events

Intense Competition

● Threats

Fuel Price Volatility

Government Regulations

Natural Disasters and Unpredictable Events

● DANONE

Strengths:

Diversified Portfolio of products

Focus on Sustainability

Global Presence

● Opportunities:

Trend towards Healthy Foods

Expansion in Emerging Markets

Technological Innovation

● Weaknesses:
STRATEGIC MARKETING
Quiz

Dependency on Dairy Products

Competition in the Healthy Food Market

Economic Impact

● Threats

Changes in Food Regulation

Global Competition

Global Economic Instability

12. What is brand image and why is it important in marketing?


● Brand image refers to the perception or set of beliefs that consumers have about
a particular brand.
● Consumer Trust and Loyalty: A positive brand image builds trust among
consumers.
● Competitive Advantage: In a competitive market, a strong brand image sets a
company apart from its competitors.
● Perceived Value: A positive brand image can enhance the perceived value of a
product or service.
● Customer Decision-Making: Consumers make purchasing decisions based not
only on product features but also on the overall image of the brand.

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