Question

Chapter 1

1. Explain fully superior customer value and synergies.
2. Explain fully corporate strategy and all the components of corporate strategy.
3. Explain fully strategic business unit.
4. Explain fully market segmentation and market segments.
5. Explain fully the designing of market driven strategy.

Chapter 2

6. Identify and explain fully each of Porter’s 5 Forces.
7. Explain fully relative market position and market potential.

Chapter 3

8. Explain fully marketing segmentation including the bases for segmentation.
9. Explain fully marketing sizing, market targeting, and market niche.

Chapter 4

10. Explain fully the CRM levels and the integration of CRM.
11. Explain fully how a CRM supported customer responsive strategy results in competitive advantage.
12. Explain fully the steps to developing a CRM strategy.

Chapter 5

13. Identify the components of the problem definition framework.

14. Discuss fully the 6 considerations in deciding whether to conduct research.

15. Discuss the ethical issues regarding marketing research.

Chapter 6

16. Explain fully the concept of targeting.

17. Explain fully the concept of positioning.   

Answer 1

ANSWER:

In business customer relationships are categorised to be strategic asset. A customer-centric business strategy primarily focuses on creation of customer's value, developing long-term profitable relationships with customers, and providing an exceptional customer experience across all customer touch points, therefore maximizing lifetime value (return on relationship) with customer. Superior customer value results from a very favorable use experience in comparison to the expectations and value offerings of rivals. To create value, a firm may differentiate the product offer, offer reduced prices relative to rival brands, or use a combination of both differentiation and low cost. Synergy can be achieved with sharing of tangible activities across business units. It consists of value-creating activities such as common manufacturing facilities, sales forces, and distribution channels. Sharing activities provide revenue enhancements and cost savings. Cost savings can be achieved from several sources such as eliminating jobs, facilities, and related cost that are no longer required when functions are consolidated.