Question

1. Holistic Marketing:
   1. Describe the premise of the Holistic marketing orientation.
   2. List and describe the four main dimensions of holistic marketing.
   3. Then discuss the impact of these elements on customer value.

2. Value Chain: DK Books hesitated to build an online presence until Amazon.com’s success was too great to ignore. They originally feared that their network of hundreds of “bricks-only” stores would suffer sales losses due to the Web site competing with the stores. When the decision was finally made, DK decided that the proper business model was to make a vast inventory of books and music available online for market prices. They also began selling through distributors such as Wal-mart, and to wholesalers who resell to chains, such as Barnes and Noble.
   1. Name the two groups of activities in the value chain. Then list and describe each of the activities included in each group.  
   2. Discuss how this tool is helpful for marketers and what it achieves.
   3. Using a value chain analysis, specifically identify the activities from the scenario above that relate to the value chain.

3. Marketing Research: The owners of the 21,900 funeral homes in the United States are experiencing tremendous changes in their industry. Fewer families today are having bodies embalmed and displayed at a service. Of those who choose burial, many are shopping at retail and mail order casket dealers, not at the funeral home as used to be the custom. Another change is the fact that many people want personal touches and trendy tributes in their funeral services. A growing number are choosing cremation rather than burial. Today almost a quarter of the nation’s 2.3 million annual deaths are cremated.
   1. List each step in the marketing research process.
   2. Include specific details on each step for a funeral home that would provide the information needed to determine future action (based on the details above)
   3. Describe what the final information will include and how it will reduce uncertainty.

4. Customer Value: Under the management of Garrison Cox, ComfortEase Mattress company, Inc. has been losing business for several years to its competitors. Cox was recently replaced by Fred Wilson as CEO of the 78-year-old firm. Wilson implemented a new corporate-wide focus on the customer and on quality and the new CEO began by challenging his marketing team to increase customer value through product improvement while lowering customer costs – monetary and otherwise. His second step was to focus on his company’s primary activities; logistics, operations, service, etc. He also wanted to know how satisfied ComfortEase’s customers really were. Wilson was especially interested in learning what mattress former customers were now using. After a great deal of work and a careful analysis of the information gathered, his marketing team recommended that ComfortEase implement a program offering rewards to their most profitable customers.
   1. Discuss efforts Wilson is undertaking in the area of building customer relationships, and additional efforts he could be taking as well.
   2. Define satisfaction and discuss the connection between expectations and satisfaction.
   3. Include a discussion of his efforts toward increasing customer satisfaction including elements you discussed in part a above.

5. Sean McDermott is shopping for a new car. He is 38 years old and very concerned about receiving value for his money. He believes cars are transportation and should be driven until they fall apart. He must have a vehicle that is large enough to hold his two teenagers comfortably.
   1. Discuss the household life cycle and how it is related to the family life cycle.
   2. Describe the stage in the household life cycle that Sean likely falls into.
   3. Discuss how a knowledge of the household life cycle can help a marketer in communicating with Sean about a new car purchase.

6. A group of investors are starting a for-profit college to be called Haven University. They have identified a small segment of society that is displeased with the high cost of college and is willing to forego all social and sporting extracurricular activities in order to get an inexpensive, quality education in four years. The university investors will advertise nationally. Its target audience is individuals between 22 and 30 years of age who have either not started earning a college degree or who did not finish one they began in the last ten years. The investors want to attract students who are currently working at a job with which they are dissatisfied. Haven will only offer three degree programs, which cannot be modified to individual student needs. Research has shown that these are degrees that this market segment repeatedly seeks. Students can earn their degrees over the Internet and only have to attend a one-week seminar on campus twice a year.

1. Markets can be segmented at several levels. Describe each level and explain the benefits associated with segmenting the market at each one.
2. Identify the level of segmentation that is being used in the above scenario and specifically describe why.
3. There are several bases for segmenting consumer markets. Identify each basis and include examples of variables that would be included in that basis.
4. From the above scenario, identify which bases are being used, and which specific variables are being used to segment the market.

                                                                     

Answer 1

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Question 1

Holistic marketing orientation

a)    Holistic marketing is a vital concept in sales and marketing that refers to a strategy that considers the premise as a whole and not an entity constituting many departments. The concepts recognize the general business operation as a single project no matter the numerous department in a business firm the United States operation is crucial for solid business image creation among the esteemed customers (Sidorchuk, 2016). A business enterprise may constitute the finance, sales and marketing, accounting and product development operations. Holistic operation advocates for close and consultative operations among the departments to achieve the mission, vision, goals and objectives of the enterprise.

Dimensions of holistic marketing

b)    There are necessary dimensions of marketing critical in the implementation of marketing programs. The various dimensions that every effort matters in marketing and an integrated perspective is always important. The dimensions include;

•    Integrated marketing

•    Relationship marketing

•    Performance marketing

•    Internal marketing

Integrated marketing approach involves assembling of marketing programs by the marketer to communicate, create and deliver quality services to the consumers. The firm is required to design then implement the marketing activities no neglecting any in the list; it works on the principle of that the whole is greater than the sum of parts. The relationship concept aims at developing a good relationship with all parties that can influence the success of the business. The mutual partnership involves customers, members of the financial community and other marketing partners such as the suppliers.

Performance marketing includes understanding all aspects of the enterprise. This includes both the non-financial and financial returns of the marketing programs. It involves consideration of legal, social and ethical issues that affects the performance. Internal marketing involves the responsibility of recruiting, educating and reinforcing employees to serve customers to satisfaction.

Impact on customer values

c)    All the dimensions form the backbone of enterprise success in business. The good relationship with the customers promotes trust and builds the partnership .performance issues will also promote the firm output that will improve the value received by the customers. The exclusive partnership creates impact in consumer satisfaction.

Question 2

a)    The two groups of activities I the value chain include primary and support activities. The primary activities. The main activity is sales and marketing of the company. The DK Books Company has devised a strategy to enhance the availability of inventory books and music available for market prices (Hair and Lukas, 2014). Other support activities include outbound logistics involving the selling of the books through distributors and wholesalers such as Wal-Mart and Barnes and Noble.

b)    The value chain is vital in marketing as it will enable the company to maximize profitability and efficiency. The tool enables the marketers to monitor and closely implement the activities of the company for the purpose of value. Addressing the issues of logistics, operation, procurement and infrastructure is important in adding the value to the product. This enhances satisfaction.

c)    The DK Books Company carries some primary activities such as the online sales and marketing of their product. The use development of the technology is also a crucial pillar in the value chain. Outbound logistics such leasing of the goods to distributors and wholesalers is also evident.

Question 3

a)    The research process involve the following steps

•    Definition of objectives

•    Determination of research design

•    Designing and preparation of instruments

•    Sampling and data collection

•    Analysis

•    Visualization and communication of results

b)    Lee Funeral Home

The objective is to expand the market coverage of the funeral home. The research design will involve market exploration so as to solve the market problem. Convincing the consumers on the need for the services will assist. Random interview on individual and use of questionnaires to research on consumer’s desire are appropriate methods of data collection. Data sampling can be done at meetings and other online platforms. Data analysis the review of the results on the best strategy on funeral services will follow. The systematic and oriented approach will boost the services (Roberts and Kayande, 2014).

c)    Other final information includes how the service will impact the people. The flexibility and cost that is affordable to the consumers. A promise of quality services is also necessary.

Question 4

a)    Satisfaction refers to the ability of the business enterprise to provide high quality services that meet the needs of the consumers. The expectations of the consumers must be considered for consumer satisfaction all the times. The two directly relates and are crucial in operation (Oliver, 2014).

b)    Wilson the new CEO Comfort Ease Mattress Company first effort to advocate for product improvement while lowering the costs at the company is good. Focusing on the logistics, operations and service provision another positive effort. Exploring in customers interest as he will promote the relationship. Other additional efforts are supported activities such as the human and resource sector improvement.

c)    Involving the employees in product improvement enhance production of consumer friendly services. Offering the best and affordable services will help increase consumer satisfaction. Provision of rewards to profitable customers is a better strategy. Involving technology facilitates efficient sales and marketing operations. Offering high quality and price corresponding service will improve the customer satisfaction.

Question 5

a)    The concept of the household life cycle is a broader concept of the family lifecycle. The lifecycle involves the transitions in products expenditures that one may pass through (Lockrey, 2015). The two concepts directly relate since the series of changes that the family undergo will affect future expenditure in the case scenario of Sean McDermott we realize the value and size of the car he wants to purchase directly relate to his preference and family size of two teenagers.

b)    Sean McDermott family is still at the full nest stage of family life. The family has two teenagers who still live with him at home. The marketing consideration should consider this to make the best purchase decision.

c)    The knowledge on household marketing will enhance proper counseling of the customers by the marketers. In the case scenario, the marketer must understand Sean’s life cycle and advice the best product. The solution must consider the value preference of the customer in a discussion.

Question 6

a)    The levels of market segmentation include mass, segment, niche, local and individual direct marketing. Mass marketing involves mass production while the segment criterion involves dividing the markets into segments depending on consumer behavior in a niche, the marketer concentrates on a specific segment (Dolnicar et al., 2014). The local marketing targets local market while the individual direct marketing directly involves the consumers such as using salesperson and agents.

b)    The case scenario of Haven University displays niche level of market segmentation. The proposed project is directly targeting a specific population. The target covers the youth and dissatisfied but employed young adults. The specificity of the upcoming college solely suits that level.

c)    The bases of market segmentation include geographical bass, population characteristics and or their relationship with the firm, product or institution. The variables of geographical include location. The age of the target population for instance 22-30 years as in the case scenario. The relationship with the product is also crucial. The population in question is still academically oriented, and the enterprise is relevant in their case.

d)    The scenario has used various bases in segmentation. These include the population, the geographical basis, and the consumer demand. The proposed Haven University targets youths between 22-30 years old currently dissatisfied with their employment. The proposed plan is n demand in the current world. The criterion is specific directly targets a specific market of interest.

Reference

Dolnicar, S., Grün, B., Leisch, F., & Schmidt, K. (2014). Required sample sizes for data-driven market segmentation analyses in tourism. Journal of Travel Research, 53(3), 296-306.

Hair Jr, J. F., & Lukas, B. (2014). Marketing research. McGraw-Hill Education Australia.

Lockrey, S. (2015). A review of life cycle based ecological marketing strategy for new product development in the organizational environment. Journal of Cleaner Production, 95, 1-15.

Oliver, R. L. (2014). Satisfaction: A behavioral perspective on the consumer. Routledge.

Roberts, J. H., Kayande, U., & Stremersch, S. (2014). From academic research to marketing practice: Exploring the marketing science value chain. International Journal of Research in Marketing, 31(2), 127-140.

Sidorchuk, R. (2016). Holistic Marketing Concept for Small and Medium Businesses. Annals of marketing-mba, 2.