Marketing Management

What is a global firm? A firm that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages not available to purely domestic competitors. A firm that operates in more than one country and has a sales and marketing staff in those countries. ) A firm that sells its products and services across the world but restricts manufacturing to the home country. A firm that operates in one country and exports its goods and services to foreign countries.

A firm that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages not available to purely domestic competitors.

Which of the following would be the best illustration of a subculture? a religion a group of close friends your occupation a fraternity or sorority

A religion

L'Oreal Ch 8 A) Review L'Oreal's brand portfolio. What role have loal and global marketing, smart acquisitions, and R&D played in growing those brands? B) What's next for L'Oreal on a global level? Who are its biggest competitors? If you were CEO, how would you sustain the company's global leadership?

A) Review L'Oreal brand portfolio. What role have local and global marketing, shrewd acquisitions, and R&D played in growing those brands? Loreal is a known makeup brand worldwide. Staying within the target market and expansion to keep relevance within the brand equity and loyalty, the roles that have to be played in local and global marketing are creating products in the health care section, following what the brand believes in purchasing local products to implement to their daily skincare or hair routines. B) What's next for L'Oreal on a global level? Who are its biggest competitors? If you were CEO, how would you sustain the company's global leadership? L'oreal, on a global level, will have to take expansion to a higher level and increase consumers. If L'oreal had a makeup line for all genders and targeted some of the items, that would allow people of all genders if welcome and wanted in the makeup community. Throughout the years, we have seen the improvements in the LGBT+ community and their fight for what they believe is equal as improved from previous years—having a line to cover the five o'clock shadow or stubble after a shave will increase the line of consumers. The most significant competitors are the other drugstore brand who is offering cheaper quality makeup or hair products to the community. If I were the CEO, I would implement the different aspects around the world to the products. In Japan, they are known for wanting to be pale with blushing cheeks, do for L'Oreal, i would try to implement those products today.

SELECT TWO OF THE FOUR ESSAYS. Refer to the Disney case in Chapter 6 A) What does Disney do best to connect with its core consumers? B) What are there greatest challenges as a 96 year old company? C) What are the risks and benefits of expanding the Disney brand in new ways, such as video games or superheroes? Apply specific concepts from Chapter 6.

A) What does Disney do best to connect with its core consumers? Disney is one of the most known international entertainment companies around, and they take value in what they think and believe about their brand. Suppose we relate personal experiences with the company and being an annual pass holder. In that case, I think of the energy every single employee brings to the occasion, ensuring an excellent experience for everyone. Not only does Disney have amusement parks, but they have themed resorts, the Walt Disney Studios, recording labels, and theatrical performances; Parks and Resorts, which focuses on Disney's 11 theme parks, cruise lines, and other travel-related assets. Disney Consumer Products, Media Networks, which includes Disney's television networks such as ESPN, ABC, Disney Channel; and Interactive Media. It targets people from different forms of technology and in-person interactions. Also, having the post-purchase behavior, after leaving the amusement parks, some families believe Disney is the "happiest place on earth." B) What are their most significant challenges as a 96-year-old company? Heritage, as the case study mentions, Disney's CEO Bob Iger explained, "As a brand that people seek out and trust, it opens the door to new platforms and markets, and hence to new consumers. To keep the same core customers and still have the ability to attract new consumers has to be the biggest challenge. They are trying to adapt and suit the needs of all or most customers. C) What are the risks and benefits of expanding the Disney brand in new ways, such as video games or superheroes? Some of the risks of expansion, keeping the consumers' intake, implementing superheroes to a brand known for their prince and princesses may have some consumers looking the other direction for who Disney is and how they represent themselves. Some benefits include targeting new consumers because of the expansion of images that Disney represents and having more male youth, and the impression of being strong.

________ are defined as companies that satisfy the same customer need. Communities Industries Competitors Trendsetters

Competitors

The first step in the strategic brand management process is ________. measuring and interpreting brand performance The first step in the strategic brand management process is ________. planning and implementing brand marketing identifying and establishing brand positioning

Identifying and establishing brand positioning

Adam wants to buy a washing machine and is looking for something that is not too expensive. When he goes to make the purchase, he finds there are two options that meet his requirements. One is a Maytag product, while the other is a newly imported South Korean brand. Adam is not very familiar with the latter and does not hesitate in choosing Maytag. This example implies that ________. Maytag has a positive customer brand equity the Maytag washing machine has better features than the imported brand the imported brand will not survive the competition from Maytag the imported brand is unreliable

Maytag has a positive customer brand equity

________ refers to the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers. Marketing channels Organizational buying Corporate retailing Inventory contro

Organizational buying

Product adaptation involves ________. altering the product to meet minimum acceptable standards developing a new product and adapting the communication strategy to enter a new market altering both the product and the communication strategy to meet local preferences altering the product to meet local preferences with no change in communication strategy

altering the product to meet local preferences with no change in communication strategy

Even if sales of a brand extension are high and meet targets, the revenue may be coming from consumers switching to the extension from existing parent-brand offerings — in effect ________ the parent brand. diluting cannibalizing eroding reinforcing

cannibalizing

When Coca-Cola determines the bottled-water competitors for its Dasani brand by identifying the products or sets of products with which a brand competes and which function as close substitutes, it is determining Dasani's ________. points of parity category memebership customer focused value proposition

category memebership

the level of engagement and active processing undertaken by the consumer in responding to a marketing stimulus is called ________. elaboration liklihood consuemer disengagement consumer involvement variety seeking

consumer involvement

General Motors, a leading American multinational automaker, sells cars for every purpose, budget, and personality. This is an example of ________ marketing. differentiated concentrated niche undifferentiated

differentiated

Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. The brand caters to an elite clientele whose satisfaction with the brand has always been evident. Apart from being high-end, Louboutin footwear signifies power in elite social circles. Celebrities are often seen sporting "Loubs" at special occasions, such as movie premieres. This has resulted in people associating Louboutin footwear with class and power. In accordance with the BrandAsset® Valuator model, which of the following components of brand equity has Louboutin fulfilled in this scenario? advantage knowledge presence energized differentiation

energized differentiation

When a firm uses an established brand to introduce a new product, it is called a brand ________. harmonization positioning extension valuation

extension

A firm that is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a market ________. nicher follower leader challenger

follower

A company can enter a foreign market through a ________, which is a complete form of licensing in which the company offers a complete brand concept and operating system. franchise management joint venture cooperative agreement contract manufacturing

franchise management

The traditional "marketing-mix" concept and the notion of the "four Ps" may not adequately describe modern marketing programs. ________ is about mixing and matching marketing activities to maximize their individual and collective effects. Relationship marketing Mass customization Personalized marketing Integrated marketing

integrated marketing

The market ________ has the largest market share and usually shows the way to other firms in price changes, new-product introductions, distribution coverage, and promotional intensity. challenger entrant follower leader

leader

AT&T's business campaign not only helped to change public perceptions of the company, it also signaled to employees that AT&T was determined to be a leader in telecommunication services. Which principle of internal branding does this example portray? choosing the right moment to capture employees' attention and imagination understanding how brand communities work linking internal and external marketing furnishing energizing and informative internal communication

linking internal and external

Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________. purchasing approaches market positioning personal characteristics situational factors

market positioning

When firms look for new users in groups that have never used the product before, the firm is using the ________ strategy. new-market segment market-penetration product development diversification

new-market segment

WD40 offers a Smart Straw version of its popular multipurpose lubricant with a built-in straw that pops up for use. This is an example of which of the following main strategies for growing the core of the business? Increase costs and revenue. Offer the core product in new formats or versions. WD40 offers a Smart Straw version of its popular multipurpose lubricant with a built-in straw that pops up for use. This is an example of which of the following main strategies for growing the core of the business? Drive distribution through both existing and new channels.

offer the core product in new formats or versions