BRAND MANAGEMENT AND PRODUCT DECISIONS  What are the stages in the product life cycle? 

What are the stages in the product life cycle? 

What happens to profits across the life cycle?

Should a marketer set the same market share objectives or other objectives across the life cycle? 

If actual products seldom precisely follow the theoretical product life cycle curve, what use is the product life cycle concept? 

How does positioning relate to the product life cycle?

How do companies extend life cycles?

What is the adoption/diffusion curve?

 

 

 

Why is it often preferred over the product life cycle to build marketing strategies?

Which group of customers (according to diffusion theory) are extremely important to target, what are their characteristics and why should they be targeted?

Product planning is often designed to manage existing and new products for existing and new market segments.  What are the 4 product strategies that result?

What are 4 major marketing decisions executives must make in order to do a good job of new product development?

Is it better to have sequential or simultaneous new product development processes, why? 

What characteristics should an innovation possess in order to be adopted quickly?

According to the New Product Development Process, at what stage should a prototype of the product be developed?

 

Do strong companies test a “product” or the “strategy which includes the new product”?

 

 

What is difference between a push or pull communications strategy?

Why do many companies use some push and some pull?

What are the goals of integrated marketing communications?

Why is it important to know the objectives of a communication in order to fully examine its effectiveness?

 

The Hierarchy of Effects model describes stages of product adoption from attention through action or purchase.  Why do most integrated marketing communications strategies utilize several media at all stages?

 

 

What does synergy mean?

 

The advertising plan is generally based on target audience analysis, creative designing and measurement.  What is the first step in evaluating an advertisement or aspect of IMC?

 

What is stopping power, originality, pulling power, involvement, understanding and if it is memorable?

What is the difference between recall and recognition? 

 

What is promotion and give examples in B to C and B to B?

Why is more spent on sales promotion than invested in advertising (think about measurement in this context)? 

What is public relations, its advantages and disadvantages?

 

 

Give examples of direct sales, including executive and team selling, field selling, over-the-counter selling, inside sales, global sales.

 

What are the characteristics of relationship selling?

Why is it important to sell what the buyer is “really” buying – remember the example of the retailer who is adding a line of watches?

 

In relationship selling the salesperson tries to create value of the customer and his/her company -- what are the 4 major responsibilities that support this?

 

What are the major steps in planning (from a sales perspective)  -- starts with understanding the company vision, then segmenting the territory, positioning – point is sales planning is like building a marketing plan for a territory.

 

 

What is the Pre-approach and what should you do at this stage if, for example, you are attempting to obtain an internship?

What is a good way to set up an appointment?

What are some keys to the initial approach in selling?

 

Is it important to set objectives when making a sales call?

 

What is a good will call and why do I frown on good-will calls?

What correlates highly with sales (hint – number of contacts with the customer)?

 

How important is listening in personal selling and approximately what percentage of time should be spent listening to the customer?

What is a key characteristic that strong sales people possess that is related to listening?

 

What does it mean to have accurate empathy and what technique described in class helps accomplish accurate empathy?

 

 

What are the characteristics of an appropriate hand shake?

What are the 5 roles in the sales sequence described in class?

Why is it important to go through all of the steps when developing a client?

 

What is the champion and why is the champion important to identify in the buying organization?

 

Objections on the part of a potential customer can be considered what?

 

Should objections be expected?

 

How can you handle objections?

 

What does it mean to close and what is the contemplated close?

 

Why is it important to think about body language?

 

What are 4 characteristics of strong sales people?

What is my definition of strategy?

 

What must you have that you do not possess in order to have a strategy?

 

If planning involves decision making, is it inherently a “ line” or “staff” function?

Since planning is the art of matching resources with opportunity, what sets of resources should the strategist try to utilize

 

What is the major difference between short and long term planning regarding the use and development of resources?

 

Explain planning in the past, future and present.

What is portfolio management and what are a) wildcats, sweepstakes, question marks and problem children; b)stars; c) cash cows; and, d)  Dogs?

What is a frontal attack and how is it used? 

 

What is a franker attack?

 

What is a guerilla approach?

How can an organization gain and sustain competitive advantage using emulation and the leap-frog techniques?