TEST BANK for Marketing Strategy Based on First Principles and Data Analytics 2nd Edition by Robert

1. Marketing Strategy consists of decisions and actions focused on building a/an _____________ differential advantage: a. Temporary *b. Sustainable c. Satisfactory d. Acceptable

Type: MR 2. A Corporate Strategy must answer the following questions (check all that apply): a. Who are your customers? *b. What affects cash flow? c. What value do you provide customers? *d. What personnel policies should you have in place?

3. The objective of Marketing Strategy must focus on _______________: a. Firm’s goals b. Customers’ goals *c. Both d. None of the above

4. Calculate Sales Revenue for Company XYZ Ltd for 2016; if Market Demand = 18 million, XYZ’s Market Share = 12%, Average Selling Price = $15: *a. $32.4 million b. $22.5 million c. $27 million d. $30 million

5. Calculate Company ABC’s Sales Revenue for 2016; if ABC’s profit = $46,000, Profit margin = 25%, Marketing Expense = $93,000, and G&A Expense = $56,000: a. $5,56,000 *b. $7,80,000 c. $3,32,000 d. $5,96,000

6. Which of the following is not included in the First Principles of Marketing Strategy? a. All customers change b. All resources are limited c. All competitors react

SOURCE: Browsegrades.net

*d. All customers are not different

Type: MR 7. The key elements of Marketing Strategy include (check all that apply): *a. Differential advantages over competitors *b. Sustainability c. Company’s Mission / Vision *d. Customer perspective

8. __________ represent the fundamental unit of analysis for Marketing Strategy: *a. Customers b. Competitors c. Operations d. None of the above

Type: MR 9. A Marketing Strategy must answer the following questions (check all that apply): a. What personnel policies should you have in place? b. What legal considerations effect your business? *c. What value do you earn due to the differential advantage? *d. How will you sustain the differential advantage?

10. Customer heterogeneity is defined as variation among customers in terms of their__________: a. Ability to pay *b. Needs, desires, and subsequent behaviors c. Future preferences d. None of the above

Type: MR 11. The following drive substantial variation in customer’s preferences (check all that apply): *a. Personal Differences *b. Aspirational self-identities *c. Functional needs for the product d. None of the above

12. A customer lifecycle approach ignores _______________: a. Migration among customers

SOURCE: Browsegrades.net

b. Average changes among customers *c. Product differences d. None of the above

13. A product or lifestyle approach captures ___________? a. Typical User experiences b. Industry developmental efforts c. Individual sources of customer dynamics *d. Both a & b

14. A firm can compile a descriptive “persona” by grouping existing customers into __________? a. Those recently acquired b. Longer-term customers c. Those lost or at risk of being lost *d. All of the above

Type: MR 15. Lost customer analysis provides insights on ________? (Check all that apply) *a. Customer defection b. Customer reflection *c. Where customers go *d. Potential recovery strategies

16. Brands, offerings and relationships are 3 key marketing sources of ___ *a. Sustainable competitive advantage b. Unsustainable competitive advantage c. Sustainable competitive disadvantage d. Unsustainable competitive disadvantage

17. The total of the discounted lifetime values of all its customers is known as _____? a. Customer lifetime b. Customer Longevity *c. Customer Equity d. Competitor equity

18. The Micro-Macro Duality is critical to successful marketing strategy, because _______ occur/occurs at micro levels, but ___________ occur/occurs at Macro level?

SOURCE: Browsegrades.net

a. All decisions, customer understandings *b. True customer understandings, most strategic and resource oriented c. Most strategic and resource oriented, True customer understandings d. Customer understandings, All decisions

19. Resource slack refers to ___________ for a firm for marketing strategy? a. Unusable resources *b. Usable resources c. Competitors resources d. None of the above

20. Changes in the _________ results from the entry and exit of competitors? *a. Product market landscape b. Competitor market landscape c. Resources market landscape d. All of the above

21. Firms use _____________ to make decisions when they lack hard data on each resource option? a. Attribution based processes *b. Heuristic based processes c. Resource based processes d. All of the above

22. ____________ help in making critical resource allocations decisions such as “ How much would the financial income change with 1% increase in marketing efforts”? *a. Attribution based processes b. Heuristic based processes c. Resource based processes d. All of the above

Type: MR 23. The brand and offering strategy needs to address these conditions? (Check all that apply) *a. Customer must care about what SCA offers *b. Firms must have a relative advantage over its competitors c. SCA must be easy to understand and duplicate *d. SCA must be hard to duplicate or substitute

SOURCE: Browsegrades.net

24. ____________ can be defined as a technology-enabled, model supported approach to harnessing customer and market data to understand and serve customers?

a. Competitor analytics b. Resource analytics *c. Customer Analytics d. Brand Analytics

SOURCE: Browsegrades.net

1. Offering a single product to the entire market approach may work if: a. Competition is strong b. Perfect competition *c. Competition is weak/scarce d. None of the above

Type: MR 2. Which of the following are sources of Customer Heterogeneity? (check all that apply): *a. Life Experiences *b. Marketing Activities c. Corporate Image *d. Functional Needs

3. Which of the following is not a part of the Big 5 traits? a. Agreeableness b. Openness c. Conscientiousness *d. Calmness

Type: MR 4. Market strategies aim at (check all that apply): *a. Matching natural sources of variation in customer preferences b. Facing market competition *c. Serving as a significant source of customer heterogeneity *d. Persuading consumers of the importance of new attributes

5. Marketing Principle #1: All customers differ and an effective marketing strategy must ____________________________________: a. Manage ever present market competition *b. Manage ever present consumer heterogeneity c. Manage evolving market trends d. Manage ever present consumer homogeneity

6. Which of the following is not addressed in a positioning statement? a. Who are the customers? b. What is the set of needs that product/service fulfills? *c. Who are the firm’s competitors?

SOURCE: Browsegrades.net

d. Why is this product/service the best option to satisfy the customer needs?

7. ____________ is the process of diving the overall market into groups, such that potential customers in each group have similar needs and desires for a product/service: *a. Segmentation b. Positioning c. Targeting d. None of the above

Type: MR 8. An ideal target segment should meet the following criteria (check all that apply): a. Customers are unclassifiable *b. Crossover Competition c. Based on company’s needs *d. Value in the long term

9. The ______________ is one analysis tool designed to help managers visualize and select target segments: a. Choice model b. AER model *c. E matrix d. None of the above

10. ___________ uses customer preferences to cluster individual customers into a given number of groups within this two-dimensional space by simultaneously minimizing the distance from each individual customer to the center of a cluster and maximizing the distance between the centers of all clusters: a. Group Analysis *b. Cluster Analysis c. Preference Analysis d. None of the above

Type: MR 11. The value of reducing potential customer preferences into smaller sets of independent factors, prior to conducting analyses, is that (check all that apply): *a. This step removes a potential source of bias by combining similar questions b. This step gives us a wide scope of preferences to work with *c. This step removes any redundancy d. None of the above

SOURCE: Browsegrades.net

12. _____________ refers to the process by which a firm shifts its target market: a. Positioning b. Segmentation c. Targeting *d. Repositioning

13. The _____________ is a philosophy that places customer’s needs at the center of an organization’s strategic process and uses the insights to make decisions: *a. Customer-centric b. Market-centric c. Demand-centric d. None of the above

14. _____________ captures the relative strength of a firm, versus competitors, at securing and maintaining market share in a given segment: a. Market attractiveness *b. Competitive strength c. Firm effectiveness d. None of the above

15. _____________ entails changing both the actual offering and the perceived offering: *a. Positioning b. Repositioning c. Targeting d. Segmentation

16. _____________ focuses marketing efforts on well-defined, narrow segments of consumers: a. Mass marketing b. Macro marketing *c. Niche marketing d. None of the above

17. Mass marketing (undifferentiated marketing) mostly ignores: a. Customer Preferences *b. Customer Heterogeneity c. Customer Homogeneity

SOURCE: Browsegrades.net

d. All of the above

18. _____________ depict customer segments, competitors, and a firm’s own position in a multidimensional space, defined by the purchase attributes identified during segmentation: a. Positioning maps b. Choice models c. GE Matrix *d. Perceptual maps

19. Segmentation focusses on differentiating customers according to their ______________, and not on their _______________: a. Demographic characteristics, unique needs/desires *b. Unique needs/desires, demographic characteristics c. Demographic characteristics, changing preferences d. None of the above

20. Internet provides a powerful platform for ____________ marketing: a. Mass b. Undifferentiated *c. One-to-one d. None of the above

Type: MR 21. Customer-centric organizations (check all that apply): *a. Have increased knowledge of each customer segment *b. Find it difficult to respond to emerging trends c. Achieve improved customer satisfaction & loyalty *d. Need more resources

22. When entering new markets or after dramatic market turbulences, firms should start with: *a. Qualitative approaches b. Quantitative approaches c. Both d. None of the above

23. A perceptual map helps firms to (check all that apply):

SOURCE: Browsegrades.net

a. Determine how much change is needed on key product attributes to move products to more favorable positions b. Identify key competitors c. Visually determine the impact of their communication programs on market perceptions *d. All of the above

SOURCE: Browsegrades.net

1. Managers developing marketing strategies must account for both ______ variation in customers needs, due to inherent differences, and the __________ variation that arises as customer needs change over time? *a. Static, Dynamic b. Dynamic, Static c. Continuous, Discontinuous d. None of the above

2. The _______________ is the process by which customers become familiar with the product by using it, which changes their weighting of the relative importance of different attributes due to enhanced knowledge and experiance. a. Customer unlearning effect *b. Customer Learning effect c. Customer relative effect d. None of the above

3. Only ________ in markets with huge entry and exit barriers can ignore changes among their existing customers? a. Oligopolies b. Perfect competition firms *c. Monopolies d. Both A and C

4. A marketing strategy can be devised to cater to an average individual at any stage of life, this is a process of _______ lifestyle for marketers? a. Product b. Industry *c. Customer d. All of the above

5. How many stages are present in a product lifecycle? a. 5 b. 3 c. 6 *d. 4

6. In the industry lifecycle, the 3rd stage i.e. ___________ scale, is the phase where smaller players get forced out? a. Innovation

SOURCE: Browsegrades.net

stage, marked by economies of

*b. Shakeout c. Maturity d. Decline

7. In a __________ lifecycle method, managers might average across a large number of different people, product and industry categories, which may give a general sense of change. a. Customer b. Product *c. Generic d. Exclusive

8. The __________ stage begins with the first contact, typically before the first purchase occurs, when prospects and early customers have similar needs. *a. Acquisition b. Expansion c. Retention d. None of the above

9. ______________, defined as the planned process of introducing new customers to a firm to improve their long term satisfaction and loyalty. a. Product onboarding b. Industry onboarding *c. Customer onboarding d. None of the above

10. In the expansion stage, firms are trying to upsell or cross-sell to expand their sales and engagement with __________ customers? *a. Existing b. New c. Exiting customers d. All of the above

11. Some retention strategies from firms aim to _________ the switching costs required to move to a competitor for customer? a. Decrease *b. Increase c. Stabilize d. None of the above

SOURCE: Browsegrades.net

12. The Hidden Markov Model (HMM) uses changes in the __________ customer behaviour to identify customer states and model the probability of transitioning, among those states. a. Present *b. Past c. Future d. All of the above

13. _______________ is a powerful, after-the fact diagnostic tool to identify customers who have migrated away and identify the cause for the migration and work towards fixing the problem. a. New customer analysis b. Retention customer analysis *c. Lost Customer Analysis d. None of the above

14. A choice model can benefit the lost customer analysis, and can inform analyses across _____ stage/stages? a. Acquisition b. Expansion c. Retention *d. All of the above

15. Customer _________ value attempts to capture the true contribution of each customer, by determining the discounted value of the sales and costs associated with this customer across the expected migrated paths followed throughout the relationship. *a. Lifetime b. Retention c. Discounted d. None of the above

16. Using CLV approach, firms have special programs to acquire new customers, such as __________ a. Special finder’s fees b. Discounts for first-time customers *c. Both A and B d. None of the above

17. __________ margins and retention rates while __________ decreasing acquisition and annual marketing costs and discount rates all improve the customer’s lifetime value. a. Decreasing, increasing *b. Increasing, Decreasing c. Steady, increasing

SOURCE: Browsegrades.net

d. Increasing, Steady

18. A simplified version of CLV used by direct marketers to target customers receiving expensive catalogs use __________ a. Recency b. Frequency c. Monetary *d. All of the above

19. A firm’s _____________ system provides detailed customer-level data for dynamic segmentation analysis. *a. Customer relationship management b. Customer Info management c. Customer service management d. None of the above

20. __________ data can help identify a triggering event or mechanism underpinning each migration and thereby answer questions about the causes the change. a. Quantitative *b. Qualitative c. Both A and B d. None of the above

21. AER positioning statements are internally focused on _________ customers, rather than outwardly focused on ______ customers in the market category. a. All, existing b. All, few *c. Existing, All d. Few, All

22. Individual customers may change due to life events, which have __________ impacts on many aspects of their purchase decisions. a. Immediate b. Slower c. Late d. None of the above.

SOURCE: Browsegrades.net

1. MP#3 - All competitors react and an effective marketing strategy must manage____________: a. To identify changing customer preferences b. To treat all customer differently *c. The firm’s sustainable competitive advantage (SCA) d. None of the above

Type: MR 2. A good Sustainable Competitive Advantage (SCA) must include (check all that apply): *a. Customers care about what this SCA offers b. Must be easy to substitute with significant resources *c. The firm does it better than competitors d. None of the above

3. Focusing only on competitors often ____________________________________________: a. Helps firms better understand their customers’ needs and desires *b. Leaves firms blind to changes in their customers’ needs and desires c. Helps firms increase their customer base d. None of the above

Type: MR 4. The sources of SCA in marketing can be grouped under the following main categories? (check all that apply): *a. Brands *b. Offerings c. Resources *d. Relationships

5. Competitors can overcome a firm’s SCA by applying which of the following strategies? a. Exploiting changes in customers’ desires due to cultural, environmental, or other factors b. “Me-too” copycats that improve the efficiency/effectiveness of an existing execution c. Technical innovations that provide them a platform to launch a disruptive offering *d. All of the above

6. Industrialization increased the importance of brands as a means to: a. Serve consumer needs *b. Distinguish among products and provide a signal of quality of the offerings c. Increase market competition

© Palmatier, 2017, Marketing Strategy, Palgrave. ISBN: 9781137526236.

SOURCE: Browsegrades.net

1

d. None of the above

7. Using brands as an SCA is most effective in _________________: a. Small consumer markets b. New markets *c. Large consumer markets d. None of the above

8. ____________ for a firm refers to “the total of the discounted lifetime values of all its customers.”: *a. Customer equity b. Firm equity c. Customer lifespan d. Competitive equity

9. True comprehension of customers occurs at ____________, but strategic and resource decisions occur at ____________: a. Macro levels, Micro levels b. Interior level, Exterior level *c. Micro levels, Macro levels d. None of the above

10. While making Brand, Offering, and Relational (BOR) strategic decisions, ____________ are normally determined last, because they involve the delivery and experiential aspect of offerings: a. Offering decisions *b. Relationship strategies c. Brand decisions d. None of the above

11. BOR equities are similar to _____________: *a. Tangible assets b. Intangible assets c. Shareholders’ equity d. None of the above

12. ____________ provide strong tests of causality, by randomly assigning customers to multiple groups: a. AER strategies

© Palmatier, 2017, Marketing Strategy, Palgrave. ISBN: 9781137526236.

SOURCE: Browsegrades.net

2

*b. Experiments c. Consumer matrix d. None of the above

13. ______________ is the largest barrier to competitive attacks: *a. Interpersonal relationships between producers and consumers b. Matching consumer preferences c. Mass marketing d. None of the above

14. Maintaining a relative advantage over ______________ is particularly difficult, because they benefit from factors such as free-rider effects: a. Late followers b. Moderate competitors *c. Early followers / “Me-too” competitors d. None of the above

15. A brand can provide a relative advantage when: *a. It aligns better with customers’ needs than competitors’ brands b. It successfully replicates its competitor’s ideas c. It recognizes changing market needs d. None of the above

16. Firms must first focus on customer, before building SCA, because: a. SCAs are not affected by customers *b. SCAs offer value only when a financially meaningful group of customers care about them c. SCAs offer value only when the firm’s competitors care about them d. None of the above

17. Using offerings as an SCA can be effective, because new and innovative products/services: a. Are easy to build b. Require low investment in time and money *c. Have the potential to disrupt virtually any market segment d. a & b

18. For a firm, fulfilling a SCA better than its competitors is particularly critical in: *a. More mature product/market segments

© Palmatier, 2017, Marketing Strategy, Palgrave. ISBN: 9781137526236.

SOURCE: Browsegrades.net

3

b. Rapidly growing segments c. New product/market segments d. None of the above

Type: MR 19. Using relationships as an SCA is most effective in ___________________ setting (check all that apply): *a. B2B b. B2C *c. Service *d. Complex offering

20. Over time, following have been the primary sources of SCA: a. Innovative offerings following the technology revolution b. Brands in the aftermath of the Industrial Revolution with the emergence of middlemen and retailers c. Relationships in early market *d. All of the above

21. To make optimal decisions, a firm needs a framework that: a. Measures existing market competition *b. Measures, tracks, and reports customer equities c. Estimates customer preferences d. None of the above

© Palmatier, 2017, Marketing Strategy, Palgrave. ISBN: 9781137526236.

SOURCE: Browsegrades.net

4

1. Brand elements are associated with the following _______ a. Name b. Package design c. Symbol *d. All of the above

2. ___________ equals the sum of all Customer lifetime value associated with all future and existing customers. *a. Brand equity b. Product equity c. Company equity d. None of the above

3. Characteristics such as brand awareness or familiarity is associated with ______________ of brand equity? a. Brand network memory model *b. Associated network memory model c. Associated network brand model d. Brand associated network model

4. Customer’s perceptions and associations with the brand is known as ________ a. Brand perception b. Brand awareness *c. Brand Image d. None of the Above

5. One of the benefit of Brand equity is that a. It cannot change customer’s actual experiences b. It can change customer’s actual experiences c. It can make it more difficult for competitors to encroach *d. Both B & C

6. When both attitudinal and behavioural loyalty are high it creates _________ a. Product Loyalty *b. True loyalty c. Latent Loyalty d. Spurious Loyalty

7. Spurious Loyalty is when ______

SOURCE: Browsegrades.net

a. Positive feelings and actions are manifested *b. Ambivalent feelings are manifested c. No feelings are manifested d. None of the above

8. Latent Loyalty is when Customers have ________ attitudes but actually _______ the product? a. Negative, Buy b. Negative, do not buy c. Positive, buy *d. Positive, do not buy

9. How a brand is going to maintain its relative advantage over time is known as ________ a. Brand Identity b. Brand Image *c. Brand Sustainability d. None of the above

10. _________ pulls all characteristics together and describes who the brand is. *a. Brand Identity b. Brand Image c. Brand Sustainability d. None of the above

11. A firm that focuses on branding each major product with its own unique brand elements is known as _____ a. Branded House architecture *b. House of brand architecture c. Brand architecture d. None of the above

12. A firm that uses a single set of band elements for all products is known as *a. Branded House architecture b. House of brand architecture c. Brand architecture d. None of the above

13. Vertical Extensions of brands to lower priced markets often __________ the image of the parent brand.

SOURCE: Browsegrades.net

a. Strengthen *b. Undermine c. Not affect d. None of the above

14. Building Brand awareness involves making the brand easy to recall known as ________ a. Brand breadth b. Brand length c. Brand perception *d. Brand Depth

15. Brand awareness across a wide range of potential purchase and usage situations is known as _________ *a. Brand breadth b. Brand length c. Brand perception d. Brand Depth

16. Dissemination of information by individual customers to build a firm’s or product reputation and generate sales is known as ______ a. Brand Dissemination *b. Word of mouth c. Personal selling d. None of the above

17. The six-step approach of communication and information processing by firms towards customers can be simplified as ________ a. Feel-think-act b. Act-think-feel c. Think-act-feel *d. Think-feel-act

18. Exploratory qualitative analysis include a. Case studies b. Focus groups c. Observations *d. All of the above

19. Qualitative method which is flexible and time effective and can support larger sample sizes is ______

SOURCE: Browsegrades.net

a. Case studies *b. Interviews c. Focus groups d. Observations

20. Example Data reduction techniques that seek to condense customers’ attributes is/are a. Factor analysis b. Cluster Analysis c. Regression *d. Both A & B

21. Choice Models help __________ or identify the causes or drivers of desired outcomes *a. Link variables to outcomes b. Link Outcomes to variables c. Understand trade-offs d. Data reduction

22. Optimal way to allocate a marketing budget to different communication formats is knows as a. Regression analysis b. Choice Model *c. Resource Allocation d. Cluster Analysis

SOURCE: Browsegrades.net

1. The _________________ involves creation of substantial new value for customers and the firm by creatively changing one or more dimensions of the business: *a. Process of innovation b. Process of expansion c. Process of modification d. None of the above

2. A first-mover advantage is nearly always trumped by _____________, who are not just quick but also better: a. Laggards *b. Early followers c. Late entrants d. None of the above

3. _____________ refers to the core value that the performance of the product/service offers the customer, absent any brand or relationship equity effects: a. Competitive advantage b. Offering yield *c. Offering equity d. None of the above

4. ________________ is a process to increase the speed of a firm’s offering development and enhance its likelihood of success: a. Segmentation *b. Stage-gate approach c. Innovation d. None of the above

5. Which of the following are the ways a firm can innovate? a. Change what the firm offers b. Changing who the customer is c. Changing where to sell to customers *d. All of the above

Type: MR 6. Greater offering equity, generated from a firm’s new and innovative products/services leads to _____________ (check all that apply): *a. SCA

SOURCE: Browsegrades.net

*b. Superior sales c. Increased competition *d. Superior profit

Type: MR: 7. The following are the ways for a firm to change who the customer is (check all that apply): a. Provide a total solution *b. Change customer interactions c. Change firm structure *d. Change customers to target

8. _____________ means that once developers/designers accept some new feature, they perceive its great value – far more than would be assigned the feature by non-users: a. New offering bias b. Non-user bias *c. Designer’s Curse d. None of the above

9. _______________ refers to an innovative offering that results from dramatically repositioning an existing offering, so that the total offering appeals to a different customer segment with a ‘new’ proposition *a. Repositioning strategy b. Positioning strategy c. Disruptive strategy d. None of the above

10. ______________ attempt to capture a portion of the existing market, and account for the majority of sales, but earn lower relative profit levels a. Blue ocean strategies b. Black ocean strategies *c. Red ocean strategies d. None of the above

11. _____________ aim at transforming the image off competitors brand features, such that they become a negative attribute in the new market: *a. Blue ocean strategies b. Black ocean strategies c. Red ocean strategies d. None of the above

SOURCE: Browsegrades.net

12. The basic intuition in Jugaad is that: a. It requires the same stage-gate process for all innovative ideas *b. Agile innovation practices can vary with each problem stage and product c. It seeks conventional solutions to problems d. None of the above

13. ________________ leads to continuous, incremental improvements over time: *a. Sustaining technology b. Innovative technology c. Disruptive technology d. None of the above

14. With its very different price and performance characteristics, ________________ improves very quickly: a. Sustaining technology b. Innovative technology *c. Disruptive technology d. None of the above

15. _______________ are the first to adopt, often before the new offering even is officially launched: *a. Innovators b. Early adopters c. Early majority d. None of the above

16. _______________ see the benefits of the new technology and are willing to adopt it after just a few references: a. Innovators *b. Early adopters c. Early majority d. None of the above

17. The ______________ consists of much more pragmatic consumers, who need to be convinced that the new product really works: a. Innovators b. Early adopters

SOURCE: Browsegrades.net

*c. Early majority d. None of the above

Type: MR 18. The _____________ and _____________ want more evidence, but they are especially hard to persuade (check all that apply): *a. Laggards b. Early majority *c. Late majority d. None of the above

19. In Moore’s adoption cycle, the concept of _____________ refers to many new offerings failing to survive the jump from the early adopters to the early majority groups: *a. Crossing the chasm b. Switching strategy c. Breaking barriers d. None of the above

Type: MR 20. Changing the following factors can alter the rate of product diffusion, all else being equal (check all that apply): a. Complexity b. Trialability c. Relative advantage *d. All of the above

21. _____________ helps marketers design and develop new products by thinking of products as bundles of attributes, then determining which combination of attributes is best suited to meet the preferences of customers: a. Choice models *b. Conjoint analysis c. Perceptual maps d. None of the above

22. The ______________ captures many of the people-and-product-based factors, but it also integrates pricing and advertising levels to predict adoption rates: *a. Bass model b. Choice model c. Choice model

SOURCE: Browsegrades.net

d. None of the above

SOURCE: Browsegrades.net

1. Relationship equity in combination with brands and offerings, in turn can lead to ____________ a. Sustainable advantage *b. Sustainable competitive advantage c. Sustainable brand advantage d. None of the above

2. The acronym CRM stands for *a. Customer Relationship Management b. Consumer Relationship Management c. Customer ratings management d. Consumer ratings management

3. Aggregation of relational assets and liabilities, associated with the firm’s boundary-spanning employees and social networks linked to the offering is known as ____ *a. Relationship Equity b. Brand equity c. Employee equity d. None of the above

4. Social exchange theory has established that ______ and ______ are central to strong business relationships a. Commitment, relationships b. Trust, Relationships *c. Commitment, Trust d. Relationships, integrity

5. A seller’s Relationship Marketing activities influence _______ a. Relationship Quality b. Relationship breadth c. Relationship composition *d. All of the above

6. A diverse, authoritative contact portfolio increases a seller’s ability to effect change in its customer’s organizations _________ a. Relationship Quality *b. Relationship Composition c. Relationship Breadth d. None of the Above

SOURCE: Browsegrades.net

7. Coordinated, complementary actions between partners to achieve a mutual goal is called _________ a. Relationship loyalty b. Empathic behaviours *c. Cooperative behaviours d. None of the above

8. Likelihood that customer provides seller benefits in exchange process due to their relational ties and attitudes *a. Relationship loyalty b. Empathic behaviours c. Cooperative behaviours d. None of the above

9. Word of mouth exemplifies ________ a. Feelings of gratitude b. Positive attitudes c. Provide referrals *d. All of the above

10. A greater likelihood of being influenced by perceptions of the seller’s position. a. Relationship loyalty *b. Empathic behaviours c. Cooperative behaviours d. None of the above

11. Unfairness or betrayal has powerful negative effects on customer _____ a. Cooperation b. Flexibility *c. Both A & B d. None of the above

12. Bystanders despise the unfair treatment they receive which in turn _______ *a. Harms loyalty and annual sales intentions b. Does not harm loyalty and annual sales intentions c. Has no effect on loyalty d. Improves sales for targeted customers

SOURCE: Browsegrades.net

13. When contextual factors ________ a customer’s relationship orientation, they also _________ its receptivity to relationship building, prompting more effective RM. a. Increase, Decrease b. Decrease, Increase c. Stay the same, Increase *d. Increase, Increase

14. ________ encourages strong customer-seller relationships through compensation policies, evaluative systems. a. Product category dependence b. Relational Norms *c. Relationship-centric reward system d. Relationship proneness

15. Business-to-business markets offer ______ complexity, such that they require adaption and relational governance structures *a. Greater b. Lower c. No d. None of the above

16. Relationship Marketing is more effective in _____ than in _____ a. B2C, B2B b. Lower markets, Higher Markets *c. B2B, B2C d. Higher Markets, Lower Markets

17. If a seller offers RM benefit of its own accord it is known as ______ a. Contractual behaviour *b. Free will c. Mandated Behaviour d. Motivated behaviour

18. Exploratory Stage features __________ confidence in the partner’s ability. *a. Limited b. High c. No d. None of the above

SOURCE: Browsegrades.net

19. If initial responses are positive and produce the desired outcomes the relationship moves into the ________ stage a. Developing stage *b. Maintaining stage c. Decline stage d. Early stage

20. Even Successful relationships can enter the Recovery stage in response to events of passive neglect such as a. Failure to communicate b. Ending investments c. Unfairness *d. All of above

21. ________ RM programs provide investments that customer’s might not make themselves such as electronic order processing or customized packaging a. Social *b. Structural c. Financial d. None of the above

22. Financial RM programs provide financial benefits, in the form of _____ a. Special discounts b. Giveaways c. Free shipping *d. All of the above

23. A central measure of the effectiveness of RM is _______ a. Brand equity *b. Relationship equity c. Product equity d. Shareholder’s equity

24. Relationships typically peak during _______ stage. a. Growth *b. Maturity c. Early d. Decline

SOURCE: Browsegrades.net

Marketing Strategy: Based on First Principles and Data Analytics

Instructional Manual

SOURCE: Browsegrades.net

Marketing Strategy

Instructional Manual

TABLE OF CONTENTS 1.

A PERSONAL NOTE FROM THE AUTHORS ........................................... 3

2.

INSTRUCTIONAL RESOURCES ............................................................ 4 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8

3.

DELIVERING A MARKETING STRATEGY COURSE .............................. 10 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8

4.

FIRST PRINCIPLES APPROACH SLIDE LIBRARY.............................................. 4 DATA ANALYTIC TECHNIQUE SECTIONS SLIDE LIBRARY .................................. 4 BROAD ANALYTICS CASES (WITH SOLUTIONS) AND DATA ............................... 5 ANALYTICS CASE REFERENCES ............................................................... 5 EXAMPLE SYLLABI .............................................................................. 8 TEST BANK ...................................................................................... 8 INSTRUCTIONAL VIDEOS ...................................................................... 8 INTEGRATES WITH MARKETING SIMULATION SOFTWARE (E.G., MARKSTRAT) ......... 8 OVERARCHING OBJECTIVES ................................................................. 10 OVERALL COURSE STRUCTURE ............................................................. 10 COURSE STRUCTURE FOR UNDERGRADUATE MARKETING STRATEGY/MANAGEMENT 11 GRADED COMPONENTS FOR UNDERGRADUATE MARKETING STRATEGY/MANAGEMENT12 EXAMPLE SYLLABUS FOR UNDERGRADUATE MARKETING STRATEGY/MANAGEMENT . 12 COURSE STRUCTURE FOR A GRADUATE (MBA) MARKETING STRATEGY/MANAGEMENT13 GRADED COMPONENTS FOR GRADUATE (MBA) MARKETING STRATEGY/MANAGEMENT14 EXAMPLE SYLLABUS FOR GRADUATE (MBA) MARKETING STRATEGY/MANAGEMENT 14

DELIVERING A MARKETING ANALYTICS COURSE............................. 15 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8

OVERARCHING OBJECTIVES ................................................................. 15 OVERALL COURSE STRUCTURE ............................................................. 15 COURSE STRUCTURE FOR UNDERGRADUATE MARKETING ANALYTICS ................. 16 GRADED COMPONENTS FOR UNDERGRADUATE MARKETING ANALYTICS ............... 17 EXAMPLE SYLLABUS FOR UNDERGRADUATE MARKETING ANALYTICS .................. 17 COURSE STRUCTURE FOR A GRADUATE (MBA) MARKETING ANALYTICS ............. 17 GRADED COMPONENTS FOR GRADUATE (MBA) MARKETING ANALYTICS ............. 19 EXAMPLE SYLLABUS FOR GRADUATE (MBA) MARKETING ANALYTICS ................. 19

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

2

Marketing Strategy

1.

Instructional Manual

A Personal Note from the Authors

We truly appreciate your use of Marketing Strategy: Based on First Principles and Data Analytics! In this manual, we help your preparation for teaching this class both effective and efficient. What instructional needs do we seek to fulfil with this book? The two key differentiators of our book are: Foundation: Our approach is built on structural foundation, and not business exemplars. Many marketing strategy classes rely almost exclusively on business cases that may serve as exemplars of marketing strategy. The problem with only using business cases is that students are unwilling to believe that a single firm’s successful solution to a marketing problem generalizes across problems. Hence, we build the book on a structural foundation that argues that marketing decisions can be organized to solve four underlying “problems” or complexities that all firms face when designing and implementing their marketing strategies.

These four problems represent critical hurdles to marketing success; they also define the organization for this book. We refer to them as the First Principles of Marketing Strategy.

Analytics: We embrace today’s necessity to include analytics in marketing-decision making: Many marketing strategy classes that rely only on concepts and business cases offer relatively limited data analytics assistance to students, which provides the mistaken impression that today’s business environment is not data-intensive. Feedback and experience indicate that analytics is no longer a luxury, but a business necessity from a career advancement perspective. Accordingly, we describe state-of-the-art data analytic techniques throughout the book, and include four broad empirical cases, with data sets and step-by-step solution guides, that give students a feel for analytics-based decision-making.

We present you with flexible teaching approaches. You could directly use the book to teach Marketing Strategy or Marketing Management courses, by describing the First Principles of Marketing Strategy, and thereby giving students a structured framework for developing effective strategies for diverse marketing problems. You could also use our foundational structure to teach a Marketing Data Analytics or Marketing Engineering class by providing a strategic organizing framework to tackle the challenges of today’s big data environments. Both these approaches using our materials have been applied and refined at multiple universities by multiple professors for undergraduate, MBA, and EMBA students for almost a decade.

Accordingly, in the rest of the manual, we detail all the instructional resources we provide with the book, provide field guides to constructing Marketing Strategy and Marketing Analytics courses using our book, and subsequently provide some sample syllabi for immediate use. We hope you enjoy Marketing Strategy: Based on First Principles and Data Analytics!

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

3

Marketing Strategy

Instructional Manual

Instructional Resources

2.

We list all the teaching resources we have provided below.

2.1 First Principles Approach Slide Library We have provided you with a detailed slide library of more than 500 fully animated PowerPoint slides for classroom instruction. On the bottom of each slide (notes section) is a detailed discussion of the purpose, research, and more examples supporting the slide. The slide library is organized around each of the nine chapters, to facilitate modular instruction. Each chapter’s slides consist of the same components in the book.

• • • • • • •

Introduction Description and rationale for the First Principle Evolution and description of approaches used to address the specific Marketing Principle Relevant marketing research, concepts, tools, and analyses Input, output, and process framework Takeaways Cases

In addition, we have included select examples (from more than 250 diverse marketing examples in the book) in each chapter’s slides.

2.2 Data Analytic Technique Sections Slide Library We have provided you with a detailed slide library expanding on key data analytics techniques that can be used in conjunction with each First Principle. The material was developed to teaching key data analytic techniques in the book, i.e. cluster analysis, positioning maps, choice models, conjoint modes, and response models. Each data analytic technique consist of.

• • • • •

Learning objectives Rationale for the technique Description of the technique Example of technique in use Summary

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

4

Marketing Strategy

Instructional Manual

2.3 Broad Analytics Cases (with Solutions) and Data The book contains four broad empirical cases, with data sets and step-by-step solution guides.

Each case refers to one of the four First Principles. Each of the cases deals with one of the four fundamental marketing problems. You could use these cases and solutions included at the end of relevant chapters as demonstration of the processes and techniques taught in the book. The structure of the cases parallel one another, each focused on a different First Principle, and provide the following: • • • • • •

Problem Background Problem Statement Data Solution Process Summary of Solution Tables and Figures

2.4 Analytics Case References In addition to the broad analytics cases, the chapters contain references to cases which were developed by DecisionPro® to be used with MEXL (an add-in module for Excel) or Enginius (a Cloud-based version of the software). These cases are often more narrowly defined but provide an excellent way to learn the key marketing processes and analysis tools outlined in this chapter.

Each of these cases comes with an associated dataset. These case and datasets can be accessed at http://www.decisionpro.biz/. Below, we list the DecisionPro® cases that are relevant for the book, on a chapter-by-chapter basis: Chapter 2

DecisionPro Case Pacific Brands Case uses cluster analysis to identify and define the segments within the brassiere market and recommend cost-effective advertising and promotional activities.

2

FLIP Side of Segmentation Case uses cluster analysis to segment and choose target markets.

2

Addison Wesley Longman Case uses a GE Matrix to allocate resources resources/support to each of three potential new offerings.

2

Suzlon Case uses a GE Matrix to allocate resources/support to each of three potential new offerings.

2

ConneCtor PDA 2001 Case uses a perceptual map to help position a product in a key target market.

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

5

Marketing Strategy

2 3

Instructional Manual

Heineken Case uses a perceptual map to reposition Heineken's beer brands in the Spanish market to increase sales.

Bookbinders Book Club Case uses a customer choice model to evaluate different methods (RFM, regression or binary logit) that are best for prioritizing customers to target for a campaign.

3

Northern Aero Case uses customer lifetime value model, to evaluate the value of a typical customer in each segment.

5

Infiniti G20 Case uses a positioning map to understand how the market perceives the Infiniti brand relative to competitors?

6

Kirin USA Case uses a conjoint model to understand what new beer Kirin should develop to improve their competitive standing in the US.

6

Ford Hybrid Cars Case uses a Bass forecasting model to understand the sales growth of Ford Hybrid Car.

7

Convergys Case uses segmentation and GE models to identify best customers for growing business.

7

ABB Electric Case uses customer choice model to identify which customers should be targeted with a supplementary marketing campaign.

Blue Mountain Coffee Case uses ADBUDG spreadsheet to determine Blue Mountain's advertising budget be for the next year.

8 8

8

Syntex Laboratories (A) Case uses resource allocation model to identify how many sales reps should Syntex hire over the next three years and how the reps should be allocated across products and physician specialty types.

BrainCell Internet Advertising Case uses Excel Solver to allocate an advertising budget to maximize profits.

The book can also be used along with analytics cases were developed by C-CUBES (www.ccubes.net) and can be used with JMP, R, SAS or Excel. These cases are applied cases that demonstrate real-world applications of the data analytics techniques outlined in the book in the real-world. Each of these cases comes with an associated dataset. These cases and datasets can be accessed for instructors (for a sample copy) and purchased for students and accessed by writing to Study.net (customerservice@study.net).

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

6

Marketing Strategy

Instructional Manual

In the table below, we list the C-CUBES cases that are relevant for the book, on a chapter-bychapter basis.

TITLE Listening to The Voice of The Customer

ABSTRACT This note describes how customer surveys can be used to gather customer input for a wide range of strategic decisions.

Pursuing the Right Prospects Fixing Sales and Bidding at GQS Through Data Analytics

This case shows how firms can improve sales and bidding by pursuing prospects that they have a greater chance of converting, rather than just prospects that are the largest.

This case shows how firms can improve sales and bidding by pursuing prospects that they have a greater chance of converting, rather than just prospects that are the largest.

This reading shows how firms can use logistic regression for customer insights.

Hollywood Regressed

Logistic Regression For Customer Insights

Furniture-Retail-in-GreaterHouston-A-and-B

This reading shows how firms can use data and analytics to develop a customer model.

Randomized-ExperimentsFor-Customer-Insights

This reading shows how firms can use randomized experiments for customer insights

HealFirst-Clinics-A

This reading shows how firms can use randomized experiments for customer insights

HealFirst-Clinics-B

This reading shows how firms can use randomized experiments for customer insights

Green Cover-Planning-toGo-Big-A

This reading shows how firms can use conjoint analysis for customer insights

Green Cover-Planning-toGo-Big-B

This reading shows how firms can use conjoint analysis for customer insights

AREA Marketing, Strategy, Business, Consumer Behavior, Marketing Research, Customer Analytics Marketing, Strategy, Business, Buying Behavior, Marketing Research, Customer Analytics

Suitable for Chapter 2,5,6,7

Marketing, Strategy, Business, Buying Behavior, Marketing Research, Customer Analytics

Chapter 2,8

Marketing strategy, logistic regression, analytics, strategy formulation, decision making, strategy Marketing strategy, strategy formulation, decision making, strategy, product, price, distribution, customer needs, technology, energy Marketing strategy, strategy formulation, decision making, strategy, product, price, distribution, customer needs, technology, energy Marketing strategy, strategy formulation, decision making, strategy, product, price, distribution, customer needs, technology, energy Marketing strategy, strategy formulation, decision making, strategy, product, price, distribution, customer needs, technology, energy Marketing strategy, strategy formulation, decision making, strategy, product, price, distribution, customer needs, technology, energy Marketing strategy, strategy formulation, decision making, strategy, product, price, distribution, customer

Chapter 3,8

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

Chapter 3,7, 8

Chapter 2,5,6,7,8

Chapter 2,5,6,7,8

Chapter 2,5,6,7,8

Chapter 2,5,6,7,8

Chapter 2,4,5,6,7,8

Chapter 2,4,5,6,7,8

7

Marketing Strategy

MODCO-Using-CustomerComplaints-andComplements-for-StrategyImplementation

This reading shows how firms can use conjoint analysis for customer insights

Instructional Manual

needs, technology, energy Marketing strategy, strategy formulation, decision making, strategy, product, price, distribution, customer needs, business-to-business

Chapter 2,5,6,7,8

2.5 Example Syllabi We have provided four complete syllabi for instructors to directly download and design their classes. We have provided two example syllabi for a marketing management/strategy class (i.e. one for an undergraduate class, and one for an MBA class), and two example syllabi for a marketing analytics class (one for an undergraduate class, and one for an MBA class). While each of these syllabi is for a 14-week session, you might pare it down to a shorter session (for use in EMBA classes) by combining materials from two class sessions in a 14-week class into one section for the 7-week class.

2.6 Test Bank We have provided a comprehensive test bank with 25 multiple choice questions, and 5 short answer questions from each chapter. To put a test together, you can customize the questions from across the chapters. The test bank is available from Palgrave’s Instructor only website.

2.7 Instructional Videos We are developing in-depth videos about key topics from the book, including the First Principles, marketing concepts, real business examples, and data analytical methods. More information will be soon available (est. May 2017). The videos are suitable for a full class session or short briefs and introduction of one topic.

2.8 Integrates Markstrat)

with

Marketing

Simulation

Software

(e.g.,

In addition to helping students understand the four First Principles and how they fit together, we discuss market simulation software, such as Markstrat, as a complement and experiential learning tool (see DAT 1.1). This interactive software requires real-time decisions by students that map onto the four Marketing Principles, while using the outputs of the other analyses © Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

8

Marketing Strategy

Instructional Manual

outlined in this book (e.g., positioning maps, multidimensional scaling, consumer surveys, marketing experiments, regression analysis, conjoint analysis) to inform key marketing decisions. Many professors and students find this experiential-based learning approach effective for understanding and demonstrating the power of the First Principles, as well as the importance of data analysis for real-world development and implementation of effective marketing strategy.

Other simulation software packages are also available and work as well, but Markstrat parallels our approach very closely.

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

9

Marketing Strategy

Instructional Manual

Delivering a Marketing Strategy Course

3.

3.1 Overarching Objectives For the marketing strategy course, objective would be to focus the course on strategically analyzing and solving marketing problems from a decision makers’ perspective. Overall, the marketing management/marketing strategy course would have two key learning objectives: • •

Understanding and effectively using the fundamental frameworks, processes, and analysis tools of marketing strategy Using the “first principles” of marketing strategy to solve business problems

3.2 Overall Course Structure The overall delivery of the class materials would be based on each of the four First Principles of Marketing Strategy. We break down the delivery of the component into the following components.

The first two lectures could provide an overview of marketing strategy, introduce each of the First Principles of Marketing Strategy, thus covering the purview of Chapter 1. These lectures could use the slide library from Chapter 1.

Chapters 2-8 covers each of the four First Principles of Marketing Strategy in detail. We recommend organizing 3-4 lectures for each chapter, using the following resources: o Slide Library for Lecture Content o Data Analytic Technique for overview of analytic techniques within the purview of each chapter o Broad Analytics Cases for application-based demonstration of each analytic technique o MeXL-based as well as JMP/R-based analytics case as assignment-based learning of each analytic technique (for MBA students). o Markstrat sessions to better understand the ground realities of the learning.

The last two lectures could provide a review of marketing strategy, and ideas on how the integrate the four First Principles of Marketing Strategy, which covers the purview of Chapter 9, and could use the slide library from Chapter 9.

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

10

Marketing Strategy

3.3 Course Structure Strategy/Management

for

Undergraduate

Instructional Manual

Marketing

Below, we present a detailed course structure for a 28 session undergraduate course. If the course is taught over 14 weeks, the class will meet twice a week, and cover two sessions in a week. If the course is taught over 7 weeks, the class will meet twice a week, and cover four sessions in a week (i.e. two sessions in each meeting). Moreover, we provide a detailed breakdown of session number, topic, instructional resource needed, and chapter, for each session.

Session

Week

Topic

Instructional Resource

Chapter

1

1.1

Overview and Benefits of Marketing Strategy

Instructor Slides

1

2

1.2

Overview of First Principle’s Approach (con’t)

Instructor Slides

1

3

2.1

Principle 1: All Customers are Different → Managing Customer Heterogeneity

Instructor Slides

2

4

2.2

Segmentation and Targeting Concept and Demonstration

5

3.1

Markstrat Session 1 and/or Case Assignment

6

3.2

Positioning Concepts and Demonstration

Analytic Technique

7

4.1

Markstrat Session 2 and/or Case Assignment

MeXL (Infiniti Case) Demonstration

8

4.2

Principle 2: All Customers Change → Managing Customer Dynamics

Instructor Slides

9

5.1

Markstrat Session 3 and/or Case

10

5.2

Choice Models Concept and Demonstration

11

6.1

Markstrat Session 4 and/or Case

12

6.2

Principle 3: All Competitors React → Managing Sustainable Competitive Advantage

13

7.1

Markstrat Session 5 and/or Case

14

7.2

Principle 3 (con’t): Managing Brand-Based Competitive Advantage

15

8.1

Markstrat Session 6 and/or Case

16

8.2

Principle 3 (con’t): Managing Offering-Based Competitive Advantage

17

9.1

Markstrat Session 7 and/or Case

18

9.2

Conjoint Concept and Demonstration

19

10.1

Markstrat Session 8 and/or Case

20

10.2

Principle 3 (con’t): Managing Relationship-Based Competitive Advantage

Analytic Technique, MeXL (Dentmax Case) DentMax Case Replication Assignment, Smartwatch Case

Analytic Technique, MeXL (TKL Case) TKL Case Replication Assignment AirBnB Case

2

3

3

Instructor Slides

4

Instructor Slides

5

Instructor Slides

6

Analytic Technique, MeXL (Exteriors Case) Exteriors Case Replication Assignment, MobilMax Case Instructor Slides

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

2

6

7

11

Marketing Strategy

21

11.1

Markstrat Session 9 and/or Case

22

11.2

Principle 4: All Resources are Limited → Managing Resource Tradeoffs

23

12.1

Markstrat Session 10 and/or Case

24

12.2

Response Models Concept and Demonstration

25

13.1

Markstrat Session 11 and/or Case

26

13.2

Integrating the Four Principles

27

14.1

Review of Markstrat Performance

28

14.2

Review of First Principles of Marketing

3.4 Graded Components Strategy/Management

for

Instructional Manual

Instructor Slides

Analytic Technique, MeXL (BRT Tribune Case) BRT Tribune Case Replication Assignment, Swoons Yogurt Case

8

8

Instructor Slides

9

Instructor Slides

9

Undergraduate

Marketing

You could consider the following graded component for the undergraduate course: Exams: The exam will be closed-book, and will help assess students’ understanding of the core conceptual materials discussed in the class. You could draw exam material from the question banks provided with each chapter.

Markstrat Simulation. Each team will run a business, in competition with the other teams in a dynamic environment. Each team will need to finish decisions by the weekly assigned deadline.

Each team’s overall results at the end of class will be evaluated on the basis of the stock price, which determines their final standing in Markstrat.

Case Replication: Students could turn in a replicated analysis of each of the four broad analytics cases in the class period after the case is discussed.

3.5 Example Syllabus Strategy/Management

for

Undergraduate

Marketing

We have provided an example syllabus for Undergraduate Marketing Strategy/Management Course on the course website.

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

12

Marketing Strategy

3.6 Course Structure for Strategy/Management

a

Graduate

(MBA)

Instructional Manual

Marketing

Below, we present a detailed course structure for a 28 session graduate (MBA) course. If the course is taught over 14 weeks, the class will meet twice a week, and cover two sessions in a week. If the course is taught over 7 weeks, the class will meet twice a week, and cover four sessions in a week (i.e. two sessions in each meeting). The key difference between he undergraduate and graduate course structure is the increased usage of data analytics cases (from MeXL or JMP/R). These cases are narrowly defined but provide application opportunities to use data analytics while learning marketing strategy. As with the undergraduate course, we provide a detailed breakdown of session number, topic, instructional resource needed, and the chapter, for each session.

Session

Week

Topic

Instructional Resource

Chapter

1

1.1

Overview and Benefits of Marketing Strategy

Instructor Slides

1

2

1.2

Overview of First Principle’s Approach (con’t)

Instructor Slides

1

3

2.1

Instructor Slides

2

4

2.2

5

3.1

Markstrat Session 1 and/or Case Assignment

6

3.2

Positioning Concepts and Demonstration

7

4.1

Markstrat Session 2 and/or Case Assignment

8

4.2

9

5.1

Principle 2: All Customers Change → Managing Customer Dynamics Markstrat Session 3 and/or Case

10

5.2

Choice Models Concept and Demonstration

11

6.1

Markstrat Session 4 and/or Case

12

6.2

13

7.1

14

7.2

15

8.1

16

8.2

17

9.1

Principle 3: All Competitors React → Managing Sustainable Competitive Advantage Markstrat Session 5 and/or Case Principle 3 (con’t): Managing Brand-Based Competitive Advantage Markstrat Session 6 and/or Case Principle 3 (con’t): Managing Offering-Based Competitive Advantage Markstrat Session 7 and/or Case

18

9.2

Conjoint Concept and Demonstration

19

10.1

Markstrat Session 8 and/or Case

Principle 1: All Customers are Different → Managing Customer Heterogeneity Segmentation and Targeting Concept and Demonstration

Analytic Technique, MeXL (Dentmax Case) Pacific Case Assignment, Smartwatch Case Analytic Technique MeXL (Infiniti Case) Demonstration Instructor Slides

Analytic Technique, MeXL (TKL Case) ABB Case Assignment, Airbnb Case

2

2

3

3

Instructor Slides

4

Instructor Slides

5

Instructor Slides

6

Analytic Technique, MeXL (Exteriors Case) Kirin Case Assignment, MobilMax Case

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

6

13

Marketing Strategy

Principle 3 (con’t): Managing RelationshipBased Competitive Advantage Markstrat Session 9 and/or Case

20

10.2

21

11.1

22

11.2

23

12.1

Principle 4: All Resources are Limited → Managing Resource Tradeoffs Markstrat Session 10 and/or Case

24

12.2

Response Models Concept and Demonstration

25

13.1

Markstrat Session 11 and/or Case

26

13.2

Integrating the Four Principles

27

14.1

Review of Markstrat Performance

28

14.2

Review of First Principles of Marketing

3.7 Graded Components Strategy/Management

for

Instructional Manual

Instructor Slides

7

Instructor Slides

8

Analytic Technique, MeXL (BRT Tribune Case) Syntex Case Assignment, Swoons Yogurt Case Instructor Slides Instructor Slides

Graduate

(MBA)

8

9 9

Marketing

You could consider the following graded component for the undergraduate course: Exams: The exam will be closed-book, and will help assess students’ understanding of the core conceptual materials discussed in the class. You could draw exam material from the question banks provided with each chapter.

Markstrat Simulation. Each team will run a business, in competition with the other teams in a dynamic environment. Each team will need to finish decisions by the weekly assigned deadline.

Each team’s overall results at the end of class will be evaluated on the basis of the stock price, which determines their final standing in Markstrat.

Case Replication: Students turn in a replicated analysis of each of the four broad analytics cases in the class period after the case is discussed.

Case Presentation: Students turn in an analytics presentation pertaining to the MeXL based analytics cases in the class period after the relevant data analytics technique is reviewed.

3.8 Example Syllabus Strategy/Management

for

Graduate

(MBA)

Marketing

We have provided an example syllabus for graduate (MBA) Marketing Strategy/Management Course on the course website. © Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

14

Marketing Strategy

Instructional Manual

Delivering a Marketing Analytics Course

4.

4.1 Overarching Objectives The objective of the course will be to show you the benefits of using a systematic and analytical approach to marketing decision-making. An analytical approach will enable you to: • •

Understand how the “first principles” of marketing strategy helps firms organize the analytics opportunity and challenge in today’s data era, and Use and execute data analytic techniques, and case studies to understand how to solve marketing analytics problems in a scientific and process-driven manner.

4.2 Overall Course Structure The overall delivery of the class materials would be based on each of the four First Principles of Marketing Strategy. We break down the delivery of the component into the following components.

The first three lectures could provide an overview of marketing strategy, introduce each of the First Principles of Marketing Strategy, thus covering the purview of Chapter 1. These lectures could use the slide library from Chapter 1. The initial lectures will also introduce MeXL as the Excel add-in that will assist in learning the analytic tools.

Next, we recommend breaking down five most commonly used analytic techniques (cluster analysis, positioning maps, logistic regressions, conjoint analysis, and market response models) under each of the four First Principles of Marketing Strategy (Chapters 2-8), and teaching them in the following order. o Slide Library for the respective First Principles of Marketing Strategy. o A deep dive into the analytic concept using the analytic technique’s slide library o A demonstration of the analytic concept using the Broad Analytics Cases relevant to the technique, and MeXL. o An application of the analytic concept using a MeXL-based analytics case from the case library (for MBA students).

The last three lectures could provide a review of marketing strategy, and ideas on how the integrate the four First Principles of Marketing Strategy (these could use the slide library from Chapter 9), and a summary of the analytic techniques. © Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

15

Marketing Strategy

Instructional Manual

4.3 Course Structure for Undergraduate Marketing Analytics Below, we present a detailed course structure for a 28 session undergraduate course. If the course is taught over 14 weeks, the class will meet twice a week, and cover two sessions in a week. If the course is taught over 7 weeks, the class will meet twice a week, and cover four sessions in a week (i.e. two sessions in each meeting). Moreover, we provide a detailed breakdown of session number, topic, instructional resource needed, and chapter, for each session.

Week

Topic

1.1 1.2 2.1

Overview and Benefits of Marketing Strategy Overview of First Principle’s Approach (con’t) Overview of MeXL Principle 1: All Customers are Different → Managing Customer Heterogeneity

2.2 3.1

Cluster Analysis Concept

3.2

Cluster Analysis Demonstration

4.1

Cluster Analysis Application Case

4.2

Positioning Maps Concepts and Demonstration

5.1

Positioning Maps Demonstration

5.2

Positioning Maps Applications Case

6.1

Principle 2: All Customers Change → Managing Customer Dynamics

6.2

Choice Models and Logistic Regression Concept

7.1

Choice Models and Logistic Regression Demonstration

7.2

Choice Models and Logistic Regression Case

8.1 8.2 9.1

Principle 3: All Competitors React → Managing Sustainable Competitive Advantage Principle 3 (con’t): Managing Brand-Based Competitive Advantage Principle 3 (con’t): Managing Offering-Based Competitive Advantage

9.2

Conjoint Concept

10.1

Conjoint Demonstration

10.2

Conjoint Concept and Demonstration

11.1

Principle 3 (con’t): Managing Relationship-Based Competitive

Instructional Resource (B.S.) Instructor Slides Instructor Slides Instructor Slides Instructor Slides Instructor SlidesAnalytics MeXL (Dentmax Case) DentMax Case Replication Assignment, Smartwatch Case Instructor SlidesAnalytics Instructor SlidesAnalytics MeXL (Infiniti Case) Demonstration Instructor Slides Instructor SlidesAnalytics MeXL (TKL Case) TKL Case Replication Assignment. AirBnB Case

1 1 2 2 2 2

2 3

3

3

Instructor Slides

4

Instructor Slides

5

Instructor Slides

6

Instructor SlidesAnalytics MeXL (Exteriors Case) Exteriors Case Replication Assignment, MobilMax Case Instructor Slides

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

Chapter

6

6 7 16

Marketing Strategy

Instructional Manual

Advantage 11.2

Principle 4: All Resources are Limited → Managing Resource Tradeoffs

12.1

Response Models Concept

12.2

Response Models Demonstration

13.1

Response Models Case

13.2 14.1 14.2

Integrating the Four Principles Review of Analytic Techniques Review of First Principles of Marketing

4.4 Graded Analytics

Components

Instructor Slides

8

Instructor SlidesAnalytics Analytic Technique, MeXL (BRT Tribune Case) BRT Tribune Case Replication Assignment, Swoons Yogurt Case Instructor Slides Instructor Slides Instructor Slides

for

Undergraduate

9 9

Marketing

You could consider the following graded component for the undergraduate course: Exams: The exam will be closed-book, and will help assess students’ understanding of the core conceptual materials discussed in the class. You could draw exam material from the question banks provided with each chapter.

Case Replication: Students could turn in a replicated analysis of each of the four broad analytics cases in the class period after the case is discussed.

4.5 Example Syllabus for Undergraduate Marketing Analytics We have provided an example syllabus for Undergraduate Marketing Analytics Course on the course website.

4.6 Course Analytics

Structure

for

a

Graduate

(MBA)

Marketing

Below, we present a detailed course structure for a 28 session graduate (MBA) course. If the course is taught over 14 weeks, the class will meet twice a week, and cover two sessions in a © Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

17

Marketing Strategy

Instructional Manual

week. If the course is taught over 7 weeks, the class will meet twice a week, and cover four sessions in a week (i.e. two sessions in each meeting). The key difference between he undergraduate and graduate course structure is the increased usage of data analytics cases (from MeXL). These cases are narrowly defined but provide application opportunities to use data analytics while learning marketing strategy. As with the undergraduate course, we provide a detailed breakdown of session number, topic, instructional resource needed, and the chapter, for each session.

Week

Topic

Instructional Resource (M.B.A.)

Chapter

1.1

Overview and Benefits of Marketing Strategy

Instructor Slides

1

1.2

Overview of First Principle’s Approach (con’t)

Instructor Slides

1

2.1

Overview of MeXL

Instructor Slides

2

2.2

Principle 1: All Customers are Different → Managing Customer Heterogeneity

Instructor Slides

2

3.1

Cluster Analysis Concept

Instructor SlidesAnalytics

2

3.2

Cluster Analysis Demonstration

MeXL (Dentmax Case)

2

4.1

Cluster Analysis Application Case

4.2

Positioning Maps Concepts and Demonstration

5.1

Positioning Maps Demonstration

5.2

Positioning Maps Applications Case

6.1

Principle 2: All Customers Change → Managing Customer Dynamics

Instructor Slides

6.2

Choice Models and Logistic Regression Concept

Instructor SlidesAnalytics

7.1

Choice Models and Logistic Regression Demonstration

MeXL (TKL Case)

7.2

Choice Models and Logistic Regression Case

ABB Case Assignment, AirBnB Case

8.1 8.2 9.1

Principle 3: All Competitors React → Managing Sustainable Competitive Advantage Principle 3 (con’t): Managing Brand-Based Competitive Advantage Principle 3 (con’t): Managing Offering-Based Competitive Advantage

Pacific Case Assignment, Smartwatch Case Instructor SlidesAnalytics Instructor SlidesAnalytics MeXL (Infiniti Case) Demonstration

3

3

3

Instructor Slides

4

Instructor Slides

5

Instructor Slides

6 6

9.2

Conjoint Concept

Instructor SlidesAnalytics

10.1

Conjoint Demonstration

MeXL (Exteriors Case)

10.2

Conjoint Concept and Demonstration

Kirin Case Assignment, MobilMax Case

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

2

6

18

Marketing Strategy

11.1 11.2

Principle 3 (con’t): Managing Relationship-Based Competitive Advantage Principle 4: All Resources are Limited → Managing Resource Tradeoffs

Instructor Slides

7

Instructor Slides

8

Instructor SlidesAnalytics Analytic Technique, MeXL (BRT Tribune Case) Syntex Case Assignment, Swoons Yogurt Case

12.1

Response Models Concept

12.2

Response Models Demonstration

13.1

Response Models Case

13.2

Integrating the Four Principles

Instructor Slides

14.1

Review of Analytic Techniques

Instructor Slides

14.2

Review of First Principles of Marketing

Instructor Slides

4.7 Graded Analytics

Instructional Manual

Components

for

Graduate

(MBA)

9

9

Marketing

You could consider the following graded component for the undergraduate course: Exams: The exam will be closed-book, and will help assess students’ understanding of the core conceptual materials discussed in the class. You could draw exam material from the question banks provided with each chapter.

Case Replication: Students turn in a replicated analysis of each of the four broad analytics cases in the class period after the case is discussed.

Case Presentation: Students turn in an analytics presentation pertaining to the MeXL based analytics cases in the class period after the relevant data analytics technique is reviewed.

4.8 Example Syllabus for Graduate (MBA) Marketing Analytics We have provided an example syllabus for graduate (MBA) Marketing Strategy/Management Course on the course website.

© Palmatier 2021, Marketing Strategy, Macmillan International Higher Education.

ISBN: 9781352011463

SOURCE: Browsegrades.net

19