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Understanding Marketing Strategies

This document contains a student's responses to various marketing questions and exercises. For the pricing discussion, the student explains that they are not as concerned about price for durable goods that they will use for a long time, such as shoes and jeans, and prioritize comfort, durability and design instead. They also answer multiple choice questions about the product life cycle and define various marketing terms.

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Ângela Dominicci Sato
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47 views2 pages

Understanding Marketing Strategies

This document contains a student's responses to various marketing questions and exercises. For the pricing discussion, the student explains that they are not as concerned about price for durable goods that they will use for a long time, such as shoes and jeans, and prioritize comfort, durability and design instead. They also answer multiple choice questions about the product life cycle and define various marketing terms.

Uploaded by

Ângela Dominicci Sato
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Ângela Dominicci Sato - 2019001768

● Lead-in
I like the third definition the most, because the first two are very simplistic
and don’t really reflect the reality of marketing, as it has already developed into
a strategic sector of any company. The last one is against my personal values, as
I don’t condone buying in excess and playing with people's emotions to make
them spend more.
● Vocabulary

1-distribution channel; 2-wholesaler; 3-market segmentation; 4-product


differentiation; 5-market opportunity; 6-market skimming; 7-sales
representative; 8-product features; 9-price elasticity; 10-market penetration

● Reading: The product life cycle

1-D; 2-A; 3-B; 4-C / 1-F; 2-E; 3-G; 4-H / 1-J; 2-K; 3-L; 4-I / 1-P; 2-N; 3-M; 4-O

● Discussion: Pricing - choose one!

3-Products that are not price sensitive for me are the ones that will last me for
a long time, because if I’ll be tied to that product until it cannot function
anymore, I’d like for it to be exactly the way I want it to be. For example, if I’m
getting new shoes or a new pair of jeans, I don’t think too much about price and
focus on the comfort, durability and aesthetic of them, because I’ll wear them
until they are ripping into pieces.

● Reading: Marketing is everything

1-They focused on changing the customers’ minds to fit the product.

2-Because there was an increase in competition as technology developed.

3-Market driven companies create rather than control the market, adapting
their products to fit their customers’ strategies.

4-He means that the approach is going to impact neither the customers nor the
market itself.

5-Because marketing turned into a way of doing business, integrating the


customer into the design of the product.

6-He rejects the idea that marketing is about fooling the customer or falsifying
the company’s image.

7-They are integrated into the design of the product.


8-Becoming too fixated on R&D may lead to forgetting about the other aspects
of doing business.

9-The market-share mentality makes the company lose sight of the bigger
picture, fighting over crumbs.

10-The real end-goal is to become so differentiated in the market and with such
a pull that you are the one that defines it, so the prices, the quality, everything
else is a generic version of your product and your brand.

● Listening 1

1-They first tried “sampling”, giving the customers a small taste of the product
for them to try out.

2-Because the product would sell itself, as the people would like the product
after they tried it.

3-They wanted something very visual that would touch the people, the problem is
that it was an expensive experience and it wasn’t very effective as there wasn’t
enough awareness of the product yet for that type of advertisement.

● Listening 2

1-Publicity in the papers and free publicity overall.

2-It has a temporary effect.

3-Because it takes effect immediately and the customers that come in to try
something new will keep coming back if they end up liking the product.

Common questions

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The transition of marketing as a business function involves integrating marketing into the overall business strategy, engaging customers actively in product design, and moving away from deceitful practices. This new perspective promotes transparency, customer-centered product development, and creating genuine value for consumers rather than manipulating perceptions .

Angela Dominicci Sato suggests that for long-lasting products, consumers should prioritize comfort, durability, and aesthetics over price. This is because these products will remain with the consumer until they cease to function effectively, so it is crucial that they meet personal standards and preferences, ensuring satisfaction throughout their use .

Angela Dominicci Sato believes that a successful brand should strive for differentiation so significant that it effectively defines the market. The company should aim to make its product and brand the benchmark upon which others are modeled, thereby dictating quality standards and pricing more generally, transcending mere competition .

Angela Dominicci Sato suggests that the 'market-share mentality' can be detrimental as it causes companies to focus narrowly on competition for existing market space. This fixation often diverts attention from broader strategic objectives, diminishing the company's vision and leading them to overlook innovative avenues for defining the market themselves .

Angela Dominicci Sato proposes that companies should adapt by shifting focus from mere market control to innovation and customer-centric strategies. By reshaping markets through responsive product development and strategy alignment with consumer preferences, companies can create niche dominance despite increased competition from technological advancements .

Angela Dominicci Sato rejects traditional marketing definitions because they are overly simplistic and fail to capture the strategic significance of marketing in contemporary business operations. She feels these definitions do not align with her personal values, especially those that emphasize excessive consumption or emotional manipulation to drive sales, which she personally disapproves of .

Although the document does not provide a detailed explanation on 'market skimming,' the concept typically involves setting a high price for a new product to maximize profits from segments willing to pay more before gradually lowering the price. This strategy helps capitalize on consumers who perceive higher value in premium pricing, aligning with dynamic pricing strategies .

Angela Dominicci Sato views market-driven companies as entities that create markets instead of merely controlling them. These companies adapt their products to align with their customers' strategies, essentially integrating the customer into the product development process, which leads to more tailored and consumer-friendly offerings .

Angela Dominicci Sato differentiates by noting that short-term promotional strategies, such as sampling and publicity, offer immediate but temporary effects on consumer engagement. Long-term marketing effectiveness, on the other hand, is driven by building customer relationships and integrating consumer feedback, facilitating sustained market presence and securing a loyal customer base over time .

Angela Dominicci Sato warns that over-focusing on research and development (R&D) can lead to neglecting other critical business aspects, such as marketing and customer engagement. This myopic focus may result in businesses missing out on broader market opportunities or failing to connect their innovations to consumer needs effectively .

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