Marketing Concepts

Marketing Concepts

Responses to all questions are to be incorporated in ONE document. Response to each question attempted should be at least 500 words but should not exceed 600 words. Suggested font is Times New Roman (12 point), double spaced and adhere to APA guidelines. All sources should be scholar and within the past 7 years.

1. Identify a firm in today’s environment that you believe has shortcomings in its understanding and implementation of the ‘Marketing concept’ - that focuses on creating, delivering and communicating superior customer value to target markets. Discuss the problems you see in that firm’s strategies. How might this firm better align its strategy with the marketing concept to achieve and sustain strategic advantage over its competitors in the market place (use references “a” and any other you think)?

2. Regarding Christensen’s paper on Rules of Innovation (see reference b), discuss an example of a firm to analyze how it has responded to a challenge from a transformational technology that threatened its historical business model. In this context discuss the organizational factors that may have helped or hindered its appropriate response to new technologies (use references “a” and any other you think)?

3. Choose a firm that demonstrates an excellent referral marketing strategy. a) How does the firm’s referral marketing strategy help connect with its customers? b) What type of firms are most suitable for a referral marketing program? Give reasons (use references “a” and any other you think).

4. What are the components of brand loyalty? Is B2C consumer brand loyalty thought to be on the rise or decline? Does brand loyalty apply in the same way in B2B marketing? Please review references “a, c.d.e” and any other you think).

5. Brand extensions help companies to introduce new products under an established brand name. However, if the brand extension is not a good fit with the parent brand then it can actually hurt the latter (i.e., parent brand). Discuss a case where brand extension failed and damaged the brand equity of the parent brand. Give reasons as to why the brand extension failed (use references “a” and any other you think).