30 Questions
What is the primary goal of targeting in marketing?
To identify the target market for a product
Which of the following is NOT a type of targeting strategy?
Novice marketing
What is the process of creating a unique and distinctive image of a product in the customer's mind?
Positioning
What is the term for a product's life cycle stage where sales decline due to market saturation and competition?
Decline
Which of the following is NOT a component of a company's marketing mix?
Culture
What is the primary goal of search engine optimization (SEO) in marketing?
To increase website traffic
What is the term for a competitive strategy that involves creating a product that is unique and superior to competitors' products?
Differentiation
What is the primary objective of a competitive strategy in terms of market share?
Capturing competitors' market share and customers.
What is the last stage in the product life cycle where sales decline?
Decline stage
What is the primary objective of branding for organizations?
To increase brand equity
What type of repositioning strategy involves using the same product and target market?
Image repositioning
What are the three levels of a product?
Core, Actual and Augmented
What is the primary benefit of E-marketing?
Creating a dialogue
What is the last group of individuals to adopt a product?
Laggards
What constitutes a brand's visual identity?
Brand assets
What determines the position of a webpage in search engine results?
Algorithm of the search engine
What is the strategy of positioning a brand as an ingredient of a product?
Ingredient branding
In which stage of the product life cycle is the marketer's objective to 'hold' the market share?
Maturity
What characterizes a company like Amazon or iTunes?
Business-to-Consumer (B2C) online communication
What is the primary goal of a fully integrated marketing communication campaign?
To protect market share
What prompted Air New Zealand to re-evaluate its communication strategy in 2009?
All of the above
What is the primary objective of the 'The great Air New Zealand take off' integrated retail promotion sale?
To synergistically promote the 'Nothing to Hide' campaign
What aspect of the 'Nothing to Hide' campaign contributed to its global reach?
The uploading of the in-flight safety video on YouTube
What stage of the product life cycle is Air New Zealand's domestic service likely in, given the launch of Jetstar's domestic service?
Growth stage
What is the primary goal of search engine optimization (SEO) in the context of the 'Nothing to Hide' campaign?
To increase website traffic
What is the primary objective of creating a unique brand identity in the 'Nothing to Hide' campaign?
To differentiate from competitors
What is the primary goal of competitive strategy in the aviation industry?
To create a product that is unique and superior to competitors
What is the primary objective of the Communication Process Model in the context of the 'Nothing to Hide' campaign?
To convey a message effectively
What is the primary goal of the 'Bloopers of the safety video' online content?
To generate social media conversation
What is the primary objective of the 'Fair Trading Act 1986' in the context of the 'Nothing to Hide' campaign?
To protect consumers from unfair practices
Study Notes
Target Marketing
- Target marketing refers to the choice of specific segments to serve and is a key element in marketing strategy.
- There are four targeting strategies: undifferentiated marketing, differentiated marketing, focused marketing, and customized marketing.
Branding
- Brand assets include symbols, features, taglines, logos, and images that form part of a brand's identity.
- Brand personality refers to the characteristics that a brand takes on, such as being friendly or luxurious.
Product Life Cycle
- The product life cycle consists of four stages: introduction, growth, maturity, and decline.
- In the maturity stage, the marketer's objective is to hold the product's market share.
Marketing Mix
- The width of a product mix refers to the number of product lines an organization offers.
- The depth of a product mix refers to the number of products within a product line.
Online Communication Options
- B2C (business-to-consumer) online communication options include Amazon and iTunes.
Positioning
- Positioning refers to the act of designing a company's offering to occupy a meaningful and distinct image in the target customer's mind.
- The four criteria to evaluate successful positioning are clarity, consistency, credibility, and competitiveness.
Product Repositioning
- Product repositioning involves changing the target market or product features to appeal to a new market.
- Image repositioning involves changing the image or brand personality to appeal to a new market.
E-Marketing
- E-marketing allows companies to create a dialogue with customers.
- The four criteria to evaluate successful e-marketing are clarity, consistency, credibility, and competitiveness.
Integrated Marketing Communication (IMC)
- IMC involves using multiple tools to communicate with customers, including TV commercials, retail promotions, and social media.
- IMC tools used in Air New Zealand's Nothing to Hide campaign include:
- Television commercial
- In-flight safety video
- YouTube videos
- Social media conversation
Service Staff
- Service staff play a crucial role in creating a quality service experience.
- Good service staff can enhance the customer experience, while bad service staff can detract from it.
Pricing for International Markets
- Pricing products for international markets involves considering factors such as currency exchange rates, cultural differences, and competition.
Digital Marketing
- The 5S Model outlines the objectives of digital marketing, including:
- Scope
- Site
- Synergy
- Substance
- Simulation
Communication Process Model
- The Communication Process Model involves five elements:
- Source
- Encoder
- Message
- Channel
- Receiver
This quiz assesses your understanding of different investment management strategies. Identify the correct approach from the given options.
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