Zyla Energy Drinks Marketing Quiz

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Questions and Answers

What is the primary target age group for Zyla energy drinks?

46 years and older

36–45 years old

18–24 years old

25–35 years old (correct)

Which of the following is NOT one of the energy types available for Zyla drinks?

Vitality

Focus

Energy (correct)

Boost

What does the name 'Zyla' suggest about the brand's personality?

Traditional and conservative

Serious and corporate

Energetic and vibrant

Lazy and laid-back (correct)

How does Zyla align with consumer trends?

By providing low-calorie, natural energy drinks Signup and view all the answers

Which step is incorrectly associated with the Strategic Marketing process shown?

Operation Signup and view all the answers

What is the primary focus of market penetration strategy?

Increasing sales of existing products in an existing market Signup and view all the answers

Which strategy involves selling existing products into new markets?

Market Development Signup and view all the answers

What is a common tactic used in market penetration strategies?

Acquiring a competitor in the same market Signup and view all the answers

Which of the following strategies is considered the least risky?

Market Penetration Signup and view all the answers

What does product development focus on in the Ansoff Matrix?

Introducing new products to an existing market Signup and view all the answers

In which scenario would market development be considered a suitable strategy?

A company seeks to sell its current product line in a different geographical market Signup and view all the answers

What type of investment is generally required for market development?

Minimal investment in R&D or product development Signup and view all the answers

What can be an execution strategy for market penetration?

Increasing marketing efforts or streamlining distribution processes Signup and view all the answers

What is a characteristic of international expansion as a marketing strategy?

Expanding into foreign markets with proven products Signup and view all the answers

What distinguishes product development from other marketing strategies in the Ansoff Matrix?

It focuses on existing customer segments while creating new products Signup and view all the answers

Which type of diversification is considered to be lower risk?

Related diversification leveraging existing synergies Signup and view all the answers

Why might a company invest heavily in R&D for product development?

To create new offerings for existing loyal customer segments Signup and view all the answers

What potential opportunity does diversification primarily offer a company?

Reduction of reliance on a single product/market fit Signup and view all the answers

What is a primary risk associated with diversification strategies?

The requirement of both product and market development Signup and view all the answers

Which of the following strategies does NOT relate to the Ansoff Matrix?

Customer retention Signup and view all the answers

In the context of a company expanding into new markets, what does the term 'share of wallet' refer to?

The total amount a customer spends on a company’s offerings Signup and view all the answers

What does the 'T' in the STP marketing approach represent?

Targeting Signup and view all the answers

Which marketing strategy aims to attract all potential customers?

Mass marketing Signup and view all the answers

What should companies do according to the principle of positioning in the STP model?

Develop a unique statement for each target segment Signup and view all the answers

What is the main focus of target marketing?

To identify and focus on specific groups of consumers Signup and view all the answers

What is a significant drawback of mass marketing?

It fails to address the specific needs of individual segments Signup and view all the answers

Which step is NOT part of the STP approach?

Conducting competitor analysis Signup and view all the answers

Which approach suggests that one cannot serve all customer needs effectively?

STP approach Signup and view all the answers

What is the first step in the STP process?

Segmentation Signup and view all the answers

Which of the following is NOT a base for segmentation?

Product price Signup and view all the answers

Which of the following is a characteristic of effective targeting?

Identifying only the most profitable segments Signup and view all the answers

What are the 4 Ps in Kotler's marketing mix model?

Product, Price, Place, Promotion Signup and view all the answers

Which of the following is NOT part of the 7 Ps in marketing?

Performance Signup and view all the answers

What does personalization in marketing aim to achieve?

To increase marketing relevancy through user insights Signup and view all the answers

Which strategy involves gaining trust through influential figures?

Peer-to-Peer marketing Signup and view all the answers

What does predictive modeling in marketing help determine?

The next marketing moves required Signup and view all the answers

Which of the following represents the infinite expansion of the P’s in marketing?

Integrating additional factors based on analysis Signup and view all the answers

Which of the following is a strategy to enhance the credibility of a product?

Marketing through opinion leaders Signup and view all the answers

What is emphasized when identifying relevant factors in marketing analysis?

Collaboration with peers Signup and view all the answers

What is the focus of the course outline related to customer understanding?

Customer behavior, needs, and experiences Signup and view all the answers

Which step in strategic marketing emphasizes the use of data and AI?

Research & Insights Signup and view all the answers

What does 'responsible marketing' encompass according to the course outline?

Sustainable and ethical marketing practices Signup and view all the answers

Which aspect of marketing is addressed in the topic of 'Emerging technology'?

AI, Gen AI, and tech-led marketing reinvention Signup and view all the answers

What is the primary aim of agile marketing?

To ensure resilience and adaptability in marketing Signup and view all the answers

Which of the following is NOT mentioned in the course outline as a focus area?

Customer segmentation techniques Signup and view all the answers

What is the significance of 'Brand & Purpose' in the course outline?

Establishing trust and brand identity Signup and view all the answers

In the context of customer insights, what drives effective decision-making?

Data-driven insights and human understanding Signup and view all the answers

What does 'Market & Competition' aim to achieve in strategic marketing?

Developing unique selling propositions and competitive advantages Signup and view all the answers

What is a primary characteristic of strategic marketing outlined in the course?

It involves a step-by-step process. Signup and view all the answers

Study Notes

IHEC Strategic Marketing 2024-2025

Course taught by Olivier Schunck
Dates: 2024-2025

How to Participate

Go to wooclap.com
Enter event code YOURMIND in the top banner
Enable answers by SMS
Link: https://app.wooclap.com/events/YOURMIND/0

Class Communications

Presentations uploaded to Moodle before class
Exercises and solutions uploaded for note taking are blank before class and the correct exercises and solutions are provided after class.

Course Outline

Marketing's Journey: Brief history of marketing, current marketing landscape.
Strategic Marketing: Basics of marketing explained, step-by-step process
Customer Centricity: Customer behavior & needs, distinctive customer experiences.
Research & Insights: Customer intelligence, data-driven insights, AI/human insights
Market & Competition: Competitive advantage, innovation & standing out.
Brand & Purpose: Brand identity, trust and purpose-driven marketing
Responsible Marketing: Marketing in times of crisis - Sustainable & Ethical marketing.
Digital & Social Marketing: Marketing strategy in the Digital Era.
Emerging Technology: AI, Gen Al & emerging technology-led Marketing Reinvention
Agile Marketing: Resilient & agile marketing operating models

Strategic Marketing: step-by-step process - STEP 3

Overall Ambition: Set general direction, Purpose, Vision/Mission, Branding, Goals & Objectives.
Situation Analysis: Identify opportunities (external and internal analysis), identify value potential.
Marketing Strategy: Make strategic choices, Strategic options (Segment, Target, Position), Evaluation & Choice
Integrated Mktg program: Develop components of marketing mix, capability gaps, plan, budgets and KPI's.
Execution & Evaluation: Put strategy into action, implementation/organization, monitoring and evaluation

The Ansoff Matrix

A two-by-two grid for planning and evaluating growth strategies.
Categories include: Existing Markets/Existing Products (Market Penetration - 1); Existing Markets/New Products (Product Development - 3); New Markets/Existing Products (Market Development - 2); New Markets/New Products (Diversification - 4).
Market Penetration: Increasing sales of existing products in existing markets.
Market Development: Selling existing products in new markets.
Product Development: Introducing new products to existing markets.
Diversification: Entering new markets with new products.

Market Penetration

Least risky strategy, sells more of existing products to existing markets.
Typical execution strategies include increasing marketing, streamlining distribution, and acquiring competitors
Example: A packaged goods company may offer price changes with a larger grocery store chain to secure additional shelf space for pet foods, to increase sales.

Market Development

One of the least risky strategies - selling existing products into new markets.
Typical approaches used are to cater to a new customer segment/demographic, entering a new domestic markets, or entering into a foreign market.
Example: A popular athleisure brand expanding into the Asia Pacific market; requires advertising and logistics infrastructure.

Product Development

Expanding market share of wallet, potentially achieved with new products.
Example: A beauty product company creating a new line of products to capitalize on existing loyal and popular customer base.

Diversification

Highest risk strategy- involves a combination of new products and new markets.
Related Diversification: Where new products can benefit from synergies with the existing business.
Unrelated Diversification: Little, if any, synergy.

A portfolio management framework for prioritizing businesses by profitability.
Star: High growth, high market share (significant investment).
Cash cow: Low growth, high market share (generate large cash flow for reinvestment).
Question mark: High growth, low market share (investment or divestment decision).
Pet: Low growth, low market share (liquidation, divestment or repositioning).
The model allows companies to prioritize investment and allocate resources to the most profitable aspects of the business.

Marketing Strategy: STP (Segmentation, Targeting, Positioning)

Segmentation: Dividing a broad market into smaller, distinct groups based on characteristics.
Targeting: Identifying the most attractive segments for the company to focus on.
Positioning: Differentiating a brand/product in the mind of the target customer.

Market Segmentation

Aggregating buyers based on characteristics for targeted marketing activities.
Geographic segmentation: Location, density, climate.
Demographic segmentation: Age, gender, income, family.
Behavioral segmentation: Usage rates, purchasing behaviors.
Psychographic segmentation: Lifestyle, values, and attitudes.

Targeting the Market

Evaluating segment potential and deciding how to reach them
Differentiated marketing: Addressing multiple segments, often with unique marketing plans.
Concentrated/Niche marketing: Focusing on just one segment; ideal for smaller businesses.
Relatively Competitive Position: Companies evaluating their position in the segments and market and how to optimize strategies.

Positioning in the Market

Defining the brand's place in the customers' minds and establishing a relevant value proposition.
Brand Perception Map: A visualization tool to illustrate how a brand is positioned in relation to its competitors.

Marketing Strategy (Evaluation and Choice)

Evaluating potential financial impact of decisions
High-level analysis - First financial impact for evaluation and choice support

Marketing Mix Model

Kotler's 4 P's (Product, Price, Place, Promotion).
7 P's (People, Processes, Physical Evidence).

Marketing Plan and Budget

SMART Goals: Specific, Measurable, Attainable, Relevant, and Time-bound.
Budgeting: Planning marketing strategies to prioritize allocation and ensure budget feasibility.
CMO/CFO Partnership: The need for a trusted and effective relationship between Marketing and Finance departments to increase transparency and understanding.

Execution and Evaluation

Monitoring sales, customer satisfaction, conversion rates, and competitor reactions.
Marketing dashboards: Provide insights into campaign effectiveness and performance
A continuous process of improvement and adaptation.

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Description

Test your knowledge about Zyla energy drinks and their marketing strategies! This quiz covers topics such as target demographics, market penetration, and the Ansoff Matrix. Determine how well you understand contemporary marketing practices related to Zyla's brand and products.