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?

<p>By providing low-calorie, natural energy drinks (C)</p> Signup and view all the answers

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

<p>Operation (C)</p> Signup and view all the answers

What is the primary focus of market penetration strategy?

<p>Increasing sales of existing products in an existing market (A)</p> Signup and view all the answers

Which strategy involves selling existing products into new markets?

<p>Market Development (C)</p> Signup and view all the answers

What is a common tactic used in market penetration strategies?

<p>Acquiring a competitor in the same market (D)</p> Signup and view all the answers

Which of the following strategies is considered the least risky?

<p>Market Penetration (D)</p> Signup and view all the answers

What does product development focus on in the Ansoff Matrix?

<p>Introducing new products to an existing market (B)</p> Signup and view all the answers

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

<p>A company seeks to sell its current product line in a different geographical market (A)</p> Signup and view all the answers

What type of investment is generally required for market development?

<p>Minimal investment in R&amp;D or product development (C)</p> Signup and view all the answers

What can be an execution strategy for market penetration?

<p>Increasing marketing efforts or streamlining distribution processes (A)</p> Signup and view all the answers

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

<p>Expanding into foreign markets with proven products (D)</p> Signup and view all the answers

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

<p>It focuses on existing customer segments while creating new products (A)</p> Signup and view all the answers

Which type of diversification is considered to be lower risk?

<p>Related diversification leveraging existing synergies (D)</p> Signup and view all the answers

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

<p>To create new offerings for existing loyal customer segments (C)</p> Signup and view all the answers

What potential opportunity does diversification primarily offer a company?

<p>Reduction of reliance on a single product/market fit (C)</p> Signup and view all the answers

What is a primary risk associated with diversification strategies?

<p>The requirement of both product and market development (D)</p> Signup and view all the answers

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

<p>Customer retention (D)</p> 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?

<p>The total amount a customer spends on a company’s offerings (B)</p> Signup and view all the answers

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

<p>Targeting (A)</p> Signup and view all the answers

Which marketing strategy aims to attract all potential customers?

<p>Mass marketing (B)</p> Signup and view all the answers

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

<p>Develop a unique statement for each target segment (B)</p> Signup and view all the answers

What is the main focus of target marketing?

<p>To identify and focus on specific groups of consumers (D)</p> Signup and view all the answers

What is a significant drawback of mass marketing?

<p>It fails to address the specific needs of individual segments (D)</p> Signup and view all the answers

Which step is NOT part of the STP approach?

<p>Conducting competitor analysis (B)</p> Signup and view all the answers

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

<p>STP approach (B)</p> Signup and view all the answers

What is the first step in the STP process?

<p>Segmentation (A)</p> Signup and view all the answers

Which of the following is NOT a base for segmentation?

<p>Product price (C)</p> Signup and view all the answers

Which of the following is a characteristic of effective targeting?

<p>Identifying only the most profitable segments (A)</p> Signup and view all the answers

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

<p>Product, Price, Place, Promotion (C)</p> Signup and view all the answers

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

<p>Performance (D)</p> Signup and view all the answers

What does personalization in marketing aim to achieve?

<p>To increase marketing relevancy through user insights (B)</p> Signup and view all the answers

Which strategy involves gaining trust through influential figures?

<p>Peer-to-Peer marketing (D)</p> Signup and view all the answers

What does predictive modeling in marketing help determine?

<p>The next marketing moves required (C)</p> Signup and view all the answers

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

<p>Integrating additional factors based on analysis (C)</p> Signup and view all the answers

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

<p>Marketing through opinion leaders (B)</p> Signup and view all the answers

What is emphasized when identifying relevant factors in marketing analysis?

<p>Collaboration with peers (B)</p> Signup and view all the answers

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

<p>Customer behavior, needs, and experiences (C)</p> Signup and view all the answers

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

<p>Research &amp; Insights (D)</p> Signup and view all the answers

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

<p>Sustainable and ethical marketing practices (C)</p> Signup and view all the answers

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

<p>AI, Gen AI, and tech-led marketing reinvention (C)</p> Signup and view all the answers

What is the primary aim of agile marketing?

<p>To ensure resilience and adaptability in marketing (D)</p> Signup and view all the answers

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

<p>Customer segmentation techniques (B)</p> Signup and view all the answers

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

<p>Establishing trust and brand identity (B)</p> Signup and view all the answers

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

<p>Data-driven insights and human understanding (B)</p> Signup and view all the answers

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

<p>Developing unique selling propositions and competitive advantages (A)</p> Signup and view all the answers

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

<p>It involves a step-by-step process. (D)</p> Signup and view all the answers

Flashcards

Customer Centricity

The process of understanding your customers by analyzing their behavior and needs, and creating unique experiences for them.

Responsible Marketing

A marketing strategy that focuses on creating and delivering value to customers in a way that is sustainable and ethical.

Brand Identity

The unique set of elements that define a brand, such as its values, personality, and visual identity.

Agile Marketing

The ability of a marketing team to adapt quickly to changing circumstances and market dynamics.

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Research and Insights

The process of identifying opportunities and challenges in the market using data, insights from customers, and AI.

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Digital Marketing

A marketing strategy that leverages the power of digital technologies like social media, search engines, and mobile apps.

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Competitive Advantage

The ability of a brand to stand out from its competitors and create a distinct position in the market.

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Strategic Marketing

The process of developing and implementing a marketing strategy based on understanding customer needs and market trends.

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Purpose-Driven Marketing

The process of creating and delivering value for customers while considering the impact on society and the environment.

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Brand Purpose

An overview of a brand's philosophy and its values.

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Market Penetration

A strategic approach to increase sales of existing products in current markets. Examples include increasing marketing efforts, streamlining distribution, or lowering prices.

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Market Development

Focuses on selling existing products in new markets. This strategy involves expanding into new regions, customer segments, or distribution channels.

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Product Development

Introducing new products to an existing market. Product development requires research and development (R&D) investment to create new offerings.

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Diversification

Entering a new market with entirely new products. This is the riskiest strategy, requiring significant R&D and market analysis.

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The Ansoff Matrix

A framework designed by Igor Ansoff in 1957 to help businesses analyze and choose strategic growth options. It categorizes strategies based on the combination of new or existing products and markets.

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Relative Risk

Refers to the risk associated with different strategic options. Market penetration is generally considered the least risky strategy, followed by market development, product development, and finally diversification, which is the most risky.

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Market Adaptation

The process of adapting a product or service for a different market, considering cultural preferences, language, regulations, or other factors that may differentiate the new target audience.

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Securing Incremental Shelf Space

A strategy to gain more shelf space in a retail store, potentially by offering price discounts or promotional deals.

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Regional Expansion

Expanding into a geographic area within the same country. For example, a local bakery might open a new store in a different city, but still remain inside the same country.

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International Expansion

Expanding into a completely new country or region. For example, a clothing brand might start selling its clothes in a new country, like expanding from the USA into Canada.

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Share of Wallet Expansion

Increasing the value or usage of an existing product or service by customers. For example, a coffee shop might introduce new loyalty programs or perks to increase customer engagement.

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Related Diversification

Entering a new market closely related to your existing product offerings. For example, a bakery might introduce a line of pastries that complement their existing bread products.

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Unrelated Diversification

Entering a new market with a completely new product or service that has no connection to your existing business. For example, a bakery might start selling coffee and tea.

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Energy Drink Market

The category of beverages with invigorating effects, aiming to boost energy levels, focus, and vitality. It's a competitive market with a strong focus on natural, low-calorie options.

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Zyla

A brand of energy drinks appealing to young professionals and parents that emphasizes a natural, low-calorie approach. It uses a fun, quirky brand name and aims to stand out in a crowded market.

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Brand Positioning

One of the key elements of strategic marketing focusing on making the brand appealing to a specific target audience. It involves building a strong brand identity, promoting core values and creating a unique brand experience.

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Competitive Analysis

The process of identifying and analyzing the competitors in the market. It focuses on understanding their strengths and weaknesses and their impact on the business.

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Mass Marketing

A marketing strategy where companies design products and services to appeal to the broadest possible audience, aiming to reach everyone in the market.

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Target Marketing

A marketing strategy where companies focus their efforts on specific customer groups with shared characteristics.

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Market Segmentation

The process of dividing a market into distinct groups of customers with similar needs, characteristics, or behaviors.

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Targeting

The process of selecting specific market segments to target with marketing efforts, based on their potential and attractiveness.

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Positioning

The process of creating a distinct and valued place for a product or service in the minds of the target customers.

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STP

A strategic framework used for market segmentation, targeting, and positioning.

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Segmentation Bases

Characteristics used to divide a market into segments, such as demographics, psychographics, or behavior.

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Target Segment Profile

A detailed description of a target segment, outlining their key characteristics, needs, and preferences.

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Segment Evaluation

Evaluating the potential and commercial attractiveness of each market segment, considering factors like size, growth, and profitability.

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Marketing Mix for Each Segment

The combination of marketing mix elements (product, price, place, promotion) tailored specifically for each chosen target segment.

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Study Notes

IHEC Strategic Marketing 2024-2025

  • Course taught by Olivier Schunck
  • Dates: 2024-2025

How to Participate

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.

BCG Growth Share Matrix

  • 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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ICHEC Strategic Marketing Past Paper PDF 2024-2025
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