Marketing instruments

Question 1

Marketing Mix

Answer 1

Product (Offering nix)

Price (Offering mix)

Promotion (Communication mix)

Placement (Distribution channel mix)

Question 2

Product Policy

Answer 2

1. Assortmentment policy (Assortment width, Assorment depth)
2. Product characteristics (Core product, Product shell)
3. Packaging
4. Additional services
5. Brand policy (No name, Branded)
6. Naming

Question 3

Policy of Price and conditions

Answer 3

1. Price determination (Cost-based, Demand - based, Competition - based, Value - based)
2. Price differentiation (Local, Customer-based, Temporal, Volume-based, Usage-based, Product-based)
3. Price development (Premium price, promotion price, penetration price, skimmimg price)
4. Conditions (Warranty, return policy, (cash) Discount/bonus), delivery and payment conditions

Question 4

Buying Process of Customers

Answer 4

Need realisation - Information research - Evaluation of alternatives - Buying decision - Buying, or not buying - Post -purchase behaviour

Question 5

Need realization:

Pyramid of needs (A. Maslow)

Answer 5

1. Physiological needs (food, drinking)
2. Safety needs (ensuring survival , provision for future)
3. Social needs (contact to other people)
4. Meed for social respect and social esteem)
5. Need for self actualisation

Question 6

Information sources

Answer 6

• Personal : family, friends
• Commercial: advertisemesnts, bloggers/ influencers, sales representatives
• Public: Tests in trade journals, opinions/
  assessments and tests on the internet incl.
  buyer ratings on platforms

Question 7

Influences on Customer Behavior After

Purchase

Answer 7

• Customer satisfaction:

Delivery, e.g. punctual, complete, tracking option
Customer service for complaints, repairs, queries
Provision of complementary information, e.g. on
web page for customers or through customer mailings

• Customer retention:

➢Cross-selling potential
➢Lower price sensitivity
➢Acquisition of new customers much more costly than keeping
existing customers happy to stimulate repeat orders
➢Often valuable information source due to trusted relationship
➢Buyers can influence other potential buyers!

Question 8

Promotion Policy

Answer 8

1. Advertising:

• Advertising budget;
• Adirtising object;
• Target group;
• Advertising medium;
• Means of promotion;

2. Sales promotion:

• Intermediary;
• Salespeople;
• Consumers;

3. Further product
   related instruments of
   communication:

• Product- placement;
• Fairs;
• Direct - marketing;

4. Public relations:

• Internal PR;
• Expernal PR;

Question 9

Distribution politics

Answer 9

• Distribution channel decision (Direct Sales, INdirect sales)
• Distribution logistics