LB5202 Marketing Management Report
Answer FOUR (4) questions out of the following five questions.
Question 1 (Total 25 marks)
You are the Marketing Director of a Michelin star restaurant chain in Singapore. Recently, COVID-19 related disruptions have contributed to temporary closure of all your restaurant chains thereby threatening the future profitability of your company.
a. Identify two changes you would undertake in your marketing plan to overcome potential threats to the company’s future profitability (15 marks)
b. At a strategic level, would you reconsider and alter the underlying consumer focused marketing philosophy driving business operations? If yes, why? If no, why not? (10 marks)
Question 2 (Total 25 marks)
Assume that you are appointed to assist the Marketing Director of an Electronics company. In your first assignment you have to evaluate the market opportunities for selling laptops in a lower socio-economic segment in an emerging marketing. You want to recommend that to sell laptops to this segment the company needs to adopt value-based pricing.
a. What kind of value-based pricing strategy would you recommend for the lower socio-economic group of customers? (5 marks)
b. Discuss the product strategy which would support the value-based pricing (10 marks)
You have been appointed the Director of Communications for a sustainable fast fashion company that wants to engage millennial customers more effectively by using the social media platform. Until now, the company was relying on more traditional communication strategies such as billboard, print and TV advertising.
a. How would social selling be adopted to engage the millennial customers to buy the products sold by the company? (15 marks)
b. How would the value chain of this sustainable brand differ from the value chain of other fast fashion brands? (10 marks)
Question 4 (Total 25 marks)
Singapore’s leading supermarket chain, Fair Price has recently appointed a Data Analyst to help the supermarket chain to develop more comprehensive insights into the shopping behaviour of their customers from the data collected from the Fair Price loyalty card. Until recently, Fair Price only gave loyal customers the option to redeem their loyalty points for a discount on their total shopping bill. The job of the Data Analyst will be to develop and use new insights from the loyalty card to nurture long term relationships with the Fair Price customers.
a. How could long term customer relationship building initiatives be beneficial to Fair Price? (10 marks)
b. What CRM strategies could Fair Price adopt to ensure that they were spending the right amount of resources on the right customer segments? (15 marks)
Question 5 (25 marks)
You are the manager of the company ‘Home-fitness’ that specialises in selling fitness equipment for exercising at home. Review of the company’s recent financial performance suggests that there is a steady decline in demand for home fitness equipment as more people choose to go to the gym. Based on these results, the company has decided to reposition it’s brand image.
a. Describe the product life cycle concept and outline the steps that Home-Fitness should take as sales start to decline (10 marks)
b. Develop a brand identity prism for the repositioned ‘Home-fitness’ brand (15 marks)