Exam (elaborations)
Exam Feb 2017 Strategic Marketing with answers
- Module
- Institution
Strategic Marketing Management FEB 2017, with answers.
[Show more]
1 review
By: EileenWang • 6 year ago
Seller
Follow
leolas
Reviews received
Content preview
Question 1: The role of marketing in the firm (25 points)A. Many people have argued that marketing has been losing ground in the firm.
1. Discuss three trends that according to Webster et al. (2005) have, over the years,
lead to reducing marketing spending.
2. However, reducing marketing spending may be detrimental for the company.
Provide three potential outcomes for the company named in the same study, and
discuss why they would be harming the company.
B. Verhoef and Leeflang (2009) as well as Feng, Morgan and Rego (2015) investigated
the influence of the marketing department in the firm. Their conclusions partly
overlap, partly not. Discuss findings of the two studies, and show how they are
similar/different with regard to:
1. The influence of marketing in the firm.
2. The impact of stronger influence of marketing on firm performance.
C. In any case, investing in marketing is not without value for companies, Chandly et al.
(2014) investigated the importance of marketing and financial skills for small firms in
emerging countries. How does marketing differ from finance in creating value for
companies in this research? Please link them to the two main types of competitive
strategies (and name these strategies) as proposed by Porter (1980).
A. 1. Focus on short-term revenues, earnings, stock prices etc.; inability to prove
marketing’s contribution, lack of accountability, shift in channel power, pressure for
cost reduction.
2. Weakened brands: brands are less appealing, less brand equity, less revenue
premium. Lack of true innovation: true (radical) new products create most value for
the company.
Declining market power: more powerful brands have better deals with retailers and
suppliers, and mostly more effective in marketing actions.
Price erosion: less revenue premium, margins under pressure.
B. 1. VL: influence of marketing is perceived as not high
FMR: influence of marketing is up
2. VL: no direct but positive indirect effect of marketing influence on firm
performance, fully mediated by market orientation.
FMR: no direct but positive indirect effect of marketing influence on ST firm
performance (return on assets). Positive direct and indirect impact of marketing on LT
firm performance (total shareholder return).
C. Marketing: growth path:
Marketing/sales activities that increase sales; based on market research, marketing
tactics, sales tactics.
Can be linked to Differentiation strategy of Porter.
Finance: efficiency path:
Finance/accounting activities that decrease costs, based on financial tracking.
Can be linked to Cost Leadership strategy of Porter.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller leolas. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.45. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now