SI CHEN EXAM 3 MBA 706 ACTUAL
PAPER SOLVED QUESTIONS
◉ Luxury Branding
Answer: Priced significantly higher than typical items in their
categories, luxury brands for years were about social status and
who a customer was—or perhaps wanted to be.
Became more about style and substance, combining personal
pleasure and self-expression.
◉ Characteristics of Luxury Branding
Answer: Quality
Uniqueness
◉ Managing Luxury brands
Answer: All marketing decisions associated with luxury brands
must be aligned to ensure that purchase and consumption
experiences are consistent with the image of the brand.
Includes the creation of a premium, aspirational image.
Frequently span categories, and as a result, their competitors are
often defined broadly.
Must protect their identity and aggressively combat trademark
infringement and counterfeits.
◉ Growth Opportunities
, Answer: Consider: The types of products and markets a company
should focus on, the ways in which a company can manage its
product-market growth strategy over time
Includes: planning new businesses, downsizing, terminating older
businesses
◉ Ansoff Matrix
Answer: Outlines four key sales-growth strategies that tie the
company's customer segments to opportunities for product
development.
Market-penetration, Market-development, Product-development,
Diversification
◉ Market-Penetration Strategy
Answer: Involves growing sales of the company's current offerings
to its existing customers.
Easiest to Implement.
Try to encourage its customers to buy more by demonstrating the
benefits of its products.
Identify new uses for its current products by educating customers
to use these products to fulfill different needs
◉ Market-Development Strategy
Answer: Identify potential user groups in the current sales areas.
Seek additional distribution channels by adding mass
merchandising or online channels.
PAPER SOLVED QUESTIONS
◉ Luxury Branding
Answer: Priced significantly higher than typical items in their
categories, luxury brands for years were about social status and
who a customer was—or perhaps wanted to be.
Became more about style and substance, combining personal
pleasure and self-expression.
◉ Characteristics of Luxury Branding
Answer: Quality
Uniqueness
◉ Managing Luxury brands
Answer: All marketing decisions associated with luxury brands
must be aligned to ensure that purchase and consumption
experiences are consistent with the image of the brand.
Includes the creation of a premium, aspirational image.
Frequently span categories, and as a result, their competitors are
often defined broadly.
Must protect their identity and aggressively combat trademark
infringement and counterfeits.
◉ Growth Opportunities
, Answer: Consider: The types of products and markets a company
should focus on, the ways in which a company can manage its
product-market growth strategy over time
Includes: planning new businesses, downsizing, terminating older
businesses
◉ Ansoff Matrix
Answer: Outlines four key sales-growth strategies that tie the
company's customer segments to opportunities for product
development.
Market-penetration, Market-development, Product-development,
Diversification
◉ Market-Penetration Strategy
Answer: Involves growing sales of the company's current offerings
to its existing customers.
Easiest to Implement.
Try to encourage its customers to buy more by demonstrating the
benefits of its products.
Identify new uses for its current products by educating customers
to use these products to fulfill different needs
◉ Market-Development Strategy
Answer: Identify potential user groups in the current sales areas.
Seek additional distribution channels by adding mass
merchandising or online channels.
