NUEVA VIZCAYA STATE UNIVERSITY

Bambang, Nueva Vizcaya

COLLEGE ARTS AND SCIENCES

COMPILATION OF OUTPUT
FOR
MARKETING MANAGEMENT

SUBMITTED BY:
GAMPONIA, CHRISTIAN PAUL C.
GABOGEN, JOYCE ANNE S.
MADERA, ZYREL JOVEN C.
VILLANUEVA, REAN ABQAESSA A.
BSCOOP1A

SUBMITTED TO:
MARGEL AIRA C. SADILI-TANGUNAN
Instructor
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1. LIST SOME QUESTIONAIRE DO’S AND DON’TS

DO’S DON’T
Clearly state the purpose of the Use leading or biased questions.
questionnaire.
Use clear and concise language. Overwhelm respondents with too many
questions.

Include a mix of open-ended and closed- Include jargon or technical terms that may
ended questions. confuse respondents.

Keep the questionnaire length reasonable. Ask sensitive or personal questions without
proper justification.

Use a logical flow and order of questions.
Provide response options that cover all
possible answers.
Ensure the questionnaire is easy to
understand and complete.
Use double-barreled questions (asking
multiple questions in one).
Use vague or ambiguous language.
Assume respondents have certain knowledge
or experiences.

Test the questionnaire before distributing it Force respondents to select an answer that
to ensure clarity and effectiveness. doesn't accurately reflect their opinion.

Maintain respondent confidentiality and Use complex or lengthy sentences.

anonymity.

. Provide a space for additional comments or Skip important demographic or background

suggestions. questions.

2. Provide possible reasons why many marketing research projects fail

1. Poorly defined research objectives and questions.

2. Inadequate sample size or sampling methods.
3. Lack of clear data collection and analysis plan.
4. Bias in data collection or analysis.
5. Insufficient resources or budget for conducting thorough research.
6. Inaccurate interpretation of research findings.
7. Failure to consider external factors or changes in the market.
8. Ineffective communication of research results to decision-makers.
9. Lack of follow-up or implementation of research findings.

10. Failure to adapt research methods to changing consumer behavior or

technological advancements.

3. Africa Mutual Insurance wants to help companies of all sizes and types
handle their retirement and insurance needs. According to previous
feedback, all business customers ―receive the same quality service and
care and the same freedom of choice regardless of size.

a. Which research approaches would be most helpful in identifying

any problems that customers might have experienced in working
with Africa Mutual Insurance consultants?

- Surveys or questionnaires to gather feedback from customers about their

experiences.
- In-depth interviews or focus groups to allow customers to express their
concerns and provide detailed feedback.
- Analysis of customer complaints or feedback received through customer
service channels.

b. If company marketers decide to collect primary data, would you

recommend they use closed-end or open-end questions? Why?

- It would be beneficial to use a combination of closed-end and open-end

questions. Closed-end questions provide specific response options and are
useful for gathering quantitative data and comparing responses. Open-end
questions allow customers to provide detailed feedback and insights,
capturing qualitative data that can uncover valuable insights and specific
problems.

c. Draft a brief questionnaire that Africa Mutual Insurance could use to

identify additional needs that the company might try to satisfy with
new financial services products or services.

1. Current Financial Services Usage

- What financial services do you currently use with Africa Mutual Insurance?
- Are there any specific services you find essential or lacking in your current
plan?

2. Financial Goals and Challenges

- What are your primary financial goals in the next 1-5 years?
- What financial challenges do you face that you believe insurance products
could help address?
3. Risk Management Needs
- Do you feel adequately covered against potential risks such as health
emergencies, property damage, or income loss?
- Are there specific areas where you feel you need more insurance coverage?

4. Digital Service Preferences

- How comfortable are you with using digital platforms for insurance-related
tasks?
- Would you prefer more digital services for easier access and management
of your insurance products?

5. Satisfaction and Loyalty

- On a scale of 1-10, how satisfied are you with Africa Mutual Insurance's
current financial services?
- Would you consider switching to another provider for better-suited
financial products?

6. Financial Stress and Future Planning

- Have recent events, such as the pandemic, impacted your financial stability
or future planning?
- Are there any specific financial concerns you have that you would like
insurance products to address?

7. Feedback and Suggestions

- Is there any specific financial service or product you wish Africa Mutual
Insurance offered?
- Do you have any suggestions for improving the current range of financial
services provided by Africa Mutual Insurance?
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1. Consider the lifetime value of customers (CLV).
a) Choose a business and show how you would go about developing a
quantitative formulation that captures the concept.

1. Calculate the average purchase value: Determine the average amount

customers spend on each purchase.
2. Calculate the purchase frequency: Analyze how often customers make
purchases within a specific time frame.
3. Calculate the customer lifespan: Determine the average duration of the
customer's relationship with the business.
4. Calculate the customer retention rate: Measure the percentage of
customers who continue to make purchases over time.
5. Calculate the CLV: Multiply the average purchase value by the purchase
frequency and customer lifespan, and then multiply it by the customer
retention rate.

b) How would organizations change if they totally embraced the

customer equity concept and maximized CLV?

1. Customer-centric strategies: Organizations would tailor their products,

services, and marketing efforts to meet the specific needs and preferences
of their target customers.
2. Relationship building: Organizations would invest in building strong
relationships with customers, fostering loyalty and repeat business.
3. Personalization: Organizations would leverage data and technology to
personalize interactions with customers, providing customized offers,
recommendations, and experiences.
4. Retention-focused approach: Organizations would prioritize customer
retention over acquiring new customers, recognizing the value of nurturing
existing customer relationships.
 5. Continuous improvement: Organizations would regularly analyze
customer data and feedback to identify areas for improvement and enhance
the customer experience.
6. Lifetime value optimization: Organizations would actively work to
increase CLV by optimizing pricing strategies, cross-selling and upselling,
and improving customer satisfaction and loyalty.
2. Describe the main perils of CRM.

CRM, which stands for Customer Relationship Management, is a crucial

strategy for businesses to manage interactions with their customers and
potential customers. While CRM offers numerous benefits, there are also
some perils associated with its implementation. Here are some of the main
perils of CRM:
1. Data Security Concerns: One of the significant perils of CRM is the risk of
data breaches and security vulnerabilities. CRM systems store vast amounts
of sensitive customer data, including personal information and purchase
history. If this data falls into the wrong hands, it can lead to severe
consequences for both the customers and the company.
2. Over-reliance on Technology: Implementing CRM systems can sometimes
lead to over-reliance on technology to manage customer relationships. This
may result in a lack of personal touch and human interaction, which are
essential for building strong relationships with customers.
3. Misinterpretation of Data: CRM systems collect and analyze a vast amount
of customer data. However, misinterpreting this data or making decisions
based on incorrect interpretations can lead to ineffective marketing
strategies, poor customer service, and ultimately, loss of customers.
4. Integration Challenges: Integrating CRM systems with existing systems and
processes within an organization can be complex and challenging. If not done
correctly, it can lead to inefficiencies, data silos, and inconsistencies in
customer interactions.
5. Cost of Implementation and Maintenance: Implementing a CRM system
can be expensive, both in terms of initial setup costs and ongoing
maintenance. Small businesses, in particular, may find it challenging to afford
the investment required for a comprehensive CRM solution.
6. Employee Resistance: Employees within an organization may resist the
implementation of CRM systems due to concerns about job security,
changes in job roles, or the perceived complexity of using the new system. This
resistance can hinder the successful adoption and utilization of CRM tools.
7. Lack of Customization: Off-the-shelf CRM solutions may not always meet
the specific needs and requirements of a business. Lack of customization
options can limit the effectiveness of the CRM system in addressing unique
customer relationship management challenges. 8. Inadequate Training:
Proper training is essential for employees to effectively use CRM systems.
Inadequate training can lead to underutilization of the system, errors in data
entry, and overall inefficiencies in customer interactions.
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1.Is the targeting of minorities exploitative or is it sound business practice?

Targeting minorities ethically and professionally can be beneficial, but it's
crucial for businesses to strike a balance between exploitation and inclusivity,
ensuring they address their unique needs and preferences..
 2. Consider some of the consumer behavior topics. How might you apply
them to business-to-business settings? For example, how might non-
compensatory models of choice work?
Non-compensatory models of choice could still play a significant role. Instead
of individual consumers, you're dealing with organizations making purchasing
decisions. For instance, in supplier selection, a company might use a non-
compensatory model to eliminate options that don't meet certain criteria, such as
quality standards or price thresholds, before considering other factors. This helps
streamline the decision-making process and ensures that key requirements are met
without compromise.
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 1.How can you relate the different models of brand equity presented in
this module? How are they similar? How are they different? Can you
construct a brand equity model that incorporates the best aspects of
each model?
Absolutely! Brands’ various models that intents to hut all possible
ways in a brand can mean to consumers. Though there many of them
some common ones are: The Aaker Model, The Keller Model and The Brand Asset
Valuator (BAV). Let us look at them briefly: the Aaker Model (translated by
David Aaker) This describes five perspectives on how customers perceive
themselves or others in relation to a product or service: connection with
oneself (self-image), similarity with oneself (social identification), affiliation
(small group), contrasting oneself with others (anti-identification),
reproduction (self-esteem maintenance) are just some among them; these
aspects relate closely to social categorization.

2.What can be achieved by an effective identity?

Through an effective identity, a brand or organization may benefit in
several ways: Benefits arising out of strong brand recognition; differentiation
through effective identity; trust and credibility. Brand Recognition is the first
benefit to be discussed. A strong identity helps consumers easily recognize
and remember the brand, hence making them more likely to purchase while
building loyalty amongst these individuals. Differentiation is another key
advantage that comes with having an effective logo or any other type of
trademark because such designs distinguish your products/services from
those offered by other companies hence making a unique identification
between yours and theirs. Trust and Credibility is perhaps the most
important reason why a company should have good branding strategies or
use professional design services when developing a corporate image.
Moreover, a powerful brand identity can lure top talent who understand
what a company stands for and its common culture; this creates a better-
equipped internal team plus improved company image. In the end, the role of
an effective identity is that it forms a basis upon which firms establish lasting
brands people can associate with, fostering customer loyalty and ensuring
perpetual success in the market.
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1.Pick an industry. Classify firms according to the four different roles

they might play: leader, challenger, follower, or nicher. How would you
characterize the nature of competition? Do the firms follow the
principles described in the module?
Let's consider the smartphone industry as an example
Leader: Apple Inc. with its iPhone series.
Challenger: Samsung Electronics with its Galaxy series.
Follower: Xiaomi with its Mi series.
Nicher: OnePlus with its premium smartphones targeting tech
enthusiasts.
The nature of competition in the smartphone industry is intense and
dynamic. It is characterized by constant innovation, rapid technological
advancements, and fierce competition for market share. The firms in
this industry strive to differentiate themselves through product features, design,
user experience, and brand image.
The principles described in the module, such as understanding customer
needs, creating a unique value proposition, building strong brand equity, and
adapting to market changes, are followed by firms in the smartphone
industry. They invest heavily in research and development, marketing, and
customer experience to gain a competitive edge.

2.Discuss the pros and cons of the following statement: The best way
to challenge a leader is to attack its strengths versus the best way to
attack a leader is to avoid a head-on assault and to adopt a flanking
strategy.
"The best way to challenge a leader is to attack its strengths":
Pros:
Targeting a leader's strengths can directly confront their competitive
advantage and potentially weaken their position. - It allows for a direct
comparison of strengths, showcasing the challenger's unique value
proposition.
Cons:
Attacking a leader's strengths can be risky, as they may have established a
strong reputation and customer loyalty in those areas. - The leader may have
resources and capabilities to defend their strengths and respond with
countermeasures.

"The best way to attack a leader is to avoid a head-on assault and to adopt a
flanking strategy"
Pros:
A flanking strategy allows a challenger to target areas where the leader may
be less dominant or vulnerable. - It enables the challenger to differentiate
themselves and create a unique position in the market.
Cons:
A flanking strategy may require significant resources and investment to build
capabilities in new areas. - It may take longer to gain market share and
establish a strong position compared to a direct assault on the leader's
strengths.
Ultimately, the choice between attacking a leader's strengths or adopting a
flanking strategy depends on the specific market dynamics, the challenger's
resources and capabilities, and the competitive landscape. Both approaches
have their merits and risks, and the best strategy will vary based on the
circumstances and objectives of the challenger.