Marketing: An Introduction Plus MyMarketingLab with Pearson eText -- Access Card Package (13th Edition)
13th Edition
ISBN: 9780134472492
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 10, Problem 10.16VC
Summary Introduction
Case summary:
Company P is the one of the top I Industry which focuses on innovation. Company P was the 1st company to offer installment payment of premium, 24/7 customer service and drive-in claim service. However, Company P’s most important move is its way of channel of distribution. Most of the I companies distribute their policies by direct contact with customer or intermediary agents, Company P was the 1st company to do both.
Later in 1980s, Company P distribution channel included 800 agency number channels. Two years ago, Company P was the 1st company to start digital media by creating website. Soon after, its 1st insurance policy was auto insurance policy through online service. Today, customers manage everything through Company P website from managing their account informations to directly reporting the claims.
Characters in the case:
- Company P
- Company I
Introduction:
Channel is a level which includes the middlemen in the business to sell products to the final customer.
Direct
Indirect marketing channel is the process of “including many intermediaries” to make the product reach to final buyers.
To discuss: The customer and business channels of Company P and in what manner each channel will meet their customer needs.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
You should access one of the short videos of the LinkedIn course "International Business Foundations" by Kyle Hegarty. The discussion is about the content of the segment "Research market conditions for increased chances of success" that can be found in part 2 of the course under: "Improve Your Chances of Winning Overseas."
Once you have watched the segment, please answer the following question:
What do you think will be the most critical challenge for the expansion of the company you selected into the international market targeted?
Marketing to the Bottom of the Pyramid (BOP)
Review the Marketing to the Bottom of the Pyramid case study. This case can be found in the “Case” section of your required textbook.
As a junior member of your company’s committee to explore new markets, you have received a memo from the chairperson telling you to be prepared at the next meeting to discuss key questions that need to be addressed if the company decides to look further into marketing to the BOP segment. Compile a PowerPoint presentation that you will deliver at the next meeting to underpin a set of general guidelines to use in developing a strategy for any one of the company’s products to be marketed to the “aspirational poor.” These guidelines do not need to be company or product specific, and can almost resemble a checklist of questions that the company could use as a starting point in evaluating the potential of a specific BOP marketing segment for one of its products. Be sure to incorporate concepts from the case study,…
A PEST analysis can be an effective framework to use in Corporate Strategy. PEST is an acronym for Political, Economic, Social, and Technological. In very basic terms, a PEST analysis can help you determine how these factors will affect the performance and activities of your business in the long term. It can be used either to analyze the current company situation in a given market or to explore the situation at a new market the organization is considering expanding to. Please watch the following video discussing a PEST analysis in detail:
Once you are done watching the video select any product you regularly use in your daily life and provide a description of the following:
Selected product
Features
Intended target market
Select either one of the areas Political, Economic, Social, Technological and conduct and analysis considering the United States as its reference market
Select the most important factors that can impact the sales of the product
Explain the reasoning behind your…
Chapter 10 Solutions
Marketing: An Introduction Plus MyMarketingLab with Pearson eText -- Access Card Package (13th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- You will be conducting a strategic analysis of the country and product you selected in module one. You will explore the optimal way for an AI-powered smart standing desk into the foreign country of Vietnam and develop a marketing plan to support its entry into this new market. Executive Summary The Executive Summary, which is always written last, is a high-level overview and provides major highlights of your project, you will add this to your submission in module 7 and it will appear first in your paper after your cover page. This week's submission should include the following: Company and Product Description Provide a detailed description of the company Provide a detailed description of the product Outline and explain the advantages of your product Describe a list of product benefits and features Discuss any additional product line opportunities you may consider for your target market Objectives and goals Identify the aims and goals of your plan in this section of the…arrow_forwardGood reponse to this statement? Cultural Factors to Consider for Tesla's Entry into Ecuador: In entering Ecuador with Tesla, it is important to consider the local cultural environment. Three key areas of culture to be considered are social institutions, living standards, and language.1. Social Institutions (Business Etiquette and Communication Styles)Ecuadorian business culture is formal and hierarchical. Professionals are addressed with titles of Doctor or Ingeniero, and business attire is conservative. Establishing trust founded on personal relationships and polite conversation is also paramount in establishing successful partnerships (Privacy Shield, n.d.).2. Living Conditions (Urban Infrastructure and Transportation)The cities such as Quito and Guayaquil are densely populated and prone to heavy traffic. Ecuador is actively adopting sustainable transport. For instance, there have been introduced new electric public transportation systems with high capacity and also friendly to…arrow_forwardA sample concepts personifying the target market of young adults or teenagers, defined in terms of demographic, psychographic and geographic characteristics.arrow_forward
- From a cultural perspective, based on research that you have conducted. Select three of the listed topics you consider relevant to explore in your discussion that will help a company better understand what it is like to live as a citizen in the country you have chosen: geography, social institutions (e.g., family, education, politics, legal system, and social welfare), religion, living conditions, and language.arrow_forward'Memories in a box' is a business involved in gift baskets for all occassions and event planning located in Trinidad and tobago a) Provide a brief background of the company. include the business concept and give justification for the profitability of this venture in the current market or economy. b) Emphasize the unique selling points of the business. C) Identify the products and services that the company intends to offer, to include the target market. d) State the strategic vision and mission for the business.arrow_forwardWhat are the 10 things/places/foods/culture or anything that could showcase the attractiveness of the Philippines to foreign investors? To encourage them to invest?arrow_forward
- Examine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization elaborate on Outsourcing and Workforce Optimization• Outsourcing customer support to third-party providers in cost-effective locations can reduce expenses while maintaining service availability. • Workforce Optimization uses data analytics to schedule staff efficiently, ensuring the right number of agents are available based on demand patterns, minimizing idle time and overtime costs. • Hybrid Models combine in-house teams for high-value interactions and outsourced teams for routine inquiries, balancing quality and cost.arrow_forwardExamine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization 2. AI-driven customer supportarrow_forwardThe various objectives of promotion. What ways does promotion benefit marketers?arrow_forward
- | do not copy from another same ques answer,i need differe nt one. Task Description: One of the most important questions faced by business leaders in the strategic marketing process is a choice of timing to launch new product/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, the relative success of each strategy depends on several factors, both internal and external. Tasks: Answer the following essay questions: 1. What are the advantages of being a pioneer and follower company? Provide examples of successful pioneer and follower companies. 2. What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support statements made. Follow instruction: 1. Word: within 2500 word, not bellow 2400. 2. Give table, charts, diagrams, graphs and images should be properly cited and properly named.arrow_forwardWhat is a good response to this statement? Hi Class, The global company that I believe does an excellent job of marketing is Salesforce. According to Salesforce, the International Data Corporation (IDC) ranked Salesforce as the #1 CRM vendor worldwide. (Salesforce, 2024) Every business relies on a CRM to manage its contact data, specifically, the contact information so that sales and marketing teams can communicate with the customers, prospects, vendors, partners, affiliates, and any other contact that conducts business with the company. CRM systems are the lifeline of the sales team. I believe the success of Salesforce’s marketing strategy lies in their ability to become experts of their buyers—the buyer's needs and challenges, buying drivers, social and economic drivers, and trial-to-product adoption strategies. Salesforce is constantly innovating its platform to stay ahead of competitors. The company also leverages strategic acquisitions such as Tableau and Slack to propel growth…arrow_forwardWhat is a good response to this post? Hi Class, The global company that I believe does an excellent job of marketing is Salesforce. According to Salesforce, the International Data Corporation (IDC) ranked Salesforce as the #1 CRM vendor worldwide. (Salesforce, 2024) Every business relies on a CRM to manage its contact data, specifically, the contact information so that sales and marketing teams can communicate with the customers, prospects, vendors, partners, affiliates, and any other contact that conducts business with the company. CRM systems are the lifeline of the sales team. I believe the success of Salesforce’s marketing strategy lies in their ability to become experts of their buyers—the buyer's needs and challenges, buying drivers, social and economic drivers, and trial-to-product adoption strategies. Salesforce is constantly innovating its platform to stay ahead of competitors. The company also leverages strategic acquisitions such as Tableau and Slack to propel growth and…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning