Marketing

Table of Contents

1. Topic pack - Marketing - introduction
2. 4.1 The role of marketing - notes
3. 4.1 The role of marketing - questions
4. 4.2 Marketing Planning - notes
5. 4.2 Marketing planning - questions
   1. Market research - self-test
   2. Marketing plans - self-test
   3. Marketing objectives & strategy - self-test
   4. The marketing mix - case study
   5. Marketing plan - case study
   6. Marketing objectives and market share
   7. The role of market research
   8. Primary and secondary research - short answer questions
   9. Questionnaires - short answer questions
   10. Market segmentation - short answer questions
   11. Sales forecasting - short answer questions
   12. Sales forecasting - case study
   13. Forecasting techniques - short answer questions
   14. Forecasting techniques - numerical questions
   15. Cyclical variation - numerical question
   16. Marketing strategies - short answer questions
   17. Marketing strategies - case study
   18. Marketing strategies - case study (2)
   19. The Business of Ageing
   20. The online music revolution
   21. Marketing and ethics
   22. Make it green and keep them keen
   23. 'Green' Gifts
   24. Changing times
   25. TryIT - Marketing Maze Green Yachts
6. 4.3 Product introduction - notes
7. 4.3 Product - questions
8. 4.3 Product - simulations and activities
9. 4.4 Price - notes
10. 4.4 Price - questions
11. 4.4 Price - simulations and activities
12. 4.4 Promotion - notes
13. 4.5 Promotion - questions
14. 4.6 Place (distribution) - notes
15. 4.7 International marketing - notes
16. 4.7 International marketing - questions
17. 4.8 E-commerce - notes
18. 4.8 E-commerce - questions
19. Printable version

TryIT - Marketing Maze Green Yachts

Now that you have considered many of the different ways that companies market their products, why not try it out for yourself and see how well you can market a product.

In the window below is the Maze Green Yachts online business simulation. In this, you get to see how well you can run a major international yacht manufacturer.

To test how well you can market their yachts, go to the Maze Green business simulation (you can either do this in the window below or you can open it in a separate window by following the previous link).

In the simulation you can change the levels of promotion spending. You can also adjust the pricing of the various products and see how this affects the product portfolio. The company sell a range of yachts from small to large and these have different characteristics. Have a browse around (under the 'Make changes' tab to see the difference between all the products. Then try answering the following questions.

N.B This section repeats some of the earlier questions in this module.

Question 1

Explain the difference between above the line and below the line promotion.

Question 2

Comment on whether the values of the price and income elasticities will differ between the Maze Green products at the bottom of the price range and the top of the price range.

Question 3

Try running the simulation for two years, while increasing just promotion spending. Identify the impact this had on sales.

Question 4

Try running the simulation for two years, while decreasing just promotion spending. Identify the impact this had on sales.

Question 5

Try running the simulation for one year, while increasing the prices of the yachts by 5%. How much have sales gone down by? Calculate the value of the price elasticity of demand for the yachts.

Question 6

Now try the same while increasing the prices of the yachts by 20%. How much have sales gone down by? Identify the change in price elasticity of demand for the yachts.

Question 7

Now try the same while increasing the prices of the yachts by 50%. How much have sales gone down by? Identify whether the price elasticity of demand for the yachts changed.

Question 8

Try running the simulation for one year while decreasing the prices of the yachts by 5%. How much have sales gone up by? What is the value of the price elasticity of demand for the yachts?

Question 9

Now try the same while decreasing the prices of the yachts by 20%. How much have sales gone up by? Has the price elasticity of demand for the yachts changed?

Question 10

Now try the same while decreasing the prices of the yachts by 50%. How much have sales gone up by? Has the price elasticity of demand for the yachts changed?

Question 11

Analyse how the value of the price elasticity of demand is likely to affect your optimum pricing strategy.

Question 12

Develop an appropriate marketing strategy for Maze Green Yachts for the launch of a new yacht. The new product is aimed at the highest income earners and is the largest yacht in their product range. Customers are able to individualise the yachts to a significant extent.

Question 13

Discuss the marketing problems that Maze Green Yachts are likely to face if they undertake a major international expansion.

Question 14

The United Kingdom is considering joining the European single currency. As the Maze Green finance director you have been asked by the Board of Directors to write a report evaluating whether Maze Green should support this move.