Marketing Chapter 1 3 Revised

7/30/2019 Marketing Chapter 1 3 Revised

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Chapter 1 Role of MarketingAnswers to Think it over (p.2)

1 The readers can get their morning newspapers free of charge. They have easy access to the

latest news because all free newspapers are distributed at convenient locations. The readers

can also kill time by reading the free newspapers while commuting to work.

2 Yes, changing lifestyles in Hong Kong account for the rapid growth of free newspapers.

Hong Kong people lead a hectic lifestyle. Free newspapers meet their needs. As Hong Kong

people become busier and have less time to read newspapers, they like to read newspapers in a

cost-effective manner. For this reason, most Hong Kong people grab free newspapers before

getting on the bus or MTR. This can save time because they can read the newspapers while

commuting to work. Thus, free newspapers are becoming more popular.

3 Yes, the success of free newspapers in Hong Kong is related to their marketing practices.

Free newspapers look like an A3 size stapled book. Their appearance is different from

traditional paid-for newspapers. This new size allows readers to easily grab and read

themwhen travelling on board a crowded MTR or bus. Moreover, most readers just want an

overview of the latest news that they can read while commuting. In an attempt to meet

readers needs, all news in free newspapers is condensed into relatively short reports instead ofmore detailed stories.

Free newspapers adopt a free pricing strategy. Because the newspaper is free-of-charge, most

readers would like one. All free newspapers are distributed at convenient locations so that

readers can easily get a copy. These marketing practices have resulted in high circulation for

free newspapers. Their high circulation allows the publishers to readily promote their

newspapers to advertisers and generate even more advertising revenues.

4 In the face of keen competition from free newspapers, paid-for Chinese newspapers should

focus on readers who have more time to read detailed news reports.

To differentiate themselves from free newspapers, paid-for newspapers should provide

information that is not available in free newspapers. For instance, paid-for newspapers

should take advantage of their relatively greater financial resources (as they charge buyers) to

provide their target readers with a greater variety of news, information and special columns,

etc. As paid-for newspapers have long-established relationships with advertisers, they can

collaborate with their advertisers (e.g., PARKnSHOP, McDonalds) to take part in joint

promotions. This can give their readers more value for money.


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p.3

Teachers guide

Teachers can begin with famous enterprises or organisations (i.e., profit-making organisations and

non-profit making organisations) and use them as an example to show students how marketing

concepts are applied in the real world.

p.5

Try This Activity

A1 The value that customers can gain from Sony Corporations Playstation is the entertainment

they receive. They can also gain the admiration of their friends by using this trendy product.

The obvious value for Sony is the revenue received from selling its Playstation products.

A2 The process of exchanging values at my school:

Step 1: The school identifies the students needs to acquire knowledge, achieve all-round

development and attain good examination results, especially in public examinations.

Based on this identification, the school designs various courses accordingly.

Step 2: Students then enrol in the school by paying an appropriate school fee.

Step 3: After attending classes in the school, students would then be able to acquire

knowledge, achieve all-round development as well as attain satisfactory examination

results (value for the students).Step 4: The school would, in turn, gain a reputation and enjoy an increasing number of

applications, as well as receive more revenue (value for the school).

Additional information

Marketing can be defined as managing profitable customer relationships. The twofold goal of

marketing is to (1) attract new customers by promising superior value and (2) keep and increase the

number of current customers by delivering satisfaction.


Needs are states of felt deprivation and are a basic part of the human condition.

Needs include:

physical needs for food, clothing, warmth and safety;

social needs for belonging and affection; and

individual needs for knowledge and self-expression.

Chapter 3 will have a detailed discussion of needs based on Maslows hierarchy of needs.


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Wants are forms of human needs shaped by culture and individual personality. When wants are

backed up by buying power, they become demands.


After identifying its target customers, a company must decide how it will serve these customers, in

other words, how it differentiates and positions itself in the market. More details on positioning will

be given in Chapter 4.

Teachers guide

Draw students attention to the differences between needs and wants.

p.6

Teachers guide

Highlight the major differences between a marketing concept and a societal marketing concept.

p.7

Answers to Discussion questions

1 The Body Shop organises its own fair trade programme called Community Trade to promote

fair trade with its ingredient suppliers who are mainly from developing countries. By buyingingredients from these suppliers, the Body Shop helps them earn more income. Ultimately,

people working for these suppliers are also expected to have better pay. This would help

improve the living standards of people in developing countries.

2 The Body Shop Foundation improves the well-being of people in society by providing

funding for non-governmental organisations working in such areas as human rights and

environmental protection. These areas are essential for the well-being of people.

3 Yes. The Body Shops Against Animal Testing policy benefits society because it offers other

species a better chance to survive. One of the key factors in preserving our societys

well-being is maintaining an ecological balance between humans and non-human creatures.

The large number of animals used for testing may lead to the extinction of species and

eventually affect the ecological balance. What the Body Shop is doing is trying to reverse the

imbalance, and consequently this will benefit society.

4 The Body Shop finds the highest quality ingredients and transforms them into innovative

products. It then markets and prices its products fairly. Thus, customers can enjoy a wide

diversity of new, high-quality products. They can also afford to buy these products for a


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reasonable price. (As the Body Shops products are made of natural instead of artificial

ingredients, they are also expected to be safer for customers. This improves the well-being of

its customers.)

5 By practising a societal marketing concept, the Body Shop gains the trust and loyalty of its

customers. It can also gain goodwill from the general public. In the long run, this would lead

to increased sales and profits.

Try This Activity

A3 Teachers guide

Select a Hong Kong company and ask students to discuss:

1 Who are its major target customers?

2 What are the major needs of these customers?

3 How does the company satisfy its customers needs?

Check Your Progress

Q1 If a consumer wants to show off a luxury handbag to her peers, she wants to satisfy her ego

need (i.e., look good in front of others). Hence, a low-priced, unbranded handbag may not be

the right product to satisfy this consumer.

(Accept any other reasonable answers)

Q2 If a consumer is relatively poor and is rather price-conscious, she may simply prefer alow-priced or a medium-priced product (an unbranded handbag). Since a very high-quality

product is likely to be very expensive, it may not be the right product to satisfy this consumer.


Q3 The marketing concept mainly focuses on the well-being of the companys consumers. As for

the societal marketing concept, the company not only focuses on the well-being of its

consumers, but also the well-being of the public or the entire society.

p.8


Marketing research is the systematic and objective process of obtaining information that can aid in

making marketing decisions.

Teachers guide

Teachers can use a school as an example to help students understand the importance of marketing as

a business function.


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p. 9

Try This Activity

A4 Although a monopolist, by definition, is the only seller within a particular industry, it may

face competition in a broader sense. Because of the presence of competitors, monopolists

still need to practise the marketing concept in order to provide more satisfaction to their target

customers. For example, the MTR is the only supplier of mass transit railway services in

Hong Kong. There is no competition in the narrowly defined market ofmass transit railway

services. However, the MTR still needs to compete for customers with public transportation

like buses, minbuses and taxis, etc. Hence, it still needs to practise the marketing concept to

outperform its broadly defined competitors.

Check Your Progress

Q4 The following are ways for the casual wear retailer to find out what its customers need:

Conducting marketing research Seeking information from frontline employees Observing customers buying behaviour at its retail shops

Q5 Building a long-term relationship with customers allows a company to retain customers who

may refer other customers to the company. By establishing a long-term relationship,

customers will likely buy more from the company. The company can generate more sales and

reap more profits.

Teachers guide

Recall the importance of marketing management mentioned in Chapter 7 ofNSS BAFS: Business

Environment and Introduction to Management.

p.10


In recent years, the importance of non-profit marketing has been growing both in an economic and a

political sense. Hospitals, schools, universities and charities all have to compete in society. They

need to obtain, protect and justify their funding and even their existence. This means that non-profit

making organisations need to think not only about efficiency and cost effectiveness, but also about

market orientation. They need to define what theircustomers need and want, and how they can

provide them with better products or services than their competitors.

Activity 1

Ask students to quote more examples of exchanging value in different organisations through the use

of marketing.


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p.11

Check Your Progress

Q6 Most people have a sense of providing community service. They will feel satisfied or happy if

they can help others (especially the poor or disadvantaged groups). By employing the

marketing concept, the Tung Wah Group of Hospitals can provide people with such

satisfaction. For example, the Tung Wah Group of Hospitals can organise various marketing

activities (i.e., fund raising activities such as flag selling, an annual fund raising variety show

jointly organised with TVB). By donating money and offering community services, people

will feel satisfied. At the same time, the Tung Wah Group of Hospitals can also receive the

needed contributions and free labour to continue its operations.

Q7 A politician can use the marketing concept to identify the needs of his target market (i.e.,

voters). For example, a Democratic Party politician finds that his voters are extremely

concerned about universal suffrage. He may then emphasise his determination to fight for

universal suffrage in all of his promotional activities (e.g., public speeches and debates among

candidates, etc.). He may also demonstrate to voters that he can better satisfy their needs than

other candidates (i.e., his competitors). A good image can then be fashioned. This helps the

politician win support from voters.

p.12Activity 2

(a) Choose a company and ask students to search the Internet for information about it.

(b) They should then come up with a SWOT analysis for the company.


Put simply, planning is concerned with the what and why of marketing activities. Implementing

is concerned with the who, where, when and how of marketing activities.

p.14


Characteristics of marketing objectives

In order to properly establish a marketing objective, management needs to pay attention to the

following:

Objectives should be compatible with one another. For example, it would sometimes be difficultfor a newly launched product to achieve high growth in both sales and short-term profits.

Objectives must be realistic and achievable. Objectives must be specified in a measurable and clear manner.


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p.15


A market leader can expand its total market by

finding new users creating new users encouraging more usage

Example: Intel has invested heavily in new PCs, networking and telecommunication applications to

expand the total demand for microprocessors.


A market leader can protect its current market share by:

fulfilling value promises to customers keeping prices consistent with value building relationships with customers continuous innovation

Example: PARKnSHOP used a low price strategy to defend its leading position against competitors.


Increasing market share

Example: Colgate has launched various toothpaste formulae. This satisfies customers who havedifferent needs. As a result, the companys market share has increased.


The main objective of market challengers is to gain market share and to eventually become the

market leader.

p.16


Advantages of the market follower strategy:

Learning from the market leaders experiences

Improving on the market leaders offerings

Example: The presence of various pocket tissue brands, i.e., Tango, Timpo, and Tinpo, that are

similar to the leading brand Tempo shows the use of this copycat strategy.


A market nicher usually earns high margins rather than high volume. The market nicher strategy is a


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good strategy for small firms with limited resources. The major risk faced by market nichers is that

the market niche may be penetrated by large firms once they notice that the market niches are

profitable and successful.

p.17

Check Your Progress

Q8 A SWOT analysis is an analysis of the main strengths and weaknesses of a business unit, and

the opportunities and threats of its operating environment.

Q9 A market challenger tries hard to challenge the leadership position of the current market leader,

whereas a market follower mainly tries to follow the strategies of the current market leader.

Q10 A marketing plan details all the activities and actions required for the proper implementation

of marketing strategies. The major purpose of formulating this plan is to provide a set of

detailed and workable guidelines for the company to achieve its stated marketing objectives.

p.18


Geographical organisation may allow a marketer to settle into a territory so that the marketer may

get to know his customers, and work with a minimum of travel time and cost.

p.20


Many companies have come to realise that todays marketing environment focuses less on products,

brands, and territories and more on customers and customer relationships. As a result, more and

more companies are shifting their brand management focus to customer management. Many

companies now organise their marketing operations around major customers. Market-management

organisation has grown in popularity in recent years.

Activity 3

Choose a company and ask students to design an organisational structure for its marketing

department using different methods to form departments.

p.21

Teachers guide

Remind students of the concept of leading as a management function mentioned in Chapter 5 of


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NSS BAFS: Business Environment and Introduction to Management.

Additional Information

Successful marketing implementation depends on how well the company blends the following

elements into a cohesive action programme that supports its marketing strategies.

People: The company must be staffed by people who have the needed skills, motivation and

personal characteristics.

Organisational structure: An organisational structurespecifies the responsibilities for each jobposition and the relationship between those positions. This structure plays an important role in

implementing the marketing strategy by coordinating the work done by different people.

Reward systems: This serves to motivate employees to work. Employees will be more

committed to their jobs.

Company culture: The companys marketing strategies must fit with its company culture (i.e.,

the system of values and beliefs shared by people in the organisation).

p.24

Check Your Progress

Q11 Geographical structure should be the most suitable choice. The reasons are as follows:

In a geographical structure, the positions of regional managers in charge of variousmarketing functions are set up (e.g., regional promotions managers, regional sales

managers). The company can appoint one of its regional marketing experts to be itsregional manager. With the specialised knowledge of the marketing expert, the company

will be able to tailor its marketing strategy to the needs of customers in different overseas

markets.

The regional department will focus on developing the companys marketing strategies indifferent overseas markets. The company can be more sensitive to changes in the

marketing environment of different regions. It can respond to changes in different

overseas markets quickly.

Q12 Factors include:

Soundness of the marketing plan: If the department store plans to achieve an unreasonablyhigh revenue and sets this as a target for the crazy sale, it will be very difficult to

implement.

Availability of the required resources: If the department store does not allocate enoughstaff to work at the crazy sale or if it does not have enough of a promotional budget, the

marketing manager will find it difficult to carry out the crazy sale successfully.

Leadership skills of the marketing manager: Obviously, if the marketing manager lacks the


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leadership skills to coordinate all the activities or motivate salespeople to work

enthusiastically, the crazy sale will not be successful.

Q13 Performance standards are standards that marketing managers use to evaluate and determine

whether a marketing activity is being carried out properly.

As for measuring the performance of a banks customer service officer, the performance

standards may be:

number of complaints received from customers;

number of new accounts opened; and

amount of deposits attracted.

Assessment

Short questions

1 The marketing concept emphasises the identification of the target markets needs and wants,

and a better delivery of the desired satisfaction than its competitors.

For example, in view ofcustomers increasing demand for more communication and

multimedia functions for their mobile phones, large mobile phone manufacturers (e.g., Nokia,Samsung) keep launching new phone models that are equipped with all of the advanced

functions. These manufacturers are applying the marketing concept in order to deliver more

satisfaction to their customers than their competitors.


2 Yes, social enterprises should make use of the marketing concept as they also need to better

understand the needs of theirtarget customers (those who need to be helped) and deliver

more satisfaction to these customers. Although social enterprises do not aim to make profits,

they can practise the marketing concept to better achieve their corporate objectives, namely

helping those who are in need of help.

3 PCCW Mobile is one of the market leaders providing mobile phone network services. To

maintain its leading position, it may adopt the following two strategies:

Protecting current market share: PCCW Mobile may offer value-added services to itsexisting subscribers. When the service contracts of the existing subscribers are going to

expire, PCCW Mobile may offer a tariff discount and gifts to persuade them to renew their

service contracts.


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Increasing market share: PCCW Mobile may carry out aggressive promotional activitiesto other service providers subscribers. It may also offer financial incentives (e.g., a tariff

discount) to attract these subscribers to switch to its services.

4 The major organisational structures that organise marketing activities include:

Functional organisation: all marketing activities are arranged by functions (e.g., marketingadministration, advertising and sales promotion). The head of the marketing department,

i.e., the marketing vice president or marketing director, is responsible for overall

coordination.

Geographical organisation: regional managers are assigned to look after their respectiveindividual regional markets. They are responsible for some or all of the functional

activities.

Product organisation: product managers are assigned to look after their respective groupsof products. This organisational structure usually involves an additional layer of

management, i.e., the product managers, to supplement the operations of functional

managers.

Market-management organisation: market managers are assigned to look after theirrespective customer groups. They have responsibility for particular markets or customer

groups.

5 The major steps involved in a bank controlling its marketing activities are:

1 Setting performance or target standards: This step involves setting a target amount ofdeposits the bank needs to attract, or a target amount of loans it needs to grant within a

specified period (e.g., one year).

2 Measure the actual marketing performance: This step involves measuring the actual

amount of deposits attracted and the actual amount of loans granted during the specified

period (e.g., one year).

3 Compare the actual performance against the target standard: This step involves

determining if the actual performance in attracting deposits and granting loans falls

within the acceptable range of variation (e.g., + 5% as predetermined by the bank).

4 Take corrective actions: If the variation identified in step 3 falls beyond the acceptable

range of variation, the marketing manager of the bank should find out the causes of the

deviation and take corrective action.

Essay Questions

6 The importance of marketing as a business function lies in:

Marketing helps the supermarket better understand what is needed and wanted by itsshoppers. This understanding helps the supermarket determine what should be stocked

and what prices it should charge for its products.


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Marketing also makes the supermarket more alert about its competitors moves (e.g., othersupermarkets, grocery stores, etc.). This helps the supermarket better adjust its strategies

to compete with its rivals.

Marketing reminds the supermarket of the importance of building long-term relationshipswith its shoppers. The supermarket needs to work closely with its merchandise suppliers,

employees and other relevant business partners (e.g., advertising agency, marketing

research agency, etc.). Consequently, marketing not only helps strengthen long-term

relationships between the supermarket and its customers, but also those between the

supermarket, its employees, suppliers and other business partners.

Marketing helps the supermarket better monitor the changing preference of its shoppersand respond to the changes in a timely manner.

Based on the above, marketing will consequently help the supermarket generate revenueand profits.

7 The steps required to plan the marketing activities of a fast food company include:

1 Reviewing current performance: The fast food company should first review its current

performance in terms of sales revenue, market share, return on investment, cash flow

and profit margin.

2 Conducting a SWOT analysis: The fast food company needs to assess its own strengths

and weaknesses. It also needs to assess the environment in which it operates. This is

aimed at identifying the opportunities and threats which the company needs to face.

3 Setting marketing objectives: The fast food company needs to determine its objectives in

terms of marketing performance (e.g., increase the companys market share by 10% over

the next year) and financial performance (e.g., increase net profits by 5% over the next

year).

4 Research and selecting target markets: The fast food company needs to undertake

marketing research in the Hong Kong fast food market to find out which customer

group(s) is (are) most promising and can be best served by the company.

5 Developing marketing strategies: The fast food company needs to formulate the

appropriate marketing strategies to attract the target customers it has chosen in step 4.

The exact strategies formulated depend on whether the company is a market leader, a

market challenger, a market follower or a market nicher.

6 Formulating a marketing plan: The fast food company needs to work out a detailed

marketing plan to spell out all the activities/actions required for the proper

implementation of the marketing strategies. The plan should include a marketing budget


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to list all the expected revenue, costs and profits for implementing the strategies. It

should also detail how the company is going to allocate the total marketing budget

among various tools in the marketing mix.

8 The steps required to control the marketing activities of a fast food company include:

1 Setting performance or target standards: This step may include setting a sales target for

the fast food chain store to achieve within a specified period (e.g., one year).

2 Measure the actual marketing performance: This step involves measuring the sales the

fast food chain store has generated during the specified period (e.g., one year).

3 Compare the actual performance against the target standard: This step involves

determining if the actual sales performance falls within the acceptable range of variation

(e.g., + 5% as predetermined by the fast food chain store).

4 Take corrective action: If the variation identified in step 3 falls beyond the acceptable

range of variation, the fast food chain store should find out the causes for the deviation

and take corrective action.

9 As the marketing manager of the broadband service provider, I need to consider the following

issues when using a promotional booth at a shopping mall over the coming weekend:

Soundness of the marketing plan: I need to consider carefully if the plan has been plannedproperly in the first place. I also need to consider if it is feasible to achieve the objectives

or activities written down in the plan. For example, if the plan sets an unrealistically high

sales target for the salespeople to achieve during the promotional period, it will be very

difficult to implement.

Availability of the required resources: I also need to consider if I have been givensufficient resources (manpower, financial resources, and technical support) to implement

this promotional activity. For example, if I do not have enough financial resources to

place advertisements in newspapers, target consumers may not be aware of the

promotional event. Consequently, the marketing plan cannot be implemented properly

(e.g., cannot meet the pre-set sales target).

Leadership skills of the marketing manager: As the marketing manager, if I do not havethe required skills to direct and motivate the salespersons to work enthusiastically, the

promotional plan cannot be implemented properly.

Case Analysis


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10 (a) No, he did not apply the marketing concept. This is because he did not thoroughly study

what was needed and wanted by Hong Kong homeowners. He just developed a product

he thought would work and then promoted it to customers.

(b) Given Hong Kongs living environment (a tiny flat for most people), many Hong Kong

homeowners may not need to buy such a complicated in-home security system. What

they need to buy may be simply a better (more secure) door lock. Moreover, the

HK$2,000 price seems to be too high. It seems that Peter did not do enough marketing

research to find out the acceptable price range for Hong Kong homeowners who are

considering purchasing this type of product.

(c) Several major mistakes were committed by Peter:

He did not conduct a proper SWOT analysis. In particular, he did not examinethoroughly if an opportunity really exists in Hong Kong for such a highly advanced

in-home security system.

He also did not research and select his target markets properly. In particular, he needsto better understand what is really needed or wanted by Hong Kong homeowners.

Even if he wants to target high-income homeowners in Hong Kong, he should first

estimate if this segment is large enough to be profitable.

In terms of marketing mix, it seems that he also set the wrong price (i.e., too high).The price appears somewhat high for the average Hong Kong homeowner.

11 (a) Stakeholders refer to those that would affect a companys operations as well as be

affected by its operations. Stakeholders of a tobacco company include:

the government or the regulator; anti-smoking groups; its owners and shareholders; its management and employees; its tobacco suppliers (tobacco farm); its customers (i.e., smokers buying its products); its distributors (i.e., convenience stores and newstands); and the general public or society (including those who do not smoke).

(b) The marketing mix is a set of tools a company uses to deliver satisfaction to its target

markets. It includes product, price, place and promotion.

In the case of a tobacco company, the marketing mix can be described as follows:

Product: Cigarettes Price: Prices of cigarettes, will be affected by the duties imposed by the government Place: Place to buy cigarettes, such as convenience stores, newstands, etc.


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Promotion: Activities carried out by the tobacco company to communicate the meritsof the cigarettes to target customers and persuade them to buy.

(c) As the Hong Kong government has banned public advertising of tobacco products, the

promotional activities of tobacco companies are adversely affected. The choices of

promotional tools are quite limited.

If the Hong Kong government imposes a heavy tobacco duty on tobacco products,

tobacco companies have to charge higher prices for their products.

(d) Two possible ways for a tobacco company to adopt societal marketing concepts are:

Set up a charitable fund (e.g., out of a portion of sales revenues) to help thosesuffering from lung disease or lung cancer.

Sponsor research projects to come up with a safer substitute (e.g., less or no nicotine)for cigarettes.


12 (a) The SWOT analysis for Donalds company is as follows:

Strengths: Donalds shop has a well-established reputation in the neighbourhood. Ithas a group of loyal customers. It also seems that Donald has good connections with

various dry seafood suppliers in the Mainland of China. This helps stabilise his

supply of dry seafood and ensure product quality.

Weaknesses: The shop seems to be relatively small in terms of its operational scaleand resources. It may face problems when other more resourceful competitors enter

the market. Donald also lacks the marketing knowledge to formulate his marketing

strategies systematically so as to deal with competition or the changing business

environment.

Opportunities: Not much has been mentioned about this. One possible opportunitymay be Hong Kong peoples consistent preference for dry seafood.

Threats: The major threat is the adverse impact of the financial tsunami on HongKong peoples purchasing power. Another threat is new competitors as the barriers

for entering the market may not be high. This definitely puts serious competitive

pressure on Donalds company.


(b) Three possible ways that Donald can use to improve his companys sales performance

include:

Source somewhat less expensive dry seafood and sell it to more price-conscious


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customers.

Rogers suggestion is not totally unreasonable. Donald may consider redecoratinghis old-fashioned shop to attract young customers. This can extend the range of his

customers and open up more opportunities for the growth of his business.

Donald may introduce volume discounts to his customers. Customers who buycertain amounts would receive discounts.


(c) Donald can learn about the changing tastes and preferences of his customers by

conducting marketing research. Donald may also casually chat with his customers to get

a general feeling about what they prefer. More formally, he may seek help from Roger to

develop a simple questionnaire (maybe just one page long) to collect opinions from

those who have just finished making purchases at his shop.


(d) If I were Roger, I would find out something that is unique about our shop. In this context,

I might consider the following:

As our shop has been operating for several decades in Sheung Wan, it should havealready developed a good relationship with nearby residents and customers. This is

one of the shops unique competitive advantages. I should try to record the

individual preferences of our major customers. Based on this, I should contact (e.g.,

via telephone) each of them individually once the products they like are available. Ina nutshell, I should try to further strengthen my relationship with current loyal

customers and personalise my offerings to them.

In order to further strengthen customer relationships, I may set up a bonus cardscheme for our customers. Customers who purchase from our shop can accumulate

bonus points. These points can then be used to offset part of the cost in subsequent

purchases. This scheme can help retain customers.

Given Donalds long-established relationship with suppliers in the Mainland ofChina, I would search for products which are unique (not available in other dry

seafood shops) and price them reasonably. This can help the shop develop a

competitive advantage.


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Marketing Chapter 1 3 Revised