IGCSE Enterprise: Specimen Questions with Answers 39 - 40 of 49

Passage

Case Study -2

Pottery Barn & Sherwin-Williams

Co-Branding Campaign: Color Your Room
  • One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience. that՚s exactly what home furnishing store Pottery Barn and paint company Sherwin-Williams did when they partnered together back in 2013.
  • Together, the two brands created an exclusive product line of paints, and then added a new section of Pottery Barn՚s website that helped customers easily select paint colors to complement their furniture choices.
  • Customers could coordinate paint colors with picture-perfect Pottery Barn furniture for a mutually beneficial partnership – and style assistance for both brands customers to boot. “Paint Landing,” Pottery Barn՚s landing page for the partnership, contains helpful blog posts and how-to ideas for do-it-yourself painting and decorating.

Question 39 (2 of 12 Based on Passage)

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State any two purpose of marketing.

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Explanation

Marketing as a managerial activity involves analyzing the market opportunities, planning the marketing activities, implementing marketing plans, and setting control mechanisms in such a way that or organizational objectives are accomplished at minimum cost. In other words, marketing is-

  • Understanding consumer needs
  • Environmental scanning and market opportunity analysis.
  • Development of a competitive marketing plan and strategy such that an organization can satisfy not only the consumers needs but also achieve its own objective.
  • Implementation of the marketing plan and development of tactical plans to overcome problems at the market place.
  • Development of control mechanisms.

Question 40 (3 of 12 Based on Passage)

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One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience.

What is Co-branding?

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Explanation

Co-branding is a form of managing customers contact to build brand image is co-branding. Today brands are coming together to create a powerful image in the customer՚s mind. Co-branding leads to logistical and financial benefits to partner organizations. But often the debate is whether co-branding leads to losing a brand՚s unique identity. To avoid this situation, it is important that brands coming together must have-

  • Shared vision and rules
  • Similar passion to serve customers
  • Similar approach to product and service quality.