Stokem_3-1 Milestone One
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Innovation Approach
Joshua R. Stokem
MBA-580: Innovation and Strategy for High-Performance Organizations
Professor Jermaine Dykes
June 26, 2022
Risks and Benefits
Option A designing a completely new product line, based on new technology
Option B
adding new technology features first into one model and incrementally into the broader product line
Risks and Benefits: Option A
•
Customer interest
•
Inflation driving production cost
Risks
•
Expanding current customer base
•
New technology in the industry
Benefits
Risks and Benefits: Option B
Risks
•
Competitor product roll out
•
Up-to-date on technology
Benefits
•
Cost efficiency
•
Innovation flexibility
Competitor
s: BMW
Sensors and computers
Functionality emphasis
Current connected services
5-10 year plan
Market expansion
Figure 1. BMW current logo. Adapted from ”BMW Logo (Present)" by 2020, CarLogos. Retrieved from https://www.carlogos.org/car-brands/BMW-
logo.html Copyright 2020 by CarLogos Photos
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Related Questions
Business Name : ADIDAS X PARLEY.
1. Value proposition statement? 2. Propose model & framework ?
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Q.21 Why do we need to approach customers problems through a 6 Digital Transformation Theme approach? 1. It helps to offer People/Process/Technology challenges from customers as bundled services to drive business transformation It is a marketing strategy to differentiate from others Digital technologies can be easily bundled under 6 Themes None of the above Q.22 Application modernization' falls under which Digital Transformation theme? 1. Intelligent Core Digital Insights Digital Customer None of the above Q.23 Cloud migration strategy' falls under which Digital Transformation theme? Intelligent Core 2 Strategy \& Design Digital Customer None of the above Q.24 "Digital Customer" theme does not include the following sub-area... Design Engage 3 Empower Enable None of the above.
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QUESTION 1
There some characteristics that distinguishes service marketing from other marketing, with your understanding of service marketing state and explain five characteristics of service marketing giving some examples.
QUESTION 2
What is service marketing? There are a number of reasons why services marketing are more important today than it was in the past. Discuss.
QUESTION 3
The role of the 3ps in service marketing is especially important. State and explain what the 3Ps are and its relevance in service marketing.
Briefly explain what design can achieve in service marketing.
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An aluminum can manufacturer has discovered a way to improve its manufacturing process. As a result, its manufacturing cost has been reduced from $0.89 to $0.79 cents. How can the manufacturer best exploit this cost advantage? Information to be given if asked Market • The client is the leader in its market with a 40% share and supplies directly to major beverage manufacturers. • The number two player in the market has about 30% of the market and many small competitors share the rest. Substitutes • Aluminum cans have a lower priced substitute, steel cans, which have inferior printing and stamping characteristics. • Steel cans are used by customers who do not want to pay the premium for aluminum cans.
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Q. 4
Identify one new business concept that you believe could be successful, write a one-page concept statement, and then write at least five questions to include in a buying intentions survey.
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None
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Question 11
Our marketing department have identified a new use for our product which with a slight repositioning could result in a new market in which we can generate sales. Under a SWOT analysis what would this be best described as?
A Strength
B Opportunity
C Threat
D Weakness
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DESCRIPTION
TO
PC
ct Life
Sales and
profits (5)
Sales
Profits
Time
Product
Development
Introduction
Growth Maturity
Decline
Lossess
investment (5)
The product life cycle (PLC) is the different stages through which every
product goes through. The product life cycle stages include: Introduction,
Growth, Maturity and Decline.
As a Marketing Manager in one of the car companies, you are required to
analyze and decide what stage are electric cars at in the PLC in today's
market? Why do you think so?
(Mention the stage elecctric cars are in at the moment and explain why in
terms of sales, profits, and all the other factors you learned about in
Chapter 9).
**Provide as much details as you can to avoid losing points
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A small company's executives decided to target one segment of the market with strong growth ability. What type of competitive advantage is this?
Question 6 options:
a)
Product/services differentiation competitive advantage
b)
Cost competitive advantage
c)
Niche competitive advantage
d)
Situational competitive advantage
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QUESTION 3
Discuss three main benefits to create a Business Plan.
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Describe the business’ industry? Is it growth industry?
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Question no 1:
Why do you think the IT Strategy is linked with Business Strategy?
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QUESTION 2
"Discovering market potential is a key reason for conducting marketing research.follwing the completion of the study,the organization must carefully assess its potential and choose which markets to penetrate.once on the market,it must provide sales projections based on predicted demand "Discuss the statement
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Study: “The Woolworths strategy in implementing the marketing concept”
Explain the four principles of the marketing concept. Use quotes from the case study to show the strategies that Woolworths employed when implementing the marketing concept.
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8.
Which of the following provides direction to the company by answering the question about what business a company is in?
Question 8 options:
Code of ethics
Environmental analysis
Competitive analysis
Mission statement
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Question 7 Which of the following statements is true of an effective business mission statement? O 1. It is stated after the details of a marketing plan are developed. O 2. It should define a business in terms of goods and services rather than in terms of the benefits customers seek 3. It is based on an analysis of anticipated environmental conditions. O 4. It is kept confidential from customers and stakeholders.
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Task 5 The product cycleYou tell about the product life cycle for an entrepreneur in the process of developing a new product. Which of the following statement (s) do you say to the entrepreneur (which statement (s) are correct (a) statements):
Select one or more options:
A) The product life cycle is used as a segmentation variable to segment a market
B) The stages of the product life cycle can be a guide for companies in what an appropriate marketing strategy can be
C) The product life cycle looks exactly the same for all offers
D) You can see the product life cycle at different levels, such as product class or brand
E) The time it takes for different offers to go through the stages of the product life cycle varies
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CB Assignment 5 (Consumer Decision Making)
After watching the Consumer Decision Making Presentation, complete the
following spread sheet and indicate which brand is most likely to be selected
for each of the approaches below.
Smart Phones for Smart Phone Attitudes
Product
Attributes
Price
Good Reception
Screen Size
Camera Quality
Weight
Conjunctive:
Product
Attributes
For Conjunctive use a cutoff rating of 4.
For Disjunctive use a cutoff rating of 10.
Price
Good Reception
Screen Size
Camera Quality
Weight
Brand Selected=
Disjunctive:
Product
Attributes
Price
Good Reception
Screen Size
Importance
Rating
35
25
20
10
10
Camera Quality
Weight
Brand Selected=
A
6
8
8
4
6
35
25
20
10
10
Brand Scores
B
с
8
7
6
5
A
9
2
7
Minimum Rating =4 (on all attributes)
Importance
Ra
10
6
3
Brand Scores
Rating of 10 on ANY attribute
Importance
Rating
35
25
20
10
10
Brand Scores
C
A B
D
5
6
8
2
4
D
D
Lexicographic: Select Best Performer for Most Important Attribute
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Situational Analysis
A detailed 3Cs analysis SWOT & PESTEL and review of marketing mix is performed.
Indicates clearly the internal and external factors.
15 years + presence in RSA
First and largest IPP in RSA with more than 1,6 GW in operation
300+ professionals
Developed, built and operate the first H2 plant in Africa at Mogalakwena mine
Founding member of the Hydrogen valley initiative with Anglo American and the Department of Science and Technology.
Operational and Safety excellence across all sites.
Growth Market for ENGIE
ENGIE exists out of 4 Global Business Units (GBUs) –They are units that drive operations and results and own a P&L.
A key differentiator we have within ENGIE is GEMS, whose mission is to optimize the Group’s assets (ie. Connect upstream assets to our customers and Accelerate the development of Renewable) and Ensure a secure and sustainable energy future for B2B clients in line with a low carbon strategy
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QUESTION 6
List and define the major types of buying decision behavior and the stages in the buyer decision process, explain with Examples
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Question 2
Discovering market potentials is a key reason for conducting marketing research.following the completion of the study,the organization must carefully assess its potential and choose which markets to penetrate .once on the market,it must provide sales projections based on predicted demand"Discuss the statement.
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As a student, you need to demonstrate your understanding in conducting the three stages of strategy including strategy formulation, implementation, and evaluation. Therefore, you need to select an established organization and conduct the following:
Develop an Introduction that describes a summary of the organization including where the organization is located and what type of services/ product they provide
Q1: Question 1: Evaluate the Mission Statement of the organization against the 9-mission statement component and suggest the missing component with valid justification. (A1, B1, C1, C2)
Q2: Question 2: Conduct a SWOT analysis with the support of the critical analysis of the Literature Review (B1, D4)
Q3: Question 3: Evaluate the status of the organization and conduct a matching stage by considering the matching strategy (C1, C2)
Important Guidelines:
The assignment should be at least 1200 words; the assignment should be developed based on critical analysis…
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9- Khalid is preparing feasibility study for his new business idea. Which of the following should be included in the marketing feasibility?
a.
details of competitors’ strengths and weakness
b.
details of machines to purchase
c.
Details of suppliers
d.
None of the Options
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Question 1
With reference to the Popchips case study, explain the concept of ‘focussed differentiation strategy’ and how it has been effectively applied.
The Case
Popchips was founded in 2007 by Keith Belling, a serial entrepreneur, and Pat Turpin, a former Costco snack executive. Their idea was simple: Take advantage of high-income purchasers’ growing desire for tasty, low-fat snacks. Using an innovative cooking method, they found a way to halve the fat content in potato chips while preserving flavour. Popchips has a differentiated product. But its real point of differentiation is its brand and distribution strategy. Most potato chips have mass distribution and a broad buyer base. Belling and Turpin decided from the outset to narrow their distribution and narrow their targeted buyers. They hoped that focusing on a market niche would allow their product to stand out from the bags of Lays and cans of Pringles in aisles all over America. Popchips target upper-income, health-conscious…
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Which of the following is NOT among steps in strategic planning?
Question 11 options:
A)
Define the mission
B)
Insurance estimate
C)
Design the business portfolio
D)
Setting the objectives
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Questions:1. How do you see the product “Jeep”?2. What is the target group of customers for Jeep?3. How Jeep positions itself into the market?4. What should be the marketing strategy of Jeep for the millennials?
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Write sale dialogue with this sales call objective
In the next three months, the companies will set a goal of raising their sales promotion by 15%. Creating discount deals, instituting a point system, and other sales promotion activities are examples. Customers will be influenced to purchase products since they would be certain of receiving the same product at a lesser price.
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Q.2)
Explain the concept of New Product development process and how does a marketer use it for a successful product launch? Explain it with the help of how you can launch a product or service into the market following the steps
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Question 3
Developing a marketing plan at the Strategic Business Unit level requires internal and external
analysis. These two have been described as critical to the success or failure of the plan.
While the internal analysis may consist of examining the organization's own dynamics as
well as the industry, its external analysis consists of macro-environmental factors. A
business conducts these analyses before formulating its goals and developing its strategy.
However, not all businesses understand these dynamics nor know how to effectively
conduct their external environmental analysis. As a practitioner with good marketing
knowledge, discuss the external marketing environment and its strategic role in marketing
strategy planning decisions illustrating with clear examples from the Ghanaian market.
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Product: Apple HomeLife
Product Description: Apple HomeLife is a clever home solution that combines and seamlessly decorates contemporary purchasers' linked lifestyles. It leverages Apple's knowledge in an era of user enjoyment and ecosystem integration to offer a unified and intuitive management middle for diverse elements of home automation. The device will allow customers to manipulate their clever devices effortlessly, optimize strength efficiency, and enhance domestic security, all from the ease of their Apple devices.
Conduct a segment analysis and identify the primary target market that your company with create the marketing strategies for.
1) Look for all possible customer segments and exclude those that are not identifiable as a potential customer.
Describe and or explain all the applicable segment variables with a brief analysis including why the segment is relevant.
Demographics (age, gender, income, family lifecycle, education, religion, geographic, etc, etc, etc)…
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Part 4 Independent Challenge 2
1. Get ready
Help Sage Realty Services find a solution to a problem. Complete the following
steps.
Figure 4-17 (duplicated below) shows the ideas for how to try the solution of improving customer
service and increasing referrals for six months.
FIGURE 4-17.
Survey customers
"
Send links or DVDs of virtual tours
Do in three stages: March 1-15,
May 1-15, and September 1-15
Sponsor event for home buyer's
Update contact management
software
Organize follow-up social events
recent customers
2. Now you try it
In the following space, identify the objectives and tasks for putting the solution into practice, based
on the details shown in Figure 4-17.
In the following table, organize the tasks into an action plan based on the following table:
Sage Realty needs to improve
customer service
Better customer service will
increase referrals (and sales)
Overall budget is $800
Survey customers ($75 for
online survey, plus $125 for
phone calls) Barbara Norman
can do online…
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2
QUESTION 2
Type in five forces and identify each as Strong, Weak or Neutral. Support your analysis with statements and/or observations.
Force
Strong/Weak/Neutral
Supporting Fact / Details
Threat of substitutes
Threat of new entrants
Threat of existing rivals
Bargaining power of suppliers
Bargaining power of customers
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Developing New Products (Chapter 12)
20. Consider the Apple iPhone 12 for the following question.
Where is this product in terms of the product life cycle?
(Highlight one answer)
a. Introduction
b. Growth
c. Maturity
d. Decline
Explain your answer using course concepts:
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