Developing a Superior Marketing Plan Case Study (3)

The goal of this exercise is to demonstrate your understanding the three phases of the strategic marketing process; planning, implementation, and evaluation. Read the description of the marketing action and then match it to the appropriate stage of the Strategic Marketing Process. Situation analysis Executing the marketing program Designing the marketing program Market-product focus and goal setting 4 Marketing program 5 6 Acting on deviations 2 3 Defining precise tasks, responsibilities, and deadlines 8 Obtaining resources Comparing results with plan to identify deviations 9 Match each of the options above to the items below. As the sales for digital cameras has increased, the sales for traditional film and film camera has declined Managers at Kodak select which products will be directed toward which customer for each of its strategic business units 3 Kodak managers select the marketing mix (4Ps) and related budget for each of its strategic business units Managers for the digital…

Scenario: Lee is the owner of Lee's [business type selected by your instructor], which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business. Instructions: Summarize a marketing strategy for Lee's addressing each part. You can view Parts 1-3 you completed in Unit 1 concerning the mission, situation analysis, and marketing objectives. This week you will complete Parts 4-6 below to submit your final assignment to the Unit 2 Dropbox. Checklist: Part 4: Marketing Strategy ⚫ Describe the target market strategy for Lee's business. Paint a very clear picture of who Lee will be targeting for her product. For example: Appealing to an entire market, concentrating on one particular segment, or multiple market segments. • Explain the four strategies for growth: market penetration, market development, product development, and diversification. How can Lee use market penetration to increase her sales? Explain. ⚫…

Market analysis offers managers insights into the interrelationships of firms, consumers, and products so that they may understand and predict consumers’ (possibly competitors) response to their actions. Critically explain four (4) reasons for correctly defining a market.  Critically evaluate four (4) critical dimensions of market analysis in the marketing planning process.  Apply real marketing examples from specialty coffee chains to both your answers.

2-11. How do the goals set for a marketing program in the planning phase relate to the evaluation phase of the strategic marketing process?

Choose the best ANSWER 1- A marketing team is working on specific marketing activity planning, who will do those activities and how, and what resources will be needed. Which part of the marketing plan does this best describe?   Developing the mission statement    Situation analysis    Marketing strategy    Marketing implementation  2-  Which of the following is the best example of a good strategic goal (according to professor and marketing plan directions)?   Increase sales per square foot by 5% in the next 6 months.    Get a 25% market share.    Increase profitability.    Get more people to try our new product. 3-  Which is most true about marketing?   Marketing should be an organization-wide focus on customers.    Marketing is most effectively thought of as an organizational department that just handles advertising and sales.    Marketing is only used to take advantage of people.    Marketing can only be used for tangible products.  4-  Which is the best example of using the…

How a company can improve the quality and quantity of their marketing intelligence? How does marketing intelligence help an organization to take their decisions? Discuss with proper logic and example.

. You have a marketing funnel of 10000 potential customers, 1000 leads, and 50 conversions, out of which only 10 are new customers. How will you plan your marketing campaigns and focus on which part of the marketing funnel?

Example of marketing plan of street foods. Executive summary: Present market situation: SWOT Analysis: Marketing Objectives Marketing Strategies: Marketing Programs in the marketing mix: Budget: Controls:

2. Pick the Marketing Management Philosophies from the list below. Select one: a. Product Orientation, Sales Orientation and Promotion Orientation b. Product Orientation, Sales Orientation, Market Orientation, Societal Orientation c. Product Orientation, Place Orientation, Price Orientation, Promotion Orientation d. Product Orientation, Sales Orientation, Market Orientation3.Which of the following best defines Customer Relationship Management (CRM). Select one: a. A collaboration of managers working together to reach a common goal of maximizing employee satisfaction. b. A company-wide business strategy designed to optimize profitability, revenue and customer satisfaction by focusing on highly defined and precise customer groups. c. Managing members of an organization coming together to design a marketing plan. d. None of these

Explain Korey's model that consist of three discrete major phases: (1) preliminary analysis phase, (2) strategic planning phase, (3) strategic management phase

The marketing mix is a key set of tools within the microenvironment, which helps an organization produce the response it wants from their target market. It’s made of up the 4Ps, which include product, price, place, and promotion. When these four factors are aligned properly, they play an important role because it encompasses everything an organization can do to deliver customer value and engage consumers. Simulated Business Scenario: Zihan is a baker who is planning to start his own business and open a bakery in his hometown in Connecticut. Her has spent a lot of time and effort perfecting the cookie recipe , which she has been making over the years from a family recipe. Zihan is concerned that she is spending too much time and effort on the actual cookie recipe (product) and not enough time on the remaining 3Ps. In order to ensure a successful launch of her new business, Zihan hired you to help with the bakery’s grand opening.She asked you to prepare a report detailing what the bakery…

Using concepts/terms from the book, Management by Bateman, Snell, and Konopaske, 7th edition. Situation: Consider the major decision of changing from a General Business major to a Marketing Major   Discuss the following questions: What was the decision you had to make? How did you go about creating alternative solutions (possible outcomes)? What was the process you used and was it similar to the formal planning steps noted in the chapter? Did the outcome meet expectations? (as planned, better, worse, mixed) Would you change the process you if you had to do it again, regardless of the current outcome?

What is DAGMAR? Explain how marketers might use DAGMAR in establishing objectives. What are some of the problems associated with the use of DAGMAR?

The goal-setting step in the planning phase of thestrategic marketing process sets quantified objectives for use in the evaluation phase. What does a manager do if measured results fail to meet objectives? Exceed objectives?

Which factors represent internal considerations for preparing a Marketing Plan? Select one: a. Strengths, Resources, Threats, and Weaknesses b. Strengths, Weaknesses, Opportunities and Treats c. Strengths, Substitutes, Threats, and Opportunities d. Strengths, Substitutes, Threats, and Weaknesses

1. Explain the importance of needs, wants, and demands and how these frame marketing: Activities 2. The Boston Consulting Group (BCG) Matrix is a useful strategic tool. Another classic portfolio planning method useful to marketers is the GE/McKinsey Matrix. How is the GE/McKinsey Matrix similar to and different from the BCG Matrix? 3. A marketing information system (MIS) is essence intervenes between the marketing environment and the marketing manager. Discuss the four basic subsystem of an MIS and indicate how each subsystem's information could benefit a marketing manager. 4. What is subculture? Describe at least two subcultures to which you belong and identify any reference groups that might influence your consumption behavior. 5. Business markets have numerous characteristics that contrast sharply with consumer markets. Discuss six of those characteristics and what implications each one carries of marketers of business goods

How are for-profit business firms and nonprofit firms different with regard to the marketing concept?

Need answer for all 3 questions.

Briefly explain the term strategic analysis & its importance to the marketing management success with examples

PLEASE answer CLO #2 CLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies.  CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories. CLO #3 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions.

1. Analysis of Current Marketing Strategies  Choose a hospitality business (e.g., hotel, restaurant, travel agency) andconduct an in-depth analysis of its current marketing strategies. Evaluate the effectiveness of their current marketing efforts in reachingtheir target audience and driving customer engagement. Identify any strengths, weaknesses, opportunities, or threats in theircurrent marketing approach.2. Development of Marketing Plan  Based on your analysis, develop a comprehensive marketing plan for thechosen hospitality business. Clearly outline the goals, target audience, positioning, and marketingtactics to be employed. Include a detailed timeline and budget for implementing the marketingplan.  Justify your choices by explaining how they align with the business'sobjectives and address the identified strengths, weaknesses,opportunities, or threats.3. Creativity and Innovation in Marketing Approach  Demonstrate creativity and innovation in your proposed…

true or false ? subject :Sales Management 5. Vertical audit does not single out selected elements of the marketing operation. 6.Gatekeepers are people who control information, either in the form of knowledge or access into, out of, or between members of the buying group.