Strategic Marketing Management Essay

Satisfactory Essays
Strategic Marketing Management

Sample Exam Questions

Question 1: a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept?

A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an organisation with markets, competitors and other environmental factors.

b. What are the advantages available to Google with their Google maps (as a Pioneer firm) in the Internet search engine market? What are the advantages available to any of the follower firms in the market?

c. Under what conditions to pioneer and follower strategies each have the greatest probability
…show more content…
Their research is focused on identifying new opportunities and applying new technology to satisfy customer needs as opposed to product improvement and cost cutting solutions like product oriented firms. Such companies design packaging for customer convenience and use it as a promotional tool rather than to merely protect the product or reduce costs involved and they emphasise their promotion on product benefits and ability to satisfy customer needs or solve problems (as opposed to product features, quality and price).

Advantages include…

b. Discuss the factors that mediate a marketing’s strategic role within an organisation

Lecture 1: Competitive factors affect a firms market orientation

Influence of different development stages across industries and global markets

Strategic Inertia

c. Outline the major levels of strategy in most large, multi-product organisations

Lecture 1:

1. Corporate Strategy: Decisions about the organisation’s scope and resource deployments across its divisions or businesses

2. Business-level strategy: How a business unit competes within its industry

3. Marketing strategy (Functional) Effective allocation and coordination of marketing resources and activities

d. List the five components of a well-developed strategy.

Lecture 1:

1. Scope (breadth of the strategic
Get Access