5 What is the main result of each of the three phases of the strategic marketing process? (a) planning, (b) implementation, and (c) evaluation.
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5 What is the main result of each of the three phases of the strategic marketing process? (a) planning, (b) implementation, and (c) evaluation.
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- 2 Using Chapter 2 and Appendix A as guides, focus your marketing plan by (a) writing your mission statement in 25 words or less, (b) listing three non- financial goals and three financial goals, (c) writ- ing your competitive advantage in 35 words or less, and (d) creating a SWOT analysis table.Using a marketing planning framework of your choice, prepare a medium term strategic marketing plan and present it to the board of directors by including the following areas• Strategic intent (Vision/ Mission and Values)• Marketing objectives• Market segmentation - STP• Marketing Strategy - Ansoff’s Matrix, Generic strategies, branding strategy, competitive advantage• Tactics - 7 Ps, Organizational structure • Actions & Control - Balance score card, Budgets, Schedules4) The first step in strategic planning is to ________. A) set objectives and goals B) develop the business portfolio C) define the company mission D) plan marketing strategies 5) Which of the following is NOT a step in the strategic planning process?A) defining the company missionB) setting company objectives and goalsC) designing the business portfolioD) identifying the company's culture 6) Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be? A) objectives and goalsB) mission statementC) business portfolio D) marketing and functional strategies
- How can you apply the concepts of strategic planning to your own life such as getting for a job or a better job? Which, if any, of the strategic planning would not be applicable for you, and why?What is the difference between the effectiveness of strategic planning and the effectiveness of strategic planning practices? Provide examples to support the points.Crafting a strategy involves A) blending deliberate/planned initiatives with emergent/unplanned reactive responses to changing circumstances, while abandoning planned strategy elements that have failed in the marketplace. B) developing a five-year strategic plan and then fine-tuning it during the remainder of the plan period. C) trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage. D) doing everything possible (in the way of price, quality, service, warranties, advertising, and so on) to make sure the company's product/service is very clearly differentiated from the product/service offerings of rivals. E) All of these accurately characterize the managerial process of crafting a company's strategy.
- Discuss the differences between an internal analysis and an external analysis with respect to strategic planning. What do organizations typically analyze as part of an internal analysis, and why? What do organizations typically analyze as part of an external analysis, and why? How do the results of each of these analyses inform an organization’s strategic plan?c. Explain the strategic factors that are critical to the Coca-Cola's success. These factors should be ranked in order of importance, and a brief explanation should be provided for each of them.1. Identify the major components of strategic planning, and explain how they are interrelated. 2. Explain how an organization can create a competitive advantage at the corporate strategy level and at the business-unit strategy level. 3. Whatare some issues to consider in analyzing a companyâs resources and opportunities? How do these issues affect marketing objectives and marketing strategy? 4. What is SWOT analysis and why is it important? 5. How can an organization make its competitive advantages sustainable over time? How difficult is it to create sustainable competitive advantages?
- Respond to the following in a minimum of 175 words: Discuss the differences between an internal analysis and an external analysis with respect to strategic planning. What do organizations typically analyze as part of an internal analysis? Why? What do organizations typically analyze as part of an external analysis? Why? How do the results of each of these analyses inform an organization’s strategic plan?I am writing a marketing plan and the teacher wants me to write an executive summary, could you help with that. Here is what I wrote, what do you think? It is supposed to be one page in length. Executive Summary This marketing plan is presented for Plato’s Closet, a thrift store located in Edison, NJ, which focuses on selling trendy used clothes and accessories from fashionable brands to young fashion conscious female consumers. Our marketing plan will show that we have the ability to be highly competitive and fill a unique niche and will also execute marketing steps to generate regular profits from sales at our store. Our demographic consists of mostly teenage and young adult women who are into fashionable trends. The owners have identified this demographic as a strong market who are passionate about obtaining trendy clothes at a fraction of the price that would be sold as new in retail mall stores. The store has a unique selling proposition as opposed to other general thrift stores…2. Briefly explain the different types of planning. Which type do you think is the most crucial and why? Identify the strategic planning process.