Explain the important benefits of Strategic Marketing Management. (Make 5 sentences only for every benefit) BENEFITS: a) A more thorough understanding of the market b) Helps in determining the strategic direction c) Has the potential for a large payoff?
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- 1. Companies that can retain _______________by satisfying them better than the competitors will be more ______________ in the long run: a. More customers, profitable b. Fewer customers, unprofitable c. More customer base, unprofitable d. More customers, stable 2. The marketing environment where firms compete is not: a. Ever changing b. Dynamic c. Fast changing d. Static 3. Marketing objectives can best be described as: a. How the company utilizes it resources b. The amount of profit the company wants to achieve over a given period c. The end results or outcomes that a company is looking to achieve within a given timeframe d. The tactics that the company utilizeMini-Case: Taking CleanSoaps to the next level……The bigger and stronger the competition is, the better an entrepreneur’s marketing strategyneeds to be. That being the case, Sharon John and Jill Scott may need your help with a marketingstrategy. Sharon and Jill have started a business which breaks into the $150 million laundrydetergent market, competing directly with the likes of Procter & Gamble, P&G, an Americanmultinational consumer goods company headquartered in downtown Cincinnati, Ohio, UnitedStated formed in 1837 by William Procter and James Gamble. It is a Global manufacturing,distribution and marketing company focusing on providing branded products with superior qualityand value. They started their business by making and selling only soaps & candles but then thecompany provided over 300 brands reaching consumers in about 140 countries. Since 2000 theirsales had grown more than 40% & profit had more than doubled. They have acquired manyproducts brands &…Mini-Case: Taking CleanSoaps to the next level…… The bigger and stronger the competition is, the better an entrepreneur’s marketing strategyneeds to be. That being the case, Sharon John and Jill Scott may need your help with a marketingstrategy. Sharon and Jill have started a business which breaks into the $150 million laundrydetergent market, competing directly with the likes of Procter & Gamble, P&G, an Americanmultinational consumer goods company headquartered in downtown Cincinnati, Ohio, UnitedStated formed in 1837 by William Procter and James Gamble. It is a Global manufacturing,distribution and marketing company focusing on providing branded products with superior qualityand value. They started their business by making and selling only soaps & candles but then thecompany provided over 300 brands reaching consumers in about 140 countries. Since 2000 theirsales had grown more than 40% & profit had more than doubled. They have acquired manyproducts brands &…
- Mini-Case: Taking CleanSoaps to the next level……The bigger and stronger the competition is, the better an entrepreneur’s marketing strategyneeds to be. That being the case, Sharon John and Jill Scott may need your help with a marketingstrategy. Sharon and Jill have started a business which breaks into the $150 million laundrydetergent market, competing directly with the likes of Procter & Gamble, P&G, an Americanmultinational consumer goods company headquartered in downtown Cincinnati, Ohio, UnitedStated formed in 1837 by William Procter and James Gamble. It is a Global manufacturing,distribution and marketing company focusing on providing branded products with superior qualityand value. They started their business by making and selling only soaps & candles but then thecompany provided over 300 brands reaching consumers in about 140 countries. Since 2000 theirsales had grown more than 40% & profit had more than doubled. They have acquired manyproducts brands &…3) If the Company have no marketing strategy, explain the following consequence that might affect to their goals, mission and objectives. a) Losing out to competitors b) Losing market share to existing and start-up competitors c) Gaining and retaining fewer customers d) Missing out on opportunities for better targeting e) Lack of planning and discourage to execute good ideas. f) Easily collapse g) No direction in attaining the company’s goals and objectives h) Lack of managementHow would the success of this approach be bene,measured- that is, what metrics would be more usefulthan the typical metrics used in developed countries?Be creative and develop a list of several possible metricsthat firms might use 10 measure their success in thesenevv developing markets. Hine: Keep closely in mindwhat firms hope 10 accomplish by increasing their presence and sales in those markets
- Task 27Marketing and non-profit organizationsWhich of the following statement (s) is correct? Select one or more options: A- Systembolaget often says in their commercials that they are not like other companies. Among other things, there is no sale on alcoholic beverages. Principles from the subject of marketing are therefore not applicable to Systembolaget's operations B- Public companies such as the Swedish Tax Agency and the Swedish Social Insurance Agency can use marketing principles to communicate with us citizens. C- Marketing is not relevant for charities such as SOS Children's Villages and Amnesty International as the exchange between the donors and the organization can not be compared to the exchange that takes place between a "regular" product-producing company and its customers1. Which of the following would a company probably have the least amount of influence over? a. A company would likely have equal influence over all of the above. b. A supplier raising prices c. The local government introducing new taxes d. A competitor lowering prices 2. Corporate-level strategy results in a mission statement that guides marketing strategy in which way? a. By tying higher level company goals to product-level marketing strategy b. By responding to customers’ needs and wants c. By clearly identifying a target market d. By avoiding marketing myopia and having a future vision 3. You are working in the marketing area of a large firm, and the CEO has just expressed her anger at the marketing research done by your area. She said, “This doesn’t help me at all. How much money and time have we wasted? And, how did this happen? Aren’t you supposed to be marketing professionals?” You and your team are trying to understand just what went wrong before going back to the CEO.…Understanding the common vocabulary used in strategic management is important to theapplication of its concepts.Required: a. There are four general steps in conducting an external environmental analysis startingwith scanning of the environment. Briefly, explain all four steps. b. Choose any organisation of your choice and employ the “SWOT Matrix” to demonstratethe current strategic position of the organization and clearly indicate the strategy optionsavailable to help match that organization’s internal environmental elements against itsexternal environmental elements. c. Compare and contrast “strategic blunder” and “strategic drift”?
- Understanding the common vocabulary used in strategic management is important to theapplication of its concepts.Required:a. There are four general steps in conducting an external environmental analysis startingwith scanning of the environment. Briefly, explain all four steps. b. Choose any organisation of your choice and employ the “SWOT Matrix” to demonstratethe current strategic position of the organization and clearly indicate the strategy optionsavailable to help match that organization’s internal environmental elements against itsexternal environmental elements. c. Compare on contrast the following: i. Vertical integration versus horizontal integrationii. Divestiture versus Diversificationiii. Market development versus Product DevelopmentChoose 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…Designing a successful marketing strategy plan is a complex process where bad decisions can lead to failure and huge losses. As a result, when creating a marketing strategy plan, discuss who will be the team's key players and decision-makers.