Many companies emphasize the concept of calue in their operation as a core element of marketing. Marketing activities not only involve with creating offerings that have value, but also communicating, delivering and exchanging those offerings. Applying the concept of value, marketers are interested in building long term customer relationships with satisfied customer and consequently, loyal customers. As a marketer, how would you operate on the approach of value chain concept as theorized by Michael Porter?
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Many companies emphasize the concept of calue in their operation as a core element of marketing. Marketing activities not only involve with creating offerings that have value, but also communicating, delivering and exchanging those offerings. Applying the concept of value, marketers are interested in building long term customer relationships with satisfied customer and consequently, loyal customers. As a marketer, how would you operate on the approach of value chain concept as theorized by Michael Porter?
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- Identify a firm that you believe does a good job of investing in the value chain to gain higher sales than its competitors. Why did you select this firm? Which elements of the Value Chain concept does the company do especially well? Why?Discuss Value Chain Management by addressing the following: What are the total costs associated with producing and shipping a pair of slim-fit denim jeans to the end customer and how much is their profit? How does their “radical transparency” strategy help them compete?Harvard’s Michael Porter has proposed the value chain as a tool for identifying ways to create more customer value. According to this model, every firm is a synthesis of activities performed to design, produce, market, deliver, and support its product. Nine strategically relevant activities five primary and four support activities create value and cost in a specific business. The primary activities are (1) inbound logistics, or bringing materials into the business; (2) operations, or converting materials into final products; (3) outbound logistics, or shipping out final products; (4) marketing, which includes sales; and (5) service. Specialized departments handle the support activities (1) procurement, (2) technology development, (3) human resource management, and (4) firm infrastructure. (Infrastructure covers the costs of general management, planning, finance, accounting, legal, and government affairs.). Considering the above-mentioned value chain process explain the primary…
- In practice, CRM is cited as having the following important advantage:‘thanks to CRM, we are able to institutionalize the relationship with customers’. What do you suppose is meant by this? Explain your answer by providing an example. Explain BrieflyIdentify and describe an American firm of your choice that is challenged in its production operations to support its basic business needs to manufacture a high-quality product, safely, within budget, and on schedule. Its operations management is characterized by a culture that supports the vision and mission statements. This business problem (its production operations) includes a mismanaged supply chain, massive overtime wage payouts to make up for lost time injuries, increasing turnover and no shows at the work site, and where there is a spike in customer complaints resulting in business loss and narrowing profit margins. As a decision maker, what action plan would you recommend to the senior leadership of the organization to take it from its current conditions to bring it closer to its ideal operating conditions (to become a company known for zero-defects, excellence in supply chain management, customer satisfaction, safe and reliable high-quality products, value to the customer,…What is the difference between a system-solution approach in marketing, as opposed to a hardware-solution approach?
- Doing a value chain analysis is a fantastic way of following a process to review all of the ways you can generate value for your customers. Based on the following information, students are required to create/draw (infographic) value chain to the identified organization below. PIZZA HUTLet’s look at the value chain of Pizza Hut:PRIMARY ACTIVITIESInbound logistics: This includes all of the sourcing activities to procure and standardize all of the produce, ingredients and materials to bake pizza’s fast, consistently, and delicious – in house. They capitalize on economies of scale, and use massive global purchase orders to source the best prices on raw products for their restaurants.Operations: By targeting areas where there is an affinity for Italian food, Pizza Hut operates in a huge number of countries globally with a licensing model where stores are managed by a local franchise owner.Outbound logistics: There are two models that Pizza Hut capitalizes on, in store dining and their home…Make a Business Model Canvas out of your mind. You should choose an idea capable of creating it in the future. You should not quote an person idea or business model from the Internet. Step 1: Customer Segments: Step 2: Value Propositions: Step 3: Channels: Step 4: Customer Relationships: Step 5: Revenue Streams: Step 6: Key Resources: Step 7: Key Activities: Step 8: Key Partnerships: Step 9: Cost Structure:How did covid-19 affect strategic management in supply chain management? Argue in favor of the above Convince the reader why your research is worth doing. note: not an essay
- From your knowledge of MarTech stack, suggest five key technologies you would expect Deliveroo to utilise in its marketing implementation; explain why these are beneficial to the organisationHow does your understanding of, as well as the physical mapping of the Apple supply chain,help to gain the knowledge necessary to maximize customer value and gain a competitive advantage within the industry?establishing a successful customer relationship and stay competitive in the market, Amazon should take care of the following. Elaborate both areas in detail. The elements needed in the implementation of the successful CRM strategies.