marketing team to find out the followings: 1) List the various segmentation variables the company can use to segment their market. 2) Briefly explain why you have selected each one (Target market). 3) Which segments could the company aim for (Positioning the customer)?
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- Coral Creations has strategic plans that call for rapid growth, a limited number of units for each design to enhance exclusivity, designs for the perfect fit, on-time delivery to customers, retention of highly trained employees with innovative skills, and excellent inventory control. Suggest one performance measure for each dimension of the balanced scorecard for Coral Creations. Take one of your measures and discuss the linkage it has to the strategies listed from Coral’s plan. Solution A. Financial: Internal operations: Customer service: Learning and growth: B. Rapid growth: Enhanced exclusivity: Designs: On-time delivery: Retention of employees: Inventory control:A fairly recent technology-related tool that many companies use to solicit feedback from customers about the company’s existing or upcoming products is a. market segmenting. b. customer relationship management. c. consumer buying behavior. d. sales forecasts. e. social media.Tesla, the world’s largest carmaker (as determined by market capitalization), understands that their primary target market responds well to brands that focus on social responsibility. Tesla’s senior management has been meeting to devise a global marketing campaign centered on social responsibility. To this end, Tesla decided to hire a consultancy to develop a 9-month plan ending December 31, 2022. Management has asked for a presentation for an initial list of items that would be considered valid elements of a social responsibility marketing plan that would accommodate each of the markets that Tesla competes in. Questions: What type of research would the consultancy conduct to understand each of the wide variety of cultures that the brand competes in? Armed with this researched information, how might the consultancy modify its social responsibility campaigns to accommodate some of the major markets?
- The foundation of every marketing strategy is the identification of a target market and the development of a marketing mix. The marketing mix is commonly referred to as the 4 P's of marketing: Product Price Place (also called distribution) Promotion Think about a fairly significant purchase you made recently and analyze how this product or service was marketed to you by the company. Do you think you are part of the target market that the company identified for this product? How did the company use the 4 P's of marketing to try to convince you to buy this product?1. Strategic management is said to be ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Explain with examples the concepts of company vision, mission and objectives. 2. As the manager of Lulu hypermarket in Oman, you are required to analyze the competitive environment and strategic dilemma created by the recent COVID-19 pandemic in terms of the changing market trends and technological advancement and describe how to attain strategic fit. 3. As the chief strategist of a manufacturing company in Oman, evaluate the cost leadership business strategy against the differentiation strategy in terms of how well it helps the company gain a competitive advantage. 4. Explain the concept and significance of strategy evaluation and control in light of the series of business-functional activities involved in strategy implementation. Utilize a straightforward flowchart to illustrate the process of strategy evaluation and…Prepare a balanced scorecard for Delhi Dairies, without numbers, which will help them to achieve their strategy and to maximize long-term shareholder value. (Give at least two performance measures for each category.)
- Consider the following quality improvement strategy as expressed by a series of if-then statements: If real-time feedback information capabilities improve, then post-sales service time will improve. If post-sales service time improves, then post-sales service quality will increase. If post-sales service quality increases, then customer satisfaction will increase. If customer satisfaction increases, then market share will increase. If market share increases, then sales will increase. If sales increase, then profits will increase. Required: 1. Prepare a strategy map that shows the cause-and-effect relationships of the quality improvement strategy (see Exhibit 13.10 for an illustrative example). 2. Explain how the quality improvement strategy can be tested.Carlton's Pizzas is a chain of pizza stores. Pizzas are made fresh in-store, and then delivered to customers by a fleet of drivers. The senior management team has identified the strategic priorities for the business as on-time delivery and product quality. i) If the company is successful in achieving challenging targets for these performance measures, will it also necessarily achieve high profitability? And For each of the strategic priorities, suggest three performance measures.Duncan’s Pizzas is a chain of pizza stores. Pizzas are made fresh in-store, and then delivered tocustomers by a fleet of drivers. The senior management team has identified the strategic priorities forthe business as on-time delivery and product quality. Question: If the company is successful in achieving challenging targets for these performance measures, willit also necessarily achieve high profitability? Explain your answer.