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- Please only answer CLO #5 CLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies. CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories. CLO #3 - Evaluate the quality of proposed solutions to marketing management problems against appropriate criteria, including organizational constraints. CLO #4 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions. CLO #5 - Identify the interrelationships among concepts, principles, and theories used in different areas of marketing management between nations and their economic and social-culture systems. CLO #6 - Evaluate the ethical implications and aspects of social responsibility of certain marketing campaigns and strategies.The management of Magic Vision would like to have an efficient supply chain for their high-end eyewear, but unfortunately, they are not satisfied with the performance of their marketing intermediaries in promoting the product. The company decided to sell its products only through its own efforts since its objective is to reach the target sales for the year. Do you think that the owner's decision is an effective strategy? If yes or no, justify your answer. Note: please don’t repeat answer, the 1st answer was not helpfulWhen reviewing the performance of an implemented marketing strategy which factors are likely to be considered?SalesGross marginNumber of consumersCoupon redemptionROIAll are correctNone are correct2. What company document is used to develop other important company documents?marketing planpositioning statementmission statementPositioning statementAll are correctAll are incorrect3. A document with four elements that together provide instructions/directions to guide markeing strategy such as; product development, promotion, place, price and target consumers.positioningsegmentationtargetingvalue propositionPositioning statementnone of these answers are correct4. When reviewing the performance of an implemented marketing strategy which factors are likely to be considered?SalesGross marginNumber of consumersCoupon redemptionROIAll are correctNone are correct
- What is false about the crossover effect? a. can occur with pricing b. can occur with advertising c. can occur with brand design d. 5 point difference can result is significant results to the higher scoring company e. all are true. none are false. Your company sells bikes to the speed segment. In a hypothetical quarter 7 the results of a situation analysis found that one of your bigger competitors has developed a patented technology that results in frames 15% lighter than yours. This represents a(n)_______in SWOT? a. Strength b. Weakness c. Threat d. Opportunity e. None are correct f. All are correct- Assuming BMW wants to learn more about what customers value in a luxury driving experience, and then make decisions based on that research, what kind(s) of market research would you recommend that might improve BMW’s understanding? - BMW is facing the classic quality–quantity–cost trade-off; when it seeks higher-quality information (represented by more questions), fewer responses are received or research costs are higher. Since BMW’s executives all have 25 to 30 years of experience in the automotive market, what would be the advantages and disadvantages of trusting their own experience versus spending more on market research? - When problems develop, like what BMW is experiencing in its research data gathering, a new, often technological solution is developed to address the issue. What might be some innovative ways to approach gaining both statistical significance (through higher response rate) and deeper context (through open-ended qualitative data)?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?
- PLEASE answer CLO #2 CLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies. CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories. CLO #3 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions.2. Assume you are a marketing manager for an automobile company. Youhave been charged with repositioning an SUV model that was onceidentified as a “fuel guzzler”. The model has been redesigned with asuperefficient, nonpolluting hybrid engine. Which of the different types ofmarkets/publics would have the greatest impact on yo0ur establishing thenew “fuel efficient” positioning? Why did you say so? Make a simple plan.You have a job as a county extension agent and lead workshops for home gardeners. Smith comes to the workshops convinced that mantids will give excellent pest control based on the advertisements. Smith tries to convince everyone that mantids will control all the garden pests, from aphids to cabbage worms. What is a reason why mantids are unlikely to provide an acceptable level of pest control?
- First Flavor is a start-up company with a unique product. It manufactures great-tasting edible film that can replicate the flavor of just about anything, from an eight-topping pizza to an alcoholic beverage. If you’re wondering why a company would make such a product, think of the endless possibilities it allows for consumers to sample the taste of a food or beverage before purchasing it. Although First Flavor first replicated flavors on thin film in order to market the product as a new method for product sampling, the company is now evaluating many other applications of the technology. This video demonstrates how one product can be marketed in multiple ways. Can First Flavor successfully in pursue consumer product opportunities in addition to its promotional services? Explain.First Flavor is a start-up company with a unique product. It manufactures great-tasting edible film that can replicate the flavor of just about anything, from an eight-topping pizza to an alcoholic beverage. If you’re wondering why a company would make such a product, think of the endless possibilities it allows for consumers to sample the taste of a food or beverage before purchasing it. Although First Flavor first replicated flavors on thin film in order to market the product as a new method for product sampling, the company is now evaluating many other applications of the technology. This video demonstrates how one product can be marketed in multiple ways. Brainstorm a list of the ways that First Flavor’s edible film might be used to sample products.Prompt: In 1924, Kleenex tissue was invented as a means to remove cold cream. The product was initially backed by a series of advertisements that included endorsements from the era’s Hollywood stars, like Helen Hayes and Jean Harlow. After studying customer usage habits, however, the manufacturer (Kimberly Clark) realized that many customers were using the product as a disposable handkerchief. What strategy change should Kimberly-Clark adopt?