Discuss which step of the strategic management process you believe is the most important.Defend your position. Please make sure that your responses are substantial and that you cite your source(s) .
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- 2-11. How do the goals set for a marketing program in the planning phase relate to the evaluation phase of the strategic marketing process?What is the role of competitive analysis in marketing, and how can companies gain a competitive advantage through effective analysis?The goal of this exercise is to demonstrate your understanding the three phases of the strategic marketing process; planning, implementation, and evaluation. Read the description of the marketing action and then match it to the appropriate stage of the Strategic Marketing Process. Situation analysis Executing the marketing program Designing the marketing program Market-product focus and goal setting 4 Marketing program 5 6 Acting on deviations 2 3 Defining precise tasks, responsibilities, and deadlines 8 Obtaining resources Comparing results with plan to identify deviations 9 Match each of the options above to the items below. As the sales for digital cameras has increased, the sales for traditional film and film camera has declined Managers at Kodak select which products will be directed toward which customer for each of its strategic business units 3 Kodak managers select the marketing mix (4Ps) and related budget for each of its strategic business units Managers for the digital…
- Marketing management is about ensuring that marketing decisions are well planned and executed in order to satisfy the needs and wants of the customers. It is expected that all firms adopt the marketing concept/ orientation at all levels of the management Giving examples, discuss how a firms can adopt the marketing concept in their decisions making processes In what ways can manufacturing firms benefit from knowledge of marketing?Conduct a SWOT analysis of your company to identify its strengths and weaknesses. Continue your analysis to include the business environment, discovering any opportunities that exist or threats that may affect your companyAnalyze the marketing activities of Amazon.com inc. This analysis should cover the major topics as discussed in the course. The paper should focus on the strategic marketing decisions of a particular product or service (Amazon web service). Take the position of the marketing manager for the company’s product or service (Amazon web service). Should be at least three pages in length. Written analysis of product/service should include the following as appropriate (or as needed). Market Environment Competition Industry trends Environmental threats and opportunities S.W.O.T (political, demographic, technological, cultural, legal, etc.) The Market Segments served Target customer group Demand factors Behavior aspects of buying process
- Porter's Five Forces Model is an essential framework for understanding industries and market forces and is an effective tool when analyzing a company that employs you as a consultant. It will help you come up with strategies to put forward to your client which will improve their business. By assessing the five forces you will be able to determine how the attractiveness of the market or the industry that your client is in. In general, the stronger these forces the less attractive the market or industry as it is more competitive which means that in times of increased competition there is more strain on the company. The main focus in your role as a consultant will not only be to assess these for your client but also to consider and propose viable solutions for your client. Choose one of the following listed here and analyze what happened to the market using Porter's Five Forces: GPS device and a road atlas (Analysis requires research. I am expecting you to research market development…Create your own example of strategic marketing process of your own business. Observe creativity and catchy words to influence the people.What types of quantitative analysis are useful to analyze whether a company should take a successful premium product and choose to go down-market?
- How can our company effectively align its management strategies with the objectives outlined in our business proposal to ensure successful implementation and achievement of desired outcomes?Your marketing staff (again) wants to invest $20 million in advertising to increase consumer willingness to pay per unit by a projected 6%. Your operations staff (again) wants to invest $20 million on a technology that will reduce production cost per unit by 5%. As Director of Strategic Planning, you are responsible for allocating resources to these subordinate functions. Which of the following recommendations and rationales should you offer the CEO if her goal is to create a long-run sustainable competitive advantage over rivals? O A. The marketing staff should be supported because consumers view all producers' offerings as homogenous. B. The marketing staff should be supported because a 6% increase in willingness to pay per unit exceeds a 5% decrease in cost per unit. C. The marketing staff should be supported because buyer switching costs are low. D. The operations staff should be supported because industry producers compete primarily on price. O E. The operations staff should be…Market analysis offers managers insights into the interrelationships of firms, consumers, and products so that they may understand and predict consumers’ (possibly competitors) response to their actions. Critically explain four (4) reasons for correctly defining a market. Critically evaluate four (4) critical dimensions of market analysis in the marketing planning process. Apply real marketing examples from specialty coffee chains to both your answers.