Question 2A business owner is in the process of setting up her marketing function. She is considering two optionsas given in Figure 1. She wants the option that will better enable her company to become highly focusedon understanding and serving the customer.FINANCEFigure 1: Two Options for Setting up the Marketing FunctionOption APRODUCTIONCUSTOMERMARKETINGHUMANRESOURCEFINANCEOption BPRODUCTIONMARKETINGCUSTOMERว กosa

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Answered: Question 2 A business owner is in the…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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5. Direct-to-consumer businesses have had mixed success. That is, while the model has succeeded in some categories, it has not worked in others. Can you identify reasons why? Which product categories may be more suited for direct-to-consumer business model?
1. The process of deciding which markets to invest in and pursuing is market selection. One of the major criteria to be kept in mind while doing a market selection is the growth potential of the market that is what is the potential for a company's revenue to grow by investing in a particular market. Market Selection is very critical in the financial sector and involves Segmentation, Targeting and Positioning. Discuss this statement and indicate their interrelationships among the constructs. 2. Without doubt, services have grown dramatically in recent years. As the share of services is growing rapidly in the world economy, one thing is clear: Services are becoming more and more important. Today, they make up already more than 65% of the gross world product. In developed countries, the service sector contributes more to economic growth than any other sector. However, all services have certain characteristics in common. Discuss extensively the four unique characteristics of services that…
1. Explain the price in 4Ps. 2. Explain the marketing price of jewelry. 3. Explain the statistic based on picture.
As a young Graduate who has been employed by Kyekyewere Limited who operates four different types of Businesses in four different industries as follows:a) Cash Cowb) Starc) Question Mark / Problem child andd) DogsWith the knowledge skills and competencies that you have acquired as a Graduate who studied Management of Small and Medium Enterprise Advise Management about these Investment Portfolios in the various industry (s). Your advice should cover the followinga) Explain to Management what Cash cow, Star , Question mark and Dogs industries represent.b) Advise Management on which firm(s) demand further investment and why? c) Advise Management on which firm(s) to close down and why?
What's the correct answer A,B,C,D or E no explanation needed thanks
3
Scenario: Lee is the owner of Lee's [business type selected by your instructor], which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business. Instructions: Summarize a marketing strategy for Lee's addressing each part. You can view Parts 1-3 you completed in Unit 1 concerning the mission, situation analysis, and marketing objectives. This week you will complete Parts 4-6 below to submit your final assignment to the Unit 2 Dropbox. Checklist: Part 4: Marketing Strategy ⚫ Describe the target market strategy for Lee's business. Paint a very clear picture of who Lee will be targeting for her product. For example: Appealing to an entire market, concentrating on one particular segment, or multiple market segments. • Explain the four strategies for growth: market penetration, market development, product development, and diversification. How can Lee use market penetration to increase her sales? Explain. ⚫…
Q2. How can B&D increase the probability that the consumer will buy its new small appliance products? What are the success-factors (activities) associated with effective marketing your group can think of. List & explain each. Pls Answer the Question from Below Context : Black and Decker, a noted marketer of products for the do-it-yourself market, acquired the General Electric Company’s small home appliancebusiness in 1985 for $300 million. B&D had enjoyed a 50 percent market share in the worldwide market for power tools, but the recession of the early 1980s and competition, especially from the Japanese, forced changes in manufacturing and marketing at B&D and led to the GE acquisition. Makita of Japan, for instance, which offered competitive power tools at a lower price, and in a very short time its market share was nearly equal to B&D’s. Alongside emerged a host of other emerging brandsB&D executives realized that the company could not stand still, and ride on…
Q1). Explain the role of marketing function in the context of contemporary business practice. Your answer should be backed up by relevant examples relating to the pharmacy sector Q4). Discuss the field of Risk Management and root cause analysis and their importance in a business setting. Included in your answer specific examples relating to the pharmacy sector. Focus
4 strategies that Tropical Leisure can implement in the short-term to profitably increase sales and regain market share given its current production and financial constraints. Four approaches to rise the short period profitability of the business: Approach 1: Enhances the cross-sell & up-sell moderately than increasing the worth of the product•Approach 2: Implementing loyalty programs to attract the customers/distributors to buy again from the company.•Approach 3: Running Fear of missing out on campaigns to create the demand•Approach 4: Having dealt with the financial institutions to clear the debt and to make sure the financial operations are running smoothly. For each of the strategies that you have outlined suggest how Mr. Grant mightproceed to evaluate these strategies.
How might a planner decide on competitive growth strategies using tools such as the market growth/market share matrix (Figure 2.3) and product-market matrix (Figure 2.4)?

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