Read a popular business press/website (Business, Week, Wall Street Journal, Crain's, Fortune, etc.) to identify a both a strategic action and a tactical action taken by a firm approximately two years ago. Next, conduct a search online to see how competitors responded to those actions.
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Read a popular business press/website (Business, Week, Wall Street Journal, Crain's, Fortune, etc.) to identify a both a strategic action and a tactical action taken by a firm approximately two years ago. Next, conduct a search online to see how competitors responded to those actions.
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- Select a famous organization you are familiar with and write a basic description of it to include its type, size, industry, products (or services), and so on. Determine how that organization build strong customer relationships using current thinking about customer value and relationship marketing.Choosing either Visa or MasterCard, conduct your search on MarketLine. Identify key competitors with the industry and utilize the SWOT analysis information to discuss and critically analyze Strengths, Weaknesses, Opportunities and Threats.Suppose you are interested in opening a musical instruments store near the college or university you attend, to sell guitars, drums, and other types of musical instruments. What online resources would you draw on to conduct secondary research regarding the industry/target market feasibility of your business idea? How would you use the resources?
- Using the information in the case as a starting point, but also other sources such as Euromonitor, Mintel and Keynote, conduct a PRESTCOM analysis for an electricity company of your choice (e.g. eon, EDF, Ovo). Now conduct a SWOT analysis for the same company. Summarize the three changes in the marketing environment that you think are most significant for your chosen electricity company. Why are these more important than the other trends or issues that you have identified in your SWOT analysis? The answer to this question should be written out fully – not in bullet points.If the Company have no marketing strategy, explain the following consequence that might affect to their goals, mission and objectives. a) Losing out to competitors b) Losing market share to existing and start-up competitors c) Gaining and retaining fewer customers d) Missing out on opportunities for better targeting e) Lack of planning and discourage to execute good ideas. f) Easily collapse g) No direction in attaining the company’s goals and objectives h) Lack of managementGet together with two to three other classmates for this discussion question. Then: Select any organization that you find to be of interest. What product or service do they offer? Discuss the product/service base knowledge . How would this organization benefit from a marketing dashboard approach? Discuss. Using both your experience and unique perspective, discuss the elements you would recommend adding to this organization’s dashboard. Why do you recommend these elements? How could this organization avoid some of the pitfalls potentially associated with marketing dashboards?
- Strategic planning emphasizes the importance of a marketing role that works effectively for their partners. Describe the statement and create a scenario in terms of success and failure in the company.Business and Industry Profile. This section provides an overview of the industry andmarket segment.Market size and growth trendsSignificant industry trendsStrength of major companies in the marketCompetitor’s market share.Competitors’ products and strategiesRead the case below carefully and answer the following questions. Big Data, Big Business, Big Opportunities Imagine working 10 years to become the lead marketing executive at a large retail organization only to find that your competitor is invading your market share by 20 percent each year. You quickly decided to launch several online marketing promotions while improving your products, but find your efforts are fruitless as your competitor continues to steal your customers, destroying your profits while raising its own. As you begin to analyze your competitor's business strategy, you find that while you were focused on sales reports, product inventory analysis, and other traditional marketing efforts, your competitor was making a massive investment in upgrading all of its management information systems. This included systems capable of collecting, storing, and analyzing data from every store, product, and sales representative in the market. In fact, your competitor now knows more about…
- Select a company that predominantly focuses on either B2B or B2C markets. Next, choose a new market for your selected choice. For example, if you selected B2B, describe how customer behavior and the process would differ from marketing to B2C. If you selected B2C, describe how client behavior and the process would vary from marketing to B2B. Describe the challenges you would face in the new process. How would you emphasize value for your new market?Choose an engineering firm or any organization/company/agency of your choice with an existing marketing unit. Then, draw the organization chart of the firm showing the marketing unit and its relationship with other units.In relation to the increase in the demand of face masks due to COVID-19, create a brief company history (hypothetical) that includes the following: - Reason why your company was established - Founders brief profile - Company's major turning points - Notable events that happened along the journey of the business