Definition of marketing offered in the course content

Assignment Help Marketing Management
Reference no: EM131067243

Prepare your assignment beginning with a title page with your name and the name of your product or service.  Then answer each of the following four questions in order and number the beginning of your response to each question.  You do not need to repeat the question. 

1 Creating Value for Customers. Consider the customers you believe currently use your product or service and the definition of marketing offered in the course content. As we begin our study of marketing, what are your preliminary thoughts as to how you think the company creates value for its customers based on the concepts in this week's readings.

2. Role of the Customer in the Company's Strategic Plan.  The readings indicate that the best marketing begins with the customer and that commitment to the customer begins with including the customer in the company's mission statement.  Find your company's mission statement.  Repeat it (or attach as an exhibit if it is too long) and comment on its effectiveness in demonstrating the company's commitment to having a customer focus.  Could the mission statement have more focus on the customer?  How would you recommend it be modified?  Is it supported with value statements or other evidence of a customer focus? 

3. SWOT analysis.  Identify at least one element of each of the SWOT categories (a strength, a weakness, an opportunity, and a threat).  Explain your choice using a citation if needed.  Then identify possible implications for each of the four elements.  For example, if a strength is aa strong national brand name, the implication is that the company may be able to launch other related products under the positive umbrella of the same brand name.  Conversely, if a major weakness is the company is carrying a lot of debt, the implication is that the company not not be able to achieve significant growth, but may have to consider retrenchment strategies. 

4. Competitive Analysis. Identify at least two major competitors or those two products that are trying to sell essentially identical products to the same type of consumer.  Then, identify at least three criteria that are important to those consumers when they are making their decision as to which of the three competing offers to buy (e.g. price, specific benefit, service, warranty, convenience, specific feature, etc.).  Make a little chart with the three criteria along the left-hand side and the competitor products (including your own product) across the top.  Rank each of the products on a scale from 1= low to 5= high on each performs on each of the three criteria.  Add down each column.   Which product ranked highest overall based on the sum of the columns.   Then, look at the highest score in each of the criteria boxes.  Which products ranked the highest on each of the three criteria? Was it the same product, was it three different products?  What do these results tell you about the competitive environment of your product category.  Which product is the leader?  Which product is the follower, challenger and nicher if those categories apply?  Attach your chart as an exhibit.

General Submission Requirements

Prepare as a word processed document (such as Microsoft Word).

  • Your assignment should be the equivalent of two pages of double-spaced text, approximately 1/2 page for each of the four questions. Do not exceed this maximum. No analysis after the second page will be read. The Cover Page and the Bibliography are in addition to the two pages of written analysis.

Reference no: EM131067243

Questions Cloud

Future of the new product : Find a product that you have noticed recently and perceive to be new. Examine how the internet is being used to bring this new product to the consuming public. In 3-5 paragraphs, answer the following questions: What do you perceive the future of th..
What is the group number for each shaded region : What is the group number for each shaded region? Classify each of these substances as an element, a compound, or a mixture. Give a general characteristic of the elements in each of these groups.
Income tax purposes as personal use property : Tina owns a condominium in Santa Barbara. During the current year, she incurs the following expenses related to the property:
What do the community members spend their money : what do the community members spend their money
Definition of marketing offered in the course content : Creating Value for Customers. Consider the customers you believe currently use your product or service and the definition of marketing offered in the course content. As we begin our study of marketing, what are your preliminary thoughts as to how ..
Difference in patient bmi based on alcohol consumption : Is there a difference in patient BMI following the "Eat Your Heart Out" education intervention and difference in patient BMI based on alcohol consumption?
Standardizing and controlling the quality of service : The owner of the Convenient Taxi has difficulty in standardizing and controlling the quality of service that her customers receive. Her drivers tend to be less friendly later in their shifts. This problem illustrates which of the following unique ..
What is time poverty : 1. What is time poverty, and how can it influence our purchase decisions? 2. What are the two dimensions that determine whether we will react positively or negatively to a purchase environment?
Unrestricted net assets-temporarily restricted net assets : Gresham College is a local private college. When reviewing the college's financial reports, you would expect to see which of the following categories on its statement of assets and liabilities?

Reviews

Write a Review

 

Marketing Management Questions & Answers

  Components of the new product development process

Choose two components of the new product development process e.g. idea generation, product development, market analysis, commercialization or product launch and describe and analyse the product development strategy adopted by an energy company as ..

  Evaluate the lower and upper control limits for the chart

Evaluate the lower and upper control limits for the chart

  Explain the methods the company uses

Name a current advertising slogan you believe is particularly effective for developing a unique selling proposition. Explain the methods the company uses, the target market, and strategies

  Why do many department stores seek a markup of about 30

why do many department stores seek a markup of about 30 when some discount houses operate on a 20 markup? identify and

  The mba capstone exam is online and consists of 130

the mba capstone exam is online and consists of 130 randomly generated statistically validated questions. the questions

  Analyze the strategic marketing planning process strategies

write a six to eight 6-8 page paper in which you1.briefly describe the country that you have selected using the facts

  Is it a good or bad sign that the ratio decreased

Locate a publicly traded U.S. company of your choice. If a ratio decreased from 2012 to 2013, why do you think that it decreased? Is it a good or bad sign that the ratio decreased? Please explain

  Using the internet and the library select a country of your

your company is currently engaged in business activities both nationally and internationally. a country you are

  What is the difference between a product line and a product

1q. what is the difference between a product line and a product mix?2q. why can an ldquoinsignificant point of

  Part aquestion 1a product often consists of several

part aquestion 1a product often consists of several elements which the tourism marketer has to consider in order

  Explain what competitive advantage is from benchmarking

Explain What competitive advantage is possible from benchmarking the WEB sites of your competitors and customers

  Explain marketing-discussion

Explain Marketing-Discussion and Why are the production concept and the product concept and the selling concept considered inferior

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd