Identify the micro and macro factors and their influence on Brightland Light Company.

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Question description

Instructions

You are part of the strategic planning team. Read BLSC (A), then develop a summary report to brief the Board of Directors.

http://lmscontent.embanet.com/NEU/MKTG6200/Files/BLSC_A.pdf

This summary should provide the following information:

  • Identify the micro and macro factors and their influence on Brightland Light Company.
  • The diversifications idea came out from strategic planning meetings. What do you think are the main arguments in favor of and against diversification?

Facts presented should support your suggested strategic analysis and implementation plan. Feel free to include a diagram in your post to help your discussion. Do not use bullet points. Remember, we have all read the case, so excessive fact recitation will reflect negatively on your grade. Looking at the problem from a strategic point of view will reflect positively on your grade. No late submissions will be accepted.

Submission

Your summary should not be more than five pages. Submit your summary as a Word document.

All written submissions should conform to the following format:

  • Typed, Times New Roman 12 font, 1-inch margin on all four sides.
  • Page numbers at the bottom of the page.
  • Cover page with student name and class number on each page.
  • No spellings or grammatical errors.

Guidelines

  • You will be graded not on the quantity of your work but the quality.
  • You will be marked down if your work is not relevant to the question being discussed. Sometimes it might be appropriate to refer back to a statement made earlier, which is fine as long as you are not unduly rehashing a point that has already been made.
  • Remember, we have all read the case/article, so excessively reciting facts that are given in the case will reflect negatively on your grade.
  • Looking at the problem from a strategic point of view will positively reflect on your grade.
  • If you believe a diagram you created will help your discussion, feel free to include it in your post.
  • Although you do not need to respond to every question, responding to only one question is not sufficient for earning high marks. You must show that you understand the entire problem at hand through your well-thought-out answers.
  • Your work should reflect the cumulative knowledge you have gained from previous chapters.

MKTG 6200: Creating and Sustaining Customer Markets Note: This is the text -only version of this week’s lecture. All media (i.e. videos, flash presentations, and PowerPoints) and learning activities (i.e. assigned readings, assignments, and discussions) are accessible only through the online course. Week 1: Marketing Analysis and Planning Overview Log in to the course to view video and alternative version. Click the link below to access a transcript of the video. Video Transcript Week 1 Learning Activities The following table summarizes all the learning activities for Week 1. You are required to complete all the activities listed here. The points for the assignments are shown in the table below. Marketing Cases will be graded separately for report and discussion. If you have questions about this, please talk to your instructor. Learning Activity Due Date Points Introductions Forum Compete by end of Day 1 ~ Reading 1 Chapter 1: Defining Marketing for the New Realities Compete by end of Day 1 ~ Reading 2 Chapter 2: Developing and Implementing Marketing Strategies and Plans Bright Lights and Services Co. Case (A) Compete by end of Day 2 ~ Reading 3 Learning by the Case Method in Marketing (HBS 9-590-008). Compete by end of Day 3 ~ Sign-up for a group (maximum of 3 or 4) and confirm group members. Once your group is formed, review the final project details and guidelines. Compete by end of Day 3 ~ BLSC (A) Submit throughTurnitin by 30 Week 1 Discussion 1 Final Project Week 1 Description 1 MKTG 6200: Creating and Sustaining Customer Markets Case Report end of Day 3 Week 1 Case Discussion Case Discussion Reading 4 Chapter 3: Capturing Marketing Insights and Forecasting Demand New Coke’s Fizzle – Lessons for the Rest of Us Week 1 Article Discussion New Coke's Fizzle Week 1 Study Quiz Optional Weekly Quiz Post by the end of Day 4 Respond by the end of Day 6 20 Compete by end of Day 5 ~ Post by end of Day 5 Respond by end of Day 7 30 ~ ~ All assignments are to be submitted through the Assignments area of the course. Similarly, all discussions can be accessed in the Discussions area. MKTG 6200 Discussion Board If you have a general question for your classmates, feel free to post it to the Discussion Board and the instructor will post a response. You can also use this discussion board to post your insights with regards to the questions posed by the course. Start your post by introducing the question you will be discussing. 2 MKTG 6200: Creating and Sustaining Customer Markets Week 1 Discussion 1: Introductions Forum Due: Day 1 Compose a short biographical sketch of yourself in which you state:       The name by which you prefer to be addressed Your current profession The name of the organization in which you are employed, and its location.Your educational background Your reasons for taking this course What you expect to achieve after you have completed this course Any other information you believe you should share with other students Notes:   No order is implied in the above list. You may include your picture as a jpeg or gif file. The image size should be about 150 x 150 pixels or smaller. Final Project and Week 4 Assignment Sign-up Sheet Select the group that you want to join in the Groups page and then click Sign Up. Note that each group should consist of 3-4 students. The group sign-up sheet is available beginning on Day 1 of the course. Choose your group by the end of Day 3 of Week 1. Once your group is formed, choose one member from your group to submit a final list of the members to your Instructor. Contact your instructor and seek his/her help if you are having difficulty finding a team member. Lesson 1 Learning Objectives After completing this lesson, you should be able to:       Understand the role of marketing in the organization and in society. Differentiate between needs and wants of the consumer. Understand core concepts of marketing. Identify the 4Ps of marketing. Identify different types of marketing orientations. Understand the tasks performed in marketing organizations. 3 MKTG 6200: Creating and Sustaining Customer Markets Reading 1 (Complete by end of Day 1)  Chapter 1: Defining Marketing for the New Realities Chapter 1 Presentation PowerPoint slides for this chapter can be found in the presentation below and will be used to discuss the text material. The PowerPoint slides are not intended to cover all the material in the textbook. It is very critical that you read the chapter completely and be familiar with the key issues from the chapter. Notes explaining the information on the slides are provided in the notes section of each slide. You can also listen to a voiceover narrating the text. A downloadable copy of the PowerPoint slides is available below the presentation. Log in to the course to view presentation and alternative version. Alternate Version Needs vs. Wants Activity To understand the difference between needs and wants, complete the following exercise. Fill in the blanks of the following sentences. Be as specific as possible with product names and brands. If you didn’t do one of these tasks today, write what you might have done on any given day. Click on the Submit button to view how other students rated the items in terms of percentages. Log in to the course to access interactive course content and alternative version. Alternate Version Summary of Fundamental Marketing Concepts & Tasks A good summary of how these terms all come together to form the core concepts of marketing is shown through the following figure. Scroll over each set of terms in the figure below for the definitions. Log in to the course to access interactive course content and alternative version. Alternate Version 4 MKTG 6200: Creating and Sustaining Customer Markets Key Words List #1 Demands - Wants for specific products backed by an ability to pay for them. Holistic Marketing - A concept based on the development, design, and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependencies. Integrated Marketing – An integration and coordination of communication vehicles to deliver a clear, consistent, and compelling message about the 4Ps. Internal Marketing - Incorporated into holistic marketing, ensuring that everyone in the organization embraces appropriate marketing principles, especially senior management. Needs - Basic human requirements. Positioning - Act of designing the company’s offerings and image to occupy a distinctive place in the target market’s mind compared to the competition. Product Concept - Consumers will favor those products that offer the most quality, performance, or innovative features. Production Concept - Consumers will prefer products that are widely available and inexpensive. Selling Concept - Consumers and businesses, if left alone, will not ordinarily buy enough of the organization’s products and must be “sold” on the idea. Satisfaction - Reflects a person’s comparative judgments resulting in a product’s perceived performance or outcome in relation to his or her expectations. Segmentation - Identifying and dividing buyers into distinct groups who might prefer or require varying products and services. Target Market - Is the qualified available market that the company decides to pursue. Value - Reflects the perceived tangible and intangible benefits and costs to customers. Wants – Form that human needs take as shaped by culture and individual personality. 5 MKTG 6200: Creating and Sustaining Customer Markets Lesson 2 Learning Objectives After completing this lesson, you should be able to:        Understand the major steps in strategic planning and marketing's role in this planning. Understand three characteristics of core competencies. Understand Boston Consulting Group (BCG) strategy categories. Understand the strengths and weaknesses of different business portfolio techniques. Understand factors impacting the macro- and micro-environments. Understand how to assess marketing performance. Apply concepts from the text to analyze Bright Lights Service Company (BLSC). Reading 2 (Complete by end of Day 2)  Chapter 2: Developing and Implementing Marketing Strategies and Plans Course Pack:  Bright Lights and Services Co. (A) Instructions We will be using this case to apply some of the concepts from Lessons 1 and 2. Skimming the case once will give you an idea of the important issues that will need to be addressed when we discuss this case and when you complete your assignment on it. Please note that Lesson 2 contains a significant amount of material concerning pedagogy using cases. We only have to cover this material once, but you should plan that you will spend a couple extra hours this week on that material. In general, the lessons where we discuss a case will require more hours than lessons where we don’t — please plan accordingly. Reading 3 (Complete by end of Day 3) Course Pack:  Learning by the Case Method in Marketing (HBS 9-590-008) 6 MKTG 6200: Creating and Sustaining Customer Markets Chapter 2 Presentation PowerPoint slides for this chapter can be found in the presentation below and will be used to discuss the text material. The PowerPoint slides are not intended to cover all the material in the textbook. It is very critical that you read the chapter completely and be familiar with the key issues from the chapter. Notes explaining the information on the slides are provided in the notes section of each slide. You can also listen to a voiceover narrating the text. A downloadable copy of the PowerPoint slides is available below the presentation. Log in to the course to view presentation and alternative version. Alternate Version The BCG Matrix Click on each of the symbols in the matrix to view an explanation of the symbol. Log in to the course to access interactive course content and alternative version. Alternate Version Title: BLSC (A) Case Report Value: 30 points Due: By the end of Day 3 Instructions You are part of the strategic planning team. Read BLSC (A), then develop a summary report to brief the Board of Directors. This summary should provide the following information:   Identify the micro and macro factors and their influence on Brightland Light Company. The diversifications idea came out from strategic planning meetings. What do you think are the main arguments in favor of and against diversification? Facts presented should support your suggested strategic analysis and implementation plan. Feel free to include a diagram in your post to help your discussion. Do not use bullet points. Remember, we have all read the case, so excessive fact recitation will reflect negatively on your grade. Looking at the problem from a strategic point of view will reflect positively on your grade. No late submissions will be accepted. Submission Your summary should not be more than five pages. Submit your summary as a Word document. Upload your file using the Turnitin drop box located in the Assignments area of the course by the end of Day 3. 7 MKTG 6200: Creating and Sustaining Customer Markets All written submissions should conform to the following format:     Typed, Times New Roman 12 font, 1-inch margin on all four sides. Page numbers at the bottom of the page. Cover page with student name and class number on each page. No spellings or grammatical errors. Guidelines        You will be graded not on the quantity of your work but the quality. You will be marked down if your work is not relevant to the question being discussed. Sometimes it might be appropriate to refer back to a statement made earlier, which is fine as long as you are not unduly rehashing a point that has already been made. Remember, we have all read the case/article, so excessively reciting facts that are given in the case will reflect negatively on your grade. Looking at the problem from a strategic point of view will positively reflect on your grade. If you believe a diagram you created will help your discussion, feel free to include it in your post. Although you do not need to respond to every question, responding to only one question is not sufficient for earning high marks. You must show that you understand the entire problem at hand through your well-thought-out answers. Your work should reflect the cumulative knowledge you have gained from previous chapters. Upload your file using the Turnitin drop box located in the Assignments area of the course by the end of Day 3. Final Project Details Teams should be formed by Day 3 A requirement for this course, as previously discussed in the course overview, is to develop a marketing plan for a company you or your teammates are familiar with. Each week you should be making progress towards completing the final project. During Weeks 3 and 4, you will be given a checklist of the items that you should be working on for the project, and you will have an opportunity to submit a status report to the instructor. The status reports are ungraded, but give you the opportunity to discuss your progress on the project with the instructor. The focus of the plan is to improve the company's current market position by developing a revised marketing mix (product, price, place, promotion, and/or positioning) that would lead to a stronger market position for the company. It is not necessary to change all the components of the mix; instead, focus on improving one position. Of course, changing one will impact the need to review how the other 4Ps now fit into the revised mix. 8 MKTG 6200: Creating and Sustaining Customer Markets To come up with ideas, think about these growth strategies: 1. Market Penetration - Implementing a strategy to increase market share of an existing product (for example, new advertising program or new pricing strategy). 2. Market Development - Implementing a strategy to increase market share of an existing product by finding a new target market (for example, setting up a global strategy). 3. Product Development - Implementing a strategy to increase overall company market share by adding a new product to the product line mix (for example, a product line extension). It might be beneficial to talk to a supervisor in the company to see if there is an actual project that could use the insights of a knowledgeable student such as yourself.    Is there a new product that is being considered? Is there a new marketing channel that needs to be developed? Is there a new promotion strategy that needs to be developed? If you have not already done so, after reviewing the course overview, click on the following link for complete project details. Final Project details and guidelines Checklist You are expected to complete the following items to begin your work on the final project.    You can complete this project in groups (3-4 students). However, if you cannot find a compatible team member to work with, you may do this project alone but you are responsible for the entire project. Learn how to set up a marketing plan by either using marketing software or finding other resources online. You are required to understand how to complete a marketing plan using templates. Come up with an idea for your marketing plan. If you have any questions regarding your project specifically, email your instructor. If you have general questions about the project, join the weekly chat of your instructor so that the answer is addressed to the entire class, or post your question to the MKTG 6200 Discussion Board. 9 MKTG 6200: Creating and Sustaining Customer Markets Title: BLSC (A) Case Discussion Value: 20 points Due: Initial Post by the end of Day 4, Respond by Day 6 Discussing the Business Case If you have not already done so, read BLSC (A) before completing the following discussion. Introduction: In this discussion we will build upon the BSLC(A) case report and responses you provided there by answering the following questions in a discussion. 1. Conduct a SWOT analysis for the four SBUs of BSLC and share your conclusions. 2. Conduct a Portfolio analysis for BSLC and provide a recommendation for resource allocation. Instructions   Post your response to at least one of the prompts in the Week 1 Case Discussions area, in the thread titled "BLSC (A)" by the end of Day 4. Post your response to your classmates' posts by the end of Day 6. Guidelines        You will be graded not on the quantity of your posts but the quality. You will be marked down if your post is not relevant to the question being discussed. Sometimes it might be appropriate to refer back to a statement made earlier, which is fine as long as you are not unduly rehashing a point that has already been made. Remember, we have all read the case/article, so excessively reciting facts that are given in the case will reflect negatively on your grade. Looking at the problem from a strategic point of view will positively reflect on your grade. If you believe a diagram you created will help your discussion, feel free to include it in your post. Although you do not need to respond to every question, responding to only one question is not sufficient for earning high marks. You must show that you understand the entire problem at hand through your well-thought-out answers. Your posts should reflect the cumulative knowledge you have gained from previous chapters. Post your initial response by the end of Day 4, and respond to your classmates' comments or follow-up questions from your Instructor by Day 6. 10 MKTG 6200: Creating and Sustaining Customer Markets Accessing Grademark Commentary for Individual Turnitin Assignments     Select the View/Complete link in the assignment drop box, or select your grade in the My Grades area. Next, select the title of the assignment in the Turnitin Assignment and Portfolio Inbox. Once the document view loads, select the GradeMark button, located at the top left of the screen. To view individual comments, hover the mouse over the blue comment bubbles. Key Words List #2 Cash Cow – SBUs/Brands that still appeal to a significant number of customers and remain profitable with virtually no marketing support. Core Competencies – Sources of competitive advantage in that they make a significant contribution to perceived customer benefits. Dogs – SBUs/Brands that have little appeal to a significant number of customers and may even be unprofitable. Macroenvironment – Political-legal, economic-demographic, social-cultural, and technologicalnatural are all external forces that must be considered in strategic planning. A firm has no control over the macroenvironments. Microenvironment – Publics, customers, competitors, and suppliers are all internal forces that must be considered in strategic planning. A firm has control over the microenvironments. Marketing Dashboard - A summary set of external and internal measures to track the performance of the marketing program. Market Development Strategy – A growth strategy of developing new markets for existing products. Market Penetration Strategy – The growth strategy of gaining market share with current products in the current marketplace. Marketing Plan – A road map of a strategic and tactical level of the marketing program that meets the company’s goals. Product Development Strategy – A growth strategy where new products are developed for existing markets. Question Marks – SBUs/Brands in a growing market that have a low market share. With the right resources, they have the potential to become stars, but could become “dogs." Stars – SBUs/Brands in a growing market with a high market share. Require resources to maintain this position. Strategic Business Unit (SBU) – A single business or a collection of related businesses that can be planned separately from the rest of the company. Value Chain – A tool for identifying ways to create more customer value. 11 MKTG 6200: Creating and Sustaining Customer Markets Lesson 3 Learning Objectives After completing this lesson, you should be able to:      Understand the marketing research process. Understand when to use primary and secondary research. Understand the different research approaches. Understand different methods of estimating current and future demand. Understand how to calculate new product forecasts using ATAR. Reading 4 (Complete by end of Day 5)  Chapter 3: Capturing Marketing Insights and Forecasting Demand Course Pack  New Coke's Fizzle - Lessons for the Rest of Us, Sloan Management Review, 71 (Fall 1986), Betsy D. Gelband, Gabriel M. Gelb. Chapter 3 Presentation PowerPoint slides for this chapter can be found in the presentation below and will be used to discuss the text material. The PowerPoint slides are not intended to cover all the materials in the textbook. It is very critical that you read the chapter completely and be familiar with the key issues from the chapter. Notes explaining the information on the slides are provided in the notes section of each slide. You can also listen to a voiceover narrating the text. A downloadable copy of the PowerPoint slides used is available below the presentation. Log in to the course to view presentation and alternative version. Alternate Version The Marketing Research Process See Chapter 3 in your textbook for the steps that take place in the marketing research process. The New Coke reading is a good example of the marketing research process. If you haven’t yet read that article, please do so now. It will make this discussion more meaningful. The first step in the marketing research process is to define the problem and research objectives. There are typically three objectives that firms are concerned about. These objectives are summarized in the table below. 12 MKTG 6200: Creating and Sustaining Customer Markets Alternate Version 13 MKTG 6200: Creating and Sustaining Customer Markets Title: Discussion New Coke's Fizzle Value: 30 points Due: Initial Post by the end of Day 5, Respond by Day 7 Discussing the Business Article If you have not already done so, read the article "New Coke's Fizzle – Lessons for the Rest of Us". As you read the article, keep in mind these questions: 1. What were the research objectives of Coca-Cola with the New Coke product? What was the problem at hand? Support your answer. Note: There may have been more than one objective. 2. Identify what different types of research approaches were used by Coca-Cola. What types of research instruments were used? How were samples obtained? Which population was surveyed? What contact methods were used? 3. Identify the marketing research results that were provided in the Coca-Cola reading. What did the company learn from this data? What was its relevance to the research problem defined? 4. Describe the decision made by Coca-Cola after obtaining the research results. Why was this decision flawed? What should have been done differently? 5. What was done correctly? Instructions The questions above will be discussed according to the schedule below:   Post your answers to at least one of the above questions in the Week 1 Discussion: New Coke's Fizzle area, in the thread titled "New Coke's Fizzle" by the end of Day 5. Post your response to your classmates' posts by the end of Day 7. Guidelines        You will be graded not on the quantity of your posts but the quality. You will be marked down if your post is not relevant to the question being discussed. Sometimes it might be appropriate to refer back to a statement made earlier, which is fine as long as you are not unduly rehashing a point that has already been made. Remember, we have all read the case/article, so excessively reciting facts that are given in the case will reflect negatively on your grade. Looking at the problem from a strategic point of view will positively reflect on your grade. If you believe a diagram you created will help your discussion, feel free to include it in your post. Although you do not need to respond to every question, responding to only one question is not sufficient for earning high marks. You must show that you understand the entire problem at hand through your well-thought-out answers. Your posts should reflect the cumulative knowledge you have gained from previous chapters. 14 MKTG 6200: Creating and Sustaining Customer Markets Week 1 Study Quiz (Chapters 1-3) At the end of each week you have an opportunity to test yourself on your understanding of the key conceptslearned during the week. This exercise should also help you become familiar with the type of multiple choice questions you will see in your exams. Please note that these quizzes are completely OPTIONAL and you will NOT be graded. These are intended to provide you with some practice for your multiple choice questions in the exams. 15 MKTG 6200: Creating and Sustaining Customer Markets Key Words List #3 Available Market - Set of consumers who have interest, income, and access to a particular offer. Behavioral Data - Purchasing behavior from store databases, catalogs, and Internet purchasing records, and store scanning data. Much can be learned from analyzing this data. Concept Test – Prescreening of a new product idea where potential consumers are presented with a new product idea and asked their purchase intentions if such a product existed. Demand Measurement - Measuring the total volume that would be purchased by a defined consumer group, in a defined geographical area, in a defined time period, under a defined marketing environment, and under a defined marketing program. Experimental Research - Most scientifically valid; captures cause-and-effect relationships by eliminating competing explanations of the observed findings. Focus Group - A gathering of six to ten people who are carefully selected based on certain demographic,psychographic, or other considerations. They are brought together to discuss topics of interest monitored by a research moderator. Marketing Intelligence System - A set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment. Observational Research - Gathering fresh data by observing the relevant actors and settings. Penetrated Market - Set of consumers who are buying the company’s product. Potential Market – Set of consumers who have a sufficient level of interest in a market offer; interest is not enough to define a market. Primary Research - Defining the problem, decision alternatives, and research objectives. Research Instrument - Choice of methods in collecting primary data. Secondary Research – Designing an efficient, affordable research plan for gathering the needed information. This entails decisions about data sources, research approaches, research instruments, sampling plan, and contact methods. Survey Research - Using surveys, companies can learn about people’s knowledge, beliefs, preferences, and satisfaction, and can measure these magnitudes in the general population. Week 1 Summary Log in to the course to view video and alternative version. Transcript 16

Tutor Answer

masterjoe
School: UC Berkeley

thank you for working with me

BLSC (A) Case Marketing Report
Author
Institution

1

BLSC (A) Case Marketing Report
The aim of this paper is to address the impact of micro and macro environment
components on Bright Light and Service Co in Brightland islands. The company Bright Light
and Service Co. is holding company that operates diverse businesses such as banking operations,
shipping operations, insurance and electric utility. In an attempt to achieve its objective the
company is influenced by micro and macro components. These two factors in marketing are
beyond the control of marketers yet play a crucial role in strategic marketing strategy.
Suppliers are responsible for providing inputs and are mainly from the United States
mainland these suppliers are responsible for providing fuels, consumer goods, appliances, food,
and commodities. Thus, we can say that the suppliers are somehow responsible for the company
success because they hold a certain power. This is evident by the fact that the islands receive
supplies only from the United States. Furthermore, in this case, the buyer is not portrayed as vital
to the suppliers while as it is clear that he needs the suppliers. On one hand it is paramount to
monitor the suppliers while on the other hand establish a mutual interdependence.
The reseller: in this case the reseller are the insurance companies, banking sector, the
shipping operators and electricity providers who are responsible for taking the Bright Light and
Service Co-product to the market as the third parties. When the reseller are reputable, then they
are able to leverage the product marketing.
Customers: the majority of Bright Light Service Co. are the Brightlands isl...

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