please respond to these two with 175 words or more. Arthur Calloway20 hours ago, at 11:25 PM NEWThe major difference between a business level strategy and a corporate level strategy is scope. The scope of the corporate level strategy is to understand how to implement multiple products into multiple markets. The scope of the business level strategy is how to implement a single product into a single market. The easiest example I can think of is Amazon. The business level strategy at the beginning was books, video and music. It was providing those products to the customer in an efficient way. Amazon has grown quite a bit and has a corporate strategy that involves implementing AWS, a marketplace, Kindle market, a streaming service, globally.With companies that get as big as Amazon there is always talk about separating the businesses from each other and that sometimes it would lead to higher revenue. The reason for this is that they would be able to implement their business level strategy. A business level strategy is a tool that provides a clearer vision and mission to create value for the customers that you might miss with a high level corporate strategy.inda Dabney2/20/20, 9:44 PM NEWDiscuss the differences and relationship between a business level strategy and a corporate level strategy.The goal of a business-level strategy is to gain a competitive advantage by exploiting the company’s core competencies in particular markets. It is the central strategy that the company utilizes to compete in a specific market. Successful business strategies focus on the company’s customers by defining: who they are, what their needs are, and how the services the business provides will predominate the market (Hitt, Ireland, & Hoskisson, 2015, p. 105).The corporate-level strategy provides details for specific actions the business takes to achieve a competitive advantage in the marketplace. This strategy selects and manages groups of companies that are competing in various product markets. The goal of the corporate-level strategy is to increase its revenues and profits by using defensive or offensive tactics, including market development by penetrating markets in different regions, (Hitt, etc., 2015, p. 166).Use examples from your own company (or a company with which you are familiar) in order to illustrate this differences and relationship. As the world’s largest home improvement retailer, Home Depot’s business-level strategy focuses on market share with their customers and creating shareholder value. The approach focuses on driving growth by delivering exceptional customer service focusing on connecting associates to customers, as well as expediting customers’ experiences by connecting stores to online and connecting products to shelf, site, and customer.Home Depot’s corporate-level strategy uses an interconnected approach. Home Depot (2019) that their plan is as follows:Connecting sales staff to customer needs;An interconnected experience: stores to online, and online to stores;Connect products and services to customer needs;Connect the product to shelf, site, and customer;Innovate our business model and value chain (Our Strategy).References:Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015). Strategic management: Competitiveness and globalization (11th ed.). Stamford, CT: Cengage. Home Depot, (2019). Annual Report. Retrieved from https://www.sec.gov/Archives/edgar/data/354950/000...

Due ThursdayRespond to the following in a minimum of 175 words: An effective marketing plan is critical to the success of your product and/or service. What are the key components of an effective marketing plan and why is the marketing plan one of the most important elements of the marketing process? Be specific. Provide an example.