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Marketing Plan
Question Description
I’m studying for my Marketing class and need an explanation.
Complete the Marketing Plan Exercises at the end of each assigned chapter. These exercises will be the building blocks for your final project, a marketing plan. You will do each exercise on the same enterprise. Your enterprise strategy may be: 1) real, emerging, or imaginary; 2) product or service oriented; and 3) for profit or non-profit. The target market may be anywhere in the life cycle from innovation to maturity. Read each Marketing Plan Exercise description in its entirety, below is a brief description of what is required.
- Chapter 1: Outline: New Product Marketing Plan
- Chapter 2: Organizational mission statement
- Chapter 3: Identify which type of business unit strategy to be used by your organization.

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Marketing Strategy - GM
Marketing Strategy - GM
"Concerning this case of the General Motors, the managers and the teams involved should take tough measures and choices of the market to compete and which not to; this suggests that the company should exit the current market segments and opportunities for technologies, services, and products where it will be impossible for the company to generate positive cash flow." True. In times such as these, tough measures and choices are called for. Where would you start as the marketing manager? What would you look at in human resources? Happy to see this, "In the marketing point of view, the 4Cs model that consists of Convenience, Cost, Communication, and Consumer has slowly replaced the 4Ps. This type of model is a consumer oriented and works better in a corporation that is changing from mass to niche marketing." Slowly but then again, not too slowly. Which of the 4Cs do you believe is vital for a company and why?

Market Opportunities
Market Opportunities
Bounded Rationality
What is "bounded rationality"? Arthur suggests that decision
makers conceive and nurture an "ecology of focal predictors" to deal
with complexity of the unknown. Explain Arthur's ideas using the following
scenario: Forecast the Dow Jones Average for the close of market trading on
this day in one year from the current date. Would you put your entire life
savings on your forecast? Allow a 5% margin of error to your forecast. Do you
feel more confident in your forecast? Why? What if you do put your life savings
on this and you are wrong?.2. The Competitive Environment at the Industry
Level
You have a large sum of money to invest in an entrepreneurial venture.
You are investigating possible alternatives on a systematic basis. Using
Porter's Five Competitiveness factors, analyze and draw a conclusion about the
relative attractiveness of each of the following industries:
Computer software design and manufacturing
for office applications
Gasoline service stations
Franchised boutique coffee shops
Civilian aircraft design and manufacturing
Travel planning and booking (agencies)
Which one seems most attractive? Would your answer change if you
represented a consortium of investors with serious funding and only two
objectives: create a professionally fulfilling challenge for managers of the
enterprise and a stable work environment for the employees? What do you think
are the three most critical success factors for each alternative?

Marketing Plan - Part II
Marketing Plan - Part II
Final Project Part II
Complete the
Marketing Plan Exercises at the end of each assigned chapter. These exercises
will be the building blocks for your final project, a marketing plan. You will
do each exercise on the same enterprise. Your enterprise strategy may be: 1)
real, emerging, or imaginary; 2) product or service oriented; and 3) for profit
or non-profit. The target market may be anywhere in the life cycle from
innovation to maturity. Read each Marketing Plan Exercise description in its
entirety, below is a brief description of what is required.
·
Chapter 4: Conduct macro-level market
and industry analyses of the market offering on which your plan is based.
For the market
offering on which your marketing plan or consulting project is based on, use
Internet and other available secondary resources to conduct macro-level market
and industry analyses. Your analyses should
include a macro trend analysis encompassing all relevant macro trend categories
and should uncover quantitative data that provides evidence of the size and
growth rate of the overall market, as well as qualitative data regarding the
five forces. You should also identify,
if you can, the few critical success factors that apply in your industry.
·
Chapter 5: Prepare a detailed plan for
conducting the primary research required to complete your final marketing plan.
Prepare a
detailed plan for conducting the primary research required to complete your
project. The research plan needs to do
three things:
1. Precisely
spell out the research objectives the research is intended to meet.
2. Design the research to get you there. Identify your methods, your sample, and any
statistics (means, etc.) you will employ.
Prepare drafts of questionnaires, guides for focus group sessions or
in-depth interviews, plans for how you will conduct observational research,
etc.
3. Describe how the combination of your secondary
research and your planned primary research will lead to your estimate of target
market size and your sales forecast for your marketing plan. Precisely spell out the mathematics that will
do this, connecting it to specific secondary data or specific answers to
questions or observations from your primary data.
Your research
design should clearly identify and satisfy your research objectives, and
appropriate qualitative and/or quantitative research should be competently
designed.

MKT 625 - week 1
MKT 625 - week 1
Utilizing the REQUIRED text:Schiffman, L. G., & Kanuk, L. L. (2010). Consumer behavior (10thed.). Upper Saddle River, NJ: Pearson. Answer BOTH 1 & 2: 1. Marketing ConceptDefine consumer behavior and discuss the underlying premise of consumer behavior, themarketing concept. Why is consumer behavior rooted in the marketingconcept? How does customer value and customer satisfaction play into themarketing concept? Open the link below and review the customer servicefacts. Why is it important for a business to focus on customer value andsatisfaction? Do you fall into any of these categories and if so, whichones? Explain why. Customer service facts 2. The Consumer Research Process Use the Consumer research interactive learning object to deepen your understanding of the order of steps in the research process. There are six steps in the consumer research process. Pick a product or service you have an interest in and question about. Describe the product or service, your question(s) and the research process to lay the foundation. Walk through each of the six steps as it relates to your product or service, providing your analysis of each and what you would do specifically at each step and why. Which step was the most informative and why? Which step was the least informative and why? Did the process help address your question (s)? Integrate and apply the concepts from the learning in your response. Examples: Why was the Snuggy so successful and is there still a market for it? Do consumers prefer McDonalds or Burger King? Should we expand globally?

Week 1 - MKT 625
Week 1 - MKT 625
Utilizing the REQUIRED text:Schiffman, L. G., & Kanuk, L. L. (2010). Consumer behavior (10thed.). Upper Saddle River, NJ: Pearson.Answer BOTH 1 & 2:1. Marketing ConceptDefine consumer behavior and discuss the underlying premise of consumer behavior, themarketing concept. Why is consumer behavior rooted in the marketingconcept? How does customer value and customer satisfaction play into themarketing concept? Open the link below and review the customer servicefacts. Why is it important for a business to focus on customer value andsatisfaction? Do you fall into any of these categories and if so, whichones? Explain why. Customer service facts 2. The Consumer Research Process Use the Consumer research interactive learning object to deepen your understanding of the order of steps in the research process. There are six steps in the consumer research process. Pick a product or service you have an interest in and question about. Describe the product or service, your question(s) and the research process to lay the foundation. Walk through each of the six steps as it relates to your product or service, providing your analysis of each and what you would do specifically at each step and why. Which step was the most informative and why? Which step was the least informative and why? Did the process help address your question (s)? Integrate and apply the concepts from the learning in your response. Examples: Why was the Snuggy so successful and is there still a market for it? Do consumers prefer McDonalds or Burger King?Should we expand globally?

Market Opportunities (Response)
Market Opportunities (Response)
This is in response to
the (2) Discussion Questions you responded to a few days ago
Disc 1 (Bounded
Rationality)
Well thought out
respond. "I would not due this since the error only represents the changes
in the prices of the stock. These changes do not reflect the value of the
company. As a result of this, the error will not have any effect in the
future welfare of the company. If the economy will be down at that time,
then the stock prices will also be low. This in turn might result in me
making huge loss." What do you believe this connection is to marketing and
our customers?
Disc 2 (The
Competitive Environment at the Industry Level)
Let's look at your
choice, "In my opinion, coming up with a gasoline station is the most
attractive business opportunity. This is because it seems to be very
stable as there is no interference with the prices of the gasoline
products." I see many gas stations going out of business......so is it
that stable? We will most probably always have the need for gasoline but what
about our competitors and the many choices? What does that factor play in the
big picture?
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