Description
APA Format
At Least 3 References
At Least 350 Words
Company Name: CHESTER
Project Manger of LOW END - CEDAR
Assignment Objectives:
Demonstrate collaborative, analytical and communication skills
Demonstrate the integration and utilization of key concepts and knowledge from prior courses to solve the selected problem
Select and apply the analytical tools associated with operational decision-making and optimization
Assignment Description:
Write 500 words that respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas.
Reflecting on your learning in the MBA program, section 4.2 of the CapSim Team Member Guide, and Pettus, Chapters 5 and 6, identify and explain the value of a marketing strategy that could lead to market dominance for your product and/or company. What decisions are you considering in Practice Round 1 to maximize your market share? Discuss your approach in terms of the marketing mix variables.
Include in your assessment:
- Your approach to each of the marketing mix variables (product (R&D), price, place, and promotion)
- Approach to growth in terms of market penetration, development and product development as discussed by Pettus in Chapter 6.
- How your strategy can be achieved through CapSim decisions.
Capsim Log :
USER NAME :22830631
PASSWORD: CTUstudent
Attached: Previous Assignment, Chapter Reading Material Ch. 5 & 6, Section 4.2 CapSim Team Member Guide
Explanation & Answer
Attached.
Marketing Strategies
Affiliated Institution
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A great marketing strategy is essential in achieving a higher market share. The
higher market share a company has, the more the company acquires competitive
advantage (Hassay, 2010). Competitive companies remain successful as they get
better pricing deals from their suppliers who also benefit from the large orders that
such companies make. Great production and high market share are two variables that
go hand in hand. A company's marketing share can be increased through
strengthening relationships with customers, innovation, practicing smart hiri...