Gregory Schwartz
Discussing the Issues:
1.
Strategic planning: The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
Business unit,
Corporate level product, and market level
Defining the company mission.
Setting company objectives and goals
Designing the business portfolio
Planning marketing and other functional strategies
2.
The Boston Consulting Group Approach is the planning method that separates SBUs into four groups: Stars, Question marks, Cash cows, and Dogs.
3.
The Product/ market expansion grid is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification.
4.
The concepts of market segmentation, market targeting, positioning, and differentiation are separate and varied concepts that can be distinguished from one another. Market segmentation is dividing the market in to distinct groups for target marketing so that you know exactly which audience you are looking to sell your product to. Positioning is having a comfortable place to occupy in the business world relative to competitors and consumers. Differentiation is used to create superior value.
5.
The four Ps are: Product, Place, Promotion, and Price. Businesses might consider the four Cs rather than the four Ps because they deal with customers and customer satisfaction and approval.
6.
Return on marketing investment, commonly referred to as marketing ROI, is the net return from a marketing investment divided by the costs of the marketing investment.
Application Questions:
1.
The SWOT analysis is the evaluation of the companies Strengths, Weaknesses, Opportunities, and Threats. It is used by the company and investors to sense how the company is doing and if the will be racking in profit.
2.
Good Mission Statement from Coca Cola: To refresh the world, inspire moments of optimism and happiness, and to create value and make a difference.
3.
Sprite, Call of Duty, and AT&T won Effie awards.