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Explore the external environment of your company

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Reference no: EM131161285

Chapter 1 An Overview of Marketing

1. How does your company/product/brand embrace or demonstrate the marketing concept?

2. How does (or could) your company/product/brand develop customer loyalty? What value-added retention programs are in place?

Chapter 2 Strategic Panning for Competitive Advantage

1. What is your company/product/brand's formal Mission Statement? (NOTE: It maybe called something else on their website). In your opinion, is the Mission Statement more product-oriented or is it more market-oriented?

2. Delve into your company/product/brand's history. Over the years, how have they grown? Explain how that growth was achieved in as much detail as possible using the product/market expansion grid (Ansoff's Matrix). If your company/product/brand is rather new, suggest likely growth strategies for them (also using the product/market expansion grid.)

3. Discuss your company/products/product lines within the framework of the Boston Consulting Group Portfolio Analysis tool.

Chapter4 The Marketing Environment

1. Explore the external environment of your company/product/brand. Specifically, how have changes or evolution in the following areas affected your company/product/brand? In other words, what opportunities or threats arose from changes in the external environment?

External Environment

* Demographic Environment: What demographic trends and developments had the (or could have the) MOST impact on your company/product/brand?

* Economic Environment : What economic trends and developments had the (or could have the) MOST impact on your company/product/brand?

* Technological Environment : What technological or scientific trends and developments had the (or could have the) MOST impact on your company/product/brand?

* Political Environment : What political trends and developments had the (or could have the) MOST impact on your company/product/brand?.

* Social/Cultural Environment : What cultural trends and developments had the (or could have the) MOST impact on your company/product/brand? Identify at least 3.

* Competitive Environment: Briefly describe key competitors and any recent strategic activities.

Chapter 6 ConsumerDecision Making & Buyer Behavior

Complete this section if your company/product/service is marketed to consumers.

1. Consider all the "Factors Influencing Consumer Behavior" as your framework, thoroughly discuss how the Social and Personal factors ONLY can influence the purchase of your product/brand. This question should be approached from the consumer perspective; i.e. how will the stage in the family life cycle or how will the consumer's reference groups influence his/her purchase decision regarding your product? [NOTE: You must address reference groups, family, roles and status, within the broad "Social" category...and so on for the Personal category].

2. Is your product/brand a high, moderate, or low involvement good? Please explain your reasoning.

3. Does cognitive dissonance play a role in the post-purchase behavior of your customers?

Chapter 8 Segmentation, Targeting & Positioning

1. Using the "Major Segmentation Variables for Consumer Markets" as your guide, thoroughly discuss how the relevant variables are or could be used by your company/ product/brand to segment the consumer market. Please be aware that not all variables listed will be appropriate for your chosen company or product...only discuss the relevant ones. [Example: One's occupation may not matter to Procter & Gamble when attempting to market Crest toothpaste. Occupation will matter to Timberland, a company that makes and markets work boots.]

2. Which target market strategy does your company/product/brand adhere to? Undifferentiated, Multisegment(Differentiated), Concentrated? Explain your choice.

Chapter 10 Product Concepts

1. Discuss branding strategies employed by your product/brand/company.

2. Does your product/brand/company distinguish itself from competitors using its packaging, warranties or labeling?

Chapter 11 Product Life-Cycle Strategies

1. What stage of the Product Life Cycle is your product/brand/company in today? Please thoroughly justify your answer using information from the descriptions in the chapter.

2. How did (or could) your product/brand/company extend its PLC by modifying the product, market or marketing mix.

Chapter 12 Services and Non-Profits

1. What strategies does your company use to address the special characteristics of services marketing? 7Ps
2. How does your company distinguish itself from competitors using its physical appearance, people, processes, location, or signage?

 

Chapter 13 Marketing Channels and Supply Chain Management

1. Three strategies regarding the number of intermediaries to use are discussed in this chapter. Which strategy is used by your product/brand/company? Why?

3. Does your product/brand/company get to consumers via a single channel or through a multi-channel distribution system? Please discuss.

Chapter 15,16 Integrated Marketing Communication: Advertising, Sales Promotion, and Public Relations

For this Chapter you will need to do some extra research into the advertising done by your product/brand/company. See if any examples of broadcast ads appear on the web site. Scan magazines and newspapers for samples of print ads. If you happen to catch a commercial on TV, take notes. Can you recall seeing any billboards? Does the company send out direct mail pieces? What public relations or publicity has the product/brand/company engaged in? Become familiar with all the forms of marketing communication conducted by your product/brand/company.

1. Given the extensive research you conducted into your product/brand/company's marketing communications, what promotion mix strategy - Push or Pull - is most likely used? On what evidence did you base your decision?

2. What Communications objectives can you identify in their advertising?

3. What type of Advertising Appeals can you identify?

4. Please describe the sales promotion tools used by your product/brand/company. In your opinion, are they effective?

Reference no: EM131161285

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