What role will porters five forces play

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Reference no: EM133293963

There are big changes happening at Garrett's Insurance. As Associate Director of Marketing Finance for the company, you have been tasked with helping to build out a new media program focused on "young singles" between the ages of 26 and 35. They plan to launch this program in July of the fiscal year. They have a budget of $223,000. Simultaneously, the company is downsizing, and you have been asked to reduce marketing costs by 12%. As an additional request, your boss has asked you to come up with a budget that eliminates television advertising. However, after a previous high-level meeting with stakeholders, you know your boss's boss is a big fan of television advertising, just in case, you will build a second budget that includes it.

What role will Porter's Five Forces play in shaping the framework of what is needed in the marketing budget to successfully manage future risk (e.g., substitution of power or new entrants)?
What are 2 key concerns regarding controllable versus uncontrollable volatility in this scenario?

Reference no: EM133293963

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