Marketing Strategy Notes

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Marketing Strategy Notes

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Marketing Strategy Notes

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Refer To Class Notes From 3/29] A Company Is

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Harvard Business School 9-598-061 Rev. November 1, 2000 Essay on Marketing Strategy A long time ago, Peter Drucker wrote that every business enterprise has only two main functions: marketing and innovation.1 Everything else, he meant, was details. The central role of marketing stems from the fact that marketing is the process by which a company creates value for its chosen customers. Value is created by satisfying customer needs. So the company should not define itself by the product it is selling, but it should define its benefit to the customer. Having created value for its customers, the company then has the right to capture a portion of that value. To remain a viable concern, a company must sustain this process of value creation and capture over a long period of time. Within this plan, in which value is created continuously, is the company’s marketing strategy. Marketing strategy consists of two main actions: (i) choosing the target market and determining the desired positioning of the product in the minds of the target customers and (ii) determining the plan of marketing activities to achieve the desired positioning. . Figure A shows a diagram outlining the general process of developing a marketing strategy. As shown, five main areas of analysis underlie marketing decision making. We begin by analyzing the 5 C’s—Customers, Company, Competitors, Employees, and Context. We ask: Customer needs What needs are we trying to meet? A company’s skills What is its unique ability to do…

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Responsibilities and Ownership You have joined the Participating Company as an Account Executive. You reviewed the financial statements to learn about family and owner obligations. You have joined the participating Company as an Account Executive. You looked at the financial statements to learn about the company. During the audit, you have concerns about their retirement assets. The participating company had pension assets of $14 million and pension liabilities of $12 million, but projected benefit obligations of $16 million. Pension assets were reduced as liabilities were $16 million compared to assets of $14 million. You go to the CEO, Bill Jensen, and tell him, “Bill, when I was reviewing the accounts, I noticed that we have a problem with our pension assets. $2 million underfunded. We have pension assets of $14 million against We have $16 million in outstanding debt. We need to clean it up and put more money into retirement assets.” Bill seemed indifferent. He replied: “I noticed that. No problem! Why don’t we fire ineligible workers since the pension liabilities paid are $12 million compared to the pension assets of $14 million? What do you think?” How can you answer? What should be done?

Amazon.com: Marketing Strategy: The Thinking Involved: 9781412987301: Hill, Mark E.: Books

BMGT 380 UMUC Week 6 Business Law Independent Contractor vs. Employee Discussion Facts: You and Vinny and Ralph are discussing Kline’s plan to hire George Tacey as a recruiting agent You and Vinny and Ralph are discussing Kleen’s plan to hire George Tacey as a computer/IT recruiting and recruiting agent. You all know the importance of clearly defining the agency agreement, and there are different types of agents. 1. Analyze and recommend whether Tacy should be a clean laborer or an independent contractor? Explain why.

Stanford University Business The Benefits of Economic Growth Questions The benefits of specialization and entrepreneurship are based on comparative advantage which reflects the opportunity cost of … which reflects the opportunity cost of production. As countries specialize in the production of goods and services in which they have a comparative advantage, the total output of the world economy increases. Business advocates argue that this increase in the size of the economic barrier can be used to make all trading countries better at international trade. Economists also use the principle of comparative advantage to argue for free trade between countries as good policy. Based on the above summary and the detailed description of international trade issues in the textbook (Chapter 40), discuss the following questions. Does free trade improve economic welfare? How does entrepreneurship drive long-term economic growth? Explain. Who benefits and who loses from free trade between countries, and how do those benefits compare to the losses? Explain with examples. Do you believe that US exports and imports of goods and services are based on the principle of comparative advantage in trade? Explain. Why do countries impose trade restrictions on goods and services they import from other countries? What are the advantages and disadvantages of business protection? What are the effects of free trade on national employment policies? Explain with examples. First, discuss the quotes and links, then post the answers below. Published 1 Free trade promotes economic growth by allowing countries to specialize in areas of efficient production (McConnell, Brue, & Flynn, 2018). This means that the global economy can have a more efficient allocation of resources, basically you can focus on what you are good at and get other things from somewhere else that can give you a lower price. Trade also promotes competition and innovation because new ideas can spread quickly from one country to another (McConnell, Brue, & Flynn, 2018). Focusing on areas of performance will give countries an advantage in those areas, and this will contribute to long-term growth. International trade allows countries to specialize, increase productivity, and increase productivity at greater rates than without (McConnell, Brue, & Flynn, 2018). Jobs will be transferred to industries that the country exports more and other industries that can be imported in large numbers. This means that the losers may be industries that were previously protected from business. An example of this is the US steel industry (McConnell, Brue, & Flynn (2018)). Its total imports and exports in US dollars exceed that of any other country (McConnell, Brue, & Flynn, 2018). They export based on their natural resources and skilled labor and import mainly because of the cost of unskilled labor. These are the areas of competitive advantage that both sides use, which shows that it is based on the principle of comparative advantage. Tariffs, quotas, and other trade barriers are imposed for a number of possible reasons.