Essay and Application Questions-
Address five (5) questions only. Please provide a detailed answer, and write clearly and concisely to demonstrate your knowledge of strategies and concepts delineated in the chapters identified for this examination. You are encouraged to use appropriate examples/illustrations to buttress your points. It is important that answers and discussions are written or paraphrased in your own words! All questions carry equal marks.
1. Based on your reading and understanding of the assigned chapters, explain why marketing strategy and planning is important in the competitive business environment. State whether marketing strategy is relevant only to profit-making organizations. Can nonprofit organizations or the federal government also embrace marketing strategy and planning? Discuss.
2. Provide an operational definition of marketing strategy, and differentiate it from marketing management. Identify some distinguishing characteristics of marketing strategy.
3. Based on your understanding of marketing strategy, how should a company go about identifying the critical factors for success in its business? Identify two companies that in your opinion have outperformed their competitors based on their marketing strategies and planning. Be sure to substantiate your points/answers.
4. Employing your knowledge of marketing strategies, explain the significance of environmental scanning and SWOT (strengths, weaknesses, opportunities, and threats) analysis in competitive marketing situations.
5. Who in the organization should be responsible for scanning the business/marketing environment? What types of responsibilities should be assigned to the person in charge of environmental scanning in marketing operations. What role may consultants play in helping corporations in their environmental scanning activities? Explain. Please buttress your points.
6. Evaluate the current strategy of IBM related to personal computers and compare it with the strategy being pursued by Apple Computer. Why is it necessary for marketing strategist to measure strengths and weaknesses in local and global markets? Explain and justify your answer.
7. Based on your reading and experience, which is more effective: an emotional appeal strategy or a rational appeal strategy in marketing communication? Is emotional appeals relevant for all consumer products? Discuss with specificity.
8. Under what circumstances should marketing be adapted to local conditions? Describe the application of marketing strategy in global business competition.
Chapter one- Marketing as a Business Discipline
Chapter two - Marketing Strategy and Tactics
Chapter three - The Marketing Plan
Chapter eight - Managing products and Services
Chapter nine - Managing Brands
Chapter twelve - Managing Communication
Chapter sixteen - Managing New Products