When drawing up a balanced scorecard for a corporation, if for the Customer Perspective I select Customer Satisfaction as the objective and I pick four initiatives as : (1) Improve presentation of physical store/strong online presence (2) Provide incentives to customers (3) Stay in touch with customers (4) Effective customer communication; What Objectives and Initiatives should I select for Internal Business Process and Learning and Growth?
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When drawing up a balanced scorecard for a corporation, if for the Customer Perspective I select Customer Satisfaction as the objective and I pick four initiatives as : (1) Improve presentation of physical store/strong online presence (2) Provide incentives to customers (3) Stay in touch with customers (4) Effective customer communication;
What Objectives and Initiatives should I select for Internal Business Process and Learning and Growth?
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- Discuss the four marketing management philosophies and highlight how both the market orientation (marketing concept) and the societal marketing orientation are the most effective (more customer-driven).The four marketing management philosophies are product orientation, sales orientation, market orientation, and societal marketing orientation. List the three pre-requisite elements (Focusing on customers wants and needs, Integrating all the organization's activities to satisfy what customers wants, Achieving long term goals for the organization by satisfying the customers wants and needs) for the marketing concept to exist and for the company to succeed. Watch the video on "Costco CEO: High Wages, High Volume Drive Results for Costco Shareholder" https://www.youtube.com/watch?v=qC8Abk2atrM and reflect on the Costco's successes and the value of their Kirkland brand. Is Costco's successes because of their large membership base (how many?)? low-prices? customer-oriented employees? the…Describe the differences between viewing customer relationships as transactional versus having a lifetime value. How does the lifetime value concept change the way that service businesses assess customer relationships? What are the benefits to the service business of solid customer relationships and customer loyalty?Outline the steps that you would take in developing a strategic marketing plan for a company? How would you utilize the Bosting Consulting Matrix and Ansoff Matrix in this planning process?
- THEME: Identifying business opportunity by addressing current issues in your community Through market observation and changes in today’s lifestyle preference as well as daily struggles, you are able to identify various business opportunities. You are required to identify a business opportunity by addressing current issues in your community. Evaluate THREE (3) potential business ideas, and select ONLY ONE best idea to be presented in the Business Model Canvas (BMC). This business ideamust be a new and creative solutions that specifically address the identified issue. Develop your business idea through Business Model Canvas (BMC). Your submission must include:1. Business ideas.2. Value proposition. 3. Market and Customer segments.4. Channels.5. Customer relation.6. Key activities7. Key resources.8. Key partners.9. Cost structure.10. Revenue streams and pricing models.2-11. How do the goals set for a marketing program in the planning phase relate to the evaluation phase of the strategic marketing process?What objectives should be set for the company?
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