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How can a firm conduct a competitive analysis to understand brand's position in the market and identify areas for improvement?
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- Identifying competitors is key in the development of future marketing strategy. Evaluate the role of a comprehensive competitors’ analysis exploring what information needs to be gathered about competitors and what role it will play in the development of strategyExplain the strategic option that takes the organization away from its existing products and marketsWhen is a business most likely to adjust the marketing mix of a product? If costs change If customer needs change If management changes If Price changes
- Explain the differences between the three business-level generic competitive strategies.Name a brand that you believe is highly “successful.” list and briefly describe the criteria you would use to determine a brand’s potential success in the marketplace.What are the strategic implications for a company whose product is in the decline stage of the life cycle?
- Describe the use of marketing research throughout the new product development process. What should be included in a business analysis for a new product?Some contemporary companies intend to attract both the old and new generations with their old ideas, designs and services. Select a company of your own choice to analyse and evaluate the following:a- The customer based-brand equity of this company and the stages it adopts/or had adopted to apply retro branding .b- The marketing strategies and orientations used by this company to develop its retro brand and communicate with the target marketHow would the marketing dashboard differ between a business-to-business company marketing computer software and a producer of packaged consumer products?
- In your own understanding, Explain briefly the role of the Product life cycle model in Marketing Management? Please share own your thoughts and use your own words. Thank youHow does mission-driven marketing contribute to brand differentiation and customer loyalty?List and briefly describe 4 variables from the external marketing environment. Provide a brief description of how each of the variable that you list may be able to influence marketing decisions. For example, if you include "technology" as one of your variables from the external marketing environment, you could describe the manufacturing of micro chips that are in many of the products that people use daily, i.e., the camera in your vehicle that shows you what is behind you when you back up uses a micro chip. Many chips are manufactured internationally. Recently, Congress supported legislation that enhances production of micro chips here in the United States. Accessibility to micro chips, enhanced product features, such as rear view alerts for drivers, also enhances product development and innovation. All of the example impacts several aspects of marketing. Then, in your answer, you would list at least two aspects of marketing that can be impacted based on the information in the…