Answered: how do the competitive forces and value…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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1. Why is strategic planning so important in retailing today? Should a retailer, even a small retailer, always have a strategy to change the rules of the game as it is currently being played? Why? 2. How do the retail firm's mission statement and its stated goals and objectives relate to the retailer's development of competitive strategy? 3. Many people have either strong favorable or unfavorable opinions of retailers in their community. Suppose you were asked to advise one of the retail businesses near your home, your place of work, or college, what suggestions would you make for it to differentiate itself? 4. Can a mission statement be too narrow in scope? Can it be too broad in scope? Explain your answers. 5. Choose any two supermarkets operating in your community. Compare and contrast their retail mix as they seek to satisfy the needs of their target market given their present location. What changes would you suggest to the management of these retailers as they develop…

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