What is Strategic Management? Define and explain with your own words may cite examples to support the answer. Illustrate the level of strategic decision and identify who among the organization belongs to every level.
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- Discuss, How can organizations effectively manage conflicting objectives and interests during the strategic planning process?“Marketing perspective lie at the heart of strategic decision making, whether at the corporate, business unit, or product market levels.’ Reflect on the statement giving suitable examples.Explain the elements of strategic thinking (at least 4 elements) and their importance in a business decision and management to ensure effective organizations to sustain their performance and survive for long term.
- 2-10. What is the implementation phase of the strategic marketing process?The use of management science in "market analysis". List three positive and negative outcomes from this application of management science.How do managers develop strategic plans, and what factors do they consider when evaluating the external and internal environment of the organization? Discuss the key components of a strategic plan, and describe the potential benefits and drawbacks of different strategic planning approaches.
- Explain the levels of involvement in strategic management and the role of staff at each levelExplain how you can design a new Strategic planning for your company (Your company is a new company in E-commerce.Define strategic planning and briefly outline the four processes that guide managers and the organization through the process. Examine the function of marketing in this process.
- Consider the Scenario below: A national property/casualty insurer distributes its personal and small commercial productsthrough independent agents. A study was conducted as a part of reevaluation of its strategies,designed to determine:• Whether its market share might be increased by direct marketing to some households.• Whether doing so would conflict with agent activities.• Marketing themes and product features that could be used to differentiate it indifferent market segments.• The potential profitability of different segments.Attitudinal, behavioral, and demographic data were gathered using a mail panel survey of2000 U.S. households that own auto insurance. Geodemographic and credit informationsupplemented the survey responses.Segments Identified: The study identified five segments, each making up 17% to 22% of themarket.• "Non-Traditionals" were most interested in using the Internet and/or buying insuranceat work.• Direct Buyers were more interested than others were in buying via…Briefly describe the THREE basic elements of strategic management?2. Pick the Marketing Management Philosophies from the list below. Select one: a. Product Orientation, Sales Orientation and Promotion Orientation b. Product Orientation, Sales Orientation, Market Orientation, Societal Orientation c. Product Orientation, Place Orientation, Price Orientation, Promotion Orientation d. Product Orientation, Sales Orientation, Market Orientation3.Which of the following best defines Customer Relationship Management (CRM). Select one: a. A collaboration of managers working together to reach a common goal of maximizing employee satisfaction. b. A company-wide business strategy designed to optimize profitability, revenue and customer satisfaction by focusing on highly defined and precise customer groups. c. Managing members of an organization coming together to design a marketing plan. d. None of these