Answered: Would a very small enterprise, such as…

Would a very small enterprise, such as a neighborhood barbecue stand, benefit from having a marketing plan? Why or why not?

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

See similar textbooks

Related questions

Q: What is a marketing manager? What are the skills and talent needed to become one?

A: Marketing is the most important field of management. Therefore it is required for businesses to hire…

Q: Write the importance of marketing and how it helps running business to survive and to expand. Use…

A: Marketing is an organised process of informing the market about the product or service of the…

Q: What is the main goal of a company that serves a specific community need?

A: There are different motives for running a business enterprise. An organization is an entity that is…

Q: Why is it important to determine who your target market is?

A: With the growing industries or in other words the ever-rising trend of globalization and thus…

Q: The building blocks around marketing principles are price, place, product, promotion, process,…

A: Introduction:- Marketing principles are the foundation of all marketing activities. The basic…

Q: An important part of every company's marketing strategy is enhancing and improving customer…

A: Customer retention management is the act of keeping in touch with existing customers in order to…

Q: What is Marketing? Why is it important in the firm or business

A: Every organisation create products and services which cater to the needs of customers. These…

Q: arketing is the job of everyone in a business organization,not just the marketing department.

A: Yes, marketing is your job! And my job! Marketing is the responsibility of every employee in an…

Q: Any company's marketing plan must include improving and maximizing customer loyalty and retention.…

A: Two of the most important strategies that a company always adopts are customer loyalty and customer…

Q: Do you agree that the goal of marketing can be simplified down to just three words get build and…

A: Marketing mix give the foundation framework for developing strategies for business and value for…

Q: Discuss these three objectives: obtaining an MBA in Marketing Becoming a professional in the…

A: Creating and adapting to the best work of professional goals is what career planning is about. It…

Q: important

A: Talking about sales then, it is the process of selling products to the end customers. We sell…

Q: Which is the easiest to do in a marketing plan? Is it an annual, quarterly, or monthly sales plan?

A: The easiest to do in a marketing plan is typically a monthly sales plan, rather than an annual or…

Q: Faced with a selling situation, do you have a sales orientation or a customer orientation?

A: There are many approaches of selling but it need context to be known before utilising any approach

Q: n a typical business, who do you think should be responsible for putting together the marketing…

A: A marketing plan is a document and a blueprint that outlines an organization's or a company's…

Q: Would there be instances when creating a marketing plan would be more of a liability than an asset?…

A: A marketing strategy is a proper business document that serves as a roadmap or guideline for a…

Q: Any company's marketing plan must include improving and maximizing customer loyalty and retention.…

A: A marketing plan is a valuable strategy that helps any organization for selling or marketing its…

Q: Why would a marketing professional benefit from a study of art, sociology, and religion?

A: Marketing describes the activities a company carries out to promote the acquisition or sale of a…

Q: what is the new news about business today that is connected to marketing?

A: Staying up to date on the latest marketing news and trends is critical for businesses to remain…

Q: Is Marketing important in the success of a brand or product in the market? Why? by your own word

A: Marketing strategy refers to the technique or the way through a company is successfully able to…

Q: Why would one be interested in a career in marketing?

A: Marketing is tied in with discovering the most ideal way of drawing in with individuals. Through a…

Q: this is from "Marketing Management" Subject a) In your opinion, what is marketing? b) What are the…

A: Marketing is the fulfillment of the needs of consumers through the right product and right price,…

Q: How concentrated marketing helps a business

A: Concept Introduction : A company's marketing efforts are concentrated through the adoption of the…

Q: How does marketing offer outstanding career opportunities?

A: Marketing department is responsible for bringing business to the firm. The two primary departments…

Q: What are the potential risks if the marketing mix is not considered?

A: Risks are present everywhere. Some of the risks can be predicted and can be avoided. But some risks…

Q: QUESTION 19 Part of the marketing management process includes planning, evaluating and controlling…

A: Introduction : Marketing Management process refers to the identification of customers needs, or…

Q: Who is responsible for accomplishing each aspect of implementing the marketing plan?

A: Marketing Planning Process can be defined as the process of formulation of strategies to promote the…

Q: marketing plan? Who should develop it? How does it help the new small business owner

A: Every company will create various objectives and a plan to get there. This plan will help the…

Q: The marketing mix refers to the set of tactical tools or elements that a company uses to promote its…

A: Product, pricing, placement, and promotion are the four pillars of a successful marketing mix,…

Q: What is marketing return on investment?

A: Return on marketing investment is the commitment to benefit from showcasing, partitioned by the…

Q: Two stages of effective marketing management processes are strategic planning and Operational…

A: Disclaimer: The question is answered from a general perspective. Strategic planning can be defined…

Q: Enlist the marketing management functions, including the elements of a marketing plan ?

A: Advertising, selling, and delivering products to customers are examples of marketing operations, as…

Q: How do you calculate the return on marketing investment (rOMI)? How can a business benefit from…

A: The return on marketing investment is calculated as follows-

Q: How can the proper information help in a good marketing mix?

A: There are different marketing organizations and business organizations that are active these days.…

Q: entrepreneur?

A: A promoting plan is the publicizing methodology that a business will carry out to sell its item or…

Question

Would a very small enterprise, such as a neighborhood barbecue stand, benefit from having a marketing plan? Why or why not?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Reflect on what you have learned in the book ,this is marketing ,a book by Seth Godin. Which concepts stand out in your mind? Which marketing ideas have become important to you? Pick three marketing concepts, ideas, or guidelines that made an impact on you, describe them, and discuss how you plan to apply them in your marketing career. What can you do to make them memorable for later career situations in which you might apply them?
What values, beliefs, goals, norms, and rituals are central to your marketing plan?
Which among the marketing mix is the most significant part of the business plan? Why?
What are the essentials of a good marketing system ?
What is strategic marketing? How can companies use relationship marketing as a competitive advantage?
What do you think are the best strategies in marketing the company's products and/or services? Explain why.
If you were applying for a marketing job what are your unique selling propositions?
How do you calculate return on marketing investment (rOMI)? How does seeing marketing as an investment rather than a cost impact a business?
Why are the four P's of the marketing mix (product,price,promotion and place) considered to be essential for doing business? Illustrate your answer with relevant examples of your choice
What is the purpose of a marketing plan for a company or a product/service? What do you think about each step of the marketing plan? Select one of the steps of the marketing plan and provide your explanation.
Enhancing and optimizing customer retention and loyalty is an important part of any marketing plan. Explain why this is the case, and give two examples of businesses that use this strategy?
What is the significance of setting clear marketing growth goals and objectives?