4. Should a company’s strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it makes whether a company has a sustainable competitive advantage or not? 5.
Scrubbing Bubbles® Executive Summary By understanding the brand’s current position in the marketplace, its strengths, its weaknesses and its opportunities for improvement, we has developed a strategic marketing plan that fits perfectly with SC Johnson’s ideals as a company. The research first considers market forces affecting the brand and its competitors and then identifies key success factors for the industry. Each of Scrubbing Bubbles’ top competitors is examined so that the brand’s relative market position becomes clear. Once an understanding of the industry and the competition has been demonstrated, the focus turns to SC Johnson as a company. This internal analysis considers how SC Johnson’s identity and reputation affects the brand image of Scrubbing Bubbles.
Running head: SWOT SWOT Daniel Goodman Cardinal Stritch University Instructor: Walter Wochos MGT 426: Marketing March, 14 2012 One of the components of strategic marketing planning requires the creation of a series of strategic alternatives, or choices of future strategies to pursue, given the company's internal strengths and weaknesses and its external opportunities and threats. The comparison of strengths, weaknesses, opportunities, and threats is normally referred to as a SWOT analysis. Strength: Strength is an inherent capability of the organization which it can use to gain strategic advantage over its competitors. Weakness: A weakness is an inherent limitation or constraint of the organization which creates strategic disadvantage to it. Opportunity: An opportunity is a favorable condition in the organizations environment which enables it to strengthen its position.
• A differentiator gains a competitive advantage because it has the ability to satisfy customers’ needs in a way that its competitors cannot, which allows it to charge a premium price for its product. • Premium prices → increased revenue → superior profitability • A differentiator invests its resources to gain a competitive advantage from superior innovation, excellent quality, and responsiveness to customer needs • A product’s appeal to customers’ psychological desires is a source of differentiation. ▫ Example? 13 Differentiation • Generally, a differentiator chooses to divide its market into many segments and offer different products in each segment • A differentiated company concentrates on developing distinctive competencies in the functions that provide competitive advantage ▫ These are still expensive! • A differentiator must control its cost structure to ensure the price of its products does not exceed the price customers are willing to pay for them • When differentiation stems from the design or physical features of the product, differentiators are at great risk of being imitated ▫ Example?
[pic] True False 6. Given the following data, total product cost per unit under absorption costing will be greater than total product cost per unit under variable costing. [pic] True False 7. A budget can be an effective means of communicating management's plans to the employees of a business. True False 8.
MKT 421 Complete Class Materials https://hwguiders.com/downloads/mkt-421-complete-class-materials MKT 421 Complete Class Materials MKT 421 Marketing Week 1 DQ 1 What is the definition of marketing? What are the benefits and drawbacks of incorporating marketing into the sales function of an organization? Do you think that marketing should be included as part of the sales organization within a company? Explain why or why not. MKT 421 Marketing Week 1 DQ 2 Select an organization with which you are familiar.
MGT 498 Final Exam Latest 1. According to Porter, the corporation is most concerned with • the aggregate level of demand for a product line • the amount of pressure from the societal environment • the intensity of competition within its industry • a market's position on its life cycle 2. Which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units? • Corporate • Divisional • Functional • Organizational 3. Which is the MOST commonly used measure of corporate performance (in terms of profit)?
Regardless the services or product an organization may have, strategic planning is crucial in today’s business environment. Now days, organizations are required to establish systematic ways to assess their strengths and weaknesses and study environmental impacts. In addition, companies must identify areas of opportunities to extend their competitive advantage. In short, an organization’s strategic management process approach is defined as the steps it takes to ensure that the reduction of value creation costs and value creation performance are formulated in ways that consumers are willing to pay more for the product than the cost to produce it. The strategic management process is a nine-step progression that encompasses the identification of the organization’s current mission, objectives, strategies, environmental analysis, SWOT analysis, strategy formulation and implementation, and lastly, the evaluation of results.
Chapter 01 What Is Organizational Behavior? True / False Questions 1. Strategic management focuses on the product choices and industry characteristics that affect an organization's profitability. True False 2. The theories and concepts found in OB are drawn from two disciplines: human resources management and strategic management.
Project Management, 2e (Pinto) Chapter 2 The Organizational Context: Strategy, Structure, and Culture 2.1 True/False 1) The same project managed in the same fashion may succeed in one organization but fail in another. Answer: TRUE Diff: 2 Section: 2.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Most companies are well suited to allow for successful completion of projects in conjunction with other on-going corporate activities. Answer: FALSE Diff: 1 Section: 2.0 Introduction Skill: Factual AACSB Tag: Reflective 3) Developing vision and mission statements is an important tactical step in project management. Answer: FALSE Diff: 2 Section: 2.1 Projects and Organizational Strategy Skill: Definition AACSB Tag: Reflective 4) One element of strategic management is cross-functional decision-making. Answer: FALSE Diff: 1 Section: 2.1 Projects and Organizational Strategy Skill: Definition AACSB Tag: Reflective 5) Strategy, goals, and programs support the organizational mission.