Number of Words : 2739
Number of References : 12
Answer the following questions based on the knowledge you have gained from this module. You must provide retail related examples to support your explanation.
1. Based on your experience in retail industry what decisions go into the development of a strategic marketing program for a particular good or service and how can those decisions be summarized in an action plan?
2. Regardless of their participation or influence in formulating corporate and business level strategies, marketing managers’ freedom of action is ultimately constrained by those higher-level strategies. The objectives, strategies, and action plans for a specific product-market are but one part of a hierarchy of strategies within the firm. What role does a marketing manager play in formulating strategies at the corporate and divisional or business unit level?
3. Not all purchase decisions are equally important or psychologically involved. You must discuss if the consumers’ mental processes are different when they purchase high involvement goods or services than when they buy low involvement products. If so, what are the implications of those decision making differences for the marketing manager charged with developing the strategic marketing plan for a particular product or service?
4. Positioning is basically concerned with differentiation. Discuss how should a business position its product offering-whether goods or services- so customers in the target market perceive the offering as providing the benefits they seek, thereby giving the product an advantage over current and potential future competitors?
5. Imagine that you are a marketing manager for your company. Explain how do you deal with the following issues.
i. Does your company need a new economy strategy?
ii. Do the technological advances of the new economy represent threats or opportunities?
iii. What marketing roles can the internet and other recent and future technological developments play, and which of these should be pursued?
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AKey : MSM-18684