MBA6011 Week 1 Discussion Latest 2019 January Question # 00597286 Subject: Education Due on: 01/28/2019 Posted On: 01/28/2019 10:05 AM Tutorials: 1 Rating: 4.6/5

MBA6011
Strategic Marketing

Week 1
Discussion

Select any one of the following starter bullet point
sections. Review the important themes within the sub questions of each bullet
point. The sub questions are designed to get you thinking about some of the
important issues. Your response should provide a succinct synthesis of the key
themes in a way that articulates a clear point, position, or conclusion
supported by research. Select a different bullet point section than what your
classmates have already posted so that we can engage several discussions on relevant
topics. If all of the bullet points have been addressed, then you may begin to
reuse the bullet points with the expectation that varied responses continue.

The American Marketing Association (AMA) defines marketing
as “the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.”

Evaluate the strengths and weaknesses of this definition.

Defend how you would change the definition.

Assess whether the definition is clear, accurate, relevant,
and current in today’s organizations and society.

Many people think of marketing as only promotion. However,
marketing is much more. A common way of understanding the essentials of
marketing is using the 4Ps model—product, price, place, and promotion.

Analyze each of the 4Ps and explain how they create value
for organizations. Remember, value creation is any type of activity or outcome
that will add to the long-term success of the organization. It is more than
simply economic value and includes enhancements such as customer good will,
employee satisfaction, supplier networks, managerial skills and experience, and
ethical or community factors. Creating value can include intangible as well as
tangible assets, such as intellectual property and a business plan.

Justify which of the four functions (4Ps) seems to provide
the most value to organizations.

Marketing has evolved into a major business function that
crosses all areas of an organization. For example, marketing may advise
production about how much of the company’s product to make and then may tell
logistics when to ship it. Accordingly, marketing influences business practices
and it may also have wider influence on society.

Assess the importance of marketing to society.

Evaluate how marketing has changed society.

Analyze how marketing has impacted today’s lifestyle.

A SWOTT analysis helps evaluate current performance and
future potential, especially in relation to competitors. Organizations use
SWOTT to assess strengths and weaknesses within the organization, threats and
opportunities from outside the organization, and trends that might have
long-term consequences for the organization and the industry as a whole.

Perform a brief SWOTT analysis on a company of your choice
as seen through the eyes of a marketing manager.

Justify some recommendations for overcoming factors that
might impede progress of the organization and for taking advantage of factors
that could benefit the organization.

Market growth is accomplished by one or more of the
following strategies: Market Penetration (increasing market share), Market
Development (new markets), Product Development (new products or services), and
Diversification (promoting new or expanding existing products to reach a new
market). Remember, the diversification strategy stands apart from the other
three strategies. The first three strategies are pursued with the same
technical, financial, and merchandising resources used for the original product
line, whereas diversification usually requires a company to acquire new skills,
new techniques, and new facilities.

Assess each of these strategies and provide an example for
each category.

Out of the four strategies, choose a strategy that best
suits growth in a company of your choice and justify how you would use this
strategy.

Respond to your peers throughout the week. Justify your
answers with examples, research, and reasoning.