BUSI544 Week 3 Discussion 5

Ultimately, our goal as marketers is to attract and retain profitable customers. Consider the concept of Customer Lifetime Value in chapter 5.

1. Why are businesses so concerned with Customer Lifetime Value (CLV)? How would a company change if it totally embraced the customer equity concept and maximized CLV?
2. Based on your marketing plan choice, explain how you would go about developing a formula that captures the concept. Talk through the process; what factors must you consider in developing CLV?
3. What are some specific tactics or methods to create CLV that you may consider in your marketing plan?

 

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BUSI544 Week 2 Marketing Plan -SWOT and Mission Statement

Conduct a SWOT Analysis on your project business. Think about capabilities and core competencies for internal strengths and weaknesses, and consider all the factors in the broad macro-environment in your external analysis of opportunities and threats. A chart format is acceptable, however, be sure to indicate how changes in each particular external force will affect your business.

Review the video on Porter's Generic Strategies in the Instructional Materials for this week and discuss how you intend to create a sustainable competitive advantage.

Also, craft a mission statement for your business (refer to page 41 of the textbook for guidance).

Your final document should be 2 pages max and cite sources where necessary using APA style.

BUSI544 Week 2 Discussion 4

After viewing the CC library's Market Research video answer the following questions:

1. Explore 3 examples of how companies conduct marketing research from the video clip. Connect these examples to techniques and concepts described in Chapter 4 of our textbook. Be specific with your examples.
2. What value does the research bring to products and processes?
3. Why does an organization measure marketing productivity?
4. Refer to Table 4.3 on page 118. Which marketing metrics will you employ in your marketing plan?

BUSI544 Week 2 Discussion 3

Good marketing and its management is built on collecting information, forecasting demand, and getting feedback. Some of your best research may be informal; your peers may be part of your target market and/or may be able to provide valuable resources or feedback for your marketing plan. Based on the small business you selected last week for your marketing plan:

1. State the business and outline your potential customer base (target market), and how you will go about forecasting demand.
2. Determine what research you will need to conduct to assure that your marketing strategy is based on appropriate market segments. Search the Internet and provide an example of a marketing intelligence resource related to your marketing plan; how can it be valuable to your marketing plan?

Identify the major forces in the demographic, economic, sociocultural, natural, technological, and political-legal environment, and discuss how each one will impact your marketing strategy

BUSI544 Week 1 Marketing strategy proposal

Submit a two-page proposal for your marketing plan project by introducing your choice of small business for your marketing plan project, and the industry in which it competes. Explain why you chose it, and what your goal is for this business.

Review the Marketing Plan Expectations topic for full details. Criteria for "Selecting your Business" are provided in this topic. The topic is also located in the Start Here module in the Content area our course.

Research the industry and find 3 articles that speak to current trends in the industry; briefly summarize the main topic of each article. Define your business from both a 'product definition' and 'market definition' perspective. Refer to Table 2.2 on page 40. Essentially, this assignment will get you started with the Situation Analysis of the marketing plan.

 

BUSI544 Week 1 Discussion 2

Describe holistic marketing, in your own words. Think of a simile or metaphor that describes your vision of holistic marketing. In your description, make sure to address the dimensions associated with holistic marketing. Also consider the "new marketing realities," and how they relate to new consumer and company capabilities. Give an example not found in this week's readings, of a company that is leveraging new marketing realities.

In your opinion, why has holistic marketing replaced the more traditional marketing concepts of production, product, selling and marketing orientations? Give an example of how a holistic approach can inform a company's marketing strategy.