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Homework answers / question archive / 1)Social Media as Part of a Marketing Plan Assume that you have become the president of the marketing club student organization on your campus

1)Social Media as Part of a Marketing Plan Assume that you have become the president of the marketing club student organization on your campus

Marketing

1)Social Media as Part of a Marketing Plan

Assume that you have become the president of the marketing club student organization on your campus. Following your election, your faculty advisor has asked you to develop a comprehensive marketing plan on how to increase membership and improve the overall experience of being in the marketing club. Because of the great potential value it adds at a small cost, you plan to integrate social media marketing ideas into different components of the marketing plan.

 

The marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of the firm's marketing strategy. Creating a marketing plan requires the input, guidance, and review of employees throughout the various departments of a firm, not just the marketing department, so it is important that every future business professional understand the plan's components. The specific format of the marketing plan differs from organization to organization, but most plans include executive summary, situation analysis, marketing strategy, financials section, and controls sections.

 

Select the most appropriate part of a marketing plan for the behaviors below.

 

1. Examining the social media pages of competing student organizations to see what they are offering their members.

 

2. Using social media to position your organization as a great place for students to interact with business leaders.

 

3. Using social media to get a sales forecast for the marketing club’s trip to an NBA game.

 

4. Using social media to get student feedback to help with any necessary contingency planning.

 

5. Analyzing the current social media profile of the marketing club and determining if it is a strength or a weakness.

 

2

Identifying Strategic Directions

 

It is important that marketers be able to identify which strategy a competitor is using so that they better understand how to position their own products and services. You will see a list of recent or potential strategic decisions made by large firms, and your job is to identify which type of strategy was used in each example.

 

While there are a variety of strategies across industries, most fall under four basic categories. Market penetration strategies emphasize selling more of existing products and services to existing customers. Product development strategies involve creating new goods or services for existing markets. Market development strategies focus on selling existing products or services to new customers. The targeted new customers could be a different gender, age group, or international market. Finally, diversification strategies involve offering new products that are unrelated to the existing products produced by the organization.

 

Select the most appropriate category of emotional intelligence for the 8 behaviors below.

 

1. Arm and Hammer selling baking soda for new purposes

 

2. Apple opening mini-stores within Target

 

3. Disney purchasing ESPN

 

4. Dominos promoting buy 1 pizza, get a second pizza half price

 

5. Burger King developing a new breakfast menu

 

6. Nintendo Wii products targeted at senior citizens as a way to stay active indoors

 

7. Ford developing the Ford Escape Hybrid SUV

 

8. Microsoft buying a snack food company

 

3

Entering International Markets

 

Entering foreign markets requires an analysis that examines each of the five major global entry strategies and their associated risks and rewards. It is important as a marketer that you understand the level of risk involved in each and also be able to identify which strategy firms are currently using.

 

Firms looking to expand globally must address how they plan to enter international markets. Once a company has developed a marketing plan that involves global expansion, they have five major strategic options for how to enter the global marketplace: exporting, licensing, franchising, joint venture, and direct investment. Exporting is selling domestically produced products to foreign markets. Licensing is a legal process in which one firm pays to use or distribute another firm's resources. Franchising is a contractual arrangement in which the franchisor provides a franchisee the right to use its name and marketing and operational support in exchange for a fee and, typically, a share of the profits. In a joint venture, a domestic firm partners with a foreign company to create a new entity. Direct ownership requires a domestic firm to actively manage a foreign company or overseas facilities.

 

Place the entry strategies (along with examples of each) in the  order from least risky to most risky.

 

4

Applying a SWOT Analysis

 

JPM Overnight Delivery is one of the premier providers of shipping and information services worldwide, competing against firms like FedEx and UPS. As it prepares its marketing plans for the years ahead, it will conduct a very thorough SWOT analysis. Your job is to look at (8) potential elements of JPM's SWOT analysis and determine which are strengths, weaknesses, opportunities, and threats. Your ability to properly categorize these elements in your own career will allow you to maximize the strengths and opportunities of your firm while also minimizing the weaknesses and threats.

 

The evaluation of a firm's strengths, weaknesses, opportunities, and threats is called a SWOT analysis. A SWOT analysis can be a valuable tool in the development of a marketing plan, but too often the SWOT analysis is not well thought out and proves to be an ineffective waste of time. Perhaps the most common mistake when conducting a SWOT analysis is the failure to separate internal issues from external issues. The strengths and the weaknesses aspects of the SWOT analysis focus on internal capabilities. The opportunities and threats aspects focus on the external environment.

 

Select the most appropriate category for the descriptors below.

 

1. Post office closings

 

2. JPM has superior information technology infrastructure

 

3. Increasing demand for international packages

 

4. JPM has an excellent workforce and human resource department

 

5. Potential global economic recession

 

6. JPM has increasing labor costs

 

7. JPM has less fuel efficient planes

 

8. Increasing fuel costs due to turmoil in the Middle East

 

5

 

Planning for Success: Ford Fusion

 

Ford marketers positioned the Fusion as a more stylish, youthful hybrid car compared to competitors like the Toyota Camry Hybrid. The Fusion's Aston Martin-like design helped build excitement among younger buyers, including many who had never purchased a Ford before. The strategy appears to be working. The improved positioning helped the Ford Fusion set record hybrid sales numbers for the company.

 

Strategic planning is the process of thoughtfully defining a firm's objectives and developing a method for achieving those objectives. Firms must continually undertake the task of strategic planning. Shifting conditions, including changing customer needs and competitive threats, ensure that what worked in the past will not always work in the future, thus requiring firms to modify their strategy. The marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of the firm's marketing strategy.

 

Click the ? button to watch the video. Then, answer the questions that follow.

All of the following are potential strengths of the Ford Fusion except

Multiple Choice

fuel efficiency.

affordability.

increased demand for hybrid cars.

 

offering multiple power train options.

design of the car.

6

Planning for Success: Ford Fusion

 

Ford marketers positioned the Fusion as a more stylish, youthful hybrid car compared to competitors like the Toyota Camry Hybrid. The Fusion's Aston Martin-like design helped build excitement among younger buyers, including many who had never purchased a Ford before. The strategy appears to be working. The improved positioning helped the Ford Fusion set record hybrid sales numbers for the company.

 

Strategic planning is the process of thoughtfully defining a firm's objectives and developing a method for achieving those objectives. Firms must continually undertake the task of strategic planning. Shifting conditions, including changing customer needs and competitive threats, ensure that what worked in the past will not always work in the future, thus requiring firms to modify their strategy. The marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of the firm's marketing strategy.

 

Click the ? button to watch the video. Then, answer the questions that follow.

 

Why could offering multiple power train options to customers become a potential weakness for Ford?

Multiple Choice

Most customers want exactly the same thing.

Only older customers care about having power train options.

It is difficult to explain the differences to customers.

 

Chevrolet does not offer any options.

There is no demand for hybrid cars.

7

Planning for Success: Ford Fusion

 

Ford marketers positioned the Fusion as a more stylish, youthful hybrid car compared to competitors like the Toyota Camry Hybrid. The Fusion's Aston Martin-like design helped build excitement among younger buyers, including many who had never purchased a Ford before. The strategy appears to be working. The improved positioning helped the Ford Fusion set record hybrid sales numbers for the company.

 

Strategic planning is the process of thoughtfully defining a firm's objectives and developing a method for achieving those objectives. Firms must continually undertake the task of strategic planning. Shifting conditions, including changing customer needs and competitive threats, ensure that what worked in the past will not always work in the future, thus requiring firms to modify their strategy. The marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of the firm's marketing strategy.

 

Click the ? button to watch the video. Then, answer the questions that follow.

 

Ford chose to advertise during specific television programs, including New Girl and Dateline NBC because those shows

Multiple Choice

have a large social media presence.

have been on television for at least 10 years.

do not run any competing advertisements.

are watched mostly by children.

are popular with the Fusion's target market.

 

8

Planning for Success: Ford Fusion

 

Ford marketers positioned the Fusion as a more stylish, youthful hybrid car compared to competitors like the Toyota Camry Hybrid. The Fusion's Aston Martin-like design helped build excitement among younger buyers, including many who had never purchased a Ford before. The strategy appears to be working. The improved positioning helped the Ford Fusion set record hybrid sales numbers for the company.

 

Strategic planning is the process of thoughtfully defining a firm's objectives and developing a method for achieving those objectives. Firms must continually undertake the task of strategic planning. Shifting conditions, including changing customer needs and competitive threats, ensure that what worked in the past will not always work in the future, thus requiring firms to modify their strategy. The marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of the firm's marketing strategy.

 

Click the ? button to watch the video. Then, answer the questions that follow.

 

Ford targeted younger consumers between the ages of 29–49 for all of the following reasons except they

Multiple Choice

are technologically savvy.

really appreciate what the Fusion has to offer.

like environmentally friendly products.

are the wealthiest potential target market.

 

represent a potentially new market for Ford.

 

9

Planning for Success: Ford Fusion

 

Ford marketers positioned the Fusion as a more stylish, youthful hybrid car compared to competitors like the Toyota Camry Hybrid. The Fusion's Aston Martin-like design helped build excitement among younger buyers, including many who had never purchased a Ford before. The strategy appears to be working. The improved positioning helped the Ford Fusion set record hybrid sales numbers for the company.

 

Strategic planning is the process of thoughtfully defining a firm's objectives and developing a method for achieving those objectives. Firms must continually undertake the task of strategic planning. Shifting conditions, including changing customer needs and competitive threats, ensure that what worked in the past will not always work in the future, thus requiring firms to modify their strategy. The marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of the firm's marketing strategy.

 

Click the ? button to watch the video. Then, answer the questions that follow.

 

The metrics that provide evidence of the marketing plan used for the Ford Fusion include all of the following except

rev: 09_09_2017_QC_CS-98997

Multiple Choice

increasing numbers of consumers buying hybrid cars in the U.S.

 

more people priced Fusion online than any other car Ford has launched.

more cars sold than in any other 3-month period.

more people built a Ford on Ford.com.

record sales numbers for the Fusion.

 

 

 

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