Class 6

Question 1

Main marketing strategies (2) by Porter

Answer 1

1. Cost leadership (cheap)
2. Differentiation (quality)

Question 2

Strategy -

Answer 2

Creation of the unique and valuable position involving a different set of activities

Question 3

Operational effectiveness vs strategy

Answer 3

competitors can quickly copy the operationally effective company, but not the strategy

Question 4

alliances (4 options)

Answer 4

1. product (2 unis)
2. promotional (Sephora nsd Dior)
3. logistical (Samokat exclusively for kebab u martina)
4. pricing (McD: burger+pepsi)

Question 5

How is strategic fit achieved? (bt market and organisation)

Answer 5

by constantly monitoring environment

Question 6

Marketing plan -

Answer 6

a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing goals.

Question 7

structure of the marketing plan:

Answer 7

1. summary
2. situation analysis (Swot, 5 forces)
3. Marketing strategy
4. Marketing tactics (marketing mix)
5. Financial projections (forecasted revenue)
6. Control

Question 8

buyer persona

Answer 8

semi-fictional representation of the ideal customer based on market research