week 4

Question 2

marketing strateefy

Answer 2

refers to an org or perosns plan of action created to sell or advertrise a product or service

fundamentall to overall stratefy

designed to guide mkting effrts , tactics and resources in a coordinated and cohesive manner

Question 3

strategic plannign

Answer 3

proicess of developing and maintaing a strategic it between org oals and caabitlies and its changign marekt opportuntiies

Question 4

process of oprpotate plannign 5 steps

Answer 4

copmany missio

business obj and goals

busienss protfolio

marketing an other functional strategies

Question 5

what are goals and cpaabitlies

Answer 5

what we want too do

what we can do

Question 6

the companies missinon dfines

Answer 6

waht we want to achieve

Question 7

what is mission statement

Answer 7

statement of org purpise - what it wants to accomplish in teh larger enviornemtn

Question 8

busienss objective and goals should be

Answer 8

SMART

specific

measurable

achievable

realistic

time based

Question 9

what are th e4 areas business obj and goals can be

Answer 9

economic

human

organic - internal pf a business

social and environmental

Question 10

give example of econ goals

Answer 10

achieve slaes of 250k per quarter

Question 11

give eample of a human bs obj/gal

Answer 11

maintain staff retention rate of no less than 90% by end of 2024

Question 12

organic bs objective goals

Answer 12

increase list growth rate 155 in 2024

Question 13

social and environmewntal business goal

Answer 13

become carbon negative by 2030

Question 14

measurable meand

Answer 14

kpis

Question 15

business portfolio

Answer 15

consists of products and buisiness that make up a company - strategic business units - sbus

Question 16

what is marekt rowth and market share

Answer 16

what is the market like overall and what is the growth of product within this

Question 17

what is another way to look at growth

Answer 17

look at revenue structure of compnay w/in own revenye structure may see growth of product through rev its bringing in

Question 18

high marekt growth high market share

Answer 18

star

Question 19

high amrekt share low market growth

Answer 19

cash cow

Question 20

high market growth low marekt shRE

Answer 20

QUESTION MARJ

Question 21

loow market growth low market share

Answer 21

dog/pet

Question 22

what do we do w start and why

Answer 22

invest into them the most as market leeader and got huge potential for growth

Question 23

why would a start be doing ell - 3 things

Answer 23

product doing particualtly well

fast growing market

product bring smore and mroe revennue

Question 24

what is another way to identify a star

Answer 24

see whats getting invste din mst compared to othr product

Question 25

what is the rule of thumb for low mkt share

Answer 25

anything less than 50% of the marekt leader

Question 26

which has a low maeket share relative to othrs and is in a high growth market

Answer 26

question mark

Question 27

questino amrke got ptoetnial to become what 2 things

Answer 27

star

do

Question 28

how do we deal w question marks

Answer 28

rebrnannd or invest in r and d and marekting to push it to be a star

Question 29

what has low mkt growth and high mkt share

Answer 29

Cash cow

Question 30

what dont we need to do w cows and why

Answer 30

invest in them as mkt share stopped growing

Question 31

what do we do w cows ansd why

Answer 31

use money to invest in stars/? as it brings in lots of revenue into company

Question 32

what has low market growth and market share

Answer 32

dog

Question 33

why may a dog have low maket share and growth

Answer 33

unpoula product
nto ding wellk in mkt

Question 34

what do we do w dogs

Answer 34

phase em out

Question 35

how should you looka t rpoduct

Answer 35

compared to other e,,g googl ads is a cash cow copmared to googels other products