Week 7 Marketing Plan

Question 1

Components of a linear marketing plan

Answer 1

1 mission statement
2 situational analysis (macro environment, SWOT, pest)
3 marketing strategy (segmentation, targeting, positioning)
4 marketing tactics and budgets
5 implantation and monitoring.

Question 2

Mission statements

Answer 2

Social value that transcends economic value. Physiological and emotional logic that drives an organization.

Question 3

Four components of missions

Answer 3

Purpose
Core values
Primary goals
Vision

Question 4

Porters five forces

Answer 4

Threat of entry of new competitors
Threat of substitutes
Bargaining powers of buyers
Bargaining powers of suppliers
The degree of rivalry between existing competitors

Question 5

Problems marketing planning

Answer 5

Weak support from top management
Lack of information
Ambiguous purpose
Expectations of instant results
Complexity

Question 6

Characteristics of creative people

Answer 6

Lack of fear concerning value
Independent thinking
Risk taking
Controlling
Self belief

Question 7

Fillies model should work if…

Answer 7

Opportunity propensity
Creative propensity
Effective use of personal social networks
Stimulating word of mouth marketing

Question 8

Marketing planning in the arts is complicated by:

Answer 8

1 the quality is subjective and difficult to discern in advance, they are experienced goods. Quality also deteriorate or improve fast and shell life is non existent to minimal.
2 to build loyalty and trust consistent brand experience is needed
3 mission orientated organizations have competing imperatives