1- Do some research, and write up an example of how IoT might provide a business with a competitive advantage and why you think this.
2- Provide one example of how information technology has created an ethical dilemma that would not have existed before the advent of Information Technology (IT). Consider things such as: How has this created a dilemma? Is the negative impact worth the positive impact? For who?
Strategic Marketing Plan Part A: Environmental Analysis and SWOT Analysis
(Due in Wk 2) Company Description
Describe the company you are designing the plan for. Include:
Mission Statement
Vision Statement
Product line description
Company information, such as the size of the company
Environmental Analysis
Analyze the forces that affect the company and marketing efforts. Competitive Forces
Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors. Economic Forces
Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers. Political Forces
Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county. Legal, Regulatory, and Ethical Issues
Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail. Technological Forces
Analyze whether your company will be affected by emerging technologies or trends in hardware and software industries Social Forces
Analyze social trends and how they may affect your business. Considerations may include if your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in the way things are done or changing social values. Current Target Markets
Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets. Review Current Marketing
Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing. SWOT Analysis
Assess your company’s strengths, weaknesses, threats, opportunities, and then evaluate how to address these in your marketing plan. Strengths
Assess your company’s competitive advantage. Consider core competencies, assets, location, practices, etc. that are distinct in the way the organization meets the needs of its customers. Weaknesses
Assess what limits the company may have in its current marketing strategy. Consider if there is a company weakness that needs to be addressed through Public Relations or Marketing. Opportunities
Assess the opportunities you see based on trends or environmental conditions. Threats
Assess the threats or limitations that may interfere with the company’s ability to meet its objectives or interfere with marketing plans. Strengths to Opportunities & Converting Weaknesses and Threats
Convert weaknesses and threats to strengths, then strengths to opportunities in the marketing plan. Consider the implications for addressing supplier relationships, implementing new technologies, or changing the product line or addressing new markets. Marketing Objectives
Establish marketing objectives based on the results from the SWOT analysis. Marketing objectives must align with corporate objectives, modified by the company’s resources. Objectives should include a date for the completion of the objective and the way in which success will be measured. For example: The company will expand its marketing efforts to include a new market segment of 21- to 29-year-olds. This will entail the development of a customized product by June 2020 that will address the specific psychographic and technological needs of this age group. This strategy is expected to attain a 20% growth in overall sales by January 2020. Customer loyalty (willingness to recommend the product) will increase by 30%. Part B: Marketing Data Analysis
(Due in Wk 4) Internal Data
Evaluate internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Example: Sales data
Monthly sales by specific product
Average sales that month in US dollars for each of 10 products. Data can be segmented by business and consumer markets.
Can be used for trend analysis, projections, and to measure effectiveness of promotions.
Secondary Data
Evaluate secondary data sources and the specific information you need from each source. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Example: U.S. Census Bureau
Income over the last 4 years by family structure
Household structures with the highest income capacity
Market Share Analysis Customer Segments
Primary Data
Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Example: Focus group
Product usage, motives, identify group level satisfaction, decision process, etc.
Qualitative
Identify different reactions of market segments to product. Identify marketing opportunities, product/service flaws and opportunities
Customer Relationship Management
Establish customer touchpoints and develop appropriate CRM events for customer acquisition, retention, and profitability. Insert or remove rows as needed.
CRM Touchpoint
Purpose & CRM Objective
Data
Potential Data Usage
Example: Customer profile information on website
Starts the account for visitors: name, geography, email address (Customer acquisition)
Presale: geographic location; customer id, source of reference Email address Post sales: address, product purchased, quantity, price.
Track new and returning customer counts, total period purchases by customer ID, geographic sales data. Can be used for loyalty rewards, retention, and targeted marketing.
Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring
(Due in Wk 6) New Customer Segments
Determine any new customer segments for your strategy and describe how you will provide value to each segment.Marketing Mix for New Customer Segments
Determine adaptions for each new customer segment.
Products
Price
Distribution
Traditional Promotion
Online Promotion
Marketing Implementation
Create the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions. Marketing Communication Channels
Evaluate the marketing communication channels you will use to reach selected audiences. Include Internet and traditional communication channels to convey key messages. Describe the advantages and disadvantages of each channel you select.
Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.
Action
Date for Completion
Person/Role Responsible
Standard/Metric
Example: Design flyer for direct mail campaign
1/1/2021
J. Smith, graphic designer
Approval by senior marketing team and legal
Monitoring
Develop the measurement to identify how you know you have been successful for each strategic action. Specify the measures to track performance against goals. Identify standard reports from your online and traditional marketing efforts. Insert or remove rows as needed.
Action
Target
Person Responsible
Inter-measurement
Example: Direct mail flyer
1100 new inquiries
Western regional manager
500 new inquiries first month of campaign
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Assignment details: A company’s resources and capabilities are integral to achieving sustainable competitive advantage. Refer to your Thompson (2022) readings and the required videos. For this assignment, consider a company you worked for or one that you know well. Develop your analysis by responding to the following questions:
What are the company’s most important resources and why?
What are the company’s most important capabilities and why?
How do the company’s most important resources and capabilities create lasting competitive advantage?
Relate your response to each of the above to our coursework (Thompson text) from this week.
Submission Details:
Your analysis must be driven by facts, research, and data.
Your analysis should be between 1000 and 1500 words.
Incorporate a minimum of at least our course text and one non-course scholarly/peer reviewed source in your paper. All written assignments must include a coverage page, introductory and concluding paragraphs, reference page, double-spaced and proper in-text citations using APA guidelines.
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Strategy is an organization’s action plan to achieve its mission, whether that is flying airplanes or building them. Firms have several different ways to achieve their mission, and these strategic concepts can provide an advantage over your competitors.
Based on your readings and resource review, you should be able to define the three strategic approaches (differentiation, cost leadership, and response) to competitive advantages. With these approaches in mind, identify a company and determine which approaches they use. While some companies may use a combination of the approaches, focus your paper on the one key approach used by the firm.
Explain, briefly, the three strategic approaches to competitive advantages.
Provide an overview of your selected company.
Discuss which strategic approach your selected company uses and why they use that approach.
Include a title and reference page and at least three references.
Save your assignment using a naming convention that includes your first and last name and the activity number (or description). Do not add punctuation or special characters.
Your paper will automatically be evaluated through Turnitin when you submit your assignment in this activity. Turnitin is a service that checks your work for improper citation or potential plagiarism by comparing it against a database of web pages, student papers, and articles from academic books and publications. Ensure that your work is entirely your own and that you have not plagiarized any material! “PLG1” in the activity name indicates a Turnitin assignment.
Review the Writing Rubric for detailed grading criteria
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Known by his harsh comments and competitive edge, CEO Jeff Bezos, coined the term “purposeful Darwinism” to explain a process in which employees are ranked and debated in efforts to weed out inefficient or weak workers. His leadership fosters a low-trust work environment for executives, managers, and all levels of employees. However, it is still one of the fastest-growing companies in the United States.
In a 2 page paper, discuss if “purposeful Darwinism” is an ethical approach to hiring and promotion? Why or why not?
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Euchner & Ganguly (2014) notes the competitive environment is forever changing, business models require constant vigilance; they must be adapted and strengthened over time as the competitive environment evolves. Because innovation is constantly adapting, changing and developing operational strategies must be on point for them to succeed accordingly. Business models and competitors are constantly changing, advancing, and finding new innovative ways to compete. Again business models need to stay innovative, remain flexible and take risks when approaching new strategies or operational functions that will benefit their organization. When businesses focus on changing operational strategy they must consider the three basic good business models, Competitive advantage, Profit Zone, and Economic Leverage, Euchner & Ganguly (2014). These business models can be used as a guide to businesses and attract customers, allow flexible pricing, points of advantage, and ensure that the business can deliver a profit. When conducting operational strategies there are risks factors to take consider as with any business. There are two primary risk factors that are out of the control of the innovator, which Adner refers to as ecosystem risks, Euchner & Ganguly (2014). One is the co-innovation risk, these are the uncertainties related to innovations that others create for the business which enables technology or a new process, and there may be risk involved during the implementation process, Euchner & Ganguly (2014).
The second is the adoption-chain risk, these are the process of building the alignment among stakeholders required to bring innovation to the market, Euchner & Ganguly (2014).
In summary, businesses need to see what works best for their organization. They need to take into account the risk factors, how they will adapt new innovative ways and ideas into their organization to receive the maximum benefits and profits, meanwhile reducing labor and costs. They also, need to conduct research on other organizations and see what has worked for them and where they encountered challenges and apply the small wins to their organization and learn from others’ failures. Since each business is unique, there are many variables and challenges that businesses may encounter during operational strategy changes and challenges. However, setting guidelines and goals will certainly be beneficial for businesses to succeed.
Working in city government, we experienced innovative changes that benefited the organization. For instance, we changed our software application to reflect the needs of our department. During the process, we were allowed to voice our opinions, concerns, ideas, suggestions and they were taken into consideration. At first, there were a few glitches in the software, but eventually, things ironed out and the new software was a big improvement compared to the outdated programs we used.
Reference
Jim Euchner & Abhijit Ganguly (2014) Business Model Innovation in Practice,
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Write a 500-750 word paper researching a process methodology as related to project management (e.g., Agile Project Management, SDLC, Prince2). Include the following in your paper:
Define the term process methodology.
Briefly provide a high-level overview of the business that shows a competitive strategy towards its value chain. Then, discuss the project management process methodology that helps to support the organization’s value chain along with the outcomes of the process and associated benefits achieved by the organization.
Provide an explanation of the relationship between project management process methodology and information systems from that organization.
Reference your research on project management process methodology and the business researched.
Use a graphic to illustrate the project management process methodology.
Provide at least five references to scholarly resources.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
You are required to submit this assignment to LopesWrite
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Throughout this course, you have learned about the elements of a marketing plan. This assignment will provide you with the opportunity to research the marketing methodology of an existing publicly traded company; using a publicly traded company will provide you with access to a greater amount of information to complete this assignment. As you research this company, apply the theoretical learning from this course.
Include the sections below in your marketing plan.
Introduction: Include a brief introduction of the company.
Competitive Analysis: Who are your company’s competitors, and how is each differentiated? Identify two or three strengths and two or three weaknesses of your company compared to a minimum of two of your company’s competitors.
Marketing Strategies: What are the marketing strategies used by your company in the management of the global customer brand? Use the four Ps in your analysis, which are listed below.
Competitive Advantage: Identify whether your company has a competitive advantage in each of the areas of the four Ps. Remember that your company could have a competitive advantage in one area and not in another. Include supporting rationale.
Your submission must be in essay format and use subheadings. You need to include a minimum of five scholarly sources (no blogs, no Wikipedia), and three must be peer-reviewed sources. Your scholarly activity must be at least six pages in length, not counting the title page and references page. APA format is required.
The Strategic Leadership of the Company The strategy of Verizon Wireless is to roll out a 5G wireless to drive revenue performance as per the set goals. This new drive, dubbed by the mainstream media as an ambitious strategy called for a few changes in the company’s execution plan, precisely laying emphasis on individual leader contribution towards actualizing the set goals and objectives. Conspicuous among the introduced changes include restructuring that has seen the company’s service architectural backbone split into three divisions: the Consumer Group, the Business Group, and Verizon Media. Significant about the new structure is a clear reflection of a strategy that starts with company customers built by transformational top-down model company strategy aligned leadership and punctuated by a visionary executive accustomed to prompt action to opening opportunity (Yang, Trimi & Lee, 2016). Further to the effect, all middle-level leaders such as departmental managers are highly invigorated and focused on influencing their respective departmental workers in contributing to the realization of the company strategy, 5G wireless distribution. Competitive Advantage Scanning through the telecommunication industry, Verizon Wireless is one of the pioneer companies with well-established infrastructure suiting it to provide quality service that its name has become accustomed to. On the other hand, Verizon’s intensive, well thought out growth strategies have not only shaped the overall industry approach but have also enabled it to cut out itself from the mainstream queue of other companies and be the leader in telecommunication that it is today. For instance, the company utilizes its aggressive growth strategy and external economies of scale to penetrate new markets and acquire local firms with already existing client networks and necessary infrastructure to pedal on from. Also worth noting is the brand quality