Questions and Answers of Essentials Of Business And Economics

+5 Illustrate how the TOWS matrix might be used in an organization of your choice. Evaluate its usefulness in the context of the strategic planning process.
+idea of planning ahead still relevant? Why or why not?
+4 Given the nature of a rapidly changing environment where new developments take place very rapidly and firms need to react rapidly, is the
+ Why do you think it has come into fashion at the present time?
+3 Is relationship marketing really any different to any other form of marketing?
+• Where are we now?
+ How might it develop and impact on our lives in the next 30 years?
+5 What do you see as the future of e-marketing?
+vehicle for marketing goods and services.
+4 Discuss the advantages and disadvantages of the World Wide Web as a
+consideration when deciding how much to adapt their marketing mix to local conditions?
+3 What should firms that operate in one or more foreign market take into
+longer national markets of any significance. To what extent would you agree or disagree with this point of view? Explain.
+2 Globalization has changed the whole nature of marketing. There are no
+1 The idea of international marketing is an outmoded concept. All markets are international in nature, and the concept of international marketing is spurious. Discuss.
+b mutually exclusive as promotional tools?
+5 Three important marketing communication tools are advertising, selling and sales promotion. To what extent are they:a complementary?
+distortion which enters into both the message and the channel?
+3 How might the accuracy of communication be influenced by noise or
+Discuss the factors that influence choice of positioning strategy.
+How is product or service positioning accomplished?
+3 What do you understand by a competitive positioning strategy?
+ What do you understand by ‘segment strategies’, and how do these influence a firm’s approach to market segmentation?
+2 What factors impact upon a firm’s selection of market segments?
+Why should some bases of segmentation be more suitable for some products than others?
+1 What benefits are to be gained from employing market segmentation as opposed to treating the market as a single entity?
+ How might the advantages best be sought in the 21st century?
+5 What are the benefits and disadvantages of vertical integration?
+To what extent would you agree with this point of view?
+4 Diversification is simply a form of horizontal integration.
+of failure in introducing products to the market be minimized?
+ What is a new product success? How can risk
+3 What is a new product?
+approaches which make up the Ansoff matrix along with integrative strategies? In particular, when is each one most appropriate?
+2 In what order should an organization consider the various strategic
+organizations promote and otherwise market themselves?
+4 How might ethical branding issues be featured in the way in which
+how has this affected producers’ brand strategy?
+3 Given the increasing power of retailers in consumer goods marketing,
+e online monthly sales of a vast range of non-food items.f daily sales of fish at a supermarket.
+c long range sales of existing commercial aircraft.d a range of fashion clothes in a chain of boutique outlets.
+a current pharmaceutical medicines supplied to be supplied to hospitals and pharmacists.b yearly sales of agricultural tractors.
+5 Suggest how a company might forecast company sales for the following products:
+how the ‘five stages in the buying process’ model is relevant to these situations.
+2 Many consumer-purchasing situations involve complex buying decisions. Describe some situations which illustrate this point and explain
+understand the dynamics of the market. Indicate how these objectives might be achieved.
+1 One of the primary objectives of a market analysis is to assess its prospects for participants. Another key purpose of market analysis is to
+when developing marketing strategies? Illustrate your answer with reference to real life examples.
+5 What kinds of ecological issues should organizations take into account
+ How does this affect what firms can and cannot do?
+4 How does society try to cope with deviant behaviour in the business environment?
+and discuss the various strategies which might be pursued by each one of the four categories.
+5 Differentiate between:a market leader b market challenger c market follower d market nicher
+no competitive advantage. How can this point of view be reconciled with the success of those firms which apply both of these strategic thrusts?
+and differentiation implies that a company is ‘stuck in the middle’, with
+4 Porter argues that failure to make the choice between cost leadership
+3 Discuss the usefulness of Porter’s five forces model in helping an organization to develop its business strategies.
+2 Discuss the relationship of the industry life cycle to the concept of the strategic window.
+2 are produced by industries earning high profits.
+1 are subject to trends improving their price-performance trade-off with the industry’s product or
+5 How might you apply ‘value chain analysis’ in each of the following types of organization?a A university b A hospital
+Examine each aspect of self-appraisal in detail.
+4 How would the various kinds of self-appraisal that a firm could undertake be used in the course of formulating strategies?
+How useful are they to marketers?
+3 What are the limitations of portfolio matrices such as these described in the chapter?
+with elements at different stages in the product life cycle to ensure long-term survival and growth.
+2 Explain why firms need to have a balanced product/service portfolio
=+ How might an organization take advantage of the situation they present?
=+5 How might one identify ‘overlapping strategic windows’?
=+4 What kind of threats or opportunities might be presented to a supermarket today by the opening and closing of strategic windows?
=+ Under what circumstances might each of the methods indicated in the text be used?
=+3 What do you understand by the strategic process?
=+2 Discuss how an organization should set about identifying possible competitive strategies. How might various stakeholder interests impinge on this process?
=+How useful is such a perspective when marketing is viewed within the framework offered by strategic windows?
=+1 Some people view marketing in terms of a decision-making paradigm.
=+Strategic choice: Which alternative best relates the company’s situation to external opportunities and threats?
=+Strategic alternatives: What are the strategic alternatives, given this analysis? (Is the current strategy one of these?)
=+How does the strategy meet the tests indicated here?
=+Tests of assumptions and strategy: How do the assumptions embodied in the current strategy compare with the analysis indicated here?
=+Strengths and weaknesses: Given an analysis of industry and competitors, what are the firm’s strengths and weaknesses relative to present and future competition?
=+What important government, social and political factors will present opportunities or threats?
=+ what are their probable future moves?
=+Competitor analysis: What are the capabilities and limitations of existing and potential competitors?
=+ What are the important industry opportunities and threats?
=+Industry analysis: What are the key factors influencing competitive success?
=+strengths and weaknesses, competitors and industry trends must be made for the current strategy to be viable?
=+Assumptions: What assumptions about the company’s relative position,
=+Identification: What is the implicit or explicit current strategy?
=+1 What is the business doing now? Where are we now?
=+Is there sufficient managerial capability to allow for effective implementation?
=+Is there enough congruence between the goals and policies and the values of the key implementers to ensure commitment?
=+Are the goals well understood by the key implementers?
=+Does the timing of the goals and policies reflect the organization’s ability to change?
=+Are the goals and policies responsive to broader societal concerns?
=+Does the timing of the goals and policies reflect the ability of the environment to absorb the actions?
=+Do the goals and policies deal with industry threats (including competitive response) to the degree possible with available resources?
=+Do the goals and policies exploit industry opportunities?
=+Do the key operating policies reinforce each other?
=+Do the key operating policies address the goals?
=+Are the goals mutually achievable?

Showing 1 - 100 of 106