1. Why is a competitor analysis a crucial approach to evaluate the marketplace? (2 points)
Competitors all appear to offer a similar good or service.
List the data to include in this analysis. (2 points)
Business Strategy
Website Comparisons (To see how effective the website is doing.)
Targeting
Social Media (To attract with the product)
Content Marketing
Email Marketing
Using 2 specific examples, show how this data was used to modify the approach of a particular company. (6 points)
2. Use the marketing mix as a basis to discuss the criticisms of marketing.(5 points)
The marketing mix is an arrangement of apparatuses of advertising that the association uses to seek after the showcasing goals in the objective market. They comprise of the four Ps which incorporate the value, item, advancement and place.
Evaluate how marketing influences you, in terms of
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List (5 points) and explain (5 points) five important changes/trends affecting marketing and ultimately the strategic planning process.
- Social: Social duty implies that associations are a piece of a bigger society and are responsible to that society for their activities.
- Economic: Pertains to the wage, uses and assets that influence the cost of maintaining a business and family unit
- Technological: Inventions or advancements from connected science or data inquire about.
- Competitive: The elective firms that could give an item to fulfill a particular market's needs.
- Regulatory: Restrictions state and government laws put on a business with respect to the lead of its exercises.
What is meant by "The Channel of Distribution"? (2 points)
Paths, or routes that goods and services take from the producer to the ultimate consumer or industrial user.
How has it changed over the past 10 years? (4 points)
Technology has made receiving information easy. So, it really improves our way of communications. And help to get things done more efficiently.
How do you see it changing in the next 10 years? (4