Order instructions
1. What is a value proposition? For each of these brands, articulate your perception of their key value proposition:
Caterpillar earth mover
Apple iPad
McDonald’s hamburgers
FedEx overnight delivery service
2. Consider the concept of the value chain. Identify a firm that you believe does an especially good job of investing in elements in the value chain to gain higher profit margins versus competition. Which two or three elements in the value chain does that firm handle especially well? For each of those elements, what does it do that is better than its competition?
3. Why is it so important for marketing managers, when engaged in marketing planning, to successfully deal with both Marketing (Big M) and marketing (little m) elements? What would be the likely negative outcome if a marketing plan paid a lot of attention to strategies and little attention to tactics? What would be the likely negative outcome of the reverse?
4. Consider firms in any area of the retail business. Using Miles and Snow’s strategy types, identify the following: (1) a firm that you believe is a prospector; (2) a firm that you believe is an analyzer; (3) a firm that you believe is a defender; and (4) a firm that you believe is a reactor. What characteristics of each led you to conclude they belong in their respective strategy type?
5. Historically, the theme park industry in Orlando is heavily affected by a large number of macro-level external environmental factors. From each of the five major categories of macro-level external factors, identify a specific example of how some element within that category might impact a theme park’s marketing planning for the next couple of years. Be sure to explain why you believe each of your examples will be important for marketing managers to consider as they develop their marketing plans.
