Homework
I. Provide an example of your interpretation of a business strategy and how it is used either at a company where you work or have previously worked. Illustrate your answer with examples. In your opinion, was the described business strategy successful in achieving its stated goals? Why, or why not?
II. In a company or organization where you may have worked or served, reflect on your observations about the company's direct and indirect competitors. As a part of that observation, describe the most relevant categories in which those competitors were grouped. What were their similarities and differences with your company or organization, and how did you see it affect your company's competitive efforts? Why, or why not?
III. Think of a company with many customers with whom you have had experience. Based on what you know and have experienced with that company and their many customers, reflect on whether too many customers create a scenario where the company commits to being all things to all people, thus causing the company to potentially compromise its strategic success. What suggestions could you offer them to improve their strategy?
IV. You work for a major clothing retailer that is on track to miss its financial targets this year, and your CEO wants to cut costs by reducing the marketing budget next quarter. As the department manager, provide your reflection on how you would frame your response along with your thought processes in how you would argue against this. List two solutions that you feel would help with the marketing budget. Explain to the CEO how this is a viable solution.
V. Imagine yourself as an entrepreneur. Reflect on an industry segment in which you might compete. Discuss what you believe it would be like competing as a smaller company within a competitive field of larger, well-established companies vying for the target market segment you select. Reflect on the strategies that you would put in place to gain your fair share of the market. Provide further reflection on how this would differ from how your larger competitor would face these same competitive challenges. Why do you believe this?
VI. You are the marketing manager in a fast-growing retail company. Reflect on how both the company and the customer benefit from brand equity. Do you believe it can be shared by both? Why, or why not?
VII. Imagine you are your company's marketing manager. You have been asked to review its slate of brands. Reflect on the process you would implement in order to objectively ensure the company did not have too many brands. Are your ideas innovative? Why?
VIII. Discuss how you can apply the concepts learned in this course to your current or future career. How might the lessons you have learned positively impact your career success?
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.