Name: Gervacio, Ronald P.
Year & Course: I - MBA
1. How does marketing affect customer value?
Customer value is a customer’s perceived preference for an assessment of those products,
attributes, characteristics, performance and outcome emerging from utilize, that encourages
(or block), accomplishing the customers goal and objective in use situations. Woodruff
(1997). Marketing affects the consumer in choosing the product which he wants to acquire.
Customers checks out the products which are marketed and purchases them by tallying with
what is suitable to him and how the product is useful in his daily activities.
2. How strategic planning is carried out at different levels of the organization?
In the corporate and divisional levels, businesses use a form of the decision making
process for strategic planning with four planning activities. According to Kotler and Keller
(2016), “Whether they let their business units set their own goals and strategies or collaborate
in doing so, all corporate headquarters undertake four planning activities:
1. Defining the corporate mission
2. Establishing strategic business units
3. Assigning resources to each strategic business unit
4. Assessing growth opportunities
On the business unit level, strategic planning is carried out by various managers that have
different tasks for different units. Their goals are usually specific to the particular business
area with strategies to tackle the specific metrics and stated goals on a day-to-day, week-by-
week, month-to-month basis. Strategies are usually developed by management closest to the
business unit and communicated to the divisional and corporate levels. It is more common
practice to hold managers accountable for performance failures when the plan is made on a
specific level.
3. What does a marketing plan include?
A marketing plan is the first step in creating a successful marketing program for your new
business.
1. Market Research
Collect, organize, and write down data about the market that is currently buying the product(s)
or service(s) you will sell. Some areas to consider:
Market dynamics, patterns including seasonality
Customers – demographics, market segment, target markets, needs, buying decisions
Product – what’s out there now, what’s the competition offering
Current sales in the industry
Benchmarks in the industry
Suppliers – vendors that you will need to rely on
2. Target Market
Find niche or target markets for your product and describe them.
3. Product
Describe your product. How does your product relate to the market? What does your market
need, what do they currently use, what do they need above and beyond current use?
4. Competition
Describe your competition. Develop your “unique selling proposition.” What makes you stand
apart from your competition? What is your competition doing about branding?
5. Mission Statement
Write a few sentences that state:
“Key market” – who you’re selling to
“Contribution” – what you’re selling
“Distinction” – your unique selling proposition
6. Market Strategies
Write down the marketing and promotion strategies that you want to use or at least consider
using. Strategies to consider:
Networking – go where your market is
Direct marketing – sales letters, brochures, flyers
Advertising – print media, directories
Training programs – to increase awareness
Write articles, give advice, become known as an expert
Direct/personal selling
Publicity/press releases
Trade shows
Web site
7. Pricing, Positioning and Branding
From the information you’ve collected, establish strategies for determining the price of your
product, where your product will be positioned in the market and how you will achieve brand
awareness.
8. Budget
Budget your dollars. What strategies can you afford? What can you do in house, what do you
need to outsource.
9. Marketing Goals
Establish quantifiable marketing goals. This means goals that you can turn into numbers. For
instance, your goals might be to gain at least 30 new clients or to sell 10 products per week, or
to increase your income by 30% this year. Your goals might include sales, profits, or customer’s
satisfaction.
10. Monitor Your Results
Test and analyze. Identify the strategies that are working.
Survey customers
Track sales, leads, visitors to your web site, percent of sales to impressions
