1.What is the business strategy?

Business strategy consists of the decision made by top management and the resulting actions taken to achieve the objectives set for the business. 2.Brienfly explain any five types of marketing information. Marketing Research Studies. These studies consist of customized information collected and analyzed for a particular research problem. The information may be obtained through surveys and/or published sources. Standardized Information Services .This information is available from outside vendors on a subscription or single-purchase basis. The services collect and analyze information that is sold to several customers such as prescription sales for drugs marketed and external data. Database Systems. This special form of MIS includes information from internal and external sources that is computerized and used for customer and product analyses, mailing lists ,identifying sales prospects, and other marketing applications. Decision Support System. These computerized system provide decision-making assistance to managers and staff. Their capabilities are more advanced than an MIS. Management Information System(MIS). Computerized system supply information for a variety of purposes such as order processing, invoicing, customer analysis, and product performance. The information in these system may include both internal and external data.

3.Briefly explain the four generic strategies. The Develop Strategy. Organization using the develop strategy are relatively new businesses, firms with rapidly changing technology and product line ,or companies entering new product-markets because of unfavorable conditions in the product and/or market development. Firms in this category pursue market leadership strategies. Intuits pioneering entry in the personal finance computer software market is an example. The Stabilize Strategy. Companies that want to stabilize are found in mature, stable industries (e.g,textiles, chemicals). In markets where buyers needs are relatively similar, managements strategies emphasize cost leadership. In differentiated markets, market segmentation (or focus) strategies or some types of product specialization are employed. The strategy typically emphasizes high-quality products and service and close contact with customers. In the tire industry Goodyear follows this strategy. The Turnaround Strategy. This strategy is appropriate for survival and rebuilding situation. Emphasis may be on improving cash flow and reducing may occur. The cost strategy involves actions to increase efficiency, where refocusing may include reorganization, diversification and acquisitions (or mergers). The Strategy Feature describes Laura Ashleys turnaround strategy. The Harvest Strategy. A business in this category is a candidate for removal from the corporate portfolio. The factors driving the decision to harvest the business include poor financial performance, lack of compatibility with the core business, no competitive advantage, and poor fit with the future direction of the corporation. General Electrics sale of its small appliance business to Black & Decker is an example of a harvest strategy