Scribd Logo
Upload

Welcome to Scribd!

  • CH 2 - Class Review (Q)

    Uploaded by

    JOANNA LAM
    3 views2 pages
    1. A mission statement gives strategic direction by outlining the overall goal or purpose of a company like Netflix. It provides a high-level summary in 3 sentences or less. 2. Expanding sales through product development allows using an established brand but risks customer doubts, while market development leverages experience but risks cultural gaps and unknown brand. 3. For the SWOT analysis of HKTV Mall, addressing strengths could involve finding more products, weaknesses a penalty system for fake goods, opportunities more promotions during COVID, and threats attracting customers through better service and quality than competitors.

    Original Description:

    Original Title

    Ch 2 - Class Review (Q)

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    1. A mission statement gives strategic direction by outlining the overall goal or purpose of a company like Netflix. It provides a high-level summary in 3 sentences or less. 2. Expanding sales through product development allows using an established brand but risks customer doubts, while market development leverages experience but risks cultural gaps and unknown brand. 3. For the SWOT analysis of HKTV Mall, addressing strengths could involve finding more products, weaknesses a penalty system for fake goods, opportunities more promotions during COVID, and threats attracting customers through better service and quality than competitors.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    3 views2 pages

    CH 2 - Class Review (Q)

    Uploaded by

    JOANNA LAM
    1. A mission statement gives strategic direction by outlining the overall goal or purpose of a company like Netflix. It provides a high-level summary in 3 sentences or less. 2. Expanding sales through product development allows using an established brand but risks customer doubts, while market development leverages experience but risks cultural gaps and unknown brand. 3. For the SWOT analysis of HKTV Mall, addressing strengths could involve finding more products, weaknesses a penalty system for fake goods, opportunities more promotions during COVID, and threats attracting customers through better service and quality than competitors.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Chapter 2 – Class Review

    1. (a) Using Netflix as an example, explain how a mission statement gives a strategic
    direction. (b) Create a mission statement for your own career.

    2. Compare the advantages and disadvantages of Ben & Jerry’s attempting to


    expand sales revenues by using
    (a) a product development strategy or
    Adv：well-known brand; know well about customers； customers may question the
    expertise.
    Disadv：do not have experience in this product.
    (b) a market development strategy. (With reference to the text and Figure 2-5)
    Adv：know well your product, experience. Enhance the international reputation
    Disadv：culture gap；customers do not know the brand

    3. Select one strength, one weakness, one opportunity, and one threat from the
    SWOT analysis for HKTV Mall. Suggest an action that a marketing manager
    might take to address each factor.
    Strength: well known brand easy to buy online without going outside.
    Find more items for sale
    Weakness: the quality of products is not steady such as have fakes.

    The platform should establish a penalty system where traders found to be selling fakes can be
    fined and banned from selling goods for a period of time.

    Opportunity: Under covid-19, online shopping instead of outside shopping.


    Provide more promotions on social media to attract customers to buy items.

    Threat：Facing multiple competition. Such as PARKnSHOP and Wellcome.


    Attract customers with better service and product quality
    4. What is the main result of each of the three phases of the strategic marketing
    process? (a) planning, (b) implementation, and (c) evaluation.

    5. Parts of tasks 4 and 5 in Figure 2-10 are done both concurrently and sequentially.
    (a) How can this be? (b) How does it help the students meet the term paper
    deadline? (c) What is the main advantage of scheduling tasks concurrently rather
    than sequentially?

    6. The goal-setting step in the planning phase of the strategic marketing process sets
    quantified objectives for use in the evaluation phase. What does a manager do if
    measured results fail to meet objectives? Exceed objectives?

    You might also like