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How might the project team recommending as ERP design strategy justify its recommendation as compared with other types of design strategies?
It might recommend its strategy through cost saving due to facilitated reuse. This allows them to reuse certain parts of others designs
Is selling strategy is equal to marketing strategy?
A selling strategy or sales strategy would be a component of a marketing strategy, but they're not one in the same. A sales strategy would tend to involve a narrower scope of objectives than a marketing strategy, such as setting sales goals, giving effective sales presentations, improving sales closing ratios, cultivating customer relationships, and getting customer referrals. A marketing strategy, on the other hand, might encompass broader areas, such as developing a marketing plan, conducting a competitive analysis, incorporating social media marketing techniques into the plan, conducting seminars and workshops, promoting special events, or publishing a client newsletter.
It is possible for a product's life cycle stage to affect its product strategy?
Yes, a product's life cycle stage significantly impacts its product strategy. For example, during the introduction stage, the focus may be on building awareness and educating consumers, while in the growth stage, strategies might shift toward scaling production and expanding distribution. In the maturity stage, companies may prioritize differentiation and cost management, while in the decline stage, the strategy may involve discontinuation or repositioning efforts. Thus, aligning product strategy with the life cycle stage is crucial for maximizing performance and profitability.
What is an integrative growth strategy?
Integrative growthA growth strategy in which a company increases its sales and profits through backward, forward, or horizontal integration within its industry. A company may acquire one or more of its suppliers to gain more control or generate more profits (backward integration). It might acquire some wholesalers or retailers, especially if they are highly profitable (forward integration). Or finally, it might acquire one or more competitors through acquisition (horizontal integration).
What is the importance of a marketing strategy?
Strategy without tactics is the slowest route to victory; tactics without strategy is the noise before defeat". Sun Tzu - The Art of War. Marketing Strategy is something that helps companies achieves Marketing objectives. Marketing objectives help achieve corporate objectives and corporate objectives aim to achieve a competitive advantage over rival organizations. Firstly, a Managing Director or senior management team, or executive board of directors (who ever is in charge) decides on overall corporate objectives. One corporate objective might be to increase sales by X%. In order to achieve this objective the board might split it into smaller bite sized objectives, assigned to different departments. Marketing might get the following objective - Identify 2 new customer segments, or increase brand awareness by X%. Do you see how business objectives filter down through the levels of organisation within a company? Corporate objectives - corporate strategy - individual department objectives - departmental strategy - departmental tactics - departmental administration. Marketing strategy is all about how to achieve Marketing objectives, Marketing tactics is how to implement strategies, and administration holds the whole thing together. Referring back to Sun Tzu, the Art of War is a ancient Chinese text about military strategy, which in more recent years has become a common fixture on the desks of many business managers and it is packed full of military strategies both offensive and defensive. These strategies are as relevant to business today as they were to the Chinese military a 1000 years ago. The first chapter of this book is about laying plans. Planning and research are important elements to any kind of strategy, infact without this research and planning strategy is worse than useless, it is misleading and dangerous to the organization's ability to remain competitive. Sun Tzu famously said 'know your enemy as yourself; he who knows himself but not his enemy will win half the time; he who knows his enemy but not himself will win half the time; he who knows neither himself nor his enemy is sure to be defeated.' Common sense perhaps, but it does illustrate the importance of strategy. The marketing Guru Phillip Kotler, in his book 'Kotler on Marketing' writes that the process of planning is useful even if the plans themselves are not. Simply sitting and talking about strategies is beneficial because of the ideas stimulated. In marketing, planning means conducting an environmental audit - do a PEST analysis, SWOT analysis, Competitor analysis, and anything else you could think of to help you understand the environment in which the organization operates. Having done all this you should identify the key points and the most significant opportunities and threats facing the organization. You can use this information to develop a marketing strategy that focuses on the organizations strengths, addresses its weaknesses. The 3 types of analysis I mention above are all useful individually, but the most sophisticated method is to use them in conjunction with each other. Let them flow into each other, inform each other. I wish some one had told me that a long time ago. I didn't realize that (above) until the 3rd year of my degree. One academic who has written a lot about marketing strategy is Michael Porter who came up with a rather good model called 'Generic Strategies', here's a very good explanation: http://www.quickmba.com/strategy/generic.shtml. However, if you are not familiar with these concepts then it might be in more detail than you really need, or care about. I will summarize the model. There are 3 generic strategies that might achieve competitive advantage, these are Cost leadership, be the cheapest; Differentiation, have a better product; Focus, set your sights on a small niche in the market which you can satisfy very well. The reason I brought this model into it is because it is important to actually choose and achieve one of these strategies, some academics (Johnson and Scholes) think it is possible to effectively achieve 2 of the generic strategies at once but there is a general consensus that organizations shouldn't get 'stuck in the middle' of all the strategies and so not be able to achieve any effective strategy at all. A Marketing strategy provides consistency throughout the different elements of an organization's marketing mix. If an organization has decided to use a pricing strategy that indicates a high quality product and the marketing literature doesn't support this then there is a breakdown of strategy, it gives a confusing message and customers would thing 'hey, I paid a tonne for this product but it's a load of rubbish because they can't even put together a decent leaflet" or something like that. Strategy is the foundations upon which marketing campaigns are formed. If you ask the average Joe what marketing is the chances are they will say 'advertising and promotion' perhaps branding. This is a common misconception; marketing is the management process responsible for identifying, satisfying and anticipating customer requirements profitably (that's the Chartered Institute of Marketing's definition). The important words are 'management process' that implies a strategic function. If we take this literally then we might say if it's not strategic (directly or indirectly) it's not marketing; must be some other business function, some useless, ill-informed activity that is a waste of money. I wouldn't mention that to your boss though.
Why might someone be interested in researching a communications strategy?
You might be interested in researching a communication strategy to improve your communication skills within a business. You can use a communication strategy for your business to become in contact with business partners.
What is the most generic software process model which might be used as a basis for managing the development of the virtual reality system?
exploratory development !! we can add new features those are propose by customers
What factors in marketing environment might affect your marketing strategy if you were a fast food business?
consumer behaviors influences marketing strategy
Describe a recent development in the Investment Banking industry What implications might this development have for the division to which you have applied?
Describe a recent development in the banking industry. What implications might this development have for the division to which you have applied?
Does white have the advantage in chess?
Yes... It is your chance to see what strategy they might have.
What is the process called of the growth of complex organisms?
evolution
What are three factors that might contribute to atypical development?
Identify and discuss three factors that might contribute to atypical development
How might the project team recommending as ERP design strategy justify its recommendation as compared with other types of design strategies?
It might recommend its strategy through cost saving due to facilitated reuse. This allows them to reuse certain parts of others designs
How might knowing about factors that influence change help you with personal development?
How might knowing about factors that influence change help you with personal development?
Another word that describes a stage of development beginning with pH?
A stage of development might also be called a phase of development.
One strategy to help cover college tuition costs might be to attend a?
Community college
Should a development organization adopt a single process model for all of its software development?
Not necessarily. If the kinds of software they develop are similar, then having a single process model can be a good idea. If they are involved in a wide variety of types of development projects then some models might be more suited to some projects than others. A company needs to be flexible. So they may be able to classify the types of projects they do and apply the appropriate model to a particular type.
