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- 1.Describe how a company’s mission statement and objectives affect the way management plans its business portfolio. 2.What does the economic environment consist of as far as marketers are concerned, and why is it so important for them? 3.Who are the Gen Zers, and why will they become interesting to marketers in the future?Companies are constantly researching their economic status to determine the company's projected business performance. The scales of the economy are directly related to how to market the business. Determining the marketing strategy of direct mail marketing, text messaging marketing, search engine marketing, advertising experts, and/or digital marketing. In this discussion question, you will apply theory from your past courses in economics and marketing: Describe how you should consider inflation when analyzing your existing or new business idea/product/service or creating a strategic management approach? Provide three (3) options that you will consider for pursuing new market opportunities. How could the options for pursuing marking opportunities be applied to your career planning at the current stage of your career? You should consider the business idea or new product/service in your Capstone. Describe in details to support your response.Is this statement true or false? It is advisable for entrepreneurs to make detailed cost calculations for every product or service they are selling. Through this effort, they can price their products competitively without sacrificing their profit margins.
- Movie rental stores used to be a vibrant business within the United States, but with the invention of streaming, it is now considered a dying industry and it's hard to find any movie rental establishments still open anywhere in the country. Which of the following economic concepts best illustrates this phenomenon? O Price Taker Markets O The Principle-Agent Problem The Income Effect O Creative DestructionWhat retail factors outside of Target’s control should they be looking at to help predict future growth and profitability? For example, personal disposable income, technology, competition.9-10. Mr. Kiko Dela Cruz is a small entrepreneur involved in the manufacture of desert coolers. Provide an outline of the marketing strategy for his firm
- Identify and describe a local or online store you often shop at. Include a picture if you like. Describe two ways the store uses behavioral economics to encourage you to spend more time, return frequently, and spend more money there. Cite at least one theory discussed in this course for each strategy identified. If you were a consultant for this store, suggest one way they could increase sales using behavioral economics concepts discussed in this course. (Optional: Suggest it to the owner. How do they respond?) Critique your past spending decisions at this store. Suggest a decision-making process that could guide you to spend more wisely there in the future.Why do businesses need to assess the relationship between economic indicators and business plans?How does market planning contribute to achieving business objectives?
- I have to come up with my own company I have a company called Paws and Delights Cafe which is an animal pet-friendly cafe. I have to write and include the following in my business plan The following parts of the business plan are due: Parts 4, 5, 6. 15 points-5 points for each of the three parts. Part 4 Definition of the market What to Include: Industry Description and Outlook – Describe your industry, including its current size and historic growth rate as well as other trends and characteristics (e.g., life cycle stage, projected growth rate). Next, list the major customer groups within your industry. You can research industry information by going to the library's database: Business Insights Essentials and selecting industry from the top of the page and then search for the industry your business is in, such as retail, restaurant etc. Information About Your Target Market – Identify your target market and provide a profile of your targeted clients. Narrow your target market to a…Undertake a STEEP (social, technological, economical, environmental, political) analysis of WHATSAPP companyBusiness Monitor International is one of several organizations that seek to predict future trends in sectors, countries, and financial markets. How are these services sold to businesses as legitimate business planning tools?