Marketing strategy for the rocky mountain jewelry company
Part 1: The Marketing Environment
1. As a newly minted MBA, you have been hired to develop a marketing strategy for the Rocky Mountain Jewelry Company. 1) Discuss the primary decisions you should make in developing a marketing strategy; and 2) Given your understanding of macroenvironmental forces, is marketing strategy dynamic or stable? Please explain.
2. The owners of the Rock Mountain Jewelry Company have noted that the foundation of nearly every definition of marketing involves the word “exchange.” Discuss five marketing activities and four types of utilities marketers can utilize to facilitate the exchange process as they relate specifically to the Rocky Mountain Jewelry Company.
3. The owners of the Rocky Mountain Jewelry Company have heard that a firm’s positioning strategy is very important. The firm has hired a consultant to conduct an analysis to ensure that the firm is positioned correctly. The firm is having trouble deciding whether to locate in the downtown area or in a fashion mall located in the suburbs. The firm is now asking for your help in regards to their positioning strategy. What advice can you provide the owners of this firm?
Part 2: Marketing Strategy and Planning
1. Oakley, best known for high-end, sport sunglasses and goggles, is engaging in its first strategic planning exercise. The company currently utilizes 6 strategic business units (SBUs) for planning purposes. The company has heard of portfolio models such as the BCG Matrix but is unclear on how to proceed. Please explain the 1) overall purpose and 2) inner workings of the BCG Matrix. 3) What would be the ideal mix of SBUs as described by the BCG Matrix for Oakley? Please explain.
2. Discuss the role of a SWOT analysis within a marketing plan.
3. The Rocky Mountain Jewelry Company would like to expand its business. A.) Please explain the basic differences between intensive, integrative, and diversification growth strategies. B.) Discuss four specific growth strategies for the Rocky Mountain Jewelry Company,giving a specific example from each of the three growth categories (intensive, integrative, and diversification).
Part 3: Buyer Behavior
1. Your manager has just changed jobs from a B2C company to a B2B company. As a long-time employee of the B2B company, you’ve noticed that your new manager is a bit lost and doesn’t seem to understand the meaningful differences between these two markets. What information would you provide this new manager that would be most helpful?
2. In marketing’s early days, consumer groups were highly suspicious of marketing firms. These groups believed that marketing firms could brainwash customers and force customers to purchase products they did not need or want. Based on your knowledge of the influences on the consumer decision process, do you believe that it would be easy to manipulate the purchase behavior of specific individuals? Explain why or why not.
3. Congratulations! You have been hired by the Rocky Mountain Jewelry Company to assist them with their marketing efforts. (1) Using the Consumer Buying Decision Process, discuss the managerial usefulness of understanding the stages consumers will progress through before making the actual purchase.
Part 4: Supplemental Readings(do not answer more than 2 here)
1. Based on the criteria for effective segmentation and the article “Targeting Demographics in Beverage Marketing,” why do most consumer package goods (PCG) companies pay such close attention to the Hispanic micro-culture?
2. Based on the article, “Revisiting the Marketing Mix,” how does the SIVA Approach differ from the traditional marketing mix?
3. Based on the article, “Can More Information be a Bad Thing?” is decision-making a rational and scientific process? Please explain.
