MKTG 301
SEMESTER TWO, 2023
MARKETING
Advanced Marketing Strategy
Maximum of 750 words for these questions (all inclusive)
During Week 4 of the semester, we discussed growth strategies and the importance of identifying an organisation’s core characteristics and competencies to best inform which marketing strategies to enact, and when.
Using insights from the Week 4 readings (“ Marketing strategy discerning the relative influence of product and firm characteristics ” by Rajan Varadarajan, and “The Core Competence of the Corporation” by C.K. Prahalad and Gary Hamel), briefly explain how your group project brand or organisation can best adopt these insights into developing a new product or service into a new marketplace, as follows:
1. What are core competencies and why are they important to consider prior to developing a new product or service?
2. Choose two of the firm characteristics as featured in the Varadarajan reading and detail how they can drive the marketing strategy for your new product or service.
Be sure to use illustrative examples from your group project brand or organisation in your response to the above. You may also use illustrative examples from industry guests who presented during the semester in your response.
Maximum 500 words for this question (all inclusive)
The course outline for MKTG301 lists a number of course-level learning outcomes . One of these learning outcomes is:
Draw conclusions and make informed decisions based upon the types of internal and external data that are used within real-world companies to support executive-level strategic decision making.
Reflect on your team assignment experiences from the perspective of this learning outcome and explain how insights from the Week 9 reading (“ Marketing-in-a-silo-world-the-new-CMO-challenge” by David A. Aaker) and lecture content from Week 9 could benefit the strategic decision-making of your group project brand or organisation, as follows:
1. What is an organisational silo, and why are they important to identify?
2. Choose two of the silo structure driven problems as featured in the Aaker reading and reflect on how these insights could assist the strategic decision-making of your group project brand or organisation.
Be sure to use illustrative examples from your group project brand or organisation in your response to the above. You may also use illustrative examples from industry guests who presented during the semester in your response.