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Deliverable Length: 400–600 words
Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Your team attends a trade conference on the subject of globalization. They have attended several seminars both advocating and dismissing implementing a global strategy. You return to the office and share some of what you have learned with the team.
“Globalization is a very interesting topic and can get very heated,” you explain. “There are some countries and companies who are fiercely loyal to their homes and would not consider going global. Others see it as a benefit to the company and their customers. Some people here in the states believe that American-made is best because we are contributing to our home country. But, is it? Is it always best to stay domestic? How does this impact pricing? Are you truly helping?”
As your team ponders these questions, you start to think about your position on the topic. Complete the following:
Should your company go global? Why or why not?
How does globalization impact the marketplace as a whole?
Has your opinion changed from the beginning of the course to now?
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Deliverable Length: 400–600 words
An entrepreneur is someone who decides to either create a new product or an improved product with the purpose of filling a need in the market that is not being met. The entrepreneur assumes the risk of marketing this new product or service but also benefits from revenues earned. There are other benefits as well. The entrepreneur is their own boss and can embrace creative freedom. Entrepreneurs take pride in what they are doing and are passionate about their venture. They are also responsible for getting the word out about their new product to build brand awareness. One of the most powerful tools to accomplish this in the digital world is through social media platforms.
Watch the following video that introduces the role of social media marketing: What is Social Media Marketing?
As an entrepreneur launching a new brand of snack mix, you have determined that social media is going to be an inexpensive, expansive method to promote your new products and services.
Using what you have learned, use the following questions to guide your response:
Which 2 social media platforms are going to provide the most exposure for your brand and why?
Which social media platform will not be appropriate for your brand and why?
What is 1 way you can optimize your product description?
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Deliverable Length: 4-6 pages
Deborah enters your office ready to discuss the project. She discusses her feedback on the plan thus far. She states that your team is doing an excellent job researching and you’ve been keeping her up-to-date on your findings. She commends you for your focus on effective management strategies because your team has been looking at every aspect of the company and considering both internal and external pros and cons. She asks that your team now apply the findings to develop a strategic framework so that the company can begin its global expansion programs. You decide that Deborah has brought up another good point and decide that the balanced scorecard would make a good part of strategic framework.
A balanced scorecard suggests that we view the organization from four perspectives (the learning & growth perspective, the business process perspective, the customer perspective, and the financial perspective). Create a 4-6 page paper that discusses the following:
What is a balanced scorecard?
Briefly discuss the four perspectives of the balanced scorecard and analyze what each means to your organization.
In addition to the balanced scorecard, provide an overview of ethics and one other strategy that would be part of your company’s strategic framework for global expansion.
Why is it important to combine different strategies when pursuing global expansion?
In addition to your textbook material, here are a few resources that may help you learn more about the basics of the balanced scorecard:
http://balancedscorecard.org/Resources/About-the-Balanced-Scorecard
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Deliverable Length: 4–6 pages (not including cover page and resource page)
There are many types of customers and potential customers in the market for products and services. Demographic data is the statistical information regarding a population. Examples of demographic data include age, gender, married/not married, children/no children, educational level completed, and income level to name a few. Psychographic data is the information about a customer’s interests, values, and personality traits. Examples of psychographic data categories are values, leisure activities, attitudes, and interests.
Watch this video to learn more about demographics and psychographics: Difference Between Demographics and Psychographics/Marketing
Using what you have learned, use the following questions to guide your writing:
Explain the purpose of demographics in marketing research.
Describe examples of demographics and their impact on determining the customer group for a brand.
What are psychographics and their purpose? Provide examples to illustrate your points.
Is it necessary to determine both demographics and psychographics to determine the target group of customers? Why or why not?
Please use the MKTG630_U3_IP_Template to complete this assignment.
