To learn more about the marketing function within your company/organization. Learn from each other w ...

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To learn more about the marketing function within your company/organization. Learn from each other what marketing practices exist in different business, industries, etc Task: Please review with your organization how your company is currently operating in two of the below areas (choose any two areas that you are the most interested in) and prepare a one-page paper (you can do bullet points) for class discussion. Make sure that you submit your one-pager into Carmen prior to your class. See below for the list of questions: a) General Marketing Questions (including goals/STP): - What is the internal structure for the marketing team and how are decisions made? - What are they key roles and responsibilities for the marketing team? - What are you company’s marketing goals (if there are any )/Are they aligned/connected with company mission/vision/goals? - What is your target audience? How do you identify your target audience? - Does your organization have a marketing plan (strategic plan for marketing function)? Please provide details about what it is and how it serves your company. - What are the challenges for the marketing team? - What should be done differently (based on your discussion with your marketing function and your observation)? b) Marketing budgeting (special section for the “finance” students): - How is the marketing budget set? - What are the main assumptions / drivers that impact a marketing budget? - Do financial teams and marketing teams interact closely to set the budget? - What are the primary challenges in developing a marketing budget? - What suggestions do you have to improve the process? c) Marketing Research: - What kind of marketing research is your marketing team doing? - Does your organization use external or internal resources to conduct research (agency, etc.)? - What research approach is used by your company? (observation, focus groups, survey etc.) - What instruments/resources do they use (questionnaire, qualitative measures, etc.)? - Is marketing research is done consistently and how does research drive marketing decisions? - What are the challenges related to marketing research? - What should be done differently (based on your discussion with your marketing function and your observation)? d) Product: - Who is in charge of decision making on product/service offerings? - What are the main drivers of product/service decisions? - How are the decisions on product offerings evaluated afterwards to identify areas for improvement? - What are the main challenges in product offerings? - What you think should be done differently? e) Pricing: - Who is in charge of decision making on pricing? - How is pricing set? - 7 - - What are the main drivers of pricing decisions? - How are the decisions on pricing evaluated afterwards to identify areas for improvement? - What are the main challenges in pricing strategy? - What you think should be done differently? f) Placement: - What marketing channels does your company use? - How are the decisions about marketing channels made? - What are the main drivers of “placement” decisions? - Where else can your company grow? - What are the main challenges in placement strategy? - What do you think should be done differently? g) Promotion/Communication: - Is your company advertising? What kind and how are the decisions made? - Does your company use sales promotions? What are the main drivers of promotion decisions? - How are the decisions on promotion evaluated afterwards to identify areas for improvement? - What are the primary inputs for the marketing communication strategy (research, etc.)? - What is the approach on social media? - Is the public relationships group part of the marketing team? - What are the challenges of marketing communication/promotion? - What should be done differently