In this scenario, you will be responsible for the following: Evaluate a firm\'s

Question

In this scenario, you will be responsible for the following:

Evaluate a firm's marketing opportunities.

You have just been named marketing manager of a major franchise. Your job will be to perform the daily tasks of a marketing manager. First, select one of the franchise companies below for which you would like to be Marketing Manager.

Edible Arrangements® - Edible fruit baskets – Creates fresh fruit arrangements and gourmet chocolate dipped fruit to order.

Cartridge World® - Cartridge Company - carries a complete line of both inkjet and toner printer cartridges. Offers both remanufactured and Original Brand (OEM) ink and toner cartridges for nearly all brands of printers, copiers, fax and postage machines.

Liberty Tax Service® - Taxes – provides tax service to both consumers and businesses.

Checklist:

Step 1: Provide a detailed market structure analysis which will identify the competitors for your product or service. Your market structure analysis should include information on the following:

·        The industry

·        Product class/category

·        Product types

·        Product variants

·        Brands

Step 2: Provide a detailed competitor analysis. Your competitor analysis should include the following:

·        Determination of the competitor’s major objectives.

·        Assessment of the competitor’s current marketing strategies.

·        Assessment of the competitor’s strengths and weaknesses.

·        Internal analysis of your firm’s strengths and weaknesses relative to the competitors.

Step 3: What type of game theory design would you apply to anticipate a competitor’s future strategies?

Step 4: Based on your analysis, what market opportunities are available to your firm? Explain your rationale.

Please provide this ASAP.

Thanks

Explanation / Answer

As a marketing manager of a major franchise your job indeed would indeed require to critically examine the business environment in which your enterprise functions. Generally business are constantly been influenced by internal or external environments thus marketers need to understand the marketing environment and accordingly adjust their marketing plans which indeed can facilitate them to maximize opportunities and minimize threats.

Competitor analysis in marketing and strategic management refers to a process of careful examination and evaluation of strengths and weaknesses of potential competitors which in fact can facilitate to effectively recognize and acknowledge potential business opportunities and threats.

Furthermore an effective competitive analysis is regarded as a critical element of your business marketing plan as information evaluated efficiently indeed can facilitate to effectively establish valuable information which in fact can facilitate to effectually recognize as what makes your goods or services unique from your competitors and identify valuable attributes which can facilitate to attract the targeted market.

Social media networks for companies are regarded as the most crucial and significant source for effectively and efficiently interacting and communicating with the consumer’s thus nowadays there has been an increasing trend of organizations social media presence. As marketing manager you need to carefully examine and evaluate the most effectual way of utilizing social media and integrating in the marketing strategy.

Furthermore as marketing manager it’s also very critical and vital to intelligently recognize and acknowledge the key business areas that needs further improvement for instance the marketing content creation, search engine optimization, operational efficiency, product quality and pricing policies as this indeed can facilitate the business to target the potential consumers.

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