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Why do you think these are best ways to analyse the market?
Within the Discussion Board area,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:
As you close your weekly meeting with Deborah, she says, “There are some very good ideas here. I would like to see you continue with a global marketing plan. We need more concrete analysis and data for the presentation. Get your team to work.”
After your meeting with Deborah, you briefly meet with your team to discuss moving towards a more formal analysis.
“Tiffany and Mike, we need to provide a more detailed analysis,” you explain. “You’ve done a great job so far looking at what resources we need and potential countries, but we need to really dig deeper on this.”
Tiffany nods her head in agreement. “Definitely,” she says. “We need to look at some internal variables as well as political, environmental, sociocultural, and technological environments of the countries that we are considering.”
Mike interjects, “Well, that’s something we should consider, but it’s not the only way to analyse this type of project. This is such a big decision and we need to give as much information as we can.”
You reply, “Great point, Mike. We should look at this from a couple of different angles.”
The next step in your strategic marketing plan is to determine the tools that are needed to conduct an analysis of the industry and competitors. Complete the following:
- What are the best tools to use in this situation?
- Provide a brief summary of at least 2 of these tools.
- Why do you think these are best ways to analyse the market?
- How will you use these tools in your plan?
Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:
- What did you learn from your classmate’s posting?
- What additional questions do you have after reading the posting?
- What clarification do you need regarding the posting?
- What differences or similarities do you see between your posting and other classmates’ postings?
You enter your meeting with Mike and Tiffany to hear them discussing the tools that they found to conduct an analysis of the industry and competitors. “Mike, there are so many more tools than I even realised to give us some good data,” Tiffany states.
“I know,” Mike says. “That’s why I wanted to take some time to look at our options and figure out what information we really need to support the board’s decision.”
Mike and Tiffany both found some great tools from their research on the subject. Complete the following:
- Based on your classmates’ discussion posts for Week 2, do you still believe the tools that you selected will work best for a global strategy? Why or why not?
- What evidence do you have to support your decision?
- How would you refute the people who chose an additional tool rather than one of the tools that you selected?
- Based on the tools that you selected, provide a brief analysis of your market, using those tools.