Question

1) What is the role of marketing in strategic planning process? Explain how marketing works with its partners to create and deliver customer value. (Chapter-2)

2) Write an essay on how post COVID 19 will influence the Consumer buying behavior related to their Social class,explain by giving an example of a product. (Chapter-5)

3) Discuss how companies differentiate and position their products for maximum competitive advantage. (Chapter-7)

Answer 1

1. Marketing provides input information for strategic planning process. It is through marketing, that the organization realizes the market related opportunities and threats, risks, customer feedback and demand along with forecast about any changes in the business world. This all information helps the organization to plan a strategy to utilize the opportunities and mitigate risks. Thus, strengthening strategic planning process, i.e. increasing the effectiveness of strategy.

Marketing helps to promote products and services. It either directly contacts customers or helps make strategic alliances with intermediaries for creating a more sustainable value chain. Such as managing the intermediaries, supply chain management, taking customer feedback and analyzing it to suggest viable solutions to the organization. Also, managing the supply as per demand, and creating demand to maximize profitability. Developing franchises or dealers or other strategic partners to serve customer better. Thence, create and deliver customer value.