Chapter 3
.docx
keyboard_arrow_up
School
University of Massachusetts, Boston *
*We aren’t endorsed by this school
Course
630
Subject
Marketing
Date
Feb 20, 2024
Type
docx
Pages
2
Uploaded by SargentWolverinePerson656 on coursehero.com
Part I
: Chapter 3: Review Question(s) 1, 3 & 5
1.
What is a business case?
A business case is not a budget or the project plan. A business case must provide senior management with all the information needed to make an informed decision as to whether the project should receive funding in order to continue on to the next phase.
3.
Why should a project align with an organization’s strategy, vision, and mission?
The first step for starting a project should be to define the project’s goal or measurable organizational value (MOV). In short, a project begins by defining its measure of success.
To provide real value to an organization, a project must align with and support the organization’s vision, mission, and strategy. For example, a top-down approach begins with an organization’s vision and mission statements. A vision statement articulates and inspires purpose, while mission statement clarifies what the organization does, who they do it for, and how or why they do it. MOV needs to align with and support the organization’s strategy and overall vision and mission in order to provide value to the organization.
4.
Why is it important that the MOV provide value to the organization?
A project’s MOV becomes a measure of success, while objectives are important, but not necessarily sufficient conditions for success. For example, a project can be completed on time, within budget, and be defect-free but still it may not be of any use or value to the organization. On the other hand, a project that is late and over budget can still be considered a success if the benefits of the MOV outweigh the costs associated with the project being late or over budget. The only true measure of project success is the value defined in the MOV.
Part II:
The following article covers a series of project failures, choose one and explain how the
lack of strategic alignment and/or lack of business case contributed to the project's/product's failure.
NEW COKE:
New Coke was the unofficial name for the reformulation of Coca-Cola introduced in April 1985 by the Coca-Cola Company. It was renamed Coke II in 1992, and was discontinued in July 200. Coke had been a dominant soft drink for a very long time. In 1980s Coke’s flagship product’s share was on the decline and Pepsi’s shares were on the rise. Despite huge spends on the advertisement, wide availability of vending machines, global presence, and deeper network of sellers, competitive pricing, and Coke’s market share was slowly slipping away.
Though Coke disputed Pepsi’s findings, it went ahead and did its own blind tests. It was shocking to know that people preferred Pepsi in blind tests than the famous Coca-Cola’s century old secret formula. Coke felt that the audience has changed the way of quenching
the thirst and the time had come to change the long-held formula of secret taste. Coca-
Cola did not market research to see if there was a need for developing a new product, but they were blind to their own customers’ motivations. The research method has to understand the inner subconscious mind than the rational mind to forecast a product’s success or failure. In other words, new Coke was a failed project because the researchers needed to do more than a mere taste test. They needed to understand how people would react when the familiar Coke they loved would be discontinued and replaced by a shiny new upstart. Market research must be handled like a science and an art. Besides that, Coca-Cola ignored their competitors. Coke fell into the trap of Pepsi’ marketing tactic and started to develop a product which was sweeter like Pepsi and thereby losing its uniqueness.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Suggest 2 potential actions that a quantitative analyst could undertake to ensure that the
implementation stage of a project is successful. ( detailed explanation is required)
arrow_forward
Develop three (3) program proposals that you think can help in improving the Job Satisfaction of employees in your company.
(You may develop a new company or use an existing one)
Provide the following details:
COMPANY NAME:
INDUSTRY:
NUMBER OF EMPLOYEES:
PROJECT NAME:
HRM FUNCTION INVOLVED:
OBJECTIVES: (at least three)
HORT DESCRIPTION/ ILLUSTRATION OF PROJECT:
DEPARTMENTS INVOLVED:
PROPOSED BUDGET ALLOCATION:
PROPOSED BUDGET SOURCING:
arrow_forward
Creative Homework/Short Project As a marketing student, you know that large firms often organize theiroperations into a number of strategic business units(SBUs). A university might develop a similar structure inwhich different academic schools or departments areseen as separate businesses. Consider how your university or college might divide its total academic unitsinto separate SBUs. What would be the problems withimplementing such a plan? What would be the advantages and disadvantages for students and for faculty?Be prepared to share your analysis of university SBUs toyour class
arrow_forward
Discuss briefly about:1.1. The importance of financial management in construction project management1.2.The purpose of investment appraisal in construction industry
arrow_forward
Database(patient information systems)
1. Prepare the project background and business rules. Define at least 10 Business rules, the more specific and well-defined business rules will help on the Task 2 preparation.
2.From the business rules, describe the Entity-Relationship Model (ERM) components that consists of the entities, attributes, relationships, and constraints of the project. You also need to identify the mandatory and optional dependencies for the relationships. The number of entities described in the project should be 5 or more.
arrow_forward
Task: Assume that you have been contracted as a marketing consultant by a sports organization, andhave been asked to develop and submit a marketing and sponsorship plan to them. The marketing planis a comprehensive, written framework for strategically obtaining marketing objectives. The sports marketing plan can be written for a single sports product/service, a group of products/services, a newpromotional strategy, or an entire sports organization.
The Marketing and Event Proposal should include the following:
1. Executive Summary - a condensed overview of the marketing plan2. Introduction - Description of the event3. Marketing Strategies:• A strategy for Market Segmentation: What will serve as the basis for segmentation,and why? What is the rationale for selecting the target markets?• A discussion of the Product: What is the core product, what are the productextensions?4. A discussion of the Place the event is held and means of its distribution.5. A discussion and presentation of the…
arrow_forward
Business Plan for Ashford Castle
I. Executive summary
II. Business description
III. Environmental analysis
Resource analysis
Functional plans
Financial projections (potential market size and growth)
VII. Implementation schedule
VIII. Strategy
Risk Analysis
arrow_forward
a. Discuss different approaches to the measurement of project success.
Must discuss the role of the triangle constraints in determining success.• Good answers will discuss client satisfaction as a proxy for success.• Better answers will go further and look at the complications of project success, suchas different stakeholder perspectives.
b. Identify principles and examples of effective project management and discuss howthese can contribute to different elements or definitions of project success.
• The question should be interpreted as “Write about how several aspects of projectmanagement contribute to success, using examples”.• Aspects can mean many things: e.g., planning, risk management, leadership, andmany others. [briefly explain key principles of successful project management – alsothink about PMBOK, prince 2…]• Must provide relevant examples.• Good answers will focus on 3-4 clearly identified aspects.• The aspects chosen must be valid in the context of projects. (E.g.,…
arrow_forward
4b. Describe how we distinguish a project from business as usual. Use examples to support your answer.
arrow_forward
1. Discuss project resources.
arrow_forward
Assignment 2: Business Plan
Word limit: Between 2800 words
Task:
Pursuant to Assignment 1, where you had done a research of an online fashion business, your team is now required to prepare a comprehensive business plan to start a similar business.
Your answer should cover the following aspects:
No. Structure
Word limit (a guide)
1 Registering your business
2 Industry Analysis, Competitor Analysis and Target Customer
3 Marketing Plan
4 Operations and Development Plan 800
5 Management Team
6 Exist Risks
7 Exit Strategy
8 Financial Plan
9 Conclusion
arrow_forward
mangement
case outline for: Fusato v. Washington Interscholastic Activities Association
Background:
issue/facts:
final decision:
agree/disagree:
note
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Do not provide Excel Screet shot rather use tool table
Answer completely.
arrow_forward
Purpose of This Assignment
The Ethics and Social Responsibility competency addresses how to evaluate ethical dilemmas and formulate a defensible
resolution. The final assessment for this competency is to write a paper that addresses stakeholder analysis, rules for ethical
decision-making, ways to cultivate an ethical corporate culture, business sustainability, and Return on Investment (ROI).
Ethics and Social Responsibility Final Assessment: Outline & Rubric
In your paper, you should identify the various ethical dilemmas and identify the stakeholders involved in the dilemma. Since
the stakeholders have different roles and responsibilities, you should analyze the ethical dilemma(s) from their perspective
and identify how the ethical dilemma affects them. You are expected to synthesize what you have learned about ethical
decision-making, as well as the “rules” and relevant theories of ethics and the importance of business sustainability, and apply
that knowledge to this situation.
Item…
arrow_forward
At the first virtual meeting of the team, all members have been asked to make an individual contribution, which will be circulated to other team members prior to the next meeting. Your task is to provide a document which:
• analyses the mission and vision statements of named organizations.
To gain a merit grade you must have a further section in the document which:
• evaluates the impact of a named organization’s vision and mission on its strategy.
To gain a distinction grade you must add another section to the document which:
analyses how external influences affect organizational strategy in a named organization
notes:
Any organization or company you choose and analyze its data with a mention of the link from which the basic data was taken, for example, Amazon, Apple, or any other major company
arrow_forward
.
Q3: Answer A or B
A\ Answer the following
1- A
represents Hierarchical Breakdown of a Project in to element.
2- Resources are different than Expenses
3- A hierarchical structure that identifies the company-wide projects and enables
organizing and management of those projects by means or subdivision or level is:
4- How many types of reports we have in Primavera
5- The finish of the successor activity depends on the finish of the predecessor activity is
referred as
B\ Correct the answer
1- Ponds is the base currency by default in Primavera
2- WBS is a Set of codes to organize the project in the EPS in groups according to
specific categories
3- Activity tab used to apply constraints, select an activity and select the
4- The E.P.S usually reflects the management structure of your Organization
5-A resource is the project personal job titles or skills, such as mechanical engineer,
inspector or Carpenter
arrow_forward
Your final project is written in sections. The first section describes the selected organization by reviewing the organization’s website, annual reports, or other public documents. To ensure confidentiality, the organization’s name can be changed.
1. Provide a thorough overview of the organization and include:
a. Primary Purpose
b. Location(s) and Size
c. Mission and Vision
d. History
e. Conditions in which the organization operates.
f. External environment (i.e., economic, political, social)
g. Internal environment (i.e., structure, complexity, workforce, leadership, culture)
2. Next, conduct an internal and an external analysis of the organization in terms of competencies and competitiveness. Use relevant analysis tools from the literature and justify your choice of tools.
arrow_forward
Respond to the question with a concise and accurate answer, along with a clear explanation and step-by-step solution, or risk receiving a downvote.
Question 17 The following diagrams represent one type of project status report. Explain the meaning of each diagram and tell me which diagram is preferable. Progress F -no learning time Time Paragraph V B I Progress U v A/ About 30% of the work done 70% to 80% of the time gone by Time O + ...
arrow_forward
S. For these projects, you will be placed in the position of a strategist tasked to complete an analysis or develop a strategy plan for your company.
Read this message from your manager to learn about the parameters of the project.
TO: [Your Name]DATE: [Today's Date]FROM: [Supervisor Name]SUBJECT: Supply chain & PEST analysis
Next month, during the quarterly board meeting, I will present the external factors impacting our company and how they will influence its growth.
Please complete a value chain analysis of our company and a PEST analysis of the external factors impacting our company. Then, summarize the results of your analysis and deliver that summary to me before the end of next week.
In your summary, please include a prediction of how those factors might impact our company’s performance moving forward, recommendations for addressing any negative factors, and visual graphs and charts that I can use during the presentation.
Your analysis and summary will be a key…
arrow_forward
6.Differentiate one of these risk assessments that may be affected by psychological, ideological, religious orotherwise subjective factors, which impact rationality of the process.A. Individual risk assessmentB. Systems risk assessmentC. Simple risk assessmentD. All the above
7.All the statements below involve Risk mitigation EXCEPT
A. Obtaining insurance against lossB. Developing system standards (policies, procedures, responsibility standards)C. Performing contingent planningD. Identification of project risks
8.Choose the TRUE statements regarding Risk Assessment.I. Identify hazards and risk factors that have the potential to cause harm.II. A source or a situation with a potential for harm in terms of human injury or ill health.III. Possibility of suffering harm or injury.IV. Analyze and evaluate the risk associated with that hazard.
A. I, III & IVB. I & IIIC. I & IVD. I, II & IV
9.Identify two correct answers for Hierarchy of ControlI. EliminationII.…
arrow_forward
Q1. What are the types of SWOT Analysis that the firm can perform? Explain what this analysis means, and the stages involved in detail?
Q2. Write a case study "example" of a firm or company performing SWOT analysis and what are the processes could be performed in each stage of this analysis?
arrow_forward
11.1. Three alternative plans for expanding a municipal water distribution system will each
meet demands for water and maintain required pressures. Each plan has a project
life of 30 years. The initial investment cost and annual operation and maintenance
cost for each plan are as follows:
Initial
investment
Annual operation
and maintenance
Plan
cost ($)
cost ($)
A
120,000
28,000
B
160,000
24,000
C
290,000
10,000
Select the economically optimum plan based on a discount rate of 8 percent. Perform
the evaluation alternatively based on present worth and annual worth.
arrow_forward
3. Jennifer has recently been asked to manage an
office refurbishment project. She finds out that
the chief financial officer of the company is
resisting the project. The chief financial officer is
a key project stakeholder. What must Jennifer do
first?
A. Seek expert judgment from the project initiator.
B. Conduct a team meeting to discuss this issue
C. Seek support from the project sponsor to force
project decisions.
D. Analyze options that might change or influence the
chief financial officer's perception.
Moz
19
Sep-21
MORE Ineight Support
arrow_forward
Assignment Description and Instructions:
As a group of aspiring entrepreneurs, design a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company). The Business is a Land Tours called Caribbean Eco-Adventures
Key Elements of the Business Plan Business and Industry Profile This section provides an overview of the industry and market segment. • Market size.• Growth trends.• Strength of major firms.• Significant industry trends.Business Strategy This section describes how the company will gain a competitive advantage.
arrow_forward
Part (I) Fills In The Blank Space
1. ________________are factors that limit the solution of the problem.
2. Many feasibility studies are disillusioning for both _________and________.
3._______________: Not all projects submitted for evaluation and review are judged acceptable.
4. _________:This strategy obtains information from users by simply asking them about the requirements.
5. ______________is the most frequently used method for evaluating the effectiveness of a candidate system.
6. _______________centers around the existing computer system (hardware, software, etc.)
7. _____________:People are inherently resistant to change, and computers have been known to facilitate change
8. The purpose of the preliminary investigation is to evaluate ___________________.
9. ________and_______ traditionally do not share a common orientation toward problem definition..
10. ________This simply means communicating the decisions already reached on system recommendations
arrow_forward
1. Describe, in detail, the advantages of using project management software. 2. Distinguish between the Predictive and Iterative life cycle of a project.
arrow_forward
Creative Homework/Short Project. As a marketing manager, you must consider whether to delay the production and introduction of a new automobile because of a small problem with the door locks; they could become nonfunctional when temperatures drop very low. Using (1) the utilitarian approach, (2) the rights approach, and (3) the common good approach, what would the different decisions be?
arrow_forward
TASK 1
Create a business following the format below :
Business name:
Tagline:
Nature of work/business:
Possible Problem
1.
2.
3.
Solutions
TASK 2
Create a venn diagram, stating the similarities and differences of an entrepreneur and can
employee in terms of their responsibility in business.
Venn Diagram
EMPLOYEE
SIMILARITIES
ENTREPRENEUR
arrow_forward
Assignment 2. Write an essay (1 page A4) on the topic:
“Business Ethics and Commercial success what would you prefer?”
arrow_forward
Question 3
What is a good strategy for stakeholders who have high influence and interest in a project?
Answer saved
Marked out of
Select one:
1.00
a. Send them monthly project newsletters.
P Flag question
b. Engage and consult regularly.
C. Keep informed and consult on interest area,
d. Avoid them.
e. Ignore them
Question 4
Identify the false statement regarding the stakeholder?
Answer saved
Marked out of
Select one:
1.00
a.
P Flag question
A stakeholder has a vested interest in a company and can either affect or be affected by a business
operations and performance.
b. Stakeholders may not be affected by the outcome but may perceive that they could be affected
by the outcome.
C. All stakeholders could be identified before the project execution begins.
d. Stakeholders may have a positive or negative interest in the success of the project
e. Stakeholders may be people, or organizations
O O O
arrow_forward
28-
A plan is prepared that is long-term in nature and it was decided what activities will be done for achieving the plan. It was also decided how many employees will be needed, capital for achieving goals, and what type and how big of an office or land is needed for achieving this plan. Which hierarchy of plan is discussed?
a.
Strategy
b.
Policies
c.
Objectives
d.
Procedures
arrow_forward
Karam read the attached memo and could not understand it. Which word is considered as a vague
word for Karam?
Date: April 4, 2021
To: Studenty of Technical Writing Course
From: Fathi Anayah, PhD
Subject: Report
There will be a meeting at PTUK soon. Plaese prepare a short
report of your research outcomes. Make sure necessary data
and elements are included.
Select one:
a. Plaese
b. outcomes
c. necessary
d. meeting
arrow_forward
1. Why is necessary to identify and include stakeholders in a project? List several methods that you could use to identify stakeholders in a project?
2. What is risk management?
3. What are some ways which you could use to collect system requirements?
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Related Questions
- Suggest 2 potential actions that a quantitative analyst could undertake to ensure that the implementation stage of a project is successful. ( detailed explanation is required)arrow_forwardDevelop three (3) program proposals that you think can help in improving the Job Satisfaction of employees in your company. (You may develop a new company or use an existing one) Provide the following details: COMPANY NAME: INDUSTRY: NUMBER OF EMPLOYEES: PROJECT NAME: HRM FUNCTION INVOLVED: OBJECTIVES: (at least three) HORT DESCRIPTION/ ILLUSTRATION OF PROJECT: DEPARTMENTS INVOLVED: PROPOSED BUDGET ALLOCATION: PROPOSED BUDGET SOURCING:arrow_forwardCreative Homework/Short Project As a marketing student, you know that large firms often organize theiroperations into a number of strategic business units(SBUs). A university might develop a similar structure inwhich different academic schools or departments areseen as separate businesses. Consider how your university or college might divide its total academic unitsinto separate SBUs. What would be the problems withimplementing such a plan? What would be the advantages and disadvantages for students and for faculty?Be prepared to share your analysis of university SBUs toyour classarrow_forward
- Discuss briefly about:1.1. The importance of financial management in construction project management1.2.The purpose of investment appraisal in construction industryarrow_forwardDatabase(patient information systems) 1. Prepare the project background and business rules. Define at least 10 Business rules, the more specific and well-defined business rules will help on the Task 2 preparation. 2.From the business rules, describe the Entity-Relationship Model (ERM) components that consists of the entities, attributes, relationships, and constraints of the project. You also need to identify the mandatory and optional dependencies for the relationships. The number of entities described in the project should be 5 or more.arrow_forwardTask: Assume that you have been contracted as a marketing consultant by a sports organization, andhave been asked to develop and submit a marketing and sponsorship plan to them. The marketing planis a comprehensive, written framework for strategically obtaining marketing objectives. The sports marketing plan can be written for a single sports product/service, a group of products/services, a newpromotional strategy, or an entire sports organization. The Marketing and Event Proposal should include the following: 1. Executive Summary - a condensed overview of the marketing plan2. Introduction - Description of the event3. Marketing Strategies:• A strategy for Market Segmentation: What will serve as the basis for segmentation,and why? What is the rationale for selecting the target markets?• A discussion of the Product: What is the core product, what are the productextensions?4. A discussion of the Place the event is held and means of its distribution.5. A discussion and presentation of the…arrow_forward
- Business Plan for Ashford Castle I. Executive summary II. Business description III. Environmental analysis Resource analysis Functional plans Financial projections (potential market size and growth) VII. Implementation schedule VIII. Strategy Risk Analysisarrow_forwarda. Discuss different approaches to the measurement of project success. Must discuss the role of the triangle constraints in determining success.• Good answers will discuss client satisfaction as a proxy for success.• Better answers will go further and look at the complications of project success, suchas different stakeholder perspectives. b. Identify principles and examples of effective project management and discuss howthese can contribute to different elements or definitions of project success. • The question should be interpreted as “Write about how several aspects of projectmanagement contribute to success, using examples”.• Aspects can mean many things: e.g., planning, risk management, leadership, andmany others. [briefly explain key principles of successful project management – alsothink about PMBOK, prince 2…]• Must provide relevant examples.• Good answers will focus on 3-4 clearly identified aspects.• The aspects chosen must be valid in the context of projects. (E.g.,…arrow_forward4b. Describe how we distinguish a project from business as usual. Use examples to support your answer.arrow_forward
- 1. Discuss project resources.arrow_forwardAssignment 2: Business Plan Word limit: Between 2800 words Task: Pursuant to Assignment 1, where you had done a research of an online fashion business, your team is now required to prepare a comprehensive business plan to start a similar business. Your answer should cover the following aspects: No. Structure Word limit (a guide) 1 Registering your business 2 Industry Analysis, Competitor Analysis and Target Customer 3 Marketing Plan 4 Operations and Development Plan 800 5 Management Team 6 Exist Risks 7 Exit Strategy 8 Financial Plan 9 Conclusionarrow_forwardmangement case outline for: Fusato v. Washington Interscholastic Activities Association Background: issue/facts: final decision: agree/disagree: note Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Do not provide Excel Screet shot rather use tool table Answer completely.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning