Discussion Board
1.When studying Marketing, it is important to acknowledge that many interrelated forces and decisions influence the level, growth and sustainability of profits. If you or other managers in the industry are clever enough to identify strategies that yield a windfall to shareholders each quarter, there is no guarantee that these profits will be sustained in the long run. You must recognize that profits are a signal—if your business earns superior profits, existing and potential competitors will do their best to get a piece of the action. It is constructive to also think about the conceptual framework for thinking about some of the factors that impact industry profitability.
The “five forces” framework pioneered by Michael Porter, organizes many complex managerial economics issues into five categories or “forces” that impact the sustainability of industry profits: (1) entry, (2) power of input suppliers, (3) power of buyers, (4) industry rivalry, and (5) substitutes and complements.
Discuss how these forces influence or can influence your decision as a company (explain one factor for each)
Based on your selection, highlight the connections among these forces
2.Think of an idea for a new product or service (could be for an existing company) . Who would be the target market(s) and how would you position your offering? support with references from outside readings or examples.
3.Direct to consumer advertising for pharmaceuticals is a pull strategy, designed to get consumers to ask their doctors to prescribe certain medications. What are the pros and cons of this practice? Are these always pros and cons to pull strategies? What might the pros and cons be for push strategies involving pharmaceuticals?
4.Write a press release about special activities your college or university is doing to help the environment or community. Saint Peters University
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