Strategic Marketing Management Essay Example | Topics and Well Written Essays - 500 words

Strategic Marketing Management - Essay Example However, it should be noted that portfolio analysis tools should be applied with caution as each of the individual technique has limitations. These are further elaborated on the discussion of the different tools. The three main portfolio planning tools are The Boston Consulting Group Growth-share Matrix, General Electric Market Attractiveness Competitive Position Model, and Shell Directional Policy Matrix. The Product Life Cycle (PLC) as a portfolio analysis tool highlights four stages in a product's life cycle-introduction, growth, maturity and decline. This technique stresses that products life is limited and each stage in the life cycle offers different levels of potential gains. Thus, companies should employ the right strategies to maximize cash flow. PLC is valuable as a marketing tool because it emphasizes product termination, growth projections, different marketing objectives and strategies in each stage, product planning, and dangers of overpowering. However, it is also recognized that PLC is limited as each product follows a unique life cycle (e.g., fads and classics), PLC is the result of marketing efforts and not the cause, the time span of each stage is unpredictable, and misleading objectives and strategies. The PLC can always be a good tool choice for compani

Compare and Contrast Research Methods Paper Example | Topics and Well Written Essays - 1250 words - 1

Compare and Contrast Methods - Research Paper Example research, the first thing that usually takes place is the identification of the topic to be researched on and the method/approach to be used in conducting the research. Normally there are four main approaches and research methods namely quantitative, qualitative, pragmatic/mixed methods. This paper will compare and contrast these research approaches and methods with others used in contemporary business research such as case studies, ethnography, focus groups, and informal and in-depth interviews. Quantitative research is among the most commonly applied research method, and is based on positivism. It involves the collection of data, which is then converted into numerical forms and calculated to give results from which conclusions are made. This type of research usually goes through a number of processes. The first process usually involves the formulation of hypotheses. A hypothesis in this case refers to the question that the research intends to address and involves predicting a possible outcome of the research. However, in order to conduct this research and verify the hypothesis, a number of instruments are normally used which include, among other things, observation checklist, computer tests or paper. Data collection is usually done using various methods such as interviewing, questionnaire, observation and computer packages among others (Johnson, 2008). Quantitative research is founded on an premise that only a one truth exists, which is independent of the researcher’s assumptions. This type of research is also based on objectivity since researchers are expected be impartial as regards their behavior attitudes and presence so as not to influento impact the research outcome. As a research, this school of thought requires the researchers to evaluate their methods and conclusions so as to identify any bias in the result. In this research, researchers are expected to go the extra mile to make sure that what is measure is really, what is supposed to be