Name a company that is a second-mover?

Answer: Google pad, Samsung

Name a company that is a first mover?

Answer: Apple I Pad

What are the advantages and disadvantages of being a second mover?

The downside of being a second mover is that you spend a lot of time trying to catch

up with the innovators in terms of sales and revenue.

It's more challenging to capture market share

when the first mover has established a loyal customer base.

How would you describe second-mover strategy?

Answer: 

The second mover follows the lead of the innovator, enhance the unique advantage

of being able to learn from the mistakes and successes of the first mover, typically,

at a much lower cost than that of the first mover.

What are the advantages and disadvantages of being a first mover?

They lead the market by introducing new products and services.

Well, these often results and strong brand recognition, customer loyalty,

and dominate market share, it also cost a lot to be the leader.

And this often leads to diminished profit over the long-term even when revenues are high.

How would you describe first-mover strategy?

Answer: An innovative organization leads its industry in new developments. Innovators use a corporate level approach, which has some decided benefits, primarily developing long-term relationships that can lead to being a market winner.

What are the two elements of every marketing strategy?

Answer: Target market and marketing mix.

What is the purpose of a marketing plan?

Some companies craft a separate document covering marketing strategies that includes a more in-depth analysis of their marketing goals and objectives. It includes an analysis of the size of the market segment and the potential growth rate of the total market. It identifies the strengths and weaknesses of competitors and demonstrates how the company intends to set itself apart from competitors. The marketing plan also provides a detailed description of the products and services, including how the products and services benefit their customers.

What is the difference between a business plan and a marketing plan?

The business plan provides a wide overview of the business, which includes information on staff, operations, location, marketing and financial aspects, as well as clearly outlined missions and goals

The marketing plan details actions that achieve the company's missions and goals. This plan identifies the business risqué; price points, target markets and competition. It explains how the business generates customers through advertisements, trade show participation and new referrals.

What is the difference between strategic and tactical planning?

Answer: strategy involves planning a company's next move, and tactics involve physically carrying out the plan.

Why is interactive marketing an important tool for marketers?

Answer: is a one to one marketing process that reacts and changes based on the actions of individual customers and prospects. This ability to react to the actions of customers and prospects means that trigger based marketing is dramatically more effective than normal direct marketing.