1. In each situation below, highlight the best approach (Point of Difference or Point of Parity)? o In a relatively price sensitive market POP POD o When the firm enters an established and mature market POP POD o When the firm and is a fast-growing market POP POD o When there is a diversity of needs, even when looking at fairly narrow market segments POP POD o When the firm is a weak competitor POP POD o where the firm already offers multiple products POP POD o When the firm as a market leader POP POD

o Part 2 of question 1: In your own words, why would a brand use a POD or POP to help define their particular marketing plan? Provide an example

2. What does SMART stand for and how might you use this strategy to help define your plan?

SMART stands for specific, measurable, achievable, relevant, and time-bound.

3. Marketing can also help shape a companys entire way of regarding its customers, fostering an approach based on value and customer satisfaction. What are marketers are concerned with to achieve your goals in managing marketing needs?