Small Business Management

QUESTION 1

The Ansoff Matrix, also called the Product/Market Expansion Grid, is a tool used by firms to analyze and plan their strategies for growth. The matrix shows four strategies that can be used to help a firm grow and also analyzes the risk associated with each strategy.

Explain the 4 (FOUR) strategies of the Ansoff Matrix. (25 marks)

You are Jane Smith, Marketing and Sales Director of MedTech, the global

pharmaceutical company. You receive the following email:-

From: John Robertson, Managing Director

To: Jane Smith, Global Marketing and Sales Director

Hi Jane,

Its been five years since we got approval for the new cancer drug, recruited

the salesforce and got it into the market. Sales have been good but having

looked at the latest figures I would have hoped they would be much higher by

now.

You are Jane Smith, Marketing and Sales Director of MedTech, the global

pharmaceutical company. You receive the following email:-

From: John Robertson, Managing Director

To: Jane Smith, Global Marketing and Sales Director

Hi Jane,

Its been five years since we got approval for the new cancer drug, recruited

the salesforce and got it into the market. Sales have been good but having

looked at the latest figures I would have hoped they would be much higher by

now.

QUESTION 2

Discuss the various functions of customer relationship management (CRM) and its benefits for a small business organization.

(25 marks)

Discuss the advantages and disadvantages of Medtech paying the

salesforce on a commission-only basis. What specific changes would

you recommend to John and wh

QUESTION 3

Define and compare the different roles and characteristics of a modern leader and a manager in the context of small businesses.