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Case studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses.
Case studies are an important learning strategy in business
Unit 5 Case Study.InstructionsCase studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.
Option 2: Caterpillar (pp. 394–395)
Firstly, Using segmentation strategies, what are the target market(s) for Caterpillar?
Secondly, How does this relate to their brand management strategies?
Thirdly, Who are the top three competitors of Caterpillar, and what are their advantages/disadvantages with respect to their competitive product/service strategies?
Fourthly, What were some of the key steps that made Caterpillar the industry leader in earth-moving machinery?
Further, Explain how Caterpillar’s products differ from competitors.
Also, Discuss Caterpillar’s future. What should it do next with its product line?
Finally, Where is the future growth for this company?
In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings. Your APA-formatted case study should be a minimum of 500 words in length (not counting the title and reference pages). You are required to use a minimum of three peer-reviewed, academic sources that are no more than 5 years old (one may be your textbook). All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations.
Marketing Mix of Caterpillar
The marketing-mix model is applied to discuss the Marketing Strategy of Caterpillar.
Product; This Marketing Strategy element reflects the solution to the customers’ needs. Caterpillar should develop unique product design, name and features to stand out in the competitive market. Following factors should be considered to develop the product strategy- quality, variety, features, packaging, brand name and augmented services.
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