Marketing
BabyTazz21
DiscussionPost4of4_DiscussandApplyCourse-RelatedKeyConceptsandKnowledge-F2021.docxDiscussion Post 4 of 4 – Discuss and Apply Course-Related Key Concepts and Knowledge (Note: Two Posts Required)
1A. Payoff Table and the Value of Information (30%):
Make sure to provide sufficient details and procedures so that it can help you and your readers double check and follow easily. The required and/or suggested readings listed below can help you address this question.
Based on the above information,
(1) Compute the “expected monetary value” (EMV) for each alternative.
(2) Compute the EMVcertainty.
(3) Compute the EMVPI (EMV of Perfect Information) and explain what the implication based on your EMVPI result.
-------------------------------------------
Required Reading for 1A (Click the hyper link to see or download a full PDF article. Please share with your professor if you find better resources related to this assignment.):
Kerin13eCH03-Marketing Decision Making and Case Analysis (Specifically, “Step 4: Identify the Best Alternative” from Page 11 to Page 18 in this attached PPT document.)
-------------------------------------------
1B-2: Specialist vs. Generalist Debate
In running a business and/or building your career, you’re likely asked to choose one of two tracks: to become a specialist or to pursue the path of a generalist. This assignment asks you to use different perspective(s) and apply what you have learned to address:
1) Under what conditions do you prefer being a specialist or generalist (or some type in the middle or even a new type of preference if any)? Please provide sufficient details to support your arguments.
2) Please describe, predict, and justify how a preference between being a generalist vs. specialist (or some type in the middle or even a new type of preference if any) would or should look like in the next five or ten years (e.g., ratio changes over time). To be feasible, you can address this question by focusing on a chosen scope (e.g., a narrowed and in-depth one vs. a broad and big picture), perspective, domain, and time span (next 5 years vs. next 15 years).
These perspective(s) can come from a concept/theory (e.g., marketing concept, holistic marketing concept, value co-creation literature, chaos theory, life history strategy, resource-based theory/view, strategy as practice, politics, power, individual vs. group identify), a paradigm (e.g., service dominant logic, co-creation of value), or even a new perspective you are proposing. Students are advised to think of other possible perspectives and search for additional articles when needed.
