Another great busy week, with lots of time invested in a benchmarking research for this week's case study in my MBA program. In my discussion question this week, I chose to talk about the six reasons customers buy online, according to authors Kerin, Hartley, Berkowitz, & Rudelius (2004): convenience, choice, customization, communication, cost, and control. It was an intense discussion with other students. Other discussion questions posted by students also allowed excellent learning opportunities, by reading about different standpoints and experiences.
I liked also the food for thought threads initiated by the instructor; they promoted good discussion as well. The discussions on the case study, the commpany situation and assumptions, possible solutions and implementation were vital to grasping this week's concepts. The discussion on alignment between product development and firm's strategy were a highlight. As a certified project management professional, I enjoy seeing how critical strategy implementation is, and how important is to know the project management discipline and its relationship with successful strategies. The importance of involving stakeholders was well stressed.
A review of the 4 Ps of marketing mix was important, especially when reviewing the reasons for new product failures - certainly things that need to be taken in consideration when planning solutions. The company in the case study needs to be careful on things such as "insignificant point of difference", "poor execution of the marketing mix" and "incomplete market and product definition".
Ready for another week of learning!