Running Head:STRATEGIC MARKETING MANAGEMENT

Strategic Marketing Management

1. What 'orientation' has Richard adopted and what evidence is there in the case study to support your answer.

Richards business by comparison was low and variable. Richard adopted a publishing company specializing in the production of magazines for the medical profession. For by paid advertising by pharmaceutical companies. He said he thinks he did pretty well in publishing at his last meeting,. Futher Kevin said doctors should prescribe medicines without brand whenever possible now, so there is little interest from pharmaceutical companies advertise their branded products for them.His publications were dependent on advertising, so that when prescription of generic drugs is entered, I went out the company is. And the evidence to support this was that revenue dropped by 25%, which was enough to make the publication unprofitable.

2 Kevin may be right to claim that business plans could have helped Richard. In what ways do you think Richard could have benefited from abusiness plan in both of his businesses?

Richard could have benefited from a business plan if he would have listend to Kevin, Well, he did not want to push my own profession, but he thought a business plan would have told you about these problems in advance”. If he had to put together the kind of five-year plan that you produce each time he made a decision, I am nowhere fast. In fact, when I discovered this toy company to sell, there was another larger organization concerned.

According to kevin his accountant was verifying the reported profits and balance sheet before he bought the company, So he knew what he was getting. And the benefits are there, like the previous owner said they would. He just forgot to tell about the cash flow. Then he said he almost went bankrupt in the first year ...