Strategic Marketing & Revenue Management
Strategic Marketing & Revenue Management
(Strategic Marketing & Revenue Management)
Discussion 1
| Cover Letter |
As you end this course, reflect on the learned objectives by developing a cover letter for a job application for a marketing management position. Illustrate your understanding by synthesizing your response to the Week 2 Marketing Careers and SWOTT Analysis discussion.
For this discussion, you will explore the components of a cover letter, reflect on your most relevant skills, and assess what action steps you can take to make your cover letter stronger.
- The Cover Letters (Links to an external site.) resource contains step-by step instructions for creating a cover letter including: formatting suggestions, tips regarding how to highlight your best skills and qualification and how to tailor your letter for specific job you wish to apply to.
- For more in-depth guidance for writing a cover letter, please watch the Creating a Compelling Cover Letter pre-recorded webinar (58 minutes).
In your initial post
- First, identify a position on http://www.indeed.com/ (Links to an external site.) that interests you as a potential job opportunity. Using the job description, identify three skills or qualifications that match your background and type them out.
- Next, using the format suggestions from both the webinar and cover letter sample, create a three- to four-sentence paragraph that communicates the three matching skills and/or competencies you would like to highlight for the employer. The goal is to tailor the body of your cover letter to the position you seek.
- Paste the link of the job description you are interested in and the three- to four-sentence paragraph that you have written for this job application into the discussion forum so you can obtain feedback from your classmates.
Discussion 2
| Marketing Control |
Why would an organization implement marketing controls in order to determine whether or not the marketing plan is performing up to expected results?
Text
Wood, M. (2008). The marketing plan handbook (5th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
(Strategic Marketing & Revenue Management)
Discussion 1: Cover Letter
Job Opportunity Identified:
Marketing Manager at [Company Name] – Link to job description on Indeed
Matching Skills and Qualifications:
- Proven track record in creating and implementing strategic marketing campaigns that have increased brand awareness by over 30%.
- Expertise in utilizing SWOTT analysis to identify opportunities and threats, leading to actionable marketing strategies.
- Strong leadership and communication skills with experience in managing cross-functional teams to achieve organizational objectives.
Cover Letter Paragraph:
I am excited to apply for the Marketing Manager position at [Company Name]. My experience in designing and executing strategic marketing campaigns has consistently driven brand growth, including a 30% increase in awareness for my previous employer. Leveraging my proficiency in SWOTT analysis, I identify key market opportunities and threats, turning insights into actionable strategies that deliver measurable results. Additionally, my leadership in managing diverse teams has fostered collaboration and innovation, aligning team efforts with company goals. I look forward to the opportunity to bring this expertise to your organization and contribute to its continued success.
Discussion 2: Marketing Control
Why Implement Marketing Controls?
Marketing controls are essential for ensuring that a marketing plan is aligned with organizational goals and delivering expected results. They help organizations monitor the effectiveness of their strategies, identify areas needing improvement, and adjust tactics to maximize return on investment (ROI). Controls also provide a mechanism for accountability, enabling businesses to track progress against key performance indicators (KPIs).
Capitation Payments in Revenue Budget Forecasting
Capitation payments, a fixed amount paid per patient, per period, regardless of the services provided, significantly impact a healthcare organization’s revenue forecasting and budgeting processes.
Pros of Capitation:
- Predictable Revenue: Capitation ensures a steady and predictable income stream, aiding in financial planning.
- Cost Control: Encourages providers to focus on preventive care and efficient resource allocation, potentially lowering healthcare costs.
- Patient-Centric Care: Promotes comprehensive care management, aligning provider incentives with patient outcomes.
Cons of Capitation:
- Financial Risk: Providers bear the financial risk if the cost of care exceeds the capitated payment.
- Potential for Under-Service: There may be a tendency to minimize services to control costs, potentially affecting care quality.
- Complex Administration: Managing capitation agreements and ensuring adequate service delivery can be administratively challenging.
By implementing marketing controls and carefully analyzing the impacts of capitation payments, organizations can achieve a balanced approach to managing financial performance and delivering high-quality services.
Reference:
Wood, M. (2008). The marketing plan handbook (5th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
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