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Revision of Vision/Mission Statement, Code of Ethics

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5.1 What role, if any, does the Internet play in market segmentation? Provide at least one specific example and briefly discuss.

6.1 How often should an organization's vision/mission be changed in light of strategy evaluation activities? Explain you rationale.

7.1 If you owned a small business, would you develop a code of business conduct? If yes, what variables would you include? If no, how would you ensure that your employees were following ethical business standards?

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Solution Summary

The role of Internet in market segmentation and the reasons for segmentation is examined. Reasons, how and when an organization's vision or mission statement should be revised is provided in the solution. The expert provides the factors to consider in developing a code of conduct, how to implement code of conduct. The solution is 601 words with 5 non-APA references.

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5.1. Whatever type of product or service is being sold, the Internet plays a vital role in marketing. Almost all people are not attuned to their computers, laptops, smartphones and gadgets for connectivity. Regardless of the concepts, tools, tactics or strategies, companies will always want to maximize their assets and discover ways to find the potential customers and to do this, they need to segment their market to be able to deliver the appropriate marketing strategy for them.
The Internet is an open market wherein websites start with a broad market that has a wide selection of visitors where some would be interested in its products and services while others wouldn't. This is the reason why it is important to segment the market online: to be able to provide the appropriate marketing strategy to a group of users/people with similar or related interests, characteristics and needs. Once it has segmented the market, it can ...

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