MKT603 assignment 1

AssignmentsThe following Assignments should be completed and submitted to the course faculty via the learning platform for evaluation and grading. Submit your responses to these questions in one WORD document. List the question first, and then your response.For each question below, try to find at least one related outside scholarly reference using the university’s online library resources available to you from the main online learning platform home page. Be sure to properly cite your sources, both in-text and with a reference list at the conclusion. If you use an online source to support your answers, you must provide a properly formatted link to the source. You may use MLA, APA, or Chicago citation formats, but be consistent and make sure your sources are credible.Assignment Questions1. Explain what is meant by the term “the marketing concept”. Under this concept, what is the principal aim of marketing?2. How is the concept of strategic planning related to marketing? Provide a practical example to depict this relationship.3. What is a mission statement? Provide a practical example. What are the basic questions that must be answered in a mission statement? Can you think of any others that should be addressed?4. Describe several strategies that firms can choose among. What do you think the strategy should be for McDonald’s if it wants to grow in the U.S.?5. What are the basic elements of a situation analysis? How can this approach to strategy lead to increased competitiveness? Provide a practical example.