...Nike Marketing Mix James Thorogood MKT/421 April 15, 2014 Dean Tripodes Nike Marketing Mix The controllable variables that a company puts together to satisfy their target group. That is how the marketing mix is simply stated. These variables can be placed in four primary categories: product, place, promotion and price otherwise known as the four Ps of the marketing mix. The goal of the marketing mix is to tailor these variables so that the target group/customer has every need met. The customer is the central focus of every marketing strategy. Every new business idea or concept should be birthed with a target group in mind, and development of these ideas and concepts is fostered through the marketing mix. Once the company has shaped these variables into what their customers want then they are well on their way to being a successful company. Nike is one company for decades that has proven that they understand want their customers are attracted to, they have proven by their 43% market share that they get it. Nike has established itself as one the top names in the sports world and it’s because they continually reinvent themselves to satisfy ever changing needs of sportsmen. Nike has various strategies that target athletes, sportsmen, celebrities, colleges and athletic teams from T-ball to the Olympics. Targeting large group like NCAA Division I athletic programs and professional teams has been highly successful because typically the entire team will wear the...
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...decreases its total assets and total stockholders’ equity. 4. You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent. • 97.5% • 95% • 2.5% • 5% 5. __________involves ensuring proper strategic controls and organizational designs. • Corporate governance • Strategy implementation • Business-level strategy • Corporate-level strategy Find the Capstone Final Examination Part 2 answers here BUS 475 Capstone Final Examination Part 2 6. A post-closing trial balance will show: • only income statement accounts • zero balances for balance sheet accounts • only balance sheet accounts • zero balances for all accounts 7. The...
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...Strategic Plan, Part III: Balanced Scorecard BUS 475 Alicia Joseph May 7, 2012 James Sternieri – Instructor Strategic Plan, Part III: Balanced Scorecard 2 One may ask, “What is a Balanced Scorecard?” “A Balanced Scorecard is a tool that is used in management to completely monitor the performance and access whether smaller goals are consistent with larger and long-term goals, based on the vision and strategies being used” (Kaplan & Norton, 2005). This type of tool can be beneficial for the operation of All Eyes on Me as a startup business. Having a balanced scorecard will allow the following to be identified: the mission statement, the vision statement, the objectives, the values of the company, and mainly the SWOT analysis. The balanced scorecard is often times considered an excellent perspective as it relates to learning the financial perspective, internal perspectives and the consumer. In this paper, I will attempt to discuss the objectives, target audience and performance measures. Also, in this paper, I will discuss the mission, SWOT analysis and vision of All Eyes on Me. Financial Perspectives “While defining the financial perspective, the main concern is the company image as perceived by their stakeholders at a time when they are already successful” (Kaplan & Norton, 2005). All Eyes on Me will have to develop a strategy (marketing) that will show an increase that is compared against its’ competitors. The competition research or market...
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...Strategic Plan, Part III: Balanced Scorecard Rebecca Lanham BUS 475- Integrated Business Topics August 1, 2011 Phyllis Koch 2 Balance scorecard is essential for developing a healthy business growing place. This is a vital key for defining the goals and targets of a company as well as the vision, mission, and the SWOTT Analysis. A Balanced Scorecard is, A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth (Pearce and Robinson, 2009, p. 202). This term paper will relate TL Concrete Services, values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and growth). Financial Perspective/Shareholder Value A strong and well defined vision and mission statement will facilitate the company to achieve its target. The objectives of TL Concrete Services should be implemented as a daily routine so as to increase the performance of the company. The first and foremost responsibility of a company is to seek its customer satisfaction, benefit utilization, increased net revenues, and also to achieve financial stability. To evaluate the financial stability of a company, one should calculate the Operating cost, Earnings per share, growth revenue and return on interest and capital. If we succeed how we will look to our stakeholders Customer Value Perspective. The customers determine...
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...Strategic Plan, Part III: Balanced Scorecard BUS/475 January 21, 2013 Strategic Plan, Part III: Balanced Scorecard For this portion of the business plan, we will use a balanced scorecard of strategic objectives for Mother Nature’s Healthy Eats. Some of these strategic objectives were taken from the SWOTT analysis that was created in part two of this business plan. A balanced scorecard is a set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth (Pearson & Robinson, 2009). After sitting down and reviewing several issues that needed to be improved, the most needed for improvement were put on the balanced scorecard and each objective was given a time frame or percentage of improvement goal. The length of time for the first scorecard is to be met within a one year time frame or less. Each objective has been carefully thought out and what measure will be used to collect the needed information to ensure each objective has been met or what needs to be used to help in obtaining the objective. Financial The first strategic objective for the financial quadrant is to increase revenue and lower costs that will be measured with the financial statements each month and the target for this objective is a 25% increase within one year. The second strategic objective is the competitive position in which Mother Nature’s Healthy Eats is currently in. There is a large amount of competition...
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...Strategic Plan, Part III: Balanced Scorecard BUS/475 Intro A balanced score card is necessary when analyzing the objectives of a strategic plan. Mix and Go will be able to use this method as part of our strategic plan. The four areas of the strategic plan that can be analyzed using the balanced scorecard include: Financial, customer, internal operations, and learning and growth. Each one of these categories will be analyzed separately in order to understand each of their cause and effect relationships. The analysis starts by defining the objectives of each category, and then proceeded by the goals and initiatives of Mix and Go. The scorecard below is in table format to help develop an organized plan for reaching our business objectives outlined in the previous SWOTT analysis. See Score Card Below ------------------------------------------------- Financial Scorecard Objectives | Measures | Targets | Initiatives | Decrease the cost of packaging by offering Eco-friendly merchandise to package food in that is reusable | Increase in the amount of merchandise sold to new customers who return using their own packaging | Frequent repeat business, incentives for going green and helping reduce waste and lower our costs | This can be achieved by actively promoting the benefits of waste reducing and recycling in our store | Lower overall inventory costs while maintaining the highest quality of goods. | Inventory costs should match revenues to support the supply...
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...Shanice Armistad July 15, 2015 BUS/475 Professor Kosicki Business Model and Strategic Plan Part III Business Model and Strategic Plan Part III This paper will showcase how Disney creates and executes its new methods. The balances scorecard is used in order to breakdown different aspects of the company that have been assessed. This method is used by companies of every size, small or large. The balanced scorecard is created with the consideration of goals, profit, growth etc. Disney will be able to gather accurate data but there is the possibility that the data could be unclear. Efforts will be made to put together tactical goals according to the information utilized in the balances scorecard. Financial In order for Disney to continue to grow they will have to stay focused on being a good competitor and having a competitive strategy. This will allow the company to consistently grow and create new expansions within the company. Disney’s goal is to gain a 2.5% growth rate every other month with new clientele. This will be achieved by hiring and maintain a professional and educated staff of employees that will ensure the best experiences visiting Disney World. Disney plans to add more services to increase the Disney experience starting with personal meetings via web or in person. With this added service new customers will be able to create customized packages depending on their budget and what they would like to do while visiting Disney World. Disney is expecting this...
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...Strategic Plan III Sa’eed Abdul-Karim BUS/475 July 28, 2013 Professor Robert Stokes The goal of Saeed Home Improvement is to give homeowners a one stop home service experience with minimal effort and a stress-free environment. Our vision is to grow our home care concept with an innovative approach and strategic measures that will provide a service that is currently only available to the elite homeowner of the world but at a price for the average working class. The organization can capitalize on the intangibles aspects of the business, customer service and appreciation, friendly attitude, and customer satisfaction. Saeed Home Improvement will deliver quality products in a timely manner with the best customer service in the industry. This is extremely important since our business brings us into direct contact with the homeowner on a daily basis. There are several opportunities to take advantage of in exceeding the homeowner’s expectation. This objective will derive from the company mission statement which clearly outlines the importance of the customer, employees, and vendors. The strategic tool of chose for collecting and reporting information to managers on four specific areas of the business is the balanced scorecard. The internal and external communication of the organization will improve with the assistance of this tool. The balance scorecard helps a business or organization to achieve long-term prosperity by...
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...April Titus Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan BUS/475 February 23, 2015 Elaine Boyle Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Many medium and most large companies and corporations incorporate the use of a balanced scorecard and a communication plan to further their business. According to Balanced Scorecard Institute (2015), “The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organizational performance against strategic goals.” It is important for companies to set goals and a way to measure each goal so that progress can be tracked in efforts to ensure the goals are being met. Not only must companies track their specific goals, but there must be a plan to communicate what is happening. According to Project Management Knowledge (2010), “The communication management plan is the written document that outlines, highlights, and details the communications needed and expectations for the entire project.” The new division of the company, XFINITY Streaming, has a scorecard and communication plan to follow to ensure its success. Financial Perspective When a company takes creates a new division there are expectations for growth...
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...Balanced Scorecard Michelle Baird BUS/475 July 15, 2013 Larry Myers Balanced Scorecard Introduction The four quadrants will be addressed in this paper for Cyber Café on the strategic objectives. This will be shown in the form of a balanced scorecard for each section, followed by and explanation on how these objectives will be met. By the end of the paper you (the reader) will have a better understanding of Cyber Café’s strategic objectives for the four quadrants of its balanced scorecard. The purpose of a balanced scorecard for Cyber Cafe is to be able to align the company’s business activities to the strategy’s and vision of the company. In this section Cyber Café will implement the use of a balanced scorecard to help understand and visualize the strategic objectives of the company. This will also help the company be able to analyze the performance of the employees and the business. The four quadrants of a balanced scorecard are: 1) Customer values 2) Financial prospective and shareholder value 3) Process of internal operations 4) Learning and growth prospective The following tables are the balanced scorecard of Cyber Café. This will show Cyber café’s various strategic objectives and tactics in different areas of the business. Financial: | Objective | Measures | Target | Initiatives | | First year | Meet budget growth targets. | Revenue growth versus budget targets. | Budget targets for growth. | Achieve financial sustainability...
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...Strategic Plan, Part III: Balanced Scorecard Gloria Scott BUS/475 October 3, 2012 Dr. Paul Sam Strategic Plan, Part III: Balanced Scorecard Introduction New York & Company the largest retailer in women’s apparel is branding their image to target consumer’s that seek quality merchandise at an affordable price. New York & Company has intense competition and will strategize to keep consumers satisfied and increase sales for stakeholders. New York & Company will use competitive strategy to please customers, use offensive and defensive moves to counter competition, respond to market conditions and strengthen their market position. . ("New York & Company", 2008). DATAMONITOR: New York & Company, Inc. (2011) Strategic Objective New York & Company will use a strategic plan that includes the balanced scorecard which is a set of measures that are directly linked to the company’s strategy: financial performance, customer knowledge, business process, learning and growth. The balance scorecard provides information to shareholders that will detail the development of the strategic goals for the company. The balance scorecard evaluates the progress and performance that will affect changes in the departments. . ("New York & Company", 2008). DATAMONITOR: New York & Company, Inc. (2011) Financial Perspective The financial objective of New York & Company is committed to cost efficiency, improving cost effectiveness and increasing revenue...
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...Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Josephine Olinger BUS/475 NOVEMBER 25, 2014 PROF SARITA WESLEY Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan This paper will outline and explain the strategic objectives for Adecco Group using the format of a balanced scorecard. The balanced scorecard is a frame work that is used to translate a strategy into operational terms, while providing measures using the following four quadrants; Financial Perspective, Customer Value Perspective, Process or Internal Operations Perspective, and finally Learning and Growth (Employee) Perspective. These objectives are based on an evaluation of a number of potential alternative processes and opportunities that are identified on Adecco’s SWOTT Analysis. Adecco’s financial objective is to achieve an increase in the staffing and placement area of their business. Adecco believes that an average growth of seven percent for the next five years will increase their market share greatly within this five year period. Adecco’s strategy will start with an aggressive plan where they will be looking to increase their market shares in the U.S and North American markets. Those great gains will offer Adecco a chance to continue to compete with its other major competitors. Adecco understands the value of those that they serve and the objectives that they look to implement in their process of growth adecco.com (2014). ...
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...Strategic Plan Part III: Balanced Scorecard Sarah Jobst BUS/475 January 3, 2014 Ben Olmos The reason an individual opens a business is to be successful and usually to make a profit. My vision and my mission for my business are to be one of the most popular eateries in the metro Atlanta area. In addition, should be a highly respected business and not just another business serving food. Getting to know the customers on a personal basis and prove friendly service that is appreciable and that leaves customer with a sense of superior service that keeps them coming back. But mostly, the café will provide great food that people will enjoy to eat and crave. The vision for the café is to see it open at multiple locations throughout the surrounding so that the entire area has access to the unique options we offer. Financial Perspective Because the initial location will be in the metro Atlanta area, it can hold a considerable market share over other restaurants in that area. After that the financial perspectives include market share, the vision influences the market share in this way and it allows for enhancement of profitability and the competitive position. More restaurants around the metro Atlanta area can have the same supply chain operations...
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...Final Strategic Plan Bus/475 Integrated Business Topic Final Strategic Plan The strategic objective of Dunkin Donuts is to constantly fuel the growth of the franchise by continually trying to engage and attract potential new customers – while keeping current customers loyal. To meet these strategic objectives, Dunking Donuts must compile date and complete a balanced scorecard. According to Pearce and Robison (2009), a balanced scorecard measures a company’s financial performance, customer knowledge, internal business processes, learning, and growth to strategize to plan to meet company goals. The date compiled will be analyzed to measure process performance, productivity improvements, operations metric, employee satisfaction, employee turnover and retention, evaluate the level of organizational capacity, discover the nature of the organizational culture, and research the technological innovation of the company. Process or Internal Operations Perspective 1. Measure of process performance. A. Measure every employees’ performance including store managers and supervisors B. Look at the least productive stores and compare them to more profitable stores. Observe what the least productive store may be doing different from the more productive store. Implement those differences and observe if they work to better the store. C. The productive stores should be analyzed to determine where deficiencies lie and fix it. D. Observe how the current process can be made better...
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...Business Model and Strategic Plan Part 1 BUS/475 Business Model and Strategic Plan Part 1 Scorecard Four Balanced Areas For Measures | Strategic Objectives | Measure | Metric | Target Year 2 | Target Year 2 | TargetYear 3 | Financial | Improve Profitability | Improve return on investments | ROIC | +2% | +3% | +4% | | Improve Revenue | Improve overall Revenue for the company | Revenue | +3% | +4% | +5% | | Increase Assets | Strengthen Financial Resources | Cash Flow | 5% | 5% | 5% | Customer | Customer oriented growth | Increase total number of customers | Market share | +3% | +5% | +7% | | Increase customer satisfaction | Customer satisfaction for goods | Customer surveys | +5% | +10% | +15% | | Increase obesity and healthy living awareness | The amount of customers signing up for monthly newsletters | Customer enrollments | +25% | +40% | +50% | Operation or Process | Improve productivity | Reduce the time to launch products | Product development cycle time | -3% | -5% | -7% | | Improve Physical Resources | Increase the efficiency of current products that product products | Product development | +3% | +4% | +5% | | Reduce Waste | Decrease the total amount of waste at the production line | Expense | -3% | -5% | -8% | Learning and Growth | Improve leadership by reducing turnover | Retain top management positions | Management turnover rate | -20% | -30% | -50% | | Implement a unique work-friendly culture for employees to continue to...
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