...What is Marketing Strategy? Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives. Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps organization define vision, mission and business goals, and outlines the steps need to take to achieve these goals. Marketing strategy affects the way organization run entire business, so it should be planned and developed in consultation with team. It is a wide-reaching and comprehensive strategic planning tool that: * Describes business and its products and services * Explains the position and role of products and services in the market * Profiles customers and your competition * Identifies the marketing tactics will use * Allows building a marketing plan and measuring its effectiveness. A marketing strategy sets the overall direction and goals for organization marketing, and is therefore different from a marketing plan, which outlines the specific actions you will take...
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... Boeing operates as a global company and facing tough competition recently from Airbus, Lockheed Martin, EADS, Northrop Grumman, etc. Politics, finance, economy, and resources (to name a few) impact the global market in which Boeing operates. As a result, Boeing needs to constantly evaluate its global strategy and the tactics it uses to capture the market and maintain growth. Economic Trends Recent global events, including regional political turmoil, natural disasters, and debt crises, have affected global economic growth. While global growth is expected to recover, the risk of persistent high oil prices and debt contagion could have lasting effects on the economy (The Boeing Company, n.d.). Economic growth also could be affected by slowing trade liberalization in some regions. Reduced liberalization could prolong the recovery period, affecting the demand for air travel and new airplanes. Though recent data indicates that the global economy continues to recover, the pace of the recovery in 2011 has moderated compared to 2010. High oil prices, natural disasters (Japan earthquake) and resulting consequences in a politically unrest Middle East area pose as primary threat to a continued economy recovery. China continues to grow and outpace the world DGP growth rate compared to United States, Europe and Japan (The Boeing Company, n.d.). The liberalization of air services between countries generates significant additional opportunities for consumers, shippers, and the numerous...
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...challenge. No company is perfectly efficient; no company operates like a pit crew in a racetrack. However, nearly all companies can improve. Any company can move toward high margin products, reduce waste and decrease cycle time. As daunting as this may seem, increasing profitability in stagnant or declining market is not impossible. To do so a company needs to adopt management tactics that can effectively address such an environment. A company in a growing or robust industry can easily waste time, resources and brainpower and still perform satisfactorily. A company in a stagnant or declining industry must rely on maximum operational efficiency and high value work to be profitable. By the time a turnaround consultant is brought in, a company in a declining industry that has not addressed waste-elimination issues can be suffering from financial distress. This is where restructuring advisors and turnaround consultants can provide leadership and spearhead change. All too often, client companies are stuck in a mature market and employ management tactics that are specifically geared toward competing in a growth market. The restructuring advisor needs to steer the client’s management team toward adopting strategies that can improve profitability, independent of market or industry conditions. Among the most effective strategies for increasing...
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...Company G 1-Year Marketing Plan Student Name: Nathan Martin Student ID:000432984 Date: 3/25/2016 Student Mentor Name:Diane Frayne Table of Contents Introduction 3 Product Description and Classification 3 Product Support of Mission Statement……………………………………………………………………………………………….….3 Consumer Product Classification 3 Target Market 3 Competitive Situation Analysis 3 Analysis of Competition using Porter’s Five Forces Model 3 SWOT Analysis 4 Strengths and Core Competencies 5 Weaknesses 5 Opportunities 5 Threats 5 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies and Implementation 7 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Explanation of Strategies………………………..……………………………………………………………………………………………….7 Implementation Plan 7 Product Tactics 8 Price Tactics 8 Place Tactics 8 Promotion Tactics 8 Monitoring Procedures 8 Introduction Company G is an established electronics company with outstanding partnerships in the industry. A new blender has been developed, and this marketing plan will detail the launch of the new blender created by Company G. Product Description and Classification Product Description and Support of the Mission Company G Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronics solutions.” The new blender that Company G has designed...
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...known as emerging markets, are becoming the driver of global growth. It is expected to grow two to three times faster than developed countries like the US according to the International Monetary Fund. And because of the growth many investors are being pulled in to invest to some emerging markets. This growth is very important among investors because it simply enables them to foresee the future of their investment. (Forbes. “What Makes Emerging Markets Great Invesment?”.www.Forbes.com.) China has become a leading foreign investor among all emerging countries, According to the main stream of international business literature on the topic of multinationals from emerging countries, there are generally five motivations for multinationals to invest abroad; they seek resources, technology, markets, diversification, and strategic asset. A careful analysis of the data and the investment by Chinese multinationals indicates the similar motivations provided by China. Chinese government has, to a great extent, played a crucial role in shaping the structure of the country's outward investment; this is consistent that China's FDI has been part of the government's development scenario. Since the 1980s, the government has required the overseas subsidiaries to achieve one of the four goals--introduction of advanced technology, access to raw materials, earnings of foreign exchange, and expansion of exports. Prominent examples can be found in each of the requirements. The Chinese government has...
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...FINS Group Negotiation Strategy Report Megatronics Inc. Recommendation Megatronics Inc. the world’s leading producer of microanalyzers is looking to continue its growth utilizing foreign market entrance strategies of either a wholly-owned subsidiary or a highly advantageous licensing agreement. The markets that we will be targeting aggressively for this expansion are the emerging markets of China and Brazil. Our primary goal is to establish a wholly owned subsidiary within the Chinese market with our secondary goal being to do the same for the Brazilian market. Entering these markets in this fashion will allow us to upkeep our management preferences of maintaining full ownership control to integrate our marketing and manufacturing strategies on a global scale. Financially it should provide an approximately 11.4% return on invested capital (See Appendix 2 for NPV calculations). This will help Megatronics to increase the financial health of the business by gaining new revenues from high growth markets. These measures will proactively ward off competitors Eurodata and Tanaka who are attempting to encroach on Megatronics market share and lead to wealth creation for our firm. Support The foreign markets which have been seen as worthwhile to pursue are the Chinese and Brazilian markets. These markets are projected to have 180% growth over a six year period (See Appendix 2). This high growth rate makes these countries appealing to enter. Additionally, we are looking not only...
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...Executing IP Strategy with ICM Process Implementation By Bruce Story, Senior Advisor, ipCapital Group Introduction: Background from Dow While leading Intellectual Capital Management (ICM) in the Plastics Business at The Dow Chemical Company, I witnessed the value of having a business-aligned IP strategy, implemented early in the development of a new technology platform. The difference between leaving IP development to the ad hoc process dependent on the initiative of the inventor and using IP strategy to guide R&D and new business development can be immense. The high performance elastomers business platform developed at Dow in the last decade is worth over a billion dollars. With the increasingly global competitive environment, this never would have been sustained without the implementation of an IP strategy that took into account the business strategy, competitors’ patenting strategies, the product value chain, and providing a closecoupling of actionable IP strategy to the R&D staff. Previously, as is common in many companies, the IP strategy was basically a legal strategy for obtaining patents. Dow’s attorneys were very good at getting patents granted. However, the disclosing of inventions was left to the initiative of the inventors who were often too busy with their projects to document their inventions. The “Inventor-of-the–Year” Award went to the inventor who received the most U.S. patents in the previous year. Quantity was being rewarded rather than IP...
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...organization may be deployed as strategic system. Competitive Strategies Michael Porter formulated the Four Generic Business Strategies to gain competitive advantage. * Differentiation * Selects one or more criteria used by buyers in a market and then places the business uniquely to meet those criteria * Cost Leadership * Focuses on becoming the lowest cost producer in the industry * Differentiation Focus * Allows the business to aim differentiation within a small number of target market segments * Cost focus * Allows the business to seek a lower-cost advantage within a small number of market segments Competitive Forces Competitive strategies have been formulated because of the competitive forces in an industry. Industry is a group of firms that market products which are closely substitutes for each other like the car industry. Switching costs * These are the costs of switching to your competitor for product or service you provide Competitive Tactics * Internal growth – this tactic makes it possible to realize economic of scale. * Innovation – this tactic makes internal innovation possible by generating new knowledge * Merger or Acquisition – this includes outward-directed tactics involving mergers or acquisitions of other companies to compete more keenly in the emerging environment * Strategic Alliances With Other Companies – long term partnership with another company which is vital to competing in the global market. Strategic Cube...
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...Business plan for {Enter your business name here} Date: 21 February 2013 {Guidance for completing your business plan can be found at the end of this document} Business profile |Structure |Sole Trader Partnership Company | |established |{Enter date} | |Date registered |{Enter date registered at Companies Office – if applicable} | |Registration # |{Enter the company number} | Contact details |Contact name |{Enter your name} | |DD |{Enter your main phone number} | |Mobile |{Enter your mobile phone number} | |Email |{Enter your email address} | |Postal address |{Enter your postal address} | |Physical address...
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...global context Business-government relations * Government cooperates with businesses for mutually beneficial goals. * -Influenced by a nation’s values and customs differs in countries. * Their goals can range from one of cooperation to one of conflict, with various stages in between. It is constantly changing. * Companies operating globally may find governments whose legitimacy or right to be in power is questioned. * The ability of a government leader or a group of leaders to maintain political power can be influenced by businesses’ actions. (i.e boycotting economic relations with a country, or decide to withdraw operations from a country) Government’s public policy (PP) role * A plan of action undertaken by government officials to achieve some broad purpose affecting a substantial segment of a nation’s citizens. * PP inputs: External pressures that shapes a government’s policy decisions and strategies to address problems. * PP tools involve a combination of incentives and penalties to result in behavior that will achieve PP goals. Types of PP * Economic and social A) ECONOMIC * Fiscal policy * Patterns of government taxing and spending that are intended to stimulate or support the economy...
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...Strategy Formulation Rex C. Mitchell, Ph.D. INTRODUCTION It is useful to consider strategy formulation as part of a strategic management process that comprises three phases: diagnosis, formulation, and implementation. Strategic management is an ongoing process to develop and revise future-oriented strategies that allow an organization to achieve its objectives, considering its capabilities, constraints, and the environment in which it operates. Diagnosis includes: (a) performing a situation analysis (analysis of the internal environment of the organization), including identification and evaluation of current mission, strategic objectives, strategies, and results, plus major strengths and weaknesses; (b) analyzing the organization's external environment, including major opportunities and threats; and (c) identifying the major critical issues, which are a small set, typically two to five, of major problems, threats, weaknesses, and/or opportunities that require particularly high priority attention by management. Formulation, the second phase in the strategic management process, produces a clear set of recommendations, with supporting justification, that revise as necessary the mission and objectives of the organization, and supply the strategies for accomplishing them. In formulation, we are trying to modify the current objectives and strategies in ways to make the organization more successful. This includes trying to create "sustainable" competitive advantages...
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...ISDS 2001 – STUDY GUIDE for Final Exam – Chapters 3 and 6 Objectives: After completing Chapter 3, you should know: 1. that BPM encompasses a core set of processes, including financial and operational planning, consolidation and reporting, modeling, analysis, and monitoring of KPIs, linked to organizational strategy 2. that BPM helps organizations translate a unified set of objectives into plans, monitor execution, and deliver critical insight to improve financial and operational performance 3. that BPM refers to the business processes, methodologies, metrics, and technologies used by enterprises to measure, monitor, and manage business performance 4. that BPM is an enterprise wide strategy that seeks to prevent organizations from optimizing local business at the expense of overall corporate performance; concentrates on enterprise-wide view. 5. that BPM = BI (monitor and analyze) + Planning (a unified solution) 6. understand that the closed-loop process (the BPM cycle) links strategy to execution in order to optimize business performance Using a closed-loop process to optimize business performance implies that four process steps are implemented: * Strategize - setting goals and objectives. Where do we want to go? * Plan - establishing initiatives and plans to achieve those goals. How do we get there? * Monitor – overseeing actual performance and comparing that to the goals and objectives. How are we doing? * Act and Adjust – taking corrective...
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...Balanced scorecard is an analysis technique designed to translate an organization's mission statement and overall business strategy. An organization can use the balance scorecard analysis to track progress and manage the implementation of their strategies. The scorecard measures an organization’s performance from four perspectives: (1) financial, the profits and value created for shareholders; (2) customer, the success of the company in its target market; (3) internal business processes, the internal operations that create value for customers; (4) learning and growth, the people and system capabilities that support operations. A company’s strategy influences the measures it uses to track performance in each of these perspectives (Horngren, Datar, & Rajan, 2012, p. 470). UNUM’s success with its balanced scorecard has been the result of getting a number of fundamental things right (Building and Implementing a Balanced Scorecard, Case Study: UNUM Corporation, 1999, p. 13). Vision and Strategy, the vision is the future and the gap between now and the future leads to a plan of action to achieve the vision. How we get to the future involves strategies. UNUM’s strategic goals and measures are to support a clearly defined and meaningful corporate vision (Building and Implementing a Balanced Scorecard, Case Study: UNUM Corporation, 1999, p. 2). Each perspective in UNUM has a vision, quantitative measure and goal. What makes the UNUM scorecard particularly powerful is the strategic implementation...
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...Strategy Formulation Rex C. Mitchell, Ph.D. INTRODUCTION It is useful to consider strategy formulation as part of a strategic management process that comprises three phases: diagnosis, formulation, and implementation. Strategic management is an ongoing process to develop and revise future-oriented strategies that allow an organization to achieve its objectives, considering its capabilities, constraints, and the environment in which it operates. Diagnosis includes: (a) performing a situation analysis (analysis of the internal environment of the organization), including identification and evaluation of current mission, strategic objectives, strategies, and results, plus major strengths and weaknesses; (b) analyzing the organization's external environment, including major opportunities and threats; and (c) identifying the major critical issues, which are a small set, typically two to five, of major problems, threats, weaknesses, and/or opportunities that require particularly high priority attention by management. Formulation, the second phase in the strategic management process, produces a clear set of recommendations, with supporting justification, that revise as necessary the mission and objectives of the organization, and supply the strategies for accomplishing them. In formulation, we are trying to modify the current objectives and strategies in ways to make the organization more successful. This includes trying to create "sustainable" competitive advantages...
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...Running head: STRATEGY PLAN Walgreen Pharmacy Brigida L. Diaz Jones International University Prof: Dr. Sue Raftery Table of Contents Executive Summary…………………………………………………………………………........3 Walgreens Introduction...…………………………….……………………...............…………..4 Mission Statement…………………………….....………………………..………………………6 Walgreens Corporate Culture……………………………………………….………...…….…..7 Walgreens Stakeholders……………………………………………………………………….…8 Executive officer of Walgreens……………………………………….………………………….8 Walgreens Development Process………………………………………………………………...9 SWOT Analysis……………………………………….………………………………………….10 Goals ……………………………………………………………………………………………...15 Walgreens’s Implementation plan ………………………………………………………..........19 Walgreens’s Approval Strategies Plan:……………..………………………………….............20 References…………………………………………………………….…………………………..21 Appendices:……………………………………………………….…….….……………….…….23 An Executive Summary: With a variety of 70,000 health care service providers, Walgreen offers consumers and patients the support that reliefs them live a “well” life. Walgreen has more of 26,000 pharmacists at more than 7,500 stores across the country (Walgreen, 2011). The patients trust in Walgreen’s pharmacist in the moment, to take decisions. They provide information about health and wellness needs, and ensure they get their medication and immunizations in a timely and caring environment. At the same time, Walgreen is transforming and enhancing the role...
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