...Marketing Strategy – Business Plan A new strategy for Birchbox Table des matières I. Executive summary ............................................................................................................... 3 A. Company overview ............................................................................................................ 3 B. Competitors......................................................................................................................... 3 Direct competitors in France ................................................................................................ 4 Indirect competitors in France ............................................................................................. 4 II. Situation Analysis .................................................................................................................. 4 III. SWOT .................................................................................................................................. 5 IV. Marketing Goals and Objectives ..................................................................................... 6 V. Marketing Strategy ................................................................................................................ 6 A. The target ............................................................................................................................ 7 B. Positioning................................................
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...Learning from Kmart’s Mistakes: New Improvements on Mydin Hypermarket’s Business Strategies Normah Binti Omar, Zuraidah Mohd Sanusi, Norilmiah Abdul Aziz and Nor Ashikin Ismail Accounting Research Institute & Faculty of Accountancy, Universiti Teknologi MARA, Malaysia Abstract— In Malaysia, the hypermarket business is an extremely competitive venture. Beside the high amount of capital that one needs to invest in, the business also exposes new players to global and well– structured competitors such as Giant, Carrefour and Tesco, to name a few. The current paper explores and describes the experiences of one Malaysian player, the Mydin Hypermarket in its quest to champion the local consumer market. A 2003 publication of a US bestseller entitled KMart’s Ten Deadly Sins had a tremendous impact on the business strategy and future direction of the Mydin business in this country. Originally built in the 1990s to emulate the then highly successful K-Mart Superstore in the United States, the Mydin Business had to immediately change its business strategic direction. Premised on interviews, site visits, observation and document analysis, this article provides a qualitative narration and a discussion on the various counter strategies undertaken by the management of Mydin Hypermarket in order to avoid having to face the same fate as KMart Superstore. Today, the Mydin Hypermarket understands its niche. To remain relevant in this highly competitive business, Mydin Hypermarket needs to understand...
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...Marketing Strategy Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because firms that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...2.2 MARKETING STRATEGIES Marketing has assisted in building organizational profitability through defining and maintaining customer satisfaction. Its concept has aided firms to achieve success in competitive markets throughout the world. To be successful in marketing in which economic growth has leveled and there exists many competitors and new innovations a well-developed marketing strategy is required. This strategy considers an organization’s mission and vision, parameters of products and anticipated actions of competitors in the targeted markets (McGrath, 2000). Ferrell et al, 2008 postulates that one of the greatest challenges and opportunities in marketing is change and strategies which are successful today will not work tomorrow. As such Steven Stalser, 2004 suggests that a strategy is not just a singular unchanged plan but rather a continual process of assessment, re-assessment and analysis which constantly provides direction to a firm. “Strategy is the direction and scope of an organization over a long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations” (Johnson and Scholes, 2005). A marketing strategy can be defined as “A strategy that integrates an organization's marketing goals into a cohesive whole. Ideally drawn from market research, it focuses on the ideal product mix to achieve maximum profit potential. The marketing strategy is set out in a...
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...Chapter 11 Global Strategy and Organization International Business Strategy, Management & the New Realities by Cavusgil, Knight and Riesenberger International Business: Strategy, Management, and the New Realities 1 Learning Objectives 1. The role of strategy in international business 2. The integration-responsiveness framework 3. Distinct strategies emerging from the integration-responsiveness framework 4. Organizational structure 5. Alternative organizational arrangements for international operations 6. Building the global firm 7. Putting organizational change in motion International Business: Strategy, Management, and the New Realities 2 What Is Strategy? • Strategy is a plan of action that channels an organization’s resources so that it can effectively differentiate itself from competitors and accomplish unique and viable goals. • Managers develop strategies based on the organization’s strengths and weaknesses relative to the competition and assessing opportunities. • Managers decide which customers to target, what product lines to offer, and with which firms to compete. International Business: Strategy, Management, and the New Realities 3 Strategy in an International Context • Strategy in an international context is a plan for the organization to position itself vis-a-vis its competitors, and resolve how it wants to configure its value chain activities on a global scale. • Its purpose is to help managers create an international vision, allocate resources...
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...DISCUSS HOW THE BUSINESS STRATEGY AFFECTS INFORMATION SYSTEMS AND ORGANIZATIONAL DECISIONS AT ROCHE AND HOW INFORMATION SYSTEMS SUPPORT ROCHE’S BUSINESS STRATEGY? Business strategy with information systems strategy and organizational strategy can form a Triangle. This triangle is known as the information systems strategy triangle and highlights the alignment necessary between decisions of business strategy, information systems, and organizational design. This means any adjustment to one of them will affect the other two. Organizational strategy, information strategy and business strategy must complement each other and they must be designed so that they support, rather than hinder each other. In successful companies the business strategy is the most important element in the “Triangle”. But to be a real success a firm must balance these three strategies: business, organizational, and information systems (Pearlson & Saunders, 2013). Business Strategy Organizational Strategy Information Strategy The Information Systems Strategy Triangle Business strategy should drive information system decision making, and changes in business strategy should entail reassessments of information systems. Moreover changes in information systems potential should trigger reassessments of business strategy. If a decision is made to change business strategy of the “triangle”, it is necessary...
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...Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because small businesses that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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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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...Effectiveness of generic strategies The study of strategic management is quite stimulating. It gives a person insight in a lot of leadership and managerial roles. One such aspect I have come across is that of generic strategies. This has been quite stimulating to me as it relates to some questions I have had in the past. The question related to the effectiveness of applying human resources systems and strategies across many companies in various continents. After a long time of studying such a scenario, I concluded that having human resources systems that are used the world over would not be effective because of the diverse cultures that are found in the world. But in some field such as accounting there are standards that are applied world over. So what about generic strategies? Can these really be effective across industries, across continents and in varying business sizes and scope? This essay will answer these questions in a very simple way. The first thing to understand is what a generic strategy is. Generic strategy refers to the use of predetermined strategy, based on some basic principles and assumptions, that if applied would lead to business success. A generic strategy is an outline of what a firm must or can do so as to be successful, disrespectful of the industry or nature of business of that firm. The question is could all industries and firms be able to use prescriptions of a generic strategy and be successful. Examples of generic strategies include those that have...
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...Cider Making Marketing Strategy One of the most essential things that will be a factor towards the long-term sustainable success of your Cider Making business is setting out and implementing a successful Cider Making marketing strategy. Despite this, most Cider Making businesses do not have set out their Cider Making marketing strategy or, even if they do, it is not followed and implemented comprehensively. Cider Making businesses that have the vision to create a vibrant, customer-focused marketing strategy, and the resolve to implement it, will have a real opportunity to do something wonderful with their business. If you set out your Cider Making marketing strategy properly you will create the 'buzz' that will set you apart from your competitors. Having a Cider Making marketing strategy is different to having a marketing plan. A marketing strategy involves choosing a realistic, measurable and ambitious goal that you think your Cider Making business can achieve on a sustainable basis. Each marketing tactic you use should be 100% focused on reaching and surpassing that overall goal. A marketing plan includes all of the tactics and actions that are designed to achieve the overall strategic goal, and a timetable for their implementation. In other words, the plan will detail what you will do to make the strategy happen. The vast majority of businesses in all sectors market themselves the same way as their competitors, with supply-driven marketing messages based on product features...
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...CHAPTER I INTRODUCTION 1. Background of Case Study Selection Differentiated strategy is the strategy pursued by the company to produce products that are different or unique compared to competitors' products. Researchers are interested in doing research on the company because researcher wanted to learn more about controls for differentiated strategies, both theoretical and practical. Minnesota Mining & Manufacturing Corporation (3M) is one of the companies that have successfully implemented differentiated product strategy that gives priority to innovation as a competitive advantage offered. This company believes that innovation to be the cornerstone of 3M’s future success. Current management has continued to embrace and expand these policies and philosophies. That is why researchers interested in evaluating policies and 3 M that philosophy is based on the innovation in the implementation of the strategy of differentiation 2. Motivation Motivation researchers conducted a study of control for differentiated strategies in Minnesota Mining & Manufacturing Corporation (3M) because the researchers wanted to know more about the factors that influenced the design of the system and also the policies and philosophy rooted in the innovations made by 3M Corporation. By studying and examining the existing policy and philosophy that is rooted in innovation from the company, researchers can get a clearer picture of how to do a proper evaluation and what steps...
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...Environmental factors can be classified as: i) Macro environmental factors and ii) Factors, which are specific to the given business i.e., task environment. Concept of Environment The external environment provides opportunities and threats to organization whereas the internal environment holds the key to strengths and weaknesses. 1) An opportunity is a favorable situation, which enables an organization to strengthen its present position. For example, access to new markets is an opportunity arising from WTO. 2) A threat is an unfavorable situation which results in risk and damage to an organization, For example, the entry of MNCs into domestic market due to WTO, poses stiff competition to existing players 3) Strength is an inherent capacity, which can be used for developing strategic advantage. Fro example, superior R & D facilities used for developing new enzymes and molecules is a strength for companies like Ranbaxy and Biocon. 4) A weakness is an inherent constraint, which creates disadvantage for firms. For instance, supply of goods to one single buyer (government) is a risky one when there is change of government. Macro Environmental Factors Demographic Environment Demographic factors such as population growth, age composition, family size, family life cycle, income level and religion have significant implications for business. The demographic environment differs from country to country,...
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...E-business is fast becoming an important initiative for companies to consider, one that impacts every aspect of how a business is run. This report investigates the impact of e-business implementation on various aspects of the organization including; strategy, human resources, customer relationship management, the IT department, technology, the business environment, trust, service management and performance metrics. Implementing e-business applications will require process redesign, organizational restructuring and alignment, new job descriptions and reviewed and revised policies. Organizations will also have to examine tax, legal and security issues. E-business is changing all the rules and models. An organization’s ability to embrace new technology and business models is key to increasing the organization’s productivity. The Internet economy necessitates a fundamental transformation of traditional organizations. The true benefit of e-business is achieved through the digitization of the entire value chain. For a successful e-business implementation it is important that decision-makers understand the nature of these changes, their potential impact, and plan for them and manage the entire process in such a way as to ensure buy-in of all the relevant stakeholders. The decision to implement an e-business initiative should not be undertaken lightly and the benefits that can be gained from such a venture must be investigated thoroughly before deciding to go ahead. The internet has...
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...Asnoff`s Strategies for Diversification Asnoff was a mathematician with an expert insight into business management. Asnoff developed a method for measuring the profit potential of alternative product-market strategies. We called it Asnoff`s product market expansion gird. Asnoff`s product market expansion gird: Marketing planning tool which usually aids a business in determining its product and market growth. determined by focusing on whether the products are new or existing and whether the market is new or existing. Alternatives marketing strategies 1234- Existing products to existing market New products to existing market Existing products to new market New products to new market 1-Market penetration This strategy focus on selling your current product range to your existing market in order to increase your market share. In this strategy we focus on promotional activities and pricing offers to increase customers demand. Also royalty programs will help in increasing usage of our current customers to the product. Or by Driving out competitors by buying small companies or Making competition more difficult to them by pricing strategies . Example : -Airways royalty programs (Mile program) , 2-Product development Product development strategy including developing a new product , modifying the current products or brand extension. This strategy require continues R&D investments. Also the company must make market research and focus groups to know more about current customers needs...
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...Section 6 Lecture Notes for Chapter 1 325 Chapter 1 Strategy and the Quest for Competitive Advantage Chapter Summary Chapter One explores the concepts surrounding organizational strategy. It begins with an explanation of the term strategy and offers a basis for how to identify a company’s particular strategy. Next, it explores the importance of striving for competitive advantage in the marketplace and examines the role strategy plays in achieving this advantage. The chapter then explores the idea that strategy is partly proactive and partly reactive. This is followed by a close look at the relationship between a company’s strategy and its business model. The chapter proceeds forward with a look at what makes strategy a winner and then presents reasons for why crafting and executing strategy are important. The chapter concludes with thoughts on the equation: good strategy + good strategy execution = good management. Lecture Outline I. The Importance of Managing Strategically 1. Three questions must be answered by managers of all types of organizations: a. Where are we now? b. Where do we want to go? c. How are we going to get there? 2. “Where we are now?” prompts managers to evaluate industry conditions and competitive pressures, the company’s current performance and market standing, its resource strength and capabilities and its competitive weaknesses. 3. “Where do we want to go?” this lies within managements vision of the company’s future direction. It pushes...
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