Strategy Journals
QUARTER 1 This quarter was started off by assigning responsibilities to each of the team members. Here, the team discussed strengths and weaknesses of each member and what responsibilities each was most comfortable doing. The approach used when doing this was to ensure that team members were given the responsibilities that best fit member. Louis’s responsibilities included President and VP of Advertising, Josh’s responsibilities are VP of Marketing Research and Finance, Scott’s include VP of Sales Management and Finance, and Ema’s responsibilities encompassed VP of Brand Management and Advertising. Next, Team 4 had to determine how much market research to purchase. After discussion, it was concluded that it was best …show more content…
This was developed to provide potential customers with Team 4’s purpose and company direction. Next, Team 4 developed a strategic direction; here the goal was to take the industry lead and keep it. The main emphasis was placed on taking the market share in each of the markets that we targeted, by being the first to the market and focusing on the largest geographic markets.
After reviewing the market research, Team 4 aimed to target both the Workhorse and Innovator markets. The Workhorse market was categorized as the first priority because market research showed the market size was very large in many of the sales channels. Innovator was regarded as the second priority because this market also had a large market, but also had great potential for the organizations product to be highly profitable; it was also taken into consideration that when developing the innovator product, it could be used as a stepping stone for product depth extension into the Mercedes market. It was determined that these two markets had potential to be most profitable based on market size and price customers were willing to