Marketing Strategies Questions

by **Joselito** » Fri Jun 20, 2014 7:26 pm

s Advertisement Expert: Leo Lingham - 10/2/2012 Dear Leo,

I have to answer the following consider using an analysis and critique approach and would highly appreciate your guidance:

1.) Do you think that all companies need to practice the marketing concept? Are there any types of companies that do not need this orientation? Which companies need it most and why?

2.) Critically examine the role and purpose of a strategic marketing plan. What problems can arise from a lack of marketing planning? Discuss with illustrative examples.

3.) Imagine that you are a newly appointed marketing strategist in your company and you have been asked to report the findings to your manager of an internal and external audit you have undertaken to analyze the organization’s internal and external environment. Select a(real or hypothetical) company or organization and explain how you would go about your analysis and discuss the implications for the company’s key competitive advantages and core competencies.

4.) Evaluate the types of advantages and difficulties that a manufacturing firm may face in developing successful new products to achieve competitive advantage.

5.) Outline the key differences between the marketing of services and the marketing of physical goods. Explain why you agree or disagree with the argument that all marketing fundamentally provides service and services.

6.) Explain the reasons why and the ways in which the marketing mix has extended beyond the „4Ps? of product, price, promotion and place.

7.) How might the decision-making process of an individual buying their favorite brand of tea differ from that of another consumer buying a washing machine? What marketing advice would you give to the sales staff for washing machines based on your understanding of the consumer buying process?

8.) Select a market of your choice and explain how you would select an appropriate set of segmentation criteria. Outline the possible market segments and customer profiles which these criteria might produce.

Your positive feedack would be highly appreciated.

Best regards,

Majdi

by **Wyn** » Mon Jun 23, 2014 8:58 pm

HERE IS SOME SOME USEFUL MATERIAL.

SOME ANSWERS HELD BACK DUE TO SPACE CONSTRAINT.

PLEASE FORWARD THESE BALANCE QUESTIONS TO MY EMAIL ID

[email protected]

I will send the balance asap.

Regards

LEO LINGHAM

==========================================

1.) Do you think that all companies need to practice the marketing concept? Are there any types of companies that do not need this orientation? Which companies need it most and why?

WHAT   is marketing concept It is a fundamental idea of marketing that organisations survive and prosper through meeting the needs and wants of customers. This important perspective is commonly known as the marketing concept. The marketing concept is about matching a company's capabilities with customer wants. This matching process takes place in what is called the marketing environment. Businesses do not undertake marketing activities alone. They face threats from competitors, and changes in the political, economic, social and technological environment. All these factors have to be taken into account as a business tries to match its capabilities with the needs and wants of its target customers.

An organisation that adopts the marketing concept accepts the needs of potential customers as the basis for its operations. Success is dependent on satisfying customer needs.

------------------------------------------------------------------------------

SECOND QUESTION,

What are customer needs and wants?

A need is a basic requirement that an individual wishes to satisfy. People have basic needs for food, shelter, affection, esteem and self-development. Many of these needs are created from human biology and the nature of social relationships. Customer needs are, therefore, very broad.

Whilst customer needs are broad, customer wants are usually quite narrow. A want is a desire for a specific product or service to satisfy the underlying need. Consider this example:

Consumers need to eat when they are hungry.

What they want to eat and in what kind of environment will vary enormously. For some, eating at McDonalds satisfies the need to meet hunger. For others a microwaved ready-meal meets the need. Some consumers are never satisfied unless their food comes served with a bottle of fine Chardonnay.

Consumer wants are shaped by social and cultural forces, the media and marketing activities of businesses.

This leads onto another important concept - that of customer demand:

Consumer demand is a want for a specific product supported by an ability and willingness to pay for it. For example, many consumers around the globe want a Mercedes. But relatively few are able and willing to buy one.

Businesses therefore have not only to make products that consumers want, but they also have to make them affordable to a sufficient number to create profitable demand.

Businesses do not create customer needs or the social status in which customer needs are influenced. It is not McDonalds that makes people hungry. However, businesses do try to influence demand by designing products and services that are

• Attractive

• Work well

• Are affordable

• Are available

Businesses also try to communicate the relevant features of their products through advertising and other marketing promotion.

Which leads us finally to an important summary point.

A marketing orientated business is one that which has adopted the marketing concept

SO THE   MARKETING CONCEPT

The marketing concept is the philosophy that the firm should analyze

the needs of their customers[ current /potential ]   and then make the decisions to satisfy those needs , better than the competition.

----------------------------------------------------------------------------------------------------- What is Marketing ?

It is a process by which

-one identifies the needs and wants of the people.

-one determines and creates a product/service to meet the needs and wants. [PRODUCT]

-one determines a way of taking the product/service to the market place. [PLACE]

-one determines the way of communicating the product to the market place. [PROMOTIONS]

-one determines the value for the product.[PRICE].

-one determines the people, who have needs/ wants. [PEOPLE]

and then creating a transaction for exchanging the product for

a value.

and thus creating a satisfaction to the buyer's needs/wants.

TERMS to understand.

1.Product/Service means a product or service or idea to satisfy   the people's needs / wants.

2.Needs mean when a person feels deprived of something.

3.Wants mean when a person's need is formed / shaped   by personality, culture, and knowledge.

4.Value means the benefits that the customer gains from    owning and using the product and the cost of the product.

5.Satisfaction means the extent to which a product's   perceived performance matches a buyer's expectation.

6.Exchange means the act of obtaining a needed/ wanted   object by offering something in return.

7.Transactions mean a trade off between a buyer / a seller   that involves an exchange at agreed conditions.

Marketing is based on identifying, anticipating and satisfying customer needs effectively and profitably. It encompasses market research, pricing, promotion, distribution, customer care, your brand image and much more. ========================================================= Marketing is based on identifying, anticipating and satisfying customer needs effectively and profitably. It encompasses the following elements and the most popular company

which uses   all these is COCA COLA CORPORATION

and they do it very well.

- market research, [conducts marketing research continuosly--pre-product/during product launch/

during the maturity/ consumer research/retail research/test marketing etc etc

==================================================

-product planning / development ,

[they plan/ develop products in a scientific manner, tailoring

it to the exact taste of the consumers]

=====================================

-product pricing, [conduct price research and position the price point

where the consumer can afford / the company makes good profit.]

==========================================

-product marketing

[the company conducts one of the most effective product marketing

programs in the world.]

==============================================

-SALES [the company has   a wide network of   sales representatives

in almost over   180 countries]

======================================

-promotion, [the company applies varieties of promotions including

sales promotion/trade promotion/consumer promotion/ advertiisng/ public relations ]

=============================================

-distribution, [when it comes to distribution, they have an unmatched distribution network.

they go for extensive and intensive coverage of the market---that covers

supermarkets/corner stores/gas stations/ schools/colleges/convenience stores/sports complex etc

================================================

-customer care, [the company has   a well crafted customer care program for

the consumers.]

============================================

-BRANDING [when it comes to branding, they are second to none in the world

''COKE'' say no more]

=====================================

-merchandising

[the company has an extensive program on merchandising like

external displays / internal displays ]

==========================================

-retailing

[ the company has a   strong presence in the retail field

supported by active merchandisers]

==================================== -strategic marketing management

[the company has a strong team to manage the strategic   aspects of market--it is highly research based]

============================================== -market forecast.

[the company uses the finest software to develop

the demand planning and market forecast and sales forecast]

============================================== -consumer behavior

[the company continuously monitors the consumer behavior

with respect their products]

===================================== -organizational buyer behavior.

[the company continuously monitors the organization buying   behavior

with respect their products ---like schools/ colleges/ business houses]

==========================================

-Strategic market Planning [the company has a strong team to manage the strategic   aspects of market--it is highly research based]

=============================================

-Market Development.

[ the company develops   the market   through

*geographical coverage increase.

*current customers usage increase

*new customers increase

etc

============================================ -marketing environments

[the company is sensitive to the environment

and has   a number of societal marketing programs.

================================================ -market segmentation/ targeting [THE company uses the segmentation   techniques

heavily targeting   the ''15 --45''   age group]

==================================== -field sales planning / development

[the company   carries out regular field sales

planning and development program to sharpen/ tune

the field sales team.

===================================

ADDITIONAL RESOURCES

THE COMPANY TAILOR ITS MARKETING PRACTICES

Successful businesses focus on getting the basics of marketing right.

Marketing is based on identifying, anticipating and satisfying customer needs effectively and profitably. It encompasses market research, pricing, promotion, distribution, customer care, your brand image and much more. Some of the things that the company does in   marketing practices is to: *Have a marketing team or individuals who have qualifications in marketing *Review brand, its image and what it stands for *Consider the consistent use of a strap line in the advertisements *Launch a website and think about e-marketing and interactive website pages to add value *Adopt the correct pricing strategy for the market sector, competitors, customers & profit *Create a database of all the retailers so that you can market to them again *Know your consumers - find out where they are spending their time and money *Employ specialists for website creation or use external experts in the field *Use external professionals for press releases *Support anyone wanting to train in marketing *Have a consistent brand message on all literature, websites, business cards & letter heads *Create a mission statement *Always plan properly, there are packages such as Microsoft Project which can help *Use market research to understand competitors, spot opportunities and lessen risks *Use the database to market either by postal campaigns, e-mail or even mobile marketing

*Advertise in the correct places, and analyse and learn from each campaign *Enlist professional designers for literature, business cards and logos *Stick to what you do best and let the experts help with their specialist knowledge.

==========================================================@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@

ALL BUSINESSES NEED MARKETING TO GENERATE CONSUMER SATISFACTION AND HENCE   REVENUE.

NO BUSINESS CAN AFFORD TO GROW WITHOUT MARKETING.

BUT THE MARKETING PRACTICES VARIES IN ELEMENTS/ EMPHASIS.

1.LOCAL   GROCERY   SHOPS RUN BY PAPA/MAMA

-use personal relation [ marketing tool]

As a weapon to improve sales.

2.COCA COLA

-uses the full stretch of marketing to stay/grow in the business.

=====================

THE COMPANIES   THAT MOST NEED MARKETING   ARE THE CONSUMER PRODUCTS MANUFACTURERS.

############################

2.) Critically examine the role and purpose of a strategic marketing plan. What problems can arise from a lack of marketing planning? Discuss with illustrative examples.

Strategic marketing

STRATEGIC    MARKETING CONCEPT    IS    A   PHILOSOPHY, FOCUS, ORIENTATION

WHICH EMPHAISES   THE PROPER IDNETIFICATION OF MARKETING OPPORTUNITIES

AS THE BASIS FOR   MARKETING PLANNING AND CORPORATE GROWTH. Scope of strategic marketing

Marketing is a philosophy that leads to the process by which organizations,

groups and individuals obtain what they need and want by identifying value,

providing it, communicating it and delivering it to others. The core concepts

of marketing are customers’ needs, wants and values; products, exchange,

communications and relationships. Marketing is strategically concerned with

the direction and scope of the long-term activities performed by the organization

to obtain a competitive advantage. The organization applies its resources

within a changing environment to satisfy customer needs while meeting

stakeholder expectations.

Implied in this view of strategic marketing is the requirement to develop

a strategy to cope with competitors, identify market opportunities, develop

and commercialize new products and services, allocate resources among

marketing activities and design an appropriate organizational structure to

ensure the performance desired is achieved.

There is no unique strategy that succeeds for all organizations in all

situations. In thinking strategically about marketing many factors must be

considered: -the extent of product diversity and geographic coverage in the

organization; -the number of market segments served, -marketing channelsused, -the role of branding, -the level of marketing effort, -and the role of quality. It is also necessary to consider the organization’s approach to new

product development, in particular, its position as a technology leader or

follower, the extent of innovation, the organization’s cost position and

pricing policy, and its relationship to customers, competitors, suppliers

and partners.

The challenge of strategic marketing is, therefore, to manage marketing

complexity, customer and stakeholder expectations and to reconcile the

influences of a changing environment in the context of a set of resource capabilities.

It is also necessary to create strategic opportunities and to manage

the concomitant changes required within the organization. In this world of

marketing, organizations seek to maximize returns to shareholders by creating

a competitive advantage in identifying, providing, communicating and

delivering value to customers, broadly defined, and in the process developing

long-term mutually satisfying relationships with those customers.

A strategic marketing approach attempts to determine ways of offering superior

value to the more profitable segments without damaging individual customer

relationships. A strategic marketing approach reflects an integrated approach based on

research and feedback. Customer needs are first evaluated through market

research, an integrated marketing effort is developed to satisfy customers so

that the organization achieves its goals, especially those affecting shareholders.

This is a customer orientation and contrasts very bluntly with a narrow

competitor orientation based on sales in which the organization by capitalizing

on the weaknesses of vulnerable competitors or by removing its own

competitive weaknesses attempts to obtain high sales and long-run profits

Strategic marketing concept

Strategic Marketing has been defined as the management function responsible for

identifying, anticipating and satisfying customer requirements profitably.

Strategic Marketing is, therefore, both a philosophy and a set of techniques which

address such matters as research, product design and development, pricing,

packaging, sales and sales promotion, advertising, public relations, distribution

and after-sales service. These activities define the broad scope of

marketing and their balanced integration within a marketing plan is known

as the marketing mix. A modification of a definition of strategic marketing suggests that marketing is the management process that seeks to

maximize returns to shareholders by creating a competitive advantage in

providing, communicating and delivering value to customers thereby developing

a long-term relationship with them. This definition clearly defines the

objectives of marketing and how its performance should be evaluated. The

specific contribution of marketing in the organization lies in the formulation

of strategies to choose the right customer, build relationships of trust with

them and create a competitive advantage .

A marketing strategy consists of an internally integrated but externally focused set of

choices about how the organization addresses its customers in the context of

a competitive environment. A strategy has five elements: it deals with where

the organization plans to be active; how it will get there; how it will succeed

in the marketplace; what the speed and sequence of moves will be; and how

the organization will obtain profits .

Strategic marketing planning is   a process which outlines marketing opportunities

matched to the resources and abilities of the company. The process involves the following STUDY OF   Current Situation - MACROENVIRONMENT •   economy •   legal •   government •   technology •   ecological •   sociocultural •   supply chain STUDY OF Current Situation - MARKET ANALYSIS •   market definition •   market size •   market segmentation

•   industry structure and strategic groupings •   Porter 5 forces analysis •   competition and market share •   competitors'strengths/ weaknesses •   market trends Current Situation - Consumer Analysis •   nature of the buying decision •   participants •   demographics •   psychographics •   buyer motivation and expectations •   loyalty segments Current Situation - Internal •   company resources •   financial •   people •   time •   skills •   objectives •   mission statement and vision statement •   corporate objectives •   financial objective •   marketing objectives •   long term objectives •   corporate culture   Summary of Situation Analysis •   external threats •   external opportunities •   internal strengths •   internal weaknesses •   key success factors in the industry •   our sustainable competitive advantage MARKETING RESEARCH •   information requirements •   research methodology •   research results Marketing Strategy - tPRODUCT •   PRODUCT MIX

•   product strengths and weaknesses •   PERCEPTUAL MAPPING •   PRODUCT LIFE CYCLE MANAGEMENT/ NEW PRODUCT DEVELOPMENT •   BRAND, brand image, and BRAND-EQUITY •   the AUGMENTED PRODUCT

•   product PORTFOLIO analysis •    B C G ANALYSIS

•   CONTRIBUTION MARGIN ANALYSIS •     GE MULTI FACTORAL ANALYSIS •    QUALITY FUNCTION DEPLOYMENT Marketing Strategy - MARKET SHAREobjectives •   by products, •   by customer segments, •   by geographical markets Marketing Strategy - PRICE

•   PRICING OBJECTIVES •   pricing method(eg.: cost plus, demand based, or competitor indexing) •   pricing strategy(eg.: skimming, or penetration) •    DISCOUNTS   AND ALLOWANCES

•   PRICE ELASCITY and customer sensitivity •   PRICE ZONING •   BREAK EVEN ANALYSIS at various prices Marketing Strategy - PROMOTIONS •   promotional goals •   promotional mix •   ADVERTISING   reach, frequency, flights, theme, and media •   SALES FORCE requirements, techniques, and management •   SALES PROMOTIONS

•   PUBLICITY and PUBLIC RELATIONS •   electronic promotion(eg.:WEBSITE or TELEPHONE) Marketing Strategy - DISTRIBUTION

•   geographical coverage •   distribution channels •   physical distribution and logistics •   electronic distribution Implementation •   personnel requirements •   assign responsibilities •   give INCENTIVES •   training on selling methods •   financial requirements •   MANAGEMENT INFORMATION SYSTEMS requirements •   month-by-month agenda •   PERT   or CRITICAL analysis •   monitoring results and benchmarks •   adjustment mechanism •   contingencies(What if's) Financial Summary •   assumptions •   pro-forma monthly income statement •   CONTRIBUTION ANALYSIS

•   breakeven analysis •   MONTE CARLO METHOD

Scenarios •   Prediction of Future Scenarios •   Plan of Action for each Scenario ===================================================== ADVANTAGES OF The core concepts of STRATEGIC marketing may be decomposed into a number of basic components:

**Identify and select the customer value

-Needs, Wants, Demands

**Provide, communicate and deliver customer value

- Products, services and ideas

**Exchange of values and relationship building

**Identify and select the customer value

**Customers

_ Provide the value

– product planning

– packaging

– branding

– pricing

_ Communicate the value

– advertising

– personal selling

– directmarketing

– sales promotion

_ Deliver the value

– channels of distribution

– logistics

– servicing

Successful organizations recognize value positions and ensure that learning

occurs throughout the organization as a result of discovering the value

position. Choosing the value position is one of the most important strategic

decisions facing the organization. Once chosen, it the task of management

to ensure that everyone in the organization directly contributes to delivering

the chosen value. @@@@@@@@@@@@@@@@@@@

The following are seven reasons you should have a marketing plan.

1. A plan keeps your marketing efforts aligned with corporate goals and objectives

It’s easy to be busy. Companies have fewer people doing more work and the digital world has made it so that there’s no shortage of things to do. With so many activities your organization can engage in the trick is to know which ones make sense. A sound marketing plan will help you determine what should be done and what should be ignored. This will keep your team focused on work that matters—work that accomplishes your company’s goals and objectives.

2. A plan keeps your marketing efforts proactive

These days change is the only constant. With change comes the temptation to react every time there’s a new technology, new marketing platform or a new opportunity. When you’re constantly reacting to outside forces you’re not in control, but rather being pushed and pulled in a multitude of directions. A plan will protect your organization against that trap. A plan will define your strategies, it will create the path to executing those strategies and will define the things you need to do to win. This keeps you on the offensive and protects you from becoming reactive.

3. A sound plan makes it easy to evaluate new opportunities

Since we know the world around us is always changing(see #2) we can assume that new opportunities will present themselves from time to time. It might be as simple as a new advertising vehicle or as big as a new market sector that’s opening. How do you know if these opportunities are good for you? A plan will prove priceless in these circumstances as it will give you the criteria to evaluate them and determine if they make sense for your company.

4. A plan gets your whole organization on the same page

Many organizations suffer from a lack of unity. Everyone has different goals and objectives and everyone has an opinion on what the company should do and how it should do it. A sound plan will help get your people in agreement on your problems, challenges, goals, objectives, strategies and tactics, ultimately getting everyone aligned and contributing.

5. A plan helps you to keep sight of the big picture

A lot of the tactics we engage in these days tend to be very specialized and focus on the small picture. Twitter, for example, is a micro-exchange between you and your audience, 140 characters at a time. It’s a powerful tool, but one that’s very much about the moment. A good plan will help you and your company keep sight of the big picture so you don’t get lost in the weeds and you don’t miss out on opportunities.

6. A plan gives you confidence

Every company goes through cycles and that includes descending into the trough of despair. When you’re doing all you can and it seems like nothing is working, a good plan will guide you through. It will confirm your direction, provide insight into your situation and remind you of where you’re heading. Tactical things like social media alone can’t do that for you because they are granular and in the moment. Only a sound plan can give you confidence to stay the course when times get tough.

7. A marketing plan facilitates measurement

A plan gives you a framework to measure your efforts. One of the great things about all the newer tactics we have at our disposal is they are easily measurable. We can see web site traffic, banner ad clicks, number of followers and email click-throughs. But, all that data on its own does not mean a whole lot. A plan gives you the ability to evaluate all the data and determine if your efforts are moving you towards your corporate goals.

There are many more reasons to develop a marketing plan in addition to the ones I’ve listed here. The value of a sound plan far outweighs any investment you make to create one and the benefits will last for years ##########################

3.) Imagine that you are a newly appointed marketing strategist in your company and you have been asked to report the findings to your manager of an internal and external audit you have undertaken to analyze the organization’s internal and external environment. Select a(real or hypothetical) company or organization and explain how you would go about your analysis and discuss the implications for the company’s key competitive advantages and core competencies.

THE marketing strategist   USES   THE RATIONAL APPROACH.

in   Decision Making

1. Define the problem

This is often where people struggle. They react to what they think the problem is. Instead, seek to understand more about why you think there's a problem. Defining the problem:(with input from yourself and others)

Ask yourself and others, the following questions: a. What can you see that causes you to think there's a problem? b. Where is it happening?

c. How is it happening?

d. When is it happening?

e. With whom is it happening?(HINT: Don't jump to "Who is causing the problem?" When we're stressed, blaming is often one of our first reactions. To be an effective manager, you need to address issues more than people.)

f. Why is it happening?

g. Write down a five-sentence description of the problem in terms of "The following should be happening, but isn't ..." or "The following is happening and should be: ..." As much as possible, be specific in your description, including what is happening, where, how, with whom and why.(It may be helpful at this point to use a variety of research methods.

---------------------------------------------------

Defining complex problems:

a. If the problem still seems overwhelming, break it down by repeating steps a-f until you have descriptions of several related problems.

Verifying your understanding of the problems:

a. It helps a great deal to verify your problem analysis for conferring with a peer or someone else.

Prioritize the problems:

a. If you discover that you are looking at several related problems, then prioritize which ones you should address first. b. Note the difference between "important" and "urgent" problems. Often, what we consider to be important problems to consider are really just urgent problems. Important problems deserve more attention. For example, if you're continually answering "urgent" phone calls, then you've probably got a more "important" problem and that's to design a system that screens and prioritizes your phone calls.

Understand your role in the problem:

a. Your role in the problem can greatly influence how you perceive the role of others. For example, if you're very stressed out, it'll probably look like others are, too, or, you may resort too quickly to blaming and reprimanding others. Or, you are feel very guilty about your role in the problem, you may ignore the accountabilities of others.

----------------------------------------------

2. Look at potential causes for the problem

a. It's amazing how much you don't know about what you don't know. Therefore, in this phase, it's critical to get input from other people who notice the problem and who are effected by it. b. It's often useful to collect input from other individuals one at a time(at least at first). Otherwise, people tend to be inhibited about offering their impressions of the real causes of problems.

c. Write down what your opinions and what you've heard from others.

d. Regarding what you think might be performance problems associated with an employee, it's often useful to seek advice from a peer or your supervisor in order to verify your impression of the problem.

e.Write down a description of the cause of the problem and in terms of what is happening, where, when, how, with whom and why.

---------------------------------------------------- 3.Define the Goal or Objective

In a sense, every problem is a situation that prevents us from achieving previously determined goals. If a personal goal is to lead a pleasant and meaningful life, then any situation that would prevent it is viewed as a problem. Similarly, in a business situation, if a company objective is to operate profitably, then problems are those occurrences which prevent the company from achieving its previously defined profit objective. But an objective need not be a grand, overall goal of a business or an individual. It may be quite narrow and specific. "I want to pay off the loan on my car by May," or "The plant must produce 300 golf carts in the next two weeks," are more limited objectives. Thus, defining the objective is the act of exactly describing the task or goal. -------------------------------------------------------------------------------------

4. Identify alternatives for approaches to resolve the problem

a. At this point, it's useful to keep others involved(unless you're facing a personal and/or employee performance problem). Brainstorm for solutions to the problem. Very simply put, brainstorming is collecting as many ideas as possible, then screening them to find the best idea. It's critical when collecting the ideas to not pass any judgment on the ideas -- just write them down as you hear them. -------------------------------------------------------------

5. Select an approach to resolve the problem When selecting the best approach, consider:

a. Which approach is the most likely to solve the problem for the long term?

b. Which approach is the most realistic to accomplish for now? Do you have the resources? Are they affordable? Do you have enough time to implement the approach?

c. What is the extent of risk associated with each alternative? -----------------------------------------------------------------------------------------------

6. Plan the implementation of the best alternative(this is your action plan)

a. Carefully consider "What will the situation look like when the problem is solved?"

b. What steps should be taken to implement the best alternative to solving the problem? What systems or processes should be changed in your organization, for example, a new policy or procedure? Don't resort to solutions where someone is "just going to try harder". c. How will you know if the steps are being followed or not?(these are your indicators of the success of your plan)

d. What resources will you need in terms of people, money and facilities? e. How much time will you need to implement the solution? Write a schedule that includes the start and stop times, and when you expect to see certain indicators of success. f. Who will primarily be responsible for ensuring implementation of the plan?

g. Write down the answers to the above questions and consider this as your action plan.

h. Communicate the plan to those who will involved in implementing it and, at least, to your immediate supervisor.

(An important aspect of this step in the problem-solving process is continually observation and feedback.) --------------------------------------------------------------------------------------------

7. Monitor implementation of the plan

Monitor the indicators of success: a. Are you seeing what you would expect from the indicators?

b. Will the plan be done according to schedule? c. If the plan is not being followed as expected, then consider: Was the plan realistic? Are there sufficient resources to accomplish the plan on schedule? Should more priority be placed on various aspects of the plan? Should the plan be changed? -------------------------------------------------------------------------------------

8. Verify if the problem has been resolved or not

One of the best ways to verify if a problem has been solved or not is to resume normal operations in the organization. Still, you should consider:

a. What changes should be made to avoid this type of problem in the future? Consider changes to policies and procedures, training, etc. b. Lastly, consider "What did you learn from this problem solving?" Consider new knowledge, understanding and/or skills. c. Consider writing a brief memo that highlights the success of the problem solving effort, and what you learned as a result. Share it with your supervisor, peers and subordinates

=======================================================

FOR STRATEGIC DECISIONS, THE APPROACH IS AS FOLLOWS:

THE marketing strategist   ANALYSES THE FOLLOWING   DATABASE

AND APPLYS   THE PROBELM SOLVING/ DECISION MAKING   APPROACH   /   FINALIZES   THE PLAN.

-apply the pestel analysis with respect TO ITS BUSINESS

1.Political(incl. Legal)

-Environmental regulations and protection [what are the government regualtions/ protection laws that must be observed ]

-Tax policies

what tax hinder the business and what taxes incentives are available]

-International trade regulations and restrictions

[ does the government    encourage exports / with high tariffs on imports]

-Contract enforcement law/Consumer protection

[does the government enforce on consumer protection ]

-Employment laws]

[ is the government    encouraging skilled immigrants with temp. permits]

-Government organization / attitude

[ does the government have a   very positive attitude towards this   industry]

-Competition regulation

[ are there   regulation for limiting competition]

-Political Stability

[ politically , does the   government    have   a very   stable government ]

-Safety regulations

[ has the government      adopted some of the modern safety regulations]

================================================================= 2.Economic

-Economic growth

[ what is the economic growth rate / what are the reasons ]

-Interest rates & monetary policies

[ are the interest rates    under control / is there   a sound monetary policies]

-Government spending

[is government spending is significant   and is it   under control ]

-Unemployment policy

[what is the employment / unemployment policies of the government ]

-Taxation

[ has the taxation    encouraged the industry ]

-Exchange rates

[ is   there well managed   exchange controls and is it helping the industry]

-Inflation rates

[ is the inflation well   under control ]

-Stage of the business cycle

[ is your    industry is on the   growth pattern]

-Consumer confidence

[ is the consumer confidence   is   high/ strong and if not, why ]

================================================== 3.Social

-Income distribution

[is there   balanced   income distribution   policy ]

-Demographics, Population growth rates, Age distribution

[ what is   population   growth and why ]

-Labor / social mobility

[ what   are the labor policies and is there labor mobility]

-Lifestyle changes

[ are there significant lifestyle   changes     taking place--more modernization/ why ]

-Work/career and leisure attitudes

[ are the population      career minded and are seeking better lifestyle]

-Education

[ what are the education policies / is it successful ]

-Fashion, hypes

[are the   people    becoming fashion conscious ]

-Health consciousness & welfare, feelings on safety

[ are the people     becoming health consciousness]

-Living conditions

[ is the living conditions   improving fast and spreading rapidly]

=========================================================

4.Technological

Government research spending

[is the government    spending on research and development]

Industry focus on technological effort

[are the   industries    focused on using improved technology]

New inventions and development

[ are new inventions     being   encouraged for developments]

Rate of technology transfer

[ is the rate of technology transfer is speeding up ]

(Changes in) Information Technology

[ is the   information technology    rapidly moving and is there government support]

(Changes in) Internet

[ is the   internet usage    rapidly increasing   and why]

(Changes in) Mobile Technology [is the   Mobile   technology    rapidly developing and is there government support]

-------------------------------------------------------------------------------------

5.External Assessment---

Areas for opportunities and threats

* Markets [ what is the market situation, which is forcing the change requirements *Customers [ how can service the customer -internal / external -better .

* Industry [ is the industry trend ]

* Competition [ is it the competitive situation       *Factors of business [ causing the change]

* Technology [ is it technology change ]

===========================================================

STEP 6

CONDUCT A   ''SWOT''   ANALYSIS OF   THE   COMPANY'S RESOURCES.

Internal Assessment

Areas for strengths, weaknesses, and barriers to success

ORGANIZATION DIMENSIONS *Culture [ is the working culture change ]

* Organization [ is the organization demanding change ] * Systems [ is it the systems change ] * Management practices [ change in managemement process]

OTHER KEY DIMENSIONS

*Cost efficiency[ is it for cost efficiency ]

* Financial performance [ is it for financial performance improvement ]

* Quality [ is it for quality performance improvement *Service [ is it for service   performance improvement *Technology[ is it for technology   performance improvement * Market segments [ is it for sales performance improvement * Innovation[ is it for    performance improvement *new products[ is it for new product   performance improvement *Asset condition[ is it for financial performance improvement *productivity[ is it for financial performance improvement =====================================================

STEP 7

NOW THE CO. KNOWS    WHERE   IT STANDS.

PRIORITY   ISSUES

FROM THE ABOVE , DETERMINE   THE CORE ISSUES

WHICH NEEDS TO SOLVED WITH YOUR INVESTMENT.

STRATEGIC PROGRAMS

FROM THE ABOVE CORE ISSUES , DETERMINE YOUR

STRATEGIC PROGRAMS.

==================================

CORE ISSUES WERE

-change the organization structure to a matrix format,

to enable the product managers to concentrate on product development/ planning/ product marketing.

-change the distribution systems to introduce

more channels to widen the market coverage. Mission STATEMENT

[ to stay close to the customers and provide extended service]   Your CORE PURPOSE [ to bring maximum satisfaction to the customers]    Your   CORE   OBJECTIVES [to extend the market coverage and gain sales ]    Your   Core markets;

[defence -major customers like mines-medium industries]   Your CORE strategic thrusts.

[ productline extension - extended market coverage-channel exploitation]

COMPANY’S CORE COMPETENCIES for competitive strategies.

BUSINESS DEFINITION:

The arena of products, services, customers, technologies, distribution methods, and geography in which you'll compete to get results.

-===================================================

STEP 8

WHERE DOES THE CO.   WANTS    TO GO

¬

THE COMPANY ARRIVES AT THE FOLLOWING DECISIONS   AT THE END OF   THE SESSIONS:

1.REVENUE BUDGET.

[280 million dollars--maintain a growth rate of 20% over 3 successive years.]

2.GROSS PROFIT BUDGET.

[ aim for 35% of   sales]

3.NET PROFIT BUDGET.

[aim for 10% of sales ]

4.SALES TOTAL FORECAST.

5.SALES BY PRODUCTS.

6.OPERATIONAL EXPENSES BUDGET.

[22% constant for next   3 years ]

7.FIXED EXPENSES BUDGET.

[13 % constant for next   3 years]

8.PRODUCTIVITY IMPROVEMENT [over   the next 3 years---3% annually]

9.PROFITABILITY INCREMENT

[over   the next 3 years -----5%]

10. RETURN ON INVESTMENT.

[constant 6% over the next 3 years]

===========================================

IMPLEMENTATION.

PLANS ARE MADE DURING [SEPT/ OCT/NOV]

IMPLEMENTATION --FINANCIAL YEAR [ JAN - DEC]

MONITORING -quarterly audit of the programs/ plans/targets.

-monthly reviews of the plans/ targets.

INFORMATION USED IN MARKETING DEPARTMENT

-CUSTOMER   behaviors

-CUSTOMER   spending

-CUSTOMER    usage

-pricing analysis

-distribution points

-market potential / size

-geographical spread of   the market

-promotional spending analysis

-market analysis

etc etc

================================================

INFORMATION USED IN SALES   DEPARTMENT

-sales analysis

-territory analysis

-customer analysis

-distributors sales analysis

etc etc

=======================================================

INFORMATION USED IN MANUFACTURING   DEPARTMENT

-procurement analysis

-production cost analysis

-production planning

-material analysis

-R&D cost analysis

-inventory holding

-inventory cost analysis

-transport cost analysis

-warehousing cost analysis

etc etc ===================================================

INFORMATION USED IN FINANCE DEPARTMENT

-budgetory control

-expenses analysis

-profit / analysis

-balance sheet

-wages analysis

-product cost analysis

-break even analysis

etc etc

====================================================

INFORMATION USED IN HR DEPARTMENT

1.ABSENTEEISM PER EMPLOYEES [DAYS]

2.AVERAGE RECRUITMENT TIME [DAYS]

3.EMPLOYEE TURNOVER [ % ]

4.EMPLOYEE SATISFACTION [ LEVELS ]

5.AVERAGE EMPLOYEE TENURE [ YEARS]

6.INDUCTION TRAINING [ % OF NEW EMPLOYEES]

7. TRAINING WORKSHOP [ % ] CONDUCTED/PLANNED

8. TRAINING AT EXTERNAL COURSES [ %] ACTUAL / PLANNED

9.PERFORMANCE APPRAISALS [ NOS.] AGAINST TOTAL EMPLOYEES.

==============================================================

INFORMATION USED IN QA/OHS DEPARTMENT

-production rejects analysis

-customer rejects analysis

-rejection   cost analysis

-customer complaints analysis

etc etc

=====================================================

############################

4.) Evaluate the types of advantages and difficulties that a manufacturing firm may face in developing successful new products to achieve competitive advantage. New product development(NPD) is the term used to describe the complete process of bringing a new product or service to market. There are two parallel paths involved in the NPD process: one involves the idea generation, product design and detail engineering; the other involves market research and marketing analysis. Companies typically see new product development as the first stage in generating and commercializing new products within the overall strategic process of product life cycle management used to maintain or grow their market share.

•

•

NPD—NEW PRODUCT DEVELOPMENT   FACES MANY NEW CHALLENGES DURING THE PROCESS.

The process

1.   Idea Generation is often called the "fuzzy front end" of the NPD process o   Ideas for new products can be obtained from basic research using a SWOT analysis(Strengths, Weaknesses, Opportunities & Threats), Market and consumer trends, company's R&D department, competitors, focus groups, employees, salespeople, corporate spies, trade shows, or Ethnographic discovery methods(searching for user patterns and habits) may also be used to get an insight into new product lines or product features.

o   Idea Generation or Brainstorming of new product, service, or store concepts - idea generation techniques can begin when you have done your OPPORTUNITY ANALYSIS to support your ideas in the Idea Screening Phase(shown in the next development step).

o

2.   Idea Screening o   The object is to eliminate unsound concepts prior to devoting resources to them.

o   The screeners should ask several questions: ?   Will the customer in the target market benefit from the product?

?   What is the size and growth forecasts of the market segment/target market?

?   What is the current or expected competitive pressure for the product idea?

?   What are the industry sales and market trends the product idea is based on?

?   Is it technically feasible to manufacture the product?

?   Will the product be profitable when manufactured and delivered to the customer at the target price?

?

3.   Concept Development and Testing o   Develop the marketing and engineering details ?   Investigate intellectual property issues and search patent data bases

?   Who is the target market and who is the decision maker in the purchasing process?

?   What product features must the product incorporate?

?   What benefits will the product provide?

?   How will consumers react to the product?

?   How will the product be produced most cost effectively?

?   Prove feasibility through virtual computer aided rendering, and rapid prototyping

?   What will it cost to produce it?

o   Testing the Concept by asking a sample of prospective customers what they think of the idea. Usually via Choice Modelling.

o

4.   Business Analysis o   Estimate likely selling price based upon competition and customer feedback

o   Estimate sales volume based upon size of market and such tools as the Fourt-Woodlock equation

o   Estimate profitability and break-even point

o

5.   Beta Testing and Market Testing o   Produce a physical prototype or mock-up

o   Test the product(and its packaging) in typical usage situations

o   Conduct focus group customer interviews or introduce at trade show

o   Make adjustments where necessary

o   Produce an initial run of the product and sell it in a test market area to determine customer acceptance

o

6.   Technical Implementation o   New program initiation

o   Finalize Quality management system

o   Resource estimation

o   Requirement publication

o   Publish technical communications such as data sheets

o   Engineering operations planning

o   Department scheduling

o   Supplier collaboration

o   Logistics plan

o   Resource plan publication

o   Program review and monitoring

o   Contingencies - what-if planning

o

7.   Commercialization(often considered post-NPD) o   Launch the product

o   Produce and place advertisements and other promotions

o   Fill the distribution pipeline with product

o   Critical path analysis is most useful at this stage

o

8.   New Product Pricing o   Impact of new product on the entire product portfolio

o   Value Analysis(internal & external)

o   Competition and alternative competitive technologies

o   Differing value segments(price, value, and need)

o   Product Costs(fixed & variable)

o   Forecast of unit volumes, revenue, and profit

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