Market A New Product By Developing A Strategic Business Plan Essay

Market A New Product By Developing A Strategic Business Plan Essay

Length: 782 words (2.2 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

DQ 5

A) I would market a new product by developing a strategic business plan, “which is a carbon copy of the standard operational procedure that illustrates the functions of the business aspects that renders services to the community (Entrepreneur Media Inc., 2016). The more details within a business plan, the better customer services delivered to the consumer. Therefore, meaning the customer interaction and interruptions of the new product, you’re attempting to sell/market. Also, these strategies should be implemented than the higher the chances are for marketing the new product to the business sector.
B) The business plan displays the product quality and the customer 's expectations factor in a marketing strategy in numerous ways. For example, the customers are essential to the organization due to the client’s being the ones who are purchasing the product or analyzing the way the product is perceived/rendered to the community. Their impression of the product is vital to the company’s growth or development. Reputations often established in regards to the customer’s satisfaction of a particular individual, product, and services offered as a public service. Customers also are capable of using the concept using word of mouth, which involves their families and friends. Some of these individual’s may or may not have the direct insight of ways to interact with the business, but once the reputation put into the universe, it 's hard to alter/change. Some expectations of quality consist of strategies such as advertising the product. Inadequately advertisement of a product can make or break the deal of whether the product is moveable or marketable for sale within the industry or not.
C) Some examples of a product I use are clothing...


... middle of paper ...


... in the course syllabus she would share her personal experience such as writing grants with the students. I found this to be rather intriguing because it illustrates that even once this journey is complete, we as humans never stop reaching and setting goals, which incorporated into the Business in a changing world. The changes are where the various goals stimulated from and she definite encouraged my mind always to think outside the box because business includes all stakeholder. Therefore it, not your perception/big idea. These stimulating factors included additional links and resources we could use in class and outside of class. I learned exciting tips and strategies to implement in our local store as well, for example, roles of ethics and social duties, effective ways to make decisions, and organizational structure that includes the different cultural dynamics.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

The Market Strategy For Applied Cryogenics Essay

- STATEMENT OF A STRATEGY The definition of the market strategy for Applied Cryogenics is based on concept of "strategic triangle". This is the top-level objectives, regarding which the hierarchy of objectives for the organizational units of the company is aligns. CORPORATE OBJECTIVES Primarily corporate goals are aimed at profit making, but Applied Cryogenics is a just launched project, so it is not profitable for stackeholders therefore to change this situation, at this stage, the acceptable objectives are as follows: - develop and strengthen and protect the brand; - provide to the consumer a qualitatively new product and service; - find sources of supply of raw materials and energy; - maint...   [tags: Marketing, New Zealand, Product management]

Better Essays
938 words (2.7 pages)

Strategic Management And Strategic Competition Essay

- Strategic Management and Strategic Competition Introduction The Microsoft Corporation is a publicly traded company. It was founded in 1975 and prides itself as a leader in software and product solutions for individuals and businesses. Their mission and vision is to be a go-to source for everyone globally, and to be able to consistently produce platforms and products superior to the competition. Their comprehensive line-up makes them a very competitive business in the market, and one that can partner with a multitude of sources....   [tags: Strategic management, Strategic planning]

Better Essays
706 words (2 pages)

Essay on Strategic Pl Strategic Planning

- IT Strategic Planning IT strategic planning is the companies’ way of defining their direction and their methods of control for their IT department. It is a high-level plan that provides a framework for a business’s overall strategy for success. IT strategic plans are used by business owners and manager to provide the organization a clear focus. The process of creating a strategic plan involves analyzing the prevailing business market, setting goals and mapping out a course that will indicate how the business would work to achieve those goals....   [tags: Strategic planning, Strategy, Strategic management]

Better Essays
1082 words (3.1 pages)

Marketing Plan For A New Product Essay

- This paper will detail a strategic marketing plan for a new product that is ready to “go to market”. A strategic marketing plan is important when presenting a new product or service because it ensures that the maximum amount of profit can be obtained for the product. A good strategic marketing plan provides focus and helps to pinpoint opportunities. A strategic marketing plan incorporates an executive summary, target marketing, place, product, pricing and promotional strategies, and a distribution plan....   [tags: Marketing, Marketing plan, Hairdressing]

Better Essays
2276 words (6.5 pages)

Essay Strategic Analysis Of Pfizer 's Strategic Analysis

- 1. INTRODUCTION This is the second of three reports I will complete as part of the strategic analysis of Pfizer. This report focuses on strategy analysis and includes the following sections. First, the major concepts related to generic, corporate and international strategies analysis will be defined. Second, those concepts will be applied to the case of Pfizer in order to analyze its strategies. The analysis of Pfizer will be followed by its evaluation to identify the major problem the company is facing and propose a solution that Pfizer can adopt....   [tags: Strategic management, Strategic planning]

Better Essays
1231 words (3.5 pages)

Essay on The Impact Of Not Having A Strategic Plan

- 3 Impact of not having a strategic plan After being corporatized and listed on the Australian Stock Exchange in 1984, Wesfarmers was considered to be one of the most elite organisations based on the returns it offered to its shareholders. A major contributor to the organisations success is strategic planning. But would the organisation achieve the same amount of growth without planning. The absence of planning can impact the organisation in the following ways: • Loss of market share - Competition is increasing by the minute and organisations are always looking to outperform each other....   [tags: Strategic management, Strategic planning]

Better Essays
810 words (2.3 pages)

Strategic Management Planning And An Organization Essay

- This blog describes about the strategic management planning along with different firms in order to have maximum outcomes to choose a valid and effective strategic plan to be implemented. The Strategy formulation is key to the prosperity of an organization or association. There are two noteworthy by process used by an organization or an effort parts of technique: 1. The Corporate system, in which organizations choose which line or lines of business to participate in. 2. The business or focused methodology, which sets the structure for making progress in a specific business....   [tags: Strategic planning, Strategic management]

Better Essays
1604 words (4.6 pages)

Essay on The Principles Of Strategic Management

- From this report it’s reflected that potential business strategies and also internal strength and external weakness. It is supposed that the resources and technology available that time are not equivalent to current situation. Apart from the study we got the business strategies with vision and mission besides strategic opportunities. The principles of strategic management and the Michael Porter’s Generic Strategies are trying associated to this case study. This report willdemonstrate how the principle of strategic management applies to any organization and help organisation to achieve their long-term objectives....   [tags: Strategic management, Strategic planning]

Better Essays
1377 words (3.9 pages)

Essay about The Value Of Strategic Planning

- Analyzing the value of strategic planning related to IT “You’ve got to be very careful if you don’t know where you are going, because you might not get there.” by Yogi Berra. Similarly, firms have to formulate plans that help them achieve the desired outcomes and objectives by making sure they utilize their existing resources carefully. This process or plan is nothing but strategic planning. Major issues why IT isn’t a part of business strategic planning is because (a) value of IT is not understood by majority of executives (b) opportunities to use information technology are not recognized and applied because more importance is given to meet business goals and objectives and (c) The pace at...   [tags: Strategic management, Strategic planning]

Better Essays
702 words (2 pages)

Strategic Thinking Essay

- Strategic Thinking Many city departments in other states have faced similar issues as the Houston Public Library. The Houston Public Library can benchmark those companies that have demonstrated strategic thinking to resolve parallel issues. Strategic thinking is the approach in which group in an organization think about, access, view, and creates the future for themselves and their associates. It is more than responding to day-to-day as well as long-term problems, opportunities, and new realities; it is creating tomorrow....   [tags: Strategic Analysis Organization]

Free Essays
1044 words (3 pages)