There are three basic aspects of international marketing: (1) the new product development process which involves generating product ideas, screening ideas, analyzing costs and demand, developing and testing products, and commercialization; (2) the demand management process which involves strategic planning, portfolio management, decision rights, financial planning, prioritization, and ensuring business value; and (3) the sales marketing process which involves researching the marketing mix and performance, financial forecasting, setting objectives, developing marketing strategies and action plans, and controlling results.
Service-Based Business Models & Circular Strategies for textiles
Circle Economy, September 2015
Helene Smiths, Gwen Cunningham, Jade Wilting, Chloe De Roos Feinberg, Kay van ´t Hot
C.S.R: CORPORATE SOCIAL RESPONSIBILITY - All that you Need to Know.Satyaki Chowdhury
This Presentation on CSR will give you the very core idea of what is CSR, how it evolved, what are it's applications, its effect on the aspect of Business & Some examples of CSR's Involvement in and outside India!!!!
Hope you will get a basic idea of CSR from the presentation.
Thank You.
The document discusses the Service Quality GAPS Model, which was developed by Parasuraman, Zeithaml, and Berry in 1988. The model identifies five key gaps that can lead to unsatisfactory customer experiences. The largest gap is the "Customer Gap," which is the difference between customer expectations and their perceptions of service received. The other four "Provider Gaps" occur within the service organization and must be addressed to close the Customer Gap. These include not knowing customer expectations, not having appropriate service designs/standards, inability to deliver services meeting standards, and failure to communicate promises aligned with performance. Addressing all gaps is necessary to provide consistently high quality service that meets or exceeds customer expectations.
Sustainable Business Model Canvas - the key building blocks for assessing and planning sustainable business models, operations and best practice - all on one page!
Digital marketing assignment 30.3.2015- finalArun Shiva K
The document assesses the current eMarketing strategy of The Willow Tea Rooms located in Glasgow, Scotland, analyzing the macro and micro environment and developing new strategic objectives and tactics. It identifies key opportunities and challenges in the online space, develops consumer personas, and recommends strategies around market penetration, customer engagement, and brand positioning to increase sales and build awareness of the tea rooms. Evaluation metrics are suggested to refine and manage the eMarketing strategy over the long run.
Here are the answers to the quiz questions:
1. The four basic elements in Strategic Management are:
- Environmental scanning
- Strategy formulation
- Strategy implementation
- Evaluation and control
2. Porter's 5 forces that affect an industry in creating organization strategy are:
- Threat of new entrants
- Rivalry among existing competitors
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products
3. The 3 types of strategies are:
- Corporate strategy
- Business strategy
- Functional strategy
Service-Based Business Models & Circular Strategies for textiles
Circle Economy, September 2015
Helene Smiths, Gwen Cunningham, Jade Wilting, Chloe De Roos Feinberg, Kay van ´t Hot
C.S.R: CORPORATE SOCIAL RESPONSIBILITY - All that you Need to Know.Satyaki Chowdhury
This Presentation on CSR will give you the very core idea of what is CSR, how it evolved, what are it's applications, its effect on the aspect of Business & Some examples of CSR's Involvement in and outside India!!!!
Hope you will get a basic idea of CSR from the presentation.
Thank You.
The document discusses the Service Quality GAPS Model, which was developed by Parasuraman, Zeithaml, and Berry in 1988. The model identifies five key gaps that can lead to unsatisfactory customer experiences. The largest gap is the "Customer Gap," which is the difference between customer expectations and their perceptions of service received. The other four "Provider Gaps" occur within the service organization and must be addressed to close the Customer Gap. These include not knowing customer expectations, not having appropriate service designs/standards, inability to deliver services meeting standards, and failure to communicate promises aligned with performance. Addressing all gaps is necessary to provide consistently high quality service that meets or exceeds customer expectations.
Sustainable Business Model Canvas - the key building blocks for assessing and planning sustainable business models, operations and best practice - all on one page!
Digital marketing assignment 30.3.2015- finalArun Shiva K
The document assesses the current eMarketing strategy of The Willow Tea Rooms located in Glasgow, Scotland, analyzing the macro and micro environment and developing new strategic objectives and tactics. It identifies key opportunities and challenges in the online space, develops consumer personas, and recommends strategies around market penetration, customer engagement, and brand positioning to increase sales and build awareness of the tea rooms. Evaluation metrics are suggested to refine and manage the eMarketing strategy over the long run.
Here are the answers to the quiz questions:
1. The four basic elements in Strategic Management are:
- Environmental scanning
- Strategy formulation
- Strategy implementation
- Evaluation and control
2. Porter's 5 forces that affect an industry in creating organization strategy are:
- Threat of new entrants
- Rivalry among existing competitors
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products
3. The 3 types of strategies are:
- Corporate strategy
- Business strategy
- Functional strategy
This document discusses the concepts of blue ocean strategy and red ocean strategy. Blue ocean strategy involves creating new market space and making competition irrelevant by focusing on factors that the industry has never offered. It uses tools like the strategy canvas and four action framework to eliminate, reduce, raise or create new factors. Red ocean strategy involves competing in existing market space by beating competition. The document outlines six principles for formulating a blue ocean strategy, including reconstructing market boundaries and focusing on reaching beyond existing demand. It also discusses overcoming key organizational hurdles and building execution into strategy for successfully executing blue ocean strategy.
IDEO workshop for Techstars - we covered Purpose, Research, Empathy and finally Experimentation.
You can see my deck here and download the exercise on my blog here: http://thul.me/14Tp2D8
The document discusses building a strong service culture in organizations. It defines service culture as promoting behaviors that lead to high customer service. Building a service culture requires sustained efforts over time, including developing people, hiring the right employees, providing support, and ensuring a customer-centric focus. There are also seven gaps in effective service delivery: knowledge, standards, delivery, internal communication, perception, interpretation, and service gaps. Strategies to close these gaps include clarifying employee roles, setting realistic communication promises, and ensuring performance meets standards.
This document defines culture and service culture. It states that culture consists of shared patterns, beliefs, traditions, and orientations that define an organization. A service culture prioritizes customer satisfaction above all else and ensures all employee activities contribute to customer objectives. Building a strong service culture requires hiring the right people, retaining top performers, developing employees to deliver quality service, and providing necessary support systems.
The document discusses whether corporate social responsibility (CSR) is genuinely used to benefit society or merely as a marketing tool. It covers the evolution and strategies of marketing CSR, similarities between public relations and CSR, and how CSR affects brand image. Specifically, it examines how CSR can be viewed differently depending on whether one's perspective is from marketing or CSR professionals, with the former seeing CSR as incorporating duty while the latter may see it as empty promises for marketing purposes.
This document provides an overview of cross-cultural management concepts including:
- Culture is learned behavior shared among members of a society that influences norms, values, and practices.
- Elements of culture include language, values, norms, attitudes, customs, and more.
- Cultural determinants include religion, language, education, and social structure.
- Cross-cultural theories like Hofstede analyze cultural dimensions like power distance, uncertainty avoidance, and individualism vs collectivism that influence behaviors.
- Understanding cultural differences is important for effective cross-cultural communication and management.
This document discusses organizational and business ethics. It begins by defining organizational business ethics as the application of individual morality to choices made in professional contexts and business situations. It then discusses why ethics are important for organizations, noting they can influence employee commitment, investor/customer loyalty, legal issues, reputation, and profits. The document outlines ethical dilemmas organizations may face and the role of leaders in developing an ethical culture through training, strong values, strategic plans, and building integrity. It concludes that high ethics companies are driven by values, ensure fair treatment, and can make ethics a core competency.
Using the definition
AS ALIGNED TO WHERE CHANGE CAN BE MOST AFFECTED: DIGITAL TRANSFORMATION IS… the re-alignment of, or new investment in – process, technology and
business models to more effectively engage Digital Consumers at every touchpoint
in the customer experience lifecycle.
The starting point is to frame the discussion.
Marketing has evolved with technological changes. Marketing 1.0 focused on selling products without considering customer needs. Marketing 2.0 is customer-centric but still focuses on profits. Marketing 3.0 will treat customers as human beings who want to actively participate and have their anxieties and desires fulfilled. It will be collaborative, with companies and customers co-creating value, iconic by addressing societal contradictions, and independent by giving customers freedom to communicate on their own terms.
An ethical culture within a business is centered around keeping promises, personal integrity, and moral relationships. Maintaining an ethical culture requires constant monitoring, ethics education, and clear policies set by senior leadership. It is important for the entire organization to take responsibility for upholding the values of the company. An ethical culture benefits a business through improved reputation, employee morale and productivity, credibility with consumers, and reduced financial risk. Leaders should model ethical behavior and provide training, feedback, and recognition to reinforce ethical conduct throughout the organization.
The document discusses service blueprints, which are maps that precisely portray how a service process is built. Service blueprints are useful for developing and designing new services. The document provides an example of a hotel service blueprint that maps out the customer actions and physical evidence involved in parking at a hotel, checking in, going to a room, ordering room service, sleeping, showering, checking out, and leaving. It also outlines the onstage contact, backstage contact, and support processes involved at each step.
Friedman vs Carroll, Social responsibility and Ethics in Strategic ManagementAdepitan Fasoro
The document summarizes the views of Milton Friedman and Archie Carroll on corporate social responsibility. Friedman argues that the sole social responsibility of business is to increase profits for shareholders within legal bounds. Carroll proposes that businesses have economic, legal, ethical and discretionary responsibilities, with economic responsibilities being the primary concern. The document also provides examples of companies that follow Friedman's view of focusing solely on profits, as well as examples of companies that demonstrate Carroll's view of broader corporate social responsibilities.
5 w model for customer analysis feb 2013Earner Prince
This document outlines a 5W model for customer analysis that can be used to better understand customers. The model examines who customers are, what they do with products, where they purchase products, why and how they select products, and why potential customers do not purchase products. It provides questions under each area to guide analysis of customers, such as their demographics, purchasing behaviors, needs, and reasons for not purchasing.
Ethics in International Business slides pptxOsama Yousaf
This document discusses ethics in international business. It begins by defining business ethics and noting there are differing opinions on ethical standards. Cultural and religious differences between countries can lead to varying views of what is considered ethical. The document then examines several key ethical issues that arise for international businesses, such as employment practices, human rights, environmental protection, corruption, and social responsibility. It also discusses why unethical behavior sometimes occurs and emphasizes the importance of establishing an ethical organizational culture and leadership. The document concludes by outlining a five-step process for making ethical decisions.
Human-centred design (HCD) is sweeping business because of the way it profoundly reconfigures how companies develop strategy, solve their most pressing problems and successfully compete in an era of constant change.
But is there any hard evidence that HCD has a measurable impact?
There is. Design Management Institute found that S&P 500 companies who use HCD outperform their competitors by 211 percent. Forrester Research found that organizations with sophisticated HCD capabilities can deliver an ROI of 85% or greater on their innovation initiatives.
Join Tom Merrill, Master Facilitator at ExperiencePoint, for a 45-minute webinar to learn:
The foundations of HCD and how the approach can be used across an organization to drive customer-centricity, innovation and people-led transformation
The fundamental steps required to build a design-led organization, including how to sell HCD internally
How innovative companies are using HCD as a competitive advantage to drive record growth and success
The potential barriers to innovation and how to overcome them
An approach to measure the overall impact of HCD in practice
Marketing and encouraging consumer demand often leads to consumption of natural resources and unsustainability. Presently marketers identify the importance of sustainability in the marketing concept and thus they focused on energy saving, use of biodegradable material and recycle the used material for manufacturing and packaging the products. Sustainable marketing helps to reduce the carbon footprint, waste material and use of plastic products.
This document provides a summary of key concepts in service design, including service concept, value proposition, customer roles, performance attributes, cost, scenario, stories, personas, and service visualization. It defines these terms and discusses how they are used in service design to develop a holistic understanding of services from the customer perspective.
Organizational culture is defined as the shared beliefs, customs, traditions, and values of an organization's members. It is shaped by an organization's founders, leaders, selection practices, and socialization of new employees. Maintaining culture involves selecting new members who share the existing values and socializing them to accept prevailing norms and customs through stories, rituals, symbols, and language used in the organization.
This presentation explains the concept of Corporate Social Responsibility and strategy ti=o implement it as well. At the same time, MICROSOFT CO. is chosen to illustrate the idea and as well explained how it managed to be the 1st in the the list of THE FORBES magazine.
The document outlines the key steps in new product development: idea generation, product screening, concept testing, business and financial analysis, product development, test marketing, and commercialization. It then discusses three key factors for effective product development according to research: 1) having a high-quality new product process with early customer input and go/kill decision points, 2) clear communication of a new product strategy and goals, and 3) allocating adequate resources like people, time and funding for new products.
The document outlines the key steps in new product development: idea generation, product screening, concept testing, business and financial analysis, product development, test marketing, and commercialization. It then discusses three key factors for effective product development according to research: 1) having a high-quality new product process with early customer input and go/kill decision points, 2) clear communication of a new product strategy and goals, and 3) allocating adequate resources like people, time and funding for new products.
This document discusses the concepts of blue ocean strategy and red ocean strategy. Blue ocean strategy involves creating new market space and making competition irrelevant by focusing on factors that the industry has never offered. It uses tools like the strategy canvas and four action framework to eliminate, reduce, raise or create new factors. Red ocean strategy involves competing in existing market space by beating competition. The document outlines six principles for formulating a blue ocean strategy, including reconstructing market boundaries and focusing on reaching beyond existing demand. It also discusses overcoming key organizational hurdles and building execution into strategy for successfully executing blue ocean strategy.
IDEO workshop for Techstars - we covered Purpose, Research, Empathy and finally Experimentation.
You can see my deck here and download the exercise on my blog here: http://thul.me/14Tp2D8
The document discusses building a strong service culture in organizations. It defines service culture as promoting behaviors that lead to high customer service. Building a service culture requires sustained efforts over time, including developing people, hiring the right employees, providing support, and ensuring a customer-centric focus. There are also seven gaps in effective service delivery: knowledge, standards, delivery, internal communication, perception, interpretation, and service gaps. Strategies to close these gaps include clarifying employee roles, setting realistic communication promises, and ensuring performance meets standards.
This document defines culture and service culture. It states that culture consists of shared patterns, beliefs, traditions, and orientations that define an organization. A service culture prioritizes customer satisfaction above all else and ensures all employee activities contribute to customer objectives. Building a strong service culture requires hiring the right people, retaining top performers, developing employees to deliver quality service, and providing necessary support systems.
The document discusses whether corporate social responsibility (CSR) is genuinely used to benefit society or merely as a marketing tool. It covers the evolution and strategies of marketing CSR, similarities between public relations and CSR, and how CSR affects brand image. Specifically, it examines how CSR can be viewed differently depending on whether one's perspective is from marketing or CSR professionals, with the former seeing CSR as incorporating duty while the latter may see it as empty promises for marketing purposes.
This document provides an overview of cross-cultural management concepts including:
- Culture is learned behavior shared among members of a society that influences norms, values, and practices.
- Elements of culture include language, values, norms, attitudes, customs, and more.
- Cultural determinants include religion, language, education, and social structure.
- Cross-cultural theories like Hofstede analyze cultural dimensions like power distance, uncertainty avoidance, and individualism vs collectivism that influence behaviors.
- Understanding cultural differences is important for effective cross-cultural communication and management.
This document discusses organizational and business ethics. It begins by defining organizational business ethics as the application of individual morality to choices made in professional contexts and business situations. It then discusses why ethics are important for organizations, noting they can influence employee commitment, investor/customer loyalty, legal issues, reputation, and profits. The document outlines ethical dilemmas organizations may face and the role of leaders in developing an ethical culture through training, strong values, strategic plans, and building integrity. It concludes that high ethics companies are driven by values, ensure fair treatment, and can make ethics a core competency.
Using the definition
AS ALIGNED TO WHERE CHANGE CAN BE MOST AFFECTED: DIGITAL TRANSFORMATION IS… the re-alignment of, or new investment in – process, technology and
business models to more effectively engage Digital Consumers at every touchpoint
in the customer experience lifecycle.
The starting point is to frame the discussion.
Marketing has evolved with technological changes. Marketing 1.0 focused on selling products without considering customer needs. Marketing 2.0 is customer-centric but still focuses on profits. Marketing 3.0 will treat customers as human beings who want to actively participate and have their anxieties and desires fulfilled. It will be collaborative, with companies and customers co-creating value, iconic by addressing societal contradictions, and independent by giving customers freedom to communicate on their own terms.
An ethical culture within a business is centered around keeping promises, personal integrity, and moral relationships. Maintaining an ethical culture requires constant monitoring, ethics education, and clear policies set by senior leadership. It is important for the entire organization to take responsibility for upholding the values of the company. An ethical culture benefits a business through improved reputation, employee morale and productivity, credibility with consumers, and reduced financial risk. Leaders should model ethical behavior and provide training, feedback, and recognition to reinforce ethical conduct throughout the organization.
The document discusses service blueprints, which are maps that precisely portray how a service process is built. Service blueprints are useful for developing and designing new services. The document provides an example of a hotel service blueprint that maps out the customer actions and physical evidence involved in parking at a hotel, checking in, going to a room, ordering room service, sleeping, showering, checking out, and leaving. It also outlines the onstage contact, backstage contact, and support processes involved at each step.
Friedman vs Carroll, Social responsibility and Ethics in Strategic ManagementAdepitan Fasoro
The document summarizes the views of Milton Friedman and Archie Carroll on corporate social responsibility. Friedman argues that the sole social responsibility of business is to increase profits for shareholders within legal bounds. Carroll proposes that businesses have economic, legal, ethical and discretionary responsibilities, with economic responsibilities being the primary concern. The document also provides examples of companies that follow Friedman's view of focusing solely on profits, as well as examples of companies that demonstrate Carroll's view of broader corporate social responsibilities.
5 w model for customer analysis feb 2013Earner Prince
This document outlines a 5W model for customer analysis that can be used to better understand customers. The model examines who customers are, what they do with products, where they purchase products, why and how they select products, and why potential customers do not purchase products. It provides questions under each area to guide analysis of customers, such as their demographics, purchasing behaviors, needs, and reasons for not purchasing.
Ethics in International Business slides pptxOsama Yousaf
This document discusses ethics in international business. It begins by defining business ethics and noting there are differing opinions on ethical standards. Cultural and religious differences between countries can lead to varying views of what is considered ethical. The document then examines several key ethical issues that arise for international businesses, such as employment practices, human rights, environmental protection, corruption, and social responsibility. It also discusses why unethical behavior sometimes occurs and emphasizes the importance of establishing an ethical organizational culture and leadership. The document concludes by outlining a five-step process for making ethical decisions.
Human-centred design (HCD) is sweeping business because of the way it profoundly reconfigures how companies develop strategy, solve their most pressing problems and successfully compete in an era of constant change.
But is there any hard evidence that HCD has a measurable impact?
There is. Design Management Institute found that S&P 500 companies who use HCD outperform their competitors by 211 percent. Forrester Research found that organizations with sophisticated HCD capabilities can deliver an ROI of 85% or greater on their innovation initiatives.
Join Tom Merrill, Master Facilitator at ExperiencePoint, for a 45-minute webinar to learn:
The foundations of HCD and how the approach can be used across an organization to drive customer-centricity, innovation and people-led transformation
The fundamental steps required to build a design-led organization, including how to sell HCD internally
How innovative companies are using HCD as a competitive advantage to drive record growth and success
The potential barriers to innovation and how to overcome them
An approach to measure the overall impact of HCD in practice
Marketing and encouraging consumer demand often leads to consumption of natural resources and unsustainability. Presently marketers identify the importance of sustainability in the marketing concept and thus they focused on energy saving, use of biodegradable material and recycle the used material for manufacturing and packaging the products. Sustainable marketing helps to reduce the carbon footprint, waste material and use of plastic products.
This document provides a summary of key concepts in service design, including service concept, value proposition, customer roles, performance attributes, cost, scenario, stories, personas, and service visualization. It defines these terms and discusses how they are used in service design to develop a holistic understanding of services from the customer perspective.
Organizational culture is defined as the shared beliefs, customs, traditions, and values of an organization's members. It is shaped by an organization's founders, leaders, selection practices, and socialization of new employees. Maintaining culture involves selecting new members who share the existing values and socializing them to accept prevailing norms and customs through stories, rituals, symbols, and language used in the organization.
This presentation explains the concept of Corporate Social Responsibility and strategy ti=o implement it as well. At the same time, MICROSOFT CO. is chosen to illustrate the idea and as well explained how it managed to be the 1st in the the list of THE FORBES magazine.
The document outlines the key steps in new product development: idea generation, product screening, concept testing, business and financial analysis, product development, test marketing, and commercialization. It then discusses three key factors for effective product development according to research: 1) having a high-quality new product process with early customer input and go/kill decision points, 2) clear communication of a new product strategy and goals, and 3) allocating adequate resources like people, time and funding for new products.
The document outlines the key steps in new product development: idea generation, product screening, concept testing, business and financial analysis, product development, test marketing, and commercialization. It then discusses three key factors for effective product development according to research: 1) having a high-quality new product process with early customer input and go/kill decision points, 2) clear communication of a new product strategy and goals, and 3) allocating adequate resources like people, time and funding for new products.
Generating ideas is not the issue. Executing on them is. This whitepaper discusses how manufacturers can improve new product development through strategic portfolio management, program execution management, product development, and manufacturing planning and validation. It emphasizes integrating people and processes through capabilities like requirements management, project planning, resource management, and risk management to foster sustainable innovation. Leading companies use product lifecycle management solutions to coordinate development teams and ensure new products meet market needs.
The document outlines the key steps in an effective product development process:
1. Idea generation through identifying customer needs and opportunities for improvement.
2. Product screening to evaluate ideas and select the most promising concepts.
3. Concept testing to get early customer feedback before full development.
4. Business and financial analysis of remaining concepts.
5. Product development and testing.
6. Test marketing before full commercial launch.
7. Commercialization through full production and implementation of marketing plans.
Three factors for success are having a quality new product process, a clear strategy, and adequate resources.
The document discusses the importance of developing a solid marketing plan for a business. It outlines the key components of an effective marketing plan, including conducting a SWOT analysis, identifying customer needs and target markets, setting objectives and metrics, developing strategies and action plans, creating budgets and controls. The document emphasizes that a good marketing plan is essential for meeting business goals and having a successful career in marketing.
The document discusses developing marketing strategies and plans at different levels within an organization. It covers strategic planning, analyzing the business portfolio using tools like BCG matrix, SWOT analysis, targeting market segments, and positioning strategies. Marketing's role is to provide strategic guidance, identify opportunities, design effective strategies, and manage the marketing effort through analysis, planning, implementation, and control.
This document discusses tools and processes for innovation and entrepreneurship. It provides an outline for a business plan, including sections on marketing, production, management, and finances. Key points covered include brainstorming techniques for generating ideas, screening ideas through macro and micro analysis, using SWOT to evaluate remaining ideas, and standard components of a business plan like executive summary, products/services, market analysis, operations, and financial projections. The document emphasizes that planning is an ongoing process, not just a static plan, and outlines best practices for an effective business plan.
This document discusses business level strategy and its major components. A business level strategy determines a company's position in its industry and direction of profits. It affects how the company serves its customers. The best approach integrates different business level strategies like cost leadership, differentiation, focused differentiation, and focused low-cost. Developing an effective strategy requires understanding customers, resources, competitors, and the company's capabilities.
The document provides an overview of several strategic planning models and frameworks that can be used in strategic planning, including:
- Strategy map - A diagram that visually communicates an organization's strategy and how objectives align across different levels.
- Balanced scorecard - A framework that translates an organization's strategy into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
- SWOT analysis - An analysis of an organization's strengths, weaknesses, opportunities, and threats to inform strategic planning.
The document discusses the key components and benefits of these models to effectively communicate and implement organizational strategies.
Page 1 of 2 Capstone Experience in Integration & Strategy .docxalfred4lewis58146
The document discusses undertaking a strategic audit to improve a company's performance. It recommends the following initial steps:
1) Analyze the external environment, including competition, market trends, and changes in customer needs.
2) Evaluate the company's resources and capabilities to determine what is and isn't working given the company's growth.
3) Assess if the company has the right people in the right jobs and make changes if needed.
4) Review the strategic plan and vision to ensure they are aligned with current capabilities.
Strategic Planning: Developing and Implementing a Marketing PlanMarjorie Rice
The document outlines the key components of developing and implementing an effective marketing plan, including conducting a situation analysis, setting objectives, selecting strategic alternatives, describing the marketing strategy with the four P's, and following up with implementation, evaluation, and control. The marketing plan provides a guide for marketing activities and allows companies to examine opportunities and problems in the market. Developing a plan involves understanding the business mission and creating specific, measurable objectives to direct marketing activities and measure success.
XYZ Sports Express manufactures and sells sports shoes domestically and internationally, targeting young people aged 14-25. Strategic marketing is important for XYZ to formulate effective strategies using the 7Ps of marketing. XYZ analyzes factors like its resources, goals, and market to develop flexible strategies. It implements control measures to evaluate strategy effectiveness and make adjustments. XYZ focuses on its core business of sports shoes but considers opportunities to serve new customer segments through innovative value propositions.
The document discusses various aspects of starting a new business, including generating ideas, evaluating ideas through feasibility studies, preparing a business plan, executing the business plan, and the role of society and family. It provides details on conducting industry and market analysis, assessing financial feasibility, and evaluating the entrepreneur. Key components of a business plan like the executive summary, organization description, marketing plan, and financial projections are also outlined. The document emphasizes the importance of alignment between strategy, people and processes for successful business plan execution and ongoing review.
BALANCED SCORECARD
The balanced scorecard is used as a tool by management to measure the performance of the boutique. The aim of this balanced scorecard is to ensure that all the operations in the boutique are in line with the values, mission, and vision of the boutique. From the SWOTT analysis, we were able to identify the strengths, weaknesses, opportunities, and threats of the business. In the development of this balanced scorecard, we use all the information obtained from the SWOTT analysis to ensure success in the business. The balanced scorecard helps both employees and the management to look at organizational needs and requirements at a different perspective.
Figure 1.0 : The balanced scorecard
Strategic objectives
Measures
Targets
Strategic priority
Financial Perspective
· F1: increase return on investment
· F2: growth in profits
· F3: Asset utilization
· ROCE
· Net margin
· Cash flow
· 20%
· 30%
· $700mm
· Become a financially stable business
Customer Value Perspective
· Meet client needs and requirements
· Develop a good relationship with the costumers
· Improve brand image
· Costumer ratings
· Profits earned by dealers
· Portion of segment
· 24%
· 30%
· 6.4%
· Ensure costumer satisfaction
· Establish a good relationship with clients
Internal Operations Perspective
· Cost leader
· Inventory management
· Innovative services and products
· Perfect orders
· Activity competition vs. cost
· New services/ products ROI
· 90%+
· 80%
· 30%+
· Escalate costumer value
· Excellence in operation
· Establish the franchise
Learning and Growth (Employee) Perspective
· Competence
· Improved skills
· Better leadership
· Establish an organizational culture
· Strategic competencies
· Employee survey
· Personal balanced scorecard
· 24%+
· >75%
· > 84%
· 75%
· Creating a conducive work environment
· Developing a good relationship between management and staff members
The strategic objectives were derived from current outcomes, research, managerial expectations, among other factors that influence the boutique’s performance. The balanced scorecard acts as a platform and catalyst for learning. The objectives were also derived from these questions; what are the common failures in the boutique’s operations? How can the boutique’s performance be measured? Does the boutique meet current demand and costumer needs? Answers to these questions and others came a long way in ensuring that the right strategic objectives were developed for the boutique. In order to link various forms of performance measurement the business is required to critically analyze the mission, values, vision, and the SWOTT analysis. The development of the strategic objective starts with one reflecting on the company’s visions, values, SWOTT analysis, and mission. In this stage, the management is required to scrutinize all ...
The document outlines the 8 steps in the new product development (NPD) process: 1) idea generation, 2) idea screening, 3) concept development and testing, 4) marketing strategy development, 5) business analysis, 6) product development, 7) test marketing, and 8) commercialization. It provides details on activities and objectives at each step, including generating and filtering ideas, developing product concepts, evaluating business potential, creating prototypes, testing products and marketing plans, and launching new products. The overall goal is to bring new products to market that deliver superior customer value.
Strategic marketing and rural marketingNil Wahulkar
This document discusses strategic marketing management and rural marketing. It begins by defining strategic marketing management and its goals of identifying target customers, uncovering new opportunities, building strategic marketing plans, and implementing marketing plans. It then discusses identifying target customers, uncovering strategic opportunities, building strategic marketing plans, and implementing marketing plans. The document also discusses corporate strategic planning processes, SWOT analysis in strategic marketing, differentiation strategy, obtaining a sustainable competitive advantage, strategies for declining and hostile markets, product and service strategy, marketing communication strategy, and marketing channel strategy.
The document discusses marketing processes and strategic marketing planning. It covers defining a corporate mission and goals, establishing business units, conducting SWOT and environmental analyses, developing marketing strategies using frameworks like Ansoff's matrix and Porter's generic strategies, creating a marketing plan, and analyzing marketing opportunities through internal records and market intelligence. The purpose of strategic planning and having a marketing plan is to help firms deliver targeted profits and growth.
Similar to Basic aspects of international marketing (20)
1. Basic aspects of International Marketing
There are three basic aspects of International marketing are as follows:-
The new product development process
Demand management
Sales marketing process
(1) The new product development process can be defined as follows:-
This process characterizes itself as integration between Marketing, R&D/Engineering and
Manufacturing. Besides, several operating levels are active within the new product
development process.
The steps shown in figure will be explained below:
Product idea generation
The first step in the process means the creation of a large number of product ideas. New
product ideas can come from many sources: customers, scientists, competitors, company
(sales) people or channel members, etc. However in order to eliminate unpromising product
ideas in the NPD process as early as possible, and to ensure that the development efforts fit
into a firm's product strategy, the process must be closely tied to the strategic (marketing)
planning .
Idea screening
As the purpose of idea generation is to create a large number of ideas, the purpose of the
succeeding stages is to reduce the number of ideas to an attractive practical few. The first
idea-pruning stage is screening. During the idea screening stage, the ideas are analyzed
against a set of predetermined criteria, to determine which ideas are pertinent and appropriate
for the company. The product ideas have to match with company objectives, (product line)
strategies and resources. Therefore, a variety of tools and techniques have been provided, to
assist in screening new product ideas, including rating scale and checklist models of product
success/failure discriminators.
2. Business analysis and forecasting
Before the screened idea will further be developed into a prototype, first production cost,
profitability and demand have to be forecasted, for example, by using the following
techniques: PERT(=Program Evaluation Review Technique) or CPA(=Critical Path
Analysis). With these techniques there can be given an answer to the following questions:
"Can we make it?", "Should we make it?" and "Can we sell it?”
Product development and testing
When the answers to the above questions are positive, the approved idea can be further
developed into a prototype and finally in a physical product. Then will be tested if the
product is safe and efficient.
Market testing
After the company is satisfied with the product's functional performance, the product is ready
to be dressed up with a preliminary marketing program and to be tested. The purpose of
market testing is to learn what the product's impact is in a competitive environment and how
customers and dealers react to handling, using and purchasing the actual product. This will
provide much more accurate details on market acceptance and thus, sales and profit.
Market research and commercialization
The final stage of the new product development process is commercialization. At the
commercialization stage the marketing manager must ensure he has the answers to the
following questions: when the product will be launched, to whom, where and how.
(2) Demand management process
To get funding for PRODUCT-enabled projects, it's necessary to navigate the PRODUCT
demand management process to prove that you are investing wisely in PRODUCT.
Unfortunately, the process can be as bad as its name. Bad, but necessary, given the
unquenchable thirst for PRODUCT services and the fact that, according to my survey (still in
process),
Over 50% of business and PRODUCT leaders agree that business leaders make half-baked
requests and are clueless about enterprise impact
Nearly 60% of business leaders admit that they want it all — right now — regardless of
ROI
Almost 35% admit of business leaders admit to getting enamored with PRODUCT fads
As PRODUCT becomes embedded within every aspect of the business, there's an infinite
number of great ways to apply technology and a lot of business leaders find themselves
competing for the same resources. "Demand management" is a governance process to allocate
limited PRODUCT resources to benefit the enterprise as a whole. When fully implemented,
demand management provides business leaders the information and capabilities to understand
3. PRODUCT costs, evaluate potential investments and convert PRODUCT-enabled
investments into business results. Demand management consists of six components:
Strategic planning provides the prioritization context for all investments, including what
PRODUCT-enabled capabilities are required, how much can be spent on PRODUCT, what
return is expected, and how PRODUCT will be managed to promote and protect enterprise
interests while encouraging business unit innovation
Portfolio management translates strategy in to how much should be spent on each of the
three types of PRODUCT-enabled investments (e.g., strategic, enhancement, and keeping
the lights on) and, on an ongoing basis, is used to guide decisions and facilitate cross-
organization project review
Decision rights are allocated to ensure responsible PRODUCT decision making consistent
with the principle that business leaders should have the authority to decide "what"
PRODUCT is needed while PRODUCT leaders should have the authority to decide "how"
PRODUCT is delivered
Financial planning determines the actual amount of funding available for PRODUCT-
enabled investments and allocates the funding in budgets consistent with the strategic plan,
portfolio targets and decision rights
Prioritization and funding decisions occur on an ongoing basis across and down the
organization in line with decision rights and criteria established during strategic planning,
portfolio management, and financial planning
Value management reinforces accountability for realization of tangible business value by
reviewing projections, ascertaining commitments, monitoring results. The fact that only 5-
10% of companies hold their business leaders accountable for business value from
PRODUCT-enabled investments is a huge opportunity for you. If you are willing to
promise to deliver measurable results, you will go to the front of the line
4. Yes, the demand management process can be onerous, unless you know how to play the
game. When proposing investments:
Align with enterprise strategies and clearly define the desired outcomes
Deliver value with your proposed initiative early and often to justify both one-time and
ongoing costs and resources
Show how your project will enhance cross-enterprise collaboration and integrate critical
processes, information and technology
Assign the best and brightest employees
Demonstrate how your proposals will leverage existing technology, improve systems
performance, reduce "keeping the lights on" costs, and mitigate risks
(3) Sales marketing process:
The Sales marketing planning and control process is often defined as
The process of defining the action steps, priorities and schedules by which the marketing
strategy will be implemented and making sure that the company is achieving the objectives
that are stated in the marketing plan within the determined budget.
The following steps and activities can be distinguished:-
Figure: The Sales Marketing Planning and Control process
The assumption is made that the output of this process, called the marketing plan by
marketing people, covers a time period of one year. The input of the annual marketing plan is
the strategic marketing plan, which is the output of the preceding process. When it concerns
an international company, it means that the marketing planning and control process will be
5. done on Product Group-level. As consequence of this, a more standardized Pan European or
worldwide marketing plan becomes feasible, leading to many advantages in efficiency and
effectiveness.
The steps shown in the figure above will be explained below:
Research of marketing mix and control
Like the strategic marketing planning process, this process also begins with research and
analysis of the marketing and consumer environment. Besides, research for the marketing
mix is necessary, which is focused on sensitivity analysis to various elements of the
marketing mix, analysis for reseller satisfaction, market response, goal achievement, etc.
Financial forecasting
Before the annual objective can be determined, the financial situation has to be forecasted.
On the revenue side it shows forecasted sales volume and average realized price, on the
expense side it shows the forecasted cost of production, physical distribution and marketing.
The difference is the expected profit.
Objectives setting
The annual objectives can be stated for the one year strategy (for example, increase market
share by x% or improve brand awareness by y% in that year) as well as for specific
statements concerning marketing activities. An example of a specific statement is: decrease
cost of sales force as a percentage of sales, improve advertising awareness or improving
company image. These statements have to be quantified and a time horizon has to be set.
Marketing strategy and action program
When the objectives have been set, the marketing managers have to refine the strategic
marketing plan to the annual marketing plan. Specific marketing tactics have to be developed
besides the action programs. The action programs contain the marching orders in response to
the question "How will we get there?", and the actual steps by which strategies will be
implemented to reach the established objectives.
Control
The last step of the marketing planning and control process is control, which forms a distinct
process itself. The control of the annual marketing plan will be handled by the management
of the PMC.
To implement the marketing strategy, marketing management has to decide what level of
marketing expenditures is necessary to achieve the marketing objectives. The total budget has
to be allocated among the several marketing activities and tools in the marketing mix during
the implementation of activities; the company has to review the process of marketing and
sales activities regularly throughout the year. These reviews provide an opportunity to listen
to weak signals and to redirect any parts of the planned action program that are off target