Week 2 Strategic Plan Research
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Week 2 Strategic Plan Research
A sample strategic plan in retailing was my go-to for this assignment. The retail strategic plan I found clearly states and go over where the organization
is going and how it will get there. The first steps it mentioned where the MFP (merchandising financial planning which is the mapping of the financial goal of the inventory, sales planning, and inventory planning. The next step is evaluating the market then it mentions its Swot analysis, its customers behaviors and the set objectives that will need to be measured that’s why addressing the KPI’s are vital in planning. Yes, the sample plan evaluated the internal and external because this is what
is done in a SWOT analysis so yes its does brings this into the planning which
we would consider a situational analysis that focuses on strengths, weaknesses, opportunities, and threats of an organization. For example, a firm’s internal environment consists of financial resources, technological resources, and its capabilities of personnel and their performance.
This brings us to the inclusion of a people plan and addresses the achievement of diverse workforce which has a bit to do with the internal environment. This is where the organization needs to outline how the organization will manage, develop, and utilize its human resources. The planning will need to always include corporate responsibility and environment sustainability because when running a business, the business and its employees, its suppliers etc. needs to have integrity and have positive ethical behavior. If this is not incorporated it can cause a problem within a business and may have a negative impact on the organization. If an organization doesn’t practice this, it may lose its target market or its consumers. If a company adopts key social responsibility principles like taking accountability and being transparent, an organization can help tackle long term viability, and success within the business systems. If this can be incorporated in the planning, it maximizes not only the shareholders’ value. But the business can operate in a way that will not only benefit its society but itself as well. Reference
Retail Planning: Insights + Strategic Retail Planning Guide (shipbob.com)
What Do We Mean By Strategy? (mheducation.com)
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Related Questions
1. Answer the following.
Provide the monthly sales plan of shopee (please use gantt chart or a suitable graphical representation for data visualization)
Use this in creating the sales plan:
January: New Year promotions, kick-off sales meetings.
February: Valentine's Day promotions, lead nurturing activities.
March: End of Q1 push, performance review, and strategy adjustment.
April: Spring sales campaign, customer feedback collection.
May: Mid-year training, product refresh.
June: Mid-year performance review, prepare for summer promotions.
July: Summer sales push, lead generation activities.
August: Back-to-school promotions, focus on upselling.
September: End of Q3 push, prepare for Q4 strategy.
October: Fall sales campaign, early holiday promotions.
November: Black Friday and Cyber Monday sales.
December: Holiday sales, year-end clearance, customer appreciation events.
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Table: Factors causing the decline in salesFactors % ContributionDelayed deliveries 15%Lack of delivery personnel 8%Inaccurate sales orders 25%Wrong deliveries 32%Delayed invoicing 6%Pilferage 7%Expired items 7%
a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem.Hint: know the vital few %
b. What are the vital factors or vital contributors to the problem?
c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem?
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CLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies.
CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories.
CLO #4 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions.
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Table: Factors causing the decline in sales
Factors
% Contribution
Delayed deliveries
15%
Lack of delivery personnel
8%
Inaccurate sales orders
25%
Wrong deliveries
32%
Delayed invoicing
6%
Pilferage
7%
Expired items
7%
a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem.
Hint: know the vital few %
b. What are the vital factors or vital contributors to the problem?
c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem?
Hint: Use SMART GOAL
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Task 10The subject of MarketingMark the statement or statements below that are correct:
According to Baines et al __________
Select one or more options:
Is pricing of the organization's products primarily a task for other functions at the company than the one that works with marketing, such as. the company's finance function
Is marketing synonymous with sales
If the development of new products is something that marketers should not get involved in, it is a task that other functions at the company do better
Is communication and advertising marketers most important task
Marketing is about creating value for customers, society and stakeholders
Should one sometimes try to deceive the consumer
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Please answer this Simple question
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You are the new marketing manager for The Westside Coffee Company. You have been tasked with developing a strategic marketing and communications plan to improve store performance. Over the next few weeks, you will develop different elements of your marketing and communications plan. Consumer/Marketplace Insights and Micro-Moments Resource: Read the articles from the University Library. Perform a price/quality segmentation analysis using the resources provided in the University Library. You will need toYou are the new marketing manager for The Westside Coffee Company. You have been tasked with developing a strategic marketing and communications plan to improve store performance. Over the next few weeks, you will develop different elements of your marketing and communications plan.
Consumer/Marketplace Insights and Micro-Moments
Resource: Read the articles from the University Library.
Perform a price/quality segmentation analysis using the resources provided in the University…
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iness
MarketingQ&A LibraryWhat are the significant findings/ key matters of Southwest Airlines
What are the significant findings/ key matters of Southwest Airlines
close
Get live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward
Question
Rollin King and Herb Kelleher started Southwest Airlines in 1971 with this idea: if they could take airline passengers where they want to go, on time, at the lowest possible price, and have a good time while doing it, people would love to fly their airline. The result? No other airline in the industry's history has enjoyed the customer loyalty and extended profitability for which Southwest is now famous. The company now flies more than 3,400 times each day to over 64 destinations across the United States
There's more to the story, however, than making promises and hoping to fulfill them. A large part of Southwest Airlines' success lies in its ability to plan long-term capacity to better match demand,…
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Both the bottom-up and the top-down approaches can be used to forecast sales. When might you prefer the bottom-up approach? When might you prefer the top-down approach?
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hi so i have this pie chart and promotion strategy for my marketing subject i have to explain the theory, then explain what strategy have been used, this is what is needed from my Assignment guid the following:
Using one (1) of the remaining four elements, three (3) marketing mix elements, please provide:
brief analysis of the company’s current strategy for their current market
their current pricing strategy (if you choose pricing)
their current distribution strategy (if you choose placement)
recommendations for the company of what new marketing mix strategy that would best serve the new target market and be in harmony with the new positioning strategy developed in A1/2. What should they change in their efforts, so they can attract the new target market? Shall they introduce a new strategy? How and why? Your recommendation should be detailed and actionable.
hope you can help me im really confused
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1. What is marketing 2. Discuss the marketing process3. What is a financial services 4. List four examples of financial service5. What is a service
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CLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies.
CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories.
CLO #3 - Evaluate the quality of proposed solutions to marketing management problems against appropriate criteria, including organizational constraints.
CLO #4 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions.
CLO #6 - Evaluate the ethical implications and aspects of social responsibility of certain marketing campaigns and strategies.
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3. How are you going to use ESC grid to develop marketing strategies? Illustrate if needed. Explain
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Submit 2 slide PowerPoint Presentation
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Your Task
Evaluate how Wanda is currently applying each of the four Ps of marketing to the products Salty Pawz sells. Capture this in your written document so that
Wanda can refer back to it as she begins to draft a marketing plan.
• Once you have evaluated how Wanda is currently applying the four Ps to the products Salty Pawz sells, identify at least one new way that each of the four
Ps could be improved. When making your recommendations, be as specific as possible so that she can execute some of your ideas immediately.
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Example of marketing plan.
Executive summary:
Present market situation:
SWOT Analysis:
Marketing Objectives
Marketing Strategies:
Marketing Programs in the marketing mix:
Budget:
Controls:
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Which one of the following is an example of lead
measure?
Select one:
a. Increased advertisement expenditure
b. employee satisfaction
c. Increased profit
d. Customer satisfaction
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Make a narrative statement for the outline of the Strategic Marketing Plan.
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All tools were properly prepared.
Of the 3 matrices, only the EFE is correct.
Of the 3 matrices, only the IFE is not correct.
The CPM is accurate while the IFE and EFE matrices are inaccurate.
Of the 3 matrices, only the IFE is correct.
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Answer with reference
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Conduct a marketing operational analysis for Bosch Car Service, identify the gaps, and develop a revised Marketing strategy.
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ACTIVITY # 4
Module 3
Lesson 2: Marketing Research
Answer the following:
1. Get at least ten Sari2x Stores as your respondents and ask the price of a % kilo of
sugar. Do a tally of the results. What do your initial findings show?
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Explain in 1-2 paragraphs
2. Explain the factors to be considered in order tl
successfully market MICE
3. Why is it important for a sponsoring organization
to determine the break-even attendance figures?
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Related Questions
- 1. Answer the following. Provide the monthly sales plan of shopee (please use gantt chart or a suitable graphical representation for data visualization) Use this in creating the sales plan: January: New Year promotions, kick-off sales meetings. February: Valentine's Day promotions, lead nurturing activities. March: End of Q1 push, performance review, and strategy adjustment. April: Spring sales campaign, customer feedback collection. May: Mid-year training, product refresh. June: Mid-year performance review, prepare for summer promotions. July: Summer sales push, lead generation activities. August: Back-to-school promotions, focus on upselling. September: End of Q3 push, prepare for Q4 strategy. October: Fall sales campaign, early holiday promotions. November: Black Friday and Cyber Monday sales. December: Holiday sales, year-end clearance, customer appreciation events.arrow_forwardTable: Factors causing the decline in salesFactors % ContributionDelayed deliveries 15%Lack of delivery personnel 8%Inaccurate sales orders 25%Wrong deliveries 32%Delayed invoicing 6%Pilferage 7%Expired items 7% a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem.Hint: know the vital few % b. What are the vital factors or vital contributors to the problem? c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem?arrow_forwardCLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies. CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories. CLO #4 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions.arrow_forward
- Table: Factors causing the decline in sales Factors % Contribution Delayed deliveries 15% Lack of delivery personnel 8% Inaccurate sales orders 25% Wrong deliveries 32% Delayed invoicing 6% Pilferage 7% Expired items 7% a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem. Hint: know the vital few % b. What are the vital factors or vital contributors to the problem? c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem? Hint: Use SMART GOALarrow_forwardTask 10The subject of MarketingMark the statement or statements below that are correct: According to Baines et al __________ Select one or more options: Is pricing of the organization's products primarily a task for other functions at the company than the one that works with marketing, such as. the company's finance function Is marketing synonymous with sales If the development of new products is something that marketers should not get involved in, it is a task that other functions at the company do better Is communication and advertising marketers most important task Marketing is about creating value for customers, society and stakeholders Should one sometimes try to deceive the consumerarrow_forwardPlease answer this Simple questionarrow_forward
- You are the new marketing manager for The Westside Coffee Company. You have been tasked with developing a strategic marketing and communications plan to improve store performance. Over the next few weeks, you will develop different elements of your marketing and communications plan. Consumer/Marketplace Insights and Micro-Moments Resource: Read the articles from the University Library. Perform a price/quality segmentation analysis using the resources provided in the University Library. You will need toYou are the new marketing manager for The Westside Coffee Company. You have been tasked with developing a strategic marketing and communications plan to improve store performance. Over the next few weeks, you will develop different elements of your marketing and communications plan. Consumer/Marketplace Insights and Micro-Moments Resource: Read the articles from the University Library. Perform a price/quality segmentation analysis using the resources provided in the University…arrow_forwardManagement must be clear about their objectives in order to establish greater customer relationships.Create a list of four (4) CRM objectives that are common to all of them.arrow_forwardThis week we will look at the efforts of the GoodBelly Marketing teamIN EXCEL1. Provide me with a Count for each of the marketing engagements (Overall Totals and by State/Region).2. Provide 3 different types of graphs (Bar/Stack bar/Pie etc.) comparing the usage in each Tab.IN POWERPOINTProvide answer to the following question using 1. What is the total revenue per marketing task?2. What is the average revenue (units sold and price) per marketing Task? 3. What regions show the best data for making a decision?arrow_forward
- iness MarketingQ&A LibraryWhat are the significant findings/ key matters of Southwest Airlines What are the significant findings/ key matters of Southwest Airlines close Get live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward Question Rollin King and Herb Kelleher started Southwest Airlines in 1971 with this idea: if they could take airline passengers where they want to go, on time, at the lowest possible price, and have a good time while doing it, people would love to fly their airline. The result? No other airline in the industry's history has enjoyed the customer loyalty and extended profitability for which Southwest is now famous. The company now flies more than 3,400 times each day to over 64 destinations across the United States There's more to the story, however, than making promises and hoping to fulfill them. A large part of Southwest Airlines' success lies in its ability to plan long-term capacity to better match demand,…arrow_forwardBoth the bottom-up and the top-down approaches can be used to forecast sales. When might you prefer the bottom-up approach? When might you prefer the top-down approach?arrow_forwardhi so i have this pie chart and promotion strategy for my marketing subject i have to explain the theory, then explain what strategy have been used, this is what is needed from my Assignment guid the following: Using one (1) of the remaining four elements, three (3) marketing mix elements, please provide: brief analysis of the company’s current strategy for their current market their current pricing strategy (if you choose pricing) their current distribution strategy (if you choose placement) recommendations for the company of what new marketing mix strategy that would best serve the new target market and be in harmony with the new positioning strategy developed in A1/2. What should they change in their efforts, so they can attract the new target market? Shall they introduce a new strategy? How and why? Your recommendation should be detailed and actionable. hope you can help me im really confusedarrow_forward
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Business
ISBN:9781337407137
Author:Kelly
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ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
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