JRM1 Task2

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Brigham Young University, Hawaii *

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499

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Marketing

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Feb 20, 2024

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docx

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Executive Summary: Vision, Mission, and Values: SG Roofing (SGR) is a reputable roofing company with a vision to provide top-quality services to the community. Our mission is to deliver exceptional roofing services, owned and operated by Brett Smith and his family in Erie, CO. SGR values safety, professional construction crews, and building community connections and trust as a local, family-owned business. These statements guide our purpose and principles. Execution of the Strategy: Our strategy is focused on leveraging our strengths, addressing weaknesses, capitalizing on opportunities, and mitigating threats identified in our SWOT analysis. We aim to expand our service area, diversify our offerings, enhance our online presence, and ensure compliance with regulations. Financial Evaluation: We anticipate executing this strategy will increase revenue through service diversification and expanded market reach. Initial investments in marketing and infrastructure will be balanced by long-term profitability. ROI and cost-benefit analysis will be used to assess the financial impact of our strategy. Conclusion: By aligning our strategy with our vision, mission, and values, we intend to position SGR for long- term success. We are committed to delivering exceptional roofing services, building community trust, and adapting to the evolving roofing industry landscape. Vision, Mission, and Values (A2): The vision, mission, and values statements are foundational to our business strategy: Vision: Our vision at SG Roofing (SGR) is to be recognized as the premier roofing company in our community. We envision a future where our commitment to quality, safety, and customer trust sets us apart as the go-to roofing service provider in Erie, CO. Mission: Our mission is clear - to deliver exceptional roofing services. We exist to protect and enhance the homes and businesses of our community members. We are committed to providing top-notch roofing solutions focusing on quality, safety, and professionalism. Values: SGR's values are deeply ingrained in our company culture. We value safety above all else, ensuring our employees and clients remain secure throughout every project. We take pride in being a local, family-owned business, emphasizing community connections and trust. Our commitment to ethical business practices and professionalism guides every decision we make. Justification of Analytical Tools (A3):

SWOT Analysis: SWOT analysis provides a comprehensive understanding of our internal strengths and weaknesses, as well as external opportunities and threats. This tool was invaluable in identifying areas where we can leverage our strengths, address our weaknesses, capitalize on market opportunities, and mitigate potential risks. PESTEL Analysis: Although not explicitly mentioned in the report, we may consider using PESTEL analysis to evaluate the broader macro-environmental factors that could impact our business, including political, economic, social, technological, environmental, and legal aspects. This analysis can help us anticipate and adapt to external changes effectively. SWOT Analysis (A4): SWOT Analysis for SG Roofing: Strengths: Local and Family-Owned: Being a family-owned business can create a sense of trust and community connection. Owner's Expertise: Brett Smith's experience in construction, roofing, and insurance claims is valuable. Safety Focus: Prioritizing safety demonstrates responsibility and professionalism. Insurance Claims Specialists: Expertise in handling claims can lead to smoother and more efficient processes. Weaknesses: Limited Geographic Reach: Being located in Erie, CO, may limit the company's market reach. Limited Brand Recognition: As a local company, it might need help to compete with larger, more established roofing companies. Dependence on Brett Smith: Overreliance on the owner's expertise could pose a risk if he becomes unavailable. Opportunities: Community Growth: As the community grows, there will be increased demand for roofing services. Quality Improvement: The focus on increasing the quality of work aligns with market expectations. Diversification of Services: Expanding into services like siding or gutter installation could increase revenue streams. Digital Marketing: Enhancing the company's online presence can attract a broader customer base. Threats:

Competition: Facing competition from established roofing companies and local competitors. Economic Downturn: Economic instability can impact the construction and roofing industry. Weather-Dependent: Weather conditions can affect project timelines and profitability. Regulatory Changes: Changes in local or state regulations may require adjustments in operations or compliance. Competitive Advantage (A5): Maintaining a competitive advantage is essential for our long-term success: Quality Focus: We will consistently deliver top-quality roofing services to exceed customer expectations. Quality workmanship, durable materials, and attention to detail will set us apart. Service Diversification: To expand our competitive edge, we will diversify into siding or gutter installation services. This increases revenue streams and provides a one-stop solution for customers. Digital Marketing: A robust online presence is crucial in today's digital age. We will invest in digital marketing strategies, including a user-friendly website, search engine optimization (SEO), and active social media engagement to increase our visibility and reach a broader customer base. Exceptional Customer Service: Our commitment to outstanding customer service will create positive word-of-mouth, leading to repeat business and referrals. Safety Measures: Our strong safety culture and expertise in handling insurance claims efficiently will instill confidence in customers and insurers. International Markets (A6): Initially, we will focus on strengthening our local presence. However, as opportunities arise, we will consider international expansion, considering market research, regulations, and cultural considerations. Diversification Strategy (A7): Diversifying our service offerings is a strategic move: Related Services: We should consider expanding into related areas, such as siding or gutter installation. These services complement roofing and provide additional revenue streams. Cross-Selling: Offering bundled services can enhance our value proposition to customers. For example, when we install a new roof, we can offer siding or gutter services at a discounted rate. Training and Expertise: To diversify effectively, we may need to train our workforce in new skills and ensure we have the necessary expertise. Ethical Considerations (A8): One ethical consideration is fair pricing. We are committed to transparent and fair pricing practices. We will provide detailed estimates to customers, avoiding hidden fees or upselling unnecessary services. We aim to build trust and long-term client relationships through ethical pricing. Execution of Strategy (A9):

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Execution is critical to success: Clear Communication: Our leadership team will ensure the strategy is communicated clearly to all employees. Each team member will understand their role in executing the plan. Task Delegation: Responsibilities and tasks will be delegated effectively, with clear accountability for each aspect of the strategy. Performance Evaluation: We will establish key performance indicators (KPIs) and milestones to track progress. Regular performance evaluations will help us adapt and make necessary adjustments. ROI and Cost-Benefit Analysis (A10): ROI: We will measure the ROI of our marketing investments, such as website development and digital advertising. If the ROI falls below expectations, we will evaluate and adjust our marketing strategy accordingly. Cost-Benefit Analysis: Before implementing significant initiatives, we will conduct cost-benefit analyses to assess whether the benefits outweigh the costs. This will ensure that our investments are financially sound and align with our strategic objectives. Conclusion (A11): In conclusion, SG Roofing's business strategy is designed to position us as the premier roofing company in Erie, CO, and beyond. With a focus on quality, safety, community trust, and ethical practices, we are confident in our ability to deliver exceptional roofing services. Our strategy includes diversification, a solid online presence, and a commitment to customer satisfaction. Through precise execution and continuous evaluation, we aim to achieve our vision and mission, building a thriving and reputable business for years to come.

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