1. 550 words not including title and reference page
2. No more than 25% of the assignment can be cited.
3. At least 3-4 sources should be used – websites, books, internet and/or sources I provide.
4. My school uses software to detect originality.
5. Please answer all questions.
6. Please follow the course scenario and assignment instructions.
7. The margins should be one inch all around (remember that MS Word defaults to 1.25”, so you will need to manually change the margins).
8. I’ve added some links at the bottom of this document as well as attached files to the assignment that will help preparing this assignment easier. Please use some of the information provided.
Websites that could help in research:
1. http://erc.msh.org/quality/ittools/itswot.cfm
2. http://mystrategicplan.com/resources/internal-and-external-analysis/
3. http://www.brs-inc.com/porter.asp
4. http://www.mindtools.com/pages/article/newTMC_09.htm
5. http://www.quickmba.com/strategy/pest/
6. http://www.mindtools.com/pages/article/newTMC_08.htm
Assignment:
As you close your weekly meeting with Deborah, she says, “There are some very good ideas here. I would like to see you continue with a global marketing plan. We need more concrete analysis and data for the presentation. Get your team to work.”
After your meeting with Deborah, you briefly meet with your team to discuss moving towards a more formal analysis.
“Tiffany and Mike, we need to provide a more detailed analysis,” you explain. “You’ve done a great job so far looking at what resources we need and potential countries, but we need to really dig deeper on this.”
Tiffany nods her head in agreement. “Definitely,” she says. “We need to look at some internal variables as well as political, environmental, sociocultural, and technological environments of the countries that we are considering.”
Mike interjects, “Well, that’s something we should consider, but it’s not the only way to analyze this type of project. This is such a big decision and we need to give as much information as we can.”
You reply, “Great point, Mike. We should look at this from a couple of different angles.”
The next step in your strategic marketing plan is to determine the tools that are needed to conduct an analysis of the industry and competitors.
Complete the following:
• What are the best tools to use in this situation?
o Provide a brief summary of at least 2 tools.
• Why do you think these are best ways to analyze the market?
• How will you use these tools in your plan?
Course Scenario:
Company Biography
In January of 2002, John Ferrer and his wife Deborah started their own corporation, a large custom furniture manufacturer located in Boston, MA. Their initial accounts were in the Northeastern region of the United States and annually observed a constant profit increase. By March of 2006, they were able to grow the company enough to go from 5 distribution and manufacturing plants to 10 to allow shipping to 48 states. Although they have two retail stores, one located in Phoenix and one in Boston, their primary source of revenue is online catalog sales. They have 10 manufacturing plants and distribution centers throughout the country.
John and Deborah’s corporation is known throughout the industry for its exceptional customer service and superior quality. The contemporary designs lend themselves to a younger market, and the customer base is predominantly upper-middle class because it is one of the highest-priced furniture companies in the market. Part of the appeal of John and Deborah’s brand is their consistent involvement with the local communities to create green gardens. They have also been a major contributor to organizations that build houses for people in need.
One of their primary strengths is their vertical integration. They have a team of in-house designers saving the company design costs and allowing the flexibility to rapidly change designs as the market changes. Their products have been featured on several prominent home design and gardening shows and endorsed by several well-known designers.
Because the recent housing market sales decline (8% from 2005–2006), home renovations have slowed significantly. This has impacted the amount of furniture and fixture sales and continues to impact revenue. Furniture sales in the U.S. have decreased significantly, and John and Deborah have recently been discussing the possibility of global expansion.
Another potential threat to their company is that many higher-end brands have been marketing aggressively and creating lines for popular retail stores. These allow the lower-income consumers to have access to high-end brands at a much lower price point. So far, these lines have been incredibly successful and have significantly increased profits for competitors. Many of these competitors have also had great success in the global marketplace with these lower cost replicas.
John and Deborah know that it is time to seriously consider expanding their business. They want to be able to make it through the economic crisis and rely on other ways to increase sales and business. They are open to looking into the global market, but they want to be sure that it is the right move for the business. They have requested an advisory board meeting next month in which you will present the global marketing strategy. As the market strategist, you will play a key role in helping the board decide if this is the right move for the company.
The Problem
You are sitting in Deborah Ferrer’s office. After the customary small talk, Deborah sits forward and states, “I am very impressed with the work that you have done as the strategic marketing manager. Since John and I started this company in Boston, we have seen continuous growth, but nothing like what we have seen since you started. However, the housing market is really starting to impact our profits. This last quarter’s numbers were not looking good.”
You reply, “The crisis has really hit us hard. We have some stiff competition, too, with the other brands creating retail knock-offs.”
She counters, “We’ve had great success with your strategies in the domestic markets, but we do need to think of a new approach and strategy. I have complete faith in your abilities to take this company exactly where it needs to go. I must say that we are really counting on you, and I know that you will follow through.”
“I will make sure that we do well. Do you have any new projects for me?” you ask.
Deborah smiles and says, “You know me well. I do have a new project for you. I sent you an e-mail just before our meeting. I’m curious if expanding in a global market would be a good move for our company. I would like you to look into this for me.”
Our Service Charter
-
Excellent Quality / 100% Plagiarism-Free
We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers. -
Free Revisions
We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed. -
Confidentiality / 100% No Disclosure
We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service. -
Money Back Guarantee
If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit. -
24/7 Customer Support
We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.