Running head: FINAL STRATEGIC PLAN – THE HOME DEPOT Final Strategic Plan – The Home Depot University of Phoenix MBA 580 Charles Hooley June 1, 2009 Final Strategic Plan – The Home Depot Executive Summary Companies in today’s market need to think more than “product, placement, and promotion.” With the stressors, both internal and external on the company, they must think critically to ensure continuing operations. Many businesses explicitly and all implicitly adopt one or more generic strategies characterizing their competitive orientation in the marketplace. Low cost, differentiation, or focus strategies define the three fundamental options… Enlightened managers seek to create ways their firm possesses both low cost and differentiation competitive advantages as part of their overall generic strategy. They usually combine these capabilities with a comprehensive, general plan of major actions through which their firm intends to achieve its long-term objectives in a dynamic environment. Called the grand strategy, this statement of means indicates how the objectives are to be achieved… (Pearce and Robinson, 2004, p. 14).
SWOTT Analysis For Scents & Things to perform a SWOTT Analysis, the company has to answer the following questions about the company’s strengths; the advantages, resources, strengths in the market, and what does the organization do better than the competition. When the organization reviews its strengths this should be done from an internal and external perspective, assessing the customer’s views and incorporating the competitions. Once the strengths are found for the
Running head: SWOT SWOT Daniel Goodman Cardinal Stritch University Instructor: Walter Wochos MGT 426: Marketing March, 14 2012 One of the components of strategic marketing planning requires the creation of a series of strategic alternatives, or choices of future strategies to pursue, given the company's internal strengths and weaknesses and its external opportunities and threats. The comparison of strengths, weaknesses, opportunities, and threats is normally referred to as a SWOT analysis. Strength: Strength is an inherent capability of the organization which it can use to gain strategic advantage over its competitors. Weakness: A weakness is an inherent limitation or constraint of the organization which creates strategic disadvantage to it. Opportunity: An opportunity is a favorable condition in the organizations environment which enables it to strengthen its position.
c) Each of the candidates has some strengths and weaknesses they would bring to the job. What do you consider the major weaknesses of each candidate? Why? MKTG 420 Week 1 DQ 2 Sales Organization Refer to the Developing Your Competencies heading starting
c) Each of the candidates has some strengths and weaknesses they would bring to the job. What do you consider the major weaknesses of each candidate? Why? MKTG 420 Week 1 DQ 2 Sales Organization Refer to the Developing Your Competencies
• Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness. Week Two: Marketing Research • Justify the importance of marketing research in the development of marketing strategy and tactics. • Analyze the importance of competitive intelligence and analysis in marketing. • Identify various segmentation criteria that impact target market selection. • Describe the various types of organizational buyers and consumers and the factors that influence their purchasing decisions.
TLIP4001A ASSESSMENT ACTIVITY 1: How can examining future opportunities and directions help towards the contribution of a shared vision and values for the workplace, and the shaping of business goals and objectives? A customer service delivery plan is a strategic and tactical plan for achieving marketing objectives. It is a detailed document that determines how new business will be acquired and how the existing customer base will be maintained and strengthened. Customer service delivery plans are not just about targets and how to achieve/exceed these targets. ASSESSMENT ACTIVITY 2: Why is it necessary, as part of the planning process for customer service teams, to review previous performance and successful approaches and to identify factors affecting performance?
The company will have to forge alliances with partners to participate in the loyalty program which will affect the sales department as well as upper management. Operational The loyalty program should be functional during the times that the company is open for business. It should passively collect customer data as customers swipe their loyalty cards during transactions. The system should make reports available to management so that they can focus on reducing the cost of orders and stock-outs while increasing customer purchase behavior with targeted offerings.
A competitive marketing intelligence analysis is necessary because much can be learned from the competition’s successes and failures. This type of analysis is not, however, limited to the just the competition. The text, Marketing, defines competitive marketing analysis as the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment (Kerin, Hartley, & Rudelius, 2011). When collecting data and in order to make reasonable decisions, it is important to predetermine many
In review one has defined his or her personal definition of marketing and two other definitions the companies would use to market their products and services. One discussed how businesses could apply the definitions in their marketing mix. One identified three companies successful using the methods described. Marketing is important for a business to be successful in marketing products and