Str 581 Business Plan

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Strategic Plan Update II Team A: Angela Cesario, Joseph Faluyi, Frederick Fiddler, Basil Muhammad STR/TM 581: Strategic Planning and Implementation in a Tech Environment Liza Gorham University of Phoenix January 14, 2013 Introduction A few different options exist when considering the Business Technology Management (BTM) perspective. These options include the market development strategy, product development strategy, and innovation strategy. Each option needs to be evaluated to reach the conclusion on which strategy would best fit Kudler Fine Foods and their strategic plan. Evaluation of Market Development Strategy Market development focuses on finding…show more content…
In today’s business, it is more important than ever before for company to maintain customer’s loyalty due to the aggressive nature of the competition in the industry in general. Most companies invest heavily in research and development to combat this aggression and they are able to offer innovative product and services that differentiate them in the marketplace. Kudler Fine Food leverages BTM framework, to enable it to create a bridge between its business and technology. Kudler Fine Food’s business innovation includes the application of appropriate technologies to communicate it offering to its existing and potential customers. The technology innovation also enables Kudler Fine Foods to advertise its product line to the public so that they can know its products and services without necessarily visiting any of its store locations. Kudler’s business innovation strategy aligns with its technology initiative, and allows it to better execute it business, manage and better control its risks as well as increase its sales and profitability. Most companies today understand that repeatable business process is one of the key…show more content…
The innovation strategy best aligns with Kudler’s vision in creating a competitive advantage over other gourmet food stores. From a BTM perspective the chosen strategy will allow the company to expand its catering business, introduce marketing tactics, open new locations, reduce inventory turnover, and create customer

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