Develop and document, on behalf of an organisation for which you do or might work, a detailed process whereby it will be possible to investigate, identify, assess, and include the needs of customers in planning processes. Activity 1.docx How can quality, time and cost requirements be balanced? It's all about the expectations of the customer and what they intend on using it for. If they pay a premium price for a product then they expect it to be of premium quality and a quick turnaround. If the product is of low value, then the quality expectation isn't so great.
The communication between the product managers and the buying center is important. Question 2: What selection criteria does Trek utilize when it selects a new supplier or evaluates an existing supplier? When potential suppliers are identified, they are evaluated on four criteria, quality, delivery, capability, price, and environmental impact of their production process. This allows Trek to compare alternative suppliers and to select the best match for Trek and its customers. Once a business is selected as a Trek supplier, it is continuously evaluated on elements of the four criteria.
Balanced Scorecard Organizations and upper-management often use a Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) analysis model to concentrate on the company’s competitive advantages, their possibilities, evaluate how to improve susceptibilities, and avoid coercion. Organizations depend on SWOTT analysis to remain successful in their industries. For a business to be successful and sustain their performance, the entity is obligated by their external environment to generate strategic objectives and constantly evaluate its vision and mission. Organizations must reflect on their mission and vision frequently to assess each for validity, consistency, and making sure the objectives are components useful to the desired vision. Businesses require a tool to measure the execution of objectives.
These buyers have a common need or want and can be satisfied through exchange relationships. 1.2. 2. Designing a Customer Driven Marketing Strategy: Two important questions must be answered for a winning marketing strategy: What customers will be served? (target market), How can these customers be served best?
Verizon: External/Internal Factors MGT/330 January 28, 2012 Verizon: External/Internal Factors The four functions of management continue to guide Verizon through internal and external factors successfully. Of course, management needs to work creatively in problem solving and execute all the four functions in order to attain the objectives and goals in a way that the cost of accomplishment is viable for the company. Some of the internal and external factors that Verizon must effectively and efficiently guide themselves through are globalization, technology, innovation, diversity, and ethics. Verizon will need to continually adjust how they use the four functions of management to handle the strategic, tactical and operational decisions for the organization, and a crucial tool that Verizon uses to do so is delegation. How Internal and External Factors Affect the Four Functions of Management Like many others successful organizations, Verizon still stands on the four functions of management (planning, organizing, leading, and controlling) to guide them into the future.
When analysing the performance of the business they are able to make changes this gives the business more flexibility. Once the marking department have set their goals the next step for the team is to see how they will achieve it. The marketing strategy that business uses it that they will state how objectives will be delivered, this means that the marketing actions and resources needed will be explained to the team. They will also explain the roles of every individuals and how they will work as a team. The promotion team uses the 4P’s, .
What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Explain why or why not. Customizing options are extremely important to existing and potential consumers. For Thorr’s optimal marketing, they would also include lifestyle image, service offerings, quality engineering, and price.
My leadership plan for Mai is that she assists in the market research, development, and implementation of strategy Leroy Washington – My personality assessment score is ISTP. The relationship theory would also apply to me because I am interested in the performance of the group and I have high ethical and moral standards. Since this project calls for to be the manager appointed leader of this project, my leadership plan for me is to participate in the research, marketing,, development, and implementation of strategies for the new department to not only reach its target market but to also be successful in its desired market for as long as
Marketing also can be defined as an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (Kolton & Keller, 2009). According to Business Dictionary (2010), marketing is “the management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy” (Marketing, para. 1). The need for marketing was created by the need to exchange items with others in
Industry structure is categorized on market structure variables, which are believed to determine the extent and characteristics of competition. Those variables, which have received the most attention, are number of buyers and sellers, extent of product substitutability, costs, ease of entry and exit, and the extent of mutual interdependence [Baumol, 1982; Colton, 1993]. In the traditional framework, these structural variables are distilled into the following taxonomy of market structures: These four market structures each represent an