You will find many different challenges that will come up as the business develops. One such challenge for a business is finding the right product to market. Discovering your perfect product entails much detail; like knowing how the product will be produced and who will be producing it. These details touch on the aspects of resources, production, distribution, and creating a sustainable supply of products to market. Another challenge that arises is discovering, ‘who you will be marketing to?’, or your demographics.
The method that Tanglewood currently uses to hire managers is similar to the method that is used to hire store associates. I feel that a change is required when it comes to the selection plan if Tanglewood expects to hire the best employees out there. The department manager position requires that the potential employees take on a greater responsibility, and perform their work more intelligently. So in order to accomplish that, and hire employees that will perform those types of duties, Tanglewood must tailor our selection methods to match the specific KSAO’s that are required for the position. The more closely we measure the applicants KSAO’s to match to what is required for the position at hand the better results we would produce.
The expansion of the company will require additional market research in interested regions. By evaluating the market conditions, it provides the necessary opportunities that will be most beneficial in planning out a marketing strategy. Perhaps the best venue to gather data is from customers directly. Kudler’s implementation of a survey in their website is the perfect way for the company to collect valuable data. The nine questions in the survey will direct how the marketing strategy will pan out.
Week 1 Case Assignment-Tanglewood Stores Tanglewood sees their employees as assets to the company’s financial success. They believe that a good core workforce is essential so they do not want cheap labor, high turnover, or temporary workers. In this day and age, this type of philosophy is key in a company’s growth and success. As Tanglewood is in the process of aggressively expanding from its 243 stores, staffing issues will require a lot of fore thought before deciding on the most effective way to proceed. First step of recommendations to properly start staffing for the expansion is: Staffing Levels Acquire or Develop Talent.
Also to assess the practicability of making changes to current procedures so that marketing opportunities can be taken advantage of. This evaluation is critical for the business as it will assess the potential new market roads the business can take. Situation Analysis Marketing
Even though good advertising bring customers, location plays an important role. A business that a potential customer can notice will always raise suspense for a customer. Providing a product that is in demand becomes another challenge when starting a new business, be mindful of your product and the real cost associated with delivering the product and the service to customers. Repeated customers will remain with you as long as your credibility shows potential performance. You must have a clear strategy for identifying and looking after key customers along with developing business relationships with them.
That is why there are certain challenges that need to be looked at when starting a business. One of the first to consider is having a good business idea. To have a good business idea people should be very creative and try to get an understanding for what the consumer wants or needs. Once a person has a plan or idea in motion this could be the deciding factor on whether a business makes it, or goes under. Another challenge to look at would be the financial risk involved.
Training Plan Introduction The current training plan will merge the current sales force teams from EnviroTech and from InterClean as soon as feasibly possible, as this will require a significant need to create and administer an in-depth, detailed training program. As defined by the text, Cascio (2006, p. 286) explained training to be “planned programs designed to improve performance at the individual, group, and/or organizational levels”. Nevertheless, there is the need to provide a full service, solutions based training plan that is efficient while also effective to the customer. A new training and mentoring program will be introduced and will be tailored to the needs of the combined sales team along with the specific needs of the company. As stated by Clay, T. (2009), a law firm had introduced a new training and mentoring program to improve the revenues produced by individual lawyers.
To be profitable, consumers have to be aware of new products and purchase the items; this is how companies increase revenue. Being able to effectively manage the four Ps of the marketing mix are crucial to the success of the new product or service being marketed. The four Ps consist of product or service, place, price, and promotion (Kotler, & Keller, 2013). By using the four Ps marketing mix, it assist in how your company decides to market a new product or service; and tests current marketing strategy. This concept works both domestic and internal markets; for international markets, various cultures will have to be researched and adjustments made to integrate the products or services successfully into the market (Kotler, & Keller,