Competitive and Strategic Analysis Assignment Example | Topics and Well Written Essays - 1500 words

Competitive and Strategic Analysis - Assignment Example Corporate strategy: Corporate strategy on the other hand is the overall and general scope as well as the direction that a corporation takes in relation to its activities in the various departments. It is not specific, but gives a glimpse and idea on how all the operations of the various departments contribute to the general good performance of the corporation. Business strategy: Business strategy refers to the choices and decisions made in a company or corporation to realize a long-term value while at the same time achieving the desired objectives of the company or the corporation in question. It is the means of maximizing the outcome in a companys production system or in realizing the maximum profit from a company. At Best Buy, the functional strategy is vital in the marketing department because it is in this operational department that the customers will be able to familiarize themselves with the company and get to purchase the products. Any strategy put in place in this department is important because it affects the entire business outcome of the company. Marketing thus is the functional division of this company that is useful as the company does not produce its own electronics fully and yet it is a retailer competing with thousands of other retailers. Packaging the marketing team with the right and consistent information will thus affect the entire outcome of the company and affects all other departments. The function essential to the goal of 2014, which is expanding the number of stores, is proper marketing in the new zones of operation. The marketing strategy should be so that it captures the tiny little details and appeals to customers all across the boards as it redefines Best Buy as th e best brand in the market. The marketing team should advertise the company as the best brand available in the market and at the same time gives customers the incentives necessary to have the goods and electrical items from the

New Venture Development Business Plan Essay Example | Topics and Well Written Essays - 4500 words

New Venture Development Business Plan - Essay Example It is a private company incorporated in Hong Kong. There is a shift towards consumption of organic foods in China, especially in Hong Kong city because of extensive campaigns urging people to embrace organic products. Increasing population, high number of food poisoning scares as well as need for healthy eating is driving demand of organic vegetables and fruits to the roof in Hong Kong. Therefore, organic products markets is growing rapidly and is promising higher returns to investors. The business is a limited private company owned by a single person. The owner of the company contributed HK$106,000 and borrowed HK$60,000 to finance start-up and part of the working capital. Table of Contents 4.4 Regulatory requirements 8 4.5 Industry challengers 9 5.0 Customer 9 5.1 Understanding the customer 9 5.2 Target customer profile 10 6.0 Competition 10 6.1 Competitor Analysis 10 6.1.1 Direct Competitors 11 6.1.2 Indirect Competitors 11 6.2 Competitive analysis 11 6.2.1 Competitive Advantages 11 6.3 Entry and Growth Strategy 12 7.1 Objectives 13 7.5 The Product 14 8.1 Overview 15 8.2 Pricing strategy 15 8.3 Sales Tactics 16 8.4 Advertising and Promotion 16 8.5 Marketing Communications Strategy 16 9.0 Operations Plan 17 10.2 Personnel Plan 19 11.1 Start-up Summary 20 11.3 Breakeven analysis 21 11.4 Balance Sheet 21 11.5 Income Statement 21 11.6 Cash Flows 21 13.0 References 23 14.0 Appendixes 24 1.0 Introduction The organic vegetable and fruit market has been growing steadily in Hong Kong. This is because disposable income of people in China, especially Hong Kong is steadily increasing. In addition, in recent years, there have been incidences of food poisoning caused by chemical components in food and more people are shying away from chemically processed food. They are becoming more health conscious and are spending thousands of dollars to purchase organic products, especially food. Therefore, the market segment for organic vegetables and fruits is promising. 2.0 The orga nic vegetable concept After working in a grocery shop for over one year, Tim Chan discovered that most consumers in Hong Kong were turning to organic foods especially vegetables and fruits because they were consumed on daily basis. This is because of rising concerns of food poisoning and danger posed by processed and non-organic food to people’s health as informed by the media and health care practitioners. Four in every eighty consumers who visited the food store where Tim Chan worked asked for organic fruits and vegetables. Therefore, Tim Chan identified a growing opportunity to run an organic food store that specialized in vegetables and fruits sourced locally and from western countries. 3.0 Opportunity Rational China is one of the fast growing and lucrative markets in the world with a huge business promise to thirsty entrepreneurs and business persons. As disposable income increases in urban China, people are more preoccupied with higher standard of living and are turning to organic products, especially food to achieve better health status. China’s Urban and rural population spent between 37.9% and 43.7% of their disposable income on food (Lu ,2010). The market for organic food is big and unquenchable. According to (NTZE 2010), the supply of organic foods in China, especially Hong Kong is very low and there is need to increase supply. In addition, food and grocery market segment is expected to grow by 6.6% and 6.1% in 2011 and 2012 respectively. High demand for organic frui