Assignment: Strategic Plan
Strategic Plan Assignment
The ability to think strategically and make choices based on solid analysis and evaluation, in order to capitalize on achieving optimal results when applying limited resources of the firm, are at the core of this strategic initiative plan.Strategic initiatives act as the vehicle to accomplish strategic goals.Strategic initiatives translate vision into reality.The strategic management process enables organizations to achieve objectives through three stages: strategy formulation, strategy implementation, and strategy evaluation.
For this assignment, create a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan that seeks to increase your organization's competitive advantage.Your strategic plan should aim to innovate.Throughout the development of your strategic plan consider your organization's responsibility in the greater social good from a Christian perspective and how your plan address ethics, cooperate social responsibly and sustainability.Globalization brings both benefits and challenges in the business sphere.Be sure to consider how globalization impacts your strategic plan and address any international considerations if needed.
The company to use is Mary Kay, Inc.The strategic plan is a market expansion and the target market is the 18-25 age generation.
Part 1: Marketing
Consider if your strategic plan is a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan.Deciding who the target market is and determining their demographics, behaviors, motivation, needs, and goals is essential because the target market drives the marketing plan.This is typically done through studying research and data related to how potential customers are willing to invest their time and energy. Additionally, by deciding who potential customers are, deciphering their needs, and likes and dislikes, learning about their lifestyle, and observing how the target market behaves, creating a brand that appeals to these customers is possible.
Createa 15-20slide PowerPoint with speaker notes that explains your marketing strategy.Refer to the Marketing section of "Operations Chart" that was due in Topic 4.Based on your research and experience, your ideas may have changed and can be modified at any time during this plan.
Address the following:
1. What is your target market?
2. What is the size of your target market?
3. What resources do you believe would be required to implement your plan?
4. How will you reach your plan?
5. How does your marketing strategyseek to achieve your vision? How will you measure if the marketing strategy is achieving your vision?What are the indicators to identify this?
6. What type of leadership and innovative qualities do you plan to implement in order to execute your marketing strategy?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.