ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is located in Tennessee.
As members of the senior management team of ToolsCorp Corporation, your group has been asked to prepare a neat and organized report for the Strategic Officers Steering Committee (SOS-C) of ToolsCorp Corporation.
The purpose of this paper is to obtain permission from them to go forward with the next step (developing a full-blown business plan) for ToolsCorp's strategic initiative to break into the global marketplace.
Background Information
ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is located it in Tennessee. It builds power tools, lawn mowers, lawn furniture, microwaves, and ranges.
All products are manufactured locally and sold through large retailers that place sales papers inserted in every Wednesday and Sunday paper. Although they have a thriving business in the United States and Canada, ToolsCorp is trying to break into the global marketplace.
Your paper should discuss the following:
The additional material that your group considers necessary to support the case for going forward with ToolsCorp's global strategic initiative (This is not optional, you must input additional material.)
Please create the following:
Market Analysis: A preliminary market analysis of the market(s) into which ToolsCorp expands (Germany)
· A market analysis is a quantitative and qualitative assessment of a market. It looks into the size of the market both in volume and in value, the various customer segments and buying patterns, the competition, and the economic environment in terms of barriers to entry and regulation.
a. Economic; the global market's unemployment rate
b. Social, cultural and ethical; who is the target market and is ToolsCorp being socially and ethically responsible with the products it sells.
c. Demographic; to determine the population and what they need and want
d. Environment scanning; to determine ToolsCorp opportunities and possibilities
e. Political, legal, governmental, technological, and competitive trends; this research will determine ToolsCorp survivability rate in the area of expansion.
Competitors Analysis
· This section describes your competition and how you intend to compete against their current strategies.
Deliverable Length: 5 pages (minimum)
Include References