23 Jun Developing the Product/ Service. This course has a major project assignment due in Week?5. It will take more than a unit’s effort to adequately complete it. Plan time to
Week 4 Project
Instructions
Developing the Product/ Service.
This course has a major project assignment due in Week 5. It will take more than a unit's effort to adequately complete it. Plan time to start the research and work on the assignment earlier than the week in which it is due.
Using the same organization selected in Week 1 for the course project, complete the following tasks:
- Assess the types of stakeholders involved in the development process for the product/service of your chosen company.
- Evaluate the impact of key inputs from stakeholder groups on new product/service development efforts.
- Analyze the role these key stakeholder groups can play in contributing to the success of a new product/service.
- Justify at least two persuasive strategies that can be used to engage stakeholders in new product/service development projects.
- Assess the key competitive advantages that utilizing the current trends in information technology (IT) will deliver to the area of new product/service development.
Submission Details:
- Submit your answers in a 3- to 4-page Microsoft Word document, using APA style.
- Name your document SU_MBA6011_W4_LastName_FirstInitial.doc.
- Submit your document to the Submissions Area by the due date assigned.
PROJECT 1
PROJECT 5
Marketing Strategy
Sonya Hatfield
South University Online
Professor Quigg
MBA6011
June 6, 2022
A marketing strategy for an organization refers to a business overall plan that will enable it get prospective consumers and possible convert them into their customers of their products and services. Developing of the marketing plans entails the isolation of a target segment, a set of goals, and the implementation of initiatives that are aimed at putting the words into action. (Zerjav at .el 2021).
A building construction organization marketing strategy can also be developed. Ideally this kind of an organization what it does is to execute the both the building and infrastructure work, for instance whatever that is given in drawings sheets, they make it become real by having it constructed at an agreed amount by their customers. Construction companies also have clients just like any other organization depending on what is to be constructed, they include: Companies, Developers, Government and Families. The following is the SWOT analysis that will be performed to this construction organization. (Stone & Machtynger 2020)
1.) Strengths: -The construction company has to be efficient, this will come with an added advantage since it will avoid the wasting of materials, energy and efforts in its construction. This will ensure that the company has good profits in the long run and the customers needs of quality work will be met as well. The other strength of the company will be having healthy working relationships with the suppliers. This will ensure that the much-needed material will be readily available for any construction that is to be undertaken making the work to be continuous until the whole project is completed. The other strength will be having the possibility of working on other projects in the near future, this can be achieved by winning the clients on the quality of work delivered, this can make the clients give you more work or refer you to a friend that will need such services. This secures the future of the organization since the market will be expanding.
2.) Weakness: -Having inadequate definition of the customer needs, this could really cost the organization as the customers will seek the same services from other construction companies that offers the same service but with quality. The other weakness can be having too many levels of reporting in the organization structure. This tends to waste a lot of time which will later delay the entire project, other companies can take advantage of this and reduce on their levels of reporting making it quality in time spent on a particular project ending up taking all the shares of the customer of an organization with such weakness. The other reason could be having limited product or materials for the construction. This makes it very difficult for the work to proceed since the material in need for the construction of a particular project will not be available, companies that night be having such stocks will automatically get the contact and do the failed project.
3.) Opportunities: -One of the biggest opportunities will be getting the government funded construction projects. This will make the construction company very unique since not all government projects are handed to all organizations but rare, the receiving organization has to ensure that it delivers at its best. The other opportunity that will be available for the construction company will be the use of digital technologies, this will make them become more effective and competitive since they will be able to reach as many customers as possible.
4.) Threats: -This includes the equipment damage and theft, for instance the organization might seize to exist if all its equipment get damaged or stolen. Proper measures can be put in place to prevent such from happening. The other threat could be faulty work and missed deadline. Having faulty work will mean that the client is will not be happy with your work as a result loses them. This customer will be taken over by other organization that are offering quality work.
The organizations mission statement will be having the following core components namely: Customers, it should be clear on the list, give their names, location and what they say about the organization. The product and service, it should state the list of projects that the organization can work on, the materials that will be used and also the after-project services that will be offered. The market, the targets should be set and a list provided that will be subject to strutting in every single fiscal year to evaluate and advice on the future as well. The completive advantage against other organization can be clearly indicated on the uniqueness of the products, the type of engineers that are on the construction site and also the kind of sophisticated machines that are used. Measurability of how successful we are can be done by getting the mileage gained by the organization for a particular financial year, the number of customers and new markets penetrated can also be an area of measure. ( Li & Leonidou 2021)
A revised mission can state “to make sure that we deliver quality products that will be loved by all our customers” This will be an improvement since the organization will have to focus on the key components of the construction business that will be quality of the work done and customer satisfaction. If these two are meet then it will ensure the future of the organization in this line of business. This will make the management of the organization to start implementing the guideless and rules that will enable the mission statement becomes practical.
Reference
Zerjav, V. (2021). Why Do Business Organizations Participate in Projects? Toward a Typology of Project Value Domains. Project Management Journal, 52(3), 287-297.
Stone, M., Aravopoulou, E., Ekinci, Y., Evans, G., Hobbs, M., Labib, A., … & Machtynger, L. (2020). Artificial intelligence (AI) in strategic marketing decision-making: a research agenda. The Bottom Line.
Li, F., Larimo, J., & Leonidou, L. C. (2021). Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda. Journal of the Academy of Marketing Science, 49(1), 51-70.
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