Homework Question on Strategic Planning
You are an entrepreneur who has recently launched a new kind of chocolates, made from high end chocolates filled with liquor, that has quickly obtained a loyal following in San Francisco, Marin County and the Valley.The company has decided that it would like to increase production of your candy line to serve a wider geographical area, with the eventual goal of serving all of the United States and Canada. To increase market share of the highly successful chocolates you must downsize the department manufacturing lollipops (failing sales) to increase production of the chocolates. The problem you have is deciding the best way to secure your market share and manage the environment as you grow. Your supply chain currently involves purchasing the cocoa from a local vendor and liquor from a large distributor. Both can meet your demand for supply.
In a 2-3 page APA formatted paper indicate:
- How you would go about ramping up for increased production and downsizing the lollipop department to maximize your chance of securing a stable niche in the candy market nationally.
- Support your choice with information from the text book AND two (2) other research sources.
- Cite all research information contained in the paper.
Homework Answer on Strategic Planning
After launching a new brand of chocolates that quickly recorded great sales in San Francisco, the County of Marin and the Valley, the chocolate company intends to increase its production and expand its market to the United States and Canada. In order to increase the market share of chocolates, downsizing the department of lollipops manufacturing that is recording a reduction in sales will be done so as to increase production of the chocolates
This study seeks to determine how best the company will secure its market share and further manage its environment in order to expand its market. In addition, examining how to strategize on downsizing staff in the lollipops department so as to optimize chocolate productivity constitutes the scope of this study.
The best way to secure the shares and expand market is through developing an elaborate strategic plan. In addition, development of an Integrated Marketing Communications Plan (IMC) will help in adopting marketing creative, extensive advertisements through media, and product positioning.The companywill seek to capture the target audience and make IMC plan a successto enhance realization of its objectives.