In January of 2002, John Ferrer and his wife Deborah started their own corporation, a large custom furniture manufacturer located in Boston, MA. Their initial accounts were in the Northeastern region of the United States, and they annually observed a constant profit increase. By March of 2006, they were able to grow the company enough to go from five distribution and manufacturing plants to 10 to allow shipping to 48 states. Although they have two retail stores, one located in Phoenix and one in Boston, their primary source of revenue is online catalog sales. They have 10 manufacturing plants and distribution centers throughout the country.
John and Deborah’s corporation is known throughout the industry for its exceptional customer service and superior quality. The contemporary designs lend themselves to a younger market, and the customer base is predominantly upper-middle class because it is one of the highest priced furniture companies in the market. Part of the appeal of John and Deborah’s brand is their consistent involvement with the local communities to create green gardens. They have also been a major contributor to organizations that build houses for people in need.
One of their primary strengths is their vertical integration. They have a team of in-house designers saving the company design costs and allowing the flexibility to rapidly change designs as the market changes. Their products have been featured on several prominent home design and gardening shows and have been endorsed by several well-known designers.
Because of the recent housing market sales decline (8% from 2005–2006), home renovations have slowed significantly. This has impacted the amount of furniture and fixture sales and continues to impact revenue. Furniture sales in the United States have decreased significantly, and John and Deborah have recently been discussing the possibility of global expansion.
Another potential threat to their company is that many higher-end brands have been marketing aggressively and creating lines for popular retail stores. These allow the lower-income consumers to have access to high-end brands at a much lower price point. So far, these lines have been incredibly successful and have significantly increased profits for competitors. Many of these competitors have also had great success in the global marketplace with these lower cost replicas.
John and Deborah know that it is time to seriously consider expanding their business. They want to be able to make it through the economic crisis and rely on other ways to increase sales and business. They are open to looking into the global market, but they want to be sure that it is the right move for the business. They have requested an advisory board meeting next month in which you will present the global marketing strategy. As the market strategist, you will play a key role in helping the board decide if this is the right move for the company.
Primary Task Response: Within the Discussion Board area, write a respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
As you close your weekly meeting with Deborah, she says, “There are some very good ideas here. I would like to see you continue with a global marketing plan. We need more concrete analysis and data for the presentation. Get your team to work.”
After your meeting with Deborah, you briefly meet with your team to discuss moving toward a more formal analysis.
“Tiffany and Mike, we need to provide a more detailed analysis,” you explain. “You’ve done a great job so far looking at what resources we need and potential countries, but we need to really dig deeper on this.”
Tiffany nods her head in agreement. “Definitely,” she says. “We need to look at some internal variables as well as political, environmental, sociocultural, and technological environments of the countries that we are considering.”
Mike interjects, “Well, that’s something we should consider, but it’s not the only way to analyze this type of project. This is such a big decision, and we need to give as much information as we can.”
You reply, “Great point, Mike. We should look at this from a couple of different angles.”
The next step in your strategic marketing plan is to determine the tools that are needed to conduct an analysis of the industry and competitors. Complete the following:
• What are the best tools to use in this situation?
o Provide a brief summary of at least 2 of these tools.
• Why do you think these are the best ways to analyze the market?
• How will you use these tools in your plan?
Since all our papers are written from scratch, the papers we submit are plagiarism free and we strictly adhere to lecturer’s instructions. Our writers are highly qualified from all over the world and include graduates and professors from most of the largest and known universities in the world. Once you have assigned us your assignment, we select the most qualified and reliable writer to handle your assignment.
Unlike other writing companies, we encourage clients to draw back their money at any stage of the writing process if they experience any uncertainties with the quality of generated content. However, you will hardly have to make this decision because of our business approach that suits your needs.
We have an advanced plagiarism-detection system that flags any work that fails to meet the required academic expectations. Our company thrives in honesty, and as such, you will be guaranteed to achieve a paper that meets your expectations.
At homeworkpaper.org we have online agents that you can chat with to have your assignment taken care of with the little remaining time. Also, we have professional academic writers who will work on your assignment providing you with a high-quality paper at the same time. We can take care of your urgent assignments in less than 5 hours.
We uphold confidentiality and privacy through our interactions with clients, an aspect that has enhanced our relationship with prospective customers seeking for assignment help. We do not disclose your information with third-parties; neither do we share your work with any other person apart from you.
We do not resell previously-done tasks delivered to other clients. When we deliver orders to our clients, we safeguard their privacy and confidentiality by ensuring the third party does not access the work. By writing the papers from scratch, we have managed to maintain a certain level of originality, which defines our business model. Our qualified editors proofread all submitted work to eliminate mistakes that can interfere with the credibility of the assignment.