Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
6th Edition
ISBN: 9781285869681
Author: Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher: Cengage Learning
Bartleby Related Questions Icon

Related questions

Question

Our company, XYZ Corp, is a leading innovator in the field of office furniture, with a special focus on ergonomics and technology integration. Our product, the AI-powered smart standing desk, is a state-of-the-art piece of office furniture that combines the health benefits of a standing desk with the convenience of AI technology. The desk can adjust its height automatically based on the user's preference, and it also features integrated charging ports, a digital display for reminders and notifications, and voice control capabilities. The advantages of our product include improved health and productivity for users, convenience, and a modern, sleek design. The product's features include automatic height adjustment, integrated charging ports, a digital display, and voice control. In the future, we may consider expanding our product line to include other smart office furniture, such as chairs and storage solutions, for the Vietnamese market. 

The marketing mix refers to a company's set of actions or methods for promoting its product in the marketplace. Price, Product, Promotion, and Place are the four Ps that make up a conventional marketing mix. A business may make lucrative marketing decisions at every level by identifying and arranging the elements of its marketing mix. The concept can also be applied within a global marketing context, and a strategy should be developed for each Ps with the international market in mind. This part of the process should take into consideration all of the other sections of the marketing plan you have developed so far. It is here where you will craft a plan to support the organization's international expansion into this market. Your plan should include a strategy for each of the following:

  • Product/Service Strategy 
  • Pricing Strategy 
  • Distribution Strategy 
  • Promotion Strategy

Measurement and Control

To ensure that you are on track, marketing plan controls compare actual results to your marketing plan. Evaluating to see whether enough leads are being created, ensuring that leads are resulting in sales, and checking specific promotions to see if they are working are all examples of controls employed.

Control is what tells you if you're on the right track or if you've arrived at your target if an objective states where you want to be and the plan lays out a road map to your destination. Control, in a nutshell, entails measurement, assessment, and monitoring. What procedures and measures can you use to make sure your plan is on the right track?

Ethical Considerations

Customers, suppliers, and business partners should all benefit from ethical marketing decisions and efforts. Price wars, selective advertising, harmful environmental practices and deceitful marketing are all examples of unethical activity that can harm a company's relationships and have serious implications. Consumers more than ever are preferring ethical businesses, which has turned a clear understanding of ethical considerations a critical component of any marketing plan. Please detail the ethical issues that arose as a result of your expansion into the country you chose.

Implementation and Recommendations

What resources are required to implement your plan. Any additional recommendations?

Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Text book image
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Text book image
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Text book image
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College