Develop a Marketing Plan for a Trophy & Engraving shop. Develop the situational analysis, executive summary, goals and objectives, advantages, strategic focus, the market analysis, implementation, evaluation and control, competition analysis and SWOT matrix.© BrainMass Inc. brainmass.com October 10, 2019, 8:05 am ad1c9bdddf
For Instructional Purpose. I am using a non-existing business name. Please create any business name of your choice.
Table of Contents
• Executive Summary
• Situational Analysis (This is the SWOT)
• Goals and Objectives
• Strategic Focus
• Market Analysis
• Evaluation and Control
Noble Trophy & Engraving Shop (NTES) will be a small start-up business that will be established in New York, NY, U.S.A. NTES will be a sole proprietorship business. The company will be strongly focused on selling and engraving popular trophies such as: (1) academic trophies, (2) achievement trophies, and (3) major sport trophies. NTES will provide regular and custom made trophies to meet its target market demands and requests. NTES owner and CEO, Mr. Peter Washington has envisioned this business for the past 10 years and has saved enough initial capital investment of $65,000 to start its operation without outside funding. Mr. Washington has employed strategic diligence in building good business relationships and agreements with 20 local schools, 15 major businesses and 10 major sports leagues that will begin to create revenue for his business when it starts operating on January 2, 2016.
Situational Analysis - NTES's SWOT
To achieve a positive strategic plan, an organization must conduct a SWOT analysis on a continuous basis (Pearce & Robinson, 2013, p. 164). Critical knowledge and implementation of competitive analysis is essential in determining the status of an organization's strengths and weaknesses. Numerous surveillance of an organization's external environment is necessary in taking advantage of favorable market conditions (opportunities) and establishing a contingency plans for hazards (threats). Accurate identification of an organization's strengths and weaknesses is a key to long term sustainability and innovative creativities.
• Strong Financial Standing: Our strong financial standing will help the business to appropriate cash in meeting its short-term operations (e.g. purchasing production materials, paying monthly utilities, and paying vendors on time, etc.) that are necessary to yield high revenue without the burden of paying back loans with interests from outside funding.
• Relationships: NTES has established relationships with potential customers of good reputation who will patronize our business on a long-term basis. In addition, NTES has built initial good relationship with ...
The expert develops a marketing plan for a trophy and engraving shop. A situational analysis, executive summary, goals and objectives, advantages, strategic focus, the market analysis, implementation, evaluation and control, competition analysis and SWOT matrix are provided.