Problem:I selected a product (Plasma TV) and I have to research it. I have to provide information on the channels that are used to deliver it to the end-user. I have to consider the following:
I selected a product (Plasma TV) and I have to research it. I have to provide information on the channels that are used to deliver it to the end-user. I have to consider the following:
Which channels mentioned do you think are most efficient and why?
Should the company consider discontinuing or adding channels to its strategy? Explain.
The response addresses the queries posted in 1217 words with references.
//Before writing about the functional planning strategy, it is essential to gain knowledge about the Strategy and strategy planning. One should know about the main concept involved in strategy and strategic planning, which further will assist in analyzing the functional planning strategy, in an effective manner.//
Strategy can be defined as a plan or a set of activities that helps to move an organization from its current position to a desired future state. Strategy is the determination of the basic long-term goals and objectives of an organization and the adoption of the courses of action and the allocation of resources necessary for carrying out these goals. Strategies are formulated and operated at several levels: corporate level, business level and functional level.
Strategic planning is the roadmap for an organization and equates the organizational goals and its capabilities. Strategic planning process includes six steps:
1. Defining the vision and mission of the organization;
2. Determining the business;
3. Internal and external organizational appraisal;
4. Setting major objectives and goals;
5. Strategic planning and implementation;
6. Evaluation and control.
//Above is the description of the Strategy and strategy planning. Now, as per the guidelines, explanation about the Functional planning strategy and Role of marketing in strategic planning, along with an illustration is to be discussed.//
Functional planning strategies
Functional planning strategies are derived from corporate and business strategies. A plan provides objectives for a specific function and the allocation of resources among various operations within that functional area. The various operations are coordinated to the achievement of corporate level objectives. Functional strategies are defined in terms of functional plans and policies to ensure that strategic decisions are implemented by all the parts of an organization and are handled in a consistent manner.
Functional planning strategies may have several sub-functional areas. Mainly, financial, marketing, operations, ...
The response addresses the queries posted in 1217 words with reference