Please note! This essay has been submitted by a student.
The Dog is a growing technology company introducing a variety of traveler, workhorse, and Mercedes laptop and desktop computers for the business professionals. Our company creates innovative technology that offers affordable price and high performance which appeals to professionals, especially those that are constantly on the road or traveling, working in an office, and in an engineering field.
The DOG company was founded by Greg, Jenn, Marleen, Mick, Ahsan, were MBA candidate at the Elms College in Chicopee, Massachusetts. With a life of our target customers, working on the road or offices, or even in the engineering field, we were driven to design and manufacture computers for the global microcomputers business. These computers will not only be light or powerful but have the better functionalities as a computer would have if our customers were working in their offices or traveling or in the engineering field.
We want to establish our brand through coordinated marketing and operational execution that ensures brand recognition and the quality and consistency of our concept. These efforts include marketing programs, award-winning advertising to support our products. Our concept is further strengthened by our emphasis on operational excellence supported by stringent operating guidelines and comprehensive employee development.
Our business goal is to continue to grow and develop.
The DOG by targeting the top markets of the “Mercedes,” traveler,” and “workhorse” consumers. We pride ourselves through our mission statement: “To build a strong relationship with people and businesses all over the world by helping them reach their full dynamic. We will take the lead in developing advanced systems of technology to satisfy our customer’s needs within a reasonable price index.”
THe DOG was noted to be weak in two areas: manufacturing productivity, and financial risk. As the quarter’s progressed and THe DOG’s performance continued to weaken, and our company is now the weakness in the following areas: market performance, marketing effectiveness, wealth, manufacturing management, financial risk and the overall performance of the company. THe DOG is trying to develop a new produce and launch which was not a good idea. With all the risks and weakness that were noted by mid-quarter, our company should have focused more on building financial stability as that was one of our biggest concerns. Investing in a new product like Greyhound 2, Poodle and marketing efforts set the company back which led to a large amount of debt. We also want to expand on another office and operating capacity that again was not needed nor the best strategic move.
Major problems that need to be addressed for the upcoming quarters are to build a stronger presence in the market, developing marketing strategies that are more effective in communicating our messages and reach our consumers Mercedes and most importantly building capital and financial stability to be able to sustain the company.
THe DOG is focused on revitalizing the company and regaining the market share as we did in quarter three, four, and surpassing those benchmarks. Our company main priority is to redirect the strategies in the upcoming quarters to save the company form bankruptcy; the ultimate failure. With the four areas of marketing, manufacturing, sales channel and financials, we have to create new goals, objects and plans of strategy to accomplish the success of reentering our brand to the established regional markets.
THe DOG’s target market is based on serving the traveler, workhorse and mostly the Mercedes consumers. As our mission states, we will continue to provide quality product and services with a focus on being highly innovative, transformational and affordable. We want to recover our focused markets for the following quarter/s, so we can eventually move forward with expanding the company with new product development, entering new geographic locations and succeeding with total market dominance. Our main focus is to gain our target market consumers and ensure they are content with our products and enjoy THe DOG’s experience.
THe DOG’s is planning to redesign their top best-selling products: Labrador 2 and Poodle. This launch will take place in upcoming quarter. For the upcoming quarters, our company will devise a marketing plan to be advertised aggressively in our existing geographical locations’ through available channels, such as web, leading magazines etc. Once the newness of the redesign launch subsides, we will pursue an ongoing marketing campaign/campaign target at the local market.
Our sales channel has been our strongest asset for the company’s success. First area of focus will be the realignment of the sales force team by removing personnel from the workhorse market and one from each market: cost-cutter and traveler. This will a decrease in cost in manpower until we can establish ourselves as leading market providers and see need to increase our sales force team again. Our company will remain in the existing markets. We have established ourselves in these markets and because of invested research we are aware of the consumers’ market in these regions. With that knowledge we will be able to re-design our products to the needs and will remain focused to continue this success in the new year.
One of the company’s issues was the operating capacity for our factory locations. With the re-launch of our new products, we will decrease the operating capacity down by two thirds (is it correct). This will assist in saving on costs but still will have the operating capacity to produce the number of products to meet the demand of the markets. We will probably need to cut back one more sales person on staff. With the success of our products previously on the market, we won’t foresee the need to spend on quality costs. Our focus is to enhance the features in our re-design and may need minor quality report at the midpoint of the following year.
Inventory will be cut back as well for the upcoming quarter. We will decrease the amount we have left on inventory that may cause us to sell products Greyhound old version) as a lower rate to remove them off the self. We will conduct research to see the want of the newly launch products Labrador 2, Poodle and produce at an amount less that what is demanded. This will have the need for demand to always be in effect, but we will not have the issue of having an overhead on our ending inventory.
THe DOG’s vision is to be genuine and creative to meet the consumers’ demands for technology that driven by the economic conditions, demographic trends, and pricing. THe DOG will move from a “need now, buy later” to a “need now, buy now” consumer.”
THe DOG’s management is confident that the rehabilitation of the company can achieve its assertive sales forecasts, generating total sales of approximately $ ( can you predict) million in the past quater’s reporting (All reporting is found in the appendix of this plan).Our management will carefully consider its markets, potential consumer base and the ability to grow sales avert to capture 20-25 ( just prediction) percent of the professional technological industry that are looking for quality along with affordability.
“At THeDOG, our mission is to build a strong relationship with people and businesses all over the world by helping them reach their full dynamic. We will take the lead in developing advanced systems of technology to satisfy our customer’s needs within a reasonable price index.” Goals and Objectives Need to specify. Action Plan (need to specify the time)
THe DOG has the potential to become a highly regarded resource in the local, regional, and international markets. Due to the company’s reformed marketing strategy, careful development of redesigned products coupled with strategic partnerships with as industry’s leading technological company, the company’s profitable revenue model; THe DOG has the potential to provide lucrative returns to potential investor(s).
For us to achieve status as a technology industry’s leader, it must secure investment capital. This capital will be used to rehabilitation costs, to re-establish a reputable brand and products, and to further develop the business, business infrastructure, internal systems, product development, human capital, and extensive marketing and strengthen exiting geographical positioning. Providing that our company is able to acquire its funding requirements, we should be able to gain a higher market share, achieve operational and manufacturing success for many quarters to come.
THe DOG was ranked as one of the third performances among the two new technological companies that formed this year 2018. We began with a strong start with one of our top selling computers, Labrador, leading the traveler market by 33 percent (second in share). With our two new brand Greyhound 2 and Labrador we gained the workhorse and traveler consumers in total 29% Competition continued to be strong for the future quarters. By mid-quarters, THe DOG was determined to be affordable and, in the workhorse and travelers’ market. It was the third leading company with majority of the demand of 29 percent in total market share. This was due the low affordable price and rebate offer for its products. The company remained in the same position because our major competitors APEX and The Goldstar Technology began to become more aggressive in all markets. APEX dominated the market share of 40% in quarter 4. In the markets our company is succeeding, The Goldstar Technology took over the Innovator market in a 54% and APEX took over the cost-cutter market of 75%. This was the result of these two companies adhering to the needs of the consumers, developing product(s) that meet the needs and wants and following through with strategies for market dominance that was beautifully executed.
Apex was the top performing company when evaluating the strengths of all three companies. They led financial performance, market performance, marketing effectiveness, wealth, manufacturing productivity and financial risk. On the other hand, THe DOG isn’t noted to have any strength but weaknesses. This was not a surprise based on our mid-quarter reporting.
Our biggest swore is the management of our finances. Our financial expert in this field to better align the financial burden for our re-designed strategy to cover our costs and accumulate profit. The debt ratio was extremely high (is it correct). Our company must focus on cutting down the debt. We must repay back much of that debt and with the funds we have available try to execute the now business plan. Our activity ratios are not at the lowest point in comparison to our competitors. We want to not be just above the average ratios but below.
The core of a business is the feat of the executed financial strategy. That not only included the profits and expenses but the decisions relevant to investment opportunities, whether our company chooses to invest or sell a portion of the company to an investor to build capital.
THe DOG would like to seek out an investment of $5million for the R&D and other departments development. We would prefer this investment would help us to develop our products and will help us to reach our target customer by satisfying their needs. We can offer the ability to become experts in our targeted markets within our time. We will have the comfortably to know that we have once dominated those markets but with the appropriate financial backing we can rejuvenate our shares in the market and becomes a technological leader in the markets.
With this investment we will expect to see a ROI of double with the proposed strategies in place for the upcoming quarters. Our company will be able to lower the debt and devote funds into investments opportunities, such as three-month certificate of deposits that we didn’t utilize this past quarters (am I correct?). In addition to the investment, we will have an additional (Cash in hand) with the sale of the remaining inventory left and contribute to the investment as well.