Need
help finalizing my paper – Majority of the information is on the
previous milestones – please read the corrections made by the professor
– do not copy word for word. Below are the instructions, attached are
the milestones with corrections from the professor. also, needs a Summary of Adjustments from Previous Milestone Papers and example is attached. any questions please ask.,
MBA
560 Final Project Guidelines and Rubric Overview More and more firms
and organizations have realized that the brand name associated with
their products or services is one of the most important assets that they
own. A brand embodies a company’s identity and the quality, ideals,
ethics, and customer commitment for which it stands. It is the heart and
soul of the decisions on which products are brought to market and how.
It also enables management to strategically and effectively steer the
destiny of a product or company while building value. For this summative
assessment, you will imagine you are an executive in charge of branding
and strategic positioning initiatives at a company of your choice. (The
company may be a place for which you currently work or have worked in
the past, a company of interest, or a new business that you are
creating, subject to instructor approval.) You will build a
comprehensive business plan for the launch of a new product, service, or
business idea at the company. Your plan will evaluate current branding
strategies, describe the target market and its unique features, assess
existing organizational strengths, weaknesses, and core competencies
with respect to the new idea, determine pricing strategies, and
establish continuous improvement processes that span the life cycle of
the product or service being offered. You will also consider how
consumer trends and ethical business practices might impact your plan.
Ideally, your business plan should be the next step in developing the
product, service, or other business idea you started conceptualizing in
the previous Business Environment, Innovation, and Entrepreneurship
course; however, you may choose a different idea with instructor
approval. Note that you will continue to build on this business plan
throughout your 600-level MBA coursework, culminating in the capstone in
which you will tie things together and either begin to implement your
plan (if feasible), or create a plan for implementing it (if
implementation is not feasible). The project is divided into three
milestones, which will be submitted at various points throughout the
course to scaffold learning and ensure quality final submissions. These
milestones will be submitted in Modules Three, Five, and Seven. The
final product will be submitted in Module Nine. In this assignment, you
will demonstrate your mastery of the following course outcomes:
Evaluate branding strategies by applying appropriate marketing and
management analysis Defend target market choices by analyzing the
unique characteristics of potential markets that impact business success
Justify pricing decisions based on relevant target market analysis,
business goals, and market conditions Assess the strengths and
weaknesses of organizations in strategically planning new business
activities Assess consumer trends and business ethics for determining
their potential impact on branding image and business success in a
global environment Design business-wide continuous improvement
processes for regularly reviewing branding and business activities and
implementing needed changes Prompt Using your business idea from the
previous Business Environment, Innovation, and Entrepreneurship course,
or a new idea with instructor permission, imagine you are an executive
at the relevant company. You have decided to take this idea to the next
level by producing a comprehensive business plan to present to senior
management and potential investors in order to convince them to back the
project. Your plan should focus on key elements of marketing and
strategy, such as branding, customer base, existing resources and
capabilities, pricing, and other factors that could affect the project’s
success. It should highlight the merits of the project based on a
detailed internal analysis, showing how the idea fits with the company’s
mission and vision. Remember that a well-constructed business plan
provides concise, accurate information that allows busy executives or
investors to quickly grasp the essentials of your idea, the key need or
want it addresses, and how you will meet that need or want.
Specifically, the following critical elements must be addressed: I.
Executive summary. Briefly explain the key features of your business
plan and why your product or service is better than that of your
competition in the eyes of the target market. Remember that your goal is
to give the intended audience the most essential information up front,
while convincing them to read further for details. II. Context. This
section should provide leadership and potential investors with
background information on the company’s current brand and how the new
product or service fits with that brand. Be sure to do the following: A.
Lay out the key defining features of your company’s brand and how these
features drive business decisions. For example, how are these factors
an extension of the company’s mission, vision, and values? What are the
non-negotiables for a product or service to carry the company name? B.
Assess how the new idea fits with the company’s existing brand and how
that impacts your business plan. Support your response with relevant
research and analysis. For example, will the product or service be part
of a new brand or an existing brand? How will that affect the way you
market the product both within the company and to consumers? C. Evaluate
the effectiveness of the company’s existing branding efforts (or
branding efforts for similar products or services if yours is a new
company). What does the evaluation suggest for the new product or
service? Support your response with relevant analysis. III. Need. Use
this section to define your target market and explain how your product
or service fills a critical need or want for that market. A. Define your
target market and its unique characteristics. Be sure to discuss the
following: i. Basic demographics. What are the key demographic features
of the individuals or businesses who are most likely to purchase your
product or service? Support your response with relevant market research.
For example, how might age, purchasing power, decisionmaking authority,
or other factors affect the product or service’s appeal to potential
customers? ii. What other behavioral or psychographic characteristics of
your target market might affect their purchasing decisions? Support
your response with relevant research. B. How does the new product or
service meet a specific want or need of the target market that you
identified? In other words, what principal benefits or key features
would the target market find appealing? Support your response with
relevant market research. C. Based on your analysis above, why is this
target market the best strategic choice for the success of your product
or service? IV. Strengths and weaknesses. In this section, you should
assess the ramifications of the new business idea on branding,
operations, and planning within the organization, based on internal
analysis. A. Assess the company’s tangible and intangible strengths in
providing the new product or service, along with any weaknesses or gaps.
Your response should comprehensively address different aspects of the
business, establishing clear links between the strengths and weaknesses
you identify and how those affect planning for the new business
activities. The factors you identify will depend on your business and
idea, but might include things such as staff capabilities and turnover,
organizational culture, production capacity, location, customer loyalty,
supply chain relations, financial stability, or ability to acquire
funding. B. Assess the opportunities and threats that emerging consumer
trends and company ethics may present to the success of the new idea. i.
Consumer trends. How might emerging trends in consumer preferences
(e.g., buying local, support for green technologies, organic foods,
etc.) impact the branding and business success of the new product or
service you are launching in the current global marketplace? Justify
your response, identifying the trends that are most relevant to your
product or service and how they apply to your target market. ii. Ethics.
How might perceived ethics violations affect the branding image and
ultimate success of the new product or service in a global environment?
Support your response with specific examples. For example, do different
target populations have different perceptions of what constitutes
ethical behavior? How do consumers respond to those violations and what
is the impact on business (e.g., product avoidance, lobbying for new
regulations, etc.)? C. How might the factors you identified above affect
branding and operations across different departments in the company?
How does your business plan take this into account? For example, does
organizational structure help or hinder branding and launch activities?
Do departments have competing interests? Do they communicate
effectively? V. Core competencies. Assess aspects of the company or new
idea that set you apart from the competition and provide long-term
sustainability in the market. How do those competencies affect your
business plan? In other words, what things about your company, product,
or service provide significant value to the customer and are very
difficult to duplicate? How can you use that strategically? VI. Pricing.
Use this section of your business plan to develop and justify a pricing
strategy for the new product or service. Be sure to address the
following: A. What are the fixed and variable costs to the company of
producing, marketing, and selling the new good or service, and how do
those fit with the company’s short- and long-term objectives? Support
your narrative with a table showing calculations and any assumptions. B.
How much is the target market willing and able to pay for your product
or service? Use target market analysis and research on competitors’
prices to support your answer. C. Are targeted consumers willing and
able to pay more for your product or service if it (or the organization,
more generally) aligns with their preferences for socially responsible
and ethical behavior? Justify your response with evidence. D. In light
of your analysis, what pricing strategy and price is most appropriate
for this product or service and why? For example, would skimming,
penetration, economy, or premium pricing be most appropriate? What
should the initial price be? VII. Refinement. This section should
highlight processes for reviewing and refining branding and other
activities surrounding the new product or service. A. How and when will
you evaluate the success of the new product or service and its branding?
Be sure to suggest processes that occur at regular intervals and extend
across the business, explaining how results will impact decisions on
whether to continue or to initiate exit strategies. B. What regular,
business-wide feedback loops and processes will you implement to support
the new idea, keep it on track, and make mid-course corrections as
needed? For example, will you adjust business functions and/or
facilitate regular communication across departments? How will you
collect relevant information and ensure its accuracy? C. In planning for
the future, how will you identify and integrate other factors that
might affect implementation of the new idea into your business decisions
and planning? In other words, what other things do you need to consider
when moving forward? Milestones Milestone One: Context, Need, Pricing
In Module Three, you will submit a short paper covering context, need,
and pricing. This milestone establishes your chosen organization’s
direction within the marketplace. This is important because it drives
the subsequent activities, milestones, and the final project. Without a
strong sense of the organization’s purpose within the marketplace,
knowledge of consumer trends, and how to meet target market needs at the
appropriate price, management is less likely to maximize the efficiency
of business activities and more likely to miss fully meeting the needs
of its chosen target market. This milestone establishes how the
organization will differentiate itself from its competition through
branding with a unique product or service offering designed to meet
specific consumer needs or desires that are shaped by their
demographics, personality, or buying style. This milestone will be
graded with the Milestone One Rubric. Milestone Two: Strengths and
Weaknesses, Core Competencies In Module Five, you will submit a short
paper covering strengths and weaknesses and core competencies. For the
company you have chosen, write a short paper that identifies and
analyzes at least four, but no more than eight, strengths and
weaknesses. Continue your paper by identifying and explaining three to
five core competencies for the company you have chosen. This milestone
will be graded with the Milestone Two Rubric. Milestone Three:
Refinement In Module Seven, you will submit a short paper covering
refinements. Using the idea that you have chosen, write a short paper
covering activities and items upon which success will be evaluated and
how these will be evaluated, timing intervals for information gathering
and analyzing feedback, what feedback loops exist or will be created,
how these loops and the ensuing feedback will affect the overall
organization, and what, if any, other factors should be considered as
you move forward with your new product or service. This milestone will
be graded with the Milestone Three Rubric. Final Project Submission:
Comprehensive Business Plan In Module Nine, you will submit your final
project. It should be a complete, polished artifact containing all of
the critical elements of the final product. It should reflect the
incorporation of feedback gained throughout the course. This submission
will be graded with the Final Project Rubric
attached
you will find the instructions for the document and all of the
completed milestones with the corrections suggested by professor, It
has to be based on my project. Teckno Plus
This
paper should be viewed as a professional document that you would submit
to a Board of Directors, banking institution for funding, or other such
entities. Include a cover sheet, short abstract or executive summary,
introductory paragraph in the body that briefly explains your business
idea, and citations. INCLUDE A CHANGE GRID like the following. All
this should be done per APA formatting.
Please look at corrections from professor and do not use the same wording used in other milestones.
Follow directions from MBA Fina Project and need to complete an example final doc.
First person failed to meet requierements and copied all of my previous work
Any questions or clarifications please ask.
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