MARKETING STRATEGIES Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Abstract

Business plan is one of the significant components of a business model. While designing a business model, a business plan is also created. The components of a business plan should be implemented efficiently while implementing a business plan. Audience should be identified in the process of developing a business plan. Every business has to recognize the target audience for the business as per the needs and demand of the company. The better and effective the identification of the audience; the more beneficial this is for the company to achieve the goals and objectives of a business plan. Business model and business plan are inter-dependent on each other. In given case, six rules for market revitalization has been used to revive the brand of McDonald, as it has lost significant global market share because of the diversion from their vision and basic purpose, they were focusing on cost reduction instead of quality product and service. McDonald changed their strategy for achieving growth through expansion of outlets and marketing was done through promotional activities, which led a decline in revenues; therefore, McDonald implemented six rule strategies for revitalization of its brand in order to regain its market share. All the strategies and processes are generated and developed at the strategic level but the implementation is conducted at the operational level through the operational process facing all the day to day problems in order the achieve the goals and targets of the company, which leads to the accomplishment of the global strategy of the company.

Key Words: Business plan, targeted audience, marketing strategies.

QESTION 1: Once a domestic business strategy is created, why should a business plan be created, that is focused entirely on global market?

Domestic Business strategy is one that addresses plans drafted for domestic markets, domestic consumers, domestic government and domestic suppliers (Owner, 2013). This means that the strategic business plan drafted by the company is domestic in nature when it tries to serve nationally (Owner, 2013). Initially, when a firm enters a business so it cannot serve all the locations on the map. As globalization is rising, and the trend is moving toward a more international business-oriented model, so companies draft their business plan such that ir focuses on emerging markets as well (Howard, EY Building a Better world, 2014). The trend is moving towards emerging markets that is the hot topic for the C-suite executives at present. Going global is the key to success, as boundaries between the nations are going blur. The companies do not only need to mould their business plan to benefit their expansion plans, to move operations to a lower cost manufacturing and cheap labor country but also to prevent threat from new (international) businesses to enter their very market (Howard, EY Building a Better world, 2014).

The six global trends prevalent in the business world are driving global growth by the emerging markets, the emerging markets disrupting the global landscape of competition, rising population and urbanization, developed countries facing threat from the emerging markets incumbents and the overall global influence on the economy of the world (Howard, EY Building a Better world, 2014). This has led the companies to consider and remain cautious about the risks they can face by entering into a global market (Québec, 2014). These risks may include cultural shock, which has led many companies go bankrupt in other nations. Another thing to consider is the local needs and demands of the targeted segment, and then molding the product offering accordingly (Québec, 2014). Change management and getting control of the management practices prevalent in the market needs focus, in whatever the country plans to move its operations to.

It is estimated that by 2020, a billion people are going to be in the middle class segment. With rising population, the consumer spending patterns will also show a positive shift, which will create an opportunity for businesses to commercialize (Howard, EY Building a Better world, 2014). To seize this prospective opportunity, companies need to revamp their business models and re-appraise their communication top the market, their research and development efforts, branding and other related business functions (Howard, EY Building a Better world, 2014).

Brand positioning for example leads companies to mould their business plan. What might be considered a premium product in one country might be perceived as an unaffordable luxury in the other. Companies need to avoid erosion of their brand equity by planning for what is ahead through effective planning for their brand positioning (Howard, EY Building a Better world, 2014). Given the domestic structure that is followed in one company, going global does not mean business strategy replica. Rather, they need to furbish the structure according to the market. With the increasing trend of urbanization and middle class segment growth, the preferred locations to this segment will be cities, and therefore, the marketing should be city clustered- oriented (Howard, EY Building a Better world, 2014).

In essence crafting a business plan for future is beneficial ................

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