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Business Management

Business Management
You have just been hired by KFC as its new vice president of strategic planning. The corporation’s performance in recent years as well as the changes with business and economic conditions will be a central focus of your new job.
Given the size of the corporation and the fact that it is in a highly competitive industry, the chief executive officer (CEO) to whom you report has already given you permission to hire a staff of recent Master of Business Administration (MBA) graduates to assist you in your efforts. You recently completed the interviewing and hired four people with minimal real business experience.
In coming months, you and your team will be creating a completely new—and, presumably, more effective—strategic plan. You plan to begin by holding a kick-off meeting with your team.
To feel confident that all of the employees in your strategic planning team understand all that you have taught them, you require each to prepare a streamlined version of the key elements of a strategic plan. You require each employee to prepare the following sections of a strategic plan for the corporation’s next 3-5 years:
•Mission and Vision Statements (Simply copying from an existing real company is unacceptable.)
•Specific, Measurable, Achievable, Realistic, and Time-Bound (SMART) Goals and Objectives
•Industry Analysis
•Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) Analysis
•A Perceptual Map ◦Choose any criteria that you think are important to plot.
◦Explain why you picked the criteria.

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Business management

I’m trying to study for my Management course and I need some help to understand this question.

APA

Paper instructions:

Scenario 2: You are the owner of a small to mid-sized business. You are currently developing your marketing plan for the upcoming year. The marketing plan will include both the tactical and strategic plan elements. You will also discuss the implementation and evaluation of the strategic marketing plan.

In Week 3, you will answer the following:

  • Summarize your selected scenario and details about the firm and/or product line.
  • Assess which of Michael Porter’s basic strategies you will use to market this product and why.
  • As you know from your reading, consumers have different product needs and use products differently. Segmentation seeks to group different demands and needs into clusters with similar demand patterns. Using the dimensions of market segmentation, determine and defend which markets you will target with your marketing plan. Outline your target market in detail.
  • Justify the stages in the consumer decision making process for your selected product or service. Be sure to discuss how consumers evaluate alternatives and what mediums they use in the information search stage.
  • Conduct research to determine where improvements should be made to your product or service line
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