Market Strategy

December 2023
Answer 1
Introduction:
A company’s strategy for the future is its blueprint for reaching its goals. Obtaining a
competitive advantage requires making strategic decisions on target markets and approaches.
Businesses often use a combination of organisational choice techniques. Take Apple as an
example; they employ strategy. In every market, Apple aims to maximise profits. The Mac,
Apple Music, iCloud, and iPhone are just a few of the many products and services offered by
Apple. The range of items available at Apple is directly correlated to the company’s capacity
to attract customers. When it comes to innovation, Apple is well-known. The organisation
places a high value on research and development, which might lead to new developments.
New markets can be created or existing ones can be disrupted by this. For Apple’s “vertical
integration strategy” to work, the company must manufacture a wide variety of products
internally. Thanks to its robust client ties, Apple is able to keep a firm grip on the user
experience and set itself apart from competitors. Apple uses a variety of strategies that are
tailored to various groups. This gives it a leg up in any and all marketplaces and product
types. A company plan may involve more than one stage. The innovative design, high-quality
construction, and intuitive interface that Apple offers set it apart from the competition. In
terms of both design and construction, the product is one-of-a-kind. The supply chain and
production processes at Apple take use of economies of scale, allowing the company to keep
costs low despite its size. Not the average consumer, but specialists, creatives, and the high-
end market are Apple’s primary focus. Creating and marketing individualised goods is less of
a hassle. In order to achieve their organisational and financial goals, Apple’s departments
collaborate on strategy development. You might find these examples helpful. Apple aims to
captivate customers with heartfelt stories that make them stay loyal to the brand. Huge sums
of money are needed to create and sell a revolutionary product. A broad supplier chain is
essential to Apple’s operations. New product development and launch times are reduced
because to the worldwide supplier network. The company put a lot of money into research
and development so that employees could be creative and exploit new technology. It is
Apple’s goal to hold on to its staff. The company will be able to make more creative goods
with this help.
Concept and application:
A multitude of tactics must be adopted as part of any comprehensive strategic strategy.
Organisations may improve their reliability and efficiency by using these hierarchical layers
to speed up goal alignment and decision-making. Additional research on the concept will be
conducted once the evaluation is complete.
A lot of different things have to happen in order for a plan to be put into action.
The company’s activities are guided by the parameters and ideas described in its business
plan. New business models, expanded product offerings, or a combination of the two are just
a few ways value may be produced. Businesses should look at where their competitors are
setting up shop if they want to have a long-term strategy.
The strategic initiatives of a company cover many different functional areas and product
lines. A product or business unit’s organisational structure within a market can be better
understood via the use of research that aims to provide comprehensive methods. There is a lot
of talk about business strategy. Differentiating oneself from rivals in the target market is a
topic of much debate.
The attainment of organisational and corporate objectives is the primary focus of our
functional-level analysis of strategy. Our functional analysis is primarily focused on helping
the organisation and the company achieve their goals.
The extent to which a strategy is put into play might differ.
In order to set the stage for future endeavours, businesses of all stripes engage in strategic
planning. During the initial stage of the plan, called corporate strategy, executives choose
their target markets and business divisions. If you want to be successful in your target
markets, you need an effective organisational strategy. The operational strategy that every
department must participate in is provided by functional plans.
To what extent assets are distributed depends on the strategy’s many layers. Allotting
resources, whether monetary or human, depends on the company plan as a whole. The
distribution of resources inside specific departments is driven by functional-level strategy, as
opposed to business-level strategy, which influences divisional resource allocation in pursuit
of the company’s overall objectives.
Numerous strategies exist to enhance decision-making. An organization’s strategic decisions
are deliberate and in line with its long-term objectives. Each marketing strategy and plan has
to be in sync with the company’s overarching marketing strategy.
A rigorous hierarchical framework is established to evaluate performance. Key performance
indicators (KPIs) are established at all levels of the organisation to monitor the advancement
towards the overarching objectives. This allows us to consistently evaluate our procedures
and make any required modifications.
If you follow these four stages, reaching a consensus will be much easier. Employee morale
and output are both boosted when leaders at all levels acknowledge and value workers’
individual contributions to the company’s success.
One way for businesses to show they can adapt is by reviewing and revising their strategy in
response to changes in the market and technological developments. The ability to adjust is
crucial for long-term success.
Conclusion:
It facilitates the process of establishing objectives, delegating tasks, and making conclusions.
Achieving long-term success requires seamless coordination across corporate, business, and
functional functions. Business strategy seeks to increase the organization’s competitiveness,
in contrast to corporate strategy that outlines the objectives and course of action of the
corporation. In addition, the functional plan details the work that various divisions do.
In today’s uncertain economic climate, success requires a meticulous and well-planned
strategy. The organisation will be able to function in a purposeful, adaptable, and rational way
thanks to this plan. Companies operating in today’s uncertain market could find success by
employing a multi-pronged strategy. They can also speed up the process of accomplishing
their goals.
Answer 2
Introduction:
Exciting things happen when a new company is founded, especially when the business
strategy is in the works. If a group wants to achieve its goals, its members need to know what
those goals are and how to get there. The “Eco Style” online store exclusively sells eco-
friendly apparel. We need more ethical and environmentally conscious apparel options.
“To revolutionise fashion through a carefully chosen selection of stylish apparel and
accessories produced ethically and environmentally sustainably” is the aim of Eco Style.
Advocate for consumer measures that protect both industrial workers and the environment.
Use sustainable materials to lessen the fashion industry’s negative effect on the environment.
If more people knew about the benefits of wearing eco-friendly apparel, they could make
better choices. In just five years, you can master the art of sustainable clothing. Keep your
financial situation stable and honest.
Some expansion techniques include forming partnerships and gradually entering new
markets.
Results Anticipated
Environmentally, socially, and economically, sustainable buying is a win-win.
In the next two years, we want to include sustainable materials into 80% of our goods.
Find reliable vendors of eco-friendly goods and do regular audits of them to meet these
environmental standards.
To learn, one must be conscious, intelligent, and self-aware.
Make and hand out 50,000 eco-friendly clothing education materials in a year.
Blogs and social media help get the word out about companies. A celebrity collaboration is
definitely doable.
Ethics in the workplace should be a top priority for employers.
Every person or group responsible for making a product deserves fair treatment.
Audits of the supply chain and education on workers’ rights are necessary to resolve this
issue.
Partiality in the market
A three-year goal is to sell five percent more eco-friendly clothing items online.
Spend money on advertising. Maximise product accessibility and improve website user
experience.
Stay safe with your funds.
A healthy cash flow is anticipated for the initial two years.
Opt for minimal funding and diligently monitor your funds to enhance your pricing approach.
Changing Global Conditions
We need to break into two international markets within the next five years.
Doing market research may help with pricing, promoting, and acquiring clients.
When it comes to ethical fashion and business success, Eco Style wants to be at the top. With
these goals in mind, Eco Style will make strategic decisions and plan its expansion
accordingly.
Application and concept:
Every business has to establish its Vision, Mission, and Objectives (VMOs) as part of its
strategic planning process. You may be able to arrive at more prudent decisions using these
traits. The “Eco Grow” approach to sustainable urban gardening is worth looking into.
We think that we can encourage urbanisation and protect the earth for future generations by
lowering the price of locally grown and organic food.
The objective of Eco Cultivate is to assist city dwellers in growing their own food using
environmentally friendly methods of urban farming. In order to improve food safety, it is vital
to restore the relationship between consumers and suppliers.
Predicted results
Ensure the long-term viability of urban agriculture systems by making changes to them.
Prompt the locals to start an urban gardening programme. Urban regions can benefit from
consuming organic and locally sourced food.
Get a head start on securing and expanding your financial future.
Sustainable agriculture and urban farming are both promoted through public education
campaigns.
Predicted results
Modern agriculture tech innovations
Urban farms may solve food insecurity. They hope to feed 10,000 households in three years
with their farming.
Choose the most productive farming methods, locations, and land.

Environmentally friendly practises are next.

Transitioning to organic and ecologically friendly agricultural practises immediately is

For environmental protection, water-saving, crop rotation, and decomposition are essential.

Free Community Workshops

Next year, 500 city residents will engage in twice-weekly urban gardening activities.

Workshops, networking, and personalised teaching are needed.

Recall local projects

Over two years, the project will provide twenty local restaurants and businesses with regional
agricultural commodities.

Beginning company requires a solid delivery system and distribution partnerships.

By: Your cash should be accessible.

The first three years are spent building lucrative businesses.

You must invest prudently and early. Monitoring spending and possible income streams like
subscription services and local markets is important.
Choose classroom-friendly resources.

There will be weekly sustainable agricultural lessons and 5,000 unique monthly visitors by
year's end.

Share social media updates regularly. digital journal or notepad. Working with local groups
allows us to provide more instructional resources.

Eco Glow considers its purpose, vision, and goals while making decisions. The mission
statement outlines the company's values and goals. The mission statement includes long-term
organisational goals. Eco Grow wants to create thriving urban communities. These aims and
suggestions help them achieve that goal. Decision-making, resource allocation, and long-term
planning will be rigorous.

Conclusion:

Setting and achieving objectives is crucial for well-run businesses. This paper outlines the
organization's objectives and plans. It helps achieve several important goals. A startup's
mission and vision should be clear to lead it. Organisational culture and values can be
influenced via workplace socialisation. List your goals. Long-term corporate success depends
on important investments. The SMART framework requires “specific,” “measurable,”
“attainable,” “relevant,” and “time-bound” goals. Results may be tracked and corporate
responsibility promoted. Our mission and goals guide all our decisions. These elements are
crucial to the company's strategy, new products, and goals. Several groups have discussed
these statements. For a startup to flourish, its members must share its mission. Following the
strategy framework can lead to success and growth. A company may stay true even as the
market changes.

Answer 3(a).
Introduction:
A solid marketing strategy or business plan is built upon a solid grasp of consumer
preferences, market expectations, and requirements. By analysing this data, companies may
enhance their marketing, customer service, and product development strategies to better cater
to their target market. In this study, we’ll investigate potential uses of these concepts in the
shoe business.
Concept and Application:
Crucial prerequisite
In order to be alive, healthy, and satisfied, a person has what are called “needs.” It is critical
to protect people’s health and safety.
The footwear business places a premium on footwear that is both comfortable and protective.
To safeguard your feet against hazards such as sharp objects, rough terrain, and unfavourable
weather, it is crucial to wear the appropriate footwear. If you stand or walk for long periods of
time on a regular basis, you should wear shoes that support your feet.
An intense desire to
“I want” is a way to talk about anything that would make our lives better, but it’s not essential
for our existence. The reputation, practises, and conventions of a service or product have a
significant impact on its demand.
Shoes in Daily Life Which shoes a consumer chooses to purchase is dependent on their
individual tastes and hobbies. The brands, designs, and styles that people choose to wear may
tell you a lot about their character, interests, and even their social status. Shoes with an eye
for style, like heels or trainers, may serve several purposes and look good doing it.
Demand is the quantity of a commodity or service for which consumers are prepared to pay a
specific price.
If a service or good is in great demand among well-off consumers, we say that it is “highly
demanded.” Price, advertising, and consumer opinion are a few of the factors that could make
or break a product. Additionally, the customer’s interests and objectives are considered.
The footwear industry is driven by the need for footwear that is both beautiful and functional.
Numerous variables, including customer familiarity with the brand, budgetary restrictions,
and fashion trends, might influence shoe sales. There may be an uptick in sales if people
think they need heated and waterproof shoes for the winter.
Conclusion:
If shoe producers could grasp the concept of supply and demand better, they could be able to
cater to their target consumer more effectively. When selecting footwear, it’s crucial to think
about style, aesthetics, and personal preference. While practicality and security are essential,
they serve a more fundamental function as well. Good shoe manufacturers and brands pay
attention to these details and strive for a happy medium to meet the demands and preferences
of their consumers. Companies who provide fashionable shoes that are both functional may
see an uptick in sales and repeat business from this demographic.
Answer 3 (b)
Introduction:
The ability to sell oneself well is crucial for restaurants to maintain profitability. Marketing is
a wide-ranging concept that includes many things that influence the customer’s journey. It is
more than just advertising food. The 7Ps paradigm adds people, process, and physical
evidence to the traditional 4Ps model. Using the made-up “Gourmet bistro” as an example,
the following discussion examines the seven components of effective marketing.
Concept and Application:
This product has been the subject of some criticism.
You may examine their essential qualities by sorting the alternatives. The menu at a
restaurant usually has many different options in terms of appearance, taste, and texture.
Gourmet Bistro offers a diverse selection of appetisers, desserts, and main courses. Elegant
presentation, high-quality ingredients, and innovative cooking methods are the restaurant’s
greatest achievements.
How much is this item?
Customers’ willingness to pay and the meal’s perceived worth both have a role in determining
the price.
The Gourmet Bistro is known for its high-quality cuisine and hence charges more than its
more casual franchise restaurants. To attract new consumers, businesses often run limited-
time promotions, such as sales and discounts.
Things are looking up
The “location” refers to the actual place or set of circumstances where a company offers its
wares and services to the general public.
Located in the middle of the city, in a lively and busy neighbourhood, the restaurant’s food is
bound to be better. With the help of its own and third-party suppliers, the restaurant provides
online booking platforms and food delivery services in an effort to make its customers
happier.
Any strategy that aims to sway or pique consumers’ attention is considered a promotion.
The term “promotional strategy” describes the overarching plan that a restaurant has for
promoting itself and bringing in new customers.
When advertising their restaurant, Gourmet Bistro employs both time-honored and innovative
methods. Collaborations, food bloggers, and sample events are also part of the advertising
strategy, in addition to electronic contact and social media.
Who is this relevant for?
Many customers mistake their fellow diners for waiters and hostesses. Relationship building
and service provision are of equal importance.
Professionalism and optimism are hallmarks of the staff at fine dining establishments. To
ensure that every diner has an exceptional experience and receives 5-star attention, stewards
undergo comprehensive training that goes beyond just food suggestions.
The steps are as follows:
“Process” refers to the series of actions taken to provide a consistent, convenient, and fast
meal.
Gourmet Bistro has upgraded its kitchen and service to guarantee punctual food delivery and
outstanding customer service. There have been enhancements to the reservation, payment,
and ordering procedures.
Concrete facts are the focus of the conversation.
Many things besides the quality of the cuisine and service determine a restaurant’s reputation.
A restaurant’s ambiance, decor, and furnishings will play a role in this.
The proprietors of Gourmet bistro spared no effort in creating an elegant and inviting setting
where patrons could unwind and savour their meals.
Conclusion:
Following the 7Ps is the foundation of Gourmet Bistro’s restaurant marketing strategy.
Fantastic cuisine, reasonable prices, dedication to location, advertising, and staff, and
thorough procedures and records all contribute to Gourmet Bistro’s goal of providing each
customer with an enjoyable and memorable eating experience. In order to stand out in a
highly competitive industry, food service organisations might consider creating a marketing
plan.