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Research about creating new product. Choosen the topic is Henna remover which is like a body scrub that removes henna that will be invented by ( Clarins cosmetics). Provide answer to strategic focus and plan part which is:

Strategic Focus and Plan sets the strategic direction for the entire organization.

One approach to crafting a strategic focus is as the following:

Mission/Vision

The Mission/Vision statement is a qualitative statement that specifies the markets in which a business will compete. A mission statement can dramatically affect the range of a firm's marketing activities by narrowing or broadening the competitive playing field. An effective mission statement must be clear and direct.

Goals

The Goals section of a marketing plan sets both financial and non-financial SMART objectives. Goals should be in quantitative terms, whenever possible, to facilitate measuring the company's future performance.

An example of a non-financial goal: "It is recommended that XYZ Inc. diversify its product lines to achieve 50 percent of sales revenue in non-tobacco products in the next five years."

An example of a financial goal (note it is specific and measurable): "It is suggested that XYZ Inc. increase sales from $10 million in 2000 to $15 million in 2012."

Core Competency and Sustainable Competitive Advantage

Competencies determine the means for achieving the organization's mission and objectives.

An example of a competitive advantage: "McDonalds' competitive advantage is its large number of restaurants, more than double its competitors, making it more convenient for customers than any other fast food restaurant in the world."

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M92062911

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