Analyzing The Implications and Implementations of a Strategic Plan
Purpose of the strategic plan
The strategies included service automation, the introduction of company e-commerce, improved customer support, increased marketing, and the acquisition of other businesses. The purpose of the strategic plan included the following:
To help the company enter new markets by acquiring other businesses and improving product delivery to the new and existing regions. The second purpose is to help the company attract new customers and enter new markets through improved marketing activities to improve the brand image and customer awareness about the product. The third purpose is to help the company improve consumer services to retain and attract customers.
Key objectives of the strategic plan
The key objective of the strategy is to help the company increase its sales by increasing market coverage, marketing, and business growth.
The second objective was to improve customer services through fast product delivery services and improved customer support services.
Since the company was already operating in other markets, entering these new markets should not have been challenging. However, creating resources to serve these new markets will be a challenge due to the time and financial demands to serve the new markets (Vemulapalli, 2019). Therefore, the strategy was to acquire the companies already in the market then use them as the distribution channels for the company products in the new region.
The acquisition strategy fits the business needs since the company will spend fewer resources on marketing and promoting brand awareness and reputation in the new markets. However, there is a need for more marketing in the new regions to improve customers’ awareness about the new products, benefits, and the company offering the product.
The main processes that require improvement include the company’s marketing focus, service delivery, and new customer support services. Improving marketing processes requires shifting to digital marketing strategies such as local SEO, social media marketing, affiliate marketing, and paid ads. These strategies require new staff with knowledge in digital marketing to help the company. The second process improvement was to improve the product delivery process. The best solution is e-commerce to enable users to order products online. Improving product delivery processes also involves fast delivery and developing a reliable e-commerce website (Cambra-Fierro et al., 2015). Improving customer support requires developing multiple channels for communicating with the customers.
Development of people
The main development is training. The employees need to be trained on new aspects such as additional customer support channels, e-commerce platforms to supporting customers, and tracking customer shipments. There is also a need to motivate the employees to help achieve the new plans. The motivation can be through bonuses and awards. Finally employing new staff to help the existing employees achieve the new strategies.
Improving Product/service quality
Improved delivery process over time will require improving the shipment days. Currently, it takes 2-3 days to deliver customer orders; in the future, it should take 24 hours. The second improvement is an instant response to customer needs whenever they request support services.
Key performance indicators
The key performance indicators should include the sales and revenue generated by the new markets.
The customer review and comments after customer service support services. Reviews after product delivery are complete.
The number of individuals seeing company adverts.
Cambra-Fierro, J., Melero, I., & Sese, F. J. (2015). Managing complaints to improve customer profitability. Journal of Retailing, 91(1), 109-124.
Vemulapalli, K. V. (2019). Adapting management strategies to enter new global markets. Journal of international business studies, 35(5), 350-370.