Marketing Strategy and Plan StratSynth Group †Free Samples

Question: Discuss about the Marketing Strategy and Plan StratSynth Group. Answer: Introduction In the context of this research paper, a new business or corporation would be formed in order to fulfill the aims and objectives of the study. In addition to this, the name of the new business would be StratSynth Group that would provide essential life support items to the public. The new corporation would be not-for-profit organization and would be funded by the Giving Pledge. The main mission for the company would be to enable the acquisition, delivery, and operation of essential life support items. In addition, in order to effectively establish the corporation in the East African market, the PESTLE analysis, porter five force models, resources and capability analysis would be conducted. On the other hand, five main organizations of the same industry would be identified along with their Resources and Capabilities. Along with this, Melinda Gates' interests would be addressed in the firms producing the Pouncer Drone. Finally, an organizational structure and mission statement for the Systrat Group would be developed. All these are the key and fundamental objectives of the study that would be attained during the study of this research paper by using secondary method of data collection. Background to the Situation On the basis of given case, it is analyzed that, Melinda Gates Priscilla Chan are the two individuals who recently attended a World Advancement conference. In the conference, different important things about the information technology, aid delivery, education and engineering firms have showed their products for the utilization in the growth, success and advancement of infrastructure in rising nations. Both the individuals were more excited and interested in steadying rising nations and enabling Project Loon as a technique of sharing information and advancing these nations.Both are interested in forming a new company with mission to enable the acquisition, delivery, and operation of essential life support items. The new company was formed namely StratSynth Group and know as a non for profit firm. The first objective of the firm is to address the East African Drought Crisis. The mission of the new company is to meet future requirements in flood and disease stricken areas, or areas tha t have been disadvantaged by decades of warfare or economic denial (Verhoef, and Lemon, 2013). PESTEL Analysis It is also known as macro analysis or external environmental analysis that would help the new company to access its external situations. With the help of this analysis, StratSynth Group would be able to identify and address the future trends. Political: StratSynth Group would conduct their operations in the East Africa and the political situation of the nation is not stronger and effective than others. The political environment of East Africa would not be able to offer specific administrative support to StratSynth Group to establish new organization. In the same way, several poltical factors within the African market may influence the strategies and decisions of the StratSynth Group. For case, tax changes, new laws, trade barriers, and changes in government policy etc are the key factors that may adversely or negatively affect the success of StratSynth Group (Mohana, 2011). Economic: The economic situation of the East Africa is not effective and stronger due to continues decreases in the GNP and GDP, currency value of the nation. So, the economic situation would not be supportive to the StratSynth Group to start the organization. Socio-cultural: There are several social and cultural factors that can affect the success of StratSynth Group such as educational level, life style and income level. So, StratSynth Group has to consider all the types of socio and cultural forces. Technological: StratSynth Group would have to invest money in the new information systems, tools and technologies in order to run the companys operations more effectively and successfully in the East Africa (Beamish, and Ashford, 2012). Legal: StratSynth Group would have to follow strict rules, standards, norms and regulations proposed by the government of East Africa to regulate and control activities and operations. Environmental/Ecological: StratSynth Group would have to adopt and develop eco friendly policies and methods to run the operations of company effectively. It may affect the cost of the new firm. Five Forces Analysis This analysis would help to access the strengths and weakness of the competitors. Suppliers Bargaining Power: In the healthcare sector of East Africa, there are a number of small and large suppliers that are offering essential life support items. This indicates that, StratSynth Group has to maximize its resources to attain the key objective of the new company and achieve goals related to East African Drought Crisis . Industry Rivalry: It is accessed that, various nonprofit organizations, social organizations and others organizations are working in the industry by offering similar products and services. So, StratSynth have to face tight competition in the market (Slotegraaf, 2012). Threat of new Entrants: In the current time, most of small and medium sized companies are entering into the industry for the social support and welfare. So, StratSynth have to develop strong distribution channel in order to compete and survive in the market. Buyers Bargaining Power: In the current time, a wide range of essential life support items or products are available within the East African Health care industry so the users of essential life support items could change their minds with the immediate effects (Chesbrough, 2010). Threat of substitutes: As it is analyzed that, various non profit companies are working in the industry that offering similar essential life support items. So, StratSynth have to offer quality items and innovative services to compete in the market (Reid, and Bojanic, 2009). Business Level Resources and Capabilities StratSynth group would need to arrange a number of resources and require core capabilities in order to fulfill the mission, vision and long term objectives of the organization. For example, different sources such as: land, staff, employees, accountants, sales people, information systems, capital, management etc would be required by StratSynth group. On the other hand, StratSynth group would have to develop innovative organizational culture, operational procedures, technology, high-level marketing and management skills and core competencies as a means of core Capabilities to become success in the market (Team, and Markovic, 2006).. Identification of five Organizations Along with their Resources and Capabilities The following table indicates the major companies/organizations that offering essential life items in the East African industry. Organizations Resources Capabilities Cochlear Brand reputation Innovative tools and technology Lumenis Technology based equipments High technology BASE Pharma Strong Infrastructure Good product design quality Teleflex Medical Financial Capital Insight knowledge Ellex Number of talented people High design and production skills In addition to this, all these resources and capabilities must be generated by the StratSynth group in order to attain long term goals and compete in the market for the long time period. On the other hand, it would be more important for the StratSynth group to effectively explore these resources and capabilities not only to improve productivity but also gain competitive advantages over the competitors. This would help the organization in supporting its core organizational functions and operations effectively. These would also motivate the employee to attain their organizational task more effectively and innovatively. Hence, in order to gain tangible and intangible benefits, StratSynth group should include such resources and capabilities. On the other hand, it is also important for the company that it should also focus on different modes such as joint venture, equity alliance in order to gain the advantages of such core capabilities and resources in an effective and proper manner. Fo r example, StratSynth group could develop partnership with other companies by entering into a joint venture agreement (Teece, 2010). Address Melinda Gates' interests in the firms producing the Pouncer Drone, On the basis of case analysis, it is Melinda Gates is fully interested in producing several items. So, firms should use different level of corporate strategies in order to develop strong relationships with others. For case, growth, focus, differentiation strategies must be used as corporate level strategies in order to attain long term goals of the firm. Organizational Structure The following below given organizational structure would be proposed for the StratSynth group. Role statement and Rationale: General Manager: The general manager of StratSynth group would be responsible to manage all the people of the organization by offering them specific guidelines and instructions. Finance Manger: A finance manager would play key role in managing all the matters related to finance, auditing and accounting. Human Resource Manger: An HR manager would hire, recruit, select, and motivate the employees of the company (Teece, 2010). RD Manager: The Research and development manager would conduct research in the market and provide specific recommendations to attain the objectives. Operation manager: He or she would be responsible to improve business operations of the firm by using business or corporate level strategies (Koontz, 2010). Product/marketing Manger: The marketing manager would develop marketing and promotional methods to sell and promote the product in the market. Vision and Mission Statement Vision Statement: The main vision of StratSynth would be to build a place where people can come to find essential life support items by establishing long term recovery and rehabilitation for stricken nations Mission Statement: The mission statement of StratSynth would be to design an organization to meet not only the current Chan directive, but to meet future requirements in flood and disease stricken areas, or areas that have been disadvantaged by decades of warfare or economic denial. Positioning Statement: To offer essential life support items or products to the right people with the right need at the right place (Chesbrough, 2010). Conclusion On the basis of above discussion, it can be concluded that, before starting any new business or forming organization, it is important to develop and create a formal business plan for the overall success. Moreover, both internal and external business environment should be examined in order to become success. References Beamish, K. and Ashford, R. (2012). CIM Coursebook 07/08 Marketing Planning (4th ed.). UK: Routledge. Mohana, R.P. (2011). Financial Statement Analysis and Reporting. USA: PHI Learning Pvt. Ltd. Slotegraaf, R. J. (2012). Keep the door open: innovating toward a more sustainable future. Journal of Product Innovation Management, 29(3), pp. 349-351. Team, V., and Markovic, M. (2006). Internet advertising of artificial tanning in Australia. European journal of cancer prevention, 15(4), pp. 371-376. Teece, D. J. (2010). Business models, business strategy and innovation. Long range planning, 43(2), pp. 172-194. Chesbrough, H. (2010). Open services innovation: rethinking your business to grow and compete in a new era. USA: John Wiley Sons. Koontz, H. (2010). Essentials Of Management (8th ed.). USA: Tata McGraw-Hill Education Private Limited. Mohana, R.P. (2011). Financial Statement Analysis and Reporting. USA: PHI Learning Pvt. Ltd. Reid, R.D. and Bojanic, D.C. (2009). Hospitality Marketing Management (5th ed.). USA: John Wiley Sons. Teece, D. J. (2010). Business models, business strategy and innovation. Long range planning, 43(2), pp. 172-194. Verhoef, P. C., and Lemon, K. N. (2013). Successful customer value management: key lessons and emerging trends. European Management Journal, 31(1), pp. 1-15.