Description
About Your Signature Assignment
Signature/Benchmark Assignments are designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. Signature/Benchmark Assignments are graded with a grading guide or an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for course/program improvements.
Purpose of Assignment
The purpose of this assignment is to assess marketing concepts and situations from an entrepreneurial manager's point of view. Concepts and relationships are discussed with a special focus on aligning one's ethics and values with their business actions and understanding the unique differences in marketing strategy planning for domestic business versus business abroad.
Assignment Steps
Resources: Marketing: Ch. 7: pg. 177-191; Ch. 16: pg. 438-440; Week 5 video
Scenario: Imagine you are an entrepreneur launching a business planning to operate both domestically and abroad. You are currently developing your marketing plan and strategies.
Develop a 1,050-word analysis addressing the following:
- Describe your organization's mission, vision, and values.
- Explain how these values will be aligned to your own personal brand identity, ethics, and values when doing business, planning strategies, and solving problems.
- Discuss at least two concepts from class that are elements of a marketing plan and are important tools to your entrepreneurial business' success. Discuss how the concepts help align the organization's values with your values. Explain the reasoning leading to these conclusions.
- Select two of the following departments and explain marketing's role in coordinating their distinct functions:
- Distribution
- Customer Service
- Advertising and Public Relations
- Research and Design
- Sales
- Operations or Manufacturing
- Compare and contrast how culture is likely to impact domestic marketing strategies versus what the company may encounter when doing business abroad such as cultural norms, economics, politics, and legal systems.
- Explain the actions the company can take to ensure that it evolves with the target at home and the countries it does business in.
- Discuss any emerging marketing trends that may affect your business.
Cite a minimum of two peer-reviewed sources with one being from either the text, video material, or the University Library.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
Explanation & Answer
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Running Head: ENTREPRENEURIAL BUSINESS PLANNING
Entrepreneurial Business Planning
Author’s Name
Institutional Affiliation
Date
1
ENTREPRENEURIAL BUSINESS PLANNING
2
Entrepreneurial Business Planning for My Drink (Imagined) Company
An organization’s values, vision, and mission make its direction toward the success.
When the organization follows the vision, values, and mission to the letter, it will significantly
attain its objectives. Therefore, a significant role is played by the vision, values, and mission in
determining any organization’s success. Consequently, I am determined as an entrepreneur for
opening a popular business just like Starbucks. The name of the organization would be “My
Drink,” and it will operate within and beyond the USA. Entrepreneurially, once the business
name has been selected, developing a strategy of marketing is equally significant because it can
push the business toward the success.
Mission Statement
The mission statement of the business is aimed at making sure that the every customer
gets its’ money value (Cady et al, 2014). Thus, the statement of the mission is to make such
product that does not become the reason of any harm but satisfies the customers for their
money’s value realization.
Mission Statement Analysis
Making the product- It indicates that the focus of My Drink would be on providing the
best quality coffee and it would attract the beverage consumers. There is a very strong reputation
of Starbucks within the beverage market, and “My drink” here comes for challenging it by
providing the best quality coffee. For making coffee, the organization would import certain highgrade coffee, from overseas and America. Certain countries in Africa are recognized for making
higher-grade coffee, consequently, upon the expansion of the business to the continent, the
locally produced coffee would be used. My Drink, in brief, would do the best for offering cheap
coffee to the customers with great quality as compared to its competitor Starbucks.
ENTREP...
