Access over 20 million homework & study documents

search

Strategy Formulation

Content type
User Generated
Rating
Showing Page:
1/5
Running head: STRATEGY FORMULATION 1
Strategy Formulation
Student’s Name
Institution Affiliation

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/5
STRATEGY FORMULATION 2
Strategy Formulation
SMART strategies are paramount in attaining success in all oragnization. Generally,
successful strategies are usually simple, measurable, attainable, realistic, and timely. With this in
mind, I will formulate strategies that are both attainable and suitable to my market. The strategies
that I will develop in order to have a competitive edge are shown below.
High Quality and High-Performance Sensors
I will introduce high-quality and high-performance sensors that will be suitable to use in
various products. In addition, these sensors will require little modifications in order to meet the
unique needs of customers, which will make them adaptable to each market segment. The need
for little modifications will ensure these sensors can be customized for each market segments.
The research and development department will be used to identify parts of the sensor and
packaging material that are suitable for each market.
Research and Development (R&D)
Through R&D, I will develop high quality but affordable products. Through research, I
will be able to manufacture high-quality products using high-grade materials and software by
harnessing on the minds of the most talented in the industry. It also enables an organization to
analyze the market and develop products that suit each market segment, in terms of performance,
price, and quality. In order to achieve this strategy, I will develop a research and development
department that will advise on the products to deliver, as well as the prices and on how to react to
market changes.
Marketing
I will use a customer-based marketing tactic in order to arouse the interest of potential
buyers. To achieve this goal, the marketing will inform current and future clients on the available

Sign up to view the full document!

lock_open Sign Up
Showing Page:
3/5

Sign up to view the full document!

lock_open Sign Up
End of Preview - Want to read all 5 pages?
Access Now
Unformatted Attachment Preview
Running head: STRATEGY FORMULATION Strategy Formulation Student’s Name Institution Affiliation 1 STRATEGY FORMULATION 2 Strategy Formulation SMART strategies are paramount in attaining success in all oragnization. Generally, successful strategies are usually simple, measurable, attainable, realistic, and timely. With this in mind, I will formulate strategies that are both attainable and suitable to my market. The strategies that I will develop in order to have a competitive edge are shown below. High Quality and High-Performance Sensors I will introduce high-quality and high-performance sensors that will be suitable to use in various products. In addition, these sensors will require little modifications in order to meet the unique needs of customers, which will make them adaptable to each market segment. The need for little modifications will ensure these sensors can be customized for each market segments. The research and development department will be used to identify parts of the sensor and packaging material that are suitable for each market. Research and Development (R&D) Through R&D, I will develop high quality but affordable products. Through research, I will be able to manufacture high-quality products using high-grade materials and software by harnessing on the minds of the most talented in the industry. It also enables an organization to analyze the market and develop products that suit each market segment, in terms of performance, price, and quality. In ord ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
This is great! Exactly what I wanted.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4