Go Furniture 1 Go Furniture! Beth Shelton, Jennifer Rambow, Mykel Waldon, Sandra Carillo, Shawn Boskie Grand Canyon University: BUS-485 8/12/18 Go Furniture! 2 Go Furniture! is a new company that offers customers high quality furniture that can be moved without having to call someone to come and help. Our furniture has built-in wheels and motor that allow users to move the pieces effortlessly. Furniture that is able to move around with a control will help so many people, especially the seniors and others without fear of injury. Whether it is to clean, rearrange, or make room for other pieces, Our furniture can be moved with no help. When the move is done, the wheels disappear into the furniture. The Nature of Business Opportunity Developing a successful business is based on a critical analysis of the underlying gaps in the market. The business opportunity, in this case, will be found within the furniture industry where the business will focus on the manufacture of modernized furniture that will be controlled by remote control to ensure ease in movement as well as different design. The business will focus on bringing a unique experience to the furniture industry- targeting both home and office. The critical focus on technology is a strategic aspect, which is essential in defining a thriving business environment. The first phase of development into the market will focus on the furniture industry followed by targeting middle and upper-class income earners who are willing to have a different experience in their homes as well as offices. Initially, the company will integrate several marketing and B2B partnerships to reach target markets followed b mainstream media. The market is ready for a highly organized business that is sure to challenge the old guard with product vision and diversity. Vision and Mission Go Furniture! wants to transform how our customers look at their home. By providing a large selection of high quality stylish furniture with safety features built in for easy moving and Go Furniture! 3 minimizing physical risk; all at a reasonable cost. Our mission is to make our customer lives easier and safer. Strategy Furniture Go! will utilize a three-phase strategy to unite its mission and vision with operational growth and captured market share. The first order of business for our firm is to establish a foothold in the market by earning the confidence of the furniture manufacture and sales community by serving to meet unique industry needs. Sales teams for Pottery Barn, Ethan Allen, Costco and others will benefit from Go Furniture!. Our advanced technology allows for the movement of furniture in warehouses and sales floors by saving heavy labor costs and allowing sales and design center teams to stage quickly and effortlessly. The ability to work quickly and effectively saves time (and money). The second tier of our strategy will allow consumers to experience the benefits of Go Furniture!. Third-party manufacture and inventory warehousing will allow the firm to make products available directly to consumers. An integrated marketing plan to utilize social media, revenue sharing partnerships, direct response, and television/radio will raise public awareness and demand. By making an early splash in a realm few customers have realized may have inhibited their home life experience. Finally, Go Furniture! will expand sales through an expanding product line,employee force, and opening stores in major markets before evaluating expansion into smaller markets. The innovative and affordable product offers a value to customers across the spectrum of home lifestyle industry. Go Furniture! 4 References (future orientation) Bremmer, I. (2014). The new rules of globalization. Harvard Business Review, 92(1), 103-107. Buciuni, G., & Micelli, S. (2014). Rethinking the role of manufacturing in global value chains: an international comparative study in the furniture industry. Industrial and Corporate Change, 23(4), 967-996. Cuervo-Cazurra, A., Ganitsky, J., Luo, Y., & Mezias, J. (2016). Global Strategy and Emerging Markets. AIB Insights, 16(4), 3. Desai, J. (2013). Innovation engine: Driving execution for breakthrough results. You must read each part and follow the instructions for each part. I will attach additional documents to help complete the parts if needed Part one This part is a group assignment so only do what I highlight and make sure to include references This is a Collaborative Learning Community (CLC) assignment. Using the Segments of the General Environment, write the environmental analysis for your organization developed in Topic 1 (a minimum of 500 words). Refer to Chapters 2 and 8 in the textbook for additional information. Include the following in your draft: 1. 2. 3. 4. Incorporate the Five Forces of Competition to help write the industry analysis for your organization (Chapter 2, Figure 2.2 The Five Forces of Competition Model). Describe your sources of competitive advantage. Using the Modes of Entry and their Characteristics (Chapter 8, Figure 8.5), describe which mode(s) of entry you would use to expand globally and why you selected it (even if expansion is hypothetical at this time). Select one country, such as Canada, and discuss relevant cultural, political, and economic factors, and any language barriers that could impact your entry. Using the Parts of the External Environmental Analysis (Chapter 2, Figure 2.1 and Table 2.2), identify the outlook, forecast, or trends for the type of organization you have selected. Part 2 Please only do the bullet that is highlighted write about 500 words and add a references for the bulletin The topic is Maybelline makeup that would be a great cosmetic market Assignment Steps Scenario: You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products. Research an organization and a product produced by that organization in which an analysis can be conducted. Write a 1,750-word analysis of the current market conditions facing your product, making sure you address the following topics: • • • • • Define the type of market in which your selected product will compete, along with an analysis of competitors and customers. Analyze any comparative advantages and international trade opportunities. Explain the factors that will affect demand, supply, and prices of that product. Examine factors that will affect Total Revenue, including but not limited to: o Price elasticity of demand o Factors that influence productivity o Various measures of costs, including opportunity costs o Externalities and government public policy and their effect on marginal revenue and marginal cost Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product. The information needed and figure 2.2
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