1 Introduction
Tectona Corporation focuses on mid-range furniture. The company manufactures, produces, designs and markets all of their furnitures by using teak wood. Tectona incorporates sleek and elegance in their furnitures to suit the market.Tectona is known for modern architectural designs for various types of furniture and its simplicity in designs. Tectona started out in 2010, when the economy was at it’s peak. There, Tectona made booming sales. It has factories across the world of which includes those in India and Vietnam. Tectona just opened up in Singapore and is having fierce competition in the local market. The company does a lot of on-site and online selling through the use of social media such as Facebook, Twitter and also through …show more content…
b: Intangible Resources
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Reputation : Tectona have only been in the market for 4 years, making them new in compared to other firms that are found in the same sector. Tectona has very minimal publicity and presence in the market. Tectona’s lack of publicity and brand awareness has caused them to lose out customers to stronger competitors. The current GM sees this as a challenge and he plans on increasing Tectona’s brand awareness to reach out to at least 20% of their current customers.
• Technology : As Tectona is relatively new in the business, we are to invest more in patents and copyrights . These can be used to create a sustainable advantage.
• Human Capital: Though not all employees have furniture business skills in them, we believe that each and every one of our employee is important as they are able to bring in skill, knowledge and reasoning that can be useful to the firm one way or another. We harness very much on human resources as we can collaborate with them to support the company's mission.
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Firm's …show more content…
However, this method is only effective if the company has a strong brand awareness.The current GM insists on using Direct Marketing.The changes in society have made consumers more receptive to direct marketing. Through this, the messages transmitted by Tectona is able to be made to specific customers. He insists on incorporating Direct Marketing with Public Relations as it is a strong way of interacting with consumers and and increasing sales.
Activities that need to be performed by divisions:
•
Marketing and sales division is to work together to push sales in Tectona through the use of direct marketing such as emails, text messages and insert media. Special promotional pricing are to be included in the materials as to attract customers.The response rate of customers is expected to be high.
•
Marketing division is to increase brand awareness through the use of social media such as Facebook, Twitter and Youtube. Under the previous GM, marketing division did minimal brand awareness. Current GM is to use social media to increase brand awareness as majority of the community uses the Internet daily. The use of interactivity is to be included. Marketing division is to plan out Public Relations Events promote Tectona.
Tectona Corporation focuses on mid-range furniture. The company manufactures, produces, designs and markets all of their furnitures by using teak wood. Tectona incorporates sleek and elegance in their furnitures to suit the market.Tectona is known for modern architectural designs for various types of furniture and its simplicity in designs. Tectona started out in 2010, when the economy was at it’s peak. There, Tectona made booming sales. It has factories across the world of which includes those in India and Vietnam. Tectona just opened up in Singapore and is having fierce competition in the local market. The company does a lot of on-site and online selling through the use of social media such as Facebook, Twitter and also through …show more content…
b: Intangible Resources
•
Reputation : Tectona have only been in the market for 4 years, making them new in compared to other firms that are found in the same sector. Tectona has very minimal publicity and presence in the market. Tectona’s lack of publicity and brand awareness has caused them to lose out customers to stronger competitors. The current GM sees this as a challenge and he plans on increasing Tectona’s brand awareness to reach out to at least 20% of their current customers.
• Technology : As Tectona is relatively new in the business, we are to invest more in patents and copyrights . These can be used to create a sustainable advantage.
• Human Capital: Though not all employees have furniture business skills in them, we believe that each and every one of our employee is important as they are able to bring in skill, knowledge and reasoning that can be useful to the firm one way or another. We harness very much on human resources as we can collaborate with them to support the company's mission.
•
Firm's …show more content…
However, this method is only effective if the company has a strong brand awareness.The current GM insists on using Direct Marketing.The changes in society have made consumers more receptive to direct marketing. Through this, the messages transmitted by Tectona is able to be made to specific customers. He insists on incorporating Direct Marketing with Public Relations as it is a strong way of interacting with consumers and and increasing sales.
Activities that need to be performed by divisions:
•
Marketing and sales division is to work together to push sales in Tectona through the use of direct marketing such as emails, text messages and insert media. Special promotional pricing are to be included in the materials as to attract customers.The response rate of customers is expected to be high.
•
Marketing division is to increase brand awareness through the use of social media such as Facebook, Twitter and Youtube. Under the previous GM, marketing division did minimal brand awareness. Current GM is to use social media to increase brand awareness as majority of the community uses the Internet daily. The use of interactivity is to be included. Marketing division is to plan out Public Relations Events promote Tectona.