For Grant Enterprises new product, I think that they will find strategic planning, marketing function and decision making very useful for their meeting. Strategic planning is will help this corporation to learn how to develop how to distinguish themselves from their competitors (Sawyers, R., Jackson, S., & Jenkins, G. J, 2012). Marketing will have the company get there name out to the public, and decision making will require the company to put their best foot forward. Each one of these factors can have a major impact on developing a new product line for your business.
Strategic planning is where you determine what sets your business apart from everyone else. For example, if Grant Enterprises created natural hair products, they must produce a strategy that is different for the natural hair vendor that is called As I Am. Quality is everything. People will always quality over quantity. Starbucks is one of the top coffee shops in the world. A lot of people would wait in a long Starbucks line instead of getting a …show more content…
Marketing will help you determine your prices, how to promote your new product and how to sell your product in the market (Sawyers, R., Jackson, S., & Jenkins, G. J, 2012). I, personally, think that marketing is the most important tool for any new product line. In order to get your product to sell, you have to market your product. Having good marking skills is very important. Marking brings exposure to your product, and without the proper exposure, your product will not sell. Lastly, there has to be good decision making. Poor decision making can cause your vision to fail. "Decision making is the process of identifying alternative courses of action and selecting an appropriate alternative in a given decision-making situation" (Sawyers, R., Jackson, S., & Jenkins, G. J, 2012, p. 9). It is very important to make the best decision that can have a positive monetary impact on your new
Strategic planning is where you determine what sets your business apart from everyone else. For example, if Grant Enterprises created natural hair products, they must produce a strategy that is different for the natural hair vendor that is called As I Am. Quality is everything. People will always quality over quantity. Starbucks is one of the top coffee shops in the world. A lot of people would wait in a long Starbucks line instead of getting a …show more content…
Marketing will help you determine your prices, how to promote your new product and how to sell your product in the market (Sawyers, R., Jackson, S., & Jenkins, G. J, 2012). I, personally, think that marketing is the most important tool for any new product line. In order to get your product to sell, you have to market your product. Having good marking skills is very important. Marking brings exposure to your product, and without the proper exposure, your product will not sell. Lastly, there has to be good decision making. Poor decision making can cause your vision to fail. "Decision making is the process of identifying alternative courses of action and selecting an appropriate alternative in a given decision-making situation" (Sawyers, R., Jackson, S., & Jenkins, G. J, 2012, p. 9). It is very important to make the best decision that can have a positive monetary impact on your new