If you are starting the online arm of a traditional store, should you make any changes to the company’s overall mission statement?

If you are starting the online arm of a traditional store, should you make any changes to the company’s overall mission statement?

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December 22, 2020
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Throughout the rest of this book, these end-of-chapter marketing plan exercises will help you build a strategic marketing plan for a company of your choosing. The company you choose should be one that interests you, such as the manufacturer of your favorite product, a local business where you would like to work, or even a business you would like to start yourself to satisfy an unmet need or want. Once you’ve completed the marketing plan exercise for each chapter in Part 1 of this text-book, you can complete the Part 1 Marketing Planning Worksheet on your companion Web site at www.cengage.com/marketing/lamb. Use the following exercises to guide you through the first part of your strategic marketing plan:
 
Write the mission statement of your company, keeping in mind the benefits offered to customers rather than the product or service sold. If you are starting the online arm of a traditional store, should you make any changes to the company’s overall mission statement?

 

Answer and ExplanationSolution by a verified expert

Explanation

Situation Analysis.
Primarily, the core business is provision of mobile devices and consumer smartphones based on skills in producing high quality and durable devices. Thus, this market plan is based on providing consumers with a high quality and innovative iPhone.
Key Objectives.
The major objectives of this is to increase sales and create awareness of the products in both existing and new markets.
Key Strategies.
Niche marketing and societal marketing strategies will be utilized to reach the target market in Asia, Middle East and Africa where the market has potential.
Market Analysis.
The market is an early market with potential customers. Most of the developing countries are embracing the use of technological devices hence this makes them idea target audience.
Brand Essence.
Our brand is associated with quality products that offer the patient experience to customers due to its unique features that cannot be imitated in the market.
Positioning.
Brand positioning will be based on low prices for quality products. This will allow consumers in the target markets with low purchasing power to purchase the products due to its affordability.
Competitive Analysis.
The industry is characterized with many key players offering mobile devices at cheaper prices. For instance, Huawei and Techno have dominated markets in developing countries due to their affordability.
SWOT Analysis.
Strength.
·         Innovative production of quality mobile phones across the globe.
·         Experience in distribution channels for mobile phones.
Weaknesses.
·         Lack of experience in distribution high quality products in developing countries.
Opportunities.
·         Large market share.
·         Presence of emerging markets.
Threats.
·         Stiff competition from other phone manufacturers including Samsung, Techno, Itel, Oppo, and Huawei.
·         New entrants in the market.
 
 
 
References.
www.cengage.com/marketing/lamb.

Answer

Apple Inc. Strategic Market Plan
 
Mission Statement.
The mission statement of Apple Inc. is "to bring the best user experience to its customers through its innovative hardware, software, and services." Changes shouldn't have been made to the company's overall mission when starting an online arm of a traditional store as this will cause conflict with objectives of the company.

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