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BA2050 : Organizational Creativity And Innovation
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BA2050 : Organizational Creativity And Innovation
0 Download4 Pages / 901 Words
Course Code: BA2050
University: American University
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: United States
Question:
You will utilise all relevant theories, models, and ideas to develop a venture plan that demonstrates an understanding of where and how innovation transitions to entrepreneurship, in a new venture.
just outline a strategy for how a culture of further and ongoing innovation can occur within the new venture. For write anddevelop a marketing and channel strategy approach for food and drink in one cup venture product. Detail the content of the venture plan to show how it scales to a global organisation.
Answer:
Introduction:
The term channel strategy refers to a particular plan of a vendor for the delivery of a moving product or service through the commercial chains available. The manufacturers of any product or the service providers have a number of different channel options in hand. The following assignment deals with the selection of the appropriate marketing and channel strategy for Snax cup which is a double utility cup as both solid food and drinks can be taken into it. This helps to save money, wastage and also helps to save paper.
Factors that needs to be Considered
The selection of the best marketing channel is essential for the success of the product. The selection of a wrong channel can lead to the failure of the product. The selection of the channel must also suit the marketing needs of the product. Some of the main factors are as follows;
Types of Customer
The management of the company producing the cups have to be aware of the types of the customers who will be using them. The first thing that is to be kept in mind is that whom to sold the cups? The management of Snax cup will generally sell the cups to the different food outlet companies who sell fast foods to customers from their stalls (Ashley & Tuten, 2015). Thus the organization has to set the target and select the customer segment as business customers. Therefore the selection of customers is one of the major factors in the selection of the channel strategy.
Product type
The product is Snax cup which can be utilized both in eating and drinking and will thus help to save costs. The type of the product that is on offer will determine the channel strategy of the organization.
Channel Partner Capabilities
According to, Bellin (2016) the management of the main organizations must be sure to analyze the capabilities of the channels that are used by the other competitors. The channel used by the competitors must be analyzed to ensure the selection of the correct channel.
Business Environment and Technology
The general business environment and technology is also a key factor to the selection of the channel strategy of the business. The technological models to be adapted must be kept in note to ensure the selection of the channel.
Competitors
The presence of competitors in the market and their capability must be compared to ensure the selection of the channel strategy of Snax Cup.
Channel Strategy for Snax Cup
Some of the main channel strategies that can be used by the organization are;
Personal Selling
The personal selling of the products to the potential customers can be one of the many ways to be adapted by the management of the Snax Cups. The company can appoint a number of different sellers to promote the cup and its utility in the market and push the product to the potential customers of the product. Such a strategy will help the product to garner huge attention and will be adaptable in nature (Johnston, Le & Cheng, 2018). However, there are some disadvantages like high cost and expensive marketing which can hamper the company in the long run.
Direct Selling
Direct selling can be applicable for every kind of products and thus Snax cup can be marketed through the use of this particular strategy (Ashley & Tuten, 2015). This kind of strategy will need the company to go to the customers personally and show them their product and its use. This particular kind of channel marketing will be of no help as because the management in such case has to employ a number of salesmen to promote the product.
Online Selling
Online selling is the latest trend of the marketing industry and it ensures a global marketing because of its network. The product can be marketed successfully through this particular channel as it will help the organization to deliver the customers the products at a cheap rate and within the time (Krafft et al. 2015). Online selling also helps to create a large base of customers and create a unique competitive advantage for the business.
Conclusion:
The following report aims has highlighted the factors and elements that needs to be considered while selecting the channel strategy and has also highlighted some of the strategies. Though all the mentioned strategies can be easily undertaken and implemented by the management, Online marketing will be the best and the suitable strategy to succeed in the market.
References:
Ashley, C., & Tuten, T. (2015). Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology & Marketing, 32(1), 15-27.
Bellin, H. (2016). Branding and marketing channel strategies: Some effects on channel partners. Journal of Marketing Channels, 23(4), 255-257.
Johnston, W. J., Le, A. N. H., & Cheng, J. M. S. (2018). A meta-analytic review of influence strategies in marketing channel relationships. Journal of the Academy of Marketing Science, 46(4), 674-702.
Krafft, M., Goetz, O., Mantrala, M., Sotgiu, F., & Tillmanns, S. (2015). The evolution of marketing channel research domains and methodologies: an integrative review and future directions. Journal of Retailing, 91(4), 569-585.
Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers.
Verhoef, P. C., Kannan, P. K., & Inman, J. J. (2015). From multi-channel retailing to omni-channel retailing: introduction to the special issue on multi-channel retailing. Journal of retailing, 91(2), 174-181.
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