This sample will tell you about the:
- What is Strategic Management ?
- Explain Critical Reflections.
- Explain Marketing promotional strategy.
Strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. The highlands mission has target to produce frequent use as well as in luxury sector. The company is pursuing with moderate price with excellent quality within European market. HL have designed care as per different test and budget as being differentiated on basis of elegance, paramount comfort and outstanding quality, affordable, eco-friendly and practical vehicle. The firm have major priority to fulfil the expectation of customer with high technology and insuring there with quality zero and low-emission cars, offering them optimal payment conditions and longer warranty periods.
The firm have achieved the 100% sales in frequent market for first year along with experiencing there 3% reduction in luxury sector by the upcoming year. The firm have rebranded the company name from Highland to Highland Automotive. Hence, the firm have tried to have more level of maximization for both option cars in order to gains more level of market shares by having there least level of possible inventories.
Key performance is there value with in used to have monitoring and measure more level of effectiveness which is used to have the linkages in firm strategic goals along with analysing manufacturing process in order to have their measuring of the relative level of predetermine goals and objectives. KPI is as important aspect as the inclusion of measurements and metric which provided clear support over facilitation for understanding and improving more level of manufacturing process and performance. In the meeting one and two there is the understanding the forecast form along with discussion their finance for the business game. In this meeting all the mentioning participant were involved on the date of 13th march. In addition to that’s the task were positively accomplished which have the clear level of discussion the various level of business objectives that’s the company is needed to be performed by the ned of the 4 the years by having successful launch new model and the supply markets with 5000 units in the years 3. On the other hand, as per the key performance indication it has been analyses that’s up to the initial years, the company is successful in 49980 units of Archi M5 and 6840 units of deLux W7. Ask for assignment help from our experts!
Highland company have their clear aim to have the productions of more level of frequent use cars along luxury travels by moderate level of pricings. The firm have the clear idea of securing the market share up to 5.5% in the both sectors of deluxe car and the medium one. KPIs can be good at reporting on KM efforts in tangible ways via numbers and trendlines, but they do not substitute for evaluating the performance of KM in terms of positive impact on the business. In addition to that’s, the firm is required to have minimization all level of closing inventory by the range to 12%. On the other hand, as per analysing the key performance indicators which have clearly concluded that’s medium cars are considered to be most dominants markets by longer duration in business competitive market.
In addition to that’s their luxury cars have the lowest level of market share and productivity. There are various phases which have the clear level of involvement over making managements of the different phases in more over to have the conclusion in different factor. There is key performance factor which is being analysed by the firm due the impacts of market shares as luxury cars have the higher level of selling prices but observed high profit margin.
As in the meeting 3 have the discussion over the targeting and market segmentation of the company in which all the participants have been there. This meeting has the adoption of demographic segmentation of market. HL have the introduce Archi M5 and the deLux W7 which is being designed in medium care and luxury sector respectively for the young adult groups (25-40 years). The company tends to have resulted in research as this age group have large families by apparently having the need for level of space, comfort and security overall shifting into respective budget. In addition to the, the firm have observed the gross margin nearly about 40% in deluxe sector. With the consideration of the individuals, the deluxe cars are persuaded by families which have higher purchasing power in order to have the maintenance of social status and posh level of lifestyle. With the consideration of the factors, the meeting have chosen the age category as our descriptive target audience for the both level of car types to have successful business.
In the continuation of meeting 3, there is pure level of discussion of the marketing and promotion strategy which is being decided to have their progressed on the basis of traditional format. In the meeting, it has been analysed that investments in promotion have been there key level of parameters for the business a s more level of increment in sales. There firm have analysed the different level of platforms by having the investments of £112 million in overall marketing. The investment is be breakdown such as follows-
The HighLand invested £10m in Television which is been 35% more level of effective for the growth of business as compared to the other respective campaign. In addition to today’s technology, digital media is the fastest level of technology as the growing fastest media, so the firm have the decision to finance £9m to target all the age groups. On the further basis, the firm have their promotion through radio and journals which is nearly amounts about the to £8m annually. As per the discussion of the team members in the meeting it has been analyses that there radio is considered to be the approach of slightness along with newspaper which is helpful in targeting the customer who belong to the age of among 30 years.
On the other hand, with respect to the promotional activities, the company have decided to spent more level of £30m on Dealer Incentives and £37m on Promotional Offers which are considered to be more level to effective platforms. the former one has been there used in mayoralty car producers to have dealers to trades in the particular level of vehicles at more discounted process. As per the measuring of the performance indication, it has been analysis there is more level of effective strategy of the dealer incentives on targeting their category of 41- 50 years. The meeting have the furthermore accounting as their investment I more level of promotional activities have the major attracting expedient in escalating sales and maximising profit. Finally, £18m invested in Sponsorship to save money and pull out profit when needed.
After promotion the next aspect which is being disused in the meeting is such as the finalization of the completive strategy which has been discussed in the meting 4 which have been conclude of more than 4 hours. The activities which re involved in this meeting cannot be achieved to the fuller aspect. The pricing strategy which all discussion has been achieved with overall discussion of the round 1 as Everyone provided insights about their own department. This meeting has attempted to get the clean level of failure over the finalizing the business plan dated on 23 rd march.
The HL have introduced as well level of competitive strategies which is helpful in gaining more level of competitive advantages such as improved build quality of cars, innovative options, high-tech in view of battery electric vehicle (BEV) and upcoming product development projects. As form the key performance indicators have analysed, the market targeting and positioning strategy as been proves as 100% sales by allowing more level of customers for medium car sale. The firm have strategy to make the down payments of the just the about of 5 % of the car price and the rest of amount withing 60 days by instalments.
On the other hand, the other level of facility which is been introduced by their fir in PCP (, Personal Contract Purchase plan) deals which have the simple following of structure that’s is Pay a deposit + Monthly payments + Option to save, refund or even change your car for a new model. The firm is providing more level of competitive advantage to the customer by provided this flexible scheme as compared to the Toyota, Ford, BMW and other giant concerns. This provides customer to have chance to change their cars on the more perfect and regular basis as Corresponding financial services and payment schemes gives us the upper hand in the market. The key performance indication has signified that’s the firm is concluded to be more level of success to introduce and propose our customers a lease-to-own/lease-to-buy financial system and payment by instalments such as PCP (personal contract purchase) plan.
In this meeting, there is most level of clear outlook over the germination of the Designs, Options and R&D as the company is more level of successful in designing Archi M5 as 3/5 Door Hatchback electronic vehicle and the deLux W7 as 2/4 Door Saloon petrol engine car, and selected SUV style for both our cars as a body variation. The Large petrol engine was provided on request for customers who prefer hybrid medium cars. On thither hand the issues which are realized in the key performance indicator is such as the firm have the limited level of financing available with them. never the less firm have tired to have there no level of compromise on quality and auction of recent level of technology.
With respect of the key performance indictor, it has been analysed that’s Design and Options Cost comprised 37% of medium car cost, and 19.6% of luxury car cost. In this meeting which all discussion has been achieved with overall discussion of the round 1 as Everyone provided insights about their own department. In addition to that’s there is lacks of relative data regarding the preference of customers. So the tea member have the decision to be one safe side by maximising both level of options for the both respective cars in order gains more level of market share and with relatively have the least possible care in the investors. Need Assignment Samples?Talk to our Experts!
The next is about their pricing in which the team member have choosing of their adequate pricing strategy in which there have been the clearance over having the price of luxury cars (£74,500) and managed to sell out them in the first year, meaning our attempt to maximise profit was successful before the luxury market experienced reduction by 3% in the following year. In addition to that as comparative to the previous round, the team will be more focus on the activities which are related to the launching an producing of more level of car models which have the clear level of expectation to have the growth in upcoming year.
As per the performance key indicating, it has been analysed that’s their medium care Archi M5 was priced at £26,400, compared to our competitor Nissan Leaf Electric lists their car as £31,900 as this is helpful in gaining more level of competitive advantages
In the next meeting, the team have the participants which have the requirement of the teem period in order to have the trails of the round 1 along with planning of human resources with Research and Development. As per the indicative of key performance indicator, it has been analysed that’s there is more level of dependence on their market research data in further years to customise designs and options, and make proper improvements to its cars, with more accurate money allocation. It has been assumed that’s the more level of investment in research and development among being in the start-up competitors will be turning out to be more level of beneficial in the upcoming future.
As per the meeting, it has been analysed that’s the firm is able to have the manufactured 49980 units of Archi M5 and 6840 units of deLux W7. In next to that’s their company have the core level of discussion and concluded over the decision of utilizing the firm and resources on a half capacity, employing only 1950 workforce. The rational which is been analysed over this decision is such as there been as an amateur company in car manufacturing industry. The firm member don’t have the need o jeopardise in upcoming first years by investing more of the capital in the upcoming years in more accurate an rational level.
On the other hand, the firm have the clear level of decisions to pay the staff higher as comparative to the minimum wages, that is £450, which motivates our workers to do quality work and avoid strikes as much as possible. However, the team member has the clear planning to increase wages by 6% annually and provide scheduled trainings to the employees. As per the key performance identification this have the clear level of requirement of there to invest in their development £4.1m, where 10% of it was devoted for management training. This action increase workers’ productivity, strengthens safety measures in emergency.
The last and more which is need to be discussed in about the need for the HL to have the understanding regarding the corporate social responsibility to the environments. this will be added as the fulfilling the responsibilities to have the manufacturing environmentally friendly vehicles. This have inclusion of there proper designing of the cars which have the suitability in Ultra Low Emission Zones which enhance the performance of the cars and also helps to attract more customers.
In the context of HRM, it can be said that it plays an important role in any type of industry. In regards to high land company, it is stated that it manufactures mainly 2 types of car products which is: Archi M5 and Delux W7. Approximate 49980 units of Archi M5 produced and 6840 units of Delux W7 were being produced. In the context of HRM, I can say that its main function is to motivate, hire and recruit employees. It is all about satisfying employees because it believes that motivated employees have more potential to perform activities and cooperate company in accomplishing their goals (Ray and Ramesh, 2016). So, it was one of the main reason as High land company used several techniques to motivate their employees such as: paying them higher than minimum wages, providing effective training, performance appraisal annually by 6%. On the other hand, company also decided to not to invest more and take risk in initial and very first year because it thinks that may be it can create several problems. But I can say that without investing in other functions and providing extra to employees can increase its operational and other cost Due to this it may have to face problems like lower profit margin etc. So, it can be said that strategy which this company has used for motivating employees and making HRM successful was quite good.
Target customers and marketing segment
In this context, I can say that it is one of the main keys of the success of strategic management and growth of an organization. There are mainly 3 types of segmentation such as: geographical, demographical and behavioural. This High land company has targeted its market on the basis of demographic and the main target is 25-40 age group of people. In this context, it is also stated that medium cars is one of the main part which has large market share but lower profit margins. On the other hand, luxury cars have higher profit margins but lower market share (Modell and et.al., 2016). In this context, I can recommend to the company that it should focus on producing medium cars as compare to deluxe because with this, it can earn more profit and increase its market share. Reason of selecting this target market is influencing them to buy cars to the large extent and support company in increasing sales. This age group of people have willingness or desire to buy such kind of cars and also have high purchasing power. In this context, i can say that the selection of target market is quite good but by focusing on behavioural target market or identifying needs of all age group of people, it can attract wider rage of customers. It is stated that people with above 40 age also have desire to buy such brands and type of cars. And focusing on all type age group and gender of people it can improve its image as well. The company is pursuing with moderate price with excellent quality within European market
Marketing promotional strategy
It is other main strategy by which company can promote their products and increase sales. In this context, I can say that promotional strategy is the key of the success of company so, companies should focus on investing in this key area It is analysed that this car manufacturing company has invested approximate £112million in all marketing functions but mainly focused on promotional strategy. There are different areas in which they invested such as: £10 million in television. It is analysed as per the research that investment in television for promoting products and services of companies has 35% more effectiveness than other campaigns and mode of promoting. In addition, I can say that digital marketing and using all social media platforms can be more effective than others and it can allow company in attracting customers (Dimitriu, 2018). In this regard to, analysed that this High land company has decided to finance about £9million in order to target all age group of people. Promoting products or both cars via radio and journals, this company has invested £8m annually. I can say that the strategy of this company and selection of sources of promotion is good as it invested in almost sources of promotion as per the age group of people. HL have designed care as per different test and budget as being differentiated on basis of elegance, paramount comfort and outstanding quality, affordable, eco-friendly and practical vehicle. As per the key performance indication it has been analyses that’s up to the initial years, the company is successful in 49980 units of Archi M5 and 6840 units of deLux W7.Highland company have their clear aim to have the productions of more level of frequent use cars along luxury travels by moderate level of pricings. The firm have the clear idea of securing the market share up to 5.5% in the both sectors of deluxe car and the medium one.
Such as: it invested in newspaper for promoting its car because it believes that people above the age of 30 rely on newspaper. It is also analysed that dealer incentive is other best way of promoting products and target people with the age group of 41-50. So, overall I can say that strategy and selection of promotional ways and strategies was effective and it can allow this company in developing business and increasing market shares.
In this context, I can say that the success and increment of sales of an organization mainly depend upon the selection of competitive strategy (Rugman and Verbeke, 2017). Car manufacturing or automobile is one of the main industries which is increasing day by day. The main reason of this development is technology and this advanced technology has made other companies able to increase market share and increasing competition in the market as well. In the regards to High Land Company, I can say that it has several features which can help it out in taking competitive advantages such as: quality of products or cars, high teach-in view of battery electric vehicle and innovative options. Other main key of its 100% success is targeting the right people. It has also given opportunity to its customers to pay down payment of only 5% of the car price and rest payment can be done in next 60 days by instalment. There are several other options are also being given to customers of payment. Some examples of other opportunities given by this company include: flexible scheme, personal contract purchase plan which is also being given by some other big brands like BMW, Ford, Toyota and others. One of the main reasons of this company of giving these opportunities is to make customers feel valued and make them influence to buy cars from this company only and not to switch shops. It is quite good but I can suggest that this company should give discount or post sale services. For example: free 4-5 servicing on cars and allowing 24*7 customers services to customers, it can make a strong position in the market.
Designs and R&D
In the context of design, I can say that it is one of the main things which is being considered by people while making buying decision of cars. In car, there are some factors which are being considered such as: fuel efficiency and design. So, it is important for HighLand company to focus on improving design. In this regard to, it is stated that this company mainly produce or design 2 types of cars such as: the Archi M5 as 3/5 Door Hatchback electronic vehicle and the deLux W7 as 2/4 Door Saloon petrol engine car, and selected SUV style for both our cars as a body variation. It is also stated that customers who prefer hybrid medium car they can also get cars as per their needs as this company manufacture cars as per the special demands of customers. So, from this, it can be said that this company mainly focuses on satisfying needs of customers and its all strategies are customers and employees centric. Highland is start up company so, it stated that for making a good position in the market it will focus on designing of cars because it is one of the main considerations while making buying decision. It also stated that as compare to quality, it gives weight to designing. In this context I can say that design is important but quality is more important than designing because designing can make this company able to be in the competition for some extent. But quality can make it able to be in the market for long run (Stephens, 2019).
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In addition, it is also stated that medium car have more cost than luxury cars in designing areas. Medium cars comprised of around 37% and luxury cars have around 19.6%. In round this company had no relevant or appropriate data about customers’ preference of cars and it can lead some problems. It is important for this company to know preferences of customers about cars and accordingly invest in R&D and designing of cars. On the other hand, I analysed that this company has information’s about popularity of its both cars which can give its positivity and willingness to invest more in all activities and producing number of cars. I can suggest this company that it should focus on survey and questionnaire as with its help it can know all detailed information’s about effectiveness of its cars. It can also know about preferences of customers about cars. With the help of answers given by customers in questionnaire and survey, it can take several advantages and external opportunities. So, overall, I can say that by focusing on research and development and getting information’s, it can be the market leader in upcoming years.
The productions of more level of frequent use cars along luxury travels by moderate level of pricings. KPIs can be good at reporting on KM efforts in tangible ways via numbers and trendlines, but they do not substitute for evaluating the performance of KM in terms of positive impact on the business. pricing. Pricing strategy in which there have been the clearance over having the price of luxury cars (£74,500) and managed to sell out them in the first year, meaning our attempt to maximise profit was successful before the luxury market experienced reduction by 3% in the following year. He firm has the level of usage of aggerated pricing which is helpful strategy in which there have been the clearance over having the price of luxury cars. Moreover, the firm have clear level of advantages for more focus on the activities which are related to the launching a producing of more level of car models which have the clear level of expectation to have the growth in upcoming year.
From the above file it can be concluded that The company is pursuing with moderate price with excellent quality within European market. HL have designed care as per different test and budget as being differentiated on basis of elegance, paramount comfort and outstanding quality, affordable, eco-friendly and practical vehicle. As per the key performance indication it has been analyses that’s up to the initial years, the company is successful in 49980 units of Archi M5 and 6840 units of deLux W7. As it has been clearly concluded that’s medium cars are considered to be most dominants markets by longer duration in business competitive market. As per the measuring of the performance indication, it has been analysis there is more level of effective strategy of the dealer incentives on targeting their category of 41- 50 years. It has been introduced by their fir in PCP (, Personal Contract Purchase plan) deals which have the simple following of structure by providing competitive advantage to the customer by provided this flexible scheme as compared to the Toyota, Ford, BMW and other giant concerns. As per the indicative of key performance indicator, it has been analysed that’s there is more level of dependence on their market research data in further years to customise designs and options, and make proper improvements to its cars, with more accurate money allocation.
High Performance Teams A team is a group of individuals who work together to accomplish certain goals. Any group or number of people can become a team, but it takes motivated high performing individuals to create a high-performance team. As considered to the team member were considered amore level of efficient is sharing more efficient level of business idea. There is identification of the different character tics such as the dependability which is helpful in meeting. on the other hand, the team member has their structure related clarity which having the defined level of role by having the more level of involvements in their personal’s significance. There is organization of the various meeting at the time period of different tenures in which many have turned out to be more successful in contributing the more level of success in business environment. In the starting the team have faced more level of difficulties in having the particular level of decision. In addition to that’s the issues which are prevailing in the team the exclusive level of absentness as it has been observed that there were many team member which were present in all the meeting to have the discussion of there business plans. In addition to the team member were continuality missing the deadlines with their poor quality of work. Some of the team member were the part of social loafing in which there were lacking to have the contribution of their respective idea to make the business more level of productive. as the parts of team, I have personally faced the issue of communication in order to have interaction with different teams’ member to have contribution of team work. As per the indicative of key performance indicator, it has been analysed that’s there is more level of dependence on their market research data in further years to customise designs and options, and make proper improvements to its cars, with more accurate money allocation.
Each team member has the different level of perception which is more of creating the issues indifferent business environment. Initially, I have the challenges to making the further level of interstation with my earn member but on the later on discussion of the team members in the meeting it has been analyses that there more consideration to various approach of slightness over meeting up the various goals and objective of the organization. As per the particular analysing the different situation, it may have the clearance as All team’s experience difficulties from time to time and it is my responsibility as a manager to resolve any problems as quickly as possible. Some team problems can be traced to an individual team member who is not performing as expected or who is causing conflict within the team. Working in the team project help me in determined to be an excellent example of teamwork. Teamwork is essential in any type of career, and by doing team projects while still in school will continue to help me prepare for my future.