MG5590 Business Planning
Role 1: Strategy
1. Introduction
This part has focused on the strategic factors of made in Brunel product or service for analyzing their effective business plan briefly. It can be observed that Made in Brunel has been presented as a unique initiative that depends on the showcases of Brunel’s design talent. It can elaborate the facilitates of connection among the Brunel design and the greater creative community to understand their vision, mission, and strategy for their business plan such as launching an NFC tag barcode in a product. The strategic implementation has been depends on the role of marketer for analysing the factors of “Made in Brunel Product or service” for creating a business plan about launching ideas for using NFC barcodes to manage advanced services in the garments industry. After that, those ventures are analyzed by using porter’s five forces as a strategy for managing and engaging customer’s relationship. After that, it can be analysing the strength and weakness of this business mode to identifying the effects of this new venture.
2. The venture’s mission, vision, and strategy
Company overview: Strategy
Business Mission & Vision
Mission: Presenting as a unique identification and using in the retail stores based on the system of purchase process, to track inventory, as well as on invoices for calculating the accounting.
Vision
The venture’s vision for NFC tag barcode is focused on the system to connect the digital world by implementing tracking features in products to maintain authenticity.
Company core values
- It has been used by making a direct path two-way communication channel via a device by using an NFC reader (Vigolo, 2020).
- Using the porter’s five forces has been providing the vision and mission of for this new venture easy-to-operate, and managing by advances technology around the retail sector (Pepi et al. 2018).
- This factor has been maintaining the low-cost strategy and best-value strategy for both business plans.
- Flexibility.
- The aim is focused on developing the effects of market share based on charging lower prices as well as reducing costs (Slavik et al. 2020).
This part is providing the option for adapting a differentiation strategy to find the positive outcomes of those products in the market among competitors by existing brand and marketing strategy (Lloyd, and Aho, 2020).
Strength and weakness of this business mode:
| Strength | Weakness |
| · The system having Easy to read by the operators (Kuyucu, 2019);
· Identifying as a low light functionality by managing the system in retail industry; · Managing the circumstances of Invisible function by providing the help to detect risk;
· It can be Quick response by detecting the risks and managing the issues regarding business (Jamkhedkar et al. 2021).
|
· It cannot operating the system and not sharing the information properly from a distance (Elaskari et al. 2021)
· It is difficult to operate from mobile phones by having an NFC tag, and its limiting about the system of mobile payments. · Identifying the issues regarding NFC device as a compatibility issues for sharing files to others; · NFC has facing major security flaws without prominent system for using of NFC based on the lack of security measures (Frith, 2019); |
Table 1: Business Mode analysis
(Source: Self-developed)
Product Analysis
On the other hand they are supplying their product on the “BigBox retail sector” like Zara, H&M and Primark organization for managing the business markets by depending on the market demands. It can be notified that those ventures are operating with an effective plan for using collaboratively by dealing with features and products in the customer’s life cycle. After that, this factor has been providing knowledge about market demands by reaching based on its end-of-life and managing the demand with the help of streamlined resources along with finding paths with repurpose resources (Paurova et al. 2019).
Service Analysis
Therefore they can only focus on the big box sector than small retail sector because its operation cost is huge in market, pay for a venture. Thus, for the small retail sector it is difficult to managing those cost easily thus it can choose the big retail sectors in market. Therefore it can linked with the particular price for the venture’s perceived cost of value as well as real value depending on the considering supply costs along with competitor prices (Rahman, 2021).
After that, this particular venture is an advance tools, thus, place is playing an effective role to managing those effects. This venture providing their service at urban areas rather than village because it’s difficult to operates in rural areas lack of the facility and knowledge about it. The goal of the venture depends on the placement by referring to a venture via TV shows, advertisements, and web pages (Han, and Kang, 2020). After that, promoting the outputs of this with the help of digital way thus, clients can easily gathered knowledge about its functions and features for operating by educating system (Eti, 2020).
3. Reflection on Journey of learning business & strategy policy
The reason for choosing this particular strategy for this business plan is to mitigate the issues of this planning by managing several things. Thus, it can be increasing the range of profit level by reducing costs and focusing on charging industry-average prices and developing the market share depending on charging lower prices (Helmold, 2022). This particular strategy has been providing support to managing reasonable profit for this business by analyzing sales and reducing costs. This method brings profit to the business firm as a outcome of the competitive advantage and it’s provided by a unique product and service with higher quality than competitors.
Reason for using this particular strategy for this venture has been depending on the outcomes in the retail market. It can be stated that strategic operations has been providing the facility why it’s choosing a particular market based on the “Customer need and demands” (Kicova, 2020). This particular venture has been operating their business in the big box retail sector for maintain the demands on market based on the customer satisfaction to managing the organizational performance by mitigating the key issues of business. It provides the stability based on the market options for managing the security system and detecting the unethical issues in the retail sector for developing the growth of business by using this venture.
4. Conclusion
It can be concluded that the overall presentation has been presented to explain the circumstances to create a business plan for launching a system of paper recycling and using NFC barcodes in the garments industry. It can be observed that those ventures are launching with a particular vision and mission in the market by using an appropriate strategy to manage it. After that, using “Porter’s generic model” has been used as a strategy to manage those missions and visions for ventures and provide support to developing their service and features. Those ventures are useful for marinating SDGs and profit margins generating business properly and maintaining the ecosystem on earth. It can be observed that a role of marketer that this particular venture, has been operating an advanced system of managing retail business by using NFC barcodes. After that it can be analysing the appropriate market for using this venture and the reason for choosing that place by market demand, profit margin.
Refrences :
Kuyucu, M.M., 2019. The Advantages and Disadvantages of QR Code as a Marketing Tool. In ACADEMIC STUDIES (p. 229).
Jamkhedkar, M., Sanghavi, P., Gajera, P., Mishra, V.A. and Wanjale, K.H., 2021. Technologies for Traceability in Inventory Management System. Journal of University of Shanghai for Science and Technology, 3(6), pp.588-594.
Elaskari, S., Imran, M., Elaskri, A. and Almasoudi, A., 2021. Using barcode to track student attendance and assets in higher education institutions. Procedia Computer Science, 184, pp.226-233.
Frith, J., 2019. A billion little pieces: RFID and infrastructures of identification. MIT Press.
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