Building business strategies and skills

When preparing to launch a particular business, there are a few techniques that are typically put in place to accomplish a number of aims and objectives. Typically, an operating strategy is established before a project is completed. Determining how, by whom, and when the plans will be implemented is part of the operational procedures. The initiatives also contain a marketing strategy. The operational plans for the organization are included in this project to aid in the creation of the strategies and duties to be carried out. It also includes the project’s marketing strategies.

Operational Plans for the integrated resort

Possible operational strategies and tasks

.Product differentiation Strategy

The business will focus on the provision of various services to the customers since it has many businesses such as casino, hotels, and swimming pools among others. With the diverse services and products offered the business will have little competition from its competitors (Burkle, 2010).

Price skimming strategy

According to Foster, Thomsen, Moore, Baer, and Ruhl (2010), price skimming strategy involves the setting of a high a price during the initial stages of introduction of a product or a service into the market. It will be a strategy to attract customers to the business (Schubert, Moradi, Asadi, Luotsinen, Sjöberg, Hörling, Linderhed and Oskarsson, 2015). Further, the strategy will be used as a tool for competition for the available market with the competitors.

Growth strategy

Growth strategy involves the introduction of new products in a particular market for the first time. This approach will be used in the introduction of the services offered at the resort to make customers aware of the existence and availability of the new services in the particular area.

Acquisition strategy

Acquisition strategy involves a planned activity to help an organization manage risks and achieve specific goals (Hansson, Tolf, Øvretveit, Carlsson and Brommels 2012). This strategy will assist in the identification, management, and prevention of certain risks that may pose a threat in the implementation of the project. The strategy will, therefore, aid in the achievement of the objectives of the organization.

Personnel to implement the proposed strategies

Sales personnel

The sales personnel will be in charge of implementation of the growth strategy. It will be done through promotion of the products through personal selling and be advertising the various services to the customers. Further, the sales personnel will implement the product differentiation strategy by persuading the customers that the services offered in the resort are different and diverse. This will aid in the attraction of new and retention of the already existing customers. The strategy is also a tool for competition hence the salesperson should be competent enough to enable the upcoming resort to have a competitive advantage over its competitors.

Competent marketers

The marketers will be tasked with implementation of the price skimming strategy as a way to counter competition and reach a broad market area. The marketers must be qualified and competent with a wide range of experience in the marketing area.

Risk managers

The risk managers will be tasked with the formulation of programs to help in the identification, prevention, and minimization of risks that the resort is likely to face in the implementation of the project. With the risks already taken off, the project will be completed in within the specified timeline for its completion.

When to complete the strategies.

The HPl limited company has a net worth of $20 billion. The project will be easy to implement since there is enough financial resource available for implementation. Therefore the project is intended to be completed after four years. The already existing market calls for quick completion of the project to absorb the market that is available. The project managers will be in charge of the project to ensure that the project is completed within the timelines of the plan.

Budget for Implementation of the proposed operational strategies

The whole budget is estimated to be $30 billion for the entire project. The following is the distribution of the budget for specific proposed operational strategies:

Product differentiation strategy

This strategy will involve the hiring of competent salespersons and provision of diverse services in the implementation of the plan. It is estimated to cost about $5 billion as shown below;

Hire of salespersons $2.2 billion

Provision of services $2.8 billion

Price skimming strategy

Highly qualified marketers will be hired to carry out the plan in the introduction of the available services to the customers at the initial stages. The strategy is expected to cost $2 billion of the total budget.

Growth Strategy

Introduction of a new product in the market is very expensive since it involves convincing and persuading customers that your services are notably better for. it will be even more costly in the implementation of the project since there are many customers in the area. It is therefore estimated that the strategy will take almost half of the whole project. It will cost $9 billion of the total project.

Possible marketing plans for the integrated project

The proposed marketing plans for the project will include;

Market research

A market research will be conducted to help in obtaining information on the various challenges in the business environment (Hollensen, 2015). The research will involve an assessment of the introduction of the new products and services with the consumers to help discover the target markets. The information obtained will be very useful in lowering the costs of operations of the resort.

Competitive Analysis

McDonald, Payne, and Frow, (2011), argues that there is increasing competition in the market, a competitive analysis will, therefore, be part of the marketing plan. The analysis will be done to evaluate the weakness and strengths of the current and potential competitors. Further, the assessment will be done to help in the development of a competitive strategy for the target markets.

Market positioning

The marketing will also involve market positioning. Marketing positioning is usually done to enable the resort to identify its services and brand so that the consumers give different perceptions on its brand (Lewis, Mitchell, Levis, Isenberg, and Kish-Doto, 2013). The marketing positioning will also be done to aid the resort in occupying a certain place in the minds of its customers

Market strategy

Various marketing strategies will be included in the marketing plan. For instance, cause marketing strategy which involves cooperation between a profits oriented organization and a non-profit making organization for mutual benefit (Lewis, 2013). Other marketing strategies to be included in the marketing plan are relationship marketing strategy, transactional strategy, and close range marketing strategy.

Target market

According to Peter, and Donnelly, (2011), the business will identify its target markets to help in minimizing costs and maximization of profits. The target markets will be included in the marketing plan. Target markets help in designing of products and provision of services for particular consumers.

Budget

The costs for implementation of the marketing plan will also be included in the project. The budget will act as guidance on the various expenses allocated for each item in the plan (Hollensen, 2015). The budget will also aid in avoidance of wastage of resources as every item in the project will have a specific amount of cost allocated to it.

Metrics

Metrics are tools of measurement used in tracking of the performance of a particular plan already put in place to do. The metrics will be used in the monitoring of the market plans to ensure the items in the plan are accurate, efficient and efficiently achieved as listed.

Conclusion

In summary, this is a proposed project in which some proposed operational plan has been highlighted. Some of the proposed operational plans involve the planned strategies such as price skimming strategy which involves charging a high price for products at initial stages of its introduction and lowering the prices later. Another proposed strategy is the product differentiation strategy which consists of the production of unique products in the market to help compete fairly with the competitors. Other approaches are growth strategies. Besides the planned policies, the budget for the implementation has been illustrated and the various steps towards the attainment of the proposed plans.

The project has highlighted some items to be included in the marketing plan. Such items include the marketing strategy, budget, metrics, competitive analysis, target market and market positioning. The mentioned items will be useful in the achievement of the goals of the resort

References

Burkle, F.M., 2010. Do Pandemic Preparedness Planning Systems Ignore Critical Community and Local-Level Operational Challenges? Disaster medicine and public health preparedness, 4(1), pp.24-29.

Foster, M.B., Thomsen, S.E., Moore, M.L., Baer, R., and Ruhl, D.C., 2010. Kodiak Management Area sockeye salmon catch and escapement sampling operational plan, 2011. [In] Salmon research operational plans for the Kodiak Area, 2011. Alaska Department of Fish and Game, Division of Commercial Fisheries, Regional Information Report 4K10-03, Kodiak.

Hansson, J., Wolf, S., Øvretveit, J., Carlsson, J. and Brommels, M., 2012. What happened to the no-wait hospital? A case study of the implementation of operational plans for reduced waits. Quality Management in Healthcare, 21(1), pp.34-43.

Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.

McDonald, M., Payne, A., and Frow, P., 2011. Marketing plans for services: a complete guide. John Wiley & Sons.

Lewis, M.A., Mitchell, E.W., Levis, D.M., Isenberg, K. and Kish-Doto, J., 2013. Couples’ notions about preconception health: implications for framing social marketing plans. American Journal of Health Promotion, 27(3_suppl), pp.S20-S27.

Schubert, J., Moradi, F., Asadi, H., Luotsinen, L., Sjöberg, E., Hörling, P., Linderhed, A. and Oskarsson, D., 2015. Simulation-based decision support for evaluating operational plans. Operations Research Perspectives, 2, pp.36-56.

Peter, J.P., and Donnelly, J.H., 2011. Marketing management: knowledge and skills: text, analysis, cases, plans. Plano: Business pub., INC.

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