Research a company of interest in the service or manufacturing industries and answer the following questions.   Usually, the company website is the best place to start.

Research a company of interest in the service or manufacturing industries

DQ Week 2 – Operations Strategy and Competitiveness

Research a company of interest in the service or manufacturing industries and answer the following questions.   Usually, the company website is the best place to start.

Q1.      Discuss your selected company’s mission statement, target markets, and specifics of their product and service offerings.

Q2.     How does their operations function support their business strategies?

More details;

How might you determine the target market for a specific product or service?
How to Define Your Target Market

Firstly, look at your current customer base. Who are your current customers, and why do they buy from you?

Secondly, check out your competition.

Thirdly, analyze your product/service.

Fourthly, choose specific demographics to target. …

Further, consider the psychographics of your target. …

Additionally, evaluate your decision. …

Lastly, Additional resources.

What are the 3 parts of a mission statement?

According to Chris Bart, professor of strategy and governance at McMaster University, a commercial mission statement consists of three essential components:
  • Key market: the target audience.
  • Contribution: the product or service.
  • Distinction: what makes the product unique or why the audience should buy it over another.

 

What should a company mission statement include?
A mission statement is a simple statement that explains your company’s goals. It’s a summary of what your company does for its customers, employees, and owners. It explains how you do what you do. And, it focuses on why your company does what it does.

What are 4 elements of a positioning statement?
The Positioning Statement definition is comprised of 4 parts; the target, the category, the differentiator, and the payoff. We’ll talk about these in summary below, but first, there is some work to be done. Before sitting down to write your PS, decisions must be made. You must choose your target market.

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