BUS/475 V11 Project Plan Example ✓ Solved

BUS/475 v11 Project Plan Example BUS/475 v11 Project Plan Example

Project Title: Desert Taco Opportunity

Description: Based on initial feedback from customer surveys, online discussion/social media groups, and SWOT analyses, you’ve determined that there is an opportunity to increase your organization’s customer base through the introduction of desert tacos in your food truck menu.

Project Objectives: Identify the top three potential customer groups for this opportunity and describe their characteristics and preferences.

Operational Steps:

• Review the organization’s customer database to determine potential customer groups (Responsible Person: Leo, Market Research Manager, Timeline: 9/30 - 1 week)
• Identify the top 3 groups to target based on volume, brand loyalty, and location (Responsible Person: Betty, Director of Marketing, Timeline: 10/7 - 2 weeks)
• Survey customers regarding food preferences and potential menu items (Responsible Person: Tom, Customer Service Representative, Timeline: 10/21 - 4 weeks)
• Share customer feedback with inventory and operational teams (Responsible Persons: Betty/Tom, Timeline: 10/28 - 5 weeks)
• Determine the top 5 locations and times to complete a pilot study with your test market (Responsible Person: Jim, Director of Sales, Timeline: 10/7 - 2 weeks)
• Create marketing collateral and social media communications to promote the desert taco pilot (Responsible Person: Oliver, Media Relations Manager, Timeline: 10/21 - 4 weeks)
• Provide expected volume and product information for the inventory team (Responsible Person: Jim, Timeline: 10/7 - 2 weeks)
• Estimate the required inventory and supply chain needs necessary to support the desert taco pilot (Responsible Person: Louise, Controller, Timeline: 10/14 - 3 weeks)
• Source supply companies and obtain product pricing quotes and delivery timelines (Responsible Person: Louise, Timeline: 10/21 - 4 weeks)
• Determine shipment and storage needs to support the pilot (Responsible Persons: Louise and Ben, Operations Manager, Timeline: 10/21 - 4 weeks)
• Purchase product for the pilot and arrange transportation to support the desert taco pilot at various locations (Responsible Person: Louise, Timeline: 10/28 - 5 weeks)

BALANCED SCORECARD TEMPLATE:

Background: Strategic objectives are a measure of attaining your vision and mission. They reflect the vision, mission, and values of the business, as well as the outcomes of the internal and external environmental analysis.

Scorecard Areas:

• Final Objectives: Measures, Targets, Timeline/Metrics
• Increase market share: Total Revenue Increase 5% in the first year
• Enhance internal business processes and company culture.

Paper For Above Instructions

The introduction of desert tacos into the food truck menu is a strategic initiative aimed at expanding the customer base of the organization. The target demographic for this new product line encompasses three distinct groups: the health-conscious community, busy professionals, and millennials and Gen Z consumers. Each of these segments has unique characteristics and preferences that can be leveraged to maximize the introduction's success.

Potential Customer Groups

1. Health-Conscious Consumers: This group is typically characterized by its awareness of calorie intake and nutritional value. They prefer meals prepared with fresh, organic ingredients and are interested in dietary options like vegetarian, vegan, and gluten-free tacos. To effectively target this group, customer surveys could emphasize healthy ingredient sourcing and innovative taco recipes that cater to various dietary needs.

2. Busy Professionals: Working individuals often seek convenient meal options due to their hectic schedules. This demographic shows a preference for quick, high-quality meals that can be consumed on the go. Marketing efforts should highlight the easy-to-carry nature of desert tacos, and promotional tactics may include partnerships with corporate offices for lunch deals or bulk orders.

3. Millennials and Gen Z Consumers: Known for their adventurous tastes and social media engagement, this group is inclined towards trendy food options and unique flavors. They are highly influenced by online marketing and are drawn to visually appealing presentations of food. Such preferences suggest the need for robust social media campaigns, engaging food images, and active community feedback channels to drive interest in the new desert taco menu items.

Operational Steps for Launching Desert Tacos

To operationalize this project, it begins with a thorough review of the organization's customer database, executed by Leo, the Market Research Manager. By September 30, identifying potential customer profiles will enable targeted marketing strategies (Kumar & Reinartz, 2016). Following this, Betty, the Director of Marketing, will pinpoint the top three customer groups by October 7, analyzing factors such as volume of concern, brand loyalty, and geographic area.

Next, from October 21, Tom, the Customer Service Representative, will conduct customer surveys about food preferences. This feedback will be crucial to optimize the product offering and ensure alignment with customer interests (Kotler & Keller, 2016). Simultaneously, Betty and Tom will compile the findings to share with inventory and operations teams by October 28.

Understanding peak sales opportunities is equally important. Jim, the Director of Sales, will utilize sales data to identify the best locations and times for the pilot study, aiming to maximize exposure and customer interaction. By October 21, Oliver, the Media Relations Manager, will develop compelling marketing collateral to spotlight the desert taco pilot launch.

Inventory and Supply Chain Considerations

Critical to the success of this initiative is the estimation of inventory and supply chain needs, managed by Louise, the Controller. This aspect of the project involves obtaining pricing quotes from suppliers, managing shipment logistics, and ensuring proper storage facilities (Chopra & Meindl, 2019). Furthermore, collaboration between Louise and Ben, the Operations Manager, is essential to arrange transportation of products to various trial locations by October 28, ensuring fresh and timely deliveries.

Balanced Scorecard Strategy

The balanced scorecard approach will guide the measurement of strategic objectives throughout the project. Key performance indicators, such as increased market share and customer satisfaction metrics, will track the operational effectiveness of the taco introduction. The focus will also extend to internal process improvements and team productivity, directly correlating to operational success (Kaplan & Norton, 1996).

Conclusion

In summary, the introduction of desert tacos presents a unique opportunity to broaden the customer base and enhance brand loyalty. By targeting specific customer segments, leveraging operational efficiencies, and using a balanced scorecard for ongoing assessment, the organization is poised to achieve its marketing objectives and promote sustainable growth.

References

• Chopra, S., & Meindl, P. (2019). Supply Chain Management: Strategy, Planning, and Operation. Pearson.
• Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action. Harvard Business Review Press.
• Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
• Kumar, V., & Reinartz, W. (2016). Customer Relationship Management: Concept, Strategy, and Tools. Springer.
• Leswing, K. (2020). Apple's fastest-growing business segment, which includes AirPods and Watch, is now bigger than Mac. Retrieved from https://www.cnbc.com.
• Mintzberg, H. (1994). The Rise and Fall of Strategic Planning. Free Press.
• Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
• Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
• Kotler, P., & Armstrong, G. (2018). Principles of Marketing. Pearson.
• Kahneman, D. (2011). Thinking, Fast and Slow. Farrar, Straus and Giroux.