MKT 607 Module 8 Benchmark CLC: The Marketplace Final Report to the Board Diamonds International: Year Two Performance Reportin Marketing Plans by TopClassHomework
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MKT-607 Module 8 Benchmark- CLC: The Marketplace Final Report to the Board - Diamonds International: Year-Two Performance Report
Marketing Management The Marketing of Services
This is a Collaborative Learning Community (CLC) assignment.
Refer to "MKT-607 Marketing Management: The Marketplace Simulation."
Your team will create the Final Report to the Board (1,000-1,250 words), which will be a written summary of performance. The Report to the Executive Board should include the following components:
1.Review your financial and market performance during the 2nd year.
Highlight the key features of the business plan that was presented to the venture capitalists: Brand Strategy, Pricing Strategy, Advertising Strategy, and Sales Channel.
2.Assess your business strategy and performance during the 2nd year.
3.Compare actions taken in regard to the marketing plan.
4.Discuss departures from the marketing plan, justification, and outcome.
5.Review significant events that affected the company and/or market.
6.Assess your current situation and the market (What are your firms strengths and weaknesses?)
7.Summarize how you have prepared your firm to compete in the future.
8.What were the lessons learned and recommendations?
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
Diamond's International: Year-Two Performance Report
March 18, 2015
Diamonds International - Year-Two Performance
Diamond's International found success in our second year of operations; meeting or exceeding all benchmarks set after year-one. Financially, we had projected to reach revenues of 61.6 million. Actual revenues totaled 91.3 million, with cumulative net profits of 17.8 million versus projected 2.6 million. While these numbers far exceeded projections, our overall market share did wane in year two from 23% to 13%. This was mainly due to the overall aggressiveness of our competitors and our own conservative assessment of the market as a whole.
Our brand strategy focused on keeping the consumer satisfied through...