Kristen Cookies Essay

606 words - 2 pages

Maggie Jones
MGT 590

Module 1
Page 1

Maggie Jones
MKT 500

Module 12
Page 1

Oscar Mayer: Strategic Marketing Planning1. McGraw changed his perspective of the business challenge because he was reminded that he had a competent and passionate team that had made solid recommendations relevant to their areas of expertise and would be able to effectively execute their proposed solutions. McGraw's strategic decision-making process is 1) Problem identification via the McTiernan report; 2) Situation analysis with managers' input taking into consideration the cost, convenience, customer, and competitive analyses; 3) Analysis of the proposed solutions; 4) Selection of a mix of solutions; 5) Preparation of a rough P&L based on selected solutions.2. The competition's changing strengths (more sophisticated manufacturing and marketing skills, stronger financial positions, focus on building value-added brands and market share) and weaknesses (reduced brand strength and longevity relative to OM) have encouraged the OM division to start devising strategies to develop healthier red meat products, invest in white meat, create new convenience products, and innovate in order to differentiate themselves from copycat brands. As a result, OM is increasing investment in R&D, A&P, and new human resources.3. I believe that the most viable departmental direction is Stanger's proposal to reinvigorate the Oscar Mayer brand. Oscar Mayer is the foundation of the division and responsible for 82% of profits. It's important to invest in R&D for the brand to adapt to changing consumer trends while adjusting the prices and A&P budget to increase market share. Second most viable is the acquisition of another company that focuses on healthier and more convenient products. Turkey Time seems like the best candidate as it is closely related to the division's core competencies and has extra capacity to support the OM price reductions. McGraw's team has had success with LR and can apply their learnings to the next acquisition. Least viable is launching two new products. The...

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