DEVELOP AND IMPLEMENT A NEW STRATEGY AND ASSESS ITS FINANCIAL VIABILITY This assignment has three parts:
PART-3(A): SELECT A NEW STRATEGY
PART-3(B): DEVELOP AN IMPLEMENTATION PLAN
PART-3(C): CONFIRM FINANCIAL VIABILITY OF THE PLAN
SELECTING A NEW STRATEGY
In the previous steps, you evaluated the current fit in the company and, in doing so, highlighted the major issues/problems faced by the firm. Your task now is to generate and evaluate possible solutions. Given your previous work, you probably have a number of ideas of what the company “could do”. Note that this is very different from what they “should do”. Following the process outlined below will help you move from generic “coulds” to justifiable “shoulds”. 1. DATA COLLECTION
This is where you can collect all your ideas, new and old, about what the company could do. Try to brainstorm here, being open and not rejecting things at this point. The intent is to get all of the ideas out on the table, and the only caveat is that the ideas be directed at solving the issues/problems addressed in the previous step. However, do try to channel your thinking into two broad categories: Strategic Adjustments: These are changes in strategy components (goals, product/market, focus, value proposition and core activities) that the firm could consider Dr Pepper Snapple Group can choose to offer a new energy drink product. (Product/Market Focus and Value Proposition) DPSG can offer new cola drinks, such as a product resembling Coca-Cola or Pepsi. (Product/Market Focus and Value Proposition) DPSG can market an existing, or new, product exclusively to women. This would be a response to some of the negative feedback from the Dr Pepper TEN "Just for Men" marketing campaign. (Product/Market Focus and Value Proposition) Dr Pepper Snapple Group could explore the possibility of increasing its distribution in major cities, such as New York. One possible way to do this is by obtaining contracts with local restaurants, or fast food establishments, to serve Dr Pepper and Dr Pepper products. This would open the door to a future increase in distribution in these major cities. (Product/Market Focus, Value Proposition, and Core Activities) Capability Changes: These are changes in capabilities that the firm could consider to address the strategic adjustments proposed (above) by you. There will have to be changes made to Dr.Peppers current business capabilities Marketing: When the product is chossen and has been thru all the stages of development, changes in the marketing strategy will be implemented. The marketing department will need to develop a campaign focus on the target market for the new product. The resources that the marketing department of Dr. Pepper currently had will need to be changed to accommodate workload of a new product. If the current marketing team does not have the capacity to market this product then the campaign can be subcontracted out to a advertising agency. This option will have the highest cost but it could be the most appropriate. Operations: Dr.Pepper has been in business since 1891, since it was introduced to the market a total of 11 variations of the product have been produced. If a new variation of the drink is introduced to the current production line, changes to resources would not be drastic. Once the product is made into a syrup that is compatible with the current bottling system, adding it to the production line would require very small retooling cost. Cans and bottle with new labels and designs will need to be used so that the product will differentciate. Development: This deparment will be the most affected during the new development of a breakthru product. When making a new product the current resources will need to be rearranged. The ingredients available to the research group might need to be changed and a new recepi develop to manufactor a distinctive drink. Once the new product has gone thru the step of development it will...