Academic Business Plan
Long Term Strategic Plan of the Introduction of a Torque Tool Product in Ballyneety Manufacturing Services (BMS)
Name
Foundation Course
Tutor
Date
Introduction
There is intense competition generated by the established markets. In such situations, new and innovative strategies for marketing are needed. Establishments, that face these crises, are also developing new products and enhancing the new existing ones. The consumers are also contributing to the situation. As the market for a given product develops over time, the consumers become more discerning and experienced. They look for more benefits from the product before purchasing it. Organizations are, therefore, rebranding their products to meet the need of the consumers. Some organizations however have not changed or appear not to have changed their products at this stage that the marked is evolving at a higher rate. However, the more business re-strategies and rebrands its existing brands, and continues developing new ones, the more it has greater chances of success in meeting the consumer needs. Again developing the production technology will ensure that the company satisfies the needs of the consumers better; hence, beating competition. Introduction of a Torque Calibration rig by Ballyneety Manufacturing Services (BMS) valued at 10,000 Euros will open the market to new products being developed.
Ballyneety Manufacturing Services (BMS) prides itself with history of success and good reputation in the production of rig (Bmsireland.com, 2015). BMS is a leading design and manufacturing company nationwide, specialising in both electronic tools and super abrasives, supplying both to the domestic and international market. The mission of Ballyneety Manufacturing Services (BMS) is that Corporate Social Responsibility (CSR) and sustainability are fundamental, essential features of Torque Company’s operations. The Ballyneety Manufacturing Services (BMS) wishes to conduct its business operations while considering
Name
Foundation Course
Tutor
Date
Introduction
There is intense competition generated by the established markets. In such situations, new and innovative strategies for marketing are needed. Establishments, that face these crises, are also developing new products and enhancing the new existing ones. The consumers are also contributing to the situation. As the market for a given product develops over time, the consumers become more discerning and experienced. They look for more benefits from the product before purchasing it. Organizations are, therefore, rebranding their products to meet the need of the consumers. Some organizations however have not changed or appear not to have changed their products at this stage that the marked is evolving at a higher rate. However, the more business re-strategies and rebrands its existing brands, and continues developing new ones, the more it has greater chances of success in meeting the consumer needs. Again developing the production technology will ensure that the company satisfies the needs of the consumers better; hence, beating competition. Introduction of a Torque Calibration rig by Ballyneety Manufacturing Services (BMS) valued at 10,000 Euros will open the market to new products being developed.
Ballyneety Manufacturing Services (BMS) prides itself with history of success and good reputation in the production of rig (Bmsireland.com, 2015). BMS is a leading design and manufacturing company nationwide, specialising in both electronic tools and super abrasives, supplying both to the domestic and international market. The mission of Ballyneety Manufacturing Services (BMS) is that Corporate Social Responsibility (CSR) and sustainability are fundamental, essential features of Torque Company’s operations. The Ballyneety Manufacturing Services (BMS) wishes to conduct its business operations while considering
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