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Next-Generation Brain Controller

Speech for the Business Plan

Trade-off

In line with Porter’s set of laws pertaining to strategic management, a company should concentrate a large portion of its resources on the promotion of new commodities into the market. The company by the name of Six Sense has a similar goal in mind directed at promoting its new creation, Next-Generation Brain Controller (NGB), so that it can cross the threshold into the market. Even though our market has inadequate resources to promote all the other commodities, we have the plan to utilize the restricted resources to facilitate the product to find its place into the market. Because of some factors beyond our control such as the external factors, we are unable to market multiple products at once. Next-Generation Brain Controller being a new product in the market, demands a lot of our time as a company so that we can manage to fulfill the several objectives and goals set by the product.

Our company’s major objective is to develop a competitive advantage so that we can manage to meet the high market competition. This will be achieved through putting extra energy into the new product and participating a lot in marketing activities. Competitive advantage in the market is very important; therefore, through this our product will be in a better position to attract the necessary market share. By means of competitive advantage, the company gets an assurance that NGB gets adequate promotion in the market through innovative and potentially efficient modes of marketing. These include participating in awareness campaigns such as public exhibitions and market fairs that are aimed at providing potential customers with the necessary information about the advantages of using NGB.

According to trade-off strategy, our company will find out both the external and internal situations that may influence our product distribution. In dealing with external factors that are beyond our control, several measures will be strategized to find the best means of achieving the objective and market share. NGB will utilize the contemporary and sophisticated modes of marketing to endorse its performance. More information concerning the product will be received after the product has been used by consumers where they will provide us with feedback concerning the product. This will enable us to improve on weak areas and make the strong areas stronger.

Fit

We will ensure that all the methods and elements used fit together just as proposed by porter’s strategic management. All aspects of production have been put together since our new product is developed by the use of new technology. Due to this, our product has won the trust from the consumers meaning that various demands of our customers will be met. In order for our new product to attract many customers, we plan to keep on upgrading the product by the use of the new technology. Therefore, to achieve this, a market survey will be performed so that we can identify the weak areas of the product through the feedbacks received from the customers.

Continuity of direction

In order for a company to prosper, it needs to have a vision and mission. This is vital as these formulate a clear strategy that is applicable in accordance to Porter’s sixth policy of management. Next-Generation Brain Controller needs to have continuity in order to improve its products to higher levels (Young 56). We intend to have diverse vision, mission and objective and avoid focusing too much on financial matters. This is because an organization will be strained in meeting the demands of the clientele if it bases the continuity of direction on fiscal conditions. A diverse strategy will therefore form a good foundation for an organization to meet such demands to the benefit of the consumers as well as its own.

Works Cited

Young, Paul. Business plan. New York, NY:  Global Media, 2007. Print.