Generic Benchmarking Worksheet

Essay by broham112University, Master'sB+, April 2010

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Generic Benchmarking Worksheet

Task A: Problem/Opportunity Statement

Instructions for Task A: In the Response row, write out the problem/opportunity statements for the scenario for each of the team members.

Response to Task A

Plans to expand its business but faces tough challenge from the already established brands. It needs to adapt the audience demand change and apply the same through innovative publicity and expansive policies. The current small product packing and marketing option need to be done away with. A personalized space for product launch with a new look and feel is required. The re affirming product make over and appeal should be commutable to the general crowd.

Generic Benchmarking-The purpose of generic benchmarking is to identify potential solutions to the problem statements defined in Task A. You will do this by looking at how companies in other industries have dealt with similar issues.

Task B1: Generic Benchmarking: Topics

Instructions for Task B1: In the Response row, identify the topics for which you need information in order to identify potential solutions to the problems identified in Task A.

In the Response row, list three to five topics that you will research in peer-reviewed journals, on Web sites, and in popular publications such as magazines and newspapers.

In the Response row, provide a justification for each topic.

Response to Task B1:

Marketing strategy

Expansion plans

Budgetary review

Financial reallocation

Content management

Food contaminant disclaimer

Marketing Strategy:

Disclaimer of the contaminant and the establishment of product adeptness

Identify the methods for the brand spread through promos.

Expansion plans:

Identify the target audience and apply the glitz strategy to pull crowds

Budgetary review:

Aim to re sell the drink with a better attempt on the quality and the requisites.

Aim to invest in profitable zones of the food business with a relatively...