Naming Your Company: When you decide to name your company, please keep in mind y

Question

Naming Your Company: When you decide to name your company, please keep in mind your company is in the business-to-business market, the B2B if you will not be selling to individual consumers.

Writing Your Company’s Mission Statement: What is your company’s purpose for being in existence? What capability does your company have that makes it stand out. What memorable message do you want your customers to remember? Keep your message short, memorable, and truthful.

Strategic Direction: You need to give significant thought to the strategic direction and goals of your company. Don’t try to “boil the ocean” by having your company be everything to everyone in every market. Instead, narrow your focus where you see the best, most profitable areas of business, as well as the most growth.

Selecting your First Two Market Segments: There are three possible Market Segments, Mercedes, Workhorse, and Traveler. Again, these are market segments, not actual products. Select your two Market segments where you perceive the greatest opportunities.

Product Design Microsimulation: Be sure to run the Product Design micro simulation from your game page. This micro simulation will help you understand the importance of designing products based on the features customers want, not necessarily your own preferences

Explanation / Answer

Company Name - Blueline Chips Private Ltd.

The company sells microprocessor chips to desktop and laptop companies and has an expertise in building high speed and long lasting chips.

Mission Statement - To give our customers best in class computer chips which are modified to their needs and are ready to be assembled.

The mission statement's most important and memorable point is its ready to be assembled point. This ensures that the buyer knows that the chips are modified according to their specifications and fits the standards provided by them perfectly. Our strength is in making chips that stand up to customers demands.

Strategy - The company would focus on these three strategies specifically:

1) Our main focus would be on providing high speed chips. There are tons of competitors that provide high capacity chips. We have no reason to compete in an already saturated market, and therefore we would compete in the high speed segment.

2) We would focus on customers needs. We don't want to get into the business of mass production by producing same product again and again. The only thing that remains same across all our chips is the high speed. Rest is based upon our customers specifications.

3) We are not interested in providing cheap chips to our customers. We would use the best of the best materials to make our chips. We would be charging fair price for that (not high price just because of good quality), but by no means are we a low cost chp provider.

Market Segments - Two market segments are:

a) Mercedes, because we are providing high quality, high speed chips suitable for people who want to experience premium quality

b) Workhorse, because of the speed. It would help people in working for long hours continuously and speeds that are unmatched.

Related Questions

Navigate

• Browse (All)
• Browse N
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.