This executive summary contains the Tiger Shark company main management points. Besides, it addresses the issues pertaining to the targeted customers of the company, the prospective competitors and the allocation of the financial resources. In this summary prospective market expansions are also discussed.
- The Executive Team
The roles in the company are strictly defined:
-Carl is appointed to be the President of the enterprise and his task is to manage daily operations of the Tiger Shark and to guarantee that the managerial and financial operations conducted by the company are in the total conformity with the policies defined by the Board of Directors
-onathan is responsible for the Brand Management and Finance of the enterprise. He develops the branding policy of the firm, the outer insignia of the firm and conducts other activity connected with the brand management of the enterprise
-Josiah is managing the sales and advertising sections of the firm. He is responsible for coordinating the sales teams and generates market approaches and programs.
- The Ways to Accomplish the Goals
The main mission of the Tiger Shark Company is to bring profit to the founders of the firm and to meet the needs of the customers (Mercedes and Workhorse in particular) by creating new hardware units. Apart from this, some of the primary goals of the company are the expansions of the markets (in particular the establishment of the office branch in Shanghai, Chicago and further advancement to Asian and North American Markets.
The keystones of the company success are the industrial design of the produced hardware and the reliability of them. The main strategy is to win the loyalty of the customers, which will be achieved by the policy of dedication and permanent hardware maintenance. In future, instead of having occasional customers, it may be anticipated, that, providing that the policy of dedication is implemented, the firm will enjoy the permanent clients’ base.
- The Product
The firm manufactures hardware. The main output of the company is customized computers. As far as the distinguishing features of the product are concerned, they are industrial design (each computer is manufactured individually in accordance with the specific requirements of the specific client) and reliability (the computers are of top quality and permanent technical maintenance is provided).
- Estimated Market
Considering the availability of the potential customers, the company will concentrate its activity on the markets of the North America and Asia. In order to ensure the effective implementation of these policies, offices will be established in Chicago and Shanghai. The market expansion will be a gradual process, and each market decision will take place in a separate stage.
- Key Projected Financial Data
The finance of the project will be channeled into the different spheres thereto. About 30% of the firm’s finance will be allotted for the establishment of the new branch offices in Shanghai and Chicago respectively. Another 40% of the company finance will be allocated to the manufacturing process and the remaining 30% will be spent on the advertising of the company. The Board of Directors is strongly convinced that this allocation of the financial resources in the most optimal one.
- Corporate Marketing Strategy
In the 1st quarter of the accounting year the targeted customer will be the Workhorse group. The next step, in the quarter 2 will be the analysis of the production capacity of the company. In particular, it will be found out whether the prices of the computers are optimal or shall they be reconsidered ($ 352 for each Workhorse computer and $1542 for each Mercedes and $ 1098 for Traveler Group respectively). In the 3rd quarter the Mercedes and the Traveler Group will be targeted. The main concern is whether the production will be in demand by the customers, however, considering currently employed market strategies, it can be assumed that all computers will be effectively sold to the targeted consumers.
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In order to promote the best sales policy, it seems to be reasonable to hire the most qualified sales managers, among other strategies, and to launch an extensive media campaign advertising the products of the company. In particular, it is planned to conquer 65% of the whole Asian hardware market. In order to achieve this goal the most professional staff shall be hired.
- The product
The product of the company is the customized computers. The computers are designed individually for each customer. The brand name for the output of the firm will be Tera Bytes. This name will be attributed to all our computers, irrespective of the target audience in order to cause the audio visual associations of our customers. The specific characteristics which will be inherent to the hardware will be fastness and powerfulness, the ability to perform multiple tasks, ability to get connected to other computers, big storage capacity and after-sale maintenance.
The prospective customers are three business groups – the Mercedes Group, the Workhorse Group and the Travelers Group. Each customer needs individually designed computers capable of meeting his/her own industrial needs and our task is to serve the client’s needs.
In the nearest future it is projected that the company will operate in Asian and North American markets.
- Current Status and Prospects of the Company
Currently the positions of the company are stable; however, the expansion to Asian and North American markets will substantially contribute to the development and prosperity of the company, assuming the fact that these initiatives will be successful.
- SWOT Analysis
The company has a number of strong and weak points. Among the strong points is the fact that the firm has recently opened two offices while the third one is projected to be opened soon. On the other hand, the two opened offices are located in the smaller and still undiscovered markets. The next strong point is the fact that in the 2nd quarter the next computer will be designed, although it is not clear still how the market will react to the novelties of the industry, in particular, how the pricing policy and quality will be accepted by the customers’ base. The next positive point is that the quality of the computers was welcomed by the Mercedes Group, although, this group poorly rated the advertising approaches of the firm.
The opening of offices in the saturated markets (Paris and other markets, where numerous competitors operate) was promoted by the Board of Directors, although certain apprehension has been expressed. It is questioned by the Board of Directors whether the newly opened offices will be of avail for the companies due to the fact that they are opened either in the saturated or in the undiscovered market zones.
- Future Prospects of the Company
The firm is still a developing enterprise. It is a well-known fact that more than 85% of the initiated enterprises go bankrupt in the first year of their operation. We are strongly convinced that our enterprise will be able to withstand the hardships that pertain to all startup projects. Considering that the projects of expansion to Asian and North American markets will be successfully implemented, in the long term the company may continue its expansion to other markets, for instance South American marker or East European Marker, where a great variety of the prospective customers operate. It must be noted, that with the realization of this policy, the financial strategy of the company must be seriously re-considered. In particular, if the policy will be realized according to the designated objectives and financial statement of the company.
- The Customers of the Company
Currently, the firm addresses the needs of the three companies groups that have been covered in the previous abstracts of this Executive Summary. Special departments of the firm will monitor each client on the individual basis, designing and manufacturing individually elaborated computers.
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In the forthcoming future, with the expansion to European and South American markets, new customers are likely to be acquired by the company, providing that the already specified tasks would be realized completely.
- The Profile of the Competitors
The main competitors of the company are Galileo and Constellation corporations. They operate primarily in Europe, however, it has been numerously reported that these companies recently started to target out potential customers, in particular, certain propositions were reported to have been made to Mercedes Group, Workhorse Group and to Travelers Group. Although our competitors effectively operate in Europe, their performance in North American and Asian markets is seriously disputed. These companies constantly apply new market approaches in order to entice away our existing and prospective customers.
However, it shall be noted that presently these companies cannot compete with us successfully. The reasons are that they neither possess financial resources that we possess, nor they realize the necessity to treat each customer individually and they continue applying common approaches to all clients. As far as the advertising campaigns of our competitors are concerned, the campaign of Galileo is more effective, as Workhorse Group reacted to it, while the campaign waged by Constellation was rated poorly by all targeted customers.