Abstract
The company under analysis has been facing challenges when attempting at entering the designated market, which calls for a change in the present framework to planning and execution. Particularly, it is desirable to explore the unique characteristics of consumer culture in the market in question. Additionally, the firm will need to seek merger opportunities in order to explore new horizons and appeal to a wider population. Merger opportunities also provide a chance for the firm to improve the quality of its products and expand the range thereof, thus attracting a range of new buyers. To determine the market value of the organization, one will need to define its share price and multiply it by its stock price.
Entering New Markets: Planning and Execution
As a company enters new territory, it is most likely to encounter a vast array of risks associated with the factors that are inherent to the selected environment. To handle these risks, an organization has to perform a detailed analysis of external risks and the assets that it has in the target environment. Thus, a company can seize market opportunities and take a niche that will allow it to grow and expand. In the firm in question, a different approach toward planning, which involves a more balanced strategy regarding the use of the customers’ needs analysis to define changes in demand, at the same time retaining flexibility.
The process of planning and execution always involves a certain degree of luck when it comes to the management of the execution process, mostly due to the unpredictability of alterations in potential buyers’ demands. When taking the idea of market unpredictability to its extreme, one will have to admit that strategic planning as a notion may need to be replaced with the development of flexibility and adaptability to new market environments. The approach that involves denying strategic planning as a concept and utilizing flexibility as the key asset for surviving in the uncertain economy may not be required for another decade, yet Dough Pizza will definitely have to build the strategies that will allow it to withstand possible rapid changes in the selected market.
The modern global economy provides a vast number of examples of what is ostensibly natural luck, yet is actually defined by a firm’s ability to remain flexible and adapt toward rapid alterations in its niche market. One may need to recall the case of Vestel as the evidence in favor of the necessity to combine planning with the ability to take a chance and use the opportunity that was not included in the initial plan and emerged only after it had been compiled (“Strategic increments that maximize margins: Solvoyo case study of Vestel,” 2014). By emphasizing the side effects that planning myopia may have on a company’s success in the target market, the case in question suggests that an organization should take the unpredictability factor into account when executing its plans and entering a new market.
Discovering a Potential Business Partner
In order to expand into a specific niche market, a company often needs to consider the support of a partner. Indeed, it is very uncommon for organizations to make business decisions in isolation, which means that joining forces with another company is likely to have a positive effect on Dough Pizza’s chances of succeeding in the selected market environment.
When choosing a partner for the company, one should keep in mind that Dough Pizza’s key competitive advantage concerns its ability to utilize the minimum of resources to produce diverse products of high quality. Therefore, it is desirable for the firm to explore the options associated with the use of the best food ingredients in its end products, which is why seeking the support of the firms that will allow promoting the product and establishing the brand is critical.
In order to create a memorable brand image, Dough Pizza will need the support of a business partner that will offer the company enough publicity. Specifically, a local restaurant that is frequented by a large number of citizens and, thus, will be capable of offering an impressive promotion, should be considered. Partnering with a local agribusiness company that produces food of the finest quality may also be deemed as an important step in improving the quality of the pizza, yet the decision to focus on partnership solely as the tool for driving quality forward is unlikely to yield impressive marketing results for the organization. Ideally, Dough Pizza should consider selecting both options as partnership opportunities to maintain its product quality and build brand recognition.
The support of the organization such as Cargill as a business partner ad the supplier of the ingredients of the needed quality should be regarded as crucial for Dough Pizza currently. The company of Cargill’s caliber will help to promote Dough Pizza and elevate its reputation, thus cementing the firm’s public image as the provider of high-quality food (“Pizza dough”, n.d.). While it will still be necessary for Dough Pizza to uphold the set standards of quality and introduce innovative methods for improving it, the organization will receive the boost that will lead to its immediate success in the market.
Additional Methods of Determining Market Value
Defining the market value of an organization allows one to gauge the opportunity for succeeding in a niche of one’s choice when entering a new economic setting. Therefore, for a new company such as Dough Pizza, it will be essential to explore extra opportunities for measuring the value that it may gain in the global economic setting. Using a comparative analysis as the means of evaluating Dough Pizza’s current market value seems quite a legitimate approach since the company needs to have the competitive advantage that measures up to the ones of its competitors.
The introduction of comparative analysis as the strategy for defining the competitive potential of a firm is rather helpful since it allows setting the bar at the required level and determines what tools can be used to increase a firm’s market value. Specifically, the introduction of the selected strategy will help one to advance the organization in its target market and update its present-day approach toward managing its corporate resources.
The resulting change in the management of the company’s financial resources will lead to the creation of opportunities for investing in the areas that currently need immediate financial support, such as the quality management department (Fernández-Gámez, Gil-Corral, & Galán-Valdivieso, 2016). The following positive change in the company’s product, in turn, will entail a rise in the levels of customer satisfaction, thus helping Dough Pizza to gain the attention of new audiences and establish its presence in its target market as the firm with the food of high quality and reasonable prices.
It is expected that the approach for determining marketing value that involves a comparison of the firm to other companies will allow Dough Pizza to increase its efficacy, simultaneously retaining its unique qualities. By exploring the strategies that other organizations utilize to build influence in the target market, Dough Pizza will be able to create an amalgam of its own philosophy and the approaches used by other successful organizations. Thus, Dough Pizza will gain the audience and acclaim needed to take its niche and become a success.
References
Fernández-Gámez, M. A., Gil-Corral, A. M., & Galán-Valdivieso, F. (2016). Corporate reputation and market value: Evidence with generalized regression neural networks. Expert Systems with Applications, 46, 69-76. Web.
Pizza dough. (n.d.). Web.
Strategic increments that maximize margins: Solvoyo case study of Vestel. (2014). Web.