The fictional company selected for the study is called XYZ Corp. The latter is an organization that manufactures and sells health and fitness products. The firm’s vision is to support people in living healthier and more active lives. To accomplish this vision, XYZ Corp has several strategies and objectives in place. The first strategy is to develop and sell products that are effective and safe. To achieve this, XYZ Corp has a team of research and development experts who are constantly working to advance available products and refine new ones.
Additionally, all of XYZ Corp’s products are rigorously tested before they are released to the market. The second aspect of its policy is to provide clients with excellent customer service. To realize this strategy, XYZ Corp has a team of customer service agents who should assist clients with any issues they may face. Furthermore, XYZ Corp offers a money-back guarantee on all of its products. The third strategy is to promote a significant approach to living through education and awareness (Yu et al., 2019). The corporation sponsors a number of events and programs each year that are designed to promote healthy living. Moreover, XYZ Corp provides a free monthly newsletter that contains tips and advice on how to live a healthier lifestyle.
There are several objectives that support XYZ Corp’s strategy realization. The first objective is to increase sales of XYZ Corp’s products. To accomplish this, XYZ Corp has a number of marketing and sales initiatives in place. The second objective is to increase customer satisfaction, where the company constantly monitors customer feedback and makes changes to its products and services based on this feedback. The third objective is to improve brand awareness among actual and potential clients. To implement this, XYZ Corp invests heavily in advertising and public relations.
XYZ Corp’s strategies and objectives are developed to help it in terms of meeting its strategies and objectives formulated above. By developing and offering products that are effective and safe, providing customers with excellent services, and promoting healthy living, XYZ Corp is operating to make a difference for customers. The strategies, objectives, and tasks of XYZ Corp are all linked together in order to accomplish the company’s vision. The development and sale of products that are effective and safe are essential aspects, which in turn improve brand awareness and help in meeting clients’ needs. Promoting healthy living through education and awareness helps to increase customer satisfaction and brand awareness.
The tasks of XYZ Corp are all designed to support the company’s objectives. Marketing and sales initiatives serve as a foundation for increasing sales, while customer service initiatives help to improve customer satisfaction. Here, it should be noted that there are several tasks that need to be completed in order to achieve the company’s goals. First, the company should increase sales of its products; to do this, it will need to invest in marketing and sales initiatives. Second, the company aims to improve customer satisfaction by monitoring customer feedback and making changes to its products and services based on the feedback (Hindsman, 2017). Then, the company has to advance brand awareness by investing in advertising and public relations.
Thus, the company’s corporate strategy is to become the leading provider of health and fitness products. This will be accomplished by increasing sales of its products, refining customer satisfaction, and improving brand awareness. Additionally, the company will continue to invest in research and development, which is essential to provide products of the highest quality. This strategy is supported by a number of objectives and tasks that are designed to help the company achieve its vision.
References
Hindsman, A. (2019). How to improve your business strategy and increase growth. Sage. Web.
Yu, H., Shan, J., Boutalikakis, A., Tempel, L., & Balian, Z. (2022). What makes a company “future ready”? Harvard Business Review. Web.