Analysis of distribution channels and marketing strategies
The diversification of new products to the market will require a penetration strategy that will ensure operational success. Diversification is important for the coffee company because it will be able to reach new markets and expand the scope of its operations to other demographics. In addition to this, it will also provide the company with an opportunity to develop a comprehensive growth strategy that will give it a competitive advantage over other players in the market. Market development is a very important process during diversification because it targets new markets for the existing products ( Allweyer & Books on Demand GmbH, 2016) . Consequently, the strategy will enable the company to enter international markets and expand its brands across new global markets.
Creation of new coffee products is very important because it enables the firm to develop a good share in the existing market. Consequently, it can use its brand to introduce new products that will promote business expansion. This procedure is recommended if the company has a good customer base with knowledge of product saturation in the market. At this stage, a good advertising strategy will be very important because it will introduce the new products to potential consumers and provide a comprehensive overview of its brand and use.
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Product diversification is an expensive process and as such, all the required resources need to be allocated. The company needs to analyze whether it has enough resources for the development of new products and modification of existing ones. If the products are not developed internally, then distribution from external suppliers may be considered as a viable option. In addition to this, license agreements can be obtained so that the supply and manufacturing operations can be conducted by other companies. Conversely, an alliance can be jointly developed with a similar company for ease of marketing the new products to the market. It is, however, imperative to note that if the company is in a strong financial position, then it can conduct all the operations internally without outsourcing any services.
Analyzing the distribution channels and marketing strategies is very important because it will determine the overall success of diversifying new products ( Bider & Johannesson, 2005 ). A budget should be set to cater for the development of new distribution channels as well as other marketing costs. The supply chain for this innovation needs to be carefully analyzed to ensure that there are no loopholes in the roll out process. In addition to this, sales and marketing strategies need to be developed to ensure that potential consumers are targeted. The marketing team needs to have proper knowledge of the products and the market to ensure that they achieve the set targets. A review of the retail outlets also needs to be conducted if the process is to be successful. After an extensive research has been conducted and all the processes have been followed, the product can be launched to the market.
Execution of product launch
Identify and supervise marketing teams
Coordinate with team managers
Evaluate performance of the teams
Communicate with senior managers about problems
Work with employees to improve processes
Monitoring the processes
Managing the risks
Reinforcing the success
Diagnosing deviations and taking corrective actions
Monitoring performance of launching new products
Set goals and expectations for the project
Establish plan for and schedules
Establish budget
Establish and improve processes
Provide resources and staff
Successful Diversification
The process management diagram defines the tasks that a manager of a process should oversee to ensure that a project runs smoothly ( Briol, 2008 ). In this case, the management of the coffee company needs to define the responsibilities and scope of the entire project before the products are launched. The diagram provides room for the initial analysis of operational problems in the diversification process. This may occur if employees are improperly trained thus, hindering their ability to conceptualize their responsibilities correctly. Consequently, they will fail to give proper feedback regarding the issues arising in different market segmentations. The diagram therefore provides room for the management team to address these issues and ensure the products penetrate to the market successfully. In addition to this, the diagram also plays a key role during the roll out of the new products. It provides the company with a broader scope of change management and defines how a project manager would oversee the implementation of new products and processes within the firm. In other words, this diagram outlines the job descriptions, communication processes, monitoring and reinforcement of corrective actions to ensure the new products are successfully integrated to a broader market ( Bider & Johannesson, 2005 ).
These diagrams are very important because they align the operations of a company with new business strategies. They enable an organization to implement and modify new processes by developing a change in the employee functionality and daily operations ( Holt & British Computer Society, 2009 ). Consequently, the validity of a project will be determined if operational efficiency is improved in the business environment. The benefits of using these diagrams should come with a competitive advantage over other key players in the market. This will display the company’s investment in time and effort to improve its business processes.
References
Allweyer, T., & Books on Demand GmbH. (2016). BPMN 2.0: Introduction to the Standard for Business Process Modeling .
Bider, I., & Johannesson, P. (2005). Goal-oriented business process modeling . Bradford, England: Emerald Group Pub.
Briol, P. (2008). BPMN: The business process modeling notation pocket handbook . United States? Patrice Briol.
Holt, J., & British Computer Society. (2009). A pragmatic guide to business process modelling . Swindon: British Computer Society.
