D1: Evaluate the Appropriateness of Business Information Used to Make Strategic Decisions
947 words 4 pagesWhen a business forms a strategy they are producing a large scale plan with plans to achieve one or more goals set by the business. The factors that affect the plan, in both negative and positive ways, are uncertain. So when making a strategic plan a business will have to take into account all factors and plan for them. Strategy is imperative for a business as not only does it give them a sense of direction and some goals to achieve, but also resources are usually limited so you have to a strategy will help to guide the business and make the best use of the resources that they have. Strategy give the business direction, it helps them to see whether they are over achieving/under achieving and meeting the goals they have set themselves. If a …show more content…
This means they are likely to pass this knowledge on to more employees as they progress.
Marketing covers a wide range of responsibilities within Waitrose. It acts a guide in developing, producing, fulfilling as well as providing products/services for their customers. In a sense it leads other departments within the company, widely helping to generate publicity. Before any decisions are concluded, they must ensure that they have done the correct and relevant market research. All decisions made are made based on the information and research they’ve gathered from their market. i.e. Waitrose has a large consumer base as they are a supermarket. This means that they can cater to a lot of the general public’s needs. However when promoting specific product, the promotion for this must be relevant as well. There are a few main elements that need to considered, these are:
Product: The service or product that you are providing to the customers, what it uses are and who it will be aimed at.
Distribution: This is how the product will be delivered to the customer. Whether it is a collection or delivered.
Pricing: Looking at your target audience and producing a price that is manageable for that selected audience. Also thinking of when people will have more disposable income so they are