Team Chester Executive Summary The Chester team will produce a competitive edge by incorporating attributes and features that set a company’s product offering apart from rivals in ways that buyers consider valuable and worth paying for. Research and Development (R&D) We will maintain a product in each segment to the best of our ability and we will offer customers products that match their ideal criteria for positioning, age, and reliability. Marketing We will spend aggressively in sales and promotion in all segments.We want every customer to know about our great products and make it easy to find them. Production We will grow capacity to meet the demand that we generate. After our products are well positioned we will investigate modest increases …show more content…
We invest heavily in total quality management to improve productivity and we engage in competitive labor negotiations trying to find a balance between fair wages and company profitability. Environmental Analysis Customers in the Low tech market had specific buying standards that they were interested in for the sensors they purchased. They mostly paid attention on price but they were also interested in age, reliability and positioning of the products. The customers within the High tech market also had specific buying standards but they were more fixated on positioning while age, price and reliability were not being as significant to them. Round 1 – ending December 31, 2015 In this round we decided to move in a more conservative way. We didn’t spend a lot of money in R&D or Marketing, we decided to keep Production to a minimum as well. In the Finance, we decided to take a small long term loan and give a dividend of 1.0 to the shareholders. Round 2 – ending December 31, …show more content…
For this round we kept being conservative only making a few improvements in our products trying to keep close to our buyers’ criteria. We made a few more investments in promotion and sales budget. In Production we made minor improvements to our stocks and automation. Our policy regarding Finance remained the same. Round 3 – ending December 31, 2017 The fact that we did a few minor improvements to our stock was visible but we still run out of stock and so we decided to increase production from that point on. We made again a few minor improvements regarding R&D so that we could catch up with people’s needs. We kept our promotion and sales budget at the same level as last year. We decided to invest in every TQM function. Our Finance started getting better from last year and so we decided to take a small amount from the long term loan, our dividend was at 0.5 for this year as it was for the last. Round 4 – ending December 31,