Question

Choose a small or medium sized business related to any one of the following:

1. Foodpanda

1. Suggestion of an optimal strategy to be adopted by your chosen business. Use any ONE of the strategy generation tools that you learn in the course followed by a matrix to choose the optimal strategy.

2. Objectives for your strategy (which support the vision and mission of the business). Remember that
objectives must be specific, measurable and timely.

3. A minimum of one action plan for your chosen strategy. This includes policies, budget and timeline to implement the strategy. For example, if your optimal strategy is market penetration, instead of preparing action plans for all media advertisement and roadshows, you may concentrate on print ads only.

Answer 1

For Food panda, an optimal strategy could be market penetration, which involves increasing market share for existing products or services. Objectives for this strategy could include increasing market share, customer loyalty, and brand recognition. An action plan could involve targeted marketing campaigns, special promotions, and improved customer service.

Step-by-step explanation:

For your chosen business, Food panda, an optimal strategy could be to focus on market penetration. This means increasing market share for your existing products or services in your current target market. Objectives for this strategy could include achieving a certain percentage increase in market share within a specified time frame, increasing customer loyalty and retention, and improving brand recognition and awareness. An action plan for market penetration could involve implementing targeted marketing campaigns through print ads, offering special promotions and discounts to attract new customers, and improving customer service to encourage repeat business.