Strategic Plan Essay Example | Topics and Well Written Essays - 1250 words

Strategic Plan - Essay Example Because of this, there is almost nothing organizations that deal in the same merchandise can do to specialize in the market, apart from riding on market forces (of demand and supply) to stay afloat. By being innovative, Joe’s Electric Cigar will be able to come up with unique and customer-friendlier models. This will in turn help the firm realize and maintain its niche in the market, increase its market share and widen the scope of its profitability. By studying the progress of Joe’s Electric Cigar, an analyst also gets the gist on the importance financial goals and preparations. This is because Joe’s Electric Cigar is a fledgling organization with minuscule financial resources, albeit the operations of this firm are financially very demanding. Thus, Joe’s Electric Cigar presents an ideal case study on the essence of management and financial planning as key ingredients to success. III. General Company Description Joe's Electric Cigar is a company that was formed in 2000, with a multipronged purpose: satisfying the needs of the clientele; abating environmental pollution; and assuaging health complications that accompany smoking. While all these multipronged aims of Joe's Electric Cigar (JEC) are geared towards helping smoke addicts quit smoking in a healthier manner, they ensure that the feat is exacted in a healthier and hygienic manner. JEC ensures that it achieves this hydra-headed feat by introducing into the market, an electronic cigarette, a personal vaporizer or an electronic nicotine delivery system. An e-cigarette is an electronic inhaler which simulates and thus acts as a substitute for tobacco smoking. This equipment uses a heating element which vaporizes a liquid solution to release either a flavored vapor, or nicotine. These e-cigarettes are designed like cigarettes, to allow them to mimic conventional smoking implements such as cigars and cigarettes, in their appearance or use. IV. Products and Services JEC has simply sp ecialized in the making and selling of electric cigar, meaning that the products that JEC deals in, and seeks to distribute in the market is solely, the electric cigar. However, the provision of electric cigarette in the market is characterized by an attempt to diversify the brand by including e-cigars, electronic delivery systems and personal vaporizers, alongside the provision of electronic cigarettes. V. Marketing Plan JEC intends to increase its market share and curve itself a niche in the market by introducing and bringing unique merchandise into the market. The introduction and maintenance of e-cigars which have a touch of uniqueness is in turn to be realized through the reinvention of the design of Joe’s electric cigar/ cigarette. This involves remodeling the cartridge so that the sponge which holds the liquid in place is totally eradicated. In light of this, in place of the sponge holder, there is a tank which holds the fluid and connects the atomizer with another tun nel. Some of the ways through which the reinvention of JEC’s e-cigar model helps JEC strengthen its hold in the market are: the