STEP 1: Review the attached Business Plan to launch the Yankee Candle Company t
STEP 1: Review the attached Business Plan to launch the Yankee Candle Company to a storefront in Spain.
STEP 2: Review the attached references.
STEP 3: Edit the Business Plan in accordance with the notes below (also attached in word document format for easier reading).
– No changes necessary to Executive Summary
– Headings should also be in 12-point font and in bold
– Entry strategy is currently in “Company Descriiption” section. It should be moved to the “Marketing Plan” section. Also, include (and reference) the advantages of the Asgary text. You also elaborate on the disadvantages and note how the company could overcome the challenges with the mode of entry chosen.
– What is the organizational structure (flat, hierarchical, division, etc.)? What structure would work best with the culture in Spain (think power distance)?
– Remove tourists as potential customers. Only the local population is authorized.
– Move information about the Spanish appreciation for scented product from the Market Analysis to “Products” section.
– Move information about candle sales in Spain into the “Product” section.
– Move all mention and expound on cultural, legal, and political factors that influence the business should into the “Market Analysis” section.
– “Pricing” information can be included in “Financial” section and discuss tariff implications, disposable income of population, and other factors that influence pricing strategy in more depth.
– The “Marketing Plan” section has requirements not normally considered when you think of traditional marketing. Reference Asgary’s text information here.
– Include any cultural implications from Spanish culture to include the Hostede Model (for example: masculinity score might influence how the marketing of the product) (https://www.hofstede-insights.com/)
– Must cover differences between marketing in the US and marketing in Spain.
– In “Logistics” section, use the 3 resources attached about Global Logistics.
-Add the Logistics references to the reference page
-Update the Table of Contents as required