7-2 Project Submission

/in /by

Get quality term paper help at Unemployedprofessor.net. Use our paper writing services to score better and meet your deadlines. It is simple and straightforward. Whatever paper you need—we will help you write it!


Order a Similar Paper Order a Different Paper

In this project, you will demonstrate your mastery of the following competencies:

  • Determine how an organization gains a competitive advantage
  • Determine organizational risk and growth opportunities in order to develop a strategic plan
  • Defend business decisions in support of an organization’s strategic plan

It’s the moment of truth: your opportunity to demonstrate why your new product or service is worth funding. You have done the research and know that the funding you seek can be a game changer for the company. Not only will it produce revenue and profitability, but more importantly, it will strategically set the company apart from its competition.

You just have to convince senior management.

In preparation, you have created a checklist for yourself to use in compiling information that includes research, feasibility of the idea via the BMC, scope of project (timeline included), project risk mitigation, DEI, CSR, and 24-month pro forma.

You know that anything can happen in a funding pitch. With this in mind, you are prepared to answer questions that encompass all aspects of the project.

Create a pitch for funding. In this pitch, you will have to convince senior management to greenlight the new product or service. Aspects of the pitch that must be addressed:

  1. Value proposition: Describe the company’s current value proposition in the market.
    1. Describe the selected company’s main product or service.
    2. Discuss the company’s overall strategic plan.
  2. Competitive advantage: Describe the competitive advantage the company will gain by funding the project.
    1. Describe how you discovered an opportunity to do something better than your competitors.
    2. Determine how the new product or service shifts the value proposition of the company.
  3. Risks and opportunities: Establish the risks and growth opportunities of the company.
    1. Determine if the new product or service could disrupt the current industry.
    2. Identify the risks associated with the development of this new product or service.
  4. Growth opportunities: Describe the areas of potential growth for the company.
    1. Identify the growth opportunities within the company.
    2. Explain how the competitive advantage allows for growth.
  5. Distinguish as a new product or innovation: Distinguish the new product/service as an innovation or improvement on an existing product/service.
    1. Determine if the product or service fits within the capabilities of the company.
      Note: a company’s SWOT analysis or 10-K is an indicator of whether the new product or service could be feasible.
    2. Explain how the new product or service adds to the portfolio of the company.
  6. Target segment: Describe the targeted segment.
    1. Identify the target customer.
    2. Explain your blue ocean strategy.
      Note: The new market is identified here.
  7. Speculate sales: Speculate on the projected sales.
    1. Justify your product or service by the numbers; discuss your projected revenue gain.
      Note: it MUST have an ROI that justifies the project for investors and/or senior management.
    2. Explain the risks associated with projected sales.
  8. Speculate profitability: Speculate on the profitability of your proposed product or service.
    1. Determine if the project is profitable.
      Note: In this pitch for funding, senior management has to know that the project, based on market research, is speculated to be profitable. Use the company’s current income statement to project how the company’s profitability will be affected. Look to other companies in the marketplace with products or services similar to the one you are proposing as a basis for your projections. Note: these numbers are purely speculative.
    2. Determine the impact on the functional areas of the business (accounting, marketing, sales, and so on).
  9. CSR plan: Outline the plan to service the community or customers that purchase the product or service.
    1. Discuss how the idea demonstrates corporate social responsibility (CSR).
    2. Identify what the company has invested in as it relates to the communities they serve.
    3. Discuss how a good CSR plan helps the company gain competitive advantage.
  10. DEI plan: Summarize how the project will include a variety of perspectives to get a better unique value proposition.
    1. Determine if the company has a corporate culture built on DEI.
    2. Discuss how the project’s DEI plan fits into the company’s overall strategic plan.

Your script should be written as if you were delivering the speech, submitted as a 7- to 8-page Word document. Sources should be cited according to APA style. 

PROJECT OUTLINE for Product Assortment Planning for Walmart 3

Project Outline: Product Assortment Planning for Walmart

Jacob Wright

Southern New Hampshire University

BUS-400: Driving Business Opportunities

Professor Winkelhake

10 September 2023

PROJECT OUTLINE for Product Assortment Planning for Walmart 1

About Product Assortment Planning

Walmart is famous for its broad range of goods and services. To improve service quality and market leadership, the organization must optimize its product assortment approach. This initiative seeks to improve Walmart’s product assortment planning, which carefully selects quantities of products for customers. The goal is to personalize shopping to enhance sales and profitability. This program supports Walmart’s commitment to continual development and customer-centricity in the changing retail market.

Goals

· To simplify and improve the product selection offered in Walmart stores, online, and through the newly introduced delivery services.

· To do this by providing a well-selected range of items that are tailored to the requirements of the target audience.

· To adjust to the ever-shifting economic conditions and to enhance overall financial performance.

Target Customer

The intended consumer base for this project is purposely broad and diversified, including customers with different interests and demands. Walmart knows it must appeal to this varied clientele with its product range. Targeted client segments:

Budget-Conscious Consumers: Walmart is known for inexpensive daily things. This initiative aims to improve shopping for budget-conscious families and individuals. Value-driven shoppers want a broad selection at low costs (Van Loo & Aggarwal, 2023). Walmart wants to remain the budget-conscious customers’ first option by refining its product range.

Families: Families searching for one-stop shopping have always favored Walmart. Families trust Walmart to effectively satisfy their grocery, housekeeping, clothes, and other purchasing requirements. This initiative understands the significance of catering to families by offering a wide range of products that ease shopping and enhance the experience.

Tech-Savvy Shoppers: Tech-savvy shoppers want ease and innovation in the digital world. Walmart’s GoLocal drone delivery and online shopping alternatives attempt to attract this sector (Staff, 2023). This tech-savvy client base appreciates smooth digital interactions, and the initiative keeps Walmart ahead of its changing expectations.

Value and Quality Seekers: A large chunk of the market buys value and quality. Walmart will prioritize high-quality, affordable items in its product assortment strategy. Walmart can attract value- and quality-conscious consumers by creating an inventory that meets their needs. Walmart’s product assortment planning strives to create a shopping environment where everyone can discover items that meet their demands by deliberately addressing these varied consumer categories’ wants and preferences. Inclusivity boosts sales, customer happiness, and market competition. Walmart’s success in retail is based on providing a wide spectrum of consumers.

Market Opportunity

Walmart’s large consumer base and worldwide reach make this project’s market potential enticing. Several elements make this opportunity important. Internet shopping and drone deliveries are in high demand. Changing consumer patterns, spurred by COVID-19, have exacerbated this tendency (Alwan et al., 2023). Walmart can address this expanding demand and lead retail logistics technology by offering the GoLocal drone service. Consumer tastes and economic situations change, making retail a dynamic industry. Walmart’s success will depend on its ability to adjust quickly. Walmart can adapt to market changes with this initiative, keeping it current and attractive to a varied client base.

Walmart has an edge in a competitive industry dominated by e-commerce companies due to its massive retail store network. These physical places may execute orders and engage with customers, providing convenience and tangibility. Walmart is strong because it competes with e-commerce titans while using its physical presence (Alwan et al., 2023). The project’s emphasis on maximizing product selection and adapting it to consumer groups helps attract and keep customers. Walmart can increase consumer loyalty and stand out in a competitive market by personalizing and streamlining purchasing.

Financial Opportunity

This initiative gives Walmart several lucrative revenue potentials. Walmart may boost sales by tailoring its product range to meet client requirements. This personalized strategy should enhance sales and maintain growth. The initiative improves inventory management, reducing waste. By reducing overstocking and product obsolescence, Walmart can save expenses and boost profits (Walmart, 2022). A well-curated product range may increase client loyalty and repeat business. Happy consumers who discover what they need are more likely to purchase at Walmart again, providing a consistent cash stream (McLymore et al., 2022). The idea allows online and drone delivery businesses to grow with user preferences. This diversification may boost Walmart’s earnings and present it as a retail innovation. This initiative aims to boost retail market share and competitiveness. While initial profitability may vary, better customer retention and operational efficiency are expected to provide significant financial benefits, making this initiative a critical investment in Walmart’s future.

Timeline

Phase 2 (Months 4-6): Examine client preferences, market trends, and economic situations. Use insights to optimize product assortment.

Phase 2: (4-6 Months): RFID pricing engine and electronic shelf labeling minimize product waste and increase price transparency.

Phase 3 (Months 7-12): Launch GoLocal drone delivery for small and big companies with optimal product selection.

Phase 4 (13-18 Months): Use real-time data and consumer input to improve product selection. Walmart can react to market circumstances while preserving financial stability and consumer pleasure using this timeline’s progressive, data-driven approach to change.

References

Alwan, S. Y., Hu, Y., Al Asbahi, A. A. M. H., Al Harazi, Y. K., & Al Harazi, A. K. (2023). Sustainable and resilient e-commerce under COVID-19 pandemic: a hybrid grey decision-making approach.
Environmental Science and Pollution Research,
30, 47328–47348. https://doi.org/10.1007/s11356-023-25456-0

McLymore, A., Cavale, S., & McLymore, A. (2022, August 11). Focus: Inflation steers budget shoppers away from Walmart. Bringing them back may not be easy.
Reuters. https://www.reuters.com/business/retail-consumer/walmarts-long-lasting-challenge-luring-budget-shoppers-back-its-stores-2022-08-11/

Staff, S. (2023).
Walmart attracts budget-conscious customers, and remains strong in Q2. In Business Madison. https://www.ibmadison.com/walmart-attracts-budget-conscious-customers-remains-strong-in-q2/

Van Loo, R., & Aggarwal, N. (2023).
Amazon’s Pricing Paradox. Social Science Research Network. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4436546

Walmart. (2022).
Purpose. Corporate – US. https://corporate.walmart.com/purpose

1

3-2 Milestone One Submission

Jacob Wright

Southern New Hampshire University

BUS-400: Driving Business Opportunities

Professor Winkelhake

16 September 2023

Introduction:

Ladies and gentlemen of the senior management group, I appreciate the opportunity to discuss an idea that holds great promise for the future of Walmart. Today, I will introduce our Product Assortment Optimization program to improve our product selection approach for our diverse consumer base. This project aligns seamlessly with our strategic plan and objectives.

How it fits:

Walmart’s corporate strategy is based on customer-centricity and our objective to offer a wide range of high-quality products at low rates. A strategic synergy that promises to elevate our brand’s retail excellence is created by the Product Assortment Optimization project’s flawless integration with these guiding principles. This initiative provides as a timely and insightful response in a retail landscape characterized by dynamic transformations and the ever-evolving expectations of our varied client base. This strategy shift recognizes that adaptability and client responsiveness are key to our success. This effort enables us to customize our product range based on our customers’ needs and preferences. It bolsters our mission while fortifying our agility in the ever-changing landscape of modern retail.

Speculation on Company Capabilities:

To embark on a project of this magnitude, we have diligently assessed our capabilities and affirmed our readiness to execute it with precision. Our exhaustive research, which drew insights from reputable sources such as Marketline.com, Yahoo Finance, and our investor relations pages, is the cornerstone of our confidence.

Our findings leave no room for doubt—this initiative is a seamless fit within Walmart’s legacy of adaptability. We have thrived and excelled in navigating market shifts, and this project aligns perfectly with our proven ability to evolve with the times. Leveraging our formidable resources and unparalleled global reach, we stand uniquely equipped to address the ever-evolving demands of our diverse customer base.

Our ability to harmonize our extensive physical presence with cutting-edge digital solutions truly sets us apart. This distinctive capability positions us as a leader and a trailblazer in the fiercely competitive retail landscape.

Justification:

We anticipate this initiative will result in a substantial annual revenue gain for Walmart. Based on our projections and market analysis, we estimate an additional $2.5 billion in annual revenue due to the optimized product assortment. This figure is derived from the expected increase in sales, particularly in high-demand product categories. The revenue gain that we anticipate stems from several key drivers. Firstly, offering a more personalized and curated product assortment will enhance customer satisfaction and loyalty, ultimately driving sales growth. Secondly, our improved inventory management minimizes waste, reduces product obsolescence, and will lead to cost savings. These factors will contribute to an improved profitability outlook when combined with increased sales.

The return on investment (ROI) is a pivotal aspect of our justification, as it provides a concrete measure of the project’s financial viability. While exact ROI figures will naturally evolve over the project’s lifecycle, our preliminary estimates suggest an impressive 20& ROI potential over a conservative five-year period. We estimate an initial investment of $500 million required for the launch and implementation of the project. This projection is grounded in our analysis of anticipated outcomes, including increased sales, cost savings in inventory management, and improved supply chain efficiency resulting from the optimized product assortment planning. A 20% ROI over five years demonstrates a compelling business case for moving forward with the initiative, suggesting that the benefits will significantly outweigh the initial investment.

Enhancing the Mission:

This initiative projects profitability and directly enhances our company’s overall mission. The Product Assortment Optimization project aligns with Walmart’s mission to “save people money so they can live better.” It achieves this by offering a wider range of quality products at affordable prices, enhancing the overall shopping experience for customers (Zacks Equity Research, 2023). Recent reports also demonstrate that our store renovations and smarter store initiatives have yielded robust comp sales, indicating profitability (Zacks Equity Research, 2023). This project reinforces our mission and ensures we meet customer needs while driving growth.

Conclusion:

In conclusion, Walmart’s Product Assortment Optimization project aligns with our mission and strategy, leverages our strengths, and promises significant revenue benefits and ROI. It reinforces our customer-centric strategy and positions us for retail leadership. Our success depends on this initiative’s focus on profitability and retail excellence. Thanks for your time, and I welcome questions and discussions regarding this exciting project.

Reference

Zacks Equity Research. (2023).
Walmart (WMT) Continues to Stand Strong: Stock Up 20% in a Year. Yahoo Finance. https://finance.yahoo.com/news/walmart-wmt-continues-stand-strong-125700184.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJcPCJPmZ-EnqMR4vA-0tN8N0s5tSTM37gR1NDSzQVgmIvwetPNIK9itRHeXxVJDEm115inmb4T9q6nZsf09XbEMrJsTWBULIHU3p-l3UxFbzbfpc77IQ13sR0D9nMC-263ZE09qbYgacLocYceLKYWfT4Ff134XASZkQJhzm7jc

Business Model Canvas Template

Key Partners

Logistics and transportation partners

Technology and software providers

Marketing and advertising agencies

Regulatory and compliance authorities

Financial institutions and banks

Research and development collaborators

Franchisees or third-party retailers

Key Activities

Data Analysis and Market Research: Gather and analyze customer data and market trends.

Assortment Planning: Develop a tailored product assortment strategy.

Inventory Management Implementation: Integrate RFID pricing engine and electronic shelf labeling.

Product Curation and Selection: Curate products based on market demand.

Key Resources

Data Analysis and Market Research: Data analytics tools.

Assortment Planning: Cross-functional teams.

Inventory Management Implementation: Technology infrastructure.

Product Curation and Selection: Supplier collaboration.

Launch GoLocal Drone Delivery:

Value Proposition

Wide product selection: Offering a vast array of products across various categories to meet diverse customer needs.

Everyday low prices (EDLP): Providing consistently affordable pricing to save customers money.

Convenience: Offering a one-stop shopping experience, both in physical stores and online, for added convenience.

Quality assurance: Ensuring high-quality products to build trust with customers.

Customer-centricity: Focusing on customer satisfaction and needs, tailoring product offerings accordingly.

Customer Relationship

Assumption 1: Customers prefer personalized shopping experiences and are willing to share their data for tailored recommendations and promotions.

Assumption 2: Effective customer support and issue resolution contribute to higher customer satisfaction and long-term loyalty.

Channels

Walmart’s primary sales channels include physical retail stores and e-commerce.

The physical retail stores serve as the core channel for in-person shopping.

E-commerce includes both the official Walmart website and mobile app.

Walmart also utilizes third-party online marketplaces to reach a wider audience.

Customer Segments

Budget-Conscious Shoppers

Families and Households

Tech-Savvy Consumers

Value and Quality Seekers

Online Shoppers

Business and Bulk Buyers

Cost Structure

Labor Costs: Assumed to include salaries, wages, benefits, and training expenses for employees.

Inventory Costs: Covering the purchase, storage, and management of products in stock.

Overhead Costs: Including rent, utilities, maintenance, and other facility-related expenses.

Marketing and Advertising Costs: Budget for promotional activities, advertising campaigns, and marketing materials.

Technology and IT Costs: Expenses related to software, hardware, and IT infrastructure.

Supply Chain and Logistics Costs: Covering transportation, distribution, and warehousing.

.

Revenue Streams

Sales of physical products or goods

Subscription-based services or memberships

Licensing or royalties from intellectual property

Advertising and sponsorship revenue

Affiliate marketing or referral fees

Rental or leasing income

1

[removed]

BUS 400 Module Six Assignment Template
24-Month Pro Forma

Previous Fiscal Year

24-Month Projections

Sales

$2,500,000

$3,200,000

Cost of goods sold

$1,300,000

$1,550,000

Gross profit

$1,400,000

$1,650,000

Selling expenses

$450,000

$550,000

Administrative expenses

$350,000

$350,000

Total operating expense

$740,000

$900,000

Income from operations

$605,000

$750,000

Other income

$50,000

$60,000

Income before tax and interest

$655,000

$810,000

Other expense (interest)

$73,000

$80,000

Income before income tax

$585,000

$730,000

Income tax expense

$156,000

$190,000

Net income

$429,000

$540,000

Explanation of Assumptions

The 24-month financial projections are based on several key assumptions. Sales projections were developed by analyzing historical sales data, considering market trends, and factoring in expected growth rates (CFI Team, n.d.). The cost of goods sold is estimated to increase proportionally with the anticipated growth in sales volume while maintaining the current cost structure. Selling and administrative expenses are projected by considering current operating expenses, expected inflation rates, and any planned investments in marketing and administration. These assumptions collectively form the basis for income from operations and other income projections, while interest expenses are calculated based on current debt levels and prevailing interest rates. Applicable tax rates and tax planning strategies determine income tax expenses. These assumptions provide a reasonable basis for the 24-month financial projections, with the understanding that actual results may vary due to unforeseen circumstances and market fluctuations.

References

CFI Team. (n.d.).
Financial Forecasting. Corporate Finance Institute. https://corporatefinanceinstitute.com/resources/financial-modeling/financial-forecasting-guide/

image1.png

Writerbay.net

Our affordable academic writing services save you time, which is your most valuable asset. Share your time with your loved ones as our Unemployedprofessor.net experts deliver unique, and custom-written paper for you.

Get a 15% discount on your order using the following coupon code SAVE15


Order a Similar Paper Order a Different Paper