Ops M1
Running head: jld, llc: comprehensive business Plan 1
jld, llc: comprehensive business Plan 2
Final Project: JLD, LLC. Comprehensive Business Plan
Table of Contents Final Project: JLD, LLC. Comprehensive Business Plan 7 Context 7 Branding and Idea Context 9 Corporate Mission and How the New Product or Service Aligns 9 Need 11 How the Product Will Be Marketed Internally and Externally 11 How the Company is Differentiating from Competition………………………………..12 Alignment of Pricing with Market Position and Corporate Mission………………..…13 Defining Product or Service Need………………………………………………………...15 Strength and Weaknesses 17 SWOT Analysis……………………………………………………………...………….17 Emerging Consumer Trend……………………………………………………………21 Ethics Violation…………………………………………………………………………22 Core Competencies 22 Pricing……………………………………………………………….…………………..24 Refinement……………………………………….…………………………..………….25 Evaluate the Success……………………………………………………………………25 Feedback Loops…………………………………………………………….…………..27 Other Factors……………………………………………………………..…………….29 Conclusion………………………………………………………………………………30 References 33
Executive Summary
JLD, LLC. Is an Albany, GA based trucking company that aims to be one of the largest trucking company in the world. The services that JLD, LLC. Will be launched on a global scale. JLD, LLC. is focusing on the general freight and distribution sector. These particular sector was chosen due to the growth prospects of everyday customer needs of a variety of products. JLD, LLC. has launched a new service called TrackUs to help increase the uptime of operations for truckers and distribution workers.
Our Mission
JLD, LLC. cooperate mission is ‘To provide tracking services for cargo movement and delivery by providing the best monitoring techniques to provide a safe transit of your goods from a global standpoint. TrackUs is going to be used with the General Freight trucking industry both at present and in the future operations.
Services
JLD, LLC. Has launched a new services product for truck and freight companies as well as the warehouse and distribution centers that houses the products. The name of the new service that will be offered is called TrackUs. JLD’s services will be appealing various industries with their products.
The software for TrackUs is an easy ready to use application that will be downloaded into the tablets that are already installed into trucks. For the warehouses the application can be accessed from the computers at the warehouse.
Management
Marketing
JLD, LLC. is a customer-driven organization looking to become one of the largest trucking of the world. JLD, LLC. will market their services through various media advertisements. The audience that we are targeting are the warehouse and trucking companies. The world revolves around technology and social media. Social Media will be primary marketing segment. Then we will have commercials on the television and radio that will advertise our services. Also JLD, LLC. will offer our services to our existing customers and they can spread the word to other companies.
Financial Projections
Based on the size of the general freight market and the location of our company our sale projection and new service for the first year will be $440,000. The salary for each co-owner will be roughly $42,000. The company will hire an additional two trained staff to help operate our existing business with the general freight and help promote our new service. Also we will hire IT Specialists that will install the software for the potential clients and also train clients on how to operate the new application. JLD, LLC already have service commitments with other clients and is looking to expand to additional cliental.
Final Project: JLD, LLC. Comprehensive Business Plan
Context
The General Freight trucking deals with the handling and the transportation of the different types of goods by the use of the containers or the van trailers (IndustriusCFO, 2015). The services which are being provided by the general freight trucking industry includes the local pickup, local delivery, local sorting, and the destination sorting among others (IndustriusCFO, 2015). These services are being offered both at the long and the short distances. The short distances are the ones which are local and are supplied within the metropolitan area. The long distances of the freight trucking are composed of a track loading less than a track loading (IndustriusCFO, 2015). Truck loading are the full and the single loads which moves direct from origin to destination. The less than truckload trucking is comprises of multiple shipments that are on a single track.
The business name that is to work with this is the JLD, LLC. JLD, LLC is rising trucking company with the service which aims at meeting more needs and the desires of the clients. The service from the company is application by the name of TrackUs. TrackUs is a service which will enables the both the industry and the respective parties which receives the cargo to be able to track the destination and the location of the cargo at warehouses and distribution centers.
The TrackUs is an application which is used to provide the services in the general freight and distribution sector. The services are provided both to the customers and the industry. It enables the cargo being transported to be tracked and the current location.
Also TrackUs will be used at warehouses and distribution centers. The system will give truck drivers a general idea if the products they are picking up will be ready once they reach the warehouse. The system works by allowing the user to create an account. After an account has been created by the user he or she is able to locate the driver together with the current location. Besides, the administrator we will be able to see both the driver and the consumer.
Due to this functionality of the system, security of the system is well maintained. Because of the monitoring from both the administrator and the consumer, the rate of the lost goods is highly minimized. Once TrackUs is launched it will cut down stall time for the drivers. At most distribution centers once truck drivers reach the warehouse the loads do not be ready and they have to wait sometimes two to three hours before they get loaded up. This causes drivers to lose out on time to deliver because once a trucker starts their driving clock for that day it has to continue running. A truck driver is only able to operate a truck for 11 on duty hours a day. The TrackUs application is beneficial for the drivers and warehouse workers. Besides, it also increases the assurance of the customer on the goods to be delivered. This increases the customer satisfaction hence more customers to the industry due to the well provided services.
In addition, the system provides the warning to the administrator concerning any of the issues of delay on the way. This enables them to contact the drivers faster concerning any of the issues that comes on the way. Hence being aware of any of the problems or malfunctions that may occur at the warehouses that is against the normal running of the activities. This also works vice versa with the TrackUs app being at the warehouses.
The warehouse workers will be aware if the truck drivers are running behind due to traffic issues. Also, it is cost effective and increases the productivity of the industry. Furthermore, is helps in the identification of the hardworking employees from the ones who are hard working.
Branding and Idea Context
Branding is the process of promoting the product or the company through the advertisements and other designs of making it known to the public (Wheeler, 2017). It is used to differentiate the product or the services and its identity from the one of the competitor. The main purpose of the branding is to give an image of the service to the customers and it is used to strengthen the market position (Wheeler, 2017). The idea content is the idea of the service together with its content to the organization. Its importance and how it will be of benefit to the organization. In this section we are going to discuss the mission of the application and how it aligns with the organization. Besides, how the application will be marketed, both internally and externally together with aligning it with the market position.
Corporate Mission and How the New Product or Service Aligns
The Corporate Mission is the statement which is used to define the goals of the application to the industry. It is a corporate purpose which is used to drive the cooperation of the organization and drives the company in a particular direction.
From our application the TrackUs, its cooperate mission is ‘To provide tracking services for cargo movement and delivery by providing the best monitoring techniques to provide a safe transit of your goods from a global standpoint.’
The mission aligns fully aligns with the mission as it describes the tracking services which are being offered by the application. The tracking services are from the point where the product is packaged and ready to be loaded on the truck. Also it shows the point of departure from point A to delivery of the product to Point B. Both the administration and the user will be able to see the current location of the driver. This will increase the trust of the customer to the industry. Besides, transportation of the cargo will be safe. Even if something happens on the way, both the administration and the user will be aware of the process and any delays hence convinces and effectiveness.
Besides, it facilitates the security of the cargo as at any instance there is insecurity, the nearest security people will be contacted immediately. As a result of this, there will be saving of the product in case of any insecurity. Also, the ones doing the deliveries will be able to cheat about a certain even as both the administration and the user will be aware. This enhances the transparency of the services to the consumer. Hence, the mission aligns with the service mission because it is a tracking service company.
Need
How the Product Will Be Marketed Internally and Externally
Marketing is the process which is used to bring the product or the service to the market together with its success (Ryan, 2016). The product marketing is important to the organization as it enhances the passing of the messages differentiation of the competition. Besides, it enhances the marketing and the selling of the services in the organization (ThriveHive, 2019). There are different strategies which are used in the marketing of the products both internally and externally.
Internally and externally, the services will be marketed by the use of the social media networks. Example of the social media networks that are used for marketing includes Facebook, Instagram, Twitter, WhatsApp, YouTube, and Skype among others. This platform are very effective in the advertisements as they are used by varieties of people (Ryan, 2016). In todays society the world operates primary by the use of technology. More than ninety percent of the population uses internet. When these platforms are used, most of the population will be aware of the services being offered by the application. We can also create a website for the company where you can create a section that will enable the client to make inquiries (Haider, 2019). The website will also provide information about the company and how the clients can reach us.
The second way of marketing the product is through the promotions. Through the promotions, the services will be made known to the customers through the bronchus and the business cards. Thirdly, the service will be marketed through giving the preview to the service to the customers (Haider, 2019). Because the loyal customers are the important people in the organization, they are among the first people to be given the preview of the service. Through this, they will extend the new services to the other clients who are likely to join the organization.
The fifth way of marketing is by the use of the email marketing. Because most of the consumers uses the emails for the business, sending the advertisements to them through this media it will reach a lot of people. This marketing strategy will be used both internally and externally as all the customers uses the emails (ThriveHive, 2019). The sixth way is through in-store promotions. This is done through the giving reasons for the new service in the organization. The last way of marketing the product is through hosting an event (Haider, 2019). This will be done on the physical locations of the customers as more people will come to the physical location.
How the Company is Differentiating from Competition
Differentiating the service of the organization from services offered by other companies, helps in providing a superior value to customers at an affordable price. Besides, it also helps in boosting the profits and viability of the business. The Company is differentiated from the other competitors in the several ways. First is through ensuring that they give the client the feedback on time on where the cargo has reached. The service will be providing the client with notifications after the set period it. Besides, the service will enable the consumer to know where the driver has reached.
There will be settings for the users to set notifications to alert each party on their statuses. For example, a warehouse worker can set an alert to notify them once the driver is 45 min away from the facility. This enables them to approximate the time in which the product will be arriving and the workers will be ready once the driver gets there to load the truck. All these services are different from the other industries hence increased competition to the organization.
Secondly, our services will be unique as the tracking system will be ensuring that the goods have reached the client when they are secured and they have been delivered on time without any damages. Our system will also be different from the other companies as it will always warn the administrator of the system in case of any problems along the way to delivery. The admin will inform the client on the problems and the team will offer alternate services for the delivery of the products hence more effective and conveniences.
Alignment of Pricing with Market Position and Corporate Mission
The pricing of the system will not be included directly to the price of the product. This is because the system will be put in place mainly to improve the services being provided by the industry to the consumer. Furthermore, the market position of the product will not be affected. This alignment of pricing with market position and corporate mission will not be affected by the system because the system will be developed from the profit received by the organization in order to increase the quality of service being offered. Thus, the market position of the products will be increased because of increased services that increases the customer satisfaction but the same prices of the goods.
Even though the price of the cargo services were to increase, the customers were willing to pay more for the services and the cargo. This is because the service being offered has a lot of importance to both the customers and the organization. These services include the tracking services and the security services.
The services are very efficient and makes both the customer and the organization to be comfortable with the service hence no objection for the increase in the price.
Your Substantiated Opinion of Brand Effectiveness
Branding is used to create an emotional relationship between the clients and the company. Branding ensures high sales and success of the service by making it unique from other services and easily identifiable to the clients. JLD, LLC brand is effective because it differentiates itself from the rest of the service providers. It also, provides with industry with the tracking service that ensures that the clients can follow up on the location of the cargo. This gives the client a sense of security and trust for the service and incase of need to make another transit they will just contact for the service again. In addition, the client can recommend the service to another people. This has made our service very effective.
Through our various social media platforms, we have provided an interface to ensure that the clients and drivers can post their feedback after the service. Also the website provides a section that enables the user to rate the service. Since our services are the best, the ratings are usually very good.
If another client visits the website and notices the positive reviews, they will choose our services. Positive reviews go a long way for businesses to stay at good standings. Calculating the chart of sales before and after this strategy of advertising, before advertising the request of services was low and after the advertising, the request of the services was high.
Defining Product or Service Need
The targeted consumers are mainly located in the United States but the service is offered worldwide. Most of our services are offered to the clients who deal with importing and exporting business. The clients mostly import and export large and small cargo for business. Our work is to track where the truck carrying the products has reached and give the feedback to the client. The product also tracks the progress of the merchandise at the warehouse on whether it will be ready once the driver arrives.
Our services aim at providing convenient, fast and reliable services. The ability of our system to track the trucks anywhere and incase a problem arises like breakdown and loss of goods the administrator is informed and immediate action is taken. Therefore, the security and assurance is fulfilled to the client.
The customer can contact our company through the various social media platforms and also we have provided the cell phone number if the client needs to reach us urgently.
The cell phone number is in our business cards and this is suitable for a first time client but regular customers can reach us for they have saved our business numbers.
TrackUs also will be available in App Store or Play Store so it will be able to be used on mobile devices and tablets. The people that can have access is business owners of trucking companies, warehouses, stores, and distribution centers. Most trucks are equipped with tablets or digital platforms for GPS the app can be encrypt into those devices. This device is not for the use outside of this business sector. For more information, the customers can also go and check our website. Since our company offers tracking service, clients have to create an account in order for them to sign in using the right username and a password to order for the services.
We chose to deal with freight transport companies that involve the physical process of transporting commodities, merchandise goods, and cargo because, most shipping in the United States are done using the freight transport companies. Most of the clients also needed to be assured where their goods have reached and what time they will be reaching the destination.
Strengths and Weaknesses
The TrackUs application is the business service that was implemented to work with JLD, LLC. The application provides the services of tracking the cargo from the departure to the destination of packages and products. This application is also used to track the progress of the loads being ready for departure. Actually this application has many great features for truck drivers and other companies. As a result of this, there is increased customer trust together with the safety of the cargo. In this paper, our objective is to perform a SWOT analysis on the TrackUs application.
In the analysis I will discuss the SWOT analysis of the application, opportunities, threats and the ethical issues, strength and weakness of the affects together with the core competencies.
SWOT Analysis
This is the strategic planning of the methods used to evaluate the Strengths, Weaknesses, Opportunities, and the Treats which are involved in a given project (Gürel, 2017). It is among the tools that is used to within an organization for auditing. The strength and the weakness of the SWOT are the internal factors which affects a business (Gürel, 2017). Opportunities and the threats are the external factors.
Strength
The TrackUs application has lot strengths to the organization. First, it improves the reliability. The application is effective in a way that it increases the reliability and the effectiveness of the cargo transportation through tracking. This reduces the chances of the losing the cargo during the transportation process. Besides, it improves the effectiveness as the client and the administrator can track the luggage to where to have reached hence transparency.
Secondly, TrackUs it reduces the waiting time for truck drivers. Truck drivers will love this application because they will know if their load is ready or not before they get there. The warehouses will also have the TrackUs application so they can upload the progress on whether loads are ready or not. Truck Drivers will alert warehouses when they are in route to the destination for pickup. For example, if a truck driver is going to Warehouse X with a load the driver will alert the warehouse when they are on the way. This will give the warehouse a heads up to have workers on stand by so when the driver gets there they can unload the truck.
This will reduce waiting time by over 50%. This will a pro for drivers and they will love the fact that they will not have to wait that long.
Thirdly, it is scalable. The TrackUs application is performed scalable and meets the unpredictable demands of the user by providing the flexible resources. The services provided enables the user and the administrator to track their services whenever they have reached hence increasing the conveniences and the security.
Fourthly, the application is easy to integrate. Multiple devices from the different devices can be integrated with the other services or the other applications in the organization. Besides, it can also be integrated with the website to increase the number of people to be aware of the application and its services to the community. The application can be downloaded on websites, tablets, and smartphones.
Lastly, the application increases the security of the cargo. Since the application enables the tracking of the cargo to be tracked from any location that the cargo is, any of the inconveniences can be tracked immediately. When this is known immediately by the user and the administrator, the security urgencies are contacted immediately hence securing the cargo being transported. Also, it can be integrated in the cloud for more effectiveness and the reliability. Its data is stored in the cloud hence not losing of the data when the device is lost.
Weakness
One of the major weakness that is found with the use of the application is the network. At some of the places, the network of the mobile might be characterized with the low bandwidth, and the less reliable network. When this is the case, the user and the administrator is not able to access any of the services being provided by the application. This led to the inconveniences as the progress of the cargo is not known to any of the two unless the driver himself. The secondly weakness is the dependencies. The user will depend fully on the services being provided which limits him/her. Thirdly, the application is internet dependable.
Even though the services being provided by the TrackUs application are good, they fully depend on the internet and any outages brings an issues of the services being provided. Lastly, the application is complex to the users who are illiterate. As a result of this, training has to be provided.
Opportunities
There are different opportunities that are being provided by the application. Among them is the new international market. Since we are moving to a digital world, the services being provided by the application fully meets the international market as it based mostly on the development of the new technology. As a result of this, the organization is ahead of the other organizations which increases it competitive advantages since the market has been vacated by the ineffective competitor.
Another opportunity provided is the provision of the new market segment. The new market segments enable the organization to improve it the profits and the revenues.
Because the services are extra ordinary and most of the users likes to know the progress and the location of their cargo for increased security, application enables this hence attracting more customers to the organization. Besides, it helps in merging the joint ventures or the strategic alliances hence improved profit to the organization.
Threats
Among the major threat which can be faced by the organization as a result of the application is the introduction of the tax to the product. Another challenges is the new innovations from the competitors. When the competitors come up with a more complex and improved application, it will pose a major threat to the organization.
Using the SWOT analysis in an organization, the organization should have an aim of turning the weakness of an organization to the strengths. As the threats are identified, the organizations should utilize it and then converts them into the strengths. But this does not stop here, the threats should also be turned into the opportunities. Because of this, the managers of the organization are given an option of matching the internal and the external opportunities of an organization in order to increase the value of the customer and the competitive advantage.
Emerging Consumer Trend
The consumer trends are the habits or the behaviors which are prevalent among the consumers of the goods and the services (Kasriel-Alexander, 2016). It tracks more than what people spend on and buy. The information concerning the trend includes how the consumer uses the product together with how they communicate about they communicate about the brand to the other people. One of the consumer trends is speed. Timeline is very important in the delivery of the best services to the consumer hence the consumer expectation on the speed should be meet (Micah, 2014). Ones the journey of transporting the cargo has started, the application enables the user to know that it has started together with the calculations of the reaching time. At an instant, the user will know the time that the cargo will arrive (Kasriel-Alexander, 2016). This increases the efficiency of the of the transportation services offered. Due to this, the type of the services being provided by the organization are increased.
Another emerging consumer trend from the application is the desire for the self service (Micah, 2014). The application providing the services enables the consumer to interact with the driver himself while knowing his location rather than calling from the central offices all the time. This increases the trust worthy of the customer hence fetching more customers who ends up increasing the profits of the organization.
The last merging consumer trend is the assurance of the security of the cargo. Due to the capability of tracking, when the drive or the cargo is stack for a long time without moving, the security of the driver and the cargo is confirmed immediately (Micah, 2014). This brings a lot of the success to the organization as the security is enhance. Beside, losing of the customers’ cargo is highly minimized.
Ethics Violation
Organizations pay a lot of the concentration to the ethics as it helps in the increase of the awareness together with the impact of the violation to the organization. When the ethics are violated, the reputation of the business is destroyed (McMurrian, 2016).
As a result, this, the organization might end up losing the customers and the employees hence, failure in the organization.
The violation of ethics reduces the success of the business. This is a result of altering the perception of the customer to the company. Ones the perception of the customer has been altered, it will be very hard for them to return it where it was (McMurrian, 2016). As a result of this, the customers will start leaving the organization one by one which ends up reducing the profit of the organization, thus reduced success.
The SWOT and the ethics factors are very important in an organization. SWOT enables the managers to change the weakness into strengths and the treats to opportunities hence increases the competitiveness and the success of the organization. Besides, ethics are very important in a way that they enable the organization to be ethical in all the manner in order to increase of the organization.
Core Competencies
The core competencies are the resources or the strategic advantages of the business which allows competition in a market place (Robles, 2015).
It includes the activities that the company does best in improving the operations and the success of the business. There are a lot of the key competencies, however, the following are the major three key competencies for the organization. First is the commercial awareness. This is where an employer and the consumer wants to understand well how the business works (Robles, 2015).
This helps them in understanding their role within the organization. Whenever an upgrade or the update has been done in the organization, the consumers are made aware of the latest events.
Secondly is the communication for the organization. Excellent communication skills play a wider role in conveying the information to both the employees and the customers in a way that is professional, confident and well understood to nay level of an individual. Besides, it increases the written and the verbal skills hence effectiveness. Lastly is the training. This is where both the employees and the consumers are trained of any new things that comes in the organization (Robles, 2015). In example of the application, the employees and the consumers are to be trained on how to use it to increase the effectiveness and efficiency.
The core competencies mentioned above are not easily duplicated by the competitors because they are being offered depending on the services and the products being provided (Robles, 2015). Besides, this method used varying from one person to another depending on their level of understanding and perception. So, there is no single method used which can be easily copied by the competitor.
Training, communication and commercial awareness well matches with the TrackUs application. This is in a way that the users of the application will first be made known to the services being provided hence awareness. After this, a communication will be made concerning the functionality and the services being provided by the system. When this is done, training will be provided to the individuals that are less literate to improve their literacy. As a result of this, we can see that the service will benefit from all the competencies.
Pricing
The cost of the business are always classified as the fixed cost and the variable costs depending on the static and the fluctuation of the sales volume (Coorperate Finance Institute, 2019). The fixed cost remains the same irrespective of the volume of the services being provided. Example of the fixed cost is the telephone, insurance, and the employees’ services. On the other hand, the variable costs are the costs that are affected by the performance of the business (Coorperate Finance Institute, 2019). Example of this type of cost is the direct labor, taxes, operational expenses and the commission. Let us say that the company is cost $200 to transport one external cargo. For the transportation to be made, the company is incurred $400,000 for the factory space, security, telephone, customer services, and the insurance. Let us look at the cost depending on this level of the industry.
|
Number of cargo transported |
Variable cost per cargo |
Total variable cost |
Total fixed cost |
|
1 |
$200 |
$200 |
$400,000 |
|
500 |
$200 |
$100,000 |
$400,000 |
|
1000 |
$200 |
$200,000 |
$400,000 |
The competitors pricing is the same. However, our organization has the additional services to what others are offering. This includes the tracking services that increases the security of the cargo from the time of departure to arrival. TrackUs also ensures the drivers that they will not be just sitting at the warehouse waiting for product to get ready before it is actually loaded on the truck. Hence, a different to the services which are being provided thus, increased competition.
Even if the market is not charged for the service, they are willing to pay for it if the organization wants to include it. This is because the services which are provided are increase the ethics and the responsibility of the organization. Due to this, they are willing to pay even though the cost is not included. However, the pricing strategy that would have been used is the penetration strategy. This is where the pricing should have started from the low price while raising it later (Kireyev, 2017). As a result of this, the consumer will not complain a lot due to the swift transition of the price.
Refinement
Evaluate the Success
Product or service evaluation is the most efficient way to make sure that a business is always ahead of its competitors. By conducting regular evaluations, a business will know its target market and what they think of their products and services. Evaluating the branding of the new product or service is also important.
Businesses use branding to generate an emotional connection between the specific product/service and the customers. The knowledge behind branding is to ensure success and sales for that particular product or service by making it easily recognisable to consumers.
One way to evaluate the success of our new service and its branding is by determining whether it differentiates itself in the market. Differentiation entails developing various strategies that sets a service and a brand apart from related services in the market. The main idea is to position our service at the forefront of the list. Here, JLD, LLC. will measure our brand’s sales in relation to our competitors’ sales to get a clear picture of its differentiation and position in the market. When customers perceive our service to be better than our competitors, they will consider it worth the price.
JLD, LLC. will also evaluate the efficiency of our new service app called TrackUs to determine its success. Usability is the major strategy for retaining customers and attracting new ones. The ultimate goal of TrackUs is the ability to use it correctly, easily, and quickly.
To measure the service efficiency, we will look at major workflows in our service-anything from account creation, to activation of new features, and evaluate how far customers can get when using the service. Customer frustration resulting from being unable to use the service is a total failure.
Measuring the entity’s branding efforts is also important. We normally conduct direct advertising at regular intervals. We usually do this to remind our customers of our new service. We will carry out a survey to determine the effectiveness of the service’s branding. We will ask questions that include the positioning of the brand in the market and whether the branding strategy is effective (Mourtzis et al., 2015). If the report from the survey concerning the advertising method is negative, we will have to consider other advertising methods.
Measuring the visibility of our new app TrackUs is also important. We will conduct random consumer surveys on a weekly basis to test the visibility of our service. The ideal design for the TrackUs app is to make sure it is user friendly. We want to make sure that each user will be able to operate the application in an easy manner. When customers can identify a new service or product just by its branding campaign, its logo, or any other key feature, that means they clearly recognize the service/product. It is also important to measure the success of our advertising campaigns. We will evaluate the chart sales before advertising campaigns and after advertising campaigns and see if there is any difference.
Our objective is to make everyone know what our application is capable of. The audience that we are targeting are the warehouse and trucking companies. It is very important that the company know what audience to advertise to. The audience that we have targeted we have to know what influence them.
Feedback Loops
Developing a new method or service is a major strategy of market expansion. However, it is not always easy for a new product or service to adapt well in the market.
It is, therefore, important to conduct several processes and use different feedback to support the new product/service and to make any necessary correction.
One regular mechanism that JLD, LLC. will conduct is customer and employee interviews. Our service team will carry out interviews with existing and prospective customers and employees to study more on their needs and their experiences with our service. We will either conduct persona development interviews, usability studies, or customer validation interviews, to name a few. These interviews will provide the major source of feedback because of the depth of studying. If the customers and employees are truthful then this will give our company to make any correction that may need to be changed. We will use the feedback to make the necessary improvement to the application. If there are any changes or input that the customers and employees have JLD, LLC. will consider.
The other mechanism is customer surveys. While interviews allow us to get deepness of understanding of our clients, surveys allow us to scale our feedback process to a bigger market and attain a statistical implication in our results. Customer surveys will take several forms (Field et al., 2016). We can either conduct market surveys on new users or gather feedback from our existing customers. These will allow us to get a clear picture of our service.
Also this survey will be anonymous, and this will give the customers can give us reviews in an honest way without being known.
We will also facilitate regular communication with all employees across all the departments. Employees always have great suggestions on new products or services.
We will conduct weekly meetings to get various suggestions from our workers that can help improve our new service.
This mechanism will be the most beneficial to the company because of the one on one feedback that the company will receive. When we have small talk with the employees we expect for our employees to be 100% truthful. Honesty is very important when it comes to the actual people that operates our TrackUs application.
We will also organize feedback forums. The forums will help us discuss feedback thoughts and the essential way forward. We will ensure that there is a consistent involvement from the service team, customer representatives, and the marketing team that take part in the discussion and also summarizes the feedback that can be used by the service team.
Other Factors
One thing we need to consider to move forward is whether we have adequate resources. It is important that sufficient resources in terms of time, people, equipment, and finance are always in place. This will entail the internal IT unit providing the necessary software/hardware, the human resource department hiring the necessary candidates, or facilities unit providing relevant support. It is also important to ensure that there is enough capital to ensure a constant provision of the service to our customers.
The other thing we need to consider to move forward is whether we have what it takes to keep up with the changing technology. Technology is inevitable as it prevails in every part of our life. It has brought a revolution that will grow as people continue to advance their abilities. As the days go by, technology keeps getting better and better. Companies using the current technologies are more effective and more successful. Technology allow companies to provide their customers with better services and products and keep them ahead in the market (Anderson et al., 2016). Technology keeps workers engaged as it allows them to telecommunicate to work. Technology also increases efficiency. There have been recent remarkable technological advancements. Advancements such as video conferencing are strategically designed to enhance efficiency. If an organization does not keep up with the new technology, then it will suffer a lot. It is therefore, important for us to think of better ways to keep up with the latest technology. With that being said the newest software will need to be used for our product. Training guidelines will be provided to the employees that are not as the savvy as others. This will help them out a lot with understanding how to use TrackUs.
The other thing we need to contemplate to move forward is whether we have what it takes to remain competitive. Blackberry, Yahoo, and Nokia all dominated their market, however, within a short time, they all lost their top status. There is more to a prosperous company than just getting to the top. The challenges are many, and the vital among them is the inability to diversify or create a new trend that aligns with the needs and expectations of the customers. It is not all about developing an excellent model for running the business. The business has to be flexible, ever-evolving, and organic to allow changes.
Another thing to think carefully about is whether we have what it takes to achieve our goals. Goal setting is an essential phase of owning a company. Goal setting could be a great manner to clarify our focus, track achievements, and measure progress. Moreover, goals present a business opportunity to push our limits and take premeditated risks (Sull & Sull, 2018). Business goals also keep a company focused on where it wants to be. Without goals a business may luck direction.
The company’s innovative level is another thing to consider when moving forward. “A strategic vision for the organization will point the organization toward the correct innovation level based on the priorities of the company, how much capital can be risked, marketing reports that indicate a specific direction, and desire of the entire organization to achieve the goal. Many different perspectives are needed, including a measure of risk tolerance and payback time (Miner, 2017).” The only tactic to stay on top of the game is to provide something different to customers. In this world of uniformity, all it takes is simply a tiny component that sets a company apart. Consumers are always willing to pay more when they feel and think what they are buying is worth it. “It is more important that management has a self-awareness to know what level of investment in innovation is in line with the organization’s objectives and budget (Miner, 2017).”
Conclusion
In conclusion, the TrackUs application is of benefit to the General Freight trucking. This is because it will increase the security of the cargo when they are being transported from one part to the other. Besides, it will also increase the customer satisfaction together with bringing more customers to the organization. Hence increasing competition of the industry. More and more truck drivers will be wanting TrackUs to track the progress of their loads at the warehouses. Warehouses will also want this app to track truckers distance from the warehouse facilities. This app will help with the progress of getting merchandise and packages ready for transport. Why not have a product like TrackUs? Every second of the day is precious let us help you make every second count by saving time and being more efficient with the transportation of any companies’ product.
References Anderson, U., Dasí, Á., Mudambi, R., & Pedersen, T. (2016). Technology, innovation and knowledge: The importance of ideas and international connectivity. Journal of World Business, 51(1), 153-162. Coorperate Finance Institute. (2019). Fixed and Variable Costs. Retrieved from CFI: https://corporatefinanceinstitute.com/resources/knowledge/accounting/fixed-and-variable-costs/ Field, M., Jonsson, A. P., & Ehsani, M. (2016). LEARNING THROUGH FEEDBACK LOOPS. Harnessing the Power of Collective Learning: Feedback, accountability and constituent voice in rural development, 220. Gürel, E. &. (2017). SWOT analysis: A theoretical review. Journal of International Social Research . Haider, A. A. (2019). Marketing Management. IndustriusCFO. (2015). NAICS 4841 - General Freight Trucking. Retrieved from IndustriusCFO: https://secure.industriuscfo.com/industry-metrics/naics/4841-general-freight-trucking Kasriel-Alexander, D. (2016). Top 10 global consumer trends for 2015 (pp. 14-17). Euromonitor International. Kireyev, P. K. (2017). Match your own price? self-matching as a retailer’s multichannel pricing strategy. Marketing Science , 908-930. McMurrian, R. C. (2016). Building customer value and profitability with business ethics. of Business & Economics Research (JBER) , 83-90. Micah, S. (2014, December 25). Six Customer Trends That Will Build Or Break Your Business. Retrieved from Forbes : https://www.forbes.com/sites/micahsolomon/2014/12/25/six-deep-customer-trends-that-will-build-or-break-your-business-as-we-enter-2015/#5258d83759a3 Miner, K. (2017, October 29). The Four Levels of Innovation - A Peer-Reviewed Academic Articles: GBR. Retrieved December 15, 2019, from https://gbr.pepperdine.edu/2010/10/the-four-levels-of-innovation/. Mourtzis, D., Fotia, S., & Doukas, M. (2015, September). Performance indicators for the evaluation of product-service systems design: A review. In IFIP International Conference on Advances in Production Management Systems (pp. 592-601). Springer, Cham. Robles, L. &.-R. (2015). Key competencies for entrepreneurship. Procedia Economics and Finance , 828-832. Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers. Sull, D., & Sull, C. (2018). With Goals, FAST Beats SMART. The Strategic Agility Project, 21. ThriveHive. (2019, April 4). 10 Ways to Promote a New Product or Service. Retrieved from ThriveHive: https://thrivehive.com/9-ways-to-promote-a-new-product-or-service/ Wheeler, A. (2017). Designing brand identity: an essential guide for the whole branding team. John Wiley & Sons. .