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Custom Yarbrough Marketing Strategy essay paper sample
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In order for Yarbrough to be successful in the competitive market, it will have to articulate its mission as well as objectives which will aid in uplifting its productivity. The mission statement acts as a guide towards achieving its objectives.
Yarbrough Mission
Yarbrough mission is to organize the world’s cleaning service and generate an environment where everyone can access a safe and hygienic environment which does not pose a threat to their health condition.
Company’s objectives
- To provide the residents within the areas where the company operates with relevant information with regard to safety conditions
- To assist customers in appreciating the role of having a safe environment.
- To teach its customers on how to evaluate changes in health environment in terms of cleaning agents.
- To recruit members within the community who will act as underground representatives of the company.
- Reduce the average waiting response when called upon for service.
Financial projection
The following is the financial projection of Yarbrough Cleaning Service
|
Particulars |
Amount |
|
Revenues |
$ 500,000 |
|
Cost of Sales |
$300,000 |
|
Gross Profit |
$200,000 |
|
Accounting |
1,000 |
|
Advertising and promotion |
5,000 |
|
Bank Charges |
10,000 |
|
Compensation & Benefits |
86,000 |
|
Consulting fee |
1,000 |
|
Insurance |
500 |
|
Lease-Facilities |
50,000 |
|
Legal & Professional |
200 |
|
Licenses and Fees |
200 |
|
Maintenance |
400 |
|
Miscellaneous |
500 |
|
Office Supplies |
1000 |
|
Security |
500 |
|
Telephone |
600 |
|
Utilities |
3000 |
|
Website |
1200 |
|
Total Operating Expense |
161, 500 |
|
EBIDTA |
$50,000 |
|
Depreciation |
2,000 |
|
Operating Profit |
$48,000 |
|
Interest Expense |
15,000 |
|
Earnings before taxes |
33,000 |
|
Income taxes |
6,000 |
|
Net Income |
$27,000 |
(Ferrell & Hartline)
Implementation Controls
The following plan outlines how the management will undertake to ensure that everything is effectively monitored
Monthly Plan control: This will include focusing on the objectives and goals and whether they have been realized. This will include having to compare sales target to the actual sales and accounting so as to find out whether there is any discrepancies.
It will also be vital for the management to compare the total sales it has made compared to its close competitors, Jani King, Coverall and Jan-Pro. The sales should also be compared to the global markets. Another element involved in performing the monthly plan control will be to effect efficiency control mechanism. Some of the information that ought to be evaluated includes the input as well as the feedback received from the clients and this forms part of its strategic control measure (Ferrell & Hartline). Marketing audit will ensure that the company is able to evaluate its strengths with regards to the shifting market position.
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