Create your market forecast and social media advice

Assignment Help Operation Management
Reference no: EM131147213

In this assignment you will use principles of forecasting in conjunction with social media to help a company make strategic decisions. Consider this fictitious scenario then follow the instructions below.

The Dog House is a small business that specializes in dog boarding services. The company has been doing well over the last 4 or 5 years but company growth has begun to plateau. The owners are interested in ensuring financial growth and are eager to take steps necessary to make that happen. They realize that their two main options for growth are to diversify or to expand. However, if it is deemed wise, they will do neither and hold to their current practices. They feel that the ideal scenario would be to both diversify and expand.

However, they have only have the resources to be able to pursue one of these options right now. How could The Dog House use social media to do get their marketing research questions answered? Should they use social media for market research (especially forecasting) in this case? What would you recommend? Your marketing research company has been hired to provide clear market forecasting to help this company make a strategic decision. What should the company do? Consider more about each option: Diversification To other services beyond just boarding Dog baths and dog pedicure Training Food retail Expand to New Location New building New equipment Consideration of where based on market need Do nothing different Current business model has been successful but will it last without any change?

Create your market forecast and social media advice for The Dog House within the following parameters:

Base your forecast on real industry analysis data and justify your work by referring to and citing sources

Formulate advice for The Dog House about the use of social media for forecasting and justify your suggestions

Reference no: EM131147213

Questions Cloud

Effective organizations understand : Effective organizations understand that leadership succession planning is essential to promote continuity and long-term organizational health. Select a recent article from current events (past 90 days) related to succession planning.
Think toward independent living communities : The company is a non medical in home care company. What needs could your products (in home care) provide for businesses? Think toward independent living communities as well as assisted living communities.
Example of dysfunctional organizational politics : Although many people associate organizational politics in a negative light, it can be an effective strategy or one that causes dysfunction. Think of an organization you are familiar with (personally or through the media) and provide either an example..
While driving his sports car negligently : While driving his sports car negligently, Mark Mahoney crashes into a streetlight. The streetlight shoots out sparks that ignite barrels of gasoline sitting out in the open at a nearby construction site owned by Acme Construction. Does Acme Construct..
Create your market forecast and social media advice : The Dog House is a small business that specializes in dog boarding services. The company has been doing well over the last 4 or 5 years but company growth has begun to plateau. The owners are interested in ensuring financial growth and are eager to t..
What are some barriers to effective communication : What communication strategies are associated with effective leadership? Provide examples how they relate in today face paced business enviroment? What are some barriers to effective communication that a leader should overcome?
Models for formulating organizational strategies include : All of the following are challenges, described in the textbook, that today’s managers and organizations face EXCEPT. Models for formulating organizational strategies include: Which of the following is true concerning information in an organization? W..
Forecast the numbers available in each job category : The Doortodoor Sports Equipment Company sells sports clothing and equipment for amateur, light sport (running, tennis, walking, swimming, badminton, and golf) enthusiasts. Describe the internal labor market of the company in terms of job stability (s..
What consumer buying roles and buying behaviors : The company is Seniors First Choice which is a non medical in home company focused toward seniors who want to age in place/home. What consumer buying roles and buying behaviors are particularly relevant for your product?

Reviews

Write a Review

 

Operation Management Questions & Answers

  Explain how do change agents affect your organization

Explain how can an organization overcome employees' resistance to change. Explain how does your organization respond to planned also unplanned change. Explain how do change agents affect your organization.

  What was the timeframe involved in the project

What was the timeframe involved in the project and What were the financial resources allocated to the project

  Difference between manufacturing and service operations

Which is not a significant difference between manufacturing and service operations?

  Discuss how successful hotel lux will be in its action

Hotel Lux learns of Perlee's employment through a large advertisement in a New York City newspaper. It seeks to enjoin (prevent) Perlee from working in that restaurant as a chef for one year. Discuss how successful Hotel Lux will be in its action.

  Formal performance appraisal system

You are the newly appointed department manager. Your department has not been performing well, and you have been investigating why. You soon realize that the firm has had no formal performance appraisal system. Supervisors that need to do a better job..

  If duracell wants to move towards six-sigma capability by

duracell is examining its manufacturing process associated with its rb032 batteries that are commonly used in

  How will you design the evaluation study

What measures will you use, and how will you design the evaluation study?

  What are the elements of the risk-assessment paradigm

What are the elements of the risk-assessment paradigm. How can these elements be applied in a workplace setting in which an emergency responder is addressing a large spill of trichloroethylene. Describe how risk assessment can be used in industria..

  What is a hypothesis test

What is a hypothesis test. Why do we need to use them to make decisions about relating sample results to the population

  How many shirts will david have to press to break even

David Smith recently purchased a chain of dry cleaners in western Wisconsin. Although the business is making a modest profit now, David suspects that if he invests in a new press, How many shirts will David have to press to break even?

  What are some potential future trends in health care

What are some potential future trends and challenges in health care QI

  Compute a seasonalized or adjusted sales forecast

Season indices for the four quarters have been found to be 1.30, 0.90, 0.70, and 1.10 respectively. Compute a seasonalized or adjusted sales forecast.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd