Global society is increasingly aware of the high-end requirements for caring for and nurturing animals. This is what the Luxury Pet Hotel aims to do. It offers a unique way for dogs to enjoy pleasant, healthy and luxurious services. It focuses its efforts on the expanding sector of pet care. Its steady and robust growth suggests it could reach a significant growth rate of 15% to 45% by 2015. Many homes have pets, both in the UK and around the globe. Dogs make up 46% of pet owners in the United Kingdom (Roberts 2021). Pets have suffered from severe stress and hardship in their homes, especially in the light of the global health crisis, making it difficult for their owners to provide their own needs. This luxury pet hotel will use the Lean Startup approach to gain a competitive edge in this sector and provide excellent service.
As the CMO, this is how I will view this company. CMO, the chief marketing officer for the company, is responsible to design strategies that increase value proposition and awareness among consumers through promotions and advertisements. CMOs play a vital role in connecting the business to consumers and addressing their most pressing needs. This will allow me to support Luxury pet restaurants in meeting their significant market-enhancing goals. As per the Part A presentation, the following business model component will provide a report on company strategies as well as my duties and responsibilities in the role of chief marketing officer.
Corporate Goals
It is essential that an organization has clear corporate goals to foster a sense of purpose and commitment to the company’s path. These objectives can be derived from the short-term and long-term goals of the company (Ries 2011, 2011). The most crucial factor for maintaining effective communication among all stakeholder groups within an organization and contributing to its success is setting business goals. These goals include client retention, revenue and market share.
i. Market share is the percentage of products sold by a company in one industry. This measure measures the company’s success in its target market. The company has a goal of 12.5% market share in its first year. Because there are few businesses who deal with similar products or very close to them, this goal will be increased to approximately 25% and 30% respectively in the second year and third years.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
