Case Study Example | Topics and Well Written Essays - 2000 words - 2

Case Study Example Designing and monitoring are the essential factors that come under evaluation to make sure that they have come under performances in the most effective and productive manner in the strategic management process that leads to attainment of the organizational goals on whole (Stahl & Grigsby, 1992). In more detailed words, strategic management process involves designing and setting up overall objectives and guidelines of the organization in a broad-spectrum, create and constitute precise and explicit strategies, plan and carry out implementation of the designed strategies and make modifications if required based on the monitoring or supervision of the outcomes. However, the below diagram clearly defines the process of strategic management in a much more comprehensive way (Mockler, 2002). Amongst numerous organizations that exercise the processes of strategic management, Utica National is an organization that provides its customers with the insurance services and products and is one of the good models that practice the strategic management processes in an appropriate way. However, the course of actions that carries out the strategic management techniques would come under discussion in detail about how this organization employs such practices. Utica National is an insurance group that dates back to early twentieth century that comprises of several companies namely Utica Mutual Insurance Company and Graphic Arts Mutual Insurance Company came under establishment as its principal companies. Utica National (2011) has come under recognition for its devoted and committed services to the policyholders since time immemorial. In the recent times, the popularity of Utica National (2011) has grown so much that it comes in the top rankings in the insurance organizations of the country (A.M. Best Company, 2008). Moreover, they provide the customers with a wide range of insurance products that take account of commercial coverages, personal coverages,

Consumer Behaviour Essay Example | Topics and Well Written Essays - 500 words

Consumer Behaviour - Essay Example As per definition, WOM refers to the process of oral communication between two individuals where the individuals increasingly communicate important values or related information pertaining to a particular category or brand. The advantage of WOM over standards methods of advertising is that the WOM marketing happens mostly through the process of communication of two individuals at a significantly lower price as compared to that of advertising. The word of mouth marketing has significantly high level of benefits on the development of the brand value for the product as well as the company2. For globally renowned Fiskars, it can be said that the company can leverage a lot of advantage out of the word of mouth marketing technique by maintaining high end quality for its products as well as introducing innovativeness in the product design. A vital point is that though the company’s product mostly falls under the consumer durables category, it increasingly caters to three business areas like the home division, the garden division and the outdoor division. The products especially for the outdoor division are extremely critical in nature and needs supreme durability and consistency in quality. As a matter of fact, a highly reputed brand that provides consistent quality will automatically lead to higher sales especially for this division, if accompanied by the consumer driven word of mouth marketing tool3. There are significant steps that have to be followed by the company, in order prevent negative impact due to the word of mouth marketing for the company’s products. A very important factor is the fact that the company needs to secure its distribution network across the global markets in the wake of various fluctuating scenarios of macro economic conditions. The company also needs to secure the flow of various raw materials