The lcbo will have the opportunity to maintain its

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The LCBO will have the opportunity to maintain its long-term relationship with its creditors.
3. What Needs to Be Addressed
4. What Needs to Be Addressed
4. What Needs to Be Addressed Unidirectional Focus Towards Information Technology Development Implications if not Addressed Opportunities if Addressed customer-centric further. The LCBO will have a chance to upgrade and develop alternate store formats such as specialty boutiques for craft beers. Table 4.1 – Evaluation of Alternative Solutions & Recommendation WNTBA Statement #1 Insufficient Marketing Strategy to Maintain Customer loyalty and Brand Image
Alternative #1 Develop a detailed marketing plan Pros Detailed marketing plan recognizes the needs and requirements of the consumers. Determines the demand for a product. Recognizes competitors and reviews the organization's competitive advantage. Aids in the design of promotional activities that fulfills consumer needs. Cons If data isn't appropriately analyzed, it may lead to erroneous marketing decisions. Big data has great value, but accessing that data is expensive. Alternative #2 Review and revise pricing based on competitive pricing strategy Pros Increase in pricing leads to increase the profit margin Pricing can be adjusted to gain the market share by attracting more customers. Cons May get you distracted from other potential business tasks A discrepancy in either direction may provoke the customer to acquire the product from a different organization. Recommendation & Rationale A detailed marketing plan is recommended as it will help the organization to expand its reach to a broader range of customer base. Also, a comprehensive marketing plan helps an organization to realize the needs of the customer and offer promotional activities based on individual customers. A marketing plan helps an organization to understand the target market and market trends which is very crucial for any business. Last but not least, it helps in financial planning to make realistic financial and expansion goals.

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