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    Reflection Report 1 - PMK

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    Nhi Nguyen
    Strategic planning is the process of defining business goals and maintaining capabilities to achieve common goals. Darry Ring is an example, with goals of portraying eternal love through their 'forever engagement ring' campaign and unique ring designs. Their steps involve defining objectives, dominating the ring industry, and expanding product lines while keeping their message of being 'the one and only'.

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    Reflection Report 1 - PMK

    Uploaded by

    Nhi Nguyen
    31 views4 pages
    Strategic planning is the process of defining business goals and maintaining capabilities to achieve common goals. Darry Ring is an example, with goals of portraying eternal love through their 'forever engagement ring' campaign and unique ring designs. Their steps involve defining objectives, dominating the ring industry, and expanding product lines while keeping their message of being 'the one and only'.

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    Reflection report 1 -PMK

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    Strategic planning is the process of defining business goals and maintaining capabilities to achieve common goals. Darry Ring is an example, with goals of portraying eternal love through their 'forever engagement ring' campaign and unique ring designs. Their steps involve defining objectives, dominating the ring industry, and expanding product lines while keeping their message of being 'the one and only'.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    31 views4 pages

    Reflection Report 1 - PMK

    Uploaded by

    Nhi Nguyen
    Strategic planning is the process of defining business goals and maintaining capabilities to achieve common goals. Darry Ring is an example, with goals of portraying eternal love through their 'forever engagement ring' campaign and unique ring designs. Their steps involve defining objectives, dominating the ring industry, and expanding product lines while keeping their message of being 'the one and only'.

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    ASSIGNMENT COVER SHEET

    STUDENT DETAILS

    Student name: Nguyễn Thị Ngọc Nhi Student ID number: 23005667

    UNIT AND TUTORIAL DETAILS

    Unit name: Principle of Marketing Unit number: PMK-T12324PWB-4


    Tutorial/Lecture: Tutorial Class day and time: Sat 15h30-1845
    Lecturer or Tutor name: Prof. Ngô Viết Liêm/ Dr. Tăng Cường Phát

    ASSIGNMENT DETAILS

    Title: Reflection report 1


    Length: 4 pages Due date: Oct 6, 2023 Date submitted: Oct 6, 2023

    DECLARATION

    I hold a copy of this assignment if the original is lost or damaged.

    I hereby certify that no part of this assignment or product has been copied from any other student’s work
    or from any other source except where due acknowledgement is made in the assignment.
    I hereby certify that no part of this assignment or product has been submitted by me in another
    (previous or current) assessment, except where appropriately referenced, and with prior permission
    from the Lecturer / Tutor / Unit Coordinator for this unit.
    No part of the assignment/product has been written/ produced for me by any other person except
    where collaboration has been authorised by the Lecturer / Tutor /Unit Coordinator concerned.
    I am aware that this work may be reproduced and submitted to plagiarism detection software programs
    for the purpose of detecting possible plagiarism (which may retain a copy on its database for future
    plagiarism checking).

    Student’s signature:

    Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has
    not been signed.
    REFLECTION REPORT 1
    Define strategic planning. Give an example at a corporate level and
    discuss the steps involved.

    Principle of Marketing – [PMK-T12324PWB-4]


    Define strategic planning. Give an example at a corporate level and discuss the steps
    involved.

    According to my knowledge, strategy planning is a process of business goals, and their capabilities,
    such as human resources, skills, and opportunities, are maintained and enhanced to work on common
    goals. (Philip Kotler and Gary Amstrong, 2018)

    Darry Ring is a brand that I prefer to introduce as a corporate-level example. Firstly, Darry Ring was
    a Chinese jewelry brand being famous for its “forever engagement ring” marketing campaign. D.R.
    positioned itself to target customers who emphasize the pursuit of eternal love, with the motto: “The
    one and The only” (Darry Ring, n.d). That is why they have their statement: “Darry Ring's mission is
    to become supporters and champions of true love, who help to create a world full of love, trust, and
    commitment. We are devoted to creating jewelry and exclusive rings that make you feel the ultimate
    beauty of love (Darry Ring, n.d).” Secondly, D.R. defined its objectives and goals to leave couples
    with an unforgettable proposal and love tale of a lifetime. Besides their unique and sophisticated ring
    designs, they provide a one-time policy, “True Love Agreement”, which requires a couple to declare
    their promise only once and then honor it for the rest of their lives together (Alexandra Jacobs,
    2023). The Darry Ring became a symbol of passion, sincerity, and true love, and they also dominate
    the engagement and wedding ring retail industry worldwide. In the final steps, D.R. has to plan their
    business portfolio. At present, Darry Ring has a mass of engagement and wedding ring collections
    with strong messages attached to eternal love, such as “Princess”, “True Love” or “Love Line”.
    Additionally, D.R. brings different high-end product lines but maintains its promise: “The one and
    only” to unlimit its potential revenues.
    References
    DR story. (n.d.). Darry Ring. Retrieved from https://us.darryring.com/our-story
    Engagement Ring. (n.d.). Darry Ring. Retrieved from https://us.darryring.com/engagement-
    rings/shop
    JACOBS, A. ( 2023, January 2). DR Ring Review—Should You Buy a DR Diamond Ring? Broke &
    Chic.
    Philip Kotler and Gary Amstrong. (2018). Principle of Marketing.
    Ring, D. (n.d.). Our Story. Darry Ring. Retrieved from https://us.darryring.com/our-story
    Sang, T. (2022, November 4). Nhẫn cưới trọn đời. Cafebiz. Retrieved from https://cafebiz.vn/nhan-
    cuoi-tron-doi-mo-hinh-kinh-doanh-thien-tai-hay-chieu-tro-marketing-sen-sam-cua-thuong-
    hieu-trang-suc-dr-176221102165137058.chn
    Wedding Ring. (n.d.). Darry Ring. Retrieved from https://us.darryring.com/wedding-rings/shop

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