Environmental Trends in the Business Organisation - Case Study Example

A MARKETING PLAN Name Paper Date A marketing plan Marketing objectives A marketing plan in an organisation runs a vital part towards realising success. The main objectives of marketing plan include increasing sales, improving product awareness, establishing oneself of an industry and brand management (Podnar, 2012, p.151). Marketing objectives in increase in sales is one of the main goals for profit entities for good return on investment. Improving product awareness comes in all forms of promotional media as a concept of marketing. Product awareness tends to boost the product by providing relevant information to various customers and convincing them thus having a large customer base. Brand management also gives unique looks of products that catch the eye of clients and convincing them. On the other hand marketing entails the promotional media that creates an organisational profile that will be liked by many clients thus growth and development of an organisation (Podnar, 2012, p.151). Environmental Trends Environmental trends in the business organisation tend to reveal the growth and development levels in the long run period. Many challenges will be faced upon in business including unavailable publicly data for example localized water scarcity data and organisational scientific risks, limited contextual analysis and highly unpredictable environmental risks in the business concerns (Galuszka, 2010, p.12). As a marketing strategy business organisations should improve the level of risks that are likely to affect the business. Availability of data resources should be adequate to minimise the level of scarcity that includes the scarcity in localized water data. Minimization of environmental risks should be done in advance to avoid misconceptions of information that will lead to failure of marketing strategy. Marketing plan should check the environmental trends where the business activities intend to take place (Galuszka, 2010, p.12). Industry conditions Understanding industry conditions entails all the forces that are crucial in the organisation as part of business planning. Increased completion is one of a market force that strengthens business activities (Frank, 2010, p.16). Good competition and other marketing strategies prosper in business activities. Regulation procedure such as having a permit to run a business, adaptation to the changes in the industry, product and pricing trends in the market and major transformation in the industry including technological advancement are other industry conditions. Steady flow of these industry conditions makes a business activity to prosper in the long run (Frank, 2010, p.16). This will be part of the marketing strategy that a business organisation will engage on to achieve its organisational objectives. Target customer As a target strategy, business seeks to have a large customer base for their products and services in the world. In determining the target customer, one needs to consult the business plan to look upon the goals and analyse the product or the service offered by the organization (O'neil, 2009). The next step is to begin researching on the available clients that can consume the products. Then you develop a customer profile that will help to establish the relationship between the organization and the customers. This will provide a marketing mix that will help to achieve satisfaction level of the customers from the supply of products and services. The target customer in the business activities are obtained through an in-debt research carried out by the marketing department in the organisation (O'neil, 2009). Product/service to be offered to the customer The product and services that will be available for distribution to the final stage should pose better market qualities. These products and services should have a unique feature that will lead to customers to sit up and notice it. Also products should have a mass appeal, multifunctional qualities, ability to posses’ demos or magical transformation, supportive cost with powerful offer, ability to provide a solution, explaining ability on how it functions, credibility and it has a proven results (Frank, 2010, p.16). An organisation that offers a product and services with the above mentioned attributes it will prosper in the long run of business activities. Considerations of these attributes should be in mind for businesses to achieve their goals in provision of better products and services. Price strategies Pricing strategies are also vital in marketing as part of the marketing mix which generates turnover in the organisation. For pricing to take place effectively it should take account of competitive factors, variable and fixed costs, company objectives, proposed positioning strategies, target group and willingness to pay (Galuszka, 2010, p.12). Some of the pricing strategies are completion pricing that entails setting prices in comparison to others, premium pricing ensures the price set is high in order to reflect the exclusiveness of the services and product, penetration pricing involves setting low prices to increase sales and market share and product line pricing it engages pricing different products within the same product range at different price points (Baker, 2012). Therefore the use of these price strategies enables an organization to be competitive in the market while offering its product and services to the clients or customers. Promotional strategies Product promotion is one of the important necessities in attracting new customers and obtaining a brand name in a business concept. Contests have been largely used as promotional strategy since many contests do not even require a purchase (Baker, 2012). Other promotional strategies that organisation can opt to use to market their products and services include the use of product giveaways, social media, mail order marketing, charity and causes, branded promotional gifts and customer referral incentives programs. Product giveaways intend to promote the product through attaching them in other products at a low price or free at other times (Baker, 2012). These are the promotional objectives that help an organization to achieve its product and service marketing plan. Distribution strategies Distribution strategy refers to the organisational plan that specifies how a firm intends to move its product and services to other groups of business including retailers, intermediaries and customers (Galuszka, 2010, p.12). The distribution strategies that business organisation uses to support marketing plan include intensive distribution where business products are sold in as many outlets possible in the world; mostly used for goods with high appeal a wide range of customers, selective distribution is a method of distribution that relies on fewer supplier and intermediaries; emphasized on specialized goods and the exclusive distribution is practised in limited and few suppliers and intermediaries; best in high end and luxury goods. Organization should therefore follow the distribution strategies for their marketing plan to be effective in their organisations (Galuszka, 2010, p.12). Competitor analysis Competitor analysis in a business organization entails a goal in understanding the competitors to compete with, planned actions and competitive strategies and how competitors might react to organizations (O'neil, 2009). Competitor analysis helps in assessment of strengths and weaknesses of business competitors in an organization. The in-debt analysis of the organizational business activities intends to indentify the opportunities for growth and development of the business. Its main areas of comparability follow in financial resources, staff products, service and market share, pricing customers, financial data, brand recognition, location, marketing tactics and logistics (O'neil, 2009). Observance of competitor analysis and completion of the process it will helps in determining the marketing plan and achieving most of the opportunities in the organization through providing services and products to customers. Marketing controls Marketing controls are set of procedures and practices used by business organizations to regulate and monitor marketing activities to achieve their marketing plans. In an organization, in order to plan their must be controls be involved in (Baker, 2012). The marketing controls involve the use of monitoring measurement and evaluation. Marketing planning will support and rectify the costly and scarcity of resources. All what entails control is the setting of standard. Comparability between the actual processes against the standards is one way of marketing control. The marketing control process begins from determining marketing objectives, performing standards, comparing results against standards to alterations and corrections (Baker, 2012). The main approaches towards marketing controls are market share analysis, quality controls, sales and ratio analysis, budgets and marketing research. References Baker, M. J., (2012). The marketing mix. London, Henry Stewart Talks. Frank, H. K., and George, D. R., (2010). Guide to doing business in Virginia, Virginia Business journal, vol. 25no.3, pp. 15-23. Galuszka, P.L., (2010). Goodwill hunting: Philip Morris' charitable giving and health-conscious marketing were all part of secret plan: to lock in market share and woo the FDA. Style Weekly journal, vol.2, no.8, pp.11-22. O'neil, B., (2009). Acting as a business: strategies for success. New York, Vintage Books. Podnar, K., & Javernik, P., (2012). The effect of word of mouth on consumers attitudes toward products and their purchase probability. Journal of Promotion Management, vol.1, no.8, pp.145-168. Read More