Integrated Marketing Communications - Assignment Example

First Number 14 September Marketing Plan EXECUTIVE SUMMARY Baglow is a new organization with new business idea of bag cleaning service in the market of Qatar. In this regard, it is observed that the market of Qatar has high potential for Baglow to grow. The organization has planned to conduct operations with the assistance of certain strengths that include advanced technology and high skilled professionals. These are also the point of difference of the organization in comparison to competitors. Moreover, in order to serve the customers effectively, the organization is required to segment the market effectively, so that business operations are conducted with better sustainability as well as growth prospect. Further, it is essential for the organization to consider all the 7Ps of Service Mix and hence, contribute in all these areas to gain sustainable development. Besides, the sustainability in the business process would be gained through appropriate financial control and control measurement. These would lead the organization to accomplish its vision of performing with enhanced market share and profitability. 2. SERVICE BRIEF Baglow is an organization that has certain unique business idea. This is with regard to the introduction of a business plan of bag cleaning service. The market that Baglow is targeting is Qatar. For delivering an effective service to the customers, the organization has planned to undertake the strategy of introducing advanced technology. Moreover, the organization has recruited some of the highly skilled cleaning professionals. These make the service of the organization highly effective and hence, it is able to meet the satisfaction level of the customers significantly. The service of the organization is categorized into different segments of target customers. These include the cleaning of the travel bags, school bags, gents bags, ladies bags, and miscellaneous other bags. The service of the organization is further segregated into leather, cloth and others. This segmentation is done, as the materials and the method used for the cleaning purpose are different for leather, cloth and others. Moreover, in order to make the service of the organization highly convenient to the customers, the organization has adapted the strategy of serving at the door of the customers. In this regard, the organization takes the bags from the home of the customers. The organization further cleans the bags at the working zone of the organization. After cleaning and pressing the bags, the organization delivers the bag at the convenient locations of the customers. In the cleaning process, it is important for the organization that the bags do not fades away through washing. It is also important from the perspective of the organization that the customers perceive the bags as a new product after every service process. 3. STUATION ANALYSIS 3.1 Market Overview. Market Size Qatar is one of the prosperous nations in the Middle East. The country has a population of around 1.8 million. This suggests of a significant market size from the perspective of an entrepreneur. Moreover, it is important to note that the nation has a significant tourist market. The tourist market in the nation also suggests the growth and development of the bag market in the nation. Subsequently, it provides abundant opportunity for organizations that provides bags cleaning service. Thus, it denotes of a significant market size for bags in Qatar. The prime reason for hot tourist market in Qatar is due to the presence of some of the incredible tourist attractions in the nation that include The Museum of Islamic Art, Doha; The Corniche, Doha; Al- Zubarah, Northwest of Qatar and many more. Overall, the market size of the country has been developing due to different factor that include financial and market freedom among others (Gronroos and Ravald 5-22; Ramady 70-105). Growth Rate Qatar is one of such nation in the world that have high market growth rate. The tourist industry in the nation is also growing at a good rate from the past few decades. This is because of the presence of some of the incredible tourist attractions in the nation. In addition, the Qatar market is identified to be growing for the development of different sector that include IT and furniture among others. The development of different sectors significantly supplements the possibility of higher growth rate for bag cleaning industry. Moreover, the nation has a high purchasing power, which signifies that the customers make their purchase on the basis of quality and preferences. The citizens also have a good income growth over the past few decades. This creates opportunity of higher rate for the growth of bag cleaning organization such as Baglow (Gronroos and Ravald 5-22; Ramady 70-105). Potential The economic scenario of Qatar is highly potential for businesses to perform their operations effectively. Qatar is identified as a free economy. Thus, from the perspective of an investor who has the objective of investing in the nation with regard to bag cleaning services has high potential for growth. The potentiality of the market also increases for increase in the high Gross Domestic Product (GDP) per capita and high purchasing power of the people. Moreover, the potentiality of the market with regard to bag cleaning service increases through the growth in the tourist market (Gronroos and Ravald 5-22; Ramady 70-105). Trends The Qatar economy has been developing with GDP per capita and high purchasing power and in this regard, it is observed that most of the citizens prefer to execute their task through others. This concept is also equally applicable in the bag cleaning service of Qatar. It is estimated that majority of the people of the nation would prefer to use the service of bag cleaning organizations for all their bags (Gronroos and Ravald 5-22; Ramady 70-105). Competition The bag cleaning service market is still very new in the world. Although, there are some of the local organizations that provide bag cleaning service to its local customers, but the organizations do not a have significant market share. Thus, it is a good opportunity for Baglow to enter into the market of Qatar and undertake the advantage of lack of large number of competitors. However, it is important to note that the organization may face competition in the future for the high growth opportunity in this market. In this regard, it is important to mention that the organization must undertake ascertain appropriate strategies to possess competitive advantages over other competitors in the market (Gronroos and Ravald 5-22; Ramady 70-105). 3.2 SWOT Analysis. SWOT analysis is an extreme important method for internal and external analysis and evaluation of a business. In this regard, the internal analysis aids in determining the strength and weakness of an organization. On the other hand, external analysis provides information relating to opportunities and threats that an organization would encounter from the business process (Bohm 24-42). Contextually, the SWOT analysis of Baglow with regard to its business process on bag cleaning service is provides in Appendices 8.1. In addition, an analysis of the same has been discussed hereunder. Strengths Baglow have certain strength based on which the organization has been facilitated with the opportunity of conducting operations with better effectiveness and sustainability in spa bag market in Qatar. The major strengths of the organization include the use of advanced technology for the purpose of providing superior cleaning service. Moreover, the organization possesses skilled professional cleaners. These two major strengths of the organization based on which it has been able to offer superior quality of service to the customers. These strengths are also the Point of Difference (POD) of the organization for other local organizations. It subsequently derives competitive advantages of the organization (Bohm 24-42; Gronroos 240-247). Weaknesses Although Baglow has some of the significant strengths that encourages the organization in its business process, but there are some of the weakness that cannot be avoided. One of the major weaknesses of the organization is with regard to lack of knowledge in the sector of bag cleaning service. Moreover, it is worth mentioning that the organization has lack of brand recognition in the market of Qatar. These two are the major weakness of the organization. Thus, it is important from the perspective of the organization to reduce and eliminate the weakness by adopting effective strategies. This would facilitate the organization to achieve its goal and objectives effectively (Bohm 24-42; Gronroos 240-247). Opportunities Baglow has a significant opportunity in its business process with regard to bag cleaning in Qatar. This is because of some of the significant aspects that derive higher opportunity for organizational growth in the nation. This includes the increasing tourist market in the nation. The prime reason for the increasing tourist market is the presence of attractive tourist destinations in the nation. Moreover, the opportunity for growth of Baglow increases for the high economic growth of the nation along with high GDP per capita and high purchasing power of the citizens. It is worth mentioning that the increasing trend of executing work from other also provide a significant opportunity to the organization in building its business process (Bohm 24-42; Gronroos 240-247). Threats Even though there have been some of the significant opportunities for Baglow for executing its business operations in Qatar, still there are some of the threats that cannot be ignored. These threats include the threat of uncertainty in the business process. The prime reason for the uncertainty is the new sector of business and most of the people are unaware of the service. Moreover, there is even possibility of new entrants in the market. This is also a significant threat to the organization. In this regard, the organization must also implement strategies to eliminate and reduce the aforementioned threats. This would assist the organization to achieve its goal and objectives effectively (Bohm 24-42; Gronroos 240-247). 4. MARKETING STRATEGY 4.1 Vision and Mission. Vision Baglow has a defined vision to be the market leader in Qatar and provide superior quality of service to its customers. More specifically, the organization has a vision of providing superior service to over 1 million customers in the nation (DuBrin 15-21). Mission Baglow has certain mission in its business process, so that the organization attains its aforementioned vision. The mission of the organization is high customer satisfaction. In this regard, for attaining the mission of the organization, it should also segment its customers effectively. The organization should also position its products and/or services effectively. Besides these, the mission of the organization also comprises appropriate pricing and effective communication to the customers. Based on the aforementioned missions the organization aims at higher customer satisfaction, which is the prime mission of the organization (DuBrin 15 21). 4.2 Annual Marketing Objectives. Baglow has certain annual marketing objectives with regard to its mission and vision. In this regard, it should have the objective of possessing at least 25,000 customers in the first years and thereby target for at least 40% growth in the successive years. This would lead to the attainment of its vision of serving 1 million customers within 8 to 10 years. In addition, for the first year, it is important that the organization must undergo extensive promotion for the purpose of increasing brand recognition. Moreover, it is important that the organization must perform adequate segmentation of the market. In this respect, it is important that the organization must undertake appropriate pricing decision and improve service quality. These would lead the organization to gain its annual marketing objectives (Cravens and Piercy 55-65; Huotari and Hamari 17-22). 4.3 Segmentation. In order to serve the maximum possible customers in the market of Qatar, Baglow has undertaken certain market and product segmentation strategy. The table depicting the market and product segmentations of Baglow is provided in Appendices 8.2. From the table, it is identified that the organization has segmented the market and product on the basis of types of spa bags used by different segment of customers. This comprises travelling bags, school and college bags, ladies bags and gents bags among others. Furthermore, these bags are segmented into leather, cloth, and on the basis of other materials. The reason for further segmentation is the material used for cleaning leather bags is highly different from cloth bags and vice-versa (Huotari and Hamari 17-22; McDonald 55-107). 4.4 Targeting. Identification of Target Market From the above segmentations of market, it is asserted that Baglow has the goal and objective of targeting all the possible segments in Qatar. The organization has segmented the market as mentioned above and thereby targeted every segment with different strategies. These targeted markets include the consumers of travel bags, school and college bags, gents bags, ladies bags and other bags. The market is also targeted on the basis of leather, cloth or other materials used in the bags (Kotler 183-191). Targeting Strategy In order to target every segment or target customers of the Qatar market effectively, Baglow should implement different strategies to all the different targets. This mode of targeting the customers is known as Multi-Segment Targeting. Multi-Segment Targeting is highly effective and of high benefit to an organization. However, this form of targeting customers is also expensive. The reason behind high cost in this form of targeting strategy is greater input from the management. Moreover, this involves high market research and promotional expenses (Kotler 183-191). 4.5 Positioning. Point of Differences (POD) Although the bag cleaning industry is very new to the world including Qatar, still Baglow has certain local competitors in the nation. It is important that the organization must undertake a defined position in the market with respect to the competitors. With regard to positioning, it is also decisive to identify the POD of the organization in accordance with the competitors. There are two major POD of the organization that include advanced technology that the organization uses for the purpose of cleaning bags and the presence of high skilled cleaning professionals. These two PODs are the major criteria for gaining competitive advantages (Kunza and Hogreve 231-237; McGhie 12-25). Point of Parity (POP) Baglow despite having two of the major PODs that significantly differentiates the organization with other competitors, some of the evidences of parity cannot be denied. One of such is the market, where all the organizations are identified to be conducting operations with profit motive and growth prospects. Moreover, another POP is the objective of all the organizations. This is of becoming the market leader in Qatar. Further, another POP noted is the lack of knowledge regarding the market. It also involves the uncertainty in the new business process. Furthermore, all the organizations have similar threat from new entrants. Additionally, it is worth mentioning that Baglow has the POPs of similar growth opportunity in the market of Qatar (Kunza and Hogreve 231-237; McGhie 12-25). Differentiation Base Baglow in order to gain competitive advantages and sustainable development must possess certain differentiation in its product and marketing strategies. One of the differentiation bases involves use of advanced technology for cleaning of bags. It also involves the use of highly skilled professionals for cleaning. Besides these, another differentiation base involves the effective promotion of the products of the organization to the customers. The organization has significant financial strength that has been also recognized as a differentiating factor for other organizations. Moreover, the differentiation base involves the effective segmentations of the market for attracting the targeted customers through appropriate strategies (Kunza and Hogreve 231-237; McGhie 12-25). Positioning Statement On the basis of POD, POP and differentiation base of Baglow in Qatar, it is important to determine the position of the organization in the market. In this regard, it is advisable that the organization must position its product as a superior quality with affordable price. Moreover, it is important to note that the nation has high GDP per capita and high purchasing power of its citizens. Thus, the people of the nation do not have a major concern in the price of the products. The people of Qatar are mainly focused on the superior quality of service. Thus, it is advisable that the organization must not reduce the price of the products significantly. It is desirable to be at an affordable range for the customers. In addition, the organization must majorly be concerned in establishing superior quality of product and should focus in establishing its brand recognition through appropriate promotion (Kunza and Hogreve 231-237; McGhie 12-25). 5. SERVICE MIX 5.1 Service and Branding. Service Define The service of Baglow involves cleaning of bags of the customers in Qatar. The organization prefers to clean bags of all types including travelling bags, school bags and others. For the purpose of effective cleaning, the organization uses effective utensils of modern day technology. It is also observed that the organization have some of the highly reliable and skilled cleaning professionals. The organization is also concerned about the service quality, so that in the cleaning process, the bags do not get faded. Thus, every service is performed with care. Furthermore, it is identified that the service of the organization involves pressing of the bags with iron, so that every bags are perceived to be a new product by the customers. In this context, the organization with the provision of quality as well as unique services will be able to meet the satisfaction level of the customers (Lovelock 51-63). Service Mix Strategies Service mix strategy of an organization involves the 7Ps through which strategic decisions are made by an organization. The 7Ps include Product, Price, Place, Promotion, People, Process, and Physical Evidences. These elements are also equally important for the service organization i.e. Baglow. These are the aspects based on which the organization can improve its product, so that it gains sustainability and competitive advantages. The strategy involves the improvement in the product as per the desire of the customers. The strategy also involves selecting of affordable price for the customers. With regard to place, the organization must apply the strategy of penetrating maximum area of the nation. Promotion is also important for the organization to gain brand recognition. Furthermore, the organization should consider the presence of efficient professional cleaners to provide superior quality of products and/or services. Baglow is required to implement the strategy of providing effective service process, so that the organization delivers the service in minimum possible time. Besides these, the organization must implement the strategy of improving the authority of the service. In this regard, the physical evidences of the effective service delivery are necessary to be implemented (Lovelock 51-63). Brand Building Equity In the modern era of competitive business environment, it is essential from the perspective of an organization to establish a brand image. This is also important considering the establishment of brand recognition. This concept is equally applicable to Baglow, as the organization is new in the market and do not have enough brand recognition. In this regard, it is essential that the organization must establish strategies to improve its brand value. The brand value of the organization can be improved through the delivery of superior quality of service to the customers. It is also important that the organization must promote its products effectively, so that the customers have a better understanding about information relating to products in terms of features, innovativeness and quality standards among others. This perception of superior quality by the customers results in to the improvement of brand value in the perception of the customers (Lovelock 51-63). Packaging Adequate and appropriate packaging of the products of Baglow is extremely important from the perspective of the organization. This highly satisfies the customers of the organization. Packaging is highly essential, so that the products are not tampered by the environmental and other factors. Moreover, packaging of the product is important, so that it creates a good impression to the customers. Thus, packaging is highly essential for the purpose of satisfying the customers and hence, derives competitive advantages over other organizations in the market (Lovelock 51-63). 5.2 Pricing. Pricing Objective The prime objective of the organization is to maximize profit for better sustainable and competitive performance. Additionally, it is important that the organization must maximize its market share, so that the total profit of the organization increases. The pricing objective of the organization also must include increase of profit margin. Thus, in this regard, it is essential that the organization implement a pricing strategy that would lead to the attainment of the organizational goals and objectives (Rao 26-87). Cost Estimate Baglow in its objective of business process with regard to cleaning of bags in Qatar has certain costs associated. These costs or expenses of the organization are depicted in tabular format in Appendices 8.3. It is estimated that the cost of the organization in the first year i.e. 2015 is 6,370,000 in Qatari Riyal. In the second year, the cost would reduce to 6,040,000, which is followed by 6,275,000 in the third year. The reduction in the cost is primarily because of the reduction in the capital expenses. In the first year, the organization had significant expenses in relation to capital expenditure. This is because of the purchase of the cleaning equipment. It is also estimated that the organization would spend a major amount in bank loan payment. Moreover, it is projected that the organization is required to spend a significant amount in promotional expenses. The promotional expenses for the first year are high. Besides this, it is estimate that all other cost of the organization gradually increases over the years (Rao 26-87). Markup Price For any organization in the modern day, it is important that an organization must implement certain markup price. This is equally important for Baglow. In this regard, it is observed that the cost of the organization in the first few years is extensive. This is because of the high bank loan payment. The markup price of the products is advisable to be around 60% more than the cost per unit. 60% markup would provide a reasonable profit margin to the organization (Rao 26-87). Break Even Analysis As per the calculation with regard to expenses and income of Baglow, it is estimated that the breakeven point of the organization would arrive within the second quarter of 2016. In other words, the breakeven would arrive after 17 to 18 months of commencement of business operations. The prime reason for early breakeven arrival is the high growth of the organization. It is also expected that the organization would grow at around 40% annually (Rao 26-87). The table depicting the determination of breakeven of the organization is in Appendices 8.4. Pricing Strategy Baglow in order to derive competitive advantages and most importantly to maximize its profit, it is important that the organization must implement appropriate pricing strategy. In this regard, it is essential that the organization is required to adopt an appropriate pricing strategy based on which it would be able to maximize profit and improve to sustainability. Moreover, it is advisable that the organization must not lower the price, as it would reduce the profit margin of the organization. This is because the people of Qatar have high purchasing power and high per capita income. The people of Qatar mostly prefer to have a superior products and compromises on the price of the same. Thus, it is advisable that the price of the products should be marked comparatively higher to the competitors, but it should also be reasonable. The high pricing of the products of the organization is also justified by the superior quality of the same. In this regard, the company should implement penetrating pricing policy based on which initially the price of the products and/or services will be lower and with the increase in market share as well as demand would increase price accordingly. Subsequently, the organization with the implementation of the pricing strategy will be able to ensure that business operations are conducted with better profit margin along with sustainability (Rao 26-87). 5.3 Marketing Channels. Distribution Objective Baglow has certain distribution objective with regard to introduction of the bag cleaning service in Qatar. This is maximum penetration of the market. In this regard, the organization also has the vision of servicing more than 1 million customers. Thus, it is high essential that the organization must distribute its products effectively in all parts of the nation (Keillor 55-91). Distribution Strategy For the purpose of distributing the service of Baglow in every corner of the nation, it is important that the organization must implement certain effective distributive strategies. In this regard, it is advisable that the organization implements strategy of distributing the service at home of the customers. It is advisable that the organization should establish at least one working area in each of the towns and cities of Qatar. In this context, it is advisable to take online order or order from phone call or any other sources and hence, collect the bags from the locations of the customers. Further, the cleaning process would be in progress in the working area of the organization. Moreover, it is advisable that the organization must deliver the bags in convenient locations of the customers. This aspect of providing service at the door of the customers is highly effective in penetrating the market, which is the objective of the organization (Keillor 55-91). 5.4 IMC. IMC Objective In the modern day business scenario, it is essential that Baglow should communicate to the customers effectively. In this regard, it is essential that the organization must communicate with regard to effectiveness of the products to the customers. Since, the product is highly new in the market, it is essential that the organization must communicate to the customers. It is important that the customers should educate and provide knowledge regarding the new product and/or service, which is of high benefit to them (Ang 37-123). IMC Campaign In order to attain the objective of Baglow with regard to the attainment of the IMC objective, it is important that the organization must implement an IMC campaign effectively. The prime message of the organization towards the customers through IMC is the effectiveness of the organization and the need for cleaning of bags. It should also communicate with regard to advanced technologies that the organization uses in its cleaning process and the presence of professional cleaners. The organization should use several IMC tools for the purpose of effective communication. These tools include the use of social media, which is highly effective in the modern day. Most of the people of Qatar similar to other developed and developing nations are mostly available in the virtual world of social media platform. Thus, promotion through social media technology is highly effective. Besides this, other IMC tools highly effective to the organization. These include promotion through television, radio and other electronic media sources. It also includes the use of printed media such as hoardings, banners, newspapers, magazines and others. Further, it is important to note that promotion through television is highly expensive. However, the promotion through the use of social media platform is comparatively less expensive than television. The other tools of IMC are also expensive in Qatar (Ang 37-123). The organization has spent a significant sum of money in promotional expenses. This is depicted in tabular format in Appendices 8.3 and 8.5. 5.5 Service Process. The service process of Baglow is majorly of possession. In this regard, it is observed that the organization primarily needs possession of the bags of the customers to provide service. In the absence of the presence of the bags, the organization is unable to provide services to the customers. Thus, it is a possession service process (Ang 37-123). 5.6 People. There are several people involved in the business process of Baglow. The most important individual involved in the business process is a customer. Moreover, the organization involves people like entrepreneurs for the development of the business in the market segment of Qatar. The organization also has people involved are the highly skilled cleaning professionals. It also has sales professionals, whose prime objective is to gather maximum customers for the organization. They are also responsible for the delivery of the products and/or services at the convenient locations of the customers. Besides these, the organization also has management team, whose role is to control and direct the organization towards its goal (Keillor 55-91). 5.7 Physical Entities. In the business process of Baglow, there is a requirement of physical entity. This is primarily to increase the authority of service of the organization. In this regard, it is important to note that there is a possibility of errors by the employees in the service process. Moreover, there is a possibility of customers claiming of bags from the organization that they have not provided. These greatly disrupt the business process of an organization like Baglow. The organization with the development of corporate identity will be able to mark its presence aim customers to a large extent. Thus, it is highly advisable to the organization to implement the strategy of introducing physical entities or evidences in the business process (Keillor 55-91). 6. FINANCIAL AND CONTROL 6.1 Grand Financial Objectives. Baglow has certain financial objectives that would lead the organization towards its vision of becoming the leading bag cleaning service provider in Qatar and most importantly, possessing a customer base of around 1 million. In this regard, the financial objectives of the organization play a crucial role. One of the financial objectives of the organization includes the attainment of around 40% growth in the revenue of the organization. This would lead the organization to attain revenue of nearly 25,000,000 in Qatari Riyal in the fifth year of its business process. It is also expected that the organization will be able to attain a profit of more than 15,000,000 Qatari Riyal in the fifth year of its business process. Thus, the organization has expectations of significant financial growth within five years of timetable (Hultman and Ek 166-180; Ward 17-19). 6.2 Sales Forecasting. It is expected that the sales of Baglow will gradually increase over the years. In this regard, it is projected that the sales of the organization would increase by 40% on yearly basis. Moreover, it is estimated that the sales of the products and/or service would increase from September to March, which is the peak season for the tourist in Qatar. In this period, majority of the tourists come in the nation. In Qatar, most of the students are recognized to purchase new bags in the beginning of a season. In this context, cleaning of school and college bags majorly occurs in seasonal end from September. Nevertheless, it is a good opportunity for the organization to commence business from January 2015, which is also part of the expected peak season (Hultman and Ek 166-180; Ward 17-19). 6.3 Control Measurement. From the perspective of Baglow in its business process in Qatar, it is very important to have adequate control measurement. This is an important considering relating to the sustainable development of the organization. Control measurement of the financial aspects of the organization is highly important considering the major bank loan of the organization. In this regard, control financial measurement of the organization includes adequate and appropriate market as well as marketing research with regard to the business process of bag cleaning. Moreover, another financial measurement steps include the introduction of effective control management system. Besides these, it is also important for the organization to implement strategies by the management team to reduce the cost of the organization. This would lead to sustainable development of the organization (Hultman and Ek 166-180; Ward 17-19). Works Cited Ang, Lawrence. Integrated Marketing Communications: A focus on new technologies and advanced theories. New York: Cambridge University Press, 2014. Print. Bohm, Anja. The SWOT Analysis. United States of America: GRIN Verlag, 2009. Print. Cravens, David W. and Nigel F. Piercy. Strategic Marketing 8E. New York: Tata McGraw-Hill Education, 2003. Print. DuBrin, Andrew. Essentials of Management. United States of America: Cengage Learning, 2011. Print. Gronroos, Christian, and Annika Ravald. “Service as business logic: implications for value creation and marketing.” Emerald Group Publishing Limited 22.1 (2011): 5-22. Print. Gronroos, Christian. “A service perspective on business relationships: The value creation, interaction and marketing interface.” Industrial Marketing Management 40.2 (2011): 240-247. Print. Hultman, Johan and Richard Ek. “Can there only be one? Towards a post‐paradigmatic service marketing approach.” Emerald Group Publishing Limited 3.2 (2009): 166-180. Print. Huotari, Kai, and Juho Hamari. “Defining gamification: a service marketing perspective.” ACM Digital Library (2012): 17-22. Print. Keillor, Bruce David. Marketing in the 21st Century: Interactive and multi-channel marketing, Volume 2. United States of America: Greenwood Publishing Group, 2007. Print. Kotler, Philip. Principles of Marketing. New Delhi: Pearson Education India, 2011. Print. Kunza, Werner H., and Jens Hogreve. “Toward a deeper understanding of service marketing: The past, the present, and the future.” International Journal of Research in Marketing 28.3 (2011): 231-237. Print. Lovelock, Christopher. Services Marketing People, Technology, Strategy, 5/e. New Delhi: Pearson Education India, 2008. Print. McDonald, Malcolm. Market Segmentation: How to Do It and How to Profit from It. New York: John Wiley & Sons, 2012. Print. McGhie, Austin. Brand is a Four Letter Word: Positioning and the Real Art of Marketing. South California: Advantage Media Group, 2012. Print. Ramady, Mohamed A. Political, Economic and Financial Country Risk: Analysis of the Gulf Cooperation Council. Saudi Arabia: Springer Science & Business Media, 2013. Print. Rao, Vithala R. Handbook of Pricing Research in Marketing. United Kingdom: Edward Elgar Publishing, 2009. Print. Ward, Keith. Financial Aspects of Marketing. United Kingdom: Routledge, 2013. Print. 8. APPENDICES 8.1 SWOT Analysis. 8.2 Market and Product Segmentation. 8.3 Expense or Cost Statement. 8.4 Determination of Break Even. 8.5 Income Expense Statement. Read More