Marketing for Bahrain Bourse - Business Plan Example

Marketing plan for Bahrain Bourse Contents Contents 2 Introduction 3 Marketing Model 3 Marketing Strategy 4 SWOT analysis 5 STP analysis (Segmentation, targeting and Positioning) 7 Segmentation 7 Targeting 7 Positioning 8 Promotion 8 Campaigns 8 Social media and Websites 9 Magazines 9 Books and Brochures 9 Conclusion 10 References 11 Introduction Bahrain Bourse is the stock exchange in Bahrain whose headquarter is in Manama, Bahrain. Bahrain Bourse was been formed long back in 1987, but it started its operations in 1989. It started with only 30 companies listed in its stocks, but now it has around 50 companies that are been listed. This body operates autonomously, and is supervised by an independent board of members and its chairman is the governor of central bank of Bahrain. Bahrain Bourse has continued its efforts in implement its strategy every year looking to achieve a developing process in all the work stages in the stock market in Bahrain. All these elements are been made to set a strong infrastructure which will enhance the Bourse to get their strategies and objectives successfully accomplished. The main focus of Bahrain bourse is to develop the legislative infrastructure of the capital market in Bahrain and improve the investment made in securities, encourage and give facilities to the investors and increase the awareness among them along with them who work in the capital market sector. Following the above points, Bahrain Bourse finalized the major required elements for corporate governance with its effort of adjusting itself in the correct way to meet the requirements of the new legal requirements as a shareholding company (BAHRAIN BOURSE. 2012, pp. 2-4). Marketing Model The following marketing model indicates the overall marketing for Bahrain Bourse. Marketing Strategy The main task for every management is to increase the shareholders’ value and take it to the maximum value. Shareholder returns increases when the company maximises its dividends or when the share prices increases (Belch and Michael, 2005, pp: 45-50). If the value of the shareholders is not maximised their business will come under a risk and new revenue will be difficult to generate. In this competitive world earning returns from the shareholders is regarded as the major necessity for survival of the business (Doyle, 2003, pp: 5-7). The marketing activities in shareholding companies should be a value based which must include good financial theories and set off. This value analysis is where in the value created increased the discounted value of cash flows. Making the marketing plan for Bahrain Bourse, the most important thing that is to be kept in mind is that the plan should be matching the business mission, support its products and services, help in improving the financial situation and also create a huge brand image in the global market. The market plan is done based on keeping the following points in mind. The company must know its strengths and weakness which can be understood by conducting the SWOT analysis and based on that it must look for market opportunities (Böhm, 2009, pp: 40-45). Company must analyse its products based on the value created by them on the customers as in what the customers are actually looking out for and what benefits can the customer avail from the particular service been provided by the company. Company should analyse its target customers and position its product or services in the target market itself. The particular business must know its competitors potential and relate it to its own potential to know the competitive advantage in the market. The company must select its process of marketing and sales based on the customers and market needs to achieve maximum revenue from the market. Company must always have a review over its market plan to check the extent to which the marketing activities have helped the company to generate more revenue, and the plan must be reframed and remade as per the changes in the market situation. SWOT analysis The SWOT analysis to know the strengths, weakness, opportunities and threats of Bahrain Bourse is been implemented and the following results have been obtained. This analysis can help the company to get a competitive advantage by using it for its improvement (Ebers and Wied, 2007, pp. 65-70). Strengths • The company has an extensive high rate of growth from 1989 and has listed many more companies under it. • Bahrain Bourse gets monetary help from the central bank of Bahrain. • It is an experienced business firm with highly experienced board of members and chairman been the governor of central bank of Bahrain. • The existing distribution network and sales channel is very wide across the whole of Bahrain. • The company doesn’t have the risk of any market entries in its competition. Opportunities It has a weak understanding of the global trend as a result its share index falls down to a great extent. Weaknesses It has a huge opportunity to come up with new products and services to provide more value to its shareholders Bahrain Bourse has the whole global market opened in front of it to target and provide its services in globally. The income level of the employees is increasing continuously as a result more of investors can be targeted. Bahrain Bourse has got the opportunity to acquire new shareholding companies across the globe. With Bahrain being a growing country its economic conditions are also growing as a result Bahrain Bourse will get lots of investors and companies getting listed. Threats The biggest threat for Bahrain Bourse is with the government laws and regulations that keep changing from time to time. With the changing rates of taxes, the number of investors also varies and it causes a big threat for Bahrain Bourse. This SWOT analysis of Bahrain Bourse gives a clear indication about the market position of the company in the competitive market globally. It enjoys monopoly in Bahrain as it is the only stock exchange, but in the global market it lags way behind. This analysis gives a clear idea about the growth of the company and its strengths and opportunities over which it needs to give lots of emphasis upon and also should look and try to improve itself with regard to the weakness that it has in the global market, by having a clear understanding of the global trend of ups and down of the market which does results in the fluctuations of its share index. STP analysis (Segmentation, targeting and Positioning) STP analysis is one of the most important factor in making the market plan as it helps to know the customers and also other aspects which are important for the market expansion in global basis (Burrow, 2011, pp: 67-70). Segmentation Companies need to have a good segmentation of the market over which it can provide its services that gives maximum satisfaction to the customers. Segmentation is done on the basis of various factors like demographic, geographic, psychographic and behavioural. Bahrain Bourse needs to segment itself based on all these factors to get the maximum revenue out of it. It should take care of the psychology of investors at different place, the government regulations in different countries and also the way companies across the world operate. For Bahrain Bourse to move in the global market and also for making other MNC’s in Bahrain to get listed it needs to have a clear study about the behaviour and also culture that is present in other parts or in other countries and thus taking those factors in mind it should look towards pitching itself in the market. Targeting Targeting the right customer is very important, as the product which is for a particular customer should be pitched to the same customer rather than other customers for which it will not create any value. BHB must find out who are the major target customers like the major investors and the various upcoming companies in Bahrain. In the global world it must target the specific countries in which it can move in rather than trying in every country. Positioning Positioning the particular stock exchange in different upcoming companies in Bahrain is the major part for the company it also needs to look to encourage more of investors which will increase the revenue. Promotion Correct way of promotion is very important for any company as it is the technique through which a company reaches the end customer and creates a brand image in the mind of the customers. The promotion strategy helps the companies to send their message to the customer in an easy way which attracts more of customers. The promotional strategy is done using three components in basic, which are advertising, personal sales and sales promotion. Bahrain Bourse needs to promote itself in the right way to attract more companies so that they get listed under BHB. The various platforms that BHB can use for promotional activities are campaigns, social media, website, Magazine and books and brochures. Campaigns BHB allows for online trading, as the director of BHB has announced incentives for the online traders. Its focus should be mainly towards the family owned small firms. BHB needs to various campaigns for various places as like different in Bahrain and different for global market. In Bahrain it can execute trade programs to increase the knowledge of trading among the investors, it can advertise its message in Bahrain radio and participate in various trade shows. On the other hand going into global market it should approach the retail investors by pitching and conducting meetings with them (Jobber, 2012, pp. 90-95). Social media and Websites Social media marketing has grown at an exponential rate over the last few years with most of the people across the world having access to various social media platforms like facebook, Instagram, Twitter. BHB can look to create events on its facebook page and spread it across the world that will attract many users as a result many investors can come to know and get information about BHB. Bahrain Bourse can promote the stock prices individually. BHB’s website is the most crucial marketing platform as every investors look to go through the website before investing on it. The BHB website should be easily accessible and provide lots of information to the customers regarding shareholding which will attract more customers to come in. Magazines BHB’s promotional activities should be done in huge way through providing articles and journals through various business magazines that can give a good message to the customers and also create awareness. BHB needs to publish non-paid circulated magazines after every scheduled date which might contain large contents regarding various events in BHB and also other information’s regarding financial securities. Books and Brochures In this generation every business managers look to go through various books and business brochures, BHB look to come out with new books and brochures with all the contents that will create a good image and also awareness among the clients. The books must be written used with simple language; it should be well structured without any mistakes so that it is easily understandable for the customers. The brochures must contain the information regarding how the investors can trade, what to trade and where to invest and also the cost for trading which will give good information about BHB to the clients in a brief way. Thus the marketing plan for BHB should be done through a variety of platforms website, press realise, social media and campaigns in a big manner which will help it to create awareness among the SME’s in Bahrain regarding the profits of investing and also create its image in the global market. Conclusion Bahrain Bourse being the Bahrain stock exchange has to try and promote itself in a big way so that it can get maximum number of companies listed under and more investors. It needs to make the marketing plan keeping in mind the value it creates in the mind of the customers. These promotional and marketing activities must send the message accurately to the customers so that they can have a clear view about BHB and understand the profits in investing in stock exchange platforms. BHB needs to see that its objectives are been achieved using the marketing plan and its mission and vision are been accomplished. The market plan must be made based on BHS’s mission statement and it should have different plans for global purpose and different for the companies in Bahrain. References Belch, G and Michael, G. 2005. Advertising &Promotion-An Integrated marketing Communications Perspective. London: McGraw-Hill. BAHRAIN BOURSE. 2012. ANNUAL REPORT. [pdf]. Available at: < http://www.bahrainbourse.net/downloads/Annual2012En.pdf >. [Accessed on March 4, 2014]. Doyle, P. 2003. Value-Based Marketing-Marketing Strategies for Corporate Growth and Shareholder Value. [pdf]. Available at: < http://up.p30room.ir/uploads/13513412961.pdf>. [Accessed on March 4, 2014]. Kingdom of Bahrain. 2013. ECONOMIC YEARBOOK. [pdf]. Available at: http://www.bahrainedb.com/en/EDBDocuments/Bahrain-Economic-Yearbook.pdf. [Accessed on March 4, 2014]. Böhm, A. 2009. The SWOT Analysis. Munich: GRIN Verlag Ebers, M and Wied, S. 2007. SWOT. Analysis Robert Mondavi and the Wine Industry. Munich: GRIN Verlag. Burrow, J., 2011. Marketing. Stamford: Cengage Learning. Jobber, D. 2012. Principles and Practice of Marketing. New York: McGraw-Hill Education. Read More