Integrated Marketing Communication Plan: MJ Freeways - Case Study Example

MJ FREEWAYS Number 5: Problem ment: As one of the leading cannabis tracking company, MJ Freeways must achieve efficiency in building its brand image, wading off competition, and it must have the capability of satisfying its customers. Organizations such as Apple Inc, Samsung, and Microsoft are business leaders in the software and hardware industry because they have managed to build a very strong brand image for their companies (Ferrell, 20). These companies are associated with various corporate social responsibility programs, and these programs include issuance of scholarship funds, environmental conservation, and engaging in volunteer activities that can help in positively transforming the society. The cannabis tracking industry is also a highly competitive sector, and the ability to achieve a competitive advantage over its rivals, would play a role in ensuring that the organization manages to increase the share of its market, hence making good profits. Singapore airlines is a company that faces stiff competition in the airline industry, but because of cost cutting measures and proper management, the company has managed to a be leader in the airline industry, and it is characterized by making profits, when its competitors such as Malaysia Airlines, Dubai emirates, etc, are constantly making losses (Ferrell, 27). Satisfaction of customers is an important method of gaining a competitive advantage over rivals, and this would ensure that the company is able to get loyal customers. A loyal customer will always return to the organization, for purposes of accessing the various services offered by the organization. Unfortunately, MJ Freeways is unable to build a positive brand image, wade off its competitors, and produce services that have the capability of satisfying its target customers. The inability of building a positive brand image for the company is a problem mainly because customers would doing business to its competitors, who have a positive reputation, or image. This would in turn lead to losses, because the company won’t manage to sale its services. The primary reason it was established. An example is the decision by Toyota to recall more than 100 vehicles, because of safety concerns. This in turn led to the development of a poor brand image for Toyota, and leading to a drop in its sales. In ability to wade off competition, or achieve a competitive advantage over its rivals is disadvantageous, and this is because of the reduced profits that the organization may incur. Industries that have many competitors are known to be less profitable (Ferrell, 17). A reduction in profits would mean that the company does not achieve its objectives of profit maximization. Companies that are unable to satisfy their customers will most definitely fail to make profits. This means that the company may go bankrupt, leading to its closure. An example is Nokia, which was one of the largest mobile phone companies, but because of its inability to produce mobile phone products that would satisfy its customers, the company began to make losses, and it had to be acquired by Microsoft, to save it from bankruptcy. Based on these facts, the company needs to find a solution on the best methods of solving their problems. Therefore, getting a solution to these problems would help, MJ Freeways to increase the share of its market, hence making some profits. Number 6: Objectives The major objective of this marketing plan is to study the strengths and weaknesses of MJ Freeways, and come up with methods that can be used for purposes of solving its weaknesses. It is important to explain that the weaknesses of the organization are contained in the problem statement, which provides some information of thee weaknesses of this organization, and the reasons why it is important to solve the identified weaknesses. To achieve this objective, this paper aims at, Conducting a SWOT analysis of the organization. A SWOT analysis is an important tool that is helpful in the identification of the strengths, opportunities, weaknesses and threats of the organization. This would help in the identification of the best tools to use, in solving the problem of the organization. Carrying out a market analysis. This would entail the identification of the size of the market, and the competitor of the organization. Having this knowledge would also help in the development of efficient tools that can help in solving the problems of the organization. Identification of the target market, and its segment. It is practically impossible to develop a marketing plan, without having knowledge of the segments or target market of an organization. This section would therefore highlight the market segment of MJ Freeways, and its target market. This would further help in solving the problems of the organization, and hence come up with an efficient market plan, that would confirm the position of MJ Freeways as a market leader in the Cannabis software tracking industry. No7: Recommendations One of the major weaknesses of MJ Freeways is the inability of the company to create a positive brand image. This is because of the name of the company. The name of the company, does not indicate the kind of business it is engaging in, hence it is difficult for customers to know the specialty of the organization (Ferrell, 33). Take for instance, one of the major competitors of the organization, Bio Track THC. This company has a name that is able to indicate the kind of service that it is providing. Through the name Bio Track, potential customers are able to k now that this is a tracking company, and hence they should engage in it, for purposes of acquiring and using their services. This is the major weakness of MJ Freeways. For instance, to a lay person, MJ Freeways may be a non-governmental organization that is responsible for promoting democracy, or even a liberal style of governance. However, this is not the case, because MJ Freeways is a Cannabis Tracking company. Based on these facts, there is a need of changing the name of the company, to MJ Cannabis Tracking Company. Through this name, customers will be able to identify the company with the service that it offers. Furthermore, for purposes of creating an appealing brand name, and image, the company should engage in a corporate responsibility program. This involves a circumstance where the organization will seek to initiate activities whose major aim or objectives is to promote the brand image of the company. For instance, the company should aim at promoting or sponsoring vulnerable children such as orphans or the less fortunate within the society. This is an example of a corporate social responsibility program that the organization should embark on. However, it is important to understand that in the current century, customers are highly concerned with the environment, and the best methods of conserving the environment. This is because of the concept of global warming, which means the changes in the weather patterns and climate, brought by the emission of greenhouse gas, into the atmosphere. A company such as Apples Inc has realized in the need of protecting the environment and the effects it has in improving its sales. Based on these facts, Apples Inc has initiated a series of measures whose intentions are to conserve the environment, and this includes the production of sleek and slim phones, that has the capability of conserving energy. Environmental conservation as a corporate program and business strategy is adopted by almost every major company, which is seeking to build a positive image to their customers. MJ Freeways should therefore adopt this strategy, for purposes of building a positive image that can help it achieve a competitive advantage over other companies that are its rivals. Furthermore, for purposes of achieving a competitive advantage over its rivals, MJ Freeways should adopt the cost leadership strategy. This is a strategy that a company such as Wall-Mart has successfully used, for purposes of achieving a competitive advantage over its rivals (Ferrell, 21). For instance, competition in the retailing sector is highly intense, and companies must be innovative for purposes of surviving in this industry. Wall-Mart on the other hand, has come up with the cost reduction techniques, whereby it is selling its products at a cheaper price when compared to the products of its competitors. This has made the company to be one of the most profitable retailing organizations in the world. MJ Freeways should from Wall-Mart, and seek methods of achieving a cost leadership in its target market. The most efficient and best method of using this strategy is to reduce production and administrative costs. This would in turn help the organization to reduce the costs of its services, making it to be able to achieve a competitive advantage over its rivals (Ferrell, 39). In regard to customer satisfaction, the company should carry out a survey, and some market research, for purposes of finding out the various needs of its target market. This would make the company to come up with strategies that can help in making it to achieve success in developing products and services that can satisfy its target market. Works Cited: Top of Form Ferrell, O C. Marketing. Australia ; Mason, OH: South Western Cengage Learning, 2014. Print. Bottom of Form Read More