Customer and Competitive Analysis, Environmental Trend and Competitive Positioning - Case Study Example

Table of Contents Introduction 2 Client Background 2 Problem Definition 3 Customer & Competitive Analysis 3 Environmental Trend and Competitive Positioning 4 Strategic Theories & Models 6 Conclusion 7 References 8 Introduction Organizations carry out research on a regular basis and are done with the prime purpose of understanding the manner in which different situation has an effect on the performance of business. This helps to find out a way through which the chances of failure of failure are reduced and the business is able to make the required changes in the best possible manner. This report conducts a research for Lee Peck Group Advertising Agency for expanding business over Bournemouth, Southampton, Portsmouth, Basingstoke and Reading. While looking to identify the potential and opportunities of growth the report looks at identifying the different promotional plan, communication strategy, marketing strategy and other strategy that Lee Peck Group Advertising Agency has to adopt for being successful. This will ensure that correct decisions are taken and will help to develop the desired path and road through which the goals can be achieved. Client Background Lee Peck Group Advertising Agency works in the field of advertising and promotion and is based in UK. It is a private company which stated its operation in the year 2008 and since then has grown its market share and improved its business through continuous innovation and delivering on the high standards that has helped to enhance customer satisfaction. The company has also developed an official site for itself and has the link as http://www.leepeckgroup.com/site/lpg/content-folder/home. With the passage of time and growth in the business Lee Peck Group Advertising Agency has continuously hired more and more employees and presently has around 27 employees. Lee Peck Group Advertising Agency while looking to grow has ensured that their brand building exercise helps them to build a bigger brand. This has helped in the development of brand equity and has consolidated their position in the market. Many people associate Lee Peck Group Advertising Agency as a superior company and look towards using the services of the company which will thereby provide an opportunity through which the company will be able to grow its business in other areas like Bournemouth, Southampton, Portsmouth, Basingstoke and Reading and will provide an opportunity through which risk will be diversified. Problem Definition The problem identification for Lee Peck Group Advertising Agency is to identify the opportunity that the market presents to expand its business in South West England and looks to include places like Bournemouth, Southampton, Portsmouth, Basingstoke and Reading. While looking to identify the potential that the market presents research is conducted to find out the manner in which customer prefer a particular advertising agency and the points through which the business will be able to ensure that they are able develop a pool of loyal customers. This will thereby present the manner in which Lee Peck Group Advertising Agency can look towards expanding their business by identifying the different opportunities that places like Bournemouth, Southampton, Portsmouth, Basingstoke and Reading presents. Customer & Competitive Analysis Lee Peck Group Advertising Agency provides services in various fields like education, property, leisure, automative, health care, professional services and event marketing fields. This has provided an opportunity through which the market has grown as being able to target different segment has ensured that Lee Peck Group Advertising Agency has a large market to cater to. The fact that Lee Peck Group Advertising Agency covers a different range of services it has enabled them to ensure that any one looking for an advertisement or a promotional campaign can contact the company. Since, the company specializes in this field it has broadened the horizon and has multiplied the opportunities that the customer has thereby giving a wide base of customer, who can be attracted (Donovan & Samler, 2004) Despite working in different sectors and directions the level of competition that Lee Peck Group Advertising Agency has to deal with is quite intense. The company faces both direct and indirect competition from other players performing in the same segment i.e. advertising and promotion. The company also has to deal with the competition that arises due to international business and companies working on the global arena. This has made it important that Lee Peck Group Advertising Agency looks towards differentiating their services and aims towards creating a niche market by developing services and products which will help to enhance customer satisfaction (Schermerhorn, Davidson, Poole, Simon, Woods & Chau, 2011). Environmental Trend & Competitive Positioning The environmental trend shows that customer prefer a particular advertising agency based on past experience or the quality of service which requires that the business is able to ensure a competitive positioning which will help to develop a pool of loyal customers and enable the business to gain efficiency. Some of the factors which could lead in that direction are as Price: This is one of the most important determinant which helps to determine the manner in which the customer looks towards choosing an advertising agency. Price in this segment is determined by the quality of advertisement and promotional campaign that has been developed. Customers thereby look towards choosing advertisement agencies which will provide quality services at competitive price so that their level of satisfaction can be enhanced. Timing: Customers also look towards ensuring that the developed advertisement is delivered on time and is as per the requirements that have been asked. This helps to ensure that customers are able to gain maximum benefit from using the promotional campaign and ensures better satisfaction. This is an aspect which Lee Peck Group Advertising Agency has to understand and ensure that they are able to deliver the required services at the correct time Services: This is the most important factor which helps to ensure competitive positioning as organizations that are able to provide quality services and is able to differentiate the same are able to position themselves better in comparison to others. This also requires that the advertising agencies look towards developing the required interface through which the customers understand the manner in which services will be provided and are able to look towards the services of the company. This will thereby require that Lee Peck Group Advertising Agency looks towards developing the required framework through which better services can be provided and mechanism developed through which better services can be provided to the customers (Eric, 2009). Past Experiences: Customers look towards choosing a particular advertisement agency based on their past experience that the customer had with the advertisement company. A company which is able to provide better services and ensure that customer satisfaction can be enhanced will be able to ensure that customers become loyal to the company. This will help to develop a pool of loyal customers through which the experience can be enhanced and better services can be provided. This will thereby ensure that Lee Peck Group Advertising Agency is able to work on the different aspect and look towards providing quality services through which customers can be retained (Eric, 2009). Strategic Theories & Models The research will help to find out the manner in which different theories and models can be used to retain customers which will provide an opportunity through which Lee Peck Group Advertising Agency will be able to expand its business over Bournemouth, Southampton, Portsmouth, Basingstoke and Reading. This models and theories will help to find out the manner in which services can be improved and an opportunity to conduct business elsewhere can be recognized. This will help to improve the overall efficiency and will thereby ensure that maximum efficiency can be provided (Milosevic & Srivannaboon, 2006). Conclusion This report thereby highlights the manner in which Lee Peck Group Advertising Agency will be able to expand its business over Bournemouth, Southampton, Portsmouth, Basingstoke and Reading by identifying the different factors through which customers can be retained and better services provided over a longer period of time. References Donovan, P. & Samler, T. 2004. Delighting Customers: The Ten-step Approach to Building a Customer-driven Organization. Managing Service Quality, 4 (6), 38 – 43 Eric, G. 2009. Business as environmental steward: the growth of greening. Journal of Business Strategy, 30 (5), 4 – 13 Lee, 2012. LeePeck Group Advertising Agency. Retrieved on December 10, 2012 from http://www.leepeckgroup.com/site/lpg/content-folder/home Milosevic, D. Z., & Srivannaboon, S. 2006. A theoretical framework for aligning project management with business strategy. Project Management Journal, 37(3), 98 Schermerhorn J, Davidson P, Poole D, Simon A, Woods, P & Chau So Ling 2011. Management foundations and applications - value pack, (1st edn AP). Milton, Qld, Australia: Wiley. ISBN: 978 0 471 43570 9 Read More