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This could include adding insurance services and even expanding overseas.
The key success factors focuses on services and SISCO has to develop differentiation by offering tailor-made products. Customer retention in the highly volatile market is essential and SISCO should devise packages to retain the customer base.
SISCO needs to be cognizant of the fact that at any point of time, should the oil prices crash, the market for all its products could come down drastically. The company has to be prepared for this contingency while devising their ambitious plans.
During their operation in the financial and mortgage industry, SISCO has developed its own customer base, thus cultivating its own niche market. An aggressive marketing will however lead to a growth of its customer base, thus making its presence widely known in Jeddah.
SISCO’s core business shall be the supply of financial services to both individuals and business owners, who have interests in the mortgage and property development industry. Following a study of the target market, the information acquired will hence help the company to better serve the needs of the customers.
Jeddah, the geographic target is situated near the red sea. The total targeted population is a little over 3 million “ A year on year increase of 4.48% (the population growth during this time was 2.83%).”(ameininfo)
The kingdom is witnessing a change in demographics of home development. Previously, individuals build at least 98 percent of the homes, whereas developers only handled the remaining 2 percent. The trend is however rapidly changing owing to a drastic rise in both the building materials, and a corresponding increase in development cost. “Suggesting an increase in nuclear families. Thus, demands for all kinds of household goods - white goods, automobiles, bank loans, furniture - will increase.”.(ameininfo)
There is a dire need to supply
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ives 13 4.3: Core Strategy 13 4.4: Target Market 13 4.4.1: PESTLE Analysis of the Target market 14 4.5: Competitor Targets 16 4.6: Competitive Advantage in the Target Market 16 5.0: Marketing Mix 17 5.1: Products 17 5.2: Promotion 17 5.3: Price 18 5.4: Place 18 6.0: Budget 19 7.0: Organization and Implementation 19 7.1: Weakness and control 20 References 21 Appendices 24 1.0: Executive Summary Due to increase in competition in global automotive industry, BMW have embarked on various marketing plans that are aimed at enhancing it survival in the market.
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