Marketing Planning and Marketing Audit - Essay Example

Marketing Planning Marketing Audit basically involves a research and analysis of the marketing environment that a certain product must survive through in order to see itself as a marketable entity. A number of possibilities and complexities can and will affect a certain product as it is launched. From macro to micro elements, the company must go through an intense research-based analysis so as to better understand the market. A number of things are considered so as to get a better understanding and see a potential future of the product in question. The most important of all such questions is the appreciation of the environmental impact. What demographics lay waiting for the product launch? What such developments and trends effect the possibilities or eventual life of the product in question? And what answers to all these stated complexities has the company planned to take? These questions eventually merge into the economic chapter with questions such as the development and effect of prices, savings and the general trend of people and society has taken and its effects. Are potential factors of production, inclusive of the natural resources as well as capital and labor within the reach of the company so as to expand considerably? Do any of its decisions pose a legal threat or complication? The eventual effect of technology is another factor. Is the technology available adjustable or a new and expensive capital investment is necessary. If so, is it too expensive for the cost-push inflation effects to discourage its life as a commodity? Does if have influences or is victim to being influenced by political or cultural complications? And lastly the market structures are analyzed. The customers and their reactions and trends towards similar or new innovative products considered. The size of the markets, the type and the profits analyzed. What about significant competition and the resulting cut in prices? The facilitators and marketing firms, the suppliers and indeed the distribution and dealers considered. Only then, after such a study, is a product, truly launched (Dibbs and Simkin, 2008). The main problem that Sky faces in order to launch its services to a broader audience is, simply put, the different components that can promise a success. First and foremost, the 3D audience that Sky wishes to capture is basically the ones who own HD televisions in the Europe, amounting to around 12 million households. These customers, already getting accustomed to their new and expensive HD sets, are less likely to appreciate further funding into this media to buy better set-top boxes or instead cash in on new 3D Televisions. Both such endeavors are unpopular and considerably expensive. Besides that, though it was able to impress many due to its teasers and previews, Sky plans to launch just one 3D Channel, hardly an eye-raiser. Although most media giants mainly Sony, Panasonic and Samsung are working in to provide televisions at lower costs, it is likely not to happen in the near future (Edward C. 2010). Also the support from other market leaders such as the blu-ray industry that is mainly used for writing 3D software and indeed the console market. Not only does Sky need to collaborate with such companies but it also needs other channels such as ESPN to blend themselves into this field. Though ESPN did introduce the Mexico-South Africa game of the Worldcup in 3D, they still believe it more of an experiment (Michael, H. 2010 ). Lastly companies that plan to act as competitors to Sky in this field are trying to lower down the costs of buying such extravagant televisions and expensive subscriptions by instead issuing a set-top boxes that convert the 2D images into 3D, without the need for 3D televisions. As Sky’s basic marketing strategy is basically set upon introducing the new TV sets into homes, it needs to choose options that not only reduce the potential competitors markets but also win them brand loyalty. The company, with its already vast customers and loyal market needs to be prepared to handle all the above described situations with creativity and innovation. They plan to bring in a new product, a new phenomenon per se; and marketing such infant products always is difficult in the begaining. First and foremost, it needs to make sure that all the informantion and analysis that it has collected is correct to the minutest detail. Indulgence in Marketing planning requires a thorough understanding of the principles of marketing and economics. The trends and elasticities cannot and must not be ignored. Although this would involve a large and expensive advertisement campaign and even a thorough customer-to-customer opinionated survey, it would all eventually help it out in the end. Though, it’s attempts to appreciate innovation that discards the usage of 3D glasses is commendable, it needs to do more. By suggesting offering discounts to available HD subscribers, the company is likely not to gain much for even today, a minute part of its customer ship owns these televisions. What Sky needs to do is offer the television at a minimum price to all of its customers, promising offers and future developments. The customers need to have a better understanding of the product so as to better appreciate it for which the company can emphasis and portray the differences between the different technologies. Once done, the number customers convinced would give them a better idea of the market, something necessary. These should than be repeatedly emphasized and the facility of customer care firms be used so as to convince them to become members. By calling the customers as a family, the psychological measures can be used too to convince them to get a chance to become members so as to be ‘better looked after.’ Lastly, offering genre related programs such as sports, fashion, cartoons and history, they can gain advantages of different preferences among the people (Holloway, A. 2005). The question of marketing ethics is indeed a speed-breaker when it comes to indulgence in profitability race. Is the company allowed to exploit and take advantage, certainly no! Not only has the market adjusted into appreciating the importance of such ethics, it has also begun to deem it necessary (Schlegelmilch,B, B. 1998). The issues that might arise can consist of the demanding from the customers to invest in 3D televisions sets, creating distinction and classes among the subscribers, acting as a monopoly to the 3D network placing prices that prove a loss to any potential competitor and last but not the least creating oligopolies that invite imperfect market competitions. The reaction of the public and the companies so as to better understand why such acts must be avoided would be vital for Sky. For this the Super-Size saga of McDonalds and Microsoft can be considered and analyzed. Keeping all this in mind, it is only than would Sky be better able to handle this new market and win over customers and loyalists. Refrences: Dibb, S. and Simkin, L. (2008) Marketing Planning: A Workbook for Marketing Managers. United Kingdom: Cengage Learning EMEA Edward C., B. (n.d). Watching the World Cup in 3D is nifty, if not .. USA Today, Retrieved from Academic Search Premier database Michael, H. (n.d). For World Cup, ESPN puts on its 3D glasses. USA Today, Retrieved from Academic Search Premier database Holloway, A. (2005). The customer is king. Canadian Business, 78(14/15), 62-65. Retrieved from Academic Search Premier database Schlegelmilch,B, B. (1998) Marketing ethics: an international perspective. North Yorkshire: Thomson Learning   Read More