BSBMKG603B Manage the Marketing Process In 2020

BSBMKG603B- Manage the marketing process

Assessment Task 1: Marketing Management Plan

Introduction

Marketing is playing a vital role in the organization as it helps in developing the sales and growth as well as helps in bringing organizational change. The purpose of this marketing plan is to develop a marketing campaign for next six months in order to achieve the organizational objectives as well as to increase marketing so that seasonal demand growth can be matched.

In this, different segments will be discussed in-depth in order to provide the marketing information by monitoring and reviewing the progress (Akbar et al., 2017). In addition, different KPIs (Key performance indicators) will also be assessed in respect to marketing activities.

For targeting the seasonal demand, the marketing plan will also focus on different marketing mix and target market so that more customers are targeted and products & services are targets efficiently in a competitive market. While developing a marketing management plan, tools and techniques of marketing also need to be focused on carefully and efficiently (Belch et al., 2014).

Further, this report will also discuss some marketing strategies which will help the company in implementing the plan successfully in the business in order to promote the sales in the seasonal period. At last, this marketing management plan will help in developing an understanding regarding the importance of marketing activities for meeting the seasonal demand effectively.

Marketing Objectives

The objective of this marketing plan is to increase the marketing in order to promote the sales and growth in seasonal demand.

  • To increase marketing sales by 10 %
  • To increase target market through existing and new categories of products and services
  • To satisfy the customers in an efficient manner

Segmentation, positioning, and targeting

Market segmentation plays a crucial role in categorizing the market segments according to different aspects like profit, demand, income and so on. For every organization, it is difficult to target the market completely by satisfying customers in different areas through products and services.

In this situation, an organization will segment the market so that it becomes easy to target the target the market (De Mooij, 2013). In regards to this, customers will be targeted and attracted towards existing and new products which satisfy the customers. Under this marketing plan, an organization will position itself by providing customers with innovative products which meet their demands efficiently.

In addition, the organization will also adopt the positioning strategy in which customer will be aware of the brand and quality of the product through effective marketing campaign strategy.

Marketing strategies

Marketing strategies are strategies which are developed to promote and market the products and services in order to increase the sales. But for increasing the sales in the seasonal market, there is a high need to understand the organization market segment or area that is to be targeted by marketing activities to a large extent.

The marketing strategies for this marketing plan are to use best suitable marketing tools and techniques in order to attract a large number of customers as well as to increase the sales and growth in the seasonal demand (Singh et al., 2014). In addition, the main focus to meet the seasonal demand is to develop a marketing strategy under which Business to customer model will be used to target the segmented market.

On the other side, push & pull marketing strategy will also be sued to attract the customers and demand in seasonal time periods for achieving high sales and growth.

Marketing mix

Price

The price of home-ware product and services will be kept reasonable and affordable so that large numbers of customers purchase and utilize the offered services.

Product

The organization is offering and designing a new two categories of home-ware products and services such as bedroom fittings and decorative items (Rüth & Netzer, 2016).  All these new and existing products provide innovative services to customers for satisfying their requirements.

Place

Home ware products and services demand is increasing rapidly in a competitive market and for that effective distribution channel will be used for making the products and services available to the customers. For this, the company needs to place or locate the products in different market areas like a mall, interior shops, etc.

Promotion

For promoting the products and services, the organization will select the best suitable tools and techniques like print media, discounts, etc (Valette-Florence et al., 2011).

Monitoring Progress

It is mandatory for any organization to monitor the performance level of the adopted strategies and practices to achieve the desired goals. For this, a comparative analysis can be conducted by comparing the actual performance with the desired performance level.

It can be helpful to determine any deviation between the actual and desired performance and take effective measures to fulfill the gap.  In addition, marketing analytics can be used to monitor campaigns and their outcomes to measure the effectiveness of the adopting marketing practices.

In order to measure the marketing performance, SEO position, pay-per-click ads, Google analytics are effective measures that can be helpful to monitor the marketing performance.

Key Performance Indicators (KPIs)

Every organization should review its performance by measuring its objectives and strategies with key performance indicators in order to ensure that organization is efficiently managing its position and aim its goals successfully. There are some number of key performance indicators which help in performance measurement:

Return on investment

This key performance indicator help in evaluating the return n investment which will bw made for increasing the sales in next six months by meeting seasonal demand.

Profit

This indicator will help in analyzing the gross and net profit margin in order to understand that how better and successfully organization is generating its profit by increasing the sales.

Market Share

This will help in measuring the increasing the market share of the company in the competitive market.

Promotional tools and techniques

There are promotional tools and techniques which include print media, broadcast media, etc are used for marketing the product efficiently and effectively (Guo-li, 2010). In addition, pre-budget will also be prepared for determining the media cost.

S. No Media Cost Amount (In Australia dollar)
1. Advertising $ 7000
2. Sales promotion i.e. point of purchase, display boards & mobile vans $ 5800
Creative media
3. Digital Media

  • Web designer
  • Content designer
  • Recruitment of Creative team such as technicians
$ 40000

$ 15000

$ 10000

 

$ 15000

4. Print media (Paper Expenses) $ 1000
5. Social Media  (Message Designer)

Total

$ 2000

$ 55800

Conclusion

The above study helps in concluding that marketing management plan provides an opportunity for an organization to develop the marking activities in order to meet the seasonal demand and growth.

The segmentation, targeting and positioning study also help in defining the market segment and target customers for an organization. This study also determines the marketing strategy in which organization needs to focus on business to customer model as well as on marketing tools and techniques in order to increase the sales as well as achieve all marketing objectives.

In this development of marketing plan, it is also found that price; place, promotion, and product are effective marketing mix which organization will use so that marketing objectives get achieved successfully. At last, it can be stated that by using this marketing plan, the company will be in a profitable situation where best marketing mix and push and pull strategy will be used.

References

Akbar, F., Omar, A. R. B., Wadood, F., &Yusoff, W., (2017) Niche Marketing Strategy Framework for SMEs: A Conceptual Framework.

Belch, G. E., Belch, M. A., Kerr, G. F., & Powell, I. (2014) Advertising: An integrated marketing communication perspective. USA: McGraw-Hill Education.

De Mooij, M. (2013) Global marketing and advertising: Understanding cultural paradoxes. USA: Sage Publications.

Guo-li, Y. (2010) Project time and budget monitor and control. Management Science and Engineering, 4(1), pp. 56.

Rüth, R., & Netzer, T., (2016) Successful cooperative marketing: Leveraging a powerful and diverse marketing tool. The Marketing Review, 16(4), pp.405-418.

Singh, J., P. Kalafatis, S., & Ledden, L., (2014) Consumer perceptions of co brands: The role of brand positioning strategies. Marketing Intelligence & Planning, 32(2), pp.145-159.

Valette-Florence, P., Guizani, H., & Merunka, D. (2011) The impact of brand personality and sales promotions on brand equity. Journal of Business Research, 64(1), pp. 24-28.

Assessment Task 2

Strategies

In order to mentoring and coaching the staff, the organization can use different strategies like set the goals, provide the feedbacks, rewards & celebrations, collaboration, etc. The goal setting and collaboration strategies are most suitable for the marketing activates.

The goal setting plays vital role to increase the productivity and employee performance in the organization (Rhodes and Fletcher, 2013). The employee has target to complete them timely with effectiveness.

Additionally, the collaboration helps the employee to understand the work with other employees. The strategies of mentoring and coaching to the staff members provide the opportunities to develop the potentials of the employee.

Resource

The staffing support plan requires the different resources for effectively accomplish the organizational goals such as training place, trainer, training material, human resources, information, etc.

The resources are necessary to develop the skills of the employee where they can develop their formal and informal relation in the market (Passarelli, 2015). A mentor provides the effective training to the employees by which they can increase their performance in the market. Additionally, a coach also works like mentor but he or she starts the work by creating the relationship.

Feedback

The feedback is most important part to provide effective review of the employee’s performance. The purpose of providing feedback is to analyze the understanding level of the employee after the coaching and mentoring (Beattie, et at., 2014).

In addition to this, the expectation of the coaching is also analyzed that the coaching is developing the performance of the employee or not. The feedback of the staff members should be specific and simple to understand the performance level of the employee after providing the coaching. The provided feedbacks help to understand the values and importance of the marketing activities.

Performance

The performance of the trained employee should also be analyzed after the feedback. It is because the performance analysis is also used for identifying the weaknesses of the team and individual.

The marketing objectives can be fulfilled by analyzing the performance level of the employee and their team members (Duff, 2013). The performance also identifies different weaknesses of the marketing activities so that the management can take the actions for reducing them in effective manner.

The increasing performance of an employee provides the positive result of the mentoring and coaching of the different staff members in the marketing activities.

Response for first scenario

Marie- Coaching and Mentoring

Coaching and mentoring should have excellent listening as well as responding skill and also have the skill to maintain the confidentiality. This states that skills should be non-judgmental as it has objective outlook.

In addition, one to one coaching individual provides un-biased, confidential support for providing knowledge related to web designing or web marketing and also PR marketing skills.

To assist Marie in achieving the marketing outcome for that I would like to provide one-to-one coaching by following well-defined steps. However, it is found that Marie is uncertain while following any of her undertakings.

In this case, the first step is to coaching session through which it world help her to gain trust and confidence in herself. Then, I would try to discover that What Marie already knows related to advertising.

This would help in decision making as this can serve an opinion for new data and also would help me in rectifying the information that she may occur earlier. Since, Marie is a keen learner and has an effective work performance skill. Marie evaluates the learning by appreciating the information which is presented to her and she plays as expertise role.

In concern to this, Marie needs a training or assistance in web designing and web marketing. Thus, I would display all information and data by showcasing the work techniques on the field. After that, the next step would be to repeat the presentation related to data techniques that she needs to work on more. Therefore, I would state that repetition would develop the chances of holding and understanding the data.

Response for second scenario

Tony- Taking corrective action- Attitude and Action

From the case study, it is found that Tony rejected to share his knowledge with Marie and treated Marie as distain. From this, it is clear that Tony is never keen to share his knowledge with anyone as he feels his knowledge as his own intellectual capital.

From the study, it is also observed that teaching jargon learning is difficult for promoting the unethical practices and this defines less keen interest of his on store visits. At the same time, Lambert Consultant Company’s website has a link with a home business that friend of tony operates.

While evaluating the Tony performance, it is found that his work performance is not effective as he only focuses and concentrates on ideas sharing through internet marketing.

After observation, it is found that Tony follows an unethical work practices which are illegal and against the policies and procedure of the company. I would concentrate on the specific direct and action rather than focusing on his own identity or mentality.

Tony performance to date has raised issues which enforced me to undertake corrective measures for providing the guarantee against the issue as well as on achieving marketing outcomes. In concern to this, following corrective actions must be undertaken in order to achieve the marketing outcomes are as follows:

  • Proper monitoring & evaluation process
  • Timely sharing of detailed information related to web marketing or designing, and
  • Different ways to deal with watch staff members of the organization.

References

Duff, A.J., 2013. Performance management coaching: Servant leadership and gender implications. Leadership & Organization Development Journal34(3), pp.204-221.

Beattie, R.S., Kim, S., Hagen, M.S., Egan, T.M., Ellinger, A.D. and Hamlin, R.G., 2014. Managerial coaching: A review of the empirical literature and development of a model to guide future practice. Advances in Developing Human Resources16(2), pp.184-201.

Passarelli, A.M., 2015. Vision-based coaching: optimizing resources for leader development. Frontiers in psychology6, p.412.

Rhodes, C. and Fletcher, S., 2013. Coaching and mentoring for self-efficacious leadership in schools. International Journal of Mentoring and Coaching in Education2(1), pp.47-63.

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