MMK325 Strategic Marketing Assignment Help

MMK325 Strategic Marketing Assignment Help

This solution gives you details about the strategic marketing assignment and it gives the answer of the following questions also. 1.1 Treat the beliefs and opinions of the other group members with respect. 1.2 Demonstrate excellent personal organizational skills and timekeeping. 1.3 Communicate effectively with the rest of the group; this includes any problems with the allocated work or completion of tasks.

Mission and Vision for the planned period:

Marshall should aim at reducing the operational gap that they have in terms of their production and at the same time work towards meeting the demands and make use of this growing demand in translating it into reducing the operational costs. They should aim to become one of the leading brands and differentiate themselves from others by means of new product developments and innovation that can help them in passing on the benefits to the customers by means of better products and solutions to the customers.

Marshall should identify the markets and new products that they are planning to invest and strategically invest in them based on the potential that they see in these markets. One of the key areas of focus for the brand should be to integrate better social and economic practices to the existing ones so as to offer better solutions to the customers. They should also look at bettering their landscaping solutions and extend themselves to become a complete provider in terms of the landscaping solutions.

The main strategic marketing goals of the organization in the back drop of an average performance has to be to concentrate on the short term wins and focus more on medium term investment. The company will have to diversify its product offerings so that they can minimize the risks. They will have to move into a more focused approach mainly targeting the government institutions and commercial spaces that can help them in achieving these medium term goals (Ansoff, 2008) . They will have to work more on the merchandising part for their vendors that will enable them to get a broader base in the domestic market and at the same time they will have to cautiously move into the international markets that are similar to the domestic market and create a name for themselves in these markets by coming up with integrated and innovative product solutions for the international market to get a name for themselves. In the long run the company should aim at delivering the value for their shareholders investment and at the same time should give more focus on other issues like the environmental impact that they have in their vicinity of operation (Fifield and Gilligan, 1996). They should also try and build a strong network with the various builders associations and at the same time work with various NGOs in ensuring that the employee rights are being protected. At a short term these factors are not going to have a big impact in giving the short term returns to the organization but one must admit that these initiatives will go a long way in building the brand that would ease out many things in terms of doing business for Marshalls. They should also be looking at entering into partnership with organizations of similar nature or may be organically acquire them so that these business units can work together in making their product and service offerings better and hence command a premium in the market.

Sales and Profit Objectives:

One of the main objectives of the organization should be to consolidate on its existing position and become of the leading brands in the market in the landscaping solutions. Thetop management will have to work towards creating the brand name that they can bank upon and create the pull in their products. The area managers or local distributors will have to be on the job in ensuring that the customer’s requirements are being met till the last mile and ensure a seamless service delivery that would go a long way in creating a better brand other than the products. The focus should also be on selling not only the core product lines but offer the customers with a complete landscaping solution so that the company can earn a better margin on those solutions. The local managers should also come up with ideas with which they can predict the demand much better thus helping the production to meet the demands and reduce the operational costs by just in time inventory management (Kotler and Lee, 2006). They can also come up with branded marked products in their premium offering and may be look at separating that out from the current product line thus command a premium for these products. Entering into associations with builders and various associations as well as government organizations should be the key focus area of the middle level management in the coming years mainly because that will help them in getting the required mileage out of the relationship that they have and at the same time this will also help them to stabilize their profits (Fisher, et al, 2006). Similarly, the contracts with the suppliers needs to be finalized for a longer term that can help the company in predicting the operational costs better and at the same time this would help them in working on a long term plan for the sales team. The sales team should also focus on various promotional activities to ensure that their innovative product line and the values are being brought to the customers and also back it with a technical support and service team that would take care of the customer requirements. Entering into partnerships with the government organizations and leveraging these associations for the promotional purpose can help them build a credible brand name for themselves even though they are a well-established name in the market. The sales team should also help the senior management in identifying segments that are profitable for them and the company should focus more on these segments in terms of the promotions and sales for the medium term so that they can get a boost in their revenues. At the same time, the top management will have to take a call on whether they should continue to operate in segments that are no longer profitable for them and hence they should either try to get out of business from these segments that are not so profitable for the organization in a phased manner or they should look at integrating these segments and put in a less concerted efforts in terms of sales in these segments.

Customer Objectives:

They should have different strategies going forward to meet the commercial and domestic customer demands. In the commercial market they should focus more on builder’s organizations contractors and architects and establish themselves as a partner by providing the customized solutions. The company should focus on those sectors where the government investments are likely like transportation etc. The top management should make a concentrated effort in this front so that they can build on their B2B business to become one of the most profitable streams of business. The sales team should be backed up by the customer support and technical teams who would work with these corporates in providing customized integrated solutions to the end customer rather than being a supplier of sandstones and other materials. The company has already made inroads in this market with good partnerships with some of the major infrastructure projects coming up in the region. At the other end they should be consolidating on their B2C sales by introducing more products in line for the retail customers. For this segment the company should target the distributors in driving their sales to the end customers and take their help in predicting the demand for various products so that they can ensure complete supply of the material. They should make use of this B2C route mainly to create a positive brand image even though this segment is more likely contribute lesser revenue margins for the company. But nonetheless this would help them in getting a positive word of mouth out there in the market which can help them in building on the commercial business (Abram, 2006). In the commercial space they can also look into moving to other areas like the water management and traffic management initiatives that would diversify the risks for the business and at the same time this would be a new product line that could compliment well with their existing solutions. The sales team should be supported well by the analytics team in identifying sectors and areas that they can target and even though the company already does this there is a lot more that can be done to make this a success. They should also have some customer meets where they can have these builders and architects discuss on various issues that they face and the support that they are looking from Marshalls thus the company can ensure that they come up with customized landscaping solutions for the customers and focus themselves in the right direction in terms of the new product development. For the past some time, the demand for multiple products is the norm in the landscaping industry and it is only good for the company in pushing these integrated solutions to the commercial customers. Marshalls has been seen as one of the leading landscaping solution provider in the market and their sales team should ensure that the service delivery matches up to this expectation so that they can enter into more segments and at the same time gain a better market share.

References:

  • Fisher, Patricia H. Marseille M. Pride, and Ellen G. Miller.2006 Blueprint for Your Marketing Plan: A Guide to Help You Survive and Thrive. Chicago: American Library  Association,
  • Kotler, Philip and Nancy Lee 2006. Marketing in the Public Sector: A Roadmap for Improved Performance. Philadelphia: Wharton School Publishing.
  • Abram, Stephen.2006, "Waiting for Your Cat to Bark: Competing with Google and Its Ilk." In  SirsiDynix OneSource
  • Ansoff, H.I. 2008 Corporate Strategy . Harmondsworth : Penguin Books .
  • Singh, Rajesh.2007, "Developing a Marketing Culture." Feliciter 53, no. 3 : 145-147.
  • Fifield , P. and Gilligan , C.T.1996, Strategic Marketing Management: Planning and Control, Analysis and Decision , 2nd edn Oxford : Butterworth-Heinemann .