Devise a Marketing Strategy to present to the Marketing Director Essay

In this case study, I submit been given a number of roles and my task is to con positioningr and provide appropriate answers in the germane(predicate) business context where you apply learning from my course of study so far and my own work experiences.Question 1I am the executive program in the grocery storeing department and I believe that in that location is scope for gaining more(prenominal) gross sales in the standardised sector of the grocery store because of gauge differences between my product and those of astronomicr competitors.Devise a trade St enjoingy to present to the marketing Directordesigned to strike this stone pitCorporate ObjectivesThe Furniture Company, based in a sm totally townspeople in Lancashire, develops, manufactures and markets bore piece of furniture. The firm has a genuinely right-hand(a) disposition through come forward the entire region for all its products.The Furniture Companys Supervisor of the merchandise Department is at pr esent pursuing a strategy to grow its market sh ar in the standardised index of the market because of case differences between their product and those of larger companies. food marketing take stockInternalProduct High grapheme standardised products targeted at C1/C2 segments. Considered to be laster quality than those of larger competitors. The firm has a very pricey re put ination for quality products.Pricing -Currently sold to up market cuckold outlets and on all sales atomic number 18 thither is a very high-pitched profit margin on a relatively little turn over. Prices ar high than for similar attri onlye products in the large carry on outlets collect to economies of scale in purchasing.Place Customers mainly consist C1/C2 for the standardised furniture. Potential customers visit the familiaritys display showroom, in adepty do work by an accounts clerk, a salesperson, both of whom are full- clock time and two part-time salespersons at week overthrow.Promo tion Very little advertizement is done. Current advertise is mainly done via local press, and via direct mail all aimed locally. advertise pass off tends to be about 3% of revenue, with higher marketing spend in spite of appearance peak months.ExternalSocial Since consumer trends are al expressions changing, as are several of the products. With the traditional furniture, trends have bantam work on sales.Economic Figures to be confirmed. There is a spend of over 750,000 within East Lancashire in the furniture market. The predicted growth for next year is 2% due to current consumer spend (interest rate currently stands at XX, and swelling 2.6%).Competitive The Furniture Company faces many competitors, on its retail side are many, and on local scale there are rough 10 similar sized companies, although, the firm has a very good reputation throughout the entire region for all its products.Customer take stockStandardised products are aimed at C1/C2 segments.The competitions products were viewed as inferior to those of The Furniture Company, due to highly skilled craftsmanship.SWOT AnalysisStrengths* Availability, either via local showroom, placed just off motorway or via retail outlet* Access, panoptic showroom with manned module* ratifyed, very good reputation throughout the region* Established up market retail outlet supplier* Higher quality than those of larger competitors* Innovation, constantly designing sassy furniture for changing marketWeaknesses* Prices are slightly higher than for similar type productsOpportunities* Market Development* Selling to mid-market retail outlets Nationwide* Expanding product into europium & worldwideThreats* Prices are higher than for similar type products in the large retail outlets* Unable to keep up with supplier demandMarketing Objectives and StrategiesMarket DevelopmentAnsoffs Matrix is a well- sleep withn Marketing Tool for deciding upon strategies for growth. First published in the Harvard lineage g o over (1957) in an article called Strategies for Diversification (see below example).Market PenetrationBy marketing our existing products to our existing customers, thus increasing revenue, by promoting the product, move the tick. The aim is to encourage people to switch from other(a) furniture manufacturers.Market DevelopmentMarketing the product in a new market/target audience. By introducing the product into a new region and in addition exporting the product.Market Extension/Product DevelopmentSelling the existing standard furniture into new markets, nationwide and worldwide, as the product already has a strong marketing competence.DiversificationNot required manakin of The Ansoff MatrixProduct Life Cycle (see diagram below)Launch/ opening The product is introduced into new markets and heavily promoted to create sense. High tolls. Due to supremacy in the current markets, risk is fairly low.Growth Higher slew of sales changes The Furniture Company to arrive at from e conomies of scale. Products become more useful as sales rise and costs fall. publicise spend is nevertheless(prenominal) high and focuses on building upon a inciter name, ready for the due date and decline item to introduce new furniture after the sword has been established.Maturity Sales grow at a decreasing rate and then stabilise. Brand awareness is crucial in continuing success. The association retains its share of the market by capturing sales from weaker rivals by ensuring consistently quality furniture.Decline At this point there is a downturn in the market for this particular product. Sales and profit decline. New products are introduced or consumer tastes have alternated. Product puke be removed from the market at this stage and replaced by new furniture or profits stooge be improved by reducing marketing spend and cost cutting.Elimination/Withdrawal (or extension)When faced with decline in sales, the company pass on aim to decide whether the decline is Temp orary, Terminal and Irreversible or loose of being reversed by an adjustment in the marketing undulateExtensionTo rejuvenate the product to prolong its life by changing the product, the brand, the way it is promoted or the distri neverthelession channel.Question 2As supervisor in the marketing department one of my roles is to devise expansion strategies as question 1.I believe, however, that the high quality hand crafted furniture could get by to a national and ultimately international market especially if at some future point the U.K. joins the single currency.At present these products sell to a regional market and I have already put this idea to the Marketing Director and fulfilld a positive solvent to the extent that he wants you to do a presentation to the full display board of Directors on this ideaDevise a promotional campaign to be presented to the Board that would reach a national market for the higher quality products.Marketing is defined as the counseling process r esponsible for identifying, anticipating and straight the requirements of customer profitably.ProductIntroduce the standardised range and to a fault high quality furniture into mid-market and up-market retail outlets nationwide. The standardised range is higher quality than those of competitors. The handcrafted furniture provides high quality furniture aimed at the higher end of the market.PriceCost for the standardised product is slightly higher than its competitors. This washbasin stand being higher due being higher quality than the products of competitors.PlaceThe standardised products and the high quality furniture both sell currently to larger retail outlets and also to individual order. Introduction of the furniture into a national market and also international market.Promotion walk trials to nationwide retail outlets, both mid-market and up-market with the relevant products, with trial offers. Pay for advertising spend to promote the product within the area via local media, and also promote product and brand via in-store advertising and display stands. Brand awareness is very important at this stage.The Promotional Plan* Description of products purchasable* A description of target audience* Identification of the price* teaching on where the product allow for be sold* Methods to be utiliseo Posters placed at locations in store and places frequented by your target audienceo Press Release In ca-caing of the product to be selling locallyo Local News paper Advertising Advertising within locality using established media within the area promoting brand and producto Radio Advertising Informing of product and brand launch, aimed at prime time listening, selecting stations geared to 35+ and householder audience.Question 3I am employed as the supervisor in the Personnel Department and am responsible for the overseeing of the day-to-day tasks of the department. I am currently studying for the Institute of Personnel Management arriere pensee and have bec ome more familiar with the invention of serviceman race resources. usher a paper to the Personnel director outlining the benefits of introducing a HRM approach to the way of people and in particular how this would improve both productivity and motivation.indigence (Definition) a set of processes tingeed with the force that energises deportment and directs it towards attaining some goal.A strategic, coherent and comprehensive approach to the vigilance and festering of the organisations human resources in which every aspect of that approach is wholly integrated with the overall instruction of the organisation. HRM is essentially an ideology, quote M. Armstrong, taken from Handbook of humankind imagination Management, Kogan Page, 1999.Human resources tweakment activities relate to employees pay, welfare, conditions of employment and training.HRM is based on four principles* Employees moldiness be seen as valued assets in which to invest. It is human capability and commitmen t, which, in the final analysis, distinguishes successful organisations from the rest, Storey.* HRM is of strategic importance and, therefore, needs to be considered by top management in the formulation of the corporate plan.* Commitment non compliance. The key levers (the development of human resources evaluation of performance and the rewarding of it) are to be used to seek non merely compliance but commitment. In other words, employees should not be forced to work grudgingly, but by obtaining their wholehearted commitment* Strategic implications of HRM. HRM is therefore, seen to have long-term implications and be integral to the core performance of the business. It must be the intimate concern of the line charabancs. Line handlers have the responsibility of managing their staff. The role of personnel melt down is to enable the line managers to fulfil their HRM responsibilities effectively. slowly and Hard Approach to HRMThe mild approach can be closer than the traditional personnel approach. Soft HRM is an integrated strategic function that is concerned with nurturing people because they are human beings whose feelings should be considered and, developing this valuable resource is the best way to achieve results.The Hard approach is based on the belief that human resources are the key assets, with emphasis placed on* Getting more out of people* Using them in a more productive wayThe aims of HRM are the same whether hard or soft and as follows* enable management to achieve organisational objectives via its workforce* Enable people to utilise their full authority* Foster commitment* Integrate human resources policies with business plans* Establish an environment to unleash the creativity and energy of the workforce* Encourage tractability in the interests of an organisation that is able to adapt to the environment and achieve purityThe main areas of management activity associated with the HRM philosophy* Organisation, design and effectiveness espec ially in coincidence to teamwork, communications, customer service and change management* Resources providing human resources required by means of recruitment, retention and training programmes.* Performance management improving performance by means of appraisal* Reward management for example, linking pay to performance* Motivation redesigning jobs and devising rewards to motivate employees* Commitment The integrating of the needs of the individual with those of the organisation* Employee Relations Policies and procedures to encourage cooperation to the mutual benefit to all* Flexibility by means of mulitskilling redesigning jobs and new patterns of work* choice as a way of life* Culture management influencing behaviour and thereby attitudes by means of resourcing, performance management and reward strategies leading and MotivationIn the HRM school, Leadership should be democratic rather than authoritarian, managers should confer with employees on matters that affect them, import ant in gaining respect of both the manager and the company, motivation rewards of social and psychological, not just financial.Motivation is defined as in influence that cases people (employees) to want to behave in a certain way, and combined with ability can result in performance. The motivated worker will be keen to work, take pride in their work, will not display negative attitude towards the company, display high level of commitment and get satisfaction out of work, benefiting the organisation with higher productivity levels, lower labour turnover, lower absenteeism, improve quality with less waste, greater willingness to accept change, willingness to contribute ideas and take on additional responsibility, allowing the company to overall reap the benefits of even greater financial gain.In indemnification department, for example, possible financial reward could be brought into place looking at Hertzbergs Hygiene factors of Pay and Benefits, Working Conditions, Company Policy, Status, Job Security, Supervision, slip and Personal Lift all set to motivate Achievement, Recognition, Job Interest, accountability and ultimately Advancement.HRM could look at setting up motivation factors with the sales department by setting targets based on achieving sales to new retailers nationwide with additional financial gain based on and over achieving rewards.The key concepts to adapting a HRM approach to the company would provide the following contest advantage Aspects of the company that give it an advantage over its rivalsHuman Resource Management A strategic, coherent and comprehensive approach to the management and development of the companys human resourcesPersonnel Management Management/ governing body of recruitment, welfare and training of the employeesMcGregors Theory x and Y (1960)McGregors Theory X and Y (1960) about managerial behaviour had a profound effect on management thinking and practice. His Theory Y principles featured in management training cou rses for a decade or more. They influenced the design and death penalty of personnel policies and practices. The legacy today permeates the axioms of participative and total quality management and the keep practice of staff appraisal.McGregor defined assumptions that he felt underpinned the practices and stances of managers in relation to employees. These were evident from their conversations and actions. Two sets of propositions were dubbed Theory X and Y.He was saying that what managers express or showed in their behaviour revealed their theories-in-use. Their predisposition led managers to pursue particular kinds of policies and relationships with employees. McGregors Theory Y was interpreted and promoted as a one-best-way, i.e. Y is the best. Managers or aspects of their behaviour became labelled as Theory X, the bad emboss and Theory Y the good.McGregor ideas were a lot informed by Maslows need satisfaction model of motivation. Needs provide the driving force motivating behaviour and general orientation. Maslows ideas suggested that worker dissatisfaction with work was due to silly job design, managerial behaviour and too few opportunities for job satisfaction.On the basis of these ideas about drives Maslow suggested a classification of needs related to the development of the person lower level needs giving way developmentally to higher order needs. Thus a hierarchy is suggested although not claimed by Maslow.Example of Maslows HieratchyBenefitsIf we introduced a HRM approach to the company ultimately employees at all levels will feel motivated and productive as quoted by carrot & stick philosophy acceptance, and produce the most productivity.Employees will feel more worthy with a much easier line of communication with everyone feeling a valuable part of the organisation.The company needs to introduce a lead mentality rather than management leadership and nurturer a new leadership approach.At present the organisations communications systems a re by and large paper and telephone basedPresent a discussion text file to the Personnel director explaining the concept of this electronic office, including explanation of the relevant technologies and their potential benefitsYou should also point out any potential drawbacks from this innovation and close up with an evaluation of whether the benefits outweigh the drawbacks or vice versaWhile predictions of the paperless office have yet to be fully realised, modern business now relies on a vast array of electronic equipment to function efficiently and effectively.The concept of a paperless office is to ensure productivity improvement and to use time more efficiently.At present most of the organisations communications are paper and telephone based.Initially, by utilising e-mail (electronic mail, which is the main use of the internet) the following advantages are gained by replacing paper & telephone communication* Speed of deed and data* Paperless office* Accessible via any modem line* Delivery is rapid than snail mail (post, especially useful when dealing overseas)* It overcomes the problems of timezones. The recipient does not have to be there to receive it* Like fax, it is possible to aim substances to more than one person* E-mail addresses are portable* It enables users to alternate randomness with people* The cost is not dependent on the infinite travelled* It is cheaper than fax or telephone* Cuts out general reprimand on the telephone* Less formal than a letter* The message will remain in the recipients e-mail account until it is collected* outhouse be sent with document or picture attachment* E-mails can be stored until recipient discards informationInstalling computerised systems with each department will also benefit from enabling all staff to access shared data from different departments computerised filing systems, e.g. access into word documents, spread sheets and other programme files.With transportable laptops, the office can be taken anywhere and even used worldwide, to assist in presentations and retrieving documents on a more global scale.Document Management formationAnother new form of the electronic self-confidence is the Document Management System offering solutions from the standalone electronic scanner to a whole enterprise solution. E-Business solution companies analyse and advise on new business solutions. The Document Management System is a small step in the way forward for the paperless office, the benefits of incorporating the system is* Reduce office staff non-productivity rapidly locating folders and documents* Retain corporate knowledge and know where it is* Access paper documents within your business application* Scan your cabinets full of documents to secure them in case of Fire, Flood, Burglary or damage* Enable sixfold people access to the same document or folder* safely secure your documents for archival* Reduce boxes of stored paper* Automatically recognise forms and characters on incom ing documents and locate them based on their content* Fax and receive documents directly from your desktop* Establish document privacyElectronic Office ManagerIt is a Human Resources and Process Management System that focuses on the internal operations of your business. The EOM provides businesses with a computerised Office Manager, with everything defined as a procedure, checklist or form. Job Descriptions become daily to do lists. To help manage time with automated reminders covering everything from training events to holiday management.EOM also provides Electronic Human Resource and Training Departments with employee files, applicant databases, and pre-written and editable employee handbooks and job descriptions. It also includes a system for creating and scheduling training. EOM even helps with financial forecasting and business prep features and point-to-point web navigation and link management.Operative Procedures, HRM, Business Development, Scheduling and cultivation & Trai ning are all available via EOM programme.Electronic DrawbacksTraining and supervise of training will be required at each stage to ensure competence and understanding of new system. With regular meetings required, and management of the change in system.Staff may be dissatisfied with the paperless office, and reluctant to the change.System failure. Without the adequate after support service and/or training there could be potential problems with system errors, which may result in non-productivity if staff rely on PCs when there is a breakdown.A recent example pf a paperless office is one department of Glasgow Borough Council, who of late had a computerised system developed solely for the use. Originally, each site manager called into an office each morning to collect information on dissimilar sites requiring repair assessment visits (approx 20 throughout the day) followed by a see to each site and manual completion of an in-depth form, and followed by manually inputting information on the computer for someone else then to call out to exculpate the repair work. The Borough Council have now developed a computerised system to enable them to receive the site information via electronic organiser, input the repair requirements, and return information upon completion for repairs to be carried out. Not only did this save much time on paperwork, but also time is more effectively managed by receiving full details of jobs throughout the day, which may be in areas the site manager is already working in.BIBLIOGRAPHYJewell Bruce R, An Integrated Approach to Business Studies, Longman, 2000 ISBN 0582 40542 4Ansoffs Matrix, www.marketingteacher.com/lessons/lesson_ansoff.html accessed 31/05/02How do I market My Inventions, http//www.montanaedu/wwwcxai accessed 20/05/02The Electronic Office, www.walters.co.uk/brochure/elecoffice1.htm accessed 06/06/02Imaging and Document Management Solutions, www.cabinetng.net/paperlessoffice.htm accessed 05/06/02