This report focuses on analyzing and evaluating the e-marketing strategy of Port Fairy Caravan and Camping Park Pty Ltd. It discusses the current situation, opportunity statement, critical assumptions and constraints, analysis of options and recommendations, financial analysis, and project scope.
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Running head: CHANGE IN E-MARKETING STRATEGY Change in e-marketing strategy Enter: Name of the Student: Enter: Name of the University: Authors note:
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1 CHANGE IN E-MARKETING STRATEGY Table of Contents Introduction................................................................................................................................3 Project background.....................................................................................................................4 Organizational mission statement..............................................................................................4 Description of current situation..................................................................................................5 Opportunity statement................................................................................................................6 Critical assumptions and constraints..........................................................................................7 Analysis of options and recommendations................................................................................8 Financial Analysis......................................................................................................................9 Return on investment.............................................................................................................9 Payback figures....................................................................................................................10 Project preliminary scope.........................................................................................................10 Budget estimate........................................................................................................................11 Cost model and baseline.......................................................................................................13 Schedule estimate.....................................................................................................................14 List of potential risks................................................................................................................14 Conclusion................................................................................................................................14 Reference..................................................................................................................................16
2 CHANGE IN E-MARKETING STRATEGY Introduction The notable determination of this report is to focus on analysing and evaluation of the e-marketing strategy of Port Fairy Caravan and Camping Park Pty Ltd. Thee-marketingstrategyofcommercialestablishmentsgenerallyincludesthe personal branding procedure, content marketing procedures, SEO optimization, conversion optimisation, email marketing and the different types of social media marketing. The organizational value associated with the e-marketing strategy shall be evaluated in this report. This report should be focussing on a project which will aim to identify whether the existing e-marketing strategy is useful in this organization (Frost & Strauss, 2016). This project shall be focusing on the feasibility, cost and identification of the different types of risks associated with this project.Schedule estimation of this project shall be illustrated using a WBS (Habibi et al., 2015). The alternative solutions of the identified risks shall also be discussed in this report. Significance of the leaderships skills required in these kinds of projects shall also be introduced in this report. This report shall be presented as an employee of South West Advertising Inc, the priority of this project shall be very much higher as compared with the other projects which are undergoing in this advertising organization (Hayes, 2018). The entire booking facilities of Port Fairy Caravan and Camping Park along with the current e-marketing channels of this organization shall be taken under consideration to analyse or review the existing e-marketing strategy.
3 CHANGE IN E-MARKETING STRATEGY Project background The needs and expectation of the consumers of the camping parks keeps on changing every moment which is the prime reason behind analysing and evaluation of the e-marketing strategy. The budget which is allocated for this projects is $145,000 and it has to be completed within 3years (Huang & Chen, 2018). The diverse categories of e-marketing channels of this firm shall be evaluated in this project. The budget contingency reserve of this project is approximately 10%. Having the experience to work in medium sized enterprises using virtual teams this report shall be very much useful as it will state how a high priority project needs to be conducted (Iddris & Ibrahim, 2015). This project shall be different categories of stakeholders involved such as stakeholders of the e-marketing channels. Dorothy Boyd is the main IT liaison and Avery Bishop is the liaison of Port Fairy Caravan and Camping Park. This project shall be considered as a successful project if it is completed on the estimated time, scope and significance of communication among each of the stakeholders. There are diverse categories of risks associated with this project which shall be discussed in this report as there is an urgent need of reporting the processes of this assignment. The following unit of this report shall be describing the current situation of this project. Organizational mission statement The evaluation of the current e-marketing procedure can be very much useful in this organization as it would successfully contribute to complete the organizational objective
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4 CHANGE IN E-MARKETING STRATEGY which is to provide better services to each of the vacationers especially during the festive seasons (Katsonis, Sfakianakis & Myloni, 2019). The leadership skills of the project manager such as the decision making anility and management of the available resources are the very much required in this project. Description of current situation There are diverse categories of e-marketing channels which get themselves attached with this organization. There are numerous accommodations associated with the cabins offered in these park. The current e-promotion of this form includes a community based website, community notice boards, online new letters, mobile apple and a wide range of social media platforms (Ivanauskiene et al., 2015). The cost of each of these advertising schemes is a huge concern for the primary stakeholders of this organization. This is having a direct impact on the economic growth of this organization, which is one of the main reasons behind the conduction of this project. Huge amount of money is also required to pay to Google for the promotional purposes also which has to be restricted in the first place in order to maintain the organizational growth of this park. The estimated budget of this project is $145,000 at a discount rate of 9%. The expected return on investment of this project is expected to be 25%. The evaluation of the marketing channels shall be done using the services offered in this business such as changes in bulk bookings, assessment with the competitors, ROI and a set of endorsements (Shaltoni, 2016). The evaluation of e-marketing strategy shall also involve the management of the bulk bookings of the parks as well as the management off the financial records.
5 CHANGE IN E-MARKETING STRATEGY SWOT Analysis StrengthThe prime strength of this project can be the enhanced ability of the parks to deal with the expectations of the consumers during the festive seasons. WeaknessThere are many distant stakeholders associated with this project such as Dorothy Boyd who is the main internal IT liaison, data from these stakeholders regarding the change might not be accessed easily. OpportunityBusiness growth of these park can be maintained using this project as well. ThreatThreats like limited budget and time are the biggest threats of this project. Opportunity statement Based on the current situation it can be said that there are diverse categories of issues associated with each of the e-marketing channels in terms of the changes in bookings, comparison with the market competitors of this commercial establishment (West, Ford & Ibrahim, 2015). This issue can be a huge concern for this organization as it usually experienceshugenumberofclientsespeciallyduringthefestiveseasons.The accommodation issues of these parks has to be resolved in order to accommodate each of the visitors of these parks (Mandal & Joshi, 2017). The availability of the each of the features like kitchenette, lounge, and shower room can be very much useful to deal with the expectation of the consumers of these parks. This issues can have a huge impact on the growth and productivity of these business parks. Change in terms of the e-marketing strategy can be very much useful for the park as it can help to deal with the increasing overhead cost associated with this firm (Odiko et al.,
6 CHANGE IN E-MARKETING STRATEGY 2018). The risks of reputational loss can be also be successfully avoided using the updated e- marketing strategy. Critical assumptions and constraints There are diverse categories of critical assumptions which must be taken under considerations while evaluating the current e-marketing strategy which are being adopted by this organization. The incorporation of a responsive user friendly mobile based application can allow the consumers to lodge complaints coming from the consumers of this parks. 24 hours service must be available for each of the stakeholders of this organization as well as the people who wants to book their rooms of preferred choices (Sharif & Butt, 2017). Blogging facilities can be very much useful in this project as it can help to determine the characteristic feature of each of the project team members involved in this project. There are two categories of constraints associated with this project such as the business constraints and the technical constraints. The business constraint of this project includes the limited budget of this project along with the limited time of this project (Pogorelova et al., 2016). Resource management is one of the prime constraints associated with this project as the evaluation procedure of this project is very much depended on human resources like the two e-marketing specialists, customer survey specialist, status reporting team and camping specialist consultant. Review coming from the vacationers shall be very much significant in this project as they should not be forces to make any sort of biased while answering the survey questions (Roumieh et al., 2018). The review should be very much reliable and it is possible if the security of the data is maintained after the data are collected from the vacationers.
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7 CHANGE IN E-MARKETING STRATEGY Examination of the customer profiles must not have any impact on the life of the vacationers, this is one of the most significant constraints associated with this project (Chong, Man & Kim, 2018). Selection of the messaging strategies can also be one of the source of concern in this project and it also falls under the category of the project constraints. Analysis of options and recommendations The data collection from the vacationers must be kept in the cloud servers so that the reliability of the data is maintained and it can be used to revise the existing e-marketing strategy which is adopted in this parks (Skudiene, Auruskeviciene & Sukeviciute (2015). Building of the user persona as well as the buyer persona can have a huge impact in this parks as these personas shall allow the vacationers to understand the simplicity of bulk booking options in these parks. The existing digital assets of these perks can be replaced with animated illustrations which might be very much useful to attract the more vacationers in these parks. These illustrated animations can also be very much essential to resolve the identified risks of this parks (Chong, Bian & Zhang, 2016). Presentation of each of the process required in bulk booking procedure can be very much useful for the consumers of these parks. The patents and the trade secrets of this business can be enhanced using these advanced e-marketing strategies. Therecommendationsof this project are listed as followings: 1.The selection of the messaging service must be enhanced in such a way so that it is also responsible for the improving the engagement between the customer and the internal stakeholders of this business. 2.Identification of the target audience is one of the most significant success criteria of this project.
8 CHANGE IN E-MARKETING STRATEGY 3.Content of the existing e-marketing strategies can be replaced with updated contents. 4.The different ways to reach the potential customers must be identified from the new e- marketing strategies as well. 5.Experienced and qualified stakeholders of this business must be involved to review the existing e-marketing strategies. Financial Analysis This unit of this report shall be discussing the NPV of this project. The initial phase of this project is subjected to be completed within $90000 and a discount of 9% is allowed on the NPV. Thus, based on the three year calculation it can be said that the NPV of this project is 122,074.92. The following diagram can be very much significant to understand the total NPV of this project. Figure 1: NPV of this project (Source: Created by the author)
9 CHANGE IN E-MARKETING STRATEGY Return on investment It is one of the most significant Key Performance Indicators in this project as it helps to determine the profit of the investment which is made by the steering committee of this project (Chiang, 2018). Considering the 5% ROI in this project it can be said that the ROI of this project is 0.27. Figure 2: ROI of this project (Source: Created by the author) Paybackfigures Considering the amount which is spent in the initial phase of this project which is $90000 it can be said that the payback period of this project is 1.64 years. Figure 3: Payback of this project (Source: Created by the author) Project preliminary scope The preliminary scope of this project is the analysis and evaluation of the existing e- marketing, the initial financial resources which was allocated in this project is$9000.
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10 CHANGE IN E-MARKETING STRATEGY However, it can be said that this this resource might not be enough to complete this project within the scheduled time (Cameron & Green, 2015). The preliminary project requirements involves human resources like E-marketing specialists and customer survey specialists. The other essential scope of this project is the identification of the new markets for this organization using the revised e-marketing strategy. Feedback coming from the vacationers must be considered while reviewing the existing e-marketing plan (Taiminen & Karjaluoto, 2015). The introductory scope of this project also included that each of the stakeholders of this business must be enhanced as an outcome of this project. Budget estimate The budget which was allocated for each of the resources in this project can be understood using the below pictorial diagram which was created using MS project.
11 CHANGE IN E-MARKETING STRATEGY IDOutline Number Task Mode Task NameDurationStartFinishPredecessorsResource Names Cost 00Evaluation of existing e-marketting strategy 70 daysMon 02-09-19 Fri 06-12-19$88,436.00 11Phase 1: Evaluate digital marketting 14 daysMon 02-09-19Thu 19-09-19$21,680.00 21.1Evaluate digital marketting goals 2 daysMon 02-09-19Tue 03-09-19E-marketting specialist 1 $2,400.00 31.2Reexamine customer profile 3 daysWed 04-09-19Fri 06-09-19$9,920.00 41.2.1Analyse customer profile 2 daysWed 04-09-19Thu 05-09-192Customer Survey specialist $7,360.00 51.2.2Document customer profile 1 dayFri 06-09-19Fri 06-09-194E-marketting specialist 2,E-marketting $2,560.00 61.3Looking at digital presence 5 daysMon 09-09-19Fri 13-09-195E-marketting specialist 2 $6,800.00 71.4Identify the success criteria of this organization. 3 daysMon 16-09-19Wed 18-09-196Status reporting team $1,920.00 81.5Holding meetings1 dayThu 19-09-19Thu 19-09-197Status reporting team$640.00 92Phase 2: Examine Customer profiles 14 daysFri 20-09-19Wed 09-10-19$30,240.00 102.1Review of the profiles4 daysFri 20-09-19Wed 25-09-198Customer Survey specialist ,E-marketting specialist 1,E-marketting specialist 2$14,720.00 112.2Identify the issues in e-marketting strategy 7 daysThu 26-09-19Fri 04-10-1910Customer Survey specialist $7,840.00 122.3Analysis of the profiles2 daysMon 07-10-19Tue 08-10-1911E-marketting specialist 1,E-marketting specialist 2$5,120.00 132.4Holding meetings1 dayWed 09-10-19Wed 09-10-1912E-marketting specialist 2,E-marketting specialist 1$2,560.00 143Phase 3: Review Digital presence 14 daysThu 10-10-19Tue 29-10-19$9,128.00 153.1Identify the social media platforms 7 daysThu 10-10-19Fri 18-10-1913Camping specialist consultant $4,648.00 163.2Identify the cost mitigation procedure of the social media platforms 6 daysMon 21-10-19Mon 28-10-1915Status reporting team $3,840.00 173.3Holding meetings1 dayTue 29-10-19Tue 29-10-1916Status reporting team$640.00 184Phase 4: Evaluate messaging strategies 14 daysWed 30-10-19Mon 18-11-19$9,844.00 194.1Identify the gap in messaging strategies 9 daysWed 30-10-19Mon 11-11-1917Camping specialist consultant $5,976.00 204.2Evaluating task4.5 daysTue 12-11-19Mon 18-11-1919Camping specialist consultant$2,988.00 214.3Holding meetings0.5 daysMon 18-11-19Mon 18-11-1920Customer Survey specialist ,Status reporting team$880.00 225Phase 5: Review marketting ROI 14 daysTue 19-11-19Fri 06-12-19$17,544.00 235.1Identify the future implications 8 daysTue 19-11-19Thu 28-11-1921E-marketting specialist 2 $10,880.00 245.2Review the ROI5 daysFri 29-11-19Thu 05-12-1923E-marketting specialist 1$6,000.00 255.3Completion of project status report 1 dayFri 06-12-19Fri 06-12-1924Camping specialist consultant $664.00 E-marketting specialist 1 Customer Survey specialist ,E-marketting specialist 1,E-marketting specialist 2 E-marketting specialist 2,E-marketting specialist 1 E-marketting specialist 2 Status reporting team Status reporting team Customer Survey specialist ,E-marketting specialist 1,E-marketting specialist 2 Customer Survey specialist E-marketting specialist 1,E-marketting specialist 2 E-marketting specialist 2,E-marketting specialist 1 Camping specialist consultant Status reporting team Status reporting team Camping specialist consultant Camping specialist consultant Customer Survey specialist ,Status reporting team E-marketting specialist 2 E-marketting specialist 1 Camping specialist consultant SSMTWTFSSMTWTFS 21 Jul '1925 Aug '1929 Sep '1903 Nov '1908 Dec '1912 Jan '2016 Feb '20 Figure 4: Scheduling of the project (Source: Created by author)
12 CHANGE IN E-MARKETING STRATEGY Cost model and baseline Figure 5: Baseline-Cost of this project (Source: Created by author) Figure 6: Cost overruns of this project (Source: Created by author)
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13 CHANGE IN E-MARKETING STRATEGY Schedule estimate The level 3 WBS diagram will be representing the scheduling of this project in a detailed manner. Figure 7: Estimate scheduling (Source: Created by author) List of potential risks Thepotential risks associated with this project are listed as followings: ï‚·Selection of poor quality resources in this project. ï‚·Ineffective change management plan ï‚·Lack of acceptance of the new e-marketing strategy. ï‚·Resistance to change. Conclusion This report helps in concluding the background of this project as the project has to be completed with a period of 3 years and the total budget of this project is $$145,000. The current situation of this project can also be concluded from this report as the initial phases has to be completed within $90000 with a discount rate of 9%. The external environment of this
14 CHANGE IN E-MARKETING STRATEGY project can be understood from the SWOT analysis table in terms of the ability of deal with theexpectationoftheconsumerswhichistheprimestrengthofthisproject.The communication issues between the distant stakeholders are the prime weakness of this project as well. Whereas, the business growth and the limited budget are the prime opportunity and threat associated from this project. This report also identifies the critical assumptions in terms of the usefulness of a user friendly mobile application and constraints associated with the project in terms of the business and technical constraints. This report also recommends that buyer persona can a better e-marketing strategy as compared with the existing strategies. The NPV of this project is 122,074.92 whereas the ROI of this project is 0.27. The payback figure which was identified from this report is 1.64 years. The report successfully illustrated the cost model and baseline and a list of potential risks like ineffective change management plan and lack of acceptance of a revised e-marketing strategy.
15 CHANGE IN E-MARKETING STRATEGY Reference Cameron, E., & Green, M. (2015). Making sense of change management: A complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers. Chiang, W. Y. (2018). Applying data mining for online CRM marketing strategy: An empirical case of coffee shop industry in Taiwan.British Food Journal,120(3), 665- 675. Chong, W. K., Bian, D., & Zhang, N. (2016). E-marketing services and e-marketing performance: the roles of innovation, knowledge complexity and environmental turbulence in influencing the relationship.Journal of Marketing Management,32(1- 2), 149-178. Chong, W. K., Man, K. L., & Kim, M. (2018). The impact of e-marketing orientation on performance in Asian SMEs: a B2B perspective.Enterprise Information Systems, 12(1), 4-18. Frost, R. D., & Strauss, J. (2016).E-marketing. Routledge. Habibi, F., Hamilton, C. A., Valos, M. J., & Callaghan, M. (2015). E-marketing orientation and social media implementation in B2B marketing.European Business Review, 27(6), 638-655. Hayes, J. (2018). The theory and practice of change management. Palgrave. Huang, H. L., & Chen, Y. Y. (2018, June). Toward an Understanding of the Antecedents of E-Marketing Orientation: The Role of the Fit. InAcademy of Marketing Science World Marketing Congress(pp. 639-650). Springer, Cham.
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16 CHANGE IN E-MARKETING STRATEGY Iddris, F., & Ibrahim, M. (2015). Examining the relationships between e-Marketing adoption and Marketing Performance of Small and Medium Enterprises in Ghana.Journal of Marketing and Consumer Research,10, 160-169. Ivanauskiene,N.,Auruskeviciene,V.,Ramoniene,L.,&Skudiene,V.(2015).The relationship among e-marketing strategy and success of internationalization process of the SMEs in emerging economies.European Journal of Business and Economics, 10(2). Katsonis, N., Sfakianakis, M., & Myloni, B. (2019). E-marketing and BPA coordination on business strategy.International Journal of Internet Marketing and Advertising,13(2), 155-169. Mandal, P., & Joshi, N. (2017). Understanding Digital Marketing Strategy.International Journal of Scientific Research and Management,5(6). Odiko, S. Y., Ogutu, M., Yabs, J., & Omar, M. (2018). International Marketing Strategy, Information Communication Technology and Performance of Tour Firms in Kenya. Journal of Information and Technology,2(1), 39-64. Pogorelova, E., Yakhneeva, I., Agafonova, A., & Prokubovskaya, A. (2016). Marketing Mix for E-commerce.International journal of environmental & science education,11(14), 6744-6759. Roumieh, A., Garg, L., Gupta, V., & Singh, G. (2018). E-Marketing Strategies for Islamic Banking: A Case Based Study.Journal of Global Information Management (JGIM), 26(4), 67-91.
17 CHANGE IN E-MARKETING STRATEGY Shaltoni, A. M. (2016). E-marketing education in transition: An analysis of international courses and programs.The International Journal of Management Education,14(2), 212-218. Sharif, A., & Butt, H. (2017). Online Businesses and Influence of E-Marketing on Customer Satisfaction.J. Hum. Ins,1(2), 89-93. Skudiene, V., Auruskeviciene, V., & Sukeviciute, L. (2015). Internationalization model revisited: e-marketing approach.Procedia-Social and Behavioral Sciences,213, 918- 924. Taiminen, H. M., & Karjaluoto, H. (2015). The usage of digital marketing channels in SMEs. Journal of Small Business and Enterprise Development,22(4), 633-651. West, D. C., Ford, J., & Ibrahim, E. (2015).Strategic marketing: creating competitive advantage. Oxford University Press, USA.