The change of marketing strategy for Happy Campers Australia (HCA) would be beneficial for the growth and productivity. The company has various kind of potential clients who are highly interested in making use of new facilities that would be provided by HCA.
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Running head:CHANGING THE MARKETING STRATEGY Changing the marketing strategy Name of the Student Name of the University Author note
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2CHANGING THE MARKETING STRATEGY 1. Project Background 1.1 Project background The change of marketing strategy for Happy Campers Australia (HCA) would be beneficial for the growth and productivity. The company has various kind of potential clients who are highly interested in making use of new facilities that would be provided by HCA. However, there are various kind of similar organizations who are employing the use of similar techniques that would help them in gaining a broad foothold over the market. HCA is mainly focused for the manufacturing of caravans that would be used by travel lovers in making their trip. Hence the company needs to address each of the issues that would be generated based on the development of new kind of ideas for the development of new marketing strategies. With expand of the brand in the Australian market, they have a certain concern over their potential for bringing in innovation within their products. The company has also faced some issues based on marketing, operational and structure of the company. However, there are many customers in the region of Western Australia and there is a wide density of customers over which the company could concentrate. In the present times, the company also wishes to increase their operational capacity in order to reach out to a wide number of customers. However there are certain constraints in relation to the financial aspects of the project. External funding would be highly required for the company in order to focus over the change of marketing strategy for the company. The future of the company would mainly depend over the present defining of a rigid and flexible marketing strategy for the company. Hence, it can be discussed the marketing strategy of the company should be changed in order to help the company to reach out to a broad number of customers and thus enhance the productivity of the business.
3CHANGING THE MARKETING STRATEGY Based on the consideration over the present conditions of the market, it can be discussed that many similar organizations are in the process of bringing in enhancement of their practices within the business while outsourcing different critical elements. The development and change of the present marketing strategy could be considered as an important beneficial factor for HCA. The change of marketing strategy could also be described as to be important as it would lead to change of strategic management for the project. It would also ensure that there is a high rate of success in terms of growth of the company. 1.2 Project goal The goal for the project that would be delivered to the company could be presented according to the SMART acronym. Specific– With the change of the marketing strategy, HCA would look into the various needs of the customer and thus think about the specific ways in which the change of marketing strategy would attract the customer. The company should be able to look into the specific forms of target market in which they could make a big impact. The marketing team along with the business analysts would decide over the best forms of marketing solutions that would help in attracting the customers in making use of their services. Measurable– The role of a new marketing strategy would be important for the growth of the company. These marketing strategies would help the company in understanding the needs of the customers and thus measure the rate of progress of their company within the next few years. Achievable– Each of the resources that would be included within the project should ensure that it would be achievable and be in an organized manner. HCA should also ensure that the customers would be able to get attracted towards the company with the help of new forms of
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4CHANGING THE MARKETING STRATEGY marketing strategies. There should also be an efficiency of services based on improving the experiences of customers. Relevant– With the change of the marketing strategy for HCA, it should also be kept under consideration, that each of the goals set for the company should be in relevance with the strategies and needs for the business. There should be a proper form of implementation of the new marketing strategy that would help in addressing each of the major needs of the customers. It can also be said that the business environment would be changing rapidly in order to ensure that there would be maximum number of gains for the company. Time-bound– The incorporation of new kind of marketing strategy should be highly bounded within a certain period of time. The owners of HCA should also ensure that the project based on the implementation of new marketing strategy would be helpful for the growth factor of the organisation. The plans for implementation of the new strategy should also be set within a certain time period. This is mainly due to the reason because after a certain point of time, the company would require to gather maximum benefits and returns based on the made investment. 1.3 Project objective The primary objective of the company is to understand the needs of customers and the issues faced at HCA with the implementation of their operational strategy. Each of the current systems would need to redesigned, which would help in bringing stability to the business sector. 1.4 Project deliverable The deliverables that would be based on the implementation of the new form of marketing strategy for HCA are: 1. Changing the customer preferences and meeting up to their raised expectations.
5CHANGING THE MARKETING STRATEGY 2. A proper documentation of their changed market plan. 3. Consultancy plan for the change management program. 4. Innovation plan of the new caravans 5. New marketing plan that would be developed. 1.5 Strategic alignment of project There is a high need for the understanding and anticipating of the future customers and their growing expectations from HCA. Thus the company would also have to look forward towards bringing in innovation and changes in their various marketing strategies. The most vital significance to bring in innovation within the sector is to put on the senior marketing executives who would be responsible for deciding out proper plans based on manufacturing new products and services. These kind of services should be highly innovative and thus provide better facilities to the customers. Each of the innovative strategies that would be implemented for the business should be aligned with the business model of HCA and thus should provide business strength. 2. Project Schedule 2.1 Milestones The milestones that are defined with the development of new form of marketing strategy are: 1. Completion of the Project Initiation and Planning 2. Completion of Documentation of Entire Project plan 3. Completion of Implementation Plan 4. Making of Payments
6CHANGING THE MARKETING STRATEGY 5. End of Project 2.2 Project Requirements The different forms of project requirements that would be helpful for the implementation of the marketing plan are defined as follows: 1.Performing of a Situational Analysis– A proper form of SWOT analysis over HCA might be helpful for understanding the strengths, weaknesses, opportunities and emerging threats. With the help of this kind of method, the company would be able to identify their competitors, understand the ways of operation and also become familiar with the strengths and weaknesses of the company. 2.Development of a Target market Profile– The Company should also develop strategies based on knowing the preferences of the customers and the ways in which they would wish to afford the services offered by the company. There should also be a proper form of demand based on a certain product that might be offered by HCA. A further research would also need to be made based on the estimated demand for services or products. The rate of demand should also be taken into consideration. This would help in building of confidence within the various segments of the company and thus they would have an urge to bring in new customer satisfaction strategies. 3.Setting of clear marketing objectives– The total share of the company within the international markets should be estimated. The total number of the customer who make use of the services offered by the company should be estimated and calculated. The retention rate of the customers would be based on the innovation of strategies that would be defined by the executives of the marketing team. The major proportion of the potential market should also be
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7CHANGING THE MARKETING STRATEGY taken into consideration. The amount of purchases that are made by the customers would be helpful for the company to decide on the best kind of marketing strategies that would be defined within the company. 4.Development of a financial plan– HCA should firstly determine the service that would be provided by them to the customers. This kind of consideration would be based on the need of the customers. Based on deciding over the design of caravans that would suit the customers, the financial plan for the business would need to be planned and developed. The expenses of operation and manufacturing should also be taken into consideration. Based on the manufacturing of the new set of caravans, the company would be able to determine strategies basedonmarketingtheirservicestothecustomers.Thiswouldhelpthecompanyin understanding the needs of customers and thus plan over the next steps of developing innovative ideas. 2.3 Limits and Exclusions There are several kind of limitations and exclusions that might be a part of the project. Based on implementing a new form of marketing strategy for the business, the company should be ableto considerthe limitsand exclusionsthatmightbeassociatedwith the project development strategies are: 1. The marketing platforms would not be discussed within the context of the marketing strategy. 2. The project based on the development of the marketing strategy would be limited basedonthenumberofvendorswhowouldbemarketingtheproductthatmightbe manufactured.
8CHANGING THE MARKETING STRATEGY 3. The project would not include the entire financial plan within defining of the marketing strategy. These kind of matters are highly confidential in nature and hence would not be disclosed.
9CHANGING THE MARKETING STRATEGY 2.4 Work/process Breakdown Schedule Changing the marketing strategy Start ProjectProject Initiation and Planning Performing a requirement analysis Development of a feedback form Analysing the current market Understanding gaps and focusing on new marketing ideas Completion of the phase Documentation of the entire plan Conducting a meeting with marketing team Choosing best business strategic team Documentation of the entire plan Completion of the documentation phase Implementing the plan Hiring a core marketing team Applying the chosen strategies within business Implementing the marketing ideas Completion of the implementation phase Project Completion Phase Documentation of the overall plan Making of payments Project Sign-off phase End Project (Figure 1: The Work Breakdown Structure for the Project) (Source: Created by author) 3. Risk Management There are various kind of risks that are in relation to the development of the project. Happy Campers Australia would thus have to determine the best kind of possible methods based on identifying and mitigating the risks. This would highly help the company in bringing in efficiency of the business processes and thus improving the productivity of the organisation. Some of the important steps based on the mitigation of risks for the development of the marketing strategy are defined as follows: Identifying the risk scenarios– During the development of the marketing strategy for the company, the marketing executives and business specialists should be able to determine the various risks that might approach during the development phase. The marketing department should handle each of the aspects of the planning phase and thus ensure no confidential matters would be leaked to competitors.
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10CHANGING THE MARKETING STRATEGY Prioritization and classification of risks– Each of the risks that would be incurred for the project, should be prioritized by the risk manager and the other teams involved within the project. They should also prioritize the most critical aspects of the risks on a scale of 1 to 10. This would help the other teams to understand the critical nature of the risks and thus ensure that such kind of situations would not arise that might lead to affect towards the project. Communicate and mitigate risks– Every kind of risk management strategy could be initiated with the help of proper planning and communication methods. A proper form of communication strategy would also be highly essential for the various team members to communicate with various forms of ideas that would be helpful in mitigating of such kind of issues. 4. Project Budget Project Initiation and Planning4800 Documentation of the entire plan2080 Implementing the plan720 Project Completion Phase2240 Total Cost for the project9840 Total Cost for the project (Figure 2: The Total Budget for the Project) (Source: Created by author)
11CHANGING THE MARKETING STRATEGY Year of Project year 0year1year 2year 3year 4year 5TOTALS Net economic benefit$0.00$4,000.00$4,000.00$4,000.00$4,000.00$4,000.00 Discount Rate 8%10.92590.85730.79380.73500.6806 PV Of Benefits$0.00$3,703.70$3,429.36$3,175.33$2,940.12$2,722.33 NPV of all BENEFITS$0.00$3,703.70$7,133.06$10,308.39$13,248.51$15,970.84$50,364.50 One Time Costs$6,880.00 Recurring Costs$0.00$100.00$100.00$100.00$100.00$100.00 Discount Rate 8%1.00000.92590.85730.79380.73500.6806 PV Of Recurring Costs$0.00$92.59$85.73$79.38$73.50$68.06 NPV Of All Costs$6,880.00$6,972.59$7,058.33$7,137.71$7,211.21$7,279.27$42,539.11 Overall NPV$7,825.39 Overall ROI =(Overall NPV / NPVOf All Costs0.18 Break-Even Analysis Yearly NPV Cash Flow$0.00$3,611.11$3,343.62$3,095.95$2,866.62$2,654.27 Overall NPV Cash Flow$6,880.00($3,268.89)$74.73$3,170.68$6,037.29$8,691.57 Project break-even occurs between years 2 and 3 Use 1st year of positive cash flow to calculate break-even fraction2.0241years (Figure 3: The Payback Period for the Project) (Source: Created by author) 5. Communication management plan Development of New Marketing Strategy for Happy Campers Australia
12CHANGING THE MARKETING STRATEGY Version Control VersionDateAuthorDescription 1Fri 10-05-19Project ManagerThey would be responsible for performing a high level of communication with every team memberconcernedwiththeproject.They would also understand the conditions of the market and thus would depend on strategies that could prove to be effective. 2Fri 24-05-19Project Sponsor They would understand the financial needs of the market and thus would also think of new plansuponwhichtheywouldbringin innovation for the sector. 3 Mon22-07- 19Marketing Executive The marketing executive would perform an initial research over the present market and thuswouldbringinnewideasforthe development of such kind of business related activity. 4 Mon22-07- 19Business Analyst They would also perform analysis over the ideas of the marketing team and also present their own ideas. Based on this, the new plan would be finalised by the business analyst and thus the project would initiate. Purpose of Communication Strategy A rich communication strategy would be helpful for the management of internal and external stakeholders. Based on the development of a new form of marketing strategy, the organization would need to adapt to such kind of changes for the business. External stakeholders– The external stakeholders involved within the project could be the financial sponsors who would provide loans to HCA for the manufacturing of new caravans.
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13CHANGING THE MARKETING STRATEGY Internal stakeholders– Understanding the choices of customers and meeting their demands could also be considered as the most important criteria for the internal stakeholders. They would thus understand the factors based on which they could improve their services and thus provide high quality of products to the customers. Disseminate information and engage Happy Campers Australia community Each of the internal as well as the external stakeholders should be aware about the various forms of changes that could be helpful in bringing an impact for the organisation. Disseminate information and engage support from Happy Campers Australia senior executive A proper level of support that could be extended from the marketing executive or business analysts would be highly helpful for HCA to determine the ways in which the project would be affected. The business conditions should also be critically analysed and then the management team should be able to decide over the best form of measures that need to be implemented for the company. Communication Plan Internal Information Management Plan MediumActivityResponsibilityFrequencyComment MS Project Software Schedulingof marketing activities Providingthe high quality of inputsforthe team Daily basisThedifferentformsof shared perspectives could be shared between the business ownersandtheother stakeholdersinvolvedwith theprojectmanagement teamandthemarketing team.
14CHANGING THE MARKETING STRATEGY External Communications Plan MediumActivityResponsibilityFrequencyComment Emailand Weekly Progress reports Data, documentation ,screenshot images Eachofthe stakeholders such as the project manager, marketing team and businessanalysts would be responsible forformulationof ideas that would be helpfulforproject development phases. Daily basisThemarketingteam should be able to play a highroleinthe communication of ideas withtheproject managementteamand thus help in quick form of judging of ideas. Engage Happy Campers Australia in a conversation Each of the customer who would be involved within the company should be highly ware of the marketed products that are sold by the company. This would be highly possible with the help of a proper form of marketing strategy that needs to be put in proper order. 6. Recommendations Based on the discussed scenario at Happy Campers Australia, it could be understood that the marketing strategy would have to highly strong for the company to help them in bringing a major impact for the growth factor of the business. Changing form of market scenario would be considered as a critical factor for the organisation. This highly leads to challenges towards the growth of the company. Based on the discussed scenario, the company is facing some kind of challenges based on their operational strategies. They are thus responsible for bringing in new strategies that would be helpful for the development of their current business mechanisms. The
15CHANGING THE MARKETING STRATEGY company would highly need to focus over the present industry, market trends, sales cycle, target buyers and many other specific needs of the company. The company is thus planning for bringing changes to a new form of marketing strategy that would be highly helpful for the business. Some of the basic recommendations based on bringing changes for the growth and reach of the company in the Western Australian market include: They should build a detailed strategy based on their achieving of the business goals. The company should also keep a monitor over the results that might affect their business. Hence, a regular review could be considered as an excellent opportunity for the company. HCA should also determine the ways in which they could perform a review over their business goals. Thus they should also define new form of marketing tactics and thus also ensure that the outcome of such efforts would help the business to be kept on tracks and thus ensure that it would be able to compete with the other competitors present in the market. HCA should also define factors based on careful planning of the marketing strategy. In order to bring themselves on track with the highly competitive market, there should also be a proper coordination of the team members and the business owners. This would ensure that each of the marketing strategy that would be implemented within the company would be able to meet with the success criteria. Hence, with the help of the following recommendations, it could be concluded that HCA would be able to retain their marketing position and thus arise as a game changer in the market. With the development of such kind of methods based on the adoption of such kind of trends in the marketing platform, it would be highly helpful for Happy Campers Australia to bring in new products these would highly attract the customers and help in improving the productivity of the company. Thus from the above discussion, it can be concluded
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16CHANGING THE MARKETING STRATEGY that the company should implement the best form of marketing strategy and thus improve their business conditions and reach to customers.
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19CHANGING THE MARKETING STRATEGY Sull, D., Homkes, R. and Sull, C., 2015. Why strategy execution unravels—and what to do about it.Harvard Business Review,93(3), pp.57-66. Teece, D., Peteraf, M. and Leih, S., 2016. Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy.California Management Review,58(4), pp.13-35. Thompson, A., Strickland, A.J. and Gamble, J., 2015.Crafting and executing strategy: Concepts and readings. McGraw-Hill Education. Wilden, R. and Gudergan, S.P., 2015. The impact of dynamic capabilities on operational marketing and technological capabilities: investigating the role of environmental turbulence. Journal of the Academy of Marketing Science,43(2), pp.181-199.