Marketing Objectives and Risk Management Plan

This assignment provides a comprehensive guide to marketing objectives and risk management plans in small businesses. It discusses the importance of capturing marketing opportunities, developing a risk management plan, and ensuring that marketing objectives are aligned with the mission of the firm. The report includes a case study on Adventure Caravan, highlighting their prime marketing objectives and how they can be achieved effectively.

Develop Organisational
Marketing Objectives

Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
A. Organisation’s mission, vision, purpose and values..............................................................3
B. Strategic organisational documents to identify organisational directions and targets............3
C. Situational analysis identifying factors impacting the direction and performance................4
D. Legal and ethical requirements for the organisation..............................................................4
E. Strategic direction of the organisation....................................................................................5
SECTION 2......................................................................................................................................5
A. Evaluate the effectiveness of previous marketing and positioning strategies........................5
B. SWOT analysis.......................................................................................................................5
C. Evaluate previous marketing opportunities captured by the organisation..............................6
D. Evaluate the marketing performance against previous objectives.........................................6
SECTION 3......................................................................................................................................7
A. Identify and analyse marketing opportunities........................................................................7
B. An assessment of external factors..........................................................................................7
C. Analyse opportunities for likely fit with the goals and objectives of the organisation..........8
D. Impact of e-marketing on current business and customer base..............................................8
SECTION 4......................................................................................................................................8
A. Develop objectives in consultation with key internal stakeholders.......................................8
B. Ensure objectives are consistent with forecast needs of the business and market.................9
C. Compatibility of objectives with the organisation’s projected capabilities, resources and
financial position.........................................................................................................................9
D. Ensure objectives are compatible with the organisation’s direction and purpose................10
E. Formulate long-term strategic objectives and related key performance indicators..............11
F. Develop a risk management strategy to identify risks and manage contingencies...............11
G. Document marketing objectives...........................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Marketing refers to the promotion or advertisement of products, services or organisation
in order to raise the performance, profitability and productivity. Marketing plays a major role in
making the reach to a large number of potential customers who can buy the product or services
of a firm. The taken firm in this assignment essay is Adventure Caravans which is a family
owned business in Melbourne. The firm is operating from last 30 years and recognised as the
number one manufacturer and supplier of quality recreation and commercial caravan and
campers in Australia. This report will also discuss the situational analysis along with the legal
and ethical requirements. This report will analyse the SWOT Analysis, PEST Analysis, Cost
Benefit Analysis, ROI – return on market investment, Industry Forecasts etc. In the end, a risk
management strategy will be developed to identify risks and manage contingent situations.
SECTION 1
A. Organisation’s mission, vision, purpose and values
Adventure Caravans is a commercial caravan and campers manufacturer in Australia
which has their own values, mission, vision and purpose. These are discussed below:
Mission: To manufacturer quality family caravans in order to fulfil the needs of the target
market. Everlasting family adventures and memories is the priority of the firm.
Vision: To get the recognition of the best manufacturer and supplier of quality recreation
and commercial caravan and campers in Australia country.
Values: To become a responsible employer who can provides a safe and healthy working
to the employees for enhancing their capability and skills. The management of the firm is
conducting market research in order to keep the consistency and reliability as well in proper
manner.
Purpose: To provide the best quality commercial caravan and campers services to the
customers in order to enhance the profit and revenue of the firm.
B. Strategic organisational documents to identify organisational directions and targets
It has been analysed from the company's documents that the firm has developed some
goals which must be achieved in a determined time period. The management needs to do proper
analysis of market through qualitative and quantitative methodologies. The firm wants to
increase the market share by 15% which can be achieved by using proper directions and target.

Direction: Adventure caravan are manufacturing their caravans with unique features and
durability which will satisfy the needs of customers. Market share of the firm can be enhanced
by 15% by using the proper promotional activities and by producing quality based products and
services.
Targets: Target of the firms are middle and higher class people who has the strong deed
to travel. The firm can promote their products to such customers so that the market share can be
enhanced along with the sales.
C. Situational analysis identifying factors impacting the direction and performance
There are various factors which can impact the direction and performance of the business
as given below:
Competitors: In Australia, there are over 130 caravan manufacturers and the competition
is high in the caravan manufacturing industry due to which Adventure caravans needs to increase
the use of innovative technique while manufacturing their caravans. The competitors of the
Adventure caravans can impact the business performance of the company (Ansoff, Kipley and
et. al., 2019).
Technology: The ongoing changes in the technology has provided the opportunities to the
Adventure caravans for introducing new caravans models with innovative features (Ashkenas,
Ulrich, Jick and Kerr, 2015). Through these models, company is aiming to enhance the market
share in Australia as well as to enhance the customer satisfaction from the new products.
D. Legal and ethical requirements for the organisation
There are several legal and ethical requirements which must be followed by the
Adventure Caravans as discussed below: Work health and safety act, 2011: It states that the employer or organisations needs to
provide the safety to the employees while they perform their roles and functions at the
workplace (De Bruin and Doebeli, 2015). Workplace Relations Act, 1996: It states that the employees has the right to apply for
relief in case of unfair dismissal, termination unlawfully. Through this act, employees can
apply for compensation if they are terminated without any issue or problem.
 The Australian Association of National Advertisers: The Adventure caravan is a
member of The Australian Association of National Advertisers (AANA) which assisted
the firm in grabbing a good position of marketplace in Australia by following the rules

and codes of it. Also the firm is providing good safety to consumers in Caravans for
maintaining long term relations with them (Fragouli, 2015).
E. Strategic direction of the organisation
Strategic direction is essential and important for owners, directors or senior management
of adventure Caravan by improving market share by 15% and customer base by 10%. Therefore
accurate strategic direction help an organisation to increase their profitability and performance at
marketplace. Accurate strategic direction also impact on marketing activities within an
organisation (Gregory, 2016). Marketing activity in the organisation is based on social media
and product quality which will help a company to enhance customer base and market share
within given time period. For this business owner, senior management and director play vital role
in introducing their quality product over the social media platform. Thus, it is essential and
significant for growth and success of an enterprise.
SECTION 2
A. Evaluate the effectiveness of previous marketing and positioning strategies
Adventure caravan had implemented the updated tools and techniques in the marketing
department in order to enhance profitability of the firm (Keyes, 2016). Also the marketing and
positioning strategies was proved helpful for the firm in increasing the customers base by
providing the quality based features in their caravans. Through the promotional strategies, the
company has sustaining at marketplace for a longer period of time. The sales of the firm also
improved with the help of previous marketing strategy which helped the firm in generating huge
amount as revenue which has helped them in raising its profitability (Marafon, Ensslin and et.
al., 2015). The firm has targeted the middle and upper level people due to which the marketing
department was able to attract these customers in an effective manner.
B. SWOT analysis
Strengths Weakness
 Prices range of services of the firm is
$30,000 to $70,000 which is
comparatively low than the
competitors.
 Lack of brand awareness is a weakness
for the firm as the company can't
provide the products to large number of
customers.

 The quality of the caravans is very
good due to which firm attracts a lot of
customers.
 Also the sales of the firm is around 200
caravans per year which is less than
some of the competitors.
Threats Opportunities
 In Australia there are over 130 caravan
manufacturers which are competing
with the firm.
 The increase of flat pack vans could be
a threat to the company in the long
term.
 In the past 2 years, several caravan
manufacturers have closed due to
which company has opportunities in
Australia.
 The firm can manufacture the flat pack
vans which has the potential to grow
and provides the opportunity to
business also in mid-market.
C. Evaluate previous marketing opportunities captured by the organisation
Over many years, Adventure Caravans has operated at a profit and provided a good
return to its owners due to capturing the marketing opportunities. These marketing opportunities
includes e-marketing, influencer marketing, providing discounts etc. Through the e-marketing,
the firm had increased their customer base by determining the needs of consumers along with the
promotion on internet portals (Orna, 2017). With the help of influencer marketing, company had
provided the opportunity to their employees for promoting the products of company to their
relatives and friends which also helped in increasing the customer base. The company has also
provided the discounts to their valuable and old customers which will enhance their satisfaction
level.
D. Evaluate the marketing performance against previous objectives
The marketing performance of the Adventure caravan is very good in accordance with
the objectives. The market share of the firm has improved with the help of marketing department
as the marketing department promoted the brand at the national level in Australia by using the
social media and their website. Also the marketing department was successful in attracting the
customers towards the products provided by the company which assisted the Adventure caravan

in enhancing the customer base (Parmenter, 2015). Further PEST analysis can be used by the
firm for determining the critical success factors, and areas for improvement
Political: The political conditions of the Australia are stable due to which the firm can
gain growth easily.
Economical: Also the customer in Australia prefers quality which is provided in the
products of the firm.
Social: The company need to determine the needs of consumers which is a weakness for
the firm till now. The firm needs to do the market research for determining these needs of
customers.
Technological: The technology is also old in the manufacturing unit which is also
considered as a weakness.
SECTION 3
A. Identify and analyse marketing opportunities
Marketing opportunities is defined as a sales-accepted lead which can provide
enhancement in the sales figures of any organisation (Salvato and Rerup, 2018). In the context
of Adventure Caravan, their managers have analysed that e-marketing is most profitable tool
which can provide better assistance for gaining opportunities of the market. As management of
organisation is planning for attracting a large number of customers towards services of the
organisation so for this, they can take help from their investors so that a better return can be
provided to them for their investments.
B. An assessment of external factors
As management of organisation have decided to use e-marketing for gaining
opportunities therefore, they have to assess various external factors such as cost, rival's strategies
which can hampered their decisions in negative manner. Management of organisation have to
determine those activities which are unnecessary or unessential and making additions in the cost
of services therefore, they have to make better plans or strategies for removing such activities
from the company (Sengupta, Bamel and Singh, 2015). For this, management can use cost
benefit analysis which will helps them in identifying their strength and weaknesses so that plans
can be formulated accordingly. With the help of this analysis, managers of cited firm can easily
determine that whether their decision will be gain success in future or not.

C. Analyse opportunities for likely fit with the goals and objectives of the organisation.
Management of firm has created various strategies so that better opportunities in the
market can be gained by them. They have also made some effective opportunities like influencer
marketing, discount pricing and e-marketing so that a large number of customers can get
awareness and provide better response towards organisation. From these opportunities, it has
been determined that e-marketing is an effective opportunity through which managers of
organisation can easily forecast demand of their offerings. With the help of this, the cost of
services of firm will also reduce which will be beneficial for further expansion. Therefore, it can
be said that e-marketing is an appropriate opportunity which is beneficial for firm in enhancing
the revenue and customer base.
D. Impact of e-marketing on current business and customer base
Positive impact- It assists the organisation in enhancing their brand awareness through
which they will be able in attracting a large number of customers. It also assist the management
of Adventure Caravans in determining the needs and wants of their targetted customers and also
fulfil their needs accordingly.
Negative impact – Sometime, it provides difficulties in tracking of activities which can
lead to dissatisfaction among the customers of organisation. It can not provide long term benefits
to the organisation which is not beneficial for the growth or sustainability of firm.
Therefore, it can be said that e-marketing provides both kind of influences on the
profitability of organisation through which management can easily make better decisions for
getting sustainability in the marketplace.
SECTION 4
A. Develop objectives in consultation with key internal stakeholders
After consulting with the key stakeholders, some objectives were determined. The
attainable and measurable objectives for the Adventure caravan are given below:
 15% increase in market share to be achieved in next 3 years. This objective can be easily
achieved by the firm as it depends upon products provided by the company.
 The increase of 10% in the sales each year. This objective is also attainable as the sales
can be increase easily if proper marketing techniques along with the quality based
products is provided by the firm to consumers.

B. Ensure objectives are consistent with forecast needs of the business and market
In order to ensure that the objectives are consistent with the forecast needs of market and
business, the firm can use the Planning matrix which shows the strategies, allocation of tasks and
time.
Objectives Strategies Task
allocation
Time Means of
verification
Important
assumptions
Enhanced
market share
by 15% each
year
This can be
achieved by
using the
strategy of
differentiation
in which good
quality and
innovative
features are
provided in
products.
Task is
allocated to
the HR
department.
1+1+1 years Monitoring the
annual reports
and by
using the KPI
tools.
Expansion of
business on
timely basis.
Enhanced
sales and
customer base
by 10% each
year
This can be
achieved by
using the
advertising on
social media
and online
websites.
Task is
allocated to
the marketing
department.
1+1+1 years Monitoring
annual reports
and by using
the balance
score card
tools.
Customer
satisfaction,
maintaining
quality of
products.
C. Compatibility of objectives with the organisation’s projected capabilities, resources and
financial position
The compatibility of objectives with the capabilities, resources and financial of the
organisation can be understood by Marketing mix which is given below:

(Source: Understanding the Marketing Mix Concept – 4Ps, 2014)
Product: The product of the firms are unique and innovative in features due to which the
sales of company can be enhanced in future.
Price: The company is providing their products at $30,000 to $70,000. Also the company
can use the price skimming strategy in providing their products
Promotion: The company can use the social media, influencer marketing, providing
discounts etc. for the promotion of their products in order to enhance the customer base and
sales.
Place: The company is currently providing their products in their stores as well as
company can use the online market for providing the product which will assist the firm in
enhancing the sales.
Illustration 1: Understanding the Marketing Mix Concept – 4Ps

D. Ensure objectives are compatible with the organisation’s direction and purpose
The objectives which are determined above are compatible with the directions and
purpose of the Adventure caravan. The purpose of the firm is to earn more profit by providing
the quality based caravans to the consumers. Also the firm wants to get recognition in the eyes of
customers which is possible by enhanced market share and strong customer base. Also the
objectives are developed for increasing the market share by 15% and customer base and sale of
products by 10% of the firm. The objectives will assist the firm in achieving their purpose, vision
and mission in an effective manner (Stark, 2015). Also the objectives are aligned with the legal
and ethical laws which assist the firm in getting the recognition among the customers.
E. Formulate long-term strategic objectives and related key performance indicators
The long term objectives of the firm is to enhance the market share along with the
customer base and sales in the next three years. These objectives needs to be SMART i.e.
Specific, Measurable, Achievable, Relevant and Timely for getting the required performance and
profit. The firm needs to provide the training to employees for achieving these objectives
efficiently. Also the SMART objectives is necessary for satisfaction of customers and for raising
the market position of the company.
F. Develop a risk management strategy to identify risks and manage contingencies
Risks are the barriers which can impact the performance or execution of work in an
organisation. These risks needs to be managed properly by the management of Adventure
caravans in order to obtain favourable and desired results. Risks can be managed by using the
risk management plan as discussed below:
S.
No.
Risk
Description
Likelih
ood
Impact Mitigation Contingency
1 Lack of funds High High The cost risk can be
mitigated by keeping
more options of
funds, low priced
facilities, cheap
resources etc.
The management can create
back up plan for eliminating
such risks and needs to assign
the funds properly.

2 Time risk High Minimal This can be
mitigated by create
another plan, and
coordinating with
coordinators in an
effective manner.
The management can set the
schedule according to time limit
and adjust according to time
limitation.
3 Technological
risk
High Medium The technological
equipment must be
repaired at the right
time .
The management can purchase
extra equipment, which can be
used in emergency situations.
4 Resource risk High High This risk can be
mitigated by
arranging extra
resources, contact
with supplier.
The management can prepare
strategy for assigning the
resources in a suitable manner.
5 Safety risk Mediu
m
high This risk can be
mitigated by using
the machines with
safety and also
safety training can
be provided to staff.
The management can arrange
security guards for preventing
such situations along with the
proper medical kit.
Through this risk management plan, management can resolve or eliminate the risk before
they can impact the business of the firm. The management can use the above discussed strategy
in order to ensure that the marketing objectives are met in accordance with overall organisational
requirements and the associated risks are eliminated.
G. Document marketing objectives
Marketing objectives of a small businesses are based on the internal and external factors
which can impact the business performance or market situation of company (Yahaya and
Ebrahim, 2016). Before developing marketing objectives, the Adventure caravan needs to

determine their target audiences in order to survive in the market. The firm can identify the
general interest, age, sex, religion, income level etc. of people. Whereas the firm also needs to
conduct research for determining the objectives such as competitive analysis, internal analysis,
standards to any business etc.
The prime marketing objectives of Adventure caravan are stated as under: -
 To increase the number of enquires from marketing communications activities by 15% by
the end of the year.
 To increase sales by 15% within 3 years.
CONCLUSION
It has been concluded from the above report that the objectives plays a essential role in
accomplishment of the vision and mission of the organisation. The companies needs to capture
the marketing opportunities in order to acquire high market share and customer base. The firms
also needs to develop a risk management plan for eliminating the risks. The firms also needs to
ensure that the objectives are aligned with the mission of the firm so that these can be achieved
effectively.

REFERENCES
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Online
Understanding the Marketing Mix Concept – 4Ps. 2014. Available through:
<https://www.cleverism.com/understanding-marketing-mix-concept-4ps/>