International school of management and technology PDF

INTERNATIONAL SCHOOL OF MANAGEMENT AND TECHNOLOGY
GAIRIGAUN, TINKUNE, KATHMANDU,
NEPAL
QUALIFICATION Pearson BTEC HND In Business
UNIT 2
QFC LEVEL 4
Unit code
R/508/0486
Assignment Title Operation and Management
Assessment No: 01
Session Year Dec 2018
Teacher Name Pankaj Diyas Sharma
Student name Sushant Baral
Assignment Submission Date
Contents

Introduction.................................................................................................................................................1
Marketing Plan........................................................................................................................................1
SWOT Analysis.........................................................................................................................................2
Marketing Objectives...............................................................................................................................4
Financial Objectives.................................................................................................................................5
Marketing Mix.............................................................................................................................................5
Implementation and Control of Marketing Plan......................................................................................7
Introduction.............................................................................................................................................7
Advantages of marketing plan.................................................................................................................9
Disadvantages of having marketing plan.................................................................................................9
Conclusion.............................................................................................................................................10
References.............................................................................................................................................11

Introduction
Hublot Watch Company was founded in 1980, by Carlo Crocco, and the watches were designed
with gold finish, and with use of natural rubber in the strap. Since, then innovation and fusion of
different arts have become the key driving force of the company (Watches in Australia, 2017).
The company is renowned brand in the luxury wristwatch segment. Hublot Big Bang Blue is a
limited edition exclusive collection of 100 splendid watches. The paper provides an overview of
the marketing plan of Hublot Big Bang Blue Watches.
Marketing Plan
A marketing plan can be described as a document which includes the advertising and also all the
marketing efforts planned by the company for the coming year. The plan will briefly describe the
current marketing situation, and will discuss the target markets, segmentation, positioning, and
briefly describes the marketing mix to be used by the company so as to achieve the marketing
goals.
The marketing plan will include a situational analysis, which will describe the current situation
of the company; it will include analysis of the strengths, weaknesses and the challenges and
opportunities for the company or product. The situational analysis will also include the
competitor analysis. The next step is describing the target audience. The target audience will
include the consumers segmented as per demographics or any other characteristics. For the
luxury watch segment, the target audience will be preferably the elite population, and the higher
middle class. The next step will discuss the marketing and financial goals, it is important to
ensure that the goals are SMART (Binkley, 2009). The next step will include the strategies and
tactics. It will constitute a major part of the plan and will describe the strategies to be used by the
company to achieve the goals, and also entails the tactics to be used to implement the strategies.
Finally, the plan will discuss the costs associated with the implementation of the plan. Thus, the
marketing plan will analyse the current situation and devises strategies to achieve the marketing
objectives while managing the budget.
SWOT Analysis
Strengths

Hublot is a luxury watch company and innovation is the biggest strength of the company. The
company designs and manufactures some of the most exclusive and classic designs, and the
limited edition big bang blue watches are considered as priced possessions. The company is
admired for the fusion of innovation with precious metals and articles (Binkley, 2009). Hublot
has developed a niche market. A major strength of the company is its marketing campaigns and
associations with the sports events which increases brand awareness and enhances brand image.
A big product portfolio is one of the biggest strengths of Hublot Big Bang Watches (Watches in
Australia, 2017).
Weaknesses
The company does not have global visibility, and the operations of the company are limited to
some 40 countries worldwide (Yeo, 2017). Another major weakness of Hublot is that, it does not
use an aggressive marketing strategy for increasing the brand visibility as compared to other
luxury brand watches.
Opportunities
Hublot Big Bang Blue watches have several opportunities in the emerging economies, with the
increasing as the developing markets have shown positive signs for the luxury watch market.
Moreover, Hublot can gain new markets with increasing virtual visibility and making its
products online (Yeo, 2017). Moreover, Hublots recent plans of increasing the luxury boutiques
will provide opportunities for expansion. Despite stiff competition, there is absence of monopoly
in the luxury watch market.
Threats
The biggest threat for any business is competition, and Hublot faces stiff competition from other
brands like Rolex, Tag Heur, Calvin Klein and others. Moreover, the fake watch industry that
produces the copies of the luxury watches and sells them at cheaper prices is also a threat for
Hublot Bi Bang Blue Watch Company.
Competitor Analysis
Hublot Blue Bang Watch faces stiff competition from other companies in the luxury watch
section like Tag Heur, Casio, Calvin Klein, Fossils, Timex, and others, however, Hublot faces

cut throat competition with Rolex (Yeo, 2017). Rolex is a renowned luxury watch company
founded in 1908, and since, then Rolex has been focusing on designing innovative watches, that
are exclusive in design, style, and provide a style statement.
Promotion
The competitors of Hublot Big Bang Blue are big names in the luxury watch section. The biggest
strengths of the companies like Rolex and others are that they have adopted aggressive marketing
models, and have been associated with sports and other endorsements. However, recently,
Hublot Big Bang has also started associations with sports and other events for increasing brand
visibility.
Product
The product portfolio of Hublot is bigger than that of Rolex. The other competitors have been
focusing on features like dust-resistant, water resistant, Hublot have managed to focus on
introducing better grip watch strips with the mixture of metal and rubber. Hublot has introduced
many lines under the Big Bang name, like Big bang Black, Big Bang Rose gold, and the latest
Big Bang blue. The other product features are more or less the same.
Price
The luxury watches companies have either adopted a competitive price model or high pricing
model. The prices of the Rolex and Hublot watches are more or less similar with very small or
negligible price difference (Yeo, 2017).
Place
While Hublot mainly operates through its own boutiques, Rolex and other brands have
successfully established their stores in many countries worldwide and have increased their
network by associating with other watch selling companies. Moreover, other brands are available
online on big online shopping sites like Amazon and Flipkart (Lankarni, 2013).
Mission

Hublot’s Mission Statement is “Be First, Be Different, Be Unique” (Hublot, 2016). The company
follows the mission statement and with the help of fusion of different arts designs some of the
exclusive and unique collections in the luxury watches industry.
Marketing Objectives
Marketing objectives can be described as SMART goals which are achievable and measurable.
Currently, the company has not explored the developing economies; hence, it is important for the
company to devise a plan for entering into the developing economies (Kaho, 2016). The
following are 2 major marketing objectives of Hublot Big bang Blue.
1. To increase its virtual presence. The company will start its online operations, by giving exclusive
rights to its limited edition collection to a particular online partner. Hublot can partners with big
online stores like Amazon to exclusively sell its products. In next 6 months, Hublot should start
its online operations. Later, Hublot can also start online selling from its own virtual stores.
2. Hublot is the official timekeeper of Football world cup, and Formula1, and has been associated
with some popular film actors for brand endorsements. In next six months, Hublot must host
some sports events, and associate as official sponsors of NBA leagues, so as to increase brand
visibility and enhance brand image.
3. Since, Hublot only sells its watches through its own stores, it should also merge with certain
other watch selling boutiques to increase brand visibility. In next 6 months, Hublot big bang blue
should be available in elite watch stores.

Financial Objectives
The following three financial objectives are set that are to be achieved by Hublot Big Bang Blue
in next 6 months:
1. A major financial objective achievable in 6 months is to produce a clear and realistic forecast.
Due to aggressive marketing, the projections are generally not aligned with reality and hence, it
is important to have clear and realistic projections that are achievable in a given time.
2. Another major financial objective is to increase the current revenue by 2 % in next 6 months
3. Increasing the revenue via virtual selling, and online selling.
Marketing Mix
It includes the 4 Ps of Marketing Mix which includes, the product, place, price and promotion
(H, 2017). The marketing mix of Hublot Big Bang Blue watches is as follows
Product: Hublot is a luxury watch brand founded in 1980, since then, it has been using
innovative techniques for the convenience of its users. It presents a great combination of design,
classic looks and the most efficient strap of a sports watch. It has a bigger product portfolio and
mainly includes limited edition watches. Hublot Big bang Blue is a 100 limited edition watches
exclusive collection.
Place: Hublot Big Bang Blue Watches are sold through directly through showrooms, and
designer boutiques. However, these watches will now be sold via authentic dealership, and by
partnering with online stores for launching the exclusive collection.
Promotion: digital marketing will be used extensively, to increase the visibility and target young
users who are creating a new niche market. The social media marketing through, Facebook,
twitter and other social media sites will be included in the marketing strategy (Corinani, 2006).
Price: The Hublot Big Bang Watches are premium priced and since they are limited edition
watches, the prices are even higher.

Digital Marketing Communications Plan
Objectives: The objectives of a place specific digital communication plan are to increase
visibility in the virtual space, by adopting different places like social media and emails and
website (Corinani, 2006).
Hublot has a personal website and can use digital marketing to increase the viewers by first
launching the exclusive collections on internet along with the other campaigns. Moreover,
Hublot can ask for suggestions to engage customers and improve their products and provide
proper feedback.
Hblot can also target the social media, by including some contests, or allowing the consumers to
provide their feedback for improvements. Also playing social media games will increase the
brand awareness and loyalty.
Hublot can also use emails for sending direct emails to its elite customer base and their contacts,
about the launch of exclusive watches, and the events sponsored, and some elite customers
should be sent passes so that they attend the events (Ghosh & Stock, 2017).
Action Programs to Achieve Objectives
Marketing Objectives: To increase its virtual presence, Hublot Big Bang Blue Watches will
partner with the leading online store like Amazon or exclusively sell online and launch some
exclusive limited edition collections online, especially during some festivals or sports events.
Hublot should approach Amazon for selling their watches online and by next six months sign a
deal. Amazon has an established network and it is easier to sell on already established networks
than selling by establishing own networks. Also, for increasing brand visibility, Hublot will also
sell its limited edition watches like Big Bang Blue and other exclusive collections via increasing
its reach with the help of authenticated dealers. Thus, Hublot can enter emerging economies
through authenticated dealership selling. For increasing the brand visibility and sales, Hublot will
engage in sponsorship activities for becoming global sponsors of NBA leagues.
Financial Objectives: Best available forecasting tools and software will be used for forecasting
realistic goals and projections so that the designed goals are achievable. Increasing brand

visibility and extending selling practices by partnering with online stores and online selling along
with increased authenticated dealership will help in increasing the revenue and sale by 2% from
previous year. Using the digital marketing communication plan and increasing virtual presence,
organizing online events, and sponsoring some online events will help in increasing visibility,
and moreover, online selling will also increase revenue.
Implementation and Control of Marketing Plan
Introduction
A marketing plan is a record advanced by means of organisation chief and
advertising specialists. This tools gives a guideline for the advertising branch
to put into effective steps which is essential to align with marketing target
and techniques. Commonly, companies
increase a advertising plan each few years.
Objectives
The main reason of the marketing plan is to set the company on a
particular course in
Advertising and marketing. Desires of advertising commonly align with
broader
corporation goals. A brand new company trying to develop, as an
example, frequently
which has a marketing plan that highlight trends to growth under
client demand. A low penetrating price strategies is a common approach.
Grabing advertising percentage, growing consumers
cognizance and towering the favourable
attitudes are different not unusual objectives. The goals elements of
marketing plan allows
company to make sure all advertising investments have a target.
Methodology

As marketing is essential in every organization. Likewise, here for The Hublot
Big Bang Blue I have made a marketing plan in order to make possible changes
on productivity strategy. Firstly, market research is done in which the needs
and demands of the customers is visualised, this research directly or
indirectly help on production strategy. Marketing plans make a balance
between the objectives of an organization and chance of the market.
This marketing plan involve all the elements of the marketing mix 7Ps.
Product
The product will be on the preferences of the consumers and awaited one.
Our company is also trying to produce more product under this brand like t-
shirts, sports items etc.
Price
The price of the product will be reasonable which will be affordable for all the
Nepalese people.
Place
We are now planning to locate our product and expand our firm where the
products are easily accessible in regard to the present and potential
customers.
Promotion
We are developing and developing gradually and also we are maintaining our
reputation.
People
Here, in our company we are hiring marketing director and also few number
of staff who are qualified in order to launch the plan successfully.

Process
For the growth and sustain of the company, we are making number of
products under the consideration of the current and potential customers and
also we are taking risk on selling on the market.
Physical Evidence
This product is trusted and have strong connection with the customers. It is
accepted by the public having sentiments that it is made in Nepal.
Advantages of marketing plan
 Identification of wants and needs of clients.
 Determination of demand for a product or services.
 Aids inside the structure of the products which fulfil marketer desires.
 Outline the methods for creating the cost for day by day functioning, to
pay off debits and revolve a income.
 Identification of competition and analysation of product’s aggressive
benefit.
 Identification of new products location.
 Identification of current and potential customers.
 Permits for trying out to look if trends are producing the favoured
results commercial enterprise negative aspects.
 Identifies weaknesses for your business competencies.
Disadvantages of having marketing plan

 Can result in defective marketing decisions if data isn't always
analysed nicely.
 Creates unrealistic financial projections if statistics isn't interpreted
efficaciously
 Identifies weaknesses to ordinary marketing strategy.
Conclusion
Hublot is a renowned name in the luxury segment watches. It has been associated with various
sports events and has even partnered as official time partners in different sports events. The
paper presents the marketing plan for Hublot Big Bang Blue, and recommends, Hublot o start
their online sales and maximize reach by online selling and authenticated dealership.

References
Corinani, M. (2006). Digital Marketing Communication. SYMPHONYA Emerging Issues in
Management, , 2, 41-61.
H, B. (2017). Marketing91. Retrieved September 28, 2017, from
https://www.marketing91.com/marketing-mix-4-ps-marketing/
Hublot. (2016). Hublot. Retrieved September 28, 2017, from
http://www.hublot.com/en/news/hublot-and-black-jaguar
Kaho, M. (2016). Chron. Retrieved September 28, 2017, from
http://smallbusiness.chron.com/examples-marketing-objectives-20231.html
Lankarni, N. (2013). New York Times. Retrieved September 28, 2017, from
http://www.nytimes.com/2013/04/26/fashion/26iht-acaw-hublot26.html?mcubz=0
2017). Retrieved 21 August 2017, from http://cqu.kanopystreaming.com/video/critical-business-
skills-success-innovative-
Watches in Australia. (2017). Euromonitor.com. Retrieved 21 August 2017, from
http://www.euromonitor.com/watches-in-australia/report
Martin, D. (2009). The entrepreneurial marketing mix. Qualitative Market Research: An
International Journal, 12(4), 391-403.
Yeo, K. (2017). Hublot Big Bang Blue Watch | aBlogtoWatch. aBlogtoWatch. Retrieved 21
August 2017
ghosh, B., & Stock, A. (2017). Advertising effectiveness, digital video recorders, and product
market competition. Retrieved 21 august 2017
Binkley, C. (2007, may 03). Style — fashion journal: luxury goods without the luxury service;
are upscale retailers losing sight of what draws their loyal customers? Wall street
journal retrieved from https://search-proquest-com.Ezproxy.Cqu.Edu.Au/docview/399049633?
Accountid=10016