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