Marketing Management And Demographic Analysis

RUNNING HEAD: Marketing Management
Marketing Management

Marketing Management 1
Contents
Introduction......................................................................................................................................2
Situation Analysis............................................................................................................................2
Market Summary.........................................................................................................................2
Target Market..............................................................................................................................3
Market Demographics (Geographic, Demographics, Behavior Factors)....................................3
Marketing goals and objectives.......................................................................................................3
Industry and market analysis...........................................................................................................3
Target Customers.............................................................................................................................5
The Brand........................................................................................................................................5
Strategies and Tactics......................................................................................................................6
The implementation and Contingency Plan.....................................................................................7
Financial Projections.......................................................................................................................8
Evaluation and Monitoring..............................................................................................................9
Reflection.........................................................................................................................................9
References......................................................................................................................................10
Appendices....................................................................................................................................11

Marketing Management 2
Introduction
The purpose of this paper is highlighting the reader about the details of business plan for an
accounting and audit firm IKRA. The organization is aiming to expand its scope of business in
the market of Asia. In the Asian market, the company would start its business functions by
originating the business in Myanmar market. The business IKRA would focus on providing
auditing and accounting services in whole of Asia. Further, below mentioned report provide
details about the external environmental analysis for the organization and elaboration of
strategies that the company should to use to secure its position in the target market.
Situation Analysis
Market Summary
The South Asian environment is vibrant and dynamic which is populated with 643 million
people (2018). The Asian environment has become one of the fastest growing economies in the
world. The combined GDP of ASEAN countries encounters to be on the 5th position in the world
that was 2.8 trillion in 2017. The ASEAN countries have become a reason for the growth and
development in world’s economy. The countries contribute 3.5% of the world’s GDP in 2017.
Flow of Foreign Direct Investment is also highly promoted in the nations that increase the inflow
and outflow of funds by the companies. The capital market development is still considered to be
a challenge for the ASEAN markets (OECD, 2019). The corporate governance policies play a
huge role in achieving economic objectives for the purpose of attain confidence of investors so
as to form and allocate capital. The companies require to show timely and accurate disclosure of
all the material. This is when the organization IKRA comes into existence so as to help the
companies solve their financial problems and help them to handle their financial assets
appropriately without harming the interest of any stakeholder. With increasing complexities of
accounting standards, the companies have developed the need to take assistance from accounting
and auditing firms to secure their position in the market and eliminate penalties as well (Lim,
2017).

Marketing Management 3
Target Market
The accounting and auditing firms are basically company advisors who analyse the money
making practices of the organization and evaluate its impact on the stakeholders. Therefore, the
target market for the organization IKRA involves the companies present in the Asian market that
have an annual profit of above $1.5 million.
Market Demographics (Geographic, Demographics, Behavior
Factors)
Geographic: on the basis of this segmentation, the company should target companies present in
the Asian market. As the Asian market is huge, therefore, the company should start by targeting
organizations present Southeast Asian environment.
Demographic: The Company should target company who have employed people more than 50
while having net worth of more than $ 1.5 million. The company would also target companies
present in medical, education and manufacturing segment.
Behavioural: the Company should target people who need stable accounting firm to work with
them in long run. As the company is new and they need to make permanent clients, therefore,
IKRA would fetch stable companies who require long term accounting services (McKeever,
2016).
Marketing goals and objectives
 Attain annual sales of $ 1 million in its initial year
 Capture at least 15 permanent client for long run
 Create visible profile by establishing the reciprocal referral source by using following:
o Credit Union
o Brokerage Companies
o Major Banks
 Reach to the level of 50 permanent employees in organization