logo

A Market Analysis and Implementation of Marketing Plan

15 Pages4272 Words71 Views
   

Added on  2020-07-22

About This Document

2 Micro environment Analysis2 Macro environment Analysis6 Market size 7 SWOT analysis 7 Market research requirement 8 Consumers8 Conclusion and key issues/ assumptions emanating from Audit. 8 Key Marketing objectives 8 Core marketing strategies 8 Implementation of marketing mix9 Action plan 9 Marketing Segmentation 10 CONCLUSION 11 REFERENCES 12 INTRODUCTION For any organization marketing is an important aspect to run the business more effectively and efficiently. Further, it includes the impact, contingencies on the organization, risk, issues and many more things which can

A Market Analysis and Implementation of Marketing Plan

   Added on 2020-07-22

ShareRelated Documents
Marketing Plan
A Market Analysis and Implementation of Marketing Plan_1
Table of ContentsINTRODUCTION...........................................................................................................................1Background: ...............................................................................................................................1Understanding the market...........................................................................................................2Micro environment Analysis.......................................................................................................2Macro environment Analysis......................................................................................................6Market size..................................................................................................................................7SWOT analysis............................................................................................................................7Market research requirement.......................................................................................................8Consumers...................................................................................................................................8Conclusion and key issues/ assumptions emanating from Audit. ..............................................8Key Marketing objectives...........................................................................................................8Core marketing strategies ...........................................................................................................8Implementation of marketing mix .............................................................................................9Action plan .................................................................................................................................9Marketing Segmentation...........................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES .............................................................................................................................12
A Market Analysis and Implementation of Marketing Plan_2
INTRODUCTIONFor any organization marketing is an important aspect to run the business moreeffectively and efficiently. It helps to raise the business to new height and achieve success. Thereare various things which helps in the organization development but for processing it requires theplan and strategies (Alberti, 2014). Planning is required to accomplish the task according toneeds and situations. Every marketing planning is based on certain analysis or strategies. Itmust contains the expense budget, marketing analysis and strategies as well as sales forecasting.Further, it includes the impact, contingencies on the organization, risk, issues and many morethings which can affect the organization and its structure. In terms of the definition it is the toolwhich helps to achieve the marketing objectives and build the strategies which helps to eliminatethe competitiveness. It is regularly maintained by the company and the main purpose of it is toachieve the objectives, maintain the budget for future development. Along with this, it supportsin the accountability and developing the strategic planning for strong customer service andimprove teamwork. Background: Following marketing plan is about the IHS Global Alliance whose main services are inhospitality and conference facilities where they design operating system for the food andbeverage system. They are mostly focused on designing the equipments which are basically forthe hotels and venues. The company products are launched all over the world and is famous fortheir design. Firm type is private limited with share capital. They are expanded over 200 cities,in 50 countries. Most of the hotels they are providing the services are 5-star luxury hotels likeArmani, Conrad, Hilton, Park Hyatt, Four season and Marriott. The company was established inthe year 1990 and has location in 125 Henderson Road, Rowville, VIC ( Altinay, Paraskevas andJang, 2015).Current markets and products offered: It is the hospitality based industry and has morethan 200 employees. The company is famous for the their products in conferencing andBanqueting tables. Some of the major products developed by them are mobile designer cookingstation, Dining equipments, Bar system, Buffet solutions. Company is offering its major productsto the 5-star luxury hotels in Dubai, Chicago, Bangalore, Melbourne and New York. Critical issues which will be addressed by the marketing plan are market-segmentselection which includes the competition, barriers and size. Along with this, it will include the1
A Market Analysis and Implementation of Marketing Plan_3
specificity in their goals. Moreover, it will include the measure-ability and achieve-ability. Thiswill include the details like the marketing plan will be measurable or not such as the brandawareness. Through this the company can keep its progress tracked and accounts can bemeasured easily. Little success is also accounted in the business. So understanding theenvironmental impact can help to build strength against competitors and achieve market-success.Understanding the market.To have the successful business, there is need to better strategies for the organization andemployers. Further, every company makes the products for their customers so understandingtheir perception about the product. There are many ways through which company can gainknowledge about the company such as market analysis, product types, retail price, riskmanagement, strategy setting and targeting retailers. For the given organization, as it mainlydeals with the hospitality and conference industries segments and major products are designedfor it. Further, they are providing the products to only 5 Star luxury hotels and venue markets(Armstrong and et.al., 2015). The company is expended majorly in the The America, Europe,Middle east, Asia and South Pacific. Major details about the company is shared through theLinkedIn, Facebook, Twitter and Instagram. Down below are the methods which will help tounderstand the market of the following company. Micro environment AnalysisThere are 2 methods by which micro environment can be easily understood, Porter's 5forces and BCG Matrix is used: Porter's 5 models: It helps to understand the organisational strategic and structure. There are 5models included in it. They are2
A Market Analysis and Implementation of Marketing Plan_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Sales and Marketing Management Assignment
|13
|2977
|69

Report on Market Plan for Rainbow Hotels
|15
|3058
|243

TOUR.7800 Marketing Plan Assignment - Rainbow Hotel
|16
|3229
|275

Marketing Plan for Hotel Relais and Chateaux
|8
|1732
|106

Managing Accommodation Services in the Hospitality Industry
|17
|945
|26

Hospitality Provision in the Travel and Tourism Sector Assignment - TUI Group
|13
|3859
|282