Marketing Objectives and Strategic Analysis for Five Star Furniture

This report focuses on developing marketing objectives for Five Star Furniture, a high-class furniture manufacturer planning to expand its online services globally. It identifies the strategic direction, including improving customer service, expanding online services, enhancing product quality, and ensuring legal compliance. A SWOT analysis is conducted to evaluate the company's strengths, weaknesses, opportunities, and threats. The report outlines both short-term and long-term marketing objectives, such as employee appreciation programs, website traffic enhancement, and sales growth. It also details a marketing risk management strategy, covering potential risks, their severity, impacts, and control measures. The vision, mission, values, and purpose of the company are defined, along with a situational analysis that includes competitive, collaborator, and market analyses. Furthermore, the report explores marketing opportunities like B2C and social media marketing, evaluating their viability and contribution, and assessing their impact on the customer base and current business. Finally, it provides long-term strategic objectives, KPIs, and documentation of marketing activities such as seasonal offers and website development.

Running Head: Development Of Organizational Marketing Objectives
DEVELOPMENT OF ORGANIZATIONAL MARKETING
OBJECTIVES

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Development Of Organizational Marketing Objectives
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Conclusion................................................................................................................................14
Reference list............................................................................................................................15

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Development Of Organizational Marketing Objectives
Introduction
This project is focusing on the Five star furniture, that is located in France. This company
manufactures high-class furniture and they are planning for expanding online services.
Discussion
❏ Developing marketing objectives for Five Star furniture
● Identification of strategic direction
❖ To improve the service provided to targeted customers
❖ To acquire tools that are essential to expanding online services to different
regions. This includes adopting social media channels, starting online payment
and shopping facilities and others (Kotler, Burton, Deans, Brown, &
Armstrong, 2015).
❖ Improving the quality of products to increase global presence.
❖ Ensuring compliance with ethical and legal guidelines related to online
services.
❖ Collecting and investing required funds for improvement of product quality
and establishing online services. A fund of $75000 is essential for fulfilling
different goals and objectives of this company.
❏ Undertaking strategic analysis by reviewing current marketing performance
- SWOT analysis
Strength Weakness
● Innovative products
● High quality
● Lack of knowledge regarding
legislation of providing online

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Development Of Organizational Marketing Objectives
● Brand recognition service to other nation
Opportunities Threats
● Expansion of online service globally ● Increasing competition
● Changes in legislation of different
countries
As mentioned by Gupta, Malhotra, Czinkota & Foroudi (2016), strengths can be used to
overcome weaknesses and threats. This company needs to investigate about legal system
before expanding their online services and establishing global reach.
● Scoping marketing opportunities and formulation of long and short term
marketing objectives
Future marketing opportunities
➢ B2C marketing: Direct goods can be sold to customers through online platforms. As
stated by Lovelock & Patterson (2015), B2C tactics help companies to promote their
products directly to the public.
➢ Social media marketing: As suggested by Chaffey, Hemphill, & Edmundson-Bird,
(2015), social media platforms can be used to attract customers from other nations
within minimum time and budget.
Short term marketing objectives
➢ Designing and performing an appreciation program for employees
➢ Enhancing website traffic
➢ Developing and promoting offers
Long term marketing objectives
➢ Enhancing sales of the latest designed couch by 40% within the next 2 years

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Development Of Organizational Marketing Objectives
➢ Improving quality of product for satisfying customers
➢ Expanding the business in Asia by covering the nations of South East by the end of
2030
➢ Modifying current company website and developing user-friendly phase
➢ Identifying current competitors in the market
➢ Increasing the market share by 16% by the end of current financial year
❏ Marketing risk management strategy
Potential risks Severity Impacts Control
measures
Monitoring
strategies
Low demand
for products
due to shifts in
consumer
preference
Major Direct impact
on revenue
collection of the
company.
Conducting
proper market
research before
formulating
products and
services.
Market
information
must be
gathered in
every 2 months.
Improper
information
about online
service to
customers
Minor Less knowledge
will be there to
customers
regarding online
service of Five
Star furniture.
Establishing
direct and
proper
communication
with target
customers for
informing about
online services.
Contacting
customers
through email
and advertising
on each media.

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Development Of Organizational Marketing Objectives
Low
transparency
in marketing
due to
improper
provision of
product
information to
consumers.
Major Impact on
customer
satisfaction and
experience.
Loss of
competitive
advantage in the
market can
occur.
Designing
informative
contents during
the marketing
process.
Organizing
meetings for
employees
related to
content
designing in
every 6 months.
❏ Mission, vision, values, and purpose of company
Vision
To establish a global reach by expanding online service
Mission
➔ To provide a good experience of rich quality furniture to foreign customers
➔ To maintain an innovative approach throughout the business
➔ To ensure efficient teamwork to serve better to customers
Values
➔ Product
Furniture will be developed with innovative designs to meet expectations of customers.
After-sales service will be given if required.
➔ Service
Online service will be improved for providing a good experience of online shopping to
customers. Official website will be improved.
➔ Team

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Development Of Organizational Marketing Objectives
HR management will be improved and employees will be trained to work in teams.
➔ Profitability
Efficient leaders and effective management helps to create profit and margin
➔ Community
Lower environmental impact is ensured by this firm and this firm is trying to contribute more
to the community.
Purpose
Analyzing strategic documents for identifying targets and directors
- Annual report of the firm
- Code of conduct of the company
- Audit reports of previous year
- Strategic plans of the firm.
Analyzing these strategic documents, it was found that Five star furniture has achieved the
position of improvements in business. Moreover, adequate staff is recruited that can help to
achieve different goals and objectives. Further, effective and achievable objectives are
selected that can be managed by essential stakeholders of the company like employees and
suppliers.
- Direction of company
❏ Expanding business to new areas through online services and effective marketing.
❏ Improving quality of products and offering futuristic furniture to targeted customers.
- Target of company
Different segments will be targeted by this company. As said by Haque, TitiAmayah & Liu
(2016), targeting market segments helps to maintain focus of a company. Targets of this
organization are:
➔ Customers who prefer modern furniture

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Development Of Organizational Marketing Objectives
➔ Large corporate houses
➔ Women
❏ Situational analysis
Competitive analysis Five star furniture has analyzed its
competitors in terms of:
● Products offered by competitors
● Market share
● Marketing strategies and prices
offered
● Operations in market
Collaborators analysis Different stakeholders of this company
including suppliers, competitors, customers,
and employees. They all have a strong
impact on business and their cooperation
can help this firm to expand online service.
Market analysis and measurement of
market
This firm identified some factors that impact
their business. Preferences and needs of
customers is an essential factor that directly
impacts the business (Warren, 2015).
Moreover, size and trend of market also
impacts on operations of this firm.
Environmental analysis Political, economic, socio-cultural,
technological, environmental and legal

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Development Of Organizational Marketing Objectives
factors that affect performance of business
has been evaluated by this firm. It has been
found that all of these factors affect
business. As mentioned by Kopaneva & Sias
(2015), it is important to maintain business
operations by considering these factors.
Analysis of profitability and productivity Sales rate of the company must be greater
than that of expensed cost. Profitability
analysis can be done by comparing costs
with net profits.
❏ Legal and ethical requirements for business
➔ Knowledge regarding competition and consumer act is necessary for this business
firm. This can help to increase fairness in the business process and stakeholders can
be kept satisfied (Sarmento, Simões & Farhangmehr, 2015).
➔ During online marketing and service provision transparency must be maintained. This
helps to increase customer satisfaction rate.
➔ Marketing needs to be done by respecting cultural beliefs of different regions.
Difference in cultural beliefs and values can be noticed within different countries (Xu,
Carter, Taute & Dishman, 2016).
➔ Different social responsibilities need to be maintained that can help to conduct this
business in an ethical way.
➔ Legislation regarding environmental protection must be followed.
➔ While providing online services legislation regarding security and privacy of
consumer data must be maintained (Young & Cater III, 2016).

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Development Of Organizational Marketing Objectives
❏ Strategic direction and its impact on marketing activities
Strategic direction of Five Star Furniture
➢ Increasing website strategy by implementing effective strategies
➢ Retaining loyal customers by improving the quality of product and services
➢ Entering into new marketplace in Asia
Its impact on marketing activities
➢ This company will determine new target market in other nations.
➢ Suppliers will be asked for being prepared for an increase in orders and rates will be
negotiated accordingly.
➢ Customers will be asked to share their reviews on official website. According to
Fernandes & Pinho (2016), those reviews can help to attract potential buyers towards
this company.
● Identification and analysis of marketing opportunities in terms of likely
contribution and viability
Marketing opportunity 1: B2C marketing through online services
Viability Likely contribution
Direct interaction with customers to
understand their expectations
Make customers believe that this company
value their choices
Marketing opportunity 2: Social media marketing
Viability Likely contribution
Posting advertisements and conducting an
online survey to engage customers. Reviews
of current customers can be shared on social
Potential customers will trust on efficiency
of this company and they will be engaged by

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Development Of Organizational Marketing Objectives
media. taking part in the survey
● Using external factors to scoping marketing opportunities
Marketing opportunity 1: B2C marketing through online services
External factors Scope
Costs Production costs are $35000
Benefits Direct relationship with consumers can be
established.
Risks Improper knowledge acquisition about
consumer preference can impact on
satisfaction rate.
Opportunities A new market can be explored through
direct consumer acquisition.
Marketing opportunity 2: Social media marketing
External factors Scope
Costs $25000 is required as a production cost.
Benefits Operational costs can decrease and large
segments of consumers can be attracted.
Risks A data breach can occur due to hacking
Opportunities A brand image can be created, which can be

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Development Of Organizational Marketing Objectives
considered as a future asset (Crane, Matten,
Glozer & Spence (2019).
● Analyzing opportunities in terms of their fitting with capabilities and goals of the
company
➢ Opportunity of marketing option1: B2C marketing through online services
- Helps to offer products as per demand of customers with efficiency
- Helps to understand improve level of customer satisfaction
- Helps to earn maximum profit
➢ Opportunity of marketing opportunity 2: Social media marketing
- Helps to target potential foreign customers
- Helps to engage customers in business
- Helps to increase market share
● Evaluating opportunities to determine its impact on customer base and current
business
Impact from marketing option 1: B2C marketing through online services
Current business Consumer base
● Greater revenue can be earned.
● Business can be expanded to new
regions outside Europe.
Detailed information about the preferences
of consumers can be collected and online
service can be provided in a proper way.
This can help to increase consumer base.
Moreover, Wang, Dwi Lestari & Yang
(2015) stated that consumer satisfaction rate
can be increased by incorporating online