Question

Assignment 3: Introduction & Environmental Analysis, SWOT, Marketing Objectives (Goals) Marketing 4100

Directions

Total Point Value: 75 points

Anticipated Time to Complete: 12 hours

Type of Assignment: Individual or Team

Audience for Assignment: The CMO and your boss, a director-level person who relies on your evidence-supported reports to make the best decisions in a minimum amount of time.

Assignment Objective: To write the marketing plan introduction as well as to collect and analyze data about the environment in which the business operates (will operate) and develop a correct SWOT analysis. This assignment relates to: Course Learning Objective 1: Collect and analyze marketing research data about the market environment; Course Learning Objective 4: Write a complete Marketing Plan using ethical reasoning and critical thinking; and Course Learning Objective 5: Communicate effectively in contemporary forms, to business audiences including colleagues, supervisors and clients, in appropriate ways about business issues.

Procedure: This assignment begins the development of the marketing plan for your product/service. Write your introduction to the plan, following the instructions below and using information as appropriate from Assignment 2 to complete the introduction. Be sure to review the SWOT PowerPoint explanation found in Tool Box->Course Documents prior to writing the SWOT analysis. Include your marketing objectives as described below.

Introduction:

• The introduction serves as a roadmap for the reader.
  • It states the mission, vision, and values of the firm as well as how the product/service aligns with those statements.
  • It explains why the product/service is important to the customer in one sentence.
  • It provides an overview of the plan. For example, “First, the marketing environment will be discussed, followed by the marketing strategy used. Next, the customer journey will be discussed as well as the development of customer-based brand equity. The marketing tactics used to achieve our goals follows next. We end with our conclusions.”
• The introduction should be no longer than ½ to ¾ page.
• You may want to refine the introduction after completing your entire plan.

Environmental (Situation) Analysis:

This section presents relevant background data on sales, costs, the market, competitors, and the macroenvironment. How do we define the market, how big is it, and how fast is it growing? What are the relevant trends and critical issues? You will use this information to carry out a SWOT analysis.

Marketing Objectives (Goals)

The SWOT analysis leads directly into “goal formulation, developing specific goals for the planning period.” Types of objectives relate to areas including profitability, sales growth, market share improvement, risk containment, innovation and brand. Note that the goals then are accomplished by selecting the appropriate marketing strategy. (See KK, p. 52 for more information.)

• Your objectives (goals) must be specific, measurable, attainable, relevant and time-based (SMART).
• They are derived from your SWOT matrix.
• They must be arranged from most to least important.
• Objectives must be consistent, that is, not in opposition to each other.

Below is the Service to develop the above assignment from:

Proposal of Services

<COMPANY ABC> will provide an e-marketplace for various kinds of domestic services including painting, plumbing, electrical work, flooring, gardening, technical Functions and so forth. Their solution will provide an online marketplace for technicians for these type of work. The customers registered on their website will be able to search for technicians having adequate skills (confirmed by user rating), and nearest to the locality of the customers. The value proposition is thus to provide an easy access to domestic service market and ensuring quality service without getting harassed in the actual market. The payment will also be wallet-based secured transaction and there will be hardly any chance of over-charging because the payment will be made directly to <COMPANY ABC > and the rates will be fixed by ARPBA with the technicians during the contract. The customers can compare the hourly rates provided by the technicians on the go on the website and can select a technician accordingly. Nonetheless, households will be the main customer base as they are providing with domestic services. Other than this, they don’t find any need to further segmentation because the household needs are almost everywhere. However, they will focus more on the Gen X and Gen Y customers because this is an e-business model and the preamble to the business in that the customers should at least be conversant with a mobile phone, computer, and internet. Within this group, people will be young, working, an aspirant for their future and will want to spend less time with domestic activities. The solution will be meeting their expectation fully.

Company ABC will use the internet and television as the primary channel to reach out to their target segment. They will especially attract this segment through social media. For example, the Company will have their own profiles on Facebook and Twitter and a distinct channel on YouTube. They will be posting relevant ads and information about the company in their posts and videos in these channels. Additionally, the Company will focus on TV based attractive and unique advertisements and big-sized posters in the busiest streets of the cities. As mentioned earlier as well, the Company will connect with the customers primarily through the social media. They will encourage them to add or post comments on their posts and provide important suggestions in the initial phase of the business. Later on, as the business grows, they will try to capture the individual needs of different sub-segments and help them fulfill their special needs through the use of machine learning and algorithm-based data analytics in our online platform. In this way, they will generate different sub-segments and tailor offerings (i.e. a variety of service) based on individual needs

Following are going to be the key activities to support the value they are going to offer

• Development of the online platform (collaborate with/ hire experts)
• Market research to know the current annual income of the technicians under different service categories.
• Make contracts with the technicians to include them as independent contractors – will need to frame an attractive offer for them which can give them a far more lucrative income than what it is now. The rates for particular service will be decided in these contracts.
• Promoting the platform (i.e. the business as a whole) to reach out to the target customer segment.
• Setup a robust customer service center which can operate seamlessly 24x7

Key resources

Following are the key resources necessary for commencing the business.

• Highly skilled IT professional (a good mix of new enthusiasts and seasoned experts)
• Database storage (Prefer a cloud-based storage/ platform)
• Related hardware and software
• Payment gateway for secured payment
• Training Academy
• Customer service centers and staffs there
• Experienced and intrinsically motivated people in the leadership positions
• Cash

Key partners

There can be a number of partnerships required to make this venture a success. However, some of these partnerships will really be crucial for success. They are:

• The marketing/ industry research partners
• The financiers – banks or financial institutions
• The suppliers of the materials required in domestic service (They will provide their own warranty on each of the parts used in service, this is going to be another value to the customers).
• Regulators and local authorities need to be taken into confidence because the technicians will be independent contractors and so they will have limited access to their background search.

In conclusion the primary revenue will come directly from the customers. The customers will directly pay <COMPANY ABC> for the service received. <COMPANY ABC> will pay the technicians based on their hours served at the customer’s place. The secondary source of revenue will be from advertisements on the websites (such as through Google AdSense). The main cost involved are the Salary to the employees, payment to the technicians for their professional services, IT infrastructure development and upgradation, rental payment to cloud service, fixed assets such as land and building, R&D, Marketing & advertisements. So the success of Company ABC will depend on the implementations of all these segments and their professional services provided to their customers will be outstanding.

Answer 1

For this question i have enclosed the Introduction stage,vision,mission,reasons for the business,marketing environment,market analysis,marketing plan,environmental analysis,marketing objectives and SWOT analysis.