Strategic Marketing Management
Business Finance
Task:
Assume that you are hired as marketing manager of one of the prominent travel and tour operator in Oman. You are giving the responsibility of keeping the company in competitive position. To achieve this objective, you are tasked to prepare a comprehensive strategic marketing plan (SMP) for the company considering the outline below to facilitate and guide you in the preparation of the plan.
1) Introduction
– Industry overview.
– Company profile (history, products / services offered, geographic location, market segment, market share, sales performance, facilities, manpower, organisational, structure)
– Vision and Mission statement.
2) Company analysis (external and internal capabilities)
a. Analyse the internal and external environment of the company as basis of preparing the marketing plan using the following:
– SWOT analysis to analyse the current condition of the company.
– PESTLE analysis to evaluate the micro environment of the company.
b. Discuss the implications and the possible actions of the company or how the company is dealing with the situation.
3) Marketing objectives
a. State clearly the marketing objectives of the company and comment on these objectives. Strate what you want to achieve within the next three years.
b. Mention and discuss the target cells of the company for the next three years based on previous sales performance.
c. Clearly state and assumptions in the discussion.
4) Marketing strategies
a. Discuss the existing marketing strategies of the company.
b. with reference to the above strategies discuss the marketing strategies you could possibly employee to support and sustain the existing marketing strategies with reference to the following strategies:
– entrant strategies (market Pioneer, close follower and late follower)
– growth strategies use the Ansoff matrix model ( market penetration, project development, market development, and product /market diversification)
c. use appropriate diagrams, charts, matrices, models, etc. to support your discussion and analysis.
5) Marketing mix strategies
Using the marketing mix model (price, project, place, promotion, people, process and physical environment), identify and analyse strategies that your company should put into action in each of the marketing mix to meet consumers needs.
– Price strategy: consider the porter’s generic strategies to develop a competitive advantage based on price. Discuss the pricing method, discount and allowance and prices zoning.
– Product strategy: consider the product mix in your discussion and use the Boston consultancy Group matrix to determine which to invest in, and which to drop.
– Place strategy: consider the geographical coverage, distribution channels, physical distribution and Logistics, and electronic distribution.
– Promotion strategy: consider the promotion mix, e-marketing or viral marketing in your discussion.
– People strategy: consider the people directly involved in the operation of the company like the employees, management, and customer service.
– Process strategy: consider the systems and process affecting the operation and execution of the service.
– Physical environment strategy: considered the physical evidence that the service was delivered, comfort and facilties. Consider how a business and its products are pereceived in the Marketplace.
6) Findings, Conclusion and Recommendation:
– Summary of the findings and drawing the conclusion.
– Layout some recommendations based on the findings and conclusion.
*** Total word Count = 5000 Words Only.
*** In-text Citation and References Using Harvard Style.
*** Use a minimum of 15 references.
