Conducting Marketing Plan
Sample Report on Conducting Marketing
For any firm, marketing has greater importance. This is because, it is with the help of an effective marketing plan only firm will be able to direct its efforts with regard to attain its formulated goals and objectives in an effectual manner (Importance of marketing, 2016). The present report is based on Bournemouth City College. It is the private limited company which basically provides accommodation to both local and international clients. The present report will depict the marketing plan for the respective company.
In the management process, marketing is being consider as one of the most significant tool. This is because, with the help of given tool only manager of Bournemouth City College can assess the needs and demands of its respective buyers. Hence, on the basis of this they can perform significant changes in the services which are being offered by it to the respective buyers. Thus, it is by complying with the given type of activity only Bournemouth City College can enhance the satisfaction level of its customers in an effectual manner. The given thing will lead to the firm in the form of increased profits and sales.
Besides this, there is a difference is being existed between marketing function and orientation. Here, the main role of marketing function is to conduct the extensive research. However, marketing orientation helps in developing and designing the products as per the needs of the buyers. Additionally, marketing function is to spread awareness related to company whereas marketing orientation focuses on ascertaining the needs of customers and developing products accordingly. Hence, marketing orientation is related to input mechanism whereas marketing function related to output. Moreover, marketing function aims to compete with the competitors and also to develop the brand image. On the contrary, customer focus is laid on marketing orientation. Both concepts have very crucial role in the task of attaining the organization objective of Bournemouth City College. Here, the firm has an aim to provide excellent environment to their customers that assist them in their career and the study. Here, with the help of marketing orientation and function needs of buyers can be assessed. Thus, by moulding the services of firm as per assessed need, cited firm can meet its objectives.
The marketing have very important role in the task of assessing the needs of stakeholders. However, in this regard, varied stakeholders of Bournemouth City College identified and it consists of employees, customers and suppliers etc. Here, by conducting the thorough marketing research manager of cited firm can get the information about its stakeholders. Here, by giving effective response as per the gathered information, cited corporation can perform improvement in the sales and profits. For example, if Bournemouth City College has identified that its customers are demanding more facilities in their room such as Wi-Fi connection and TV etc. Thus, by fulfilling all the demands of its buyers corporation can meet the need of its current stakeholders (Ryan, 2014). Furthermore, with the help of research firm can also determine the demands of its employees as well as suppliers. Additional, with the use of marketing, firm can develop a very different range of target customers which can later on be termed as stakeholders of enterprise. Thus, by complying with the given type of activity only Bournemouth City College can meet its objective in an effectual way.
Bournemouth City College basically provides accommodation facility to the students and professionals. Hence, the firm belongs to the hospitality market or the sector. Herein, for the purpose to determine the current position of the cited company, assistance can be taken from the tool such SWOT analysis (SWOT analysis, 2016).
The strength of company entail about the current position of Bournemouth City College. Herein, it has been identified that with an aim to gain success in market an organisation will require team of talented employees. This is because it is with the help of talented and skilled employees only manager of cited corporation can formulate different type of tactical goal which will assist it in terms of developing its competitive position in market in an effectual way. In this context, it can be said that the success of hospitality firm also depends upon its employee’s performance only.
However, it has been evaluated that with an aim to achieve success in market it is being required by Bournemouth City College that it should make changes in its services as per its target market buyers need. This is because if it is not performed then it will tend to affect the current position of firm in hospitality market.
Besides this, it is evident that mentioned college faces competition from other colleges of country and hence, it affects the market potential as well. Few of the prominent colleges that act as competitors of Bournemouth City College are Bournemouth and Poole College, Arts University Bournemouth, Loughborough University, University College London, etc.
The future position of firm can also be examined through SWOT analysis. In this context, in future Bournemouth City College has an opportunity with regard to open the respective accommodation facility in new market. In this context, organizational objectives of mentioned company can be stated as opening new set of courses that meet with the changing corporate world in the best way. Also, it can aim to offer better exposure of corporate world to students in order to boost their competency. In this respect, company can focus on offering diploma courses as well. Here, at present firm is running its operation in Bournemouth. Thus, in future firm can explore some new market and thus can attract new customers. In this respect, new customers can be students who need to upgrade their skills and competencies on regular basis. Furthermore, firm can also enhance its market share in future by developing completely new target market (Thompson, 2013). In this respect, students that desire to opt for practical courses such as mass media, fashion designing, photography, film direction and other related area can be targeted by the college in future. Here, it is through this way only cited firm can perform necessary improvements in its sales and profits. In addition to this, by fulfilling all the given opportunity cited firm can attain its goal to enhance as well as maintain the satisfaction level of its buyers
Bournemouth City College should make efforts in terms of involving all its departments in the process of developing the marketing plan of enterprise. In this regard, number of departments are assessed which functions within cited corporation. It consists of cleaning department, HR department, logistic, research and finance department etc (Breton and Martín, 2011). These all sections have varied function within firm. For example, with the help of finance department manager of cited firm can assess Bournemouth City College financial capability. Thus, on the basis of given information it can take decision about the type of marketing promotional tool which can be used by firm. For instance, if firm has identified that its financial position is sound then in the given circumstance, it can make use of different expensive means of promotion such as TV and social media website etc. In the similar way, with the help of research department cited firm can get information about its competitor marketing tactic (Entezari, Karimi and Kianfar, 2014). Thus, here by performing necessary changes in the firm’s marketing tactic manager of Bournemouth City College can establish its remarkable presence in the highly competitive market. In this context, positioning of company can be developed by doing aggressive marketing on different platforms. Main elements of marketing will be infrastructure, facilities and classes so that distinctive positioning of company can be done.
A marketing plan is being prepared with an aim to provide support to the cited firm organizational objective. For example, Bournemouth City College has an aim to increase the market share of enterprise by satisfying the needs of its buyers.
The target market of the firm will be students and professionals. Here, firm will target both domestic as well as international student who have come to Bournemouth for the studies. Segmentation: For the purpose to make segmentation, demographic criteria seem most suitable. In this regard, the group of buyers can be segmented on the basis of gender and age. Herein, it is being required by the corporation that it should change its services as per the gender and age of buyers. For example, room facilities should be given as per age of buyers (Sardar and JAIN, 2016). For example, if firm is offering room to the adult or college going students then in the given circumstance it should offer them Wi-Fi facility.
In order to position the mentioned college, focus must be laid on the facility that has been provided by the college. Also, infrastructure and availability of latest technology must be present in the positioning. Further, mass promotion needs to be done by company so that awareness would get increased. In this respect, differentiated image of college will be developed than that of its competitors.
The firm should give all type of services to its buyers in order to maintain their level of satisfaction. For example, firm should give Wi-Fi facility; it must build small library as well as area for playing. In addition to this, in room firm should give high quality mattress which will relieve them from the whole day stress and thus make them prepare for the next day activity.
Bournemouth City College has an objective to increase the market share of the company and thus with an aim to pursue the given goal cited firm should use price penetration tactic. In this regard, at first firm should sale its services at low prices. With the help of given approach firm can attract large number of buyers towards it.
For the purpose to book an accommodation facility, cited firm can make use of its website. This will provide opportunity to the buyers with regard to make the booking for the accommodation from their home only (Xuan, 2014).
Bournemouth City College must use social networking site for making the promotion of the services which is being offered by it. The given mean is selected because with the help of this firm can attract large number of target market buyers towards it.
For the purpose to make the implementation of the above framed marketing plan, cited firm can formulate an effective fund collection related tactic. This is because, for the purpose to place ads in social networking sites and make the arrangement of all the necessary facility in room, manager of cited firm will require sufficient finance. However, with an aim to obtain funds cited firm can make use of both internal and external sources (Rosenbloom and Dimitrova, 2011). This includes taking loan from bank and retained earnings etc. In addition to this, firm should also enhance the capability of its marketing team with regard to place ads in social networking sites. Hence, in order to do the same firm will have to organize training and development facility for its employees. Thus, with the help of given tactics only support can be given to the framed marketing plan.
In addition to it, marketing agency will be hired by company which will be doing marketing activity on regular basis. In this context, two set of marketing agency will be contacted in which one for digital marketing and another for print media. Based on it, sound marketing will be done on varied platforms. In addition to it, marketing team will be developed who will be creating marketing content for colleges on regular basis. This will aid in attaining the organizational objectives of attracting new customers in an effectual manner. For monitoring and control, response rate of marketing will be reviewed and hence, corrective measures will be taken accordingly.
Following steps are assessed with the help of which Bournemouth City College can implement its framed marketing plan.
The marketing plan implementation process starts with the communication. Here, in the given phase manager of cited firm should have to communicate about the frame plan with the other employees. Here, it is through this way only effectiveness of the framed marketing plan will be assessed (Lee and Yoo, 2012). In this respect, marketing manager will be responsible for communicating the plan with staff. In this respect, time frame of 10 days will be taken as communication will be done with each staff present on floor.
Here, on the basis of marketing plan Bournemouth City College must gather different type of resources which may be in the form of HR and finance etc. In this regard, human resources will be sourced in order to develop a marketing team. Further, budget for marketing will be £45000 so that mass marketing can be done in an effectual manner. It aids in gathering the attention and time frame for this will be 30 days.
On completing above two mentioned steps, in the given phase firm will work as per the formulated marketing plan. At this stage, marketing plan will be implemented by newly developed marketing team along with the hired marketing agency. This will help in attaining the business objectives effectively.
Bournemouth City College manager can use the tool such as benchmarking in order to track the progress of its marketing plan. For instance, here firm has a goal to enhance its market share. With respect to benchmarking, college can set a benchmark target of approaching at least 100 new students per week on the basis of aforesaid marketing plan. If this target is not attained then rectification needs to be made in order to fill the gaps in the desired manner.
Hence, if on implementing the marketing plan it has been assessed by the cited firm manager that it is going on to the right direction in terms of the organizational objective then, in the given situation effectiveness of the framed marketing plan will be accessed (Ferdous and Hossain, 2011).
But, in the reverse condition firm can make necessary changes in the existing plan and thus direct the efforts of firm’s marketing team towards the right path.
Bournemouth City College has an aim to raise the market share as well as maintain the satisfaction of its buyers. The given goal will be met through the promotional tools such as social networking site. With this, more customers will be attracted towards company and hence, awareness would get increased through it. However, follow up and monitoring need to be done on regular basis so that overall efficiency of the firm can be enhanced in an effectual manner. By using this cited firm can attract the targeted buyers and thus meet its goal of raising the market share. Thus, the framed marketing plan is effectively meeting the firm’s objective
It can be stated that by employing proper and effective marketing tool, organization can attract large number of buyers towards it. Thus, it can make efforts in terms of increasing its sales and profits in an effectual way.
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