The paper "SportUNE Marketing Environment " is an outstanding example of a marketing case study. This report has been prepared in continuation of the earlier part on SportUNE and the report here looks to provide an in-depth understanding of the strategic content which SportUNE can look upon its new services and gain sustainable growth of its business. SportUNE marketing environment enables the company to operate as a pioneer in its strategic decisions and emerge as the market leader to further ensure deeper penetration of its services and generate higher revenue.
The various stages of a product life cycle have been clearly explained along with best strategic alternatives which SportUNE can look upon for ensuring competitive advantage and better positioning of its services offered. For example, it can look upon niche marketing and harvesting strategies in its declining stage to ensure maximal gains. The report further makes use of a SWOT analysis to identify the existing opportunities for the university which it can look upon by strengthening its strengths and weaknesses. A cost-benefit analysis along with contingency plan has been discussed to meet situations of crisis.
The organizational structure of the company which is more likely to be a functional one can be replaced by the use of a matrix structure. Furthermore, the marketing metrics and marketing audit have been discussed and conducted in the context of SportUNE to ensure both practical and theoretical understanding of the entire topic under study. Introduction This report has been developed in context to strategic marketing planning of SportUNE which is in continuation of the first part where a discussion has been done on various strategies in accordance to the achievement of mission, vision and objectives of SportUNE along with the creation of segmentation and marketing strategies for the university. This report looks to further make an in-depth analysis of the various stages of a product life cycle and the most appropriate strategic alternative which SportUNE can look upon to ensure a differentiation advantage and further ensure sustainable competitive edge over its existing and potential rivals along with a study of the new market entry of SportUNE and whether the company can look to adopt a pioneer or a follower role as per the currently existing market conditions of SportUNE.
The report along with a discussion on the various strategies and different phases of a product life cycle looks to study the organizational structure and marketing plan of SportUNE along with recommendations to the same to ensure better viability of its business. The marketing metrics has been studied in detail to justify its market spending along with various marketing audit conducted in terms of macro-level, organizational and strategy audit of SportUNE to highlight upon the current performance of SportUNE and recommendations for long term future growth of the company. Product Life Cycle Unlike human beings, every product/services have its own finite life which is the period in which a product/service is initially introduced into the market and is finally eliminated from the market and is termed as “ Product Life Cycle” , which is generally characterised to have 4 distinct and unique stages. The product life cycle begins the first introductory stage where a product/service is brought into the market and the general and unique characteristics of the product/service are explained to its targeted audience to ensure deeper penetration of the product/service into the market.
The introductory stage holds significant importance in deciding upon the long term success of the product and is gradually overtaken by the growth stage. The growth stage of a PLC is the most viable and beneficial stage as profits tend to maximize and market share is increased. Investment is continuously increased to meet the rising demand. However, the product/service reaches its peak and which leads to the maturity stage. This stage is generally characterised by future declining sales as selling opportunities are reduced and new alternatives to the products become readily available in the market either due to the product becoming obsolete or changes in consumer pattern.
Finally, the product/service reaches its last stage which is known as the decline stage (Brassington and Pettitt, 2001). Sales tend to decline at an alarming rate and investments are usually withdrawn or efforts are directed to re-direct the product/service to its growth stage. It is to be further noted that all the aforesaid four stages of a PLC has its own characteristics and a firm can look upon different strategic choices to ensure maximal gain and long term sustainable growth of its business.