Essays on Task to develop your knowledge, understanding and skills: e.g. Research skills, Group working skills, Cognitive ability through critical analysis skills, writing skills, and the application of marketing concepts Term Paper
Research skills, Group working skills, Cognitive ability through critical analysis skills, writing skills, and the application of marketing concepts Name
It is very important for all companies involved in business transactions to adopt a given strategy to enable the business run successfully. As noted in this book, perfect competition in the current economy requires proper ways to be followed in the breaking out of commodity status so as to meet the needs of customers in a better way as compared to other competitors (Ferrell & Hartline, 2011, pg1). In this context, we are going to focus on the things that should be included in the marketing plan of Chelsea football club in connection to the objective, mission statement, social mission strategy, economic strategy, marketing structure, situation analysis and the customer target.
The objective of this paper is to come up with strategies that the Chelsea football club should develop and implement so as to register proper results in terms of profits. This is because all the organizations that are meant to make profits require planning system that is more effective so as to satisfy the needs of other stakeholders and the customer s (Ferrell & Hartline, 2011, pg 1). As it is in this case, the customers are mostly fans supporting the club. However, the manager should also seek for better ways of expanding the business to cover a wider area.
Mission statement states the type of business in which the organization operates explaining the reason for existence of such business. The statement identifies the position of the firm and its operation philosophy that are basic; it also clarifies certain important things such as the types of customers, the ethics, values, and business beliefs. The mission also indicates the core competencies, competitive advantages and the business responsibilities towards the customers, environmental resources and the financial matters (Ferrell & Hartline, 2011, pg 33). Therefore the Chelsea football club should come up with a good mission that would help it propel its activities forward since it installs the cornerstone for marketing plan development.
Social Mission strategy
The business should be operated in a manner that the central role played by the business in the society is recognized. This can be done by initiating ways that are innovative so as to improve the life of individuals locally, nationally and even internationally. When the club adopts the social mission, it might record high profits due to the fact that many people around the world would support the club.
In order for the club to carry out its operations on a basis of sustainable financial activities so as to realize high level of profits, it has to increase the value of the stakeholders. In addition to that, the company also has to expand the opportunities for the development and growth of career among the employees such as players, managers, doctors and couches who are highly skilled (Ferrell & Hartline, 2011, pg36).
The business should have a marketing plan that is comprehensive, flexible, consistent and logical. The purpose of having a comprehensive plan is to ensure that no important information is omitted while flexibility ensures that modification purposes for fitness is allowed so as to match the situation. Consistency in a business plan ensures that executives and the employees outside the marketing are able to understand the planning process and the marketing plan. The plan should be logical so as to avoid the top managers from underfunding or rejecting the marketing plan (Mcdonald, 2011, pg41).
Action plan and forecast
The business should have a proper budget allocation concerning all the expense of the club. The products that are distributed to the fans such as T-shirts should be on affordable price to the customers. The means of promotion used should also be efficient so as to reach many customers at a lower cost; the distribution method should also be more effective. Under the forecast, the club should produce products of high quality so as to attract many buyers.
Situation analysis and the customer target.
The business should also focus on the situation analysis since it summarizes the pertinent information that is obtained from the three key environments; the customer environment, internal environment and the external environment of the firm. The internal environment analysis involves the involvement and availability of human resources, age and the capacity of technology or equipment, financial resources availability and the political struggle within the firm (Ferrell & Hartline, 2011, pg 43). The analysis of external environment involves the external factors that are relevant such as economic issues, politics, technological issues and competition since their effects on the firm can either be direct or indirect. Finally, the customer environment analysis makes a close examination on the current needs of the target market that can either be the consumers or the business (Ferrell & Hartline, 2011, pg43).
In conclusion, Chelsea football club as a business ought to come up with an appropriate marketing plan to enable it come up with great profits at the end of its operations. As it has been discussed above on the paper, the plan should be logical, consistent, flexible and comprehensive to assist in wise decision making. From the paper, it has also been realized that perfect marketing business plan can help a business on a great deal to compete favorably in the market both internationally and externally.
FERRELL, O. C., & HARTLINE, M. D. (2011). Marketing strategy. Australia, South-Western Cengage Learning.
MCDONALD, M. (2011). Marketing plans: how to prepare them, how to use them. Chichester, Wiley.