Information Gathering, Organizational Policies, and Procedures Considered When Planning Marketing Activities - Assignment Example

Name: Tutor: Course: Date: PART A: REVIEW QUESTIONS 1. Successful marketing should be a win-win situation for customers and the business. The business will make sales and profit while the customer will get the value for money. Marketing strategies should appeal to the customer as genuine desire from the company to get quality and tested services or products (Du Plessis, 65). 2. a) A marketing activity is an event that attempts to persuade a customer to buy into a service or a product. Examples of marketing activities are online display of products or services, road shows and erecting tents in strategic points or during events. b) Resources are tangible, human and intangible assets possessed by the business and emerge from investments. Examples of resources in marketing are knowledge and information, relational resources, legal, reputational, human and financial resources. c) A work activity plan is a schedule that shows tasks, deadlines or durations, responsible persons and amount of human and capital resources allocated. Examples of work activity plans are road shows activity plans, market activation plans, and online marketing schedules. 3. a) Marketing Information System (MkIS) is a system that gathers marketing data, then analyzes, stores and distributes to managers depending on their regular information needs in order to support marketing decision making. b) The success of MkIS is determined by three factors namely; system quality, customer information quality and organizational requirements. 4. a) Information gathering during marketing activities is important. Some of the information gathering needs are; i. Size of consumer population-To know the quantity of production and marketing budget ii. Type of brands and their quality in the market- To understand the quality of the prospective products iii. Number of competitors and their market size-To understand how to compete and outweigh competitors iv. Type and size of the target market – To know the segment and address their needs effectively v. Demographic characteristics of the target market- to understand the age, gender, education etc of the target market b) Reviewing past marketing activities is important in learning and future planning of marketing activities. Past activations and road shows provide a baseline for customer needs, size, their purchase intentions, tastes and preferences and demographics. Gathering such data will help in planning for production, distribution and shipping (Mathwick, et al. 55). 5. a) Organizational policies and procedures considered when planning marketing activities i. Stakeholder analysis policy ii. Goals and objectives policy iii. Marketing research and analysis policy iv. Marketing plan policy procedure v. Situation analysis policy procedure vi. Vision and mission policy vii. Strategic team policy procedure b) Legislative acts considered when planning marketing activities i. Advertising to children act ii. Business protection from misleading advertising iii. Data protection act on e-marketing 6. Planning for marketing activities SMART goals mean; S-Specific, M-Measurable, A-Achievable, R-Realistic, and T-Time bound. SMART goals are used because they determine the business goal and marketing activities to be used. Goals are also a basis for planning, implementing and reviewing marketing activities as to whether they were accomplished or not (Seiders, et al. 28). KPIs are Key Performance Indicators that measure the extent at which an outcome was achieved. For example, customer reach can be measured in terms of number of pamphlets or flyers distributed or number of customer traffic to the company website. KPIs indicate the metric or measurability of the intended outcome. 7. Marketing activities requires teamwork. Selecting a team to perform certain tasks is dictated by level of skills, education and experience. Choosing the right person should be based on the earlier accomplishment of similar tasks and the suitability for the work (Morgan & Hunt, 22). For example, in marketing research, the best individual to perform analysis and presentation of marketing data should have skills on communication and numerals, working knowledge on SPSS, MS Excel and presentation MS PowerPoint. These tools should also be able to sieve, capture, analyze and distribute data to the relevant authorities such as managers and directors (Sujansky, & Ferri-Reed, 34). Assigning responsibilities means providing the persons with; i. Managerial support and guidance ii. Resources and tools required to perform the roles iii. Remuneration and compensation equivalent to the amount of work assigned iv. Training and skills proficiency if a new employee in the company v. Cohesive group and reliable workmates vi. Guarantee on their health, safety and welfare 8. Developing work activity plans and approvals i. Budget for all the marketing activities need to be approved by marketing head and finance manager ii. Resources such as human resource and vehicles iii. Scope of activities to be undertaken 9. Monitoring and reviewing marketing activities a) Monitoring marketing activities is tracking the implementation and checking compliance to the regulations and laws. Monitoring also helps to compare whether the main deliverables and milestones are being achieved. It also compares the drift and performance of the actual activities from the planned activities. b) Monitoring marketing activities use various tools and resources. These tools include checklists, activity tracking sheets, observation notes and pictures. These tools record the actions and achievements of milestones which could be termed as effective in marketing. c) A review that shows performance gaps should be reported and communicated to the marketing head who will in turn communicate during managerial meetings. The review should also identify the reasons for performance gaps and attempt to pre-empt solutions (Garcia de Madariaga, J. & Valor, 432). 10. Recording the outcome of marketing activities is critical to understanding the outcomes. To determine the actual outcome against the planned outcome is necessary so that lessons can be learned and new actions taken for any future activities (Iyer, et al, 13). For example, if a marketing activity failed to achieve 50 percent of its objectives, then the reasons must be established and an action plan prepared based on the lessons. PART B – CASE STUDY 1. a) The main marketing activity for Hang Toe Surfing is setting up an exhibition stand at the annual Expo convened by the Extreme Sports Expo. Here, the company is able to put up banners, pull ups, distribute flyers and for marketing agents to meet potential buyers or customers. It is also an opportunity to meet other competitors in the market such as Billabong and Quicksilver to exchange best practices. b) The company, Hang Toe Surfing, identified the marketing need through; i. Customer surveys (e.g. Board-Trac surveys) ii. Observations iii. Websites (e.g. www.asrbiz.com) iv. Industry magazines and newspapers (e.g. Transworld) 2. a) The profile of the target market for Hang Toe Surfing Target market Young teens, young adults and their parents Size of population 9.9 million Age 20-35yrs Gender Both male and female Education College and university Occupation College goers, Business marketing executives, middle level employees Income $10,000-$18,000 annually Psychographic factors Like partying and outings, participates in extreme sports, prefers watching sports channels, likes spending leisure with friends on mountain skiing, surfing and other extreme sports b) The Hang Toe Surfing is positioned as ‘premium quality supplier’ of sporting clothing. As a specialty store, it means that the company is willing to pay a higher cost for quality. 3. a) Budgetary allocation decisions needs approval b) The approval of budgetary allocations is done by the Managing Director after analysis and review from the various departmental heads. 4. Outcome: To reach about 5 million prospective clients in the surfing and sports field a) To reach about 5 million sporting teens and young adults in the next three months b) Surveys and observation will be used to monitor progress of marketing activities while review and appraisal templates will be used to compare the actual performance and planned outcomes of the marketing activities. b) A communication plan will consists of mediums such as MS PowerPoint presentation in meetings or e-mails to the heads of departments and to the managing director PART C: PROJECT 1. At Imagine Education, the Diploma and Advanced Diploma courses in Business, Administration and marketing need to be promoted. This is because these courses can now be offered in the evening and that the marketing courses are new which requires awareness creation among the prospective students. Students who are working will have time to attend the evening classes while those interested in marketing courses can now do so. 2. a) To understand the international market segment for the business courses you need to talk to Ben Hutchings while that of the domestic market, Adam Murphy should be approached. In order to know the target audience, you need to talk to Max Andersen because she understands what courses they will take, what fees to pay and the timelines they will take to complete the courses. b) Alumni and placement of former students in the market, amount of fees paid for each course, affiliation and type of degrees with Bond University, duration of each course and units to be undertaken. 3. Market segment for international students taking the following courses; Course Target market The Advanced Diploma of Business Bridging students, company employees The Certificate II in Business High school graduates The Certificate IV in Marketing Graduates from Certificate II in Business, part-time marketers The Diploma of Management (evening course) Working executives and shift workers 4. Assigning specific marketing responsibilities and functions Staff Member Assigned Marketing Function/ Responsibility Reason for this assignment Ben Hutchings Online exhibitions and international mails Ben handles international students who can be reached through online queries and international mailing of admission letters Adam Murphy Market activations and road shows Adam handles the domestic market which can be reached through market activations and road shows in the Imagine Education neighbourhood Max Andersen Marketing information systems (MkIS) and ordering marketing materials such as fliers, pull ups and pamphlets Max understands the details of the courses and should be in-charge of the MkIS in Imagine Education by capturing, storing and distributing data to departmental heads and to the director 5. Planning the work schedule Action Plan for the Promotion of the Imagine Education’s Business Courses Action Responsibility Timeline Resources Convening meetings to discuss courses and who to reach Max Andersen 2nd March 2015- 9th March 2015 Flyers and pamphlets Conducting local roadshows and exhibition in the tradeshow Adam Murphy 20th March 2015- 20th April 2015 Trucks, banners, tents and pull ups, marketing assistants Budgetary review and monitoring of marketing activities Marketing manager 10th May - 20 May 2015 Review templates filled and signed by marketing executives Contacting desktop publishers/ copywriters/ printers/ designing brochures Max Andersen 10th March – 12th March 2015 Telephone contacts, quotations and procurement bill of quantities Discussing budgets Marketing manager 1st March – 3rd March 2015 MS PowerPoint presentations, e-mails Approving budgets Managing director 15th March 2015 e-mail communication, budgets, rationale 6. Measuring and recording outcomes Action Plan for outcomes of Promotion of the Imagine Education’s Business Courses Action Responsibility Timeline Resources Baseline Actual Convening meetings to discuss courses and who to reach Max Andersen 2nd March 2015- 9th March 2015 Flyers and pamphlets 4 meetings, $4000 needed, 1 week duration 3 meetings, $4500 spent, 10 days covered Conducting local roadshows and exhibition in the tradeshow Adam Murphy 20th March 2015- 20th April 2015 Trucks, banners, tents and pull ups, marketing assistants 2 trucks, 5 assistants, 3 tents, reach 2 million people 2 trucks used, 6 assistants, 3 million people reached Budgetary review and monitoring of marketing activities Marketing manager 10th May - 20 May 2015 Review templates filled and signed by marketing executives $25,000 needed, approval based on good progress $15,000 approved, 50% of work in progress Contacting desktop publishers/ copywriters/ printers/ designing brochures Max Andersen 10th March – 12th March 2015 Telephone contacts, quotations and procurement bill of quantities List 5 suppliers, negotiate for good price 3 suppliers listed, negotiation on previous performance Discussing budgets Marketing manager 1st March – 3rd March 2015 MS PowerPoint presentations, e-mails All budgets discussed and approved by one week budget constraints protracts the dates by 4 days Approving budgets Managing director 15th March 2015 e-mail communication, budgets, rationale Budgets approval complete by 15th March 2015 Budgets approved after two days of deadline b) An observation schedule can also be used to capture the response of prospective students and write the opinions of the marketing assistants during the trade show. The schedule simply captures notes and any activity worth noting and presenting to the marketing panel (Alwi, 10). Works cited Alwi, S.F. Online corporate brand images and consumer loyalty, International Journal of Business and Society. 10(2009)2 1-19. Du Plessis, L. Customer relationship management and its influence on customer loyalty at Liberty Life in South Africa. University of Johannesburg. 2010. Garcia de Madariaga, J. & Valor, C. Stakeholders management systems: empirical insights from relationship marketing and market orientation perspectives, Journal of Business Ethics. 71(2007)425-439. Iyer, G.R. Sharma, A. & Bejou, D. Developing relationship equity in international markets, Journal of Relationship Marketing. 5(2006)1:3–20. Mathwick, C. Malhotra, N.K. & Rigdon, E. The effect of dynamic retail experiences on experiential perceptions of value: An internet and Catalog comparison. Journal of Retailing.. 78(2002)1:50-51. Morgan, R.M. & Hunt, S.D. The commitment-trust theory of relationship marketing, Journal of Marketing. 58(1994)20–38. Seiders, K. Vos, G.B. Grewal, D. & Godfrey, A.L. Do satisfied customers buy more? Examining moderating influences in a retailing context, Journal of Marketing. 69(2005)26–43. Sujansky, J.G. & Ferri-Reed, J. Keeping the Millennials: Why Companies Are Losing Billions in Turnover to this Generation and what to do about it. Hoboken, NJ: John Wiley & Sons. 2009. Read More