MKTG6002 Marketing Plan Assignment Help

MKTG6002 Marketing Plan Assignment Help

MKTG6002 Marketing Plan Assignment Help

Executive Summary

This program has discussed a proposed marketing plan of HCT for the purpose of marketing the products and services offered by the organisation. The business factors and their impact on the performance of the business have been analysed with the help of analysis of the macro and micro environmental analysis. Strengths, weaknesses, threats and opportunities of HCT have been analysed with the help of SWOT analysis. The marketing objectives and the strategies have been defined which HCT is planning to achieve with the application of the strategies.

Introduction

This program has been prepared for the development of a marketing plan so as to analyse the different aspects of the marketing plan of a business. This marketing plan includes analysis of the macro and micro aspects or factors of business environment which affects the operations of the business. Other analyses which will be done for the analysis of the performance of the business include SWOT, business performance analysis and Segmentation and target market. Marketing objectives and the marketing strategies of the business will also be discussed

MKTG6002 Marketing Plan Assignment Help

In this assignment we are going to evaluate a marketing plan for HCT group, a UK based company as discussed in assignment number -1, HCT group is a social Enterprise which was found in 1982 that provides a transport service to charities, community groups and local voluntary organizations. HCT group is a social Enterprise involved in the transport industry. It started its business in 1982 and achieved a turnover of 202,000 pounds 1993. In the beginning, it had a handful of employees and a couple of minibuses which has now turned into 800 employees, 10 depots, the fleet of 500 vehicles, and a turnover of 44 million pounds.

Macro- environmental analysis - Pestle analysis

There are various factors to be considered before providing any practical suggestions like internal and external environment, social, political and environmental factors. Let us study all these factors one by one.

Let us know understand the internal environment of the company. The internal environment of the company involves the stakeholders. The company should remove the people who are inefficient in the working and try to make the organisations more efficient. There are various other options with the company to increase the efficiency level so as to provide better services to their customers. They should analyse they're a value of the vehicles, if the vehicle is obsolete then in such case the company should not use such vehicle (Burns, et. al. 2014). The company should analyse the efficiency level of the employees and compare it with the employees of the other company. The best way is that the company to know whether the companies employees are working efficiently or not a company should also make various budget and analysed such budget with the actual position so as to find the deviation if any and then such deviation should be analysed so as to rectify and improve the services provided by the company and it would lead to a better and comfortable world class services by the customers.

Now let us analyse the external environment of the company the external environment consists of the competitors and the public who uses the services of a company. The company should try to give better services to the public as compared to the services provided by its competitor. The main aim of the company should be to provide world-class services to the customer the company should understand the competitive strength weakness opportunities and threats of the competitor and then also do their own SWOT analysis. There should be an effective analysis of the external environment so that they can find various other opportunities to succeed in the competition (Burns, et. al. 2014). A company should aim at providing more and more different variety of vehicle facilities to the public as per your requirement and they should get a feedback from the customers, that would enable to know about their services so as they can provide better services to the customer.

Let us now understand the impact of Political, economic, social, technological, legal and environmental impact on the business of HCT group.

Political Environment: the UK acquires fair and stable political condition that is in favour of the transportation sector. An organization is required to analyse its political environment so that it can work in an effective manner. The political environment has plenty of opportunities for the transport operators. A proactive government of United Kingdom’s have made opportunities of the organisation of transportation to grow and enhance their business. A company should try to use such political opportunities (Festa, et. al. 2016).

Economic Environment: In the analysis of financial environment the company is required to understand the current financial structure of the company and the company should analyse is the factor if the company is in requirements of the fund. the company is required to invest in the global market the company should raise funds through issue of equity or debt instrument the company should also find various other areas where the company can expand their businesses so as to earn more profit leading to a more contribution to their social enterprises in this factor while analysing the financial sector it is important for the company to understand the requirements of the customer. Funds are the basic necessity of any sort of business (Elliott, et. al. 2014).

Social environment: As the company is engaged in providing services to its customers who are to the public in general, this is an important factor which the company should analyse. The company should analyse this social environment to analyse the services provided by them. It is the moral responsibility of the Company engaged in the transportation sector to take care of level of comfort for the public. After analysing the factory company should try to improve services against which complaint made by the customers and the company should also try to understand and be needs and requirements of the customer (Elliott, et. al. 2014).

Technological factors: technology is a crucial aspect which affects the performance of the business at a huge level. Change in the technology affects the effectiveness of the business in dealing with the factors of the business environment. HCT need to analyse the technological factors so as to incorporate these changes in the business for enhancing the performance of the business.

Legal factors: legal framework bounds the operations of the business so as to ensure the execution of the operations of the business in a legal and ethical manner. HCT need to consider the legal factors for the execution of the operations within the legal framework.

Environmental Factors: It is also very important factors to be analysed. An organisation should understand its environmental factors so that he can survive in the environment very easily. Transportation business environment plays a critical role. Quotation deals with the environment to get better opportunities to enhance their cultural and economic welfare. After analysing the environmental factor the organisation is required to find different opportunities. The better environment gets better opportunities for the organisation to grow. By creating a better environment the organisation is required to give better services to the customer (Festa, et. al. 2016).

Micro-environmental analysis

Competition: There are various other bus services in London and other areas. The company has a tough competition with other companies. As the company is engaged in social enterprise serving the common public, in general, like to ride in the vehicles of the company. It is the only company in the London which provides a facility for transportation of the old age people and the weaker sections at very low cost, the company also offers a variety of range of its products to the customer, like Red bus services, Mainstream bus services, School/college transport, Capital Call, Accessible coach hire, Your Car, Bristol Car Club, Dial-a-ride/Access Bus, Mobility scooters, Transport hub services (Babin, et. al., 2014). These other bus services provide competition for the business and affect the performance of the business.

Employees: The Company provides employment to uneducated people by training them. The company also provides vehicles for many other sections like schools, college’s, service sector people, old age people and many other sectors of people. The company provide an individual vehicle system for the weaker section at a very low price. The company aims at providing the best services of the transportation to the public. Profits earned by the company from the commercial business is then utilised by the company for the social and economic welfare of the society. The company aims at making the lives of people more comfort and luxury while travelling through a public transport. A company has tried and in to provide a habit of public transport to the people of London by making more and more facilities of the different variety of vehicles so as to reduce the habit of using individual vehicles (Babin, et. al., 2014). 

Market: There are various other markets for buses wherein HCT group can enhance the opportunities. They should aim at providing the bus services at a global level by enhancing opportunities and investing their funds in various other countries like Canada, China, India, where the population of the people are huge and the opportunities of the sectors are beyond limits. The company should invite funds by making a public issue and investing such funds to increase their opportunities in the global countries. There are many countries which require a world-class public transport facility and they lack in such case. A company should try and make more opportunities so that we can earn more and invest in the social enterprises (Brooks & Simkin, 2012).

Business performance analysis

The organisation before doing any Research is required to understand the principles and methods which would lead to a better environment. An organisation is required to research upon its current position and then they should evaluate the position of its competitor and find the strength and weaknesses, opportunities and threats of the competitors to the organisation. The organisation is that required to assess the deviation from the competitors. The main objective of the research is to understand the opportunities of expanding the business, the organisation after a search is required to make future plans and then required to implement such plans and at the last stage it is required to evaluate such plans after implementation (Wong, et. al., 2011).

The basic means of research to the understanding the system and environment of the organisation by evaluating its internal and external environment the organisation is required to reassess upon the four P's marketing mix to analyse the organisational environment, place of the organisation should be near to the customer, the price of the product should be reasonable enough so that it does not affect the pockets of the consumer, there should be a wide range of product according to the needs and objectives of the customers, the organisation should use effective means a promotion life advertisement, publicity and social communication so that it could be easy to communicate users about the product and its features (Wong, et. al., 2011).

The organisation is required to understand the result of the search and evaluate the impact of such research on the organisation. The organisation should take steps on the deviations found on their Research and then the organisation is required to make plans accordingly, the system of the organisation should be changed according to the needs of the customers and its design. A broad definition of research is given by Godwin Colibao - "In the broadest sense of the word, the definition of research includes any gathering of data, information and facts for the advancement of knowledge” (Zikmund, 2011).

SWOT analysis

SWOT analysis is done for the purpose of analysis of the strengths, weaknesses, opportunities and threats which can influence the performance of HCT. These strengths, weaknesses, opportunities and threats are discussed below:

Strengths

Weaknesses

The financial condition of HCT is good which enhances the quality of the services offered by it to its customers.

HCT group is having a wide coverage area in which it is offering services to the customers.

Lack of effectiveness in the employees can affect the performance.

Lack of effective strategies can also affect the performance.

Opportunities

Threats

Tourism in the UK is increasing which provides the opportunity to HCT.

Increasing competition can affect the services offered by HCT.

The employees need to be trained so as to ensure that the activities are carried out in an effective manner.

Segmentation and target market analysis

HCT group is operating its activities in the transport industry of United Kingdom with a motive to enhance the quality of the services and providing safe travelling experience to the passengers. It is offering busses ranging from London red bus to social services transport, school transport, park and ride, community transport and education transport. It is offering these services to the middle-class people of United Kingdom so as to ensure that they are travelling with cost-effective and safe. Different age groups are being targeted for the purpose of providing services.

Marketing objectives

HCT group exist to serve society. Their dream is to ensure people's life and provide opportunities to people. The main mission of HCT groups to earn more profits and utilise such profits for the social Enterprise purposes. The company aims to provide more vehicles to ensure the safety of old age people. The mission of the company is to bring people and community together through transport and training, the mission is to be achieved by the company through taking the advantages of the opportunities available to the company. Transportation is a means by which the society can aim at achieving jobs opportunities, education and various other facilities. The company provides 200 million passenger trips on their bus every year (Brooks & Simkin, 2012).

The objectives behind the marketing plan of HCT group are to enhance the brand name by spreading awareness among the passengers in the United Kingdom, enhancing the travelling experience of the passengers and providing them with a safe and cost-effective service. Another marketing objective of HCT group is to attract new customers towards the business and the services offered by the business and entering into the new market on a local and international level. The company's vision is to provide world-class services to its customers, enhance more business opportunities, provide employment to people, and provide transport facilities to the old age people. His vision is to provide and social enterprise services to the in general. The company aims to open more depots in the rest of UK. Also, the company aims at globalisation (Brooks & Simkin, 2012).

Marketing strategies

In this part of the marketing plan, we are going to understand the impact of applicability of marketing mix on the consumers. What do you mean by marketing mix? The marketing mix is a marketing management strategy which involves a critical analysis of marketing environment. The organisation needs to understand the 4 P's marketing mix. There are various other marketing management strategies which would lead to an increase in the profitability of the organisation, an organization is required to analyse such factors and utilise such management strategy (Gudmundsson, et. al. 2011). The organization is required to understand skills available with their organisation after highlighting the skills it is required to analyse the development areas where the skills so can be applied. There should be an effective consideration while selecting the requirements of the skills for a particular sector.

The knowledge and skills of the organisation are to be utilised to make more profitable options to be the company. It is an important factor the organisation should use these factors to create more opportunities for the organisation. The organization should have the knowledge of all the fields discipline. The organization is required to make full utilisation of the resources (Gudmundsson, et. al. 2011).

Marketing mix

In this Para, the organisation is required to assess the marketing mix plan for the organisation. The market mix plan consists of 4P’s and they are a place, promotion, product, and price late us study all these factors in detail.

Product: Product is known as the face of the company, so the product or services provided by the company should be of good quality and that of the satisfaction level of the customer. The product provided by the company should satisfy the need and the requirements of the customer. The product should be designed in a manner which fulfils the desire and need of the customer. Products can be further divided on the basis of use, on the basis of durability and on the basis of tangibility. In the case of the transportation company, the organisation is required to understand the needs of the customer and design their products accordingly (Kotler & Keller, 2016).

Prices: In this strategy, the company has to make goals to reduce the cost of the product by improving the manufacturing and efficiency of the work in the organisation and the most importantly the marketer needs to increase the value of the benefits of its product to consume by the consumer. As the organisation is working for a social enterprise objective the organisation has to keep its prices at a stagnant level so that everybody can afford to travel in this transport vehicle. The organization is also required to assess the price level of other competitors and respond accordingly. There are various factors on which price of goods and services are dependent on cost, demand, competition, marketing, objective and government regulations (Kotler & Keller, 2016).

Promotion: When the product is manufactured with good quality, better pricing and are sold in a place near to the customer’s  requirement, the company may not make profits until the customer is aware of the product, its features, its pricing motion is one of the key factors of marketing it in involves advertisement, publicity, personal selling and sales promotion. The organisation is required to assess the way it wanted to promote its product the organisation should make corrective actions to improve the image of the product, in the case of transportation companies like HCT group the organisation is required to declare the social enterprise objective of the organisation to the common public so that they can understand the importance of travelling in the company's buses (Mukherjee & Shivani, 2016).

Place: Place is also known as a channel from where the company operates. The place should be selected such that it should be near to the customer approach the customer can easily approach to the product and services of the organisation places from where the goods are distributed by the manufacturer to the customer, in the case of HCT group the organisation needs to evaluate the best routes from where they can acquire more customers to travel in there buses. Evaluation of the ways is the important factor for the transportation industry (Mukherjee & Shivani, 2016).

Communication approach

Effective communication implies that this should not be any communication default in the organisation. Communication plays a very important and vital role in the growth of an organisation there should not be any communication gap in the organisation, the organisation is required to understand the importance of communication. In case of HCT group, there should be effective communication as per the needs and desires of the requirements of the customer. Effective communication would lead direct growth to the organisation if there is an effective communication between the operational level and executive level of an organisation this increases a chance to grow for the organisation. The organisation is required to make the system of direct communication between the operational level and executive level and there should not be any communication gap between the organisation and their customers (Nakhchian, et. al., 2012).

Bad communication between the organisations would lead to adverse effect on the growth of the organisation. Communication in simple terms is transferring the information from one person to another in clear terms. Although it is a very simple definition when it comes about actual communication it becomes very complicated to decide what words should be used to give a sentence a simple meaning the ineffective or poor communication leads in an organisation to a low level of efficiency. Well, communication in the organisation whether return or oral, obstruct the efficiency of the organisation which would ultimately result in its profitability. The organisation like HCT group is required to have direct communication with its drivers and is required to understand what difficulties are faced by the customers and their employees (O'Driscoll, 2010).

Conclusion

The organization needs to fix accountability of the work to every employee. Any discrepancy found in such work shall be accountable to that person who has been given the responsibility of such work. The organization should understand the responsibility of each of the employees and their work. Even employees should understand there is responsibility towards a work. Every employee is required to make certain accountability treatment as per their requirements, the organisation needs to understand the importance of accountability and people need to convey the ideas for more better of the society.

In case of HCT group, the organisation should fix the accountability of its employees the organisation shall take responsibility for employees and their employees work done. An organization has to fix the accountability according to the qualification of employees. The organisation also has to give some assistance to the Employees for their performance. In the case, if the organisation has not fixed accountability and in that case, if there is any deviation from the expected the organisation could not fix any accountability of such default.

Reflexive activity

The provided marketing plan for HCT organization is adequate for its competency and health. As they make use of the marketing mix in the effective manner that helps in implementing their plan in an effective manner. As per marketing mix, there are four factors that get focused on them such as Product, Price, Place and Promotion. According to the first element, Product HCT need to enhance the level of quality of their respective products or services. It is essentially important for the purpose of attracting the number of customers. The products/services of the HCT organisation are effective enough due to which the number of customers makes use of their transport services.

After it, there is the huge requirement of setting adequate prices for their respective services rendered to their customers. HCT is highly focused on improving their overall quality of their services as it helps in reducing the total cost of their services so that they efficiently lower down their prices in order to facilitate their customers. With the help of high-quality low prices services, they become efficient enough to attract the number of customers. After setting prices as well as enhancing the quality of the services it becomes important to make their customers aware of their services. In order to make them aware there is the effective requirement of promotional activities, for this purpose they make use advertisement, sales promotional activities and much more in order to aware their respective customers. Although by rendering high-quality services at low prices many of the customers make their mouth publicity that helps in capturing the huge market. It is because mouth publicity is the best promotional activity and it is made free of cost and helps in getting the competitive advantage over their respective customers.

HCT is performing from last many years and attaining known place from where they operate their business activities. In order to get the success, it is very important to get located at the adequate place which is easily reached out by everyone. HCT organisation renders transportation facility from such place which is easily approachable by everyone so that their products are highly consumable by their respective customers. Their market plan of rendering quality services at low prices from their native place is effective enough. There are various reasons behind this is they are performing from the same place from last many years along with this they didn't compromise with their service quality. With the increase in competition due to globalisation there might be the change in their prices as they get increased along with this they also increase the level of their service quality.

Along with this, they build up effective level of communication with their customers that help in resolving their lot many issues related to their services. They give preference to resolve the customer problems or issues at priorities and the motive behind make them satisfied first. The reason behind building adequate communication level with customers is to make them satisfied with their services whether it is transported services or customer relationship services. By doing this they effectively increase customer satisfaction level and render adequate support in the execution of their marketing plan in a successful manner.

References

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Brooks, N., & Simkin, L. (2012). Judging marketing mix effectiveness. Marketing Intelligence & Planning, 30(5), 494-514. doi:10.1108/02634501211251025

Burns, A. C., Bush, R. F., & Sinha, N. (2014). Marketing research (Seventh international ed.). Boston, Massachusetts;Boston;: Pearson.

Elliott, G., Waller, D., & Rundle-Thiele, S. (2014). marketing (Third ed.). Milton, Qld: John Wiley and Sons Australia.

Festa, G., Cuomo, M. T., Metallo, G., & Festa, A. (2016). The (r)evolution of wine marketing mix: From the 4Ps to the 4Es. Journal of Business Research, 69(5), 1550-1555. doi:10.1016/j.jbusres.2015.10.015

Gudmundsson, J., Morin, P. & Smid, M. (2011), "Algorithms for Marketing-Mix Optimization", Algorithmica, vol. 60, no. 4, pp. 1004-1016.

Kotler, P., & Keller, K. L. (2016). Marketing management (15, Global ed.). Boston: Pearson.

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Nakhchian, A., Ome Kolsom Zeraatgar Boorani, & Gorji, N. (2012). Overall profitability of companies depending on optimal use of the marketing mix (4Ps) (McDonald's case study).Interdisciplinary Journal of Contemporary Research in Business, 4(7), 876.

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Wong, H. Y., Radel, K., & Ramsaran-Fowdar, R. (2011). Building a marketing plan: A complete guide (1st ed.). New York, N.Y: Business Expert Press.

Zikmund, W. G. (2011). Marketing research (2nd Asia-Pacific ed.). South Melbourne, Vic: Cengage Learning.