MMKT501 Marketing Management Assignments Solution

MMKT501 Marketing Management Assignments Solution

MMKT501 Marketing Management Assignments Solution

Assumptions 

Assumptions constitute the basic of the strategies and the underlying assumptions must also be fully addressed. The testing of the assumptions needs allowance of those involved in the planning and challenges for ensuring the scenarios of the base strategies. Assumptions underscore the upcoming challenges assuming the present in  workforce planning. Assumptions in business are difficult to identify in their unconscious belief.

In the current assignment of NQ Employment, the organization targets some of the basic goals like expanding its market size, determination of the share of the market of NQE and analysis of the potential causes for the Townville regions’ absence of placement opportunities. In respect to the aims or the targets of the organization in discussion, the development of the strategic plan includes the proper management of assessments, risks and thee impediments. The business plan of the NQ Employment does not possess the exact knowledge regarding the future and what will happen in the economy and the next moves of the competitors in the market and the changes in the financial markets.

Assumptions are necessary evils and as defined to be something taken for granted, it can be assumed for the NQ Employment that the organization will expand its market share and its territory of services together with the development or formation of new placement units for the other categories of disabled individuals. The strategy report of the organization furthermore assumes the expected strategies for marketing arranging around $50,000 (including GST).

Marketing Objectives and Strategies 

Marketing objectives are the targets that the business organizations set within a targeted framework for the achievement of the marketing strategies. Marketing objectives plays an important role in case of the promotion of services or products. In case of the NQ Employment, marketing objectives are the increase in the staff employment levels, increase in the promotional expenditures to attract new customers, implement some of the major changes in the systems of the job offerings to the disabled people of the community, provision of accessible and high quality placement and the training to the serve health condition but with high qualifications, increase in the advertising of the employment services in the television, social media and in the face to face marketing. The two major marketing objectives of the NQ Employment services is to build it’s brand awareness in the field of training and employment to the person with injury and disability, target new customers in encouraging them to participate n the training programs with the belief that they also can achieve their dreams and are not behind the normal force of workers. Marketing objectives of the NQ Employment services furthermore includes attraction of the new stakeholders to invest in the non profit social welfare organization and improvement of the relation with the existing stakeholder base.

Figure 1; The marketing Mix

The tool of the marketing mix is used for the analysis and the development of the marketing proposal forming the basis of the marketing plan for the promotion of the employment of the individuals with disability, health challenges or injuries. For the explanation of the marketing mix it is important to understand the nature of the services provided by the NQ Employment. The non profit organization specialises n the placement for job opportunities for the persons with disabilities or health challenges. The need for formal marketing plan for the organization is because of the recognition of the social services it is conducting. NQ Employment services requires a format plan for the marketing for letting the people of the community know about the growing opportunities for the disabled persons in the society who have been long discriminated from the opportunity of employment services and from proper education and knowledge trainings.

Some of the main or the current competitors of EQ Employment are JobAccess by the Australian Government, NDRC ( National Disability Recruitment Co-ordinator), Disability Employment Law Services who targets the benefits of their business by effective employment of the people with injuries or disabilities.

1. Macroeconomic factors - The macro economic environment consist of six major factors.

2. Demographic forces – In the context of the employment of the disabled people, the factor of demography is an important aspect which includes the density, the gender, the health ststus and other statistics of the people who serves as the main driving force for the development of the market.

3. Economic forces – These forces relates to the factors affecting the purchasing power and the spending patterns of the people. Factors such as the GDP, the inflation, the unemployment, the discrimination of the disabled people in the workforce are some of the important criteria.

4. Socio cultural forces – These includes the basic values of the society. The stigma, the notion of the discrimination of the disabled individual of the society towards their equal opportunity of employment, training and education forms the basis of the factors for this force.

5. Technological forces – Proper training on updated technology of the disabled workers with the mind set and the myth that the disabled people can serve basic unskilled works are some of the factors challenging the force.

6. Ecological forces – Some of the important trends in the ecological environment includes increased shortage of the raw materials and renewable resources like the will power of the disabled people, the myth encircling the disabled group of people and the social stigmas relating to them.

7. Political forces – Involvement of the laws and the governmental agencies restrict the marketing decisions and strategies of the organization.

Significant influences and issues relating to sustainability

1. Competitive advantages – The NQ Employment ranks top in the market of the non profit organization providing services to the eligible job seekers with injury, disability or severe health conditions.

Customer value – Employing the people with injury or disability is equivalent to employing people with normal attire. People with disability and health challenges tends to build strog relationship with the customers and the clients boosting the morale of the staff members by the creation a diverse work force.

Projected Financial Requirements and Performance 

Marketing Expense 

Percentage of Revenue for Year 

2015 

2016 

2017 

Advertising and Marketing 

1.2% 

1.0% 

1.2% 

Client Expenses 

1.8% 

4.0% 

1.9% 

Wage Subsidies 

4.2% 

6.4% 

3.8% 

Motor Vehicle Expenses 

2.3% 

2.6% 

2.5% 

The company faced a severe loss in the previous year. Thus the organization aims towards factors like non-recurring costs of office fit-outs, computer expenses, adjusted depreciation, and ‘re-evaluating the performance of it’s customer base for the improvement of its recognition and the market share in the competitive market. The organization furthermore aims to perform a marketing audit within the group of disability persons for the determination of the appropriate match with their business.

Conclusion

It can thus be concluded that the purpose of this Strategic Marketing Plan of NQ Employment is to determine how the NQE business can best match the needs of its customers in the next three to five years.  The organization targets to expand its market share and provide premium quality placement services and training programs for the activities that enhance the development of persons with the disability, injury, barrier to employment. The NQ Employment services furthermore aims towards the provision of the specialised services regrading indigenous disability and business strategic promotional campaigns for increasing the performances of the non progt organization.