Download - ORM Revision, Dec 2012
RevisionORM, Dec 2012
Component 1 (50%) 15 min Presentation
Considering a new product launch perform a marketing plan, using appropriate models and techniques, emphasising the importance of marketing within business plans and strategies; the processes of market development in a dynamic business environment; the role of new technologies and information systems used in marketing strategy and planning.
The presentation content will constitute 75% of the grade with the presentation skills/style constituting the remaining 25%
Component 1 breakdown
Considering a new product launch …- What’s the new product?
… perform a marketing plan, using appropriate models and techniques (Session 2, part 2)
… emphasising:- the importance of marketing within business plans and strategies
(session 4, part 2)- the processes of market development in a dynamic business
environment (session 5)- the role of new technologies and information systems used in
marketing strategy and planning (session 6).
The presentation content will constitute 75% of the grade with the presentation skills/style constituting the remaining 25%
Presentations
THINK
BREATH
SPEAK
REHURSEAnd absolutely, positively, always remember to:
Component 2 (50%): 3,000 word formal report
With an organisation of your choice, and using HR planning and/or development models, critically evaluate the recruitment, retention, training and learning & development strategies within the organisation; the strategies implemented for positive employee relations, performance management and reward; the H.R performance monitoring techniques used with recommendations for the organisation to enhance the efficiency and effectiveness of these operations.
The report will constitute 100% of the grade for this component; the marks are allocated as follows:- Presentation and structure 10%- Content 50%- Use of theory 20%- Recommendations 12%- References (Number and variety) 8%
Component 2 (50%) breakdown
With an organisation of your choice, - What’s the organisation?
… and using HR planning (session 1) and/or development models, critically evaluate:- the recruitment session 2- retention session 2- training and session 2- learning & development session 2
strategies within the organisation the strategies implemented for:
- positive employee relations session 3- performance management and reward session 3- the H.R. performance monitoring techniques used session 3
with recommendations for the organisation to enhance the efficiency and effectiveness of these operations.
Useful Models & Diagrams
Marketing / Corporate Strategy Interaction
Corporate StrategyAllocation of resources across the organisation
Portfolio of activities for the organisationSpecifying the organisation’s mission
Defining organisational objectives
Marketing StrategyCompeting in a product market
Selecting markets and segmentsDetermining the marketing mix
Brassington and Pettitt, 2006
GuidesDirects
ControlsCoordinates
InformsAchieves
Operationalises
Influences on Marketing Strategy
Marketing Strategy
Brassington and Pettitt, 2006
Attitude to risk and change
Market structure and opportunities
Competitor strategies
Organisational objectives and
resources
The Four Ps … Satisfying Customer Needs
PRICECosts
ProfitabilityValue for moneyCompetitiveness
Incentives
PLACEAccess to target market
Channel structureChannel management
Retailer imageLogistics
PROMOTIONDeveloping communications
mixesAdvertising management
Sales promotion managementSales management
Public relations managementDirect marketing
PRODUCTNew product development
Product managementProduct features / benefits
BrandingPackaging
After-sales service
Brassington & Pettitt (2006)
ControlMarketing plans
Actions
GoalsOutcomes
Compare Outcomes with Goals
Analyse deviations
Solve problems Exploit success
Learn and revise
Brassington & Pettitt (2006) – ref above
PESTEL analysis of the externalenvironment (usually macro environment)
Variable Construct Effect (+/-)
Political (write as many points in this column as are appropriate)
Economic
Social
Technological
Environmental
Legal
(write the factors affecting in the boxes, then write up a brief summary)
Porters Five Forces analysis of the competitive environment (usually micro environment)
Threat of Substitutes
(How easy is it for customers to substitute the company?)
Existing Rivalry
(Competition – direct, indirect, differentiation)
Customer Bargaining Power
(How much bargaining power do the customers have?)
Threat of New Entrants
(How easy is it for new companies to enter the market?)
Supplier Bargaining Power
(How much bargaining power do suppliers have?)
(write the factors affecting in the boxes, then write up a brief summary)
Porter’s Generic Strategies for a strategic review
Competitive Strategy: Techniques for Analysing Industries and CompetitorsPorter, M, 1980.
Principles of MarketingBrassington & Pettitt, 2008
Cost Leadership DifferentiationSegmentation (aka: Focus)
As an organisation, adopt one of these strategies to “provide the direction for subsequent operational decisions, including marketing” (Porter, M)
The expectation is that “the vigorous pursuit of the chosen strategy will create a sustainable competitive advantage” (Brassington & Pettitt)
Choosing a generic strategy
The choice of generic strategy depends on: “The fit between the demands of the strategy and the organisation’s
capabilities and resources. “The main competitors’ abilities on similar criteria. “The key criteria for success in the market and their match with the
organisation’s capabilities.”
Assuming the organisation has a free choice of strategies, it should consider its sources of advantage: Skills – of key staff (eg: R&D, selling, quality assurance, &etc). Resources – in terms of level and deployment (eg: promotional spend, R&D
investment, financial reserves, production facilities, brand strength &etc). Relationships with suppliers and customers – in terms of quality and long-
term sustainability.
“Whichever strategy an organisation chooses, there must be ruthless commitment to it”
Principles of MarketingBrassington & Pettitt, 2008
Marketing Mix
Element Possible Considerations
Product
Price NB: elasticity and perceived customer value
Promotion MarComms mix: ads, PR, DM, personal selling, sales promotion
Place Distribution strategy
and, when marketing services:
People Because they are vital in services
Process The way in which the service obtained
Physical Evidence Where the service is being delivered
0Revenue
Time
Introductory stage
Growth stage
Maturity stage
Decline stage
Industry sales
Industry profits
Product Life Cycle (PLC)
Managing product profitability using the PLC
PLC Stage Description Price Promotion Distribution
DevelopmentResearch, no income or sales.
High cost- Product testing and development.
Only test marketing. No real advertising yet.
Source distribution channels.
Growth-Sales increase-Some profit.
- Lower prices- More competition and economies of scale.
Aggressive attacks from comp.-High advertising budget.
Intensive push and pull activities.Seek as many channels as possible.
Maturity/Saturation
-Sales slow down.-Competition.-Modify product and re-position to send product. Back to growth stage.
-More cost cutting. -Intense promotional activities lengthen life.-Advertising to keep market share.
-Keep existing channels and try and obtain competition channels.
Decline
-Sales decline.-Less profit.-Obsolesce or re-positioning.-Phase it out, run it out or drop it.
- Decline. Try and sell last stock.
-No advertising, but big promotions.
-Push strategies and promotions to sell last stock.-Focus on only a few distributors.
In general:• Retain and maintain existing products so that they continue to meet their
objectives.• Modify and adapt existing products to take advantage of: new technology,
merging opportunities or changing market conditions.• Delete old products close to the end of working lives.• Introduce a new flow of products to maintain/improve sales and profit
levels.
BCG’s Growth Share Matrix
Largenegativecashflow
Low
2
4
6
8
10
12
14
16
1820
High
10x 1x 0.1x
High LowRelative market share
STARS QUESTION MARKS (problem children)
CASH COWS DOGS
Modest+ or -cash flow
Largepositivecashflow
Modest+ or -cash flow
Optimum
cash
flow
SO
UR
CE:
Ad
ap
ted
fro
m H
ed
l ey (
1977),
p.
12
Mark
et
gro
wth
SWOT analysis
Opportunities Threats
Strengths Weakness
inte
rnal
fac
tors
exte
rnal
fac
tors
McKinsey 7S Model
Shared Values(inside the
organisation)
Staff(What sort of staff does the
organisation employ?)
Skills(What sort of staff
skills are required?)
Structure What is it (flat?
hierarchal?) and what would be best?
Strategy(What is the
organisation’s strategy?)
Systems(Which systems are in place to
measure effectiveness?)
Style(What is the leadership
style?)
For organisational success, the seven elements above need to be aligned and mutually reinforcing. The model is used to identify which of the elements needs to be brought into line.
The model can be used to help analyse a current, or possible future, situation. It can also be used to analyse both current and future situations, with a gap analysis to see what needs to be improved.
Aspects of a brand
Brand Value What aims and values do you want associated with the brand?
Brand Vision What is your vision for the work that the brand should do?
Brand positioning How is brand positioned (against competitors)?
Brand purpose What does the brand actually do?
Brand Equity Is there one core aspect of the brand which can be used to increase brand equity?
Brand Personality What is the personality of the brand?
Writing Style
Why & Does Writing Style Matter?
Writing is about the communication of ideas
If your writing is difficult to understand:- Your ideas will be unclear- Your ideas will not be understood- Your audience (the people who grade your papers) may
penalise you
Understand your target audience!- What’s the average time spent grading a paper?- How exciting is it to grade a paper?- So: Make it easy for the assessor to give you marks
Structure
Headings and Subheadings- Break up the text- Aid reader understanding- One subheading per topic
Paragraphs- Treat like mini subheadings- Keep them short (2 – 4 sentences)
Sentences- Keep them short (know what you want to say, and say it!)
Avoid comma clauses if you can Stay within the set word-counts (+/- 10%) Reference quotes accurately using the Harvard style Use the spell check! Get someone else to read your assignment for sense
Don’t be afraid of white space on the page!
Pace & Movement
Written communications should ‘flow’- Beginning, middle, end
Written communications should have ‘pace’- Where appropriate, use active verbs which show that their subject is
‘doing the action’ This usually ‘saves’ words, which is useful when writing to a hard
word-count