Incat Marketing Essay
Incat – “Building the world’s best high speed ships”: http://www.incat.com.au/
You may also select one of the examples provided,if you are having difficulty finding a firm for the Assessment –for example, you may be new to Tasmania. You may choose from the following:
Tassal-“Delicious, fresh and healthy Tasmanian Atlantic salmon”: www.tassal.com.au
The Henry Jones Art Hotel–“First class Hobart accommodation”:http://www.thehenryjones.com
Incat-“Building the world’s best high speed ships”: http://www.incat.com.au/
IMPORTANT NOTE:Remember that you are writing this report for your CEO/Board/General
Manager/etc.– it is an internal document.
Incat Marketing Essay
Information for students: Phase 2-Strategies & Implementation
1.Marketing Goal and Objective (NOTE: You should match the firm’s Strengths with its Opportunities,and that minimise its Weaknesses and avoids Threats). Marketing Goal: One sentence ‘overview’ statement.Marketing Objective: More detail is required here. Note that the objective must conform to the SMART framework.
2. Specific Marketing Strategies
a.Target Market Primary target market:
This target’s basic needs: Identifying characteristics (demographics, geography, values, psychographics): Purchasing/shopping habits and preferences: Consumption/disposition characteristics .The Marketing Mix:How will you arrange the Marketing Mix elements to achieve the marketing goals and objectives identified above?
b.The Marketing Mix(Note: Please be VERY specific about your marketing mix discussion –remember that your marketing mix must be a useful guide to action.It is better to be specific about a select few of marketing mix elements than to cover too many elements briefly).Describe the specific ways that the firm can match its relative strengths to its opportunities to create capabilities in serving customers’needs.Are these capabilities and competitive advantages grounded in the basic principles of operational excellence, product leadership, and/or customer intimacy? If so,how are these capabilities and advantages made apparent to customers?
Describe specifically how the firm might convert its relative weaknesses into strengths or its threats into opportunities? If not, how can the firm minimise or avoid its weaknesses and threat? Does the firm possess any major liabilities (unconverted weaknesses that match unconverted threats) or limitations (unconverted weaknesses or threat that match opportunities)? If so are these liabilities and limitations apparent to customers?
3. Marketing Implementation& Control A. Implementation -Tactical Marketing Activities(NOTE: B every specific—this lays out the details of the marketing management process–i.e.how you intend to achieve your stated goal)You are required to pre sent your discussion as a“specificset of instructions”that others could follow for the achievement of your goal(i.e.you are to provide a specific account of what you would have others do).These seven steps noted below are only a guide,and may not be relevant to your particular goal.Specific Steps to Achieve the Marketing Goal Person/Department
Responsible Rationale for the step Control Mechanism
2.Analyse the Data
3.Reformulate the Marketing Mix Elements
4.Test Market the New Marketing Mix
5.Evaluate the Results
6.Launch the Marketing Campaign
7. Market Research
Name the specific position or agency you feel responsible for completing each step. This is the most important information to include in your answer
.Be very specific about what you intend to do in each step
Use the list(inB.below)to determine what “evaluation and control” mechanisms you would employ for each step to ensure it was effective
B. Evaluation and Control
Describe the types and level so‘formal controls’ that will be used to ensure the implementation of your stated goal.(Note: You are not required to discuss informal controls.)
Input controls(actions needed before the marketing plan can be executed)
Additional financial resources needed
Additional capital expenditures needed
Additional research and development expenditures needed
Revised human resource activities:
Employee recruitment and selection
Employee training programs
Employee manpower allocations
Other needed input controls Process controls (actions needed during the execution of the marketing plan)
Management-focused controls:Altered lines of authority/structure (organizational chart)Management commitment to the marketing plan
Management commitment to employees.Employee-focused controls:Altered employee evaluation and/or compensation systems. Enhanced employee authority and empowerment
Organisational controls:Internal marketing and communication programs
Ensuring organisation-wide customer orientation.Output controls(performance standards to be compared to marketing goals and objectives during and after the execution of the marketing plan)
•Overall performance standards(Specific standards will vary based on the goals and objectives of the marketing plan.standards could be set in one or more of the following areas: sales in dollars, sales volume, market share,share of customer, profitability,customer satisfaction,satisfaction metrics, or customer relationship maintenance).
•List potential corrective actions that can be taken if actual performance does not meet these standards.
•Product performance standards(Standards could be set in one or more of the following areas :product specifications, core product quality, supplemental product quality,experiential quality,new product innovation,branding,or positioning).
•List potential corrective actions that can be taken if actual product performance does not meet these standards.
•Price performance standards(Standards could be set in one or more of the following areas:revenue,supply/demand balance, price elasticity,yield management,or out comes of pricing tactics and adjustments)
•List potential corrective actions that can be taken if actual pricing performance does not meet these standards.
•Distribution performance standards(Standards could be set in one or more of the following areas:effectiveness,efficiency, integration, value,collaboration,conflict, outsourcing,direct distribution).
•IMC(promotion)performance standards(Standards could be set in one or more of the following areas:communication objectives,awareness,brand recognition, brand recall, customer interest,campaign reach,frequency,and impressions,public relations effectiveness,sales effectiveness,sales promotion effectiveness).
•List potential corrective actions that can be taken if actual IMC performance does not meet these standards.
•Explain how marketing activities will be monitored.
•What are the specific profit – and time-based measures that will be used to monitor marketing activities?
•Describe the marketing audit to be performed, including the person(s)responsible for conducting the audit
Incat Marketing Essay
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