Marketing Essay Paper Sample on Principles of Marketing

Overall plan summary

This is a four year plan for the organization to secure additional finances for growth and inform its entire staff about the current direction and status of operations. The organization has experienced high anticipated demand for products and services. Research shows that the potential markets would want to have the services and products offered by the organization. The organization is therefore interested in extending their product and service line as well as adding new product and services to the market.

Moreover, the organization wishes to explore new market opportunities for the organization. It also intends to implement the marketing plan within a four year time frame. It is anticipated that by the end of the four year duration, the organization will have increased the revenues by $ 100000.  The target population comprises working class parents who take a holiday once or twice a year and go to spend it at recreational sites. The organizations have a budget that highlights costs and revenues. The budget is prepared from the information received from the companies that offer similar services as the organization. In addition, the organization has also carried on a SWOT analysis to identify the strengths, weaknesses, opportunities and threats in the market.

Organizational assessment

History of the organization

The organization is housed in 1950s era as elementary school and is currently known as Burien community recreation center. It was formerly known as the Chelsea Elementary School but was closed down in around 1976. The organization was first sold to king county in 1982 and the organization operated as the Highline recreational center until 2003 when it was sold to City of Burien. The recreational site is incorporated to replace the current buildings and to meet the changing needs of the people of Burien. The Burienofficials are planning to design the recreational site afresh due to the following reasons: The officials have found that existing facilities are inadequate, out dated, operationally inefficient and therefore the current site need to be replaced. The officials have the need to utilize partnerships where possible to increase the capacity.

Organization philosophy

Vision

The organization vision is to become a leading provider of recreational services in the world. Therefore, the organization aims to fulfil and satisfy the needs of consumers. The organization also aims to improve and create services that have positive social impact on the community, consumers, improving the fitness of people and making recreation a commonplace.

Mission

The organization mission statement is to provide quality, affordable services that make the consumers happy. The organization focuses on continuous improvement of product and services and embrace technological advancements development in business. Organization has a better way to seek more opportunities to grow while providing the consumers with services that improve lifestyles.

Core values

Professional: The organizations aspire to diligently and professionally attend to the needs of the customers. Listening to the needs of the customers and putting the interest of customers first. The staffs need to be consumer oriented and provide answers to emerging questions in an ethical manner.

  1. Integrity: the staffs need to exercise greatest level of integrity in conducting the business. The staffs need to respect the diversity, being trustworthy, reliable and honest. The primary commitment of the organization is to uphold mutual virtues, goodwill and set high standards of business practice.
  2. Excellence: The organizations persistently pursue success in all whet it does. The staffs are dedicated to realizing the vision. The staffs are striving to be known for uncompromising quality products and services.
  3. Creativity and innovativeness: the organization is dedicated to promoting living standards and public recreation and fitness by providing high quality products and services at all times. The organization is very keen in embracing the technological advancements in ensuring that it offers quality products and services (McKenzie-Mohr, Doug pg. 145).

Global, industry and competitive assessment

The organization carries out the industry assessment, competitive assessments and global assessments to identify factors that will impact the organization success and use the factors to develop marketing initiatives.

Financial history and forecast

The organization has a probable estimated expenses and projected revenues basing on the understanding of the conceptual project and using the information gathered in the market and practices of the people around. However, there are no guarantees that the estimated projections will be met during the conceptual stage. The estimated revenue is based on the report from the other recreation areas offering similar products and services as the organization. The expenses of the organization includeboth direct and indirect costs.

Competitive analysis

The organization has similar products and services that are already in the market. Basically, recreational services are offered by other organizations such as hotels, recreational grounds and schools. Therefore, the organization faces competition in the market. The competitors are divided into two:

Direct competitor: Recreational grounds are the key competitors to the organization.

Indirect competitor: there are similar services where people prefer to spend time other spending on recreational areas. These services include games, watching football, etc.

Competitor strength

  • Established in the market: the competitors are well known in the market.
  • Product supply: the competitors have a high capability to provide services in the market than our organization.
  • Price: the competitors pricing is similar our pricing.

Competitor’s weaknesses

  • The organization product and services are quality and are well differentiated from that of the competitors.
  • There is general consciousness among the consumers of their bad effect from the swimming pool services offered and hence our product and services becomes number one in the health of the attendees.

Point of difference

  • New idea: the organization have used a team to bring new ideas to the market
  • Difference experience and knowledge: customers have the feelings that they will only get full satisfaction from our products and services and no other organization can provide such satisfaction. Therefore, the services and programs offered by the organization will be highly marketed to stimulate awareness in the market and instil knowledge and experience to consumers.

Global concerns and issues

The organization is considering investing in amenities that will attract many consumers from all over the world as a recreational site. The organization focuses on increasing popularity in climbing rocks activities, indoor soccer, and cultural art facilities. Therefore, the organizations need to be put in place global issues into considerations that include political, technological and legal. In terms of political issues, the organization is ensuring that it complies with all the requirements by the government. The requirement includes paying taxes, relevant documents and engaging in intra vires services only. The technological advancements are maintained by the organization since it is keeping pace on any technological advancement that is in line with the business of the organization.

Market assessment

The organization carries out the market assessment using the city residents and portion of the residents in the area. The world population is expected to grow over the next few years and therefore this will stimulate the demand of the products and services of the organization. The age distribution in the area is carried on by the organization so as to retain the information for market adjustment in the future. The organization has the age distribution as follows to match the needs. Therefore, the age between 25 to 34 years is beginning forming strong relationships and establishing families and therefore, has a high need for swimming pool, parks and resting grounds.  Moreover, the age between the 35 to 54 years has a wider range use of park facilities.The organization has also assessed the household incomes of the population in the area to be able to adjust to affordable price by majority people. The organizations have also considered the number of employed people in the area to be able to now the right channels of advertising. Most working class people listen mostly to radio as they drive home from and to work.

Target marketing objective

Organization defines various target market objectives that will define specific outcomes for the targeted market. The organization defines marketing objectives that will provide direction to the target market. However, due to the need to be driven by consumer needs and specifications, the organization intends to build a strong network around them. Our marketing objective will concentrate on two major areas. The first team of marketers will focus most of their energy more on the already existing product to develop and maintain proper marketing positioning of its products. The marketing team will do research on how to develop and improve the quality, taste and packaging of the products to cater for the target market. Therefore, due to their role, the team need to be more creative and innovative since they will be in direct contact with consumers.

This will help in bringing fresh quality services, cost effective and styling to cater for the target consumers. Moreover, the team will be engaged in making personal visits to consumers as they will use personal contact with potential consumers as their method of sales promotion. The group will also have an objective of coming up with new ways of launching the products and services in the market. Therefore, the team will works closelywith information and technology team to ensure that they have access to the latest information and needs of the consumers in the market.

The second team consists of experts whose main work will be to work hard to come up with new products to meet the growing needs of the consumers. The objective of the team is to do thorough research and identify any gaps that is present in the market and find ways to fill it by coming up with new products. The second objective of the group is to ensure that the company gives the consumers total value for their money. Therefore, the team will concentrate on identifying the main preferences for the consumers especially those that match the need of the organization (Terpstra, James, and Ravi pg. 42). Therefore, this will be arrived at by finding the strengths of the company, what the customers need most and the weaknesses of the competitors. This will help the organization to achieve optimum value of money, improvement of the company public image and better returns.

Beside the two team objectives, the organization must also be able to explore new markets for its products. From the current services offered by the organization, there is also need to expand the market. Another objective is to establish brand recognition in the market through using advertising agencies. In addition, the company will set aside 15 per cent of its sales to be used for advertising in newspapers, magazines and journals. The team will go to the ground to seek and gain the confidence of the buyers. Another objective is to bring new designs, tastes and appealing services that are cost effective.

The target market objective is to provide and satisfy the high demand of recreational activities in the market. From the analysis, we discovered that there was shortage of the recreation areas in the market. Organization discovered that there a high population of people and there are few recreation areas in the market.  Another objective is to fill the gap in the market and achieve a sale target of 5 million every year. With the teams that are very competent, experienced and industrious will help the organization to manage and achieve the objective.

Brand mapping

After the organization selects the most effective markets to focus on, brand assessment is done to analyse if the market of interest are effective choices. The organization evaluates the brand identity and assesses using swot analysis.

Swot analysis

The SWOT analysis aids the programs manager in scrutinising his/her organization strengths and weaknesses together with the opportunities and threats.

Strengths

  • Dedicated officials:  The organization have a dedicated team who understand the target markets well and the services to be offered.
  • Organization product and services acceptance: the organization have benefited from the quick acceptance from the community.
  • Strong brand equity: The organization has carried digital efforts in advertising and carrying out promotional campaign that enable the organization to have a strong brand in the minds of the customers.
  • Strong organization structure that supports innovation and creativity: The organizations have developed an innovation center and team for monitoring the market trends and adapting to them.
  • Strong ties with the community: the organization has joint planning business initiative that made it possible to coordinate the activities of its community thus pushing its sales upwards.

Weaknesses

  • The organization has limited cash flows.
  • The organization founders may lose sight of the potential scope of business.
  • Low media expenditure: the organization has low media expenditure compared to its competitors. The media exposure fuels the consumer demands for a new product and services and therefore, the organization need to spend equivalent to that of its competitors. It is said that “out of sight out of mind” (Armstrong, Gary, et al pg. 25).

Opportunities

  • Growing global recreational needs in the market: more people are adapting to recreational activities to spend their leisure time therefore increasing the demand of the services and products offered by the organization hence becoming an opportunity to the organization.
  • Increased global population: The world population is growing at a high rate every year. This becomes an opportunity to the organization since increase in population signifies the demand of the products and services.
  • There are existing gaps in the recreational market and therefore the organization has the opportunity to fill the gap with the introduction of new products and services in the market.

Threats

  • Increased competitors: the organization competition stems up every day from various organizations as well as other services available in the market similar to that offered by the organization.
  • Substitutes: there is existence of substitutes in the markets that poses great threat to the organization. The tendency that customers have of switching from one product and services to another due to the changes in general price greatly affect the organization if there is increase in service price.
  • Price wars: there is existence of new entrants in the market thus bringing cheaper substitutes for the services offered by the organization. The services that enters the markets targets low income earners since most population relies on cheaper products and services.

Marketing Mix Matrix

This refers to the decisions that a company need to make regarding the price, product and place issues to ensure that the organization achieve the marketing objective. Organization need to have the right product mix for a market and also make the potential decisions regarding the other marketing mix. The organization needs to adjust its product and services offered and introduce new ways and new products to the market. The organization need always to remember that to be successful it needs to put the right product in the right place at the right price and at the right time. The organization needs to create a product that target consumers of the product and services require. Once the product and services are created, then the organization need to price at that matches the value that the consumers get out of it and do that at the time the consumers need the product or services. Therefore, under the marketing mix, the organization needs to learn what the customers want and identify the best place to place it.

Product

The organization must know what product and services the customers want in the market.  The organization has a team of professionals who will study the market careful to interact and understand the potential consumers. The product and services are branded in a way that will appeal to all consumers. A youth recreation program is what the organization offers and mostly on summer seasons although it is also available during other seasons. The programs include swimming, rock climbing, skating and dancing.

Place

The organization ensures that the products and services are available at the right time. The company need to use trade fairs and sales promotion to make the product and services known by the customers. The organization need to consider the geographical area of the programs offered. This is important to the organization to be able to direct the advertising and knowing the competitors. If the company ignore the place, then the organization may waste resources trying to reach out to many customers who are far away.

Price

The organization prices the product and services in a way that they are affordable by all consumers. They ensure that the consumers pay a price that is equivalent to the value of the product. The consumers are very sensitive to the price and therefore the organization need to study the price charged by its competitors. If the prices are too high, the organization risk losing the potential attendees and if toolow the company will not make enough money to cover operational expenses.

Promotion

The organization need to use advertising agencies to market its products and services to target consumers. The organization also ensures that it advertises through newspapers and magazines. The organization will use advertising agencies to communicate to potential consumers about the programs and the services offered by the organization. The services and programs of the organization are intended and offered to minors and therefore, the organization gears the promotion towards the parents. Promotion medium include the radio, television, print, internet. The organization chooses the promotional method basing on the budgets and the goals intended to achieve. An example is if the organization want to attract working parents, then the organization need to buy advertisements during dive time i.e. when parents are commuting to and from the work.

Communication Mix Matrix

Once the organization has made the promotional decisions, then it can use various methods of direct communication to reach potentialconsumers in the market. The organization must communicate the message intended to reach the consumers in the market. The organization will use the public and community relations to communicate to the target market. Moreover, the organization will use the stewardship and sponsorship, advertising, personal selling, research and internal marketing to reach to potential consumers.

. Leisure experience assessment

The organization will be carrying leisure assessment every week.  Leisure experience assessment refers to the exchange that occurs between the consumers and the organization regarding the services and products offered. It is the feedback that consumers have regarding the services offered by the organization. The feedback is used by the organization to improve the quality services offered. In the case of recreational services, it is important for the organization to listen to consumers regarding the services offered to ensure that any mistakes is corrected at the right time to improve the services in the future. After getting the feedback, the organization reflects on its uniqueness and identifies new ways to enhance the services to the targeted market to be able to beat the competitors in the market.

Recommendations

The organization needs to form a board that need to focus much on the business priorities and leadership developments. This will help the marketing strategies to be reviewed regularly and the board to receive a detailed briefing every month on the critical aspects of the implementation of the marketing plan. The organizations also need to implement the principle of managing with respect (Ferrell, Odies and Michael, pg. 52). This principle will enable the people to freely offer suggestions, make contributions and create ideas that are useful to the organization. The principles include: communicate effectively, promote team work, set example, value unique contributions and give and ask for feedback. The organization also needs to have continuous improvements all the time. This will enable the organization to focus on getting better every day in everything they do. This is done effectively by first understanding the customers’expectations and continuously working towards improving services and processes to make the organization services and products the best.

Conclusion

In summary, the organization’s marketing plan and strategies have enabled it to beat off high competition. The marketing plan is to be effected this year and will focus on achieving the goals and objectives of the company. However, despite the successes, the organization faces threats from the increased competition and dynamism in the market.

Work cited

Armstrong, Gary, et al. Principles of marketing. Pearson Australia, 2014.

Ferrell, Odies C., and Michael Hartline. Marketing Strategy, Text and Cases. Cengage Learning, 2012.

McKenzie-Mohr, Doug. Fostering sustainable behavior: An introduction to community-based social marketing. New society publishers, 2013.

Terpstra, Vern, James Foley, and Ravi Sarathy. International marketing. Naper Press, 2012.