Impement and Monitor Marketing Activities
Implement and monitor marketing activities Review of implementation of the marketing strategy and tactics BBC fun June 2009 Task 1 Executive Summary The marketing plan reviewed in this report is for BBC fun 2009. BBC fun aims to be e leading outdoor-lifestyle retailer, catering to the growing need for furnishing new and renovated dwellings in the greater Brisbane area. The assortment offer of BBS, outdoor furniture and BBC accessories will position BBC fun as best in class for outdoor-lifestyle retailing.
BBC fun will reinvent the way people shop for outdoor- lifestyle products. BBC fun will build its reputation on offering the fullest assortment of products possible in their chosen fields, incorporating both local and imported goods with products sold on easy to manage long-term payment plans. Our after sales service and three-year guarantees will find traction with a market dominated by low-quality items. Strategies and Tactics BBC fun will be operating with an advertising budget of $250,000 for the year. The advertising program will target: ; Local letter-box drops
Radio advertisement and Stakeholders Briefing regarding their implementation roles Board of directors: the board of directors are required to approve the hence they will be briefed on details of the plan through a
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Finance staff: Hess staff will need to set a separate cost centre for the budget associated with the marketing plan. A written request for a budget allocation, or similar, would be used to brief this stakeholder group. Managers: managers will be informed of any possible impact of the marketing activities on their departments through a meeting with the marketing department, which would include new products and services.
Marketing and non-marketing personnel briefing Objectives: ; Increase sales from $15 million per year to $20 million per year in the next three years ; Increase our loyalty customers list from 10,000 to 16,000. Establish brand recognition in Brisbane so that at least two in three people recognize our brand in a random survey taken in 18 months’ time. Marketing department will have direct roles in relation to the implementation and hence they will require significant details about the overall plan as well as each of the strategies and the related tactics.
Sales staff will need overview of the plan and the strategies or tactics to be used and will need detailed information of the activities that will affect them, such as new special offers/pricing or changes to sales processes. Staff directly responsible or accountable for activities listed in the action plan section of the marketing plan, an individual action summary will be used to record relevant information for later use in measuring their performance or contribution to the marketing plan.
Performance Measures BBC fun will adopt balanced scorecard approach to measure the performance will enable BBC fun to monitor and manage overall business strategy by looking at the drivers of current and future success for the organization. It will focus on the link between the marketing plan and the four critical areas of the business operations namely customer, financial, internal business processes and learning and growth. Sales personal will have a performance measure relating to the overall goal of BBC fun which will be increase sales from $15 million per year to $20 million per year in the next three years.
Marketing personnel will have performance measures that relate to overall marketing activities which is deliver all marketing campaigns on time and within budget. Priorities list of marketing strategies activity description deliverables resources needed Local letter-box drops Leaflets designed, printed and distributed Cannon’s insulates Finances- $150000 Personal for distribution Radio advertisement’s advertisement developed, slots booked and aired on radio.
Cannon’s consultants Finances-$280000 inserts, tie up with magazine and distribute in the local area. Finances- $150000 Communication and team building strategies Cannon’s consultants Before the commencement of the project a team meeting was be held with each team member present where they were provided with a summary of the overall project action plan with the goals and objectives detailed in a schedule timetable detailing implementation and points of measures. They were also provided with detail each team member’s area and tasks of responsibility.
An interactive discussion was also initiated to discuss any issues of concerns. A half an hour will be scheduled on Monday morning of each week to monitor the overall campaign progress, discuss individual tracking and highlight any unexpected issues that need attention. During the initial meeting each and every employee will be made clear of where they fit in the organization structure, their responsibilities and accountabilities. It was decided to organizes a staff party at the completion of each milestone.
Strategies for monitoring marketing activities and analyzing performance The whole project will be monitored on a Gaunt Chart which will illustrate the start and completion dates of each self-contained stage in the project. The chart will reveal the process sequence and highlight the dependencies of some processes on other processes. Week 1 Date: Date: Week 3 Date: Week 4 Date: Week Date: distribution Leaflet printing Inserting graphic enhancements Develop leaflet for letter box drops A separate Performances analysis will be conducted for each activity in following manner Monitoring and implementing promotional activities
A regular review of all the marketing activities is being conducted based on the Gaunt chart to keep track, so that evaluation of any issue of concern can be carried out as soon as possible. ; The regular review revealed that 70% of the people in the target market recognize the BBC brand and what it represents, ;sales growth target of Increase sales from $1 5 million per year to $20 million per year in the next three years has been achieved ; gross profit margins are still 48% Monitor Product pricing and distribution decisions Product attributes: BBC, outdoor furniture and BBC consumables.
Product benefits: easy manage payment plan. Product usage: All the products can be used in day to day household Product users: people residing in new dwellings, people renovating and people replacing their old BBC. Product competitors: The Yard, Bib’s R Us, Outdoor. Product distinction from competitors: Buffo’s credit offer is backed by a top tier bank. Imported products make up 33% of the assortment. The three-year guarantee is unique in the market place. ; Broadest possible range in chosen fields.
Product classes: quality, fashionable and unique outdoor-lifestyle. Monitoring results against targets in the marketing plan Monitoring marketing performance is being done by looking at what has happened and why considering the results and how do they compare with our goals? To find the reasons for why it happened its being looked into by checking: Were the marketing efforts put in right direction? Was there any specific activity that contributed the most to boost the results? What part of the marketing plan did what?
Monitoring process will be as follows Establishing standards Achieving total sales of $11,000,000, Gross profit of 5,500,000 tit a marketing expense of 180,000 by the end of 2009 Measuring performance Sales target of $11,000,000 has been achieved but the gross profit is $5,280,000 which is less by $220,000 Proposing measures to correct deviations from the standard Source a new manufacturer from overseas to provide products at cheaper prices hence increasing the gross profit margin.
Monitoring of marketing revenue and costs against allocated budgets is being carried out by analyzing and recording variations. Detailed revenue versus expenses for all marketing decisions, will include, timeliness involved in accomplishing the required oils and objectives. Budgets will clearly layout the spending requirements for each decision ; breakdowns by month ; Breakdowns by year. It will be determined how sales vary between regions and where the resources are going.
Marketing managers will analyses the information containing: ; how marketing costs are spread where the money is being spent: 0 Is it on product development, promotion or customer research? ; standards of how much should be spent on marketing how much money needs to be spent on marketing in order for the organization to be competitive ; what results should be expected to result from marketing pending: ; Is the revenue generated from marketing meeting budget expectations? Are costs within budget? ; Does analysis identify variations? Recording variations in revenue and cost against budget The budget figures for the revenue and cost would be compared with the actual figures and the variances will be recorded in revenue and cost variance template outlined below Item Budgeted $ Actual $ Variance % Total sales 0 Gross profit 4 Expenses Direct mail 40,000 40,000 0 Magazine advertisement 110,000 110,000 0 Radio promotions 30,000 30,000 0 Total 180,000 180,000 0 Task 3
Section A Implementing marketing strategies and tactics Overview of the marketing activity to be implemented I am involved in implementing the following marketing activities for BBC fun; ; Direct mail Magazine advertisement Radio Promotions Strategies and Tactics Magazines with coupon inserts in the Brininess magazine Stakeholders Briefing Board of directors: approval of the board of directors is required hence they were briefed on details of the plan through a
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Roles critical to the success of the marketing plan activities Role Responsibilities Board of directors Provide approval for the plan and its implementation, make available all resources required for implementation and monitoring of the plan. Human resource department Provide with all human resources required to complete the tasks to meet the requirements of the plan Finance staff Make available pre- approved finances as and when required by the plan Line managers To accommodate any impacts by marketing plan and working around it Marketing manager Primarily responsible for marketing activities and has the authority and responsibility over all company activities that affect customer’s satisfaction.
This is in addition to his other responsibilities. Radio company To develop in conjunction with marketing manager the advertisement and air Printing house To design and print promotional material in conjunction with marketing manager distributors To distribute the promotional material Briefing of marketing and non-marketing personnel To brief all marketing and non-marketing personnel individual meetings with these groups were organized and their roles and responsibilities and performance measures were discussed and a written statement of same was provided to them. The documents used to brief the stakeholders were used again for briefing purposes.
Priorities list of the marketing strategies and the resources required for their implementation The following is the priorities list of the marketing strategies and the resources required for their implementation: strategies resources retain existing customers by providing excellent after sales service and three years guarantee on the products Trained customer service representatives, good quality service centers to confirm with guarantee Develop customer base by providing wide range, quality and unique products Well-equipped research and development department to develop wide ranging, quality and unique products Generate business wrought new customers by conducting advertisement and promotion activities Evaluation of Communication and team building strategies to organizes a staff party at the completion of each milestone. Pricing: While Begun will price at comparable prices for comparable quality, it will not be cheap. We push value over cheap and back this up with a three year guarantee.
Distribution: Begun products will be distributed through a chain of retail stores which customers can access easily via the large car parking arrangements. Advertising and promotion: The most successful advertising will be ads and inserts in he Frizzy as well as a PR campaign of informational articles and reviews also within the Frizzy. Promotions will take the form of in store entertainment and competitions with prizes to exotic overseas destinations. Customer Service: Buffo’s philosophy is that whatever needs to be done to make the customer happy must occur this investment will pay off with a fiercely loyal customer base that is extremely vocal to their friends with referrals.
Strategies for monitoring marketing activities and analyzing performance The performance was analyses by comparing the current collected data with the set oils and determining whether the following goals are being achieved. Timeliness: were all the actions completed within stipulated time frame Resources: were all the resources used efficiently and effectively. Costs: did the cost of implementing activities stayed with in the developed budget Sales: did the campaign achieve the desired sales figures. A brief feedback form was circulated to all appropriate personnel weekly for all employees to note customer satisfaction, events or problems that need to be addressed, as they happen each day.
Employees were required to record action oaken when customers aren’t satisfied with products or services. A summary of these internal feedback containing relevant comments on improving customer satisfaction (or solving customer problems) were circulated each week to all employees to inform, educate, and improve total organization problem-solving for customers. This assisted in improving communication. Surveys were sent to customers to gather their input on how well BBC fun is satisfying their needs. A monthly or quarterly review with specific customers to determine: ; summary of sales information compared to Current customer service problems, detailing what they were and steps that were implemented to resolve the issues. Customer service improvements summary The entire campaign was monitored on a Gaunt Chart which illustrated the start and completion dates of each self-contained stage in the project. The chart revealed the process sequence and highlighted the dependencies of some processes on other k 1 Date: Section B Current progress of the marketing activities against the marketing plan and overall objectives Monitoring and implementation of promotional activities against immunization objectives in the marketing plan communication objectives Implementation to position Begun as the premier outdoor-lifestyle store in the greater Brisbane area, commanding a majority of the market share within five years In addition to radio promotion and magazine advertisement, direct mail campaign was one way to communicate directly with the consumer.
Begun also used ads and inserts in Frizzy magazine. Communicate that Begun offers the widest, most exotic, easy access outdoor-lifestyle products in Baronetcies mail campaign was one way to communicate directly with the consumer. Begun also used ads and inserts in Frizzy magazine. Create customer awareness regarding their services offered Grassroots PR campaign. This campaign invited people from Frizzy for lunch to get articles written about Begun into the news develop that customer base Buffo’s did everything to make customer satisfied, this investment paved off with a fiercely loyal customer base that is extremely vocal to their friends with referrals. Ark toward building customer loyalty and referrals Buffo’s did everything to make customer satisfied, Monitoring of product, pricing and distribution decisions against organizational logic and the objectives of the marketing plan Marketing objectives Decisions years ; Increase our loyalty customers list from 10,000 to 16,000. ; Establish brand quality and unique. It offers the house proud customer a different option from the cheap mass produced offer prevalent in the market. New products will be developed on a regular basis in line with changes in customer taste which is targeted at every 12 months. The plan for product testing is to engage market research firms.
Pricing: All products/services were competitively priced relative to comparable high- end outdoor-lifestyle lines. While Begun priced at comparable prices for comparable quality, it will not be cheap. We push value over cheap and back this up with a three year guarantee. Distribution: Begun products were distributed through a chain of retail stores which customers can access easily via the large car parking arrangements. Easy to access stores with extensive choices in our chosen fields, that are sold on an easy to manage payment plan with a three-year guarantee are the keys to our customer’s needs and wants. Monitoring marketing performance was done by looking at what has happened and why considering the results and how do they compare with our goals?
To find the Monitoring marketing revenue and costs against budget The budget figures for the revenue and cost were compared with the actual figures and the following variances were recorded in revenue and cost variance template Section C Evaluating and improving marketing performance Processes used to regularly assess marketing performance against objectives Evaluation of marketing performance was done by gathering information measuring customer reactions. This enabled us to analyses and gather invaluable information. This information was used to improve the targeting of our marketing activity. Further valuable information was gained by periodically assessing customers’ feelings and opinions of the organization and how well their needs are being satisfied, which is collected by customer feedback survey. The information was gained by analyzing: ; customers’ feedback Key focus of appeal? Success in appealing to our targets improvement suggestions available product features promoted ; benefits of the product promoted Interview questions 1.
Overall, are you very satisfied with the way BBC fun performed on this occasion? . BBC fun’s service representatives (Cars) are well trained. 3. Did service representatives (Cars) adhere to professional standards of conduct? 4. How often do you typically use the product? 5. How did your Product performed? 6. Overall, how satisfied were you with your new Product? 7. Have you ever contacted customer service? 8. If you contacted BBC fun’s customer service, have all problems been resolved to your complete satisfaction? 9. Considering only your most recent purchase experience, how likely would you be to recommend the purchase of this product to a friend or colleague?