STRATEGIC MARKETING

STRATEGIC MARKETING This assignment is generally based on Olympics 2010. On 6th July 2005, the International Olympic Committee (IOC) announced that London would congregation the (The London 2012 Olympics, Bob DigbyCommunity Geographer, and Geographical Association) 2012 Olympics It was chosen to be held in London Stratford, Newham. This is a sports competition which all the people in the world celebrating. To become an Olympic champion the athletes in all around the world together in one city challenging each one in range of games. Games are likely to be held on end of July 2012. TASK1 Introduction In this task I do investigate planning principles and marketing planning process of 2012 Olympics. Develop the strategic marketing plan. The marketing planning principles and process The most basic marketing principles (According to kotler (1980) are applied to customer point of reference to recognize what goals gathering now, believe, and do. The course of act begins with marketing research to identify market segment and potential needs, desires, attempt, concerns, performance. Then settle on the target market be able to influence and satisfied. Then use 4ps to power on to the market. The4ps are product, price, place and promotion. As well as the marketing mix. The marketing principles also revolve around the customer. The principle is getting the customer the right services and goods in the right time. The principles also place emphasis on customer involvement and well as integration or involvement of staff in all marketing decision making. To get this right, the process has to be taken into consideration. The marketing planning process (marketing principles and practice) Where are we now? Where do want to be? How do we get there? Which way is the best? How do we ensure safety arrival? Where are we now? To complete the marketing research and collecting the past data about the project is the first step. And also have to analyse this information and present that to future plan. This process helps to consider the financial and trade environment Consider present status in the marketplace and main sides of sales. Come across at the strengths and weakness of the company. To analyse the existing circumstances have to carry out situational analysis. SWOT analysis of 2012 Olympics. SWOTS stand for- strengths and weakness as related to opportunities and threats. STRENGTHS- Quality and a well highly regarded construction of conducting the project. Sir Robert Mc Alpine is one of the construction firms on the london2012 project. Because this company is an icon in the in a building construction sector in UK The West Midlands is geographically and economically well-placed for the London 2012 Olympic Games. Weakness Marketing techniques not superior. Need to improve new marketing techniques to customers before, during and after the Olympic. Staffing and management problems Opportunities Encouraging young people to sports. The peace can be developed. Enhance the tourism of UK. Threats Security of people- Dr peter Rayon the adviser of London Olympic 2012 added special team for supervise bomb management and VIP, Athletics security. Current financial circumstances Where do we want to be? After identifying strengths, weakness, opportunities and threats of London 2012 project and made assumptions about outside factors that may affect to the project have to set up the marketing objectives. The objectives are what we want to achieve to complete the task. This is the first action of entire process of preparing a marketing plan. Objectives of London 2012 Care for lands cape without any changes To make sure to give safe games for london2012 the Olympic organisation committee work in partnership with police, government, public authorities and security companies. Ensure best personal safeness before and during Olympic competition. The goals of london2012 The business and employment development In the education sector skills and desires. Enhanced health and better life. Superior environment (Sources) Better communication The mission of london2012 Source: IOC website (2005) Mission Statement. The Olympics should provide à ¢Ã¢â€š ¬Ã‚ ¦ Sustainable environmental legacies, such as à ¢Ã¢â€š ¬Ã‚ ¢ Rehabilitated and revitalized sites, à ¢Ã¢â€š ¬Ã‚ ¢ increased environmental awareness, à ¢Ã¢â€š ¬Ã‚ ¢ improved environmental policies and practices, The vision of London 2012 The vision of london2012 is a great change in different areas by the power of games. Such as changes in peoples lives, sports. And also motivates the people to go head on their lives through the sports. (c)How do we get there? (How to write a marketing plan by john Westwood) Strategies The marketing strategies are the broad methods selected to accomplish exact objectives. There are different types of strategies Defensive strategy Developing strategy Attacking strategy First look at the type of strategies that available is to use a matrix that was developed by Ansoff. Market penetration- Worldwide market penetration-The International Olympic Committee was leap to propose the games event to China. Global sponsors -Consumer products giant Procter Gamble has signed up as a global Olympics sponsor. Product development Olympic park master plan (designbuit-network.com)- In 2006 January (ODA) was workout the master pan of Olympics. Olympic Games will provide local tourism business for both to new visitors from overseas and regional travellers. Market development ((gamesmonitor.org) New report predicts that the value of the UK CCTV market will increase by 10 per cent by 2012. Investment opportunities to fabricate Olympic named products and services. E.g. Olympic t-shirts , mugs, cups, hats, toys Diversification London 2012 Business Network The Network component   Ã‚  Ã‚  Ã‚  Ã‚   1)  Ã‚   Vital information for West Midlands business     Ã‚  Ã‚  Ã‚  Ã‚   2)  Ã‚  Ã‚  attractive  business events The expansion of new clean tech industries and other strengths in artistic industries, media, logistics, and tourism. (d)Which is the possible meaning? Tactics Tactics are built-in the particulars of entity path of achievement that will be followed on a daily basis. Once developed the marketing strategy, there is a Seven P Formula should apply to constantly assess and revaluate Business activities. The seven Ps Product Price Promotion place process physical evidence People Product Compare to the other competitors offer be superiority deal. E.g.- New website presents including verity of facilities and opportunities Development of Olympic park Price The ticket prices have been announced. Tickets are available from  £20. Also special prices offered to young people, seniors across all Olympic sports. In this case from the cheapest price to higher price tickets are available according to customers needs. Promotion To promote London 2012 and attract the people on that specially designed ticket draw was introduced. Place Local people and visitors are making improvement works that have taken place along The Greenway, for the Olympic Park to Victoria Park and West Ham Station. East London is being developed with all the facilities and attractiveness. People To this huge project education sectors, business sectors, cultural organisations, charity, volunteers are involving to this. And all the range of customers is target in all around the world. (e)How do we ensure safety arrival? Control measures The ODA has resolute to clear its progress manage utility via a Planning Committee. This manuscript provides direction for the authority of the ODAs Services biased the Planning Committee, particularly to release Of the expansion manage. Creation decisions on preparation application Prepare and submitting planning reports to the Planning Committee Offer planning advice to the team. The strategic plan Overall strategic concept Guidelines Strategic objectives Strategic principles Strategic phase Develop of Olympic facilities Principles and locations Plan and design Olympic green Total reflection for Olympic games Environment development Pollution control Environment development Transport development Information and technology development Social environment development Cultural environment Health care and security Legal environment Strategic support Speedup economic development Advance development new technology Develop human recourse management Olympic action plan Action plan proposal Strategic conception Work task Support measures Transport construction Guide lines/ objectives Transport (urban) Traffic management Traffic support system Traffic organisation Energy development Proposals Mix and readjustment Clean energy projects Environment protection present states guidelines/ objectives prevent/ control pollution mange assure measure task1 (b) Here I am going to discuss the SWOT management tools that could help to analysis the current 2012 environment with reference to marketing. The SWOT management tools SWOT analysis is for Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis is a planning tool used to understand the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business. It involves stating the objective of the business or project and identifying the internal and external factors that are either supportive or unfavorable to achieving that objective. SWOT is often used as part of a strategic or business planning process, but can be useful in understanding an organization or situation and decision-making for all sorts of situations. Internal factors The strengths and weaknesses To identify the strengths and weakness have to audit 7ps, 7s, ans5m External factors The opportunities and threats To identify the external factors have to cover PEST analysis. A SWOT analysis can be used a method of sales distribution a business idea a strategic option, such as entering a new market or launching a new product SWOT ANALYSIS INTERNAL EXTERNAL STRENGTHS- recourses and capabilities can be used for competitive advantage e.g.-strong brand names WEAKNESS- absence of certain strengths E.g.-weak brand name OPPURTUNITIES- external environment analysis can reveal opportunities for growth. E.g. unfulfilled customer needs THRETS-changes in external environment e.g. new regulations Can be identified strengths and weakness in the current environment when we do the SWOT analysis. So after that whatever the weakness we can convert for strengths. And also we can match opportunities and strengths and supply best service for London 2012 PEST ANALYSIS What is PEST Analysis? Organization considers PEST before and beginning the marketing process. After that environmental analysis should be continuous and feed all aspects of planning. The entire Marketing environment is made of 1. Internal environment e.g. staff 2. micro-environment e.g. our external customers 3. macro-environment e.g., Economic forces Political factors. Stability governments policy on the economy government view on culture and religion Terrorism influence in traffic Activities and it will boost need for crisis and business stability. Economic Factors. Consider the state of a trading economy. 1. Interest rates. 2. The level of inflation Employment level per capita. e.g Global contest may persist to boost over the next 5 years. London 2012 Olympics driving venture. Drive to reduce costs. Social cultural Factors In this case have to consider the roles of men and women in society the population customer constitutional rights and responsibilities Technological Factors. It is a competitive advantage, and huge driver of globalization. Cheap and supper standard of quality Distribution change of technological development. e.g. books via the Internet Technical improvements to trim down exhaust waste. Potters five A business has to understand the dynamics of its industries and markets in order to compete effectively in the marketplace. Porter (1980a) defined the forces which drive competition, contending that the competitive environment is created by the interaction of five different forces acting on a business. competition amid suppliers Threat of new market entrant Bargaining power of buyers Power of suppliers Threat of substitute products Task 2 Introduction In this task i am going to discuss the market strategy options available and benefits and limitations. THE MARKET STRATEGY OPTIONS A marketing strategy is the outcome of decisions being made a exacting product or service promote to its aim customers. In this case i do present Ansoff growth matrix- four strategies Market penetration Penetration pricing insistent advertising Traditional industries. Memorial souvenir, sporting goods which benefit from the Olympic boom.   Market development Targeting new customers The new website has been developed to keep you up to date with our product development. It includes- News Technical Technology Products Future Website Development: On-Line facilities Product development Product line stretch Introducing new line offensive new product with new sector The Sponsorship Programme with five-year calendar of events and opportunities. Diversification- Advantage of diversification is even one side of business go through bad situation, the other may not be affected. Marketing mix Marketing mix is putting the right product in the right place, at the right price, at the right time. American author, Philip Kotler prefers the 4 Cs. He suggests that the 4 Ps are a sellers mix or sales orientated approach and it therefore should be replaced by the 4 Cs which are more customer orientated, or marketing orientated. It is made up of Customer needs and wants (the equivalent of product), Cost (price), Convenience (place) and Communication (promotion). 1960 by E J McCarthy. The 4Ps are: Product / Service Place Price Promotion Product/Service Have to consider what the Customer needs from the product or service are and Features that needs. Then look at the place. The easy places to customers can reach this product or service and access the right distribution channels? After this, what is the price as they want and What is the value of the product or service Are there established price points for products or services in this area and What discounts should be offered to trade customers, and also compare the price with competitors. Then think about the Promotion. In this case competitors promotions and how that influence to our promotional activity does all those have to consider. When consider the Olympic 2012 in London, when we do practical the marketing strategic options the marketing mix has allots of benefits and also varies limitations. Because of London 2012 the construction sector, business economic sectors, education sectors transport systems, like that allots of sides on UK is being developing. But because of the security reasons like terrorism and pollution, environment protection there are some limitations have to consider with all the strategic options. This project pushes the country through the development of new technology such as giant screens and environment protection like green scheme. Task 2 (b) The stake holder Stakeholders are anybody who might directly be affected and influence on London 2012 Olympic Main stake holders of London 2012 British association The BOA is completely dependent and commercial sponsorship who support for GB. DCMS Responsible for the London Olympic Games and Paralympics Games and works closely with other key stakeholders THE MAIOR OF LONDON The Mayor of London is Co-Chair of the Olympic Board, which oversees the 2012 project. Olympic Park Legacy Company After the London 2012 Games this company is responsible for the long-term planning, development, management and maintenance of the Olympic Park. Secondary stake holders Media TFL Schools Police/ forces Customers sponsors Stakeholders are analysis according to their power and interest of the organization. There are four types of stakeholders Keep Satisfied -high power /low interest Engage Closely and Influence Actively- high power/ high interest Monitor (minimum effort) Low power low interest Keep Informed-low power / high interest It is important to involve stake holder to marketing decisions be cause some types of planning purpose will need to comprise a report of participation to show stakeholder conversation in move ahead of the submission of the planning application. And some projects, like business planning require stakeholder participation and wider communal liability. Key stakeholders are directly influence and important to the success of the project. Task 3(a) current changes The pest analysis of London 2012 Political- Political factors are mostly including government legislation forcing businesses. The Olympic Games are frequently under attack by terrorist groups. Sports events are mostly developed and improved in education sector. The cost of Olympics budget may affect to present government stability. Economical- Economic services consist of effects of increase, interest rates and exchange rates. Present financial dip can be a pressure to the government. Over budgeting of the project Hard to cover the Skills gap Social- In the schools increasing participation in sport Community Development such as charity organizations, volunteer work forces. Technological- Technology is changing speedily. Depending on market, technology can be change. For London Olympics giant screens are best example for that people can watch the Olympic in live where ever the country when screens are available. On line people can do investments and develop the business through the new web site. Task 3 (b) how respond For all these changes planning committee and project team has to respond to reach their goal. So they. Have to consider with health and safety rules and regulations and follow them accurately for safeness of the people. The datas of the project and employees and all the people who involve to the project must be protected And the mean time have to provide best opportunity to the people. For technological changes if there any skills gap have to make use from another countries. It may be very expensive. Task 3 (c) the functional areas may develop Hr Security media transport HR In the hr sector have to clarify the present job opportunities. And to get maximum out come from human recourse. And also by minimise the number of jobs and cover the budget of the project. School students projects and volunteer workers projects and also awarding systems can be introduced next 3 years. Security For security purpose high tech speed cameras can be fixed. Train a special secret security team with special hidden cameras and mike that no one can recognise. Media Giant screen New website Special magazines Transport Development of roads, highways Special buses, fights, trains for London 2012