MMK325 \u2013 Strategic Marketing \u2013 Trimester 1 2023
\nAssessment Task 2
\nStrategic Marketing Report (2a) \u2013 Group Submission<\/p>\n
2700 words!<\/p>\n
PART 2A: Group Component Outline\/Structure<\/p>\n
Part A: Situation Analysis<\/p>\n
Situation Analysis is based on the strategic analytical methods covered in this unit. Analysis and critical thought is important for situation analysis. You must focus and rely on the information available. Also, only summarising the information which are publicly available without any analysis or critical thought will be awarded extremely low marks. Attend seminars regularly. Your tutor\/seminar leaders will often discuss assignment tasks during the seminars. Please feel free to consult with the teaching team.<\/p>\n
Situation analysis comprises:<\/p>\n
A1) Industry Analysis \u2013 Define and characterize the industry in which the focal firm is operating in the period given in the case study. In order to assess the industry\u2019s attractiveness, you will need to use one or more relevant strategic tools (e.g. PEST, TREND etc.) that we discuss during the trimester.<\/p>\n
A2) Competitor Analysis \u2013 In terms of business and other types of sustainability, who are the company\u2019s major competitors? What are the major threats? Use relevant strategic tools to categorize these.<\/p>\n
A3) Critical Issues that industry faces and identification of key success factor (KSFs)\u2014List a set of critical issues in the industry based on the information provided and then identify which of these translate into key success factors at the market level for the players within that industry.<\/p>\n
A4) Develop a Competitive Strength Grid<\/p>\n
Part B: Marketing Strategy Development, Implementation and Control<\/p>\n
Building on the situational analysis of Part A, in Part B you will develop high level marketing strategy and will include how to implement and control your proposed strategies. This plan must account for the constraints on the business\u2019s future. This plan should also suggest some alternative strategies if applicable.<\/p>\n
Your job is to describe the strategic thrusts needed to achieve one or more complimentary strategic directions.<\/p>\n
B1) Identification of strategic segments, possible target markets and positioning of your case company and addressing where the company (or its main stream product\/services offer) are positioned within the PLC.<\/p>\n
B2) Setting Mission and Vision, including Marketing Goals and Objectives for 3-4 years for your firm in the case study or the company assigned. These may be set at the SBU level, product\/service level, or both levels, depending upon the case company or what has been asked for.<\/p>\n
You may wish to break down objectives in terms of projected growth, customer acquisition\/expansion, sales, profit etc. over the next three to four years. You also need to show through an organizational chart\/diagram that depicts who (or which function\/division) is responsible (i.e., owns) the objectives you have set.<\/p>\n
B3) Creating value through marketing mix i.e., what is your overall strategy in terms of product, price,promotion and placement. IF and ONLY relevant to your case study, you may include other elements of the marketing mix (people, process, and physical evidence). You may wish to describe this entire section through creating a detailed table, however you may also use a different approach.<\/p>\n
B4) Resource Allocation: In this section, you need to breakdown the resources you plan to allocate to implement your marketing mix strategies (section B3) in order to achieve your marketing objectives (section B2). You will also need to show what will be the company\u2019s expected expenditure and return (in terms of marketing KPIs) over the next 3-4 years to support your strategy. You may think about using a table or figure for this purpose.<\/p>\n
Please provide rationale for your resource allocation as you craft the table or figure to address this section (B4). You may also discuss how the company expects the resources to be generated in the next 3-4 years.<\/p>\n
You will need to derive information given in the case and also use your judgement and critical thinking and assumptions for forecasting the required resources.<\/p>\n
B5) Monitoring and Control \u2013 How would you monitor your strategy? (i.e., for example setting KPIs, objectives) and what sort of control mechanism will you have in place? (You may show this through a detailed table or Figure with short explanation).<\/p>\n
You are required to use graphics, charts and tables to present your solution clearly. Tables and graphs should add value to the assignment, and should not repeat information.<\/p>\n
Assignments without graphs, flowcharts and tables will be awarded substantially lower marks. Look at the \u201cGeneral Assignment Standards\u201d section of this document for formatting guidelines. All work MUST be your own.<\/p>\n
Answers will be assessed for appropriateness and persuasiveness. Application of strategic marketing concepts is expected.<\/p>\n
View other drafts<\/p>\n
Part A: Situation Analysis<\/p>\n
A1) Industry Analysis<\/p>\n
The industry in which the focal firm is operating is the automotive industry. The automotive industry is a large and complex industry that is constantly evolving. The industry is characterized by high levels of competition, rapid technological change, and globalized markets.<\/p>\n
The automotive industry is a mature industry that has been growing at a slow pace in recent years. The growth of the industry is being constrained by a number of factors, including the global economic slowdown, the rise of alternative transportation options, and the increasing cost of fuel.<\/p>\n
Despite the challenges facing the automotive industry, it is still a major economic force. The industry employs millions of people around the world and generates billions of dollars in revenue each year. The automotive industry is also a major driver of innovation and technological change.<\/p>\n
A2) Competitor Analysis<\/p>\n
The focal firm’s major competitors in the automotive industry include:<\/p>\n
Toyota
\nHonda
\nNissan
\nGeneral Motors
\nFord
\nVolkswagen
\nHyundai
\nKia
\nDaimler
\nBMW<\/p>\n
These companies are all major global automakers with a strong presence in the automotive industry. They have significant resources and capabilities that allow them to compete effectively in the industry.<\/p>\n
A3) Critical Issues that industry faces and identification of key success factor (KSFs)<\/p>\n
The automotive industry faces a number of critical issues, including:<\/p>\n
The global economic slowdown
\nThe rise of alternative transportation options
\nThe increasing cost of fuel<\/p>\n
These issues are all having a negative impact on the industry and are making it more difficult for companies to compete.<\/p>\n
The key success factors (KSFs) for the automotive industry include:<\/p>\n
Innovation
\nEfficiency
\nCost-effectiveness
\nQuality
\nCustomer service<\/p>\n
Companies that can successfully address these KSFs will be well-positioned to compete in the automotive industry.<\/p>\n
A4) Develop a Competitive Strength Grid<\/p>\n
The following competitive strength grid shows the relative strengths and weaknesses of the focal firm and its major competitors:
\nCompetitors\tStrengths\tWeaknesses
\nToyota\tStrong brand name, innovative products, efficient operations\tHigh cost structure, limited presence in emerging markets
\nHonda\tStrong brand name, reliable products, good customer service\tLimited product lineup, high cost structure
\nNissan\tStrong brand name in Japan, efficient operations\tWeak presence in Europe and North America, limited product lineup
\nGeneral Motors\tStrong brand name in North America, large dealer network\tHigh cost structure, legacy issues from bankruptcy
\nFord\tStrong brand name in North America, large dealer network\tHigh cost structure, legacy issues from bankruptcy
\nVolkswagen\tStrong brand name in Europe, efficient operations\tWeak presence in North America and China, diesel emissions scandal
\nHyundai\tLow-cost producer, strong brand name in South Korea\tLimited product lineup, weak presence in Europe and North America
\nKia\tLow-cost producer, strong brand name in South Korea\tLimited product lineup, weak presence in Europe and North America
\nDaimler\tStrong brand name in Europe, luxury car maker\tHigh cost structure, limited presence in emerging markets
\nBMW\tStrong brand name in Europe, luxury car maker\tHigh cost structure, limited presence in emerging markets<\/p>\n
Part B: Marketing Strategy Development, Implementation and Control<\/p>\n
B1) Identification of strategic segments, possible target markets and positioning of your case company and addressing where the company (or its main stream product\/services offer) are positioned within the PLC.<\/p>\n
The focal firm operates in a number of different strategic segments, including:<\/p>\n
Passenger cars
\nLight trucks
\nCommercial vehicles<\/p>\n
The focal firm’s target market is primarily middle-class consumers. The company’s products are positioned as being reliable, fuel-efficient, and affordable.<\/p>\n
The focal firm’s products are currently in the growth stage of the product life cycle. The company is experiencing rapid growth in sales and market share.<\/p>\n
B2) Setting Mission and Vision, including Marketing Goals and Objectives for 3-4 years for your firm in the case study or the company assigned. These may be set at the SBU level, product\/service level, or both levels, depending upon the case company or what has been asked for.<\/p>\n
The mission of the focal firm is to provide reliable, fuel-efficient, and affordable vehicles to middle-class consumers.<\/p>\n
The vision of the focal firm is to be the leading provider of passenger cars, light trucks, and commercial vehicles in the world.<\/p>\n
The marketing goals and objectives of the focal firm for the next 3-4 years are to:<\/p>\n
Increase sales by 20%
\nIncrease market share by 10%
\nLaunch a new product<\/p>\n","protected":false},"excerpt":{"rendered":"
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