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Strategic Marketing plan

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Strategic marketing plan

Introduction

A strategic marketing plan of the UNE life should be able to describe and explain the achievable objectives within a specified period. Additionally, it must also show how the resources will be distributed and allocated so as to enable UNE life to gain competitive advantage. In simple terms, a company’s strategy must also establish where the product market should focus. Furthermore, a well-stipulated strategy encompasses the scope of the organization, the goals and objectives, resource allocation and deployments, sustainable completive advantage, and the synergy of the organization (Root 3, 2015). UNE life is an organization that tries to make the students life in campus easier in terms of meals, booking of gowns, entertainment as well as fitness services (UNE life, 2015). A proper marketing strategic plan will, therefore, ensure that UNE life attains its objectives through appropriate allocation of resources to gain competitive advantage.

Relevance of the mission, smart objectives and hierarchy of strategies

Mission Relevance

UNE life’s mission enables it to focus and concentrate on what is significant to its stakeholders as well as the organization (Kokemuller, 2015). In other words, a mission statement describes the basic organization’s purpose by explaining why in the first place UNE life is unique in its services and their scope of operation. In this case, UNE Life focuses on enabling the students experience campus life by helping them to relax, be entertained, celebrate; stay fit and take care of their issues in business (UNE life, 2015).

Smart objectives

UNE life’s SMART objectives focus on the overall desired accomplishments levels of the organization. Additionally, SMART approach in marketing is employed as a blueprint for establishing essential and marketing campaigns (Root 3, 2015). UNE life focuses on specific marketing objective by ensuring that each and every product they offer has its portal on their website. To establish the importance and success of a strategic marketing plan, it is of utmost importance that the organization should have goals to measure as well as a milestone (Root3, 2015). In other words, UNE life uses the number of sold units and the total revenue realized by intending to offer 30 percent more services than the preceding year. Additionally, UNE life has made this objectives realist by ensuring that their expectations do not overwhelm their historical results in terms of sales and average revenue (UNE life, 2015). Moreover, the objectives of UNE life are time-bound because they have an event calendar that shows specific ongoing events in the campus. By so doing, they are able to analyze the real results on the ground versus the projected results within a specified period so as to enable the organization to make some adjustments towards the strategic plan objective (Root 3, 2015).

Hierarchy of strategies for UNE life

UNE life is bound by three levels of strategy that include the corporate strategy, business level strategy, and the functional strategy. In this case, UNE life ensures that its corporate strategy is functioning by concentrating on the scope of the organization, resource allocation and distribution in the organization (Granger, 2015). Corporate strategy is therefore achieved through UNE life’s technical compatibility, ensuring similarity in their customer and making sure that there is a similarity in the customer’s behavior patterns (ANZ, 2015). By so doing, they are in a position to achieve their sole mission that is making campus life easier and enjoyable. Additionally, UNE life ensures its business level strategy is functioning by concentrating on sustaining competitive advantage through advertisements and event promotions, overall cost leadership, and differentiation (Granger, 2015). Moreover, UNE life should therefore fully focus on campus life making so as to achieve its functional strategy. By so doing, it will be able to accomplish the objectives of the firm within the campus market.

UNE life’s Porter’s five competitive forces and the strategic fit of prospector/ reactor/ analyzer/ defender

Porter’s competitive forces

UNE life is affected by stiff competition in the market from those organizations offering similar services in the present market. For instance, UNE life specializes in selling second-hand books that can as well be bought in the streets black market at the cheaper price (Adapa, 2015). By so saying, it means that, since there is minimal product differentiation and high investments in terms of second-hand books and institutions offering hiring of gowns services, UNE life will continue getting competition from present competitors such as the University of Minnesota.

Moreover, there is also the stiff competition that is preventing the emergence and entry of new organizations in the market. Some of the factors that prevent the entry of firms such as UNE life in the dominant market include; first, the existence of large economies of scale as well as the learning effects makes product differentiation for the new firms in the market difficult (Adapa,2015). Second, UNE life may also incur threats in terms of difficulties in ensuring that its products and resources are distributed across the campus. Third, there is also a threat that occurs in terms of strong capital requirements at the outset of production (Adapa, 2015). In other words, UNE life burst into the market is made difficult by factors that prevent the entry into the market. For example, Melbourne city offers some of the best recreational services that may offer stiff competition to UNE life given the fact that Melbourne city of Australia has the large capital accumulation that UNE life.

UNE life is also threatened by the conditions stipulated by the product suppliers. By so saying, it means that the cost associated with changing suppliers in case of product change is always high. Moreover, the substitutes of the existing supplies are also high making the forward integration of UNE life more difficult (Adapa, 2015). For example, the Supplies of the Brattle Book Shop that is located in Boston may be much cheaper that the ones were supplying at UNE life making competition in terms of prices difficult.

Customers also play a vital role in the threats that are affecting UNE life (Flat world, 2015). Additionally, the level and the extent at which the customer’s concentration impacts on the product determine the product importance in terms of performance. Moreover, the buyer profitability also makes UNE life products such as second-hand books, hiring of gowns and graduation facilities such as meals to incur a backward integration (UNE life, 2015).

The products of UNE life are also threatened by products that exist in the market that virtually serve the same function. In other words, this substitute product establishes a ceiling on the sales that puts pressure on product prices whenever the supply demand exceeds (Adapa, 2015). Therefore, this substitute makes the overall volume sales and the profitability of UNE life to drop tremendously.

Market and industry attractiveness through macro and micro level analysis

It is universally acknowledged that industries and markets should be assessed at both Micro and macro levels(ANZ, 2015) The macro-environmental of any business organization entails the business environmental conditions such as technological factors, demographic factors, socio-cultural factors, regulatory and the natural environment. Additionally, the micro environmental factors entail all those individuals that make up the industry that include; the companies and customers (Oxford, 2015)

UNE life’s Macro-environment

The UNE life target customers are mostly proactive youths in campus (UNE life, 2015). Additionally, most of these campus students likes to stay fit, relax with their peers and friends as well as getting entertained. Being a university business, UNE life experiences diversity in cultural values, beliefs, and norms which are good for business. In other words, the social-cultural trends experienced in The UNE life business vary depending on the attitudes, values and individual behaviors (Adapa, 2015). Moreover, the economic environment of UNE life is determined by the income of the campus students, interest rates on their products, the tastes and preferences of the campus students and the UNE life’s overall impact on the economic health (Oxford, 2015). Furthermore, the increasing rise of internet retailing, the powerful implications on the regulatory environment in which firms operate make up the regulatory environment of UNE life (UNE life, 2015). UNE life, therefore, should concentrate in an establishment of environmental friendly products that will not require the heavy employment of fossil hence reducing the effects of global warming. However, UNE life incus some challenges when it comes to sampling of the relevant market which entails measuring the customer growth rates and market size. Furthermore, considering the products and customers that result in high revenues makes UNE life to incur a dilemma when it comes to the definition of their company such that, is it narrow or broad?(Adapa,2015)

UNE life Micro level environment

Micro environment entails offers that increase the customer base, identifiable set of customers, the needs of customers and other segments of the market that the current crop of products and services may be able to penetrate (Adapa, 2015). In this case, UNE life offers services in a unique way that makes it hard for other organizations to duplicate. For instance, their gym is well furnished with the facilities that are a necessary fit for the youth in Campus (UNE life, 2015). Moreover, their meals arrangement is developed in superior organizational processes and abilities that make it difficult for other organizations entering the market to imitate or rather duplicate.

To curb some of the consequences of Macro and Micro environment, UNE life must concentrate on the positive and negative impacts as far as profitability and the market share are concerned. Moreover, it must exercise relevant timing when it comes to changing their suppliers as well as the quality of their products (UNE life, 2015). Furthermore, UNE life must exercise proper market and industrial segmentation so as to establish a homogeneous segment that is unique from others. By so doing, it will solve the threats associated with the micro and macro environment (Adapa, 2015).

The relevance of the marketing research and the 4 Ps

Marketing research entails the collection, design analysis and reporting of information that is essential in gathering data related to a marketing opportunity or challenge (Flat world, 2015). In other words, UNE life must, therefore, concentrate on research objectives, research approaches, data sources, search designs and planned analysis when it comes to their product differentiation and customer segmentation (Khan, 2015). By so saying, their Gowns services should be planned in such a way that, the students can obtain them in advance before the day of graduation.

The client’s sales and contact should be carried out so as to enable UNE life to disseminating real-time product data that will enhance their net sales (ANZ, 2015). Additionally, the choice of products depends on the calendar events in the campus. For example, Gowns are distributed prior to a graduation ceremony. Through the various advertisements on their official website, the data collected through feedbacks and opinions makes it possible to choose the price of the product depending on the production cost and demand by the students (UNE life, 2015). Moreover, the distribution of their services is done the moment an individual places an order online.

The significance of the overall segmentation, targeting, positioning and differentiation

The UNE life’s market positioning, differentiation and segmentation comprises of distinct subsets of students who have similar attributes and needs that makes them to act in a particular manner towards goods and service offering as well as a marketing program (Sujana, 2015). By so saying, it means that, through its mission of helping students to relax and enjoy the campus life, it can provide what each and every student segment wants irrespective of age, gender, and ethnic origin (Nielsen, 2015). Moreover, UNE life ensures that its products are well positioned to offer competitive advantage through the creation of a unique image in client’s minds (Adapa, 2015). By so saying, it means that, its website is established in such a way that, every time an individual looks for the University of England website, he or she can find the UNE life website as well. However, despite being closely linked, the segmentation process, positioning and target marketing stands independently Therefore, UNE life must ensure that the choices and analysis of student segments are significantly evaluated (Lombardo, 2015). By so doing, they will have prevented the issues concerning the prevailing realities in the market that makes segmentation in terms of population, growth, and micro-segmentation and demographic changes imperative.

The uniqueness or differentiation of goods and services comprises of better and high-quality attributes coupled with better money value (Lombardo, 2015). UNE life’s products such as the gymnasium and entertainment services are setup in a way that the students life on campus can relax, enjoy and keep fit. The rates of payment are student friendly that is one of the main reasons why most students in the University of England prefers UNE life brand as opposed to others like the University of Minnesota. By so doing, UNE life’s products have the reputation for greater convenience, better and wider variety of services and low cost of differentiation (UNE life, 2015). In other words, UNE life must ensure that its products, gowns, meals, gymnasium and entertainment products are differentiated in terms of cost, design, quality and originality so as to position their products into clients purchasing options.

Conclusion

In conclusion, proper marketing strategic plan will, therefore, ensure that UNE life attains its objectives through appropriate allocation of resources to gain competitive advantage. Additionally, appropriate corporate strategies will ensure that UNE life practice effectiveness when it comes to macro and microenvironment. Moreover, with proper segmentation and product differentiation, UNE life will ensure that customers position their products image in their minds when it comes to making choices.

References

ANZ, (2015). The importance of market research. Retrieved from: https://bizhub.anz.co.nz/resources/the-importance-of-market-research.aspx

Charles H. Granger, (2015). The hierarchy of objectives. Retrieved from: https://hbr.org/1964/05/the-hierarchy-of-objectives

Dr.Sujana Adapa, (2015).Marketing strategy and management.

Flat world, (2015). Why market research is vital for business success. Retrieved from: https://www.flatworldsolutions.com/research-analysis/articles/market-research-for- business-success.php

George N. Root 3, (2015). Example of a smart objective for a marketing plan. Retrieved from: mallbusiness.chron.com/example-smart-objective-marketing-plan-11290.html

Jennifer Lombardo, (2015). Market segmentation: why Market segments are important to marketers. Retrieved from: http://study.com/academy/lesson/market-segmentation-why- market-segments-are-important-to-marketers.html

Lisa Nielsen, (2015). Product positioning and differentiation strategy. Retrieved from: http://smallbusiness.chron.com/product-positioning-differentiation-strategy-5078.html

Neil Kokemuller, (2015). Importance of mission, vision in an organization. Retrieved from: http://smallbusiness.chron.com/importance-mission-vision-organizational-strategy- 16000.html

Oxford,( 2015). The impact of Micro and Macro Environment Factors on marketing. Retrieved from: http://blog.oxfordcollegeofmarketing.com/2014/11/04/the-impact-of-micro-and- macro-environment-factors-on-marketing/

Qadar Khan, (2015). Market segmentation. Retrieved from: http://www.thehomeofknowledge.com/the-importance-of-market-segmentation/

UNE life, (2015). Experience campus life with us. Retrieved from: http://unelife.com.au/