'Develop marketing strategies Essay\r'

'The assessment labour is collect on the date specified by your assessor. Any variations to this array must be approved in musical composition by your assessor. Submit this document with any(prenominal) mandatory evidence attached. See specifications below for details.\r\nPerformance objective\r\nIn this assessment task you atomic number 18 undeniable to reexamine and evaluate marketing opportunities for an face and direct marketing activities that reflect the strategic directions of the organisation.\r\nAssessment commentary\r\nFor the organisation issuelined in the case moot provided, identify two marketing opportunities and evaluate sever completelyy probability for risks, strengths, weaknesses and alignment with organisational objectives. After you go reassessmented the opportunities, destine the best representting opportunity for the organisation and bring on marketing strategies, approaches and activities to take receipts of the opportunity.\r\nProcedure \r\nYou ar required to submit a report that addresses all of the elements listed in the procedure. The report should be structured employ the headings below.\r\nOrganisational overview\r\n1. Develop an organisational overview that:\r\na. outlines the strategic direction and organisational objectives b. outlines the current size, capabilities and resources of the organisation, including any notable strengths and weaknesses c. identifies any gaps amongst the objectives, and the current capabilities and resources.\r\nOpportunities\r\n1. happen upon two marketing opportunities that meet the objectives and evaluate the risks and benefits of separately opportunity. 2. Recommend the opportunity that best addresses organisational objectives and: a. develop a marketing mix schema that fits within the capabilities and resources of the organisation b. describe how your strategies align with the strategic direction of the organisation, and micturate justifications for your infusion c. d etail a marketing execution review strategy using an appropriate jibe (competitive analysis, life cycle model, value chain analysis, etc.) to review the performance of the organisation against marketing objectives d. include the prosody to be accustomd in measuring marketing performance.\r\nTactics\r\n1. Detail the tactics necessary to consume the strategy you have outlined, including:\r\na. scheduling of activities to enact the strategy\r\nb. costing\r\nc. accountabilities and responsibilities\r\nd. a plan for coordinating and observe scheduled activities including KPIs.\r\n2. Outline any legal and ethical requirements that impact on the selected tactics. 3. Describe how the tactics fit within set organisational resources and capabilities.\r\nSpecifications\r\nThis assessment can be completed in your own time, as you resume by dint of the related topics in either the assimilator Workbook, or low the guidance of your assessor. The assessment is due for completion at the completion of Section 2 of the Student Workbook unless another submission time/ order is suggested by your assessor. Check with your assessor whether it is appropriate to use a computer for the submission of the report (electronic), or if the assessor requires a hardcopy (printed) version. You must provide:\r\na report containing documents that support all of the instructions outlined\r\nin t he procedure above. Your assessor lead be looking for whether you have:\r\nidentified a suitable marketing opportunity\r\nconducted inquiry to assess and analyse the market\r\nprepared a report outlining your marketing strategies to best take advantage of the identified market opportunities organised your report under the headings suggested in the procedure.\r\nAdjustment for distance-based learners:\r\nNo variation of the task is required.\r\nA follow-up interview may be required (at the discretion of the assessor). Documentation can be submitted electronically or posted in the mail.\r\n qu ality study\r\nHouzit is a chain of homewares caudexs in Sydney that secernate in bathroom fittings, bedroom fittings, mirrors and decorative concomitants. They soon have 15 stores outspread across the great Sydney area, with all stores being managed and coordinated from their head perspective in Milton. You have recently been appointed as the marketing manager and must now review the organisation and devise marketing strategies that willing playact Houzit towards its strategic goals. The CEO has also asked you to consider roughly marketing opportunities that may assist Houzit in compass its goals, and provide him with brief summary evaluating two alternatives, including the benefits and risks associated with each option, and making a recommendation for the opportunity approximately likely to produce results. You have gleaned the pursuance learning about Houzit:\r\nHouzit is close to entering its fifth family of operation; offering a wide rate of home-ware items on e asy-to-manage payment terms and supplies a triplet year guarantee on every item sold. The typical goat customers have the following characteristics: advanced(a) people who are house proud\r\nshoppers who will drive to an easy-to-access store\r\ncustomers who require payment plans to spread their commitment over an extended period renovators and newfangled home builders\r\n20â€50 year olds.\r\nHouzit takes the following trends and focuses its efforts on them. Quality †Preference for exalted up quality items is increasing as customers are\r\nlearning to regard differences in quality. Unique items †Customers want homewares that stand out from mass-produced, low quality items. Selection †People are demanding a larger selection of choices, they are no longer accepting a restrict selection of homewares. The typical Houzit store has the following characteristics:\r\nLocation †A commercial, suburban neighbourhood, or urban sell district.\r\n form †Brigh t and functional.\r\nSize †1,000â€1,500 m2.\r\nEmployees †15â€20 luxuriant time, plus several casuals\r\nTypes of transactions †60% cash, 40% on long-run repayment plan.\r\nSales break-ups between the existing Sydney stores reveal:\r\n30% bathroom fittings\r\n35% bedroom furnishings\r\n20% mirrors and decorative items\r\n15% illume fixtures (recent addition).\r\nA new customer’s commencement ceremony purchase is generally of mirrors and decorative items and this gives us the opportunity to sign them up to our loyalty program. In a brief discussion with the CEO, you asked about the changes taking assign in legislation that could impact on Houzit’s operation. The CEO explained: ‘There is a big release by governments on the issue of sustainability. This focuses mostly on environmental issues of waste management and energy conservation. Houzit stores have been deliberately designed in the past to be bright and comfortable places to shop. Th is means a of import cost in electricity usage to guide the lights and the air-conditioners. With the new regulations we are going to have to muster ways to still provide customers with what they want without the last electricity usage.’\r\nStrategic plan (extract)\r\nVision\r\nHouzit will be a national retail injury, supply to the needs of home makers with a range of unique, high quality homewares made accessible to all through our easy to manage payment plan.\r\nMission\r\nBy 2020, Houzit will have a significant retail presence in homewares in every Australian capital city, starting with 15 stores in the great Sydney area\r\nand growing to 100 Australia wide.\r\nObjectives\r\n1. Increase gross revenue from $15million per year to $20million per year in the next threesome years. 2. Increase our loyalty customers list from 10,000 to 15,000. 3. Establish brand recognition in Sydney so that at least(prenominal) 1 in 3 people recognise our brand in a random survey taken in 18 months time.\r\nSWOT epitome\r\nStrengths:\r\nExcellent staff who are highly apt and knowledgeable about homewares. Great retail blank that is bright, functional and efficient for a commercial urban district. High customer loyalty among repeat customers.\r\n admixture of offerings that exceed competitors’ offerings in quality, range and accessibility.\r\nWeaknesses:\r\nA limited marketing budget to develop brand cognizance due to the lack of critical mass and store cover. The struggle to continually fund the growing long-term repayment plans taken out by our customers.\r\nOpportunities:\r\nA growing market in a high growth area with a significant ploughshare of the target market still not alive(predicate) of Houzit’s offer. Increasing sales opportunities outside of our target area †greater Sydney.\r\nThreats:\r\n disputation from local self-sufficing retailers can drive down prices, as proprietor operators have lover overhead costs than our staff-run stores. Competition from national chains moving into the Sydney market. A discipline in the economy reducing customer’s disposable income spent on homewares.\r\n'