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. The”4ps” 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 aˆ¦
“Sustainable environmental legacies, such as
aˆ? Rehabilitated and revitalized sites,
aˆ? increased environmental awareness,
aˆ? 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 people’s 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
1) Vital information for West Midlands business
2) 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 P’s
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 ODA’s
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
government’s 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.
Potter’s 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 seller’s 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 competitor’s 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 data’s 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 student’s 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
