Unit 6 Marketing Planning Assignment
Unit 6 Marketing Planning Assignment
Marketing is the essence of any business whether private or commercialized. As a market consists of consumers who tend to purchase certain type of goods or service. In addition to this market is also sub-divided into individual segments each of which are considered as separate markets, so every business help should be able to define their market. Whereas market planning is includes the physical location of the market, size of the market, various segments of market, product, price, and place and promotion decision by the company, etc. for the company to plan in order to bring itself in a perfect market. The Taxi Plan for private hire taxies is of innovative and persuasive. Their main aim is to serve their customers at a fair and honest way. The changing perspectives in marketing planning are for private hire taxi is:
- The production concept: The mangers laying emphasis on this concept will focus on high production efficiency, low cost, and distribution widely and assumption is based on availability of the taxi service and at low cost.
- The product concept: Consumer favours those products which are offering more quality, innovative features, mangers make superior product for example private taxi are made more attractive with superior interiors and innovative features like television installed in taxi to compete with the public taxi services.
- The Selling concept:The selling concept of private hire taxi has also changes to adopt aggressive selling and promotional effort.
- The social marketing conceptis focused on analysing the needs, wants and interest of target markets and delivering desired needs more effective than their competitors. (Chowdhury, n.d.)
1.2 How would you as a marketing manager evaluate the organisation’s capability for planning its future marketing activity
Being the marketing manager of Private hire taxi and as the organisation is facing decline in sales, it has to evaluate the capability for planning its future marketing activity. The organisations capability is its core competence, weakness, strength, behaviour and its resources as well. The organisation in order to prove capability has to utilize its strength properly to overcome its weaknesses. So for future marketing activity planning will evolve the following aspects:
- Capability of finance: The private hire taxi has to establish a financial holding company which would have an approval of financial service agency as limousines, wedding and funeral cars are hired on longer contracts by the intending customers so the private hire taxi service will have to strengthen its financial distribution strong to have more and more luxurious cars in their range.
- Capable technologically:The private hire taxi will have to convert the new technology into its new products which are to be marketed. As the latest health and safety measures being adopted by the private taxi to secure their customers like sometimes taxi catch fire so to avoid this latest technology is being used by the company.
- Known and established properly: It is essential for the organisation to sustain the market conditions on the basis of making its service well known in front of its customers LIKE 24 x 7 private hire taxis being popular in front of customers.
- Being loyal: As few taxi for hire are the well-known company in providing its consistent service to their customers so loyalty would be the result on the parts of the customers for them. (Law commission, 2012)
1.3 What are the main techniques for organizational auditing that you would use and for analysing external factors that would affect marketing planning in your organisation.
The organizational audit can be defined as the objective assurance, independent and consulting activity which is designed to add value and improve the organisation’s operations. It will help to organisation to accomplish its objectives with bringing a systematic, organized approach to improve its risk management techniques, governance and control. Therefore organizational audit can be considered as an activity conducted by an organisation in order to capture the right approach to deal with its operations and overcome its weaknesses as well strengthen its strength much. (UK Essays (I), n.d.) As the private hire taxi are running in loss in its sales of its service so an audit should be conducted for this organisation to again acquire a stable position in market. By audit the essentials for the drivers of the taxi and as well the essential requirements needed to satisfy the customers will be analysed which will help the organisation in improving that weakness and attain more and more potential customers towards it. This will help the organisation to move in a correct direction and being the marketing manager for the organisation since last six months, I have realized that the company in addition to have a market plan should assess its capabilities too and have a regular audit session so that the emerging requirements at the company’s end can be met. The organisation with the help of auditing will be able to perform in a much efficient and effective way as never before or as the situation is demanding to have an audit for the same.
1.4 Carry out organizational auditing and analysis of external factors which affect the marketing planning in the given situation in your organisation.
Organizational auditing has certain similarities with the financial audit which is an appraisal of the existing activities of market. This audit helps in assessing the past and present performance and a basis for evaluating the future courses of action which could be possibly met. As the business environment is constantly changing so the market audit is to be used as a reference tool in analysing changes in the external environment with respect to own internal experiences of business.
The external factors which are divided into three groups as competitive environment, the economic environment and market environment of the organisation, such factors are to be included in the audit as they will allow the organisation to compete , affect its competitors and as well will allow to compete where one cannot. With the help of the net device we can use internet which will help in analysing many sources of information on the competitors and environment, in this context company reports are a good source of acknowledging the information based on competition.
The external factors which have affected the marketing planning in a given situation are:
- Economic: This includes the employment levels, income levels, economic growth rate and inflation which will affect in making the planning decisions regarding the organisation movement in a given direction. As in situations of inflation the organisation may demand planning of the marketing activities depending upon the purchasing power of the customer’s dependant on the income levels in that situation.
- Political:It will include the tax levels, governments actions, privatization, etc. according to the tax levied by the government on state change, the private taxi companies will not include such taxes in their fair and will allow the customer to pay these taxes in addition to the fair been charged by them. This will be beneficial for the private hire taxi business to save their amount in paying such taxes but will somehow effect the customer to again go for hiring the same taxi service.
- Cultural and social:These factors can impact depending upon the demographics like population, age, distribution, etc., lifestyles and cultural values (changing beliefs, family values, skills, etc.) These have an impact on the taxi services as the services would be analysed by the people depending on their beliefs which they had made on the use of the services at once so the organisation has to direct its actions towards planning a strategy which will require the people or the prospective customers to call for their services again. The use of service will also depend on the age and the type of population, the organisation is demanding for the use of its services.
- Technological: This factor requires that the organisation should base its planning strategy on the basis of the latest technology which has arrived in the market and which has been in use by the competitors of the organisation. It also includes Internet which allows the customer to search for the best services and the contact information of the taxi for hire on the net and about the number of recommendations been made on the organisation based on its prompt services. Along with the help of the telephonic services which are being readily used by the prospective customer in order to get the detailed information about the organisation to contact with.
- Environmental: This factor is based on the environmental aspects, to keep the surrounding clean and safe. The organisation for private hire taxi needs to analyse whether there vehicles are not rendering pollution in the city and whether they are safe from having any side effect of the climate change like in heavy rains many vehicles start creating problem and many even skid due to inappropriate tyres, etc.
- Legal: This factor revolves around law of the country which is a compulsion to be applied on the organisations whether private or public. The organisation has to abide by the laws of the nation and to have well trained drivers with appropriate licenses and should have the driving skills depending on the rules of the nation. All these decisions are to be taken in consideration by the organisation in order to have effective market.
In addition to this the organisation is also able to analyse the competitive environment on the basis of the external audit as it will make analyse how competitive the market is and what the competitors are likely do depending upon the state or the condition so arising in the organisation. The company is able to evaluate the threat of the new entrants, the threat of the substitute products, the bargaining power of the suppliers and the customer, who are the exact competitors, who are the competitors who largely affect the operations of the organisation, about their size, their reputation in market, about their capabilities of producing the services and distributing them as well, whether the competitors are aspiring to give additional service to its customers along with the general one, what is the marketing strategy being adopted by the organisation as of diversified nature or some other type, finally analysing their SWOT so as to strengthen my own in comparison of my competitors and this will lead to increased sales. (The Chartered Institute of Marketing, n.d.)
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