Develop marketing strategies Essay

The assessment depute is cod on the date stipulate by your tax assessor. Any variations to this ar throw upment must be approved in writing by your assessor. Submit this document with any required conclusion attached. See specifications below for details.Performance objectiveIn this assessment task you are required to review and pronounce marketing opportunities for an organisation and arrive marketing activities that reflect the strategic directions of the organisation.Assessment descriptionFor the organisation outline in the case study issued, identify two marketing opportunities and evaluate each opportunity for risks, strengths, weaknesses and alignment with organisational objectives. After you ca-ca reviewed the opportunities, select the full(prenominal) hat fitting opportunity for the organisation and develop marketing strategies, approaches and activities to take emolument of the opportunity.ProcedureYou are required to submit a report that addresses altogether of the elements listed in the procedure. The report should be structured using the headings below.Organisational overview1. Develop an organisational overview thata. outlines the strategic direction and organisational objectives b. outlines the actual size, capabilities and resources of the organisation, including any notable strengths and weaknesses c. identifies any gaps between the objectives, and the current capabilities and resources.Opportunities1. Identify two marketing opportunities that meet the objectives and evaluate the risks and benefits of each opportunity. 2. preach the opportunity that best addresses organisational objectives and a. develop a marketing mix outline that fits within the capabilities and resources of the organisation b. describe how your strategies align with the strategic direction of the organisation, and shed justifications for your selection c. detail a marketing performance review strategy using an portion tool (competitive analysis, life cycl e model, value drawing string analysis, etc.) to review the performance of the organisation against marketing objectives d. include the metrics to be used in measuring marketing performance.Tactics1. Detail the tactical maneuver necessary to implement the strategy you have outlined, includinga. scheduling of activities to enact the strategyb. addressingc. accountabilities and responsibilitiesd. a plan for coordinating and monitoring scheduled activities including KPIs.2. describe any legal and ethical requirements that uphold on the selected tactical maneuver. 3. Describe how the tactics fit within determine organisational resources and capabilities.SpecificationsThis assessment can be correct in your own time, as you work through the related topics in either the Student Workbook, or under the guidance of your assessor. The assessment is due for completion at the completion of Section 2 of the Student Workbook unless another(prenominal) submission time/method 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 providea report containing documents that support every(prenominal) of the instructions outlinedin t he procedure above. Your assessor will be looking for whether you haveidentified a desirable marketing opportunityconducted research to assess and analyse the market inclined(p) 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.Adjustment for distance-based learnersNo variation of the task is required.A follow-up interview may be required (at the discretion of the assessor). Documentation can be submitted electronically or posted in the mail.Case studyHouzit is a chain of homewares line of descents in Sydney that specialise in bathroom fittings, bedroom fittings, mirrors and decorative items. They currently have 15 stores public exposure across the greater Sydney area, with all stores being managed and incorporate from their head office in Milton. You have recently been appointed as the marketing manager and must now review the organisation and cabal marketing strategies that will move Houzit towards its strategic goals. The CEO has also asked you to fancy some marketing opportunities that may assist Houzit in reaching its goals, and provide him with outline summary evaluating two alternatives, including the benefits and risks associated with each option, and making a pass for the opportunity most likely to produce results. You have gleaned the following development about HouzitHouzit is close to entering its fifth year of operation pass a wide grasp of home-ware items on leisurely-to-manage payment terms and supplies a three year guarantee on every item sold. The true address customers have the following characteristics sophist icated people who are star sign proudshoppers who will promote to an easy-to-access storecustomers who require payment plans to spread their commitment over an extended period renovators and sassy home builders2050 year olds.Houzit recognises the following trends and focuses its efforts on them. Quality Preference for graduate(prenominal) quality items is increasing as customers arelearning to appreciate differences in quality. Unique items Customers want homewares that stand out from mass-produced, low quality items. plectrum People are demanding a larger selection of choices, they are no longer accepting a limited selection of homewares. The typical Houzit store has the following characteristicsLocation A commercial, suburban neighbourhood, or urban retail district.Design Bright and functional.Size 1,0001,500 m2.Employees 1520 full time, summation several casualsTypes of transactions 60% cash, 40% on long-term refund plan.Sales break-ups between the existing Sydney stores reveal30% bathroom fittings35% bedroom furnishings20% mirrors and decorative items15% lighting fixtures (recent addition).A new customers first 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 place in legislation that could impact on Houzits operation. The CEO explained There is a big contract by governments on the issue of sustainability. This focuses mostly on environmental issues of furious management and energy conservation. Houzit stores have been deliberately designed in the away to be bright and comfortable places to shop. This means a significant cost in electricity usage to run the lights and the air-conditioners. With the new regulations we are sacking to have to find ways to sedate provide customers with what they want without the high electricity usage.Strategic plan (extract)VisionHouzit will be a national ret ail brand, catering 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.MissionBy 2020, Houzit will have a significant retail presence in homewares in every Australian capital city, starting with 15 stores in the greater Sydney areaand suppuration to 100 Australia wide.Objectives1. Increase sales from $15million per year to $20million per year in the succeeding(a) three years. 2. Increase our loyalty customers list from 10,000 to 15,000. 3. Establish brand apprehension in Sydney so that at least 1 in 3 people recognise our brand in a random visual sense taken in 18 months time.SWOT AnalysisStrengthsExcellent ply who are highly skilled and knowledgeable about homewares. Great retail space that is bright, functional and efficient for a commercial urban district. mellow customer loyalty among repeat customers.Assortment of offerings that exceed competitors offerings in quality, range and accessi bility.WeaknessesA limited marketing budget to develop brand sensory faculty 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.OpportunitiesA growing market in a high result area with a significant percentage of the target market still not aware of Houzits offer. Increasing sales opportunities outside of our target area greater Sydney.ThreatsCompetition from local independent retailers can drive down prices, as owner operators have lover overhead cost than our staff-run stores. Competition from national chains moving into the Sydney market. A slump in the economy reducing customers disposable income spent on homewares.