“Houzit” Marketing management plan Essay

Marketing objectives The market for home-wares in Brisbane is estimated last year at $175 million per annum with an anticipated growth rate of the percent in the coming year. Here I outline the following marketing objectives: 12% market share (up from 11%) Increase in sales by 8.5% over last year’s result No expansion stores are planned during this phase of consolidation and on average the stores achieved $24,680 per week for the year. Marketing activities Here we present the marketing activities that show potential for the organization’s growth in seasonal demand that occurs during this period. Increased marketing – focus on magazine advertising and PR In-store promotions– in-store displays will feature advertising visuals and ink the featured products with other areas in Houzit’s assortment. Web based promotions- the company’s web page will also carry the advertising visuals on the home page and will use the PR copy in article marketing on popular article content sites. The webpage will be targeted towards the key words found in the PR article and featured in the advertising of ‘stylish bathroom’ and ‘exotic mirrors’. These keywords will also be secured via pay-per-click traffic directing. Focus in bathroom fittings and mirror categories with linkages to the other two categories of bedroom fittings and decorative items. Key driver in achieving the marketing objectives is through the opportunity of having advertising space together with a PR write up in one of the leading home-ware magazines and their website. For the next six months the marketing plan calls for increased marketing to match the growth in seasonal demand that occurs during this period. Integration of organizational activities Advertising visuals and links will be displayed throughout at Houzit’s assortment and web homepage. Company Web address line of ‘Find us at http://www.houzit.com’ will be displayed on all materials. PR copy- used in article marketing on popular article content sites. The webpage will be targeted towards the Key word throughout. These keywords will also be secured via pay-per-click traffic directing. Distribution and pricing Online retailing a new distributional channel- Company have decided to update the webpage so that the customers can order and pay online. The Price of imports will be monitored against competitors and exchange rate on daily basis because imports were usually an area of high margins for the company and any loss there could be a serious issue. KPIs Market share = store sales/total estimated market sales Marketing cost of customers acquisition = cost of marketing / Total new business acquired Delegation of roles and responsibilities Marketing manager – enjoy taking responsibility for the in-store promotions because it keeps me connected with key personnel and trend in merchandise category sales. Tony – he is a specialist search engine optimizer and webpage designer Marie – advertising /PR Lamberts consulting – market research and marketing audits Communication Strategies Marketing communications is a rather generic term for a very important function of marketing. Communicating and disseminating information has become increasingly important. While public relations are a form of marketing communications, the role encompasses much more, including content development, product positioning and brand messaging. Thus we will use the below methods to communicate effectively:- 1. Shared emails 2. Formal meetings 3. Informal meetings 4. Team visits – stores 5. Progress chart Assessment Task 2 – Case study analysis Staffing support plan Strategies: 1. Setting goals Will organise weekly meeting by providing to employees where can achieve greatest return that to work toward and has the potential to increase productivity in the workplace. 2. Providing Feedback We believe that consistent feedback from mentors and coaches not only helps improve employee performance, but it ensures employees are not caught off guard when disciplined for poor performance. 3. Celebrations and Rewards Celebrations and rewards will build respect for the mentor or coach and help employees see that the individual is not only there to criticize but also to share in employee success. 4. Collaboration Managers will provide for new employees to collaborate with as they begin working with a Houzit. I believe that managers help employees learn to navigate an organization and how to complete tasks effectively. Resources Marketing outcome model: ROI – Return on investment Feedback Providing the feedback using the Star model: An easy way to remember the elements of effective feedback is to use the acronym STAR. ST – Situation or Task. What was the problem, opportunity, challenge or task? A – Action. What was said or done to handle the situation or task? Remember to provide developmental feedback and areas for improvement. R – Result. What was the impact of the employee’s efforts, and how did their actions influence the end result? Here’s an example of using the STAR model to provide positive feedback. ST – â€Å"Thanks for completing the spreadsheet on resource allocation I requested.† A – â€Å"You provided all of the data I asked for and got it to me on time.† R – â€Å"I was able to bring the data to a  planning meeting with our director, where we used it to create a strong resource plan for next term.† Scenario 1 One-on-one coaching will include Role-play activities Testing and reviewing answers Meetings to encourage the employee to perform and homework in which answers are reviewed The manager provides the individualized coaching to her employee. May set up a time line with preset intervals to review progress Scenario 2 Performance measurement and Corrective actions such as: Ask the employee to rate themselves Provide a written performance review to the employee Make sure that can back up any positives and negatives with specific examples Conduct a review meeting within 48 hours of the written performance review Note and file any employee comments and then ensure that the final version goes on file. Customise the one-on-one coaching template of Houzit company’s requirements and hand to employees to complete prior to a performance review. Identifying weaknesses: To evaluate our employees’ weaknesses we will consider factors such as: Tardiness Communication problems Lack of enthusiasm or drive Poor comprehension of materials or program Difficulty getting along with others. We will work with each employee to come up with measurable goals for improvement. For example: devise a system to track each employee’s progress and check in regularly. If an employee has a problem with attendance or tardiness, for instance, create an attendance chart and offer positive reinforcement, such as praise or recognition for good attendance each week. For employees with technical problems or a lack of understanding, offer training on computer programs or systems. Other ways to track employees’ progress may include having employees keep track of their daily or weekly  sales numbers. For more subjective areas, such as people skills, consider holding office seminars on topics such as diversity, compromise or communication or paying for employees to attend training. Offer incentives for the training — such as lunch for all participants or a certificate. Assessment Task 3 – Marketing performance report Marketing objectives The estimate for home-wares is currently $199 mln p.a up from $175 mln This year’s predicted growth 10% and expecting to continue for the next 5 years Average weekly sale has grown $28,200 although expectation was 8.5% growth on $24,680 Market share targeted 12% Last 6 months marketing expenditure: Advertising- $250,000 PR- $30,000 In store promotion- $60,000 Internet marketing-$100,000 The cause of the profit increase was we have successfully implemented the new strategies by actively engaging to achieve the marketing objectives. There was a seasonal demand that occurred during the last year by giving growth in share from10-12%. Increase in share will be remained in next force able 5 years, which is giving more opportunity to Houzit stay in the market specifically continue to focusing on magazine advertising and PR, together with in store promotions. Also, we should invest more on web based promotions in the next marketing period. With a growing market we should maintain the market share to bring to the Houzit solid and controllable growth. Targets We should maintain our high performance as much as we can. There will be a large growing increase in interstate migration consequently the home-wares and the building activity for at least next five years. REFERENCES 1. Joshi, Rakesh Mohan, (2005) International Marketing, Oxford University Press, New Delhi and New York 2. Philip Kotler, Philip.; Kevin Lane Keller (2006). Marketing Management, 12th ed.:).Pearson Prentice Hall 3. Clancy, Kevin J.; Peter C. Kriegafsd (2000). Counter intuitive Marketing. The Free Press 4. Porter, Michael (1998). Competitive Strategy (revised ed.). The Free Press. 5. Kotler, Philip.; Kevin Lane Keller (2006). Marketing Management, 12th ed. Pearson Prentice Hall 6. Ries, Al; Jack Trout (2000). Positioning: The Battle for Your Mind (20th anniversary ed.) 7. Porter, Michael (1998). Competitive Advantage (revised ed.). The Free Press