Question
Identify and evaluate marketing opportunities to determine whether they can meet organizational objectives. In this assessment activity, you are required to identify and evaluate two
Identify and evaluate marketing opportunities to determine whether they can meet organizational objectives. In this assessment activity, you are required to identify and evaluate two (2) marketing opportunities for the mentioned above organization. You must also determine whether these opportunities meet the organizational objectives.
1. Identify two marketing opportunities and analyze if they meet organizational objectives. Complete the table below with the required information.
Marketing opportunities | Opportunities meet the organisational objectives |
2. In this part of the assessment activity, you are required to research potential new markets for the organization and complete the table below:
Potential new markets | new markets meet the organisational objectives |
3. In this part of the assessment activity, you are required to consider strategic marketing approaches and discuss the following:
Strategic marketing approaches | Explanation |
Increasing market share | |
Developing new markets | |
Developing new products | |
Diversification |
4. In this part of the assessment activity, use a suitable methodology such as gap analysis, market or marketing analysis or competitor analysis and identify and decide on two marketing opportunities to focus on and investigate further.
In your analysis, consider types of markets and aspects of the marketing mix, such as distribution, products, and types of promotional activities, for example:
a. e-commerce
b. business-to-business marketing
c. direct marketing
d. ideas marketing
e. marketing of goods
f. public sector marketing
g. services marketing
h. telemarketing.
5. Estimate the effect of the two marketing opportunities on the business, for example:
a. effect on sales volume
b. growth
c. market share
d. profitability.
6. Use numerical analysis or statistical methods to forecast effects. For example, use the least-squares method to estimate demand. Use estimated demand to calculate the effect on sales and profitability.
7. Explore and develop entrepreneurial, innovative, or creative options (one for each opportunity) to apply the marketing opportunities in the context of the organization.
For example, if you identify an e-commerce opportunity, determine how to apply the e-commerce opportunity to the organization including aspects such as media, web design to appeal to target markets, integration with existing operations, marketing strategy, and overall strategic directions
Case study:
LMSx is a revolutionary new learning management system. The system is designed by Sysomos pty. Ltd. It is a cloud-based system and provides full administrative control over the following features and characteristics:
- online-enrolment,
- marketing,
- course setup,
- course delivery,
- student profiles,
- student attendance, and
- student progress.
It has a number of other benefits such as:
- Easy-to-use
- Easy setup
- Comes up with a detailed manual
- Easy-to-learn
- Easy-to-customise
- User-friendly design and interface
- Secure and provides Advanced SIS (Safety Instrumented System) integration
- Scalable
- Focuses on the end user
- Offers time to value five times faster than its competitors
- It offers a 90-days trial
- 24 hours of the free live tech helpline support
- Setup and management can be completed, free-of-cost, by LMSx technicians
- It provides mobile and offline access
- It offers a payment plan to its customers
- It provides a range of different options to select from regarding per-registered user pricing model.
- It is free for not-for-profit organisations and schools.
There are currently 700+ learning management systems in the international market, but no one can offer online-enrolment, 24 hours of a dedicated free helpline or a free 90-days trial of its full features as LMSx offers.
Organisation's vision is to provide "quality LMS at an affordable price to help organisations achieve success".
The review of the previous international marketing evaluation documents, strategic plans and marketing plans have provided the following information:
Opportunities and issues
As this is a new entrant in an already highly competitive industry, very few organisations are aware of LMSx learning management system. It does not have any existing customers. Management has spent an enormous amount of money on designing and developing a unique product and has now very little money to spend on marketing and promotions. The business and its products are not yet endorsed by reputable companies or brands. It also lacks a number of features such as web-conferencing, third-party integration and provision of or engaging gamification for learners. There is an immense threat from open-source products.
A number of businesses and organisations are however at present are looking for a learning management system that can provide online enrolments, flexible payment plans, is easy to set up and user-friendly.
Sales forecast
Target customers
The typical target customers have the following characteristics:
- Middle-sized businesses (20-1000 employees) which have distributed sales force, several subsidiaries or a retail chain, or which hire high volumes of the temporary working force.
- Education agencies that offer different forms of testing before or after their training programmes as a part of their activities. These agencies very often use Learning Management Systems which have costs of access, or are limited by time, which brings even more additional costs. These companies need both common uses of LMS for the test execution as well as modules used for Skills Gap Analysis or Questionnaires.
- Educational agencies or coaches who need to operate more independent systems either because of customer data privacy or webpage design alignment.
- Educational agencies which prepare their courses and they want to offer them through their online shop.
- Schools and public sector who are looking for easy adoption educational e-Learning software. As users (students) primarily focus on the content, easy use and intuitiveness are the essential keys to getting excellent knowledge results.
- Small to medium size training centres, language schools, craft centres, ski academies, and companies providing external training.
- Companies worldwide thanks to language mutations.
Industry Trends
- Learning management systems as a performance support tool (PST)
- Learning management systems with video/web-conferencing support
- Learning management systems with online enrolment facilities (to enrol domestic and international students).
- Learning management systems that supports third-party applications and plugins
The situation and your role
You have recently been recruited as the Marketing Coordinator of Sysomos Pty. Ltd. Your role is to:
- Devise the marketing strategies that meet the organisational objectives
- evaluate the risks and returns of selected marketing strategies
- ensure the strategies align with the organisation's strategic vision and direction
- Plan of marketing tactics those meet legal and ethical guidelines set by the organisation
- Prepare and present marketing plans which meet organisational, as well as marketing, objectives and incorporates marketing approaches and a strategic marketing mix.
Organisation currently has 20 full-time staff members and 15 part-time developers and technicians. The organisation is planning to hire 10 more sales team members and 2 marketing team leaders to support you in the marketing and sales department.
LMS resources and staff requirements
- Software developers
- Expert technicians
- Investors
- Helpline experts
- Sales and marketing
- Project managers
Extract from the Policy framework: Marketing and Brand Strategy
You have conducted your initial research on marketing and brand strategy and identified that:
- Prospects and customers do not know exactly what Sysomos Pty. Ltd. delivers through their LMSx
- Increasing visibility or generating quality leads: The difficulty of acquiring customers because of poor brand awareness and highly competitive industry.
- Lack of resources in terms of budget, people and time
- Choosing the right social media platforms for the business
- Maintaining ambitious publishing schedules: Producing and delivering content takes a lot of time
- Providing the ROI on the marketing activities
- Identifying the right technologies
- Training the team
- Focusing too broadly or narrowly
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