Monday, March 16, 2015

Marketing Plan Toowoomba chamber of commerce

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Marketing Plan
Toowoomba chamber of commerce







Executive summary
Toowoomba chamber of commerce provides networking events in order to develop voice of business for them. External environmental factors such as PESTEL factors are crucial in order to ensure the favorable external environment in which TCC would develop its business. Micro environmental factors such as Porter’s five force analysis would be important in order to decide the business competitiveness in the market. Finally, stakeholder analysis for TCC provides the overall state of business and competition prevailing in the industry.    















Table of Contents









Introduction
Marketing audit for the organization is an important tool in order to understand the internal business environment and to scan the external business environment prevailing in the particular industry. Based on the marketing audit carried out by an organization it would be helpful to understand overall competition prevailing in the market based on which an organization would decide its strategy so as to attain the marketing objectives outlined by the organization. In the present context Toowoomba chamber of commerce is looking for the marketing advice so as to enhance the number of members. Present marketing plan developed for Toowoomba chamber of commerce would help in order to understand the factors which are affecting overall scenario for the organization for extending their membership plan.
Section-1 Organizational overview
Section-2 Environmental Scan
Environmental scanning is a technique through which various external factors affecting particular activities for the organizations would be analyzed. Environmental analysis for Toowoomba can be divided into two parts i.e. macro environmental analysis which would be conducted through PESTEL analysis and micro environmental analysis which would be conducted by making use of the Porter’s five force analysis. 
2.1 Macro environmental analysis
PESTEL technique is a comprehensive method which provides the analysis of the marketing environment for any organization prevailing in the industry. There are six important factors which would help in order to understand the overall environment prevailing in the industry. Environmental scan for Toowoomba chamber of commerce can be given as under:
·         Political factors: Political factors have strong impact on the overall business environment in which Toowoomba is prevailing at present. Some of the key political factors which can have impact on the overall marketing environment of Toowoomba chamber of commerce would include Federal election 2013, QLD government change, relationship established by the chamber of commerce with councilors & TRC and enterprise named Toowoomba and Surat Basin enterprise etc (Simon, 2011). All these political factors are of high importance for Toowoomba and it is important for the organization to keep track of these factors in order to maintain a balance between these political factors in order to enhance the number of members for the chamber.
·         Economic factors: Economic factors would provide the overall flow of economy and present state of economy based on which businesses can make particular decisions. Some of the key economic factors affecting overall market scenario for Toowoomba chamber of commerce would include business cycle, unemployment rate in the country, interest rate, skytrans service in the Sydney, sectors of growth, currency prices for Australian dollar & its strength and economic growth rate achieved by Toowoomba chamber of commerce etc. All these factors need to be tracked closely by Toowoomba chamber of commerce so that strategy can be devised for the organization for gaining higher number of members (Dev and Don, 2005).
·         Social factors: Social factors would also impact an organization so as to expand their business and some of the vital social factors affecting business for Toowoomba chamber of commerce would include virtual interaction growth, teaming & joint venture, availability of labor forces, social dynamics which region is having at present and communication which is taking place cross  culturally (Collins, 2011). All these factors would define the social impact on the business of Toowoomba and the way this business would be managed by the organization for making higher number of members for the trade.
·         Technical factors: Technology is changing very dynamically and business organizations need to track these changes and adopt the technology so as to remain relevant to the consumers and their preference for the technology in business domain. Some of the key technological factors which can impact the current state of business for Toowoomba includes technology used for e-commerce & communication, technological advancement in the region, advantages offered by NBN, difference between the businesses having NBN & businesses which are not having NBN and usage of mobile technology so as to reap benefits through mobile technology. These technological factors would be helpful in order to maintain the competitive advantage of Toowoomba so that it can make higher number of members for its business.
·         Environmental factors: Environmental factors affecting a business would include key elements such as farming vs mining activities, infrastructure developed for water supply, impact of mining on farming community and climatic extremes from the flood to draught. These environmental factors would be important so as to known about the current state of particular industry. Business organizations supporting environment would be having higher chances of success in the market and these business organizations would be having sustainable business model as well.
·         Legal factors: Legal factors are of high importance for business organizations and these factors have immense importance. Business organizations track legal factors and changes in the legal elements so that there are no adverse impacts on business organizations due to violation of legal factors (Woo and Cooper, 2011). Some of the key legal factors which can have impact on the Toowoomba chamber of commerce in present context include health & safety law, consumer law, employment and corporation law etc. Business organizations need to understand the compliance which they need to follow so as to adopt these legal factors.
Hence from the above six factors it is quite clear that the external market environment faced by Toowoomba chamber of commerce is quite supportive for the business organization in order to extend their membership to the business organizations prevailing in the country. Further it is important that Toowoomba chamber of commerce maintain compliance with the all factors especially legal and economic factors in order to develop successful business in the present environment.
2.2 Micro environmental factors
Factor
Seriousness level (likelihood and impact)- out of 5 with 1 as lease serious
Bargaining power of suppliers
1
Bargaining power of customers
2
Industry rivalry
3
Threat of substitute products
3
Threat of new entrants
4
Table 1: Showing the seriousness level for various micro environmental factors
Section-3 Customer, competitor and stakeholder analysis
Stakeholders for Toowoomba chamber of commerce would include member, media, TRC, sponsors, leaders of future, supporting partners, CCIQ, TSBE and MoU partners USQ etc. Analysis for the various stakeholders impacting upon the marketing audit for the organization can be given as under:
3.1 Target market analysis
The major target market for TCC is business organizations prevailing in Toowoomba city starting from the micro organizations to large organizations and NFPs etc. Entire consumer base of the organization comes from the diverse range of businesses to which TCC caters to. TCC advocates for these business organizations in chamber of commerce so that these business organizations can get good business opportunities and government lays down process and policies which are favorable to these business segments. TCC need to target mainly manufacturing industry and communities as these business organizations are having high demand for the services offered by TCC. Further at present TCC also has high portfolio in these business segments and it would be easy for the organization to expand their business portfolio based on the current portfolio holds by the organization in manufacturing and community segment.   
3.2 Customer analysis
3.3 Competitor analysis
3.4 Stakeholder analysis
Section-4 Conclusion and recommendations
Present marketing plan developed for TCC would help the organization in order to attain higher members for their membership plan. TCC has planned to attain 1000 members in next 5 years and present marketing audit would help in sensing environment for realizing their marketing plans. Both macro and micro environmental factors are important in order to attain the marketing objectives for TCC. Some of the key recommendations which can be developed for TCC are as under:
·         In order to enhance the number of members from the present state of 450 members to 1000 members in next five years it is important that networking experience of the organization is improved. Further this experience would help in building multiple channels for acquiring members
·         Promotions need to be done by TCC in order to create awareness among the business organizations who are not aware of the business structure and services offered by TCC
·         TCC should develop their offering in such a way that they are providing value for money equation to their member organizations. 
References
Porter, M.E. (2008). The Five Competitive Forces That Shape Strategy, Harvard business Review
Porter M, Nicholas A, Anita M. M, (2008), "An Interview with Michael Porter", The Academy of Management Executive 16:2
Collins, R. (2011). A Graphical Method for Exploring the Business Environment. Retrieved 1 Jan 2015.
Baker, Michael (2008). The Strategic Marketing Plan Audit 2008. ISBN 1-902433-99-8. p.3
Shaw, E. (2012). "Marketing strategy: From the origin of the concept to the development of a conceptual framework." Journal of Historical Research in Marketing, 4(1), 30–55. doi:10.1108/17557501211195055
Simon, H.A. (2011). Rational decision making in business organisations, 'American Economic Review'
Quinn, J B, (2005), Strategies for Change: Logical Incrementalism. (Richard D. Irwin)
Goldstein, D.; Lee, Y. (2005). "The rise of right-time marketing". The Journal of Database Marketing & Customer Strategy Management 12 (3): 212–225.doi:10.1057/palgrave.dbm.3240258.
Dev, Chekitan S.; Don E. Schultz (2005). "In the Mix: A Customer-Focused Approach Can Bring the Current Marketing Mix into the 21st Century". Marketing Management 14 (1).

Woo, C. and Cooper, A. (2011) “The surprising case for low market share”, Harvard Business Review, November–December, pg 106–113.

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