Beruflich Dokumente
Kultur Dokumente
Executive Summary...........................................................2
1.0 Introduction................................................................3
2.0 Summary of market environment..................................4
3.0 Evaluation and analysis of the outcomes of your
strategic objectives set in the marketing plan.....................6
4.0 Conclusion................................................................10
5.0 Reflection..................................................................11
Executive Summary
The purpose of this report is to evaluate the performance of TOPClass in the
Madrid Industry and examine the objectives pre determined in the
early planning report. A comprehensive analysis of the current
market situation of dynamic Madrid industry is significant to identify
close competitors and reveal the utilised marketing strategies
specifically from period 4 to period 7. Findings in this report further
indicate the detail current market environment and competitors,
segmentation
strategies
used
by
TOPClass
to
reach
target
1.0 Introduction
This report has been compiled to evaluate TOPClasss performance outcomes
in the Madrid Industry that set earlier in the marketing plan. In the earlier rounds,
TOPClass had utilised benchmarking method to evaluate brand performance from
time to time to solidified TOPClasss position as a market leader. For this reason, it is
outlined that the firm had to achieve and maintain over 30% market share
meanwhile revenue and sales had to gradually increase over 10% for
each period to reach market dominance. In order to evaluate the objectives,
a detailed analysis of the latest market situation is identified to
reveal the strategies TOPClass had utilised from decision period 4 to
7.
Operating in mature Madrid industry that is characterised by intense
competition, it is essential for TOPClass to consistently review
market conditions and the performance of competitors. At the first
place, TOPClass had utilised a psychographic segmentation strategy through
developing and releasing three Sonites brands namely Tone, Tops and Total.
Immediately in period 4, TOPClass decided to expand into Vodites product
range with TENDER brand to benefit from first mover advantages as well as create a
higher entry barrier to future brands to secure its competitive advantages without
delayed. After all, TOPClass major focused on Sonites product that holds 90% of net
contribution compare to 10% contribution of Vodites product.
costs. Consequently, TOPClass had overspent its budget limit by $3,335000 focusing
on advertising and promoting expenditure on Sonites products without making good
use in market research studies as shown below.
in
targeting
and
advertising.
In
this
case,
owns
27.5%
of
unit
share
with
better
product
ROLL brand with TOTAL and TOPS being a good market follower by
gradually improving marketing strategies with less investment.
In reality, choices of target markets are evaluated to groups
marketing effort. For instance, as TONE is sell at $500 hence the
segmentation strategy is proportionally divided into 60% at
professional and 40% towards high earners whereas middle range
product like TOPS is to focus on explorer and shoppers who look for
quality product yet price sensitive and lastly low range product to be
90% targeted on savers where future growth rate can exceed
forecasts and another 10% on shoppers who do a lot of shopping
comparison as shown below.
brands
uniqueness
on
product
pricing,
have
product,
to
compete
promotional
through
and
various
distribution
segment,
henceforth,
the
distribution
channel
and
promotional strategy for all three brands are unique for different
customer group. For example, as TONE is targeting professionals
and high earners, hence the most online store are allocated to TONE
as its demographic segment are more wealthy and educated that
looking for convenience shopping.
4.0 Conclusion
Although TOPclass has established a dominant position in the
market in earlier periods and failed to maintain on the later rounds,
however, due to dynamic nature of the industry the firm should
consistently
review
benchmarking,
market
TOPClass
had
conditions.
ensured
Through
all
its
engaging
brands
in
remain
10
11
5.0 Reflection
As a team member, I had actively participate with my team since week 2 and did not
missed out any meetings as all of us fully understand the importance of decision we
had to make each round. By understanding the desired objectives since early rounds,
we had distributed clear roles for each brand among us in order to make better
individual decisions and reduce confusion and re-work.
Every week, we will first look at company result as a whole then critically look into
brand result to see what net profit each brand had made for that week. In order to
understand each segment ideal values in comparison with brand perception,
operational expenditure are analyse against market research with other brands to get
comparative result on the competition figure out from semantic scales tables for each
round of decisions. Correspondingly, we will move on to brand portfolio to make
decision for Sonites and Vodites by assigning into groups of 2. Before generating
resolution for commercial team support for Tone, Tops and Total, decisions for budget
allocation to Marketing Mix 4Ps each week is discussed in detail together.
Additionally, budget is allocated accordingly in marketing mix decisions. As an
illustration, we have to first allocate a production plan for our star products, Tone.
Pricing structure is then analysing in view of advertising expenditure for Tone brands
alone. Consequently, a perceptual advertising objective is change from round to round
for a better reassessment in forthcoming decision period.
In this case, production adjustment is the most difficult part to fulfil dynamic market
needs. In effect, inventory holding cost is the major obstacle affecting each brands
profit. Price had changes few times in our team after critical discussion, because when
comparing our price to our main competitors Rock under Market and Competitive
News Report in round 5 and 6, we decided to slightly increase hoping for a better
returns profit in sales. Together, we had decided so with the support from brand
perceptions table that customer is able to perceived a higher price for our Tones
product. Apart from purchasing consumer market reports and intelligence reports each
round, we focus on distributing the remaining budgets over advertising to reach out to
our target consumer segment. Unfortunately, as our team did not emphasize on the
effect of advertising message to focus on, in most of the periods, we had simply
selected no objectives to save on advertising expenditure but in return draw down
our sales. Eventually, all team members are fully aware about important to achieve
strategic objectives to cope with various expanded brands, thus, we have to improved
our data evaluation skills in order to manage and forecast our resources allocation and
marketing mix decisions accurately across various product.
After period 3, we further discuss and made amended of our decision mainly through
Facebook if some of our members happen to be absent. Of course, we still collaborate
in tutorial, as we understand it is imperative to the ultimate success of the decision
period. In each period, budget allocation on marketing mix and sales team are critical
as we had learn that it will affect TOPCLASS performances on both short and long
term in the future period if market share or brand awareness affected financial KPIs.
In conclusion, I had learned majorly on the importance of communication, breaking
the tasks down the work in order to find the interdependencies and ability to stay on
track much more successfully and in the future, to continuously improve to become a
better team member, I will definitely investing a little time to document the best
12
practices and ideas immediately that happen to make contributions to all future
projects more valuable and efficient.
13