• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Choose an organization with which you are familiar. Discuss the extent to which it has embraced the marketing concept, and critically appraise its marketing strategy.

Extracts from this document...

Introduction

Assignment: Choose an organization with which you are familiar. Discuss the extent to which it has embraced the marketing concept, and critically appraise its marketing strategy. Main Structure: 1. General Introduction of Merloni Termosanitari (China) Co., Ltd. ............. 150 words 2. Business mission & Goal .............400 words 2.1 SWOT analysis 2.2 Goal formulation 3. Marketing strategy developing ..............600 words 3.1 STP: segmentation, targeting, positioning 3.2 Marketing mix 4. Marketing strategy implementation ............500 words 4.1 Marketing channels management 4.2 Sales activities management 4.3 Budgeting & control 5. Conclusion: critical analysis .............350 words 5.1 Non-precise information 5.2 Limited marketing department function Total counted: 2,000 words MTS (CHINA) MARKETING STRATEGY OVERVIEW MTS groupO1 was established in 1930. In 1950, three different product lines were created after successfully distribute its products during the 1st 10 years: water heating and storage appliances, gas storage cylinders and domestic electrical appliances. Nowadays, MTS is one of the world leaders in the manufacture of water heaters, boilers, burners, components and baths. Since the 1970s, the MTS has expanded globally, opening new branches, production plants and acquiring established factories across the globe, specialize in and concentrate on sanitary and heating products. 'ARISTON' brand was launched in 1960, destined to became one of the greatest trade and consumer brands in its sector, and took an international notoriety (in Greek language: ARISTON = the best). ...read more.

Middle

Along with its famous ARISTON mark, a warm, fragrant small house with funnel, MTS marketers decided to deliver customers such information: best quality, best design, safest and durable. Then, MTS targeted its financial objectives: * Earn an annual ROI of 1% after taxes over the next ten years * Produce net profits of $300,000 in the 1st financial year with a target profit margin of 10 percent on sales revenue * Achieve 1st year total sales revenue of $3 million, based on an average price of $100 per unit MTS's marketing objectives are to: * Achieve a 1st year unit sales amount of over 300,0000, with galvanized EWH in product line * Increase market share to 40% by the end of the 4th years, launch new enamelled products Solving the positioning problem enables the company to solve the marketing-mix problemO5. The same as multi-branches of service coordinating with each other in a war, to translate marketing strategy into action program, marketing mix are the core subjects in MTS's marketing plan: 1. Product, the basic tool: MTS has a wide range of water heaters, from 10 litres to 200 litres, enamelled inner-tank & galvanized inner-tank, horizontal & vertical, EWH & GWH. The company decided to focus on 50 litres to 100 litre enamelled EWH, emphasis multi-functional, safety and durable. ...read more.

Conclusion

For example, it takes too long time to make classified annual sales budget, and the gap between actual and budget is predicted but 'uncontrollable'. This increase the risk for leading the company to selling orientation, instead of marketing orientation * Sales team is increasing, sales expense is increasing, but still call for integrated activities. Marketing department only keen on advertising activities. Besides annual budget, there is even not a formal marketing plan. The company is operating as what 'it was doing' Regarding the above issues, the company has many selections to be taken: * Develop new product for the new market. The purchasing force in west China is not as strong as east China, but the government is accelerate the developing speed, meanwhile, west China has plentiful natural resources. MTS China can develop lower-price, high quality GWH and solar energy EWH to enter the market * Segmentation, targeting and positioning are the 1st step of value delivery chain, marketing information must be adapted to the different requirements of each production line. Information feed back from sales branches, rep office should be integrated and formulized to meet managerial requirement * Marketing strategy plan is an official guide for all the related departments to consider 'Market & Customers'. As Eisenhower once said: In preparing for battle, I have always found that plans are useless but planning is indispensable', Marketing department should take his responsibility. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Marked by a teacher

    Section 2-Marketing

    4 star(s)

    raw materials). Then a flat rate or percentage increase is added on top for the company to make a profit. Before deciding upon a price for our business, we had to consider a number of factors. Firstly, we had to see what price range we could work with - by

  2. Fashion Marketing Concept. The function of Fashion Marketing.

    They use undyed and unbleached cotton. The sales for these however have been very limited. The Ozone later is depleting and as a result there is a higher risk of skin cancer. Swimwear can now have UV protection of up to 97%, which give a higher opportunity for Lycra.

  1. Describe and examine the major components of market orientation in relation to the marketing ...

    For example, websites such as Kelkoo (www.kelkoo.co.uk) and Pricerunner (www.pricerunner.co.uk) allow consumers to compare prices and delivery times on a range of products, as well as read reviews from other consumers to evaluate whether the item is suitable. 'The marketing mix' is one of the most well known phrases in

  2. The Marketing Concept.

    Businesses therefore have not only to make products that consumers want, but they also have to make them affordable to a sufficient number to create profitable demand. Businesses do not create customer needs or the social status in which customer needs are influenced.

  1. Strategic Marketing Report - Virgin Trains

    The whole Virgin organisation has a marketed image of value, which attracts a lot of people. Every product and service throughout the company can be labelled as value for money. Once the Marketers have found what the people want and designed a product to suite then the advertising kicks in.

  2. Opening an Arcade – Feasibility Study

    ________________________________ Q5. Would you prefer if there were a membership scheme offered that gave members special offers and discounts? (Please circle appropriate answer) YES NO (If 'NO' please go to question 8) Q6. How much would you be willing to pay for a year's membership?

  1. Analysis Ryanair's external Marketing environment and strategy

    Ryanair here has an opportunity to increase its market share. Technological = New technology will allow mobile phone and broadband use on-board. Carriers, including Ryanair, can thus increase ancillary services by offering on-line shopping, TV screenings and mobile phone usage against a fee.

  2. Business GCSE Unit 1, A1

    Agreed - The objective has to be seen and agreed to by a board of directors. Realistic - This means is the objective achievable in the time given and do they have the resources to achieve it. Timed - This is where the business set a date for the objective to be completed by.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work