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A New Market For Grand Day Out PLC

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Introduction

TMA 03 A New Market For Grand Days Out PLC April 2008 "You are the experts who know what our customers like and want, we are here to learn". Today is an Ideas Generation Day. We will be explaining to you all what we do, how you can be involved & how to market effectively to the <50's. To gain a better insight into what we in the marketing department do, I shall start by going over all the main points leading to the critical decisions that lead our company towards it's goals. Critical Success Factors OU B202 Block Book 3, Information, page 43, figure 3.4 The first step is to identify our Critical Success Factors. These are "the limited number of areas in which results, if they are satisfactory, will ensure successful performance for the organisation. They are the few key areas where things must go right for the organisation to flourish". There are usually 3 - 6 CSF's and we are going to focus on 3: - 1. Maximising average spend of the 'Grey Euro'. 2. Ensuring our parks have interesting attractions for the over 50's. 3. Staff motivation. Key Decisions The second step is to "identify the Key Decisions required to ensure each of the Critical Success Factors is managed properly. ...read more.

Middle

Potential Contribution of <50's over 5 years Demand patterns show a trend of seasonality. In our industry most holidays are booked in the Summer, with lower peaks at Easter & Christmas & troughs in the intervening periods. With this in mind, we can use information gathered relating to demographics to help us predict the volume of <50's coming to our parks. To measure the accuracy of the forecast is to use the "mean absolute deviation. This measure is the measure of the average deviation of the forecast from the actual demand, ignoring whether the deviation is negative or positive". To ensure the forecast will be useful to us, we must ensure that it is": - * Clear about the units of capacity needed. * As accurate as possible. * Issued in sufficient time. This forecast will enable us to foresee demand levels & ensure that we will always be able to meet the volume of custom with the appropriate level of staff; thus leading to customer satisfaction during when being served/queing and so on. WEEK DEMAND FORECAST ERROR 1 120 123 3 2 101 101 0 3 115 116 1 4 114 109 5 5 98 109 11 The mean absolute deviation is: 20 divided by 5 = 4 (6.1) ...read more.

Conclusion

& show deeper understanding of some technically detailed topics This block has instilled more information regarding the topics covered, ensured I have to think about the information in a detailed way and made me have more confidence in realising that I do understand what I am learning Medium Use examples & analyse case studies to enhance understanding, support conclusions & illustrate issues concerning business functions in organisation context I find that I can use examples, support conclusions and illustrate issues in the correct context well High Problem solving & decision making I have found that I am more decisive in what information I should use, which means I can do my work quicker Medium Present information clearly in a variety of formats, taking into account how to express potentially complex or controversial topics I am able to present my work in various formats, reports, power point, tables etc & express the topics with the use of these formats High B202 TMA and Examination Handbook, The Open University,Milton Keynes, 2nd Edition 2007 B202 Block 3, Information, Understanding Business Functions, The Open University, Milton Keynes , First Published in 2006 Accounting & Finance for Non-Specialists, 4th Edition, Peter Atrill & Eddie McLaney, Pearson Education Limited, Harlow, first published 2001 Essentials of Marketing, 3rd Edition, Jim Blythe, Pearson Education Limited, Harlow, first published 2001 Operations Management in Context, Les Galloway, Frank Rowbotham & Masoud Azhashemi, Elsevier Butterworth-Heinemann, Oxford, first published 2000 ...read more.

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