Marketing Plan Case Study Solution
Implementation or Tactics
The implementation of the above strategies can be determined by analyzing a step by step approach using various attributes related to the marketing mix including 7 P’s of marketing. A brief analysis of the 7 P’s of marketing required for implementing strategies efficiently is given in the Table 4. (Unknown, Marketing and the 7 Ps, 2018)
Table-5: 7 P’s of Marketing
| Product | Prices | Promotion | Place | Packaging | Positioning | People |
| · Introduction of Broadband offerings into existing markets.
· Developing current offerings to offer into new markets. |
· Competitive Pricing strategies in new markets to attract new customers and sustain current customers. | · Aggressive Promotional Strategies in current and new markets. | · Shift towards new markets especially in the Asia Pacific Region. | · Attractive packaging with high consideration for environment to avoid criticism by environmental communities. | · Positioning brand as a high quality provider of network products. | · Building a team of highly skilled labors with technical expertise to ensure quality. |
On the basis of the given attributes required step by step tactics could be determined for Sing tel to implement the strategies. The implementation plan for each of the strategies is given below separately.(Misankova, 2017)
Staretgy-1: Market Development to acquire Revenue Growth
Market development strategies require introducing current products i.e. Sing tel Dash in new markets. The first step in implementing this strategy is to evaluate the demand of Sing tel Dash in the alternative new markets by gathering data related to consumer’s income level, consumer preferences, market competition, legal regulations etc. to gain an overview of the market demands of existing products. After that certain markets could be selected in the alternatives on the basis of consumer demand s and the probability of success in that market. After determining the potential markets, the company could go for initial launch by analyzing the reviews of various users through distributing sample products in new markets. If the company get positive reviews from the users, it should then go for the promotion of its products into new markets using high level advertisements etc. After finalizing the initial launch it should keep on analyzing the market performance by gathering consumer reviews. After that it should consider attracting high number of consumers by providing certain benefits in terms of discounts and customer services.
Strategy-2: Product Development to Sustain Current consumer Base
Product development strategies require introducing new products i.e. Broadband in existing markets. The first step in implementing this strategy is to evaluate the demand of Broadband in the alternative existing markets by gathering data related to consumer’s income level, consumer preferences, market competition, legal regulations etc. to gain an overview of the market demands of new products. After that certain markets could be selected in the alternatives on the basis of consumer demand s and the probability of success in that market. After determining the potential target customers in the existing markets, the company could go for initial launch by analyzing the reviews of various users through distributing sample products in existing markets. If the company get positive reviews from the users, it should then go for the promotion of its products into existing markets using high level advertisements etc. After finalizing the initial launch it should keep on analyzing the market performance by gathering consumer reviews. After that it should consider attracting high number of consumers by providing certain benefits in terms of discounts and customer services etc.
Action Plan
A Gantt Chart Related to the implementation of strategy 1 and 2 could be used to determine an action plan for a period of 12 months for both of the strategies. Gantt chart for both of the strategies combine is given below.(Unknown, Project-Management with Gantt Charts, 2015)
Chart-1: Gantt Chart
| Tactics | Month 1 | M 2 | M 3 | M 4 | M 5 | M 6 | M 7 | M 8 | M 9 | M 10 | M 11 | M 12 |
| Demand Evaluation | X | X | X | |||||||||
| Determining Alternative Markets | X | |||||||||||
| Evaluating Consumer Reviews | X | |||||||||||
| Initial Promotional Activities | X | X | X | X | ||||||||
| Initial Launch | X | |||||||||||
| Evaluating Performance | X | |||||||||||
| Second Round of Promotional Activities | X |
Following the above Gantt chart a timely implementation of both of the strategies could be made possible.
Control
The implementation of both of the strategies could be controlled by evaluating certain pre-determined key performance measures KPIs to evaluate the performance that whether the strategies are being successful at achieving objectives or not? The KPIs which could be used to evaluate the performance of the strategies include various controlling measures for each strategy separately. KPIs for determining the performance of strategy 1 related to sustaining consumer base include the data related to the consumer shift from company products toward competitor’s products. If consumer shifting rate are declined after the implementation of product development strategy, the strategy is said to be valuable for the company. However, KPIs for determining performance of strategy 2 related to acquiring revenue growth by include the evaluation of past revenue growth and the revenue growth after the implementation of strategy. If the acquired growth is greater than the previous growth, then the strategy is said to be successful.(Unknown, Startegic Evaluation and Control, 2003)
Conclusion
Although, the company has a competitive market position, but the changing consumer preferences and the shift of consumers towards other offering force the company to consider certain marketing strategies in order to sustain its competitive position in long run. The marketing strategies on the basis of objectives driven by TWOS analysis include the Product Development strategy to sustain current consumer base and the market development to acquire a revenue growth. Both the strategies if implemented properly have the potential to provide substantial results.
Appendices
Appendix-1: List of Tables and Charts
| Table/Chart | Title |
| Table 1 | SWOT Analysis |
| Table 2 | PESTEL Analysis |
| Table 3 | Porter’s Five Forces Framework |
| Table 4 | TWOS Analysis |
| Table 5 | 7 Ps of Marketing |
| Chart 1 | Gantt Chart |
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