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  • Penton Ltd Marketing Audit and Recommendations

    Diunggah oleh

    Mandar Rane
    184 tayangan15 halaman
    Penton Ltd. manufactures DIY products under the EASI-WAY brand name. Due to a downturn in retail sales and reduced profit margins over the past 10 years, the company hired marketing consultants to audit the company. The consultants recommended focusing on key areas like a marketing orientation, stronger planning culture, and new product development process. They suggested understanding customers and competitors better through market research. Recommendations included segmenting based on geography, targeting middle income groups, and positioning through brand extension. Promotion should include demos and a website, while periodic audits track performance. Management control will initially increase costs but boost profitability through improved sales, brand value, and market share. An MIS system will gather market data

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    Judul Asli

    Final Penton

    Hak Cipta

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    Penton Ltd. manufactures DIY products under the EASI-WAY brand name. Due to a downturn in retail sales and reduced profit margins over the past 10 years, the company hired marketing consultants to audit the company. The consultants recommended focusing on key areas like a marketing orientation, stronger planning culture, and new product development process. They suggested understanding customers and competitors better through market research. Recommendations included segmenting based on geography, targeting middle income groups, and positioning through brand extension. Promotion should include demos and a website, while periodic audits track performance. Management control will initially increase costs but boost profitability through improved sales, brand value, and market share. An MIS system will gather market data

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai PPTX, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    184 tayangan15 halaman

    Penton Ltd Marketing Audit and Recommendations

    Diunggah oleh

    Mandar Rane
    Penton Ltd. manufactures DIY products under the EASI-WAY brand name. Due to a downturn in retail sales and reduced profit margins over the past 10 years, the company hired marketing consultants to audit the company. The consultants recommended focusing on key areas like a marketing orientation, stronger planning culture, and new product development process. They suggested understanding customers and competitors better through market research. Recommendations included segmenting based on geography, targeting middle income groups, and positioning through brand extension. Promotion should include demos and a website, while periodic audits track performance. Management control will initially increase costs but boost profitability through improved sales, brand value, and market share. An MIS system will gather market data

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai PPTX, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 15

    AATIKA GOENKA-106 MANDAR RANE-76 TANAY TELANG-114 PRIYANKA JOSHI-112 SURAJ DUBEY-95 ADITYA DEOLE-

    Penton Ltd.
    Manufactures and markets a range of DIY products

    under the EASI-WAY brand name


    Performance over past ten years was unimpressive

    The company was subject to Takeover Bid, but the

    board managed to fight off the bid(in 1991).


    Decision was taken to bring in a firm of marketing

    consultants to conduct a detailed audit of the company due to downturn in retail sales and reduced profit margins

    EXISTENCE OF DIY PRODUCTS

    1950

    1980
    DOWNTURN IN RETAIL SALES

    1991
    THREAT OF TAKEOVER

    R&D BRAND NAME pricing

    SWOT
    STRENGTH WEAKNESS

    policy

    DISTRIBUTION NETWORK SALES PERFORMANCE PRODUCT ORIENTED FEEDBACK CONTROL

    OPPURTUNITIES

    THREATS

    SCOPE FOR NEW PRODUCTS MARKET DEMAND GROWTH

    TAKEOVER BY OTHER COMPETITORS.

    Losing customer

    Product

    Place

    Penton

    Promotion

    Price

    Key Areas
    A marketing orientation A far stronger and more effective planning culture A structured and productive new product development process

    Questions
    Q1. As a member of team of consultants, you have the responsibility for making recommendations as to how the organization might most effectively achieve the first two of the points mentioned under key areas. You are therefore required to prepare a report showing how this might be done.

    Know the market


    Gathering information from existing customers Understanding of competitors products

    Shopkeepers feedback
    Reviewing the whole distribution network

    Recommendations
    Segmentation should be Based on Geography
    Target Audience should be Middle Income Group Positioning should be based on Brand Extension Promotion: Demos in retail market,website Periodic Audit should be conducted

    Initiative should be taken for new product


    Dedicated marketing team Pull strategy

    Customer relationship management


    R&D should be interlinked with marketing

    Competitor's Market
    Market analysis with respect competitors: Competitors and their products Pricing policies Promotional activities Distribution channel Credit policy

    Question

    Q.2 What are the implications of your suggestions for approaches to management control?

    Initially it will increase the cost


    Increase in profitability by increase in sales Enhancing their brand value and market share by

    promotional and advertising campaign

    Approach
    A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. Direct & guide R & D department as per market requirement

    Thank You

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