Essay on Develop Organizational Marketing Objectives

Question: Write an essay on "Develop Organizational Marketing Objectives". Answer: 1. Introduction: Setting proper marketing objectives are one of the major ways for rendering success of an organization. With the gradual progress of civilization, the taste and trends of people are changing day-by-day. Therefore, the business organizations have to develop their marketing goals and objectives in order to meet the needs and demands of the customers. Marketing objectives help to fix a particular business goal. As per the goal of a business organization, the employees have directed and encouraged to step ahead. While setting a particular goal both the business managers and the employees get a clear way how to reach the target. This particular study is primarily concerned about the marketing objective strategies and policies of Zamtas (zamtas.com.au 2016). Zamtas is one of the most popular market leading companies occupying a predominant place for designing and supplying the energy efficient lights. Automation products and the solar system have also been supplied from this particular org anization. This particular study has aimed to discuss on the market performance, market review, opportunities and threats, various risk factors of Zamtas to create a market demands of their products. 2. Strategic Direction: Mission, vision and purpose value of Zamtas: Zamtas is popularly known for its environmentally effective products in order to fulfill the requirements of Australian customers. Apart from Australia, the people of Asia and Middle East as well intend to use the service of and products of Zamtas. This particular organization is endowed with high quality of professional teams, efficient managers, competent engineers as well as technical staffs and so on. While providing a complete product solution, Zamtas intends to give a technical supports as well (Boone and Kurtz 2013). The LED products this organization mainly focuses to supply include LED outdoor lights, streetlights, solar street lights. Among the solar system facilities Zamtas primarily deals with Solar home system, solar PV modules, Inverters, Solar LED warning lights and so many. As per the organizational as well as management structure, Zamtas has aimed to expand their business beyond going the Australian boundary. Therefore, the marketing strategies and policies that have been formed on behalf of the organization are for the customers of multinational countries rather Situation Analysis: However, before setting the marketing objectives the marketing managers have decided to conduct a situation analysis of the market of Zamtas products in order to understand the current needs and demand of the customers (Castronovo, and Huang 2012). The situation analysis includes evaluating the political, economic, socio-cultural and technological factors that have a major affects on the organizational performance. PEST Analysis Description Political Political factors mainly determine how the business regulations and acts have a greater impact on the success of a business organization. Government taxation and policies have a major role to mould the shape of a business organization. In case of Zamtas, the business experts tend to follow some of the major regulations inside the organization strictly. In addition, this particular organization has drawn the attention of Australian government by maintaining all the government tax policies as well as regulation. Economic Zamtas has already spread their wings in different Australian countries. Australia being a developed country is possessed with a sound economical strength. Therefore, this organization has aimed to reach the target market of both premium consumers as well as low cost consumers. Socio-cultural While circulating their products in different countries of Australia and Asia, Zamtas intends to draw the attention of people from various social and cultural backgrounds. Technological Australia is very advanced in technology. Therefore, Zamtas tends to set their marketing objectives to reach the customers by utilizing advanced technology such as electronic media, new media, surveillance system and so many. Table 1: PEST Analysis (Source: Chaffey, Smith and Smith 2012) Strategic communication plan: Zamtas has formed their strategic communication plan in such a way that the organization can draw the attention of people from different geographical boundary. By maintaining a certain ethics, values and culture inside the organization, the services providers have been strictly instructed to treat every employee with equal respect and dignity (Hollensen 2015). Providing advertising with the help of media, by maintaining effective public relation, by maintaining a balance between demands and supply, Zamtas has made their strategic communication plan to reach the maximum number of customers. 3. Review Marketing Performance: Initially Zamtas primary concern was to deal with the LED lighting only. Architectural LED lights, LED Street lighting, Roadway lights, car park lights, flood lights, Pathway lights and so many were the primary focus of this organization. Gradually, the market analysts of Zamtas have observed that people are providing a huge response from different corners of the country like Australia. After that, the management along with the staff members has decided to enlarge the entire business process of Zamtas. Along with the LED lighting products, the organization decides to expand their business by providing automation products, traffic system products, solar solution and so many. Before expanding their business, Zamtas has already conducted a market evaluation strategy by executing a SWOT analysis (Kumar and Mirchandani 2012). With the help of SWOT analysis, the business experts have come to know their strengths, weakness, opportunities and threats for launching these products and services . SWOT Analysis Description Strength v Zamtas has already built a business reputation by providing an excellent service of their LED products. v Performance management system has been implemented within the business. With the help of performance management system, both the mangers and the employees take part in decision-making process. v As a result, the employees are clear about the business goal and services Weakness v In comparison to the departments of various products the number of employees in Zamtas is limited v Lack of sufficient internal resource is one of the strongest weaknesses of a company Opportunity v After expanding the business process, Zamtas has a huge opportunity to launch their product beyond going their home country. Apart from Australia, the organization has already expanded their business in Asia. v By utilizing the popularity of media, this particular organization can have the opportunity to enter into the international market. Threat v Competitors market strategy is the major threat for this business organization. Table 2: SWOT analysis (Source: Ogunmokun and Tang 2012) 4. Marketing opportunity scope: Cost-benefit is a systematic approach with the help of which the strengths and weakness of alternatives can satisfy the transaction of business. Cost benefits analysis has generally been conducted in order to understand the reliability of sound investment. Before launching new products, the organization such as Zamtas likes to conduct a market analysis. Cost benefit is one of the major parts of analyzing the market opportunity (Solomon 2014). Before launching more products within the market, Zamtas marketing managers have analyzed the cost benefit effects. LED lighting has rendered an immense success and achievement for the organization like Zamtas. As per the market review result cost benefit analysis, the organization has decided to deal with more products for drawing the attention of a large number of customers throughout the world. In addition, before launching a particular product the business organizations like to analyze the risk factors in different ways. For an example, Zamtas before launching the product like inverter has made an effective risk analyzing factors. Australia being a well developed country is possessed with good electricity supply. As a result, the customers do not show their interest to purchase inverters (Wilson and Gilligan 2012). This product is not devoid of risk factors. In this situation, the managers have decided to change the target market of this particular product. People of remote areas having suffered from intense electricity problem need inverter. Therefore, the company should promote their products in those areas for drawing the attention of those customers. 5. Formulations of marketing objectives: Formulation of marketing objectives mainly aims to forecast the future needs of the business organization like Zamtas for fulfilling the customer satisfaction. While expanding the entire business process in various multinational countries, the organizations such as Zamtas has to formulate their marketing objectives to meet the customers change of tastes (Solomon 2014). However, in the formulation of marketing objectives the primary goals of Zamtas are: To conduct clear market segmentation based on the demographical, geographical and psychographic in order to segregate the target market as per the products and services. LED light is very much essential for both urban and sub-urban people. On the other hand, inverter is only necessary for the people of suburban areas To implement the risk management within business process very strictly so that the business experts can take an immediate precaution to overcome the sudden crisis 6. Conclusion: The entire study deals with the importance of making effective marketing objectives in order to render the success of a business process. Zamtas has been chosen as the selected company. The entire study has focused to highlight the strategic directions, missions, visions and the purposes of the organization. While launching various kinds of products, this organization has conducted an effective market analysis to know the strength, weakness, opportunities and threats. In addition, different environmental factors affecting the rhythm of business process have also been discussed throughout the entire study. Reference List: Boone, L. and Kurtz, D., 2013.Contemporary marketing. Cengage Learning. Castronovo, C. and Huang, L., 2012. Social media in an alternative marketing communication model.Journal of Marketing Development and Competitiveness,6(1), p.117. Chaffey, D., Smith, P.R. and Smith, P.R., 2012.eMarketing eXcellence: Planning and optimizing your digital marketing. Routledge. Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Kumar, V. and Mirchandani, R., 2012. Increasing the ROI of social media marketing.MIT sloan management review,54(1), p.55. Ogunmokun, G.O. and Tang, E.C.H., 2012. The effect of strategic marketing planning behaviour on the performance of small-to medium-sized firms.International Journal of Management,29(1), p.159. Solomon, M.R., 2014.Consumer behavior: buying, having, and being. Engelwood Cliffs, NJ: Prentice Hall. Wilson, R.M. and Gilligan, C., 2012.Strategic marketing management. Routledge.