- Pages: 14
- Word count: 3297
- Category: Marketing
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For MARKETING MANAGEMENT – FINAL PAPER
Contents of the Marketing Plan:
* Cover Page
* Table of Contents
* Company Title / Owner / type of Business
1.0 Company Description
* Organizational Structure/ Control
2.0 Strategic Focus and Plan
3.1 Company’s Mission Statement
3.2 The Company’s Goal/ Objectives
3.3 Core Competency and Sustainable Competitive Advantage 3.0 Situation Analysis
4.4 SWOT Analysis
4.5 Industry Analysis
4.6 Company Analysis
4.7 Customer Analysis
* Where do they Purchase?
* When do they Purchase?
* Why potential customers don’t purchase?
4.0 Product – Market Focus
5.8 Developing a strategic Focus
5.9 Marketing Goals and Objectives
5.10 Target Market
5.11 Company position in the market
5.0 Market Program
6.12 Product Strategy
6.13 Pricing Strategy
6.14 Location Strategy
6.15 Promotion Strategy
6.0 Marketing Implementation Analysis
7.0 Financial Data and projection
ADAMSON UNIVERSITY-GRADUATE SCHOOL
San Marcelino St. Malate, Manila
A MARKETING PLAN FOR
NATIONAL PANASONIC CORPORATION
A Course Requirement for
MARKETING MANAGEMENT – MS MKTG 205
VALERIANO CARANDANG LIMBAUAN, JR
(Name of Professor)
The National Panasonic Corporation is a leader in the appliance manufacture, assembly and distribution the world over. A very efficient management style that the company uses has been one of the reasons for the firm’s good performance. There are many other salient factors that have made the company achieve the niche of market leader. The market structure the company operates in can not be definitely stated. Some may consider it to be a monopoly. This is due to the fact that the company is a dominant market player in car exportation. In fact, its differentiation strategy has made it enjoy an almost monopolistic presence especially in the developing nations of the world. On the other hand, the market structure can be seen as an oligopoly. This is due to the fact that there are other key players like American Heritage and others who are peer competitors. National Panasonic Corporation is keen to see what these competitors are doing and make sure it reacts to their actions in a way that will guarantee its market leadership. Strategic Focus and Plan
There are three aspects of the existing corporate strategy that are developed in relation to their overall impacts caused to the marketing plan of National Panasonic Corporation. These are; Mission Statement of the Company National Panasonic Corporation seeks to create a more prosperous society through appliance and computer manufacturing. Therefore, the Company is aimed at achieving a stable and long-term growth in future, and this is supposed to be in synchronization with a number of factors: the significant environment, global economy, local communities served, and the Internal Environment of stakeholders
The Company’s Goals
The company has committed itself to offering of hybrid alternatives for every model that is sold in the market. This is aimed at enabling the Company to make a total sale of 1 million hybrid appliances and computers within a year, and this goal has been set to have been achieved by the year 2012.
National Panasonic Corporation has improved its 2011 Environmental Action Plan and it is committed in six different key areas, which are: the Environmental Management; changes in Energy and Climate; the Quality of Air; concerned Substances; the aspects of Recycling and Improved Resource utilization; and Societal Cooperation. The Company is committed to reduce carbon dioxide emission and it is believed to take combined actions of ensuring that the environment is kept clean all the time by observing the stated fuel economy values. Core Competency and Sustainable Competitive Advantage
National Panasonic Corporation is working towards the achievement of a better and more sustainable economy by having a stable global market. With advancement in new technology and other related matters, the Company is investing in various strategies that will enable it to realize its set goals and objectives over a period of time. The Company has a well developed and equipped network of expertise that are into research and development over aspects that are to keep the Company on top in product and service delivery to its global market. Also it has a wide range of distribution network all over the world and this has enabled it to reach a portion of the market that is seeing it through to greater levels. Situation Analysis
National Panasonic Corporation’s capacity to stay on top of productivity efficiency and quality rankings can be credited to its internal environment. This entails the way production process is managed by the top management who are famous for their competency. The production team has an insatiable obsession to improve the efficiency and effectiveness of its manufacturing operations. Therefore, to fully understand the situation analysis of National Panasonic Corporation, a SWOT analysis is determined and it mainly consists of the Company’s strength, weaknesses, available opportunities, and finally the threats that the Company is experiencing or projected to go through. SWOT Analysis
Strength and weaknesses are referred to as internal factors of the Company as their impact starts from within the Company, while opportunities and threats normally originates from outside of the Company, hence referred to as external factors. Figure 1: SWOT Analysis of National Panasonic Corporation
Internal Factors| Strengths| Weakness|
Management| Having competent and experienced management team and board members| Large size of management team reduces chances of moving fast into the targeted market, because of slow rate in decision making| Offering| Hybrid products that are customer friendly| Expensive in proofing the market that are right products for them| Marketing| Distribution of products into the market through wide range of identified branches| Expensive in establishing this distribution network| Personnel| Have good skilled workforce who are relied upon| The gap will be big if the employees left the Company| Finance| Improved revenues from sales made in the global market| Limited workforce and material may slow down the growth of the Company in relation to competitors| Manufacturing| Main supplier of material ensure fast and quality material| Different supply interests among the Company suppliers and other competitors.| R&D| Quality of products delivered is enhanced throughout the period of doing business| |
Figure 2: SWOT Analysis of National Panasonic Corporation
External Factors| Opportunities| Threats|
Consumer/social| Stability of the upcoming market is highly projected| Low priced products may proof that the quality of the products is quite low| Competitive| Differentiated products and prices make the Company to be quite distinctive in the market| Products of high technology are being introduced into the market by other competitive companies| Technological| Break-through in technological standings is a better course for the Company to improve on the quality of its products| | Economic| Improved consumer income has made it convenient for the Company to get deep into the market| Individuals opting for other products since they have enough disposable income| Legal/Regulatory| Regulatory measures ensuring fairness in the market and avoid over-exploitation by other competitors| |
Figure 3: The SWOT Analysis Matrix
Strengths : •investment in new factories •diverse range of products •improved marketing techniques| Weaknesses: •Maintaining client base •Maintaining production| Opportunities: •hybrid cars •selling technology •rising urban youth population| Threats: •Faulty products •Upcoming manufacturers|
National Panasonic Corporation is able to apply its strengths and opportunities it has to create a competitive edge in the industry. For instance, the widely differentiated product line is helping the company to have more global presence. This can also be achieved through entering new markets like China and Europe. National Panasonic Corporation has previously concentrated on the Japan and American markets and it needs to setup strategies to penetrate the other markets as well. National Panasonic has taken a good position as far as sustainable development is concerned. With the fear of depletion of the fossil fears coupled with the global warming effects, there is a ready market for the National Panasonic’s hybrid appliances and computer. The company can also use this opportunity to sell its technology to other firms. Company analysis
National Panasonic is one of the world’s leaders in car export and it appears to literally be living its mission, which is to be the world leader in the creation of appliances and computers that are best in terms of value. The company is working towards the end of creating a society that is prosperous by providing their clientele with the best value for their money. They believe in giving the best prices for the client yet still deliver an appliances and computers that is at par with those being offered by their other major competitors. This could be the reason why their products are having a very good market in the developing nations. The Company is also conscious about sustainable development, and this can be clearly seen in its different corporate social responsibilities as well its sustainable development initiatives aimed at reducing the pollution of the environment. Customer Analysis
National Panasonic’s customers are very diverse and they range from the low income earners to the very rich. They are widespread around the world. National Panasonic has catered for all car needs that may arise for any individual with their wide range of appliances and computer. The customers comprise a varied group of people, with differing ages, incomes, geographical locations, and social and cultural statuses. Customers go for National Panasonic products to satisfy different wants and needs. Low income earners are provided with a basic mode of relaxation and home entertainment that is both within their price range and efficient. Clients going for class and elegance are also catered for.
Customers purchase National Panasonic products on individual basis according to their specific needs. In such a case, the product buyer and purchaser is not actually the product user. Once individuals purchase the company’s product, there is an increased exposure to its other products. Product awareness is enhanced through advertisements, newsletters, website information, and other informational sources. The opportunity for National Panasonic to generate income from complimentary products such as books and seminars by members is very big. Where do they Purchase?
Most of National Panasonic’s products are sold through retail distributors located all over the world. Purchase can also be made directly from the factories, as is the case with limited edition models. The increase in the use of electronic commerce, National Panasonic as well, that is, purchasing products on-line. Majority of the advertising materials can be obtained in full, on-line view over the Internet. On-line publications diminish paper waste while giving existing and direct availability of the product to clients. Customers are able to order a product in stores and with a toll-free number directly from the company as well. This grants customers around the world access to the company’s products. When do they Purchase?
Individuals can purchase the company’s products anytime that they like, at any time of the year. This is because National Panasonic sells its appliances and computers all year round, except for the limited editions which are purchased directly from the factories.
Why do they Purchase?
Customers select National Panasonic products over other manufacturers primarily because of their comprehensive, yet specialized, nature. Panasonic’s offers a diverse range of appliances and computers that encompass all needs of the clients. They are focused on building and maintaining high standards when it comes to the products. They offer cheaper alternatives to the clients for the same products from other manufacturers that are quite expensive. Why Potential Customers Don’t Purchase?
As is the case for many large organizations, Panasonic’s target market defines a much wider population than their customer base actually reflects. There are many appliance manufacturers who have come up and the motor industry is currently flooded with many products. Many of these products are similar, often differing due to one or two features that may or may not be significant. In this case, it comes down to personal like and dislike. The other reason is the issue of class and social status. Panasonic products do not always give the implication of a high social standing. A customer may choose to buy an appliances and computer from a competitor and not from Panasonic simply because of that, and yet the appliance is the same. Product-Market Focus
In this section, the Company three year development projections is clearly explained in various categories, which are developing of a strategic focus; marketing goals and objectives; target market; and the Company position in the market.
Developing a Strategic Focus
National Panasonic has already embraced product differentiation as a major strategy in market penetration and the strategy is working well. It is determined to use a pricing mechanism that will give it a competitive edge over its main competitors. The cost of production of a unit for National Panasonic is projected to be large but due to possible mass production plants, the overall cost will not be a huge issue in this case. This means the company will be able to sell its products at an even lower price yet still remain profitable. The company is taking an advantage of this and using it to penetrate the markets of emerging economies with affordable products. Marketing Goals and Objectives
National Panasonic’s enormous size and capacity is a great advantage in meeting industry growth. The number of clients in need of appliances and computers is constantly increasing, thus creating a bigger market for Panasonic and requiring more of their products. The perceived importance of owning an appliance due to increased home entertainment needs in today’s largely corporate world is constantly increasing as well. Panasonic’s great size will enable them to successfully meet the needs of this growing population of customers in need of appliances and computers. Target Market
Each of Panasonic’s products is designed to target a specific market. The design criteria range from top quality, capacity and exterior appearance like color and shape. Overly, the National Panasonic is giving its competitors a hard time. Even though it has experienced challenges like the recent recalls, it is still notable in market leadership position. If the current impressive results and global positioning of the company is anything to go by, then this is a position Panasonic is not likely to lose any time soon. Company Position in the Market
National Panasonic has been producing appliances and computers, and significant products that are not expensive and readily available. This has been a significant factor that has enabled the Company to have a major cut in the market , and it is projecting to have most of the market by the end of 2013, as it has put a cross a number of strategies to enable it reach the set target. Market Program
This consists of the four marketing mix elements that are designed to fit the market in terms of their needs and ability to access such products and services. Product Strategy The Company is believed to be moving with a strategy of mass production of which it has enabled it to sell widely in the global market. It has also included the strategy of hybrid product, where it can double the amount of production for the arising needs in the market. Price Strategy
The reputation of the Company has been developed by producing high quality appliances that can be bought at a reasonable price. The Company has also been using tactful pricing strategies through price differentiation so that they are different from other appliances and computers producers. Location Strategy
Being a global producer and supplier of Panasonic appliances and their components, National Panasonic Company has positioned itself all over the world giving it a clear cut within the market. Within three years to come, it is working towards the achievement of about 35 percent of the market share, and this will make it to be best and top supplier of appliances products. Promotion Strategy
The Company is determined to use a pricing mechanism that will give it a competitive edge over its main competitors. This is a mechanism that it is using to market itself so that it can get hold of market share that will see it better in achieving the highest level in the market. Marketing Implementation Analysis
Panasonics main focus will be in reaching the new markets of China and Europe. It will also be concerned about the competition from other firms like American Heritage/ Sanyo and others. An advantage the company has is the widely differentiated product range. Establishing new factories in these new markets as well as opening up new franchises will help the company in getting an ease of penetrating the new markets
Human resource is one of the most important aspects in this plan. The company should always make sure they have highly motivated staff as this is directly proportional to good production both in the qualitative and quantitative aspects. Panasonic can do this by coming up with schemes of rewarding their employees like helping them own cars subsidized rates. The company should also make sure the personnel are the best in terms of technical know-how. The company needs to carry out frequent training towards this end.
Financial data and Projections
The previous years have seen Panasonic’s profit grows each year with an exception of 2009 due to the economic downturn as well as the recalls. Tactical Marketing Activities Toyota has taken a bold step in being a leader in sustainable development. This position will need some innovations which translate to expenditure. They are however necessary as a way of staying ahead of competition. The activities the company will embark on are given in figure 3 Figure 3: Tactical Marketing activities
Specific Tactical Activities| Person /Department Responsible| Budget millions of yen| CompletionDate| Product Activities1.Car air conditioning compressor2.DC-DC converters for fuel efficiency 3.Low Exhaust Emission Engine| Production engineers and Product management| 30.45| 2011| Pricing Activities1.New Technologies2.Compression of Production platforms3.Merger of Assembly points| Operations management| 15.25| 2012| Distribution Activities1. Opening up of new factory in America and china2. Machine handling3.Logistical operations| Logistics management| 21.40| 2010| IMC (Promotion) Activities1.Concerts2.Volunteer3Youth Invention club| Marketing manager| 9.20| 2012|
There are a number of activities that have been projected within a life span of three years and the following representation shows the aspects that have been targeted and within what strategic period of time. Year| To be AchievedNew Targeted Markets (millions)| Cumulative Targeted Markets (millions)| Today (2010) Working towards hybrid products| 250| 250|
1st Year (2011)Introduction of pricing mechanism and price differentiation strategies.| 320| 600| 2nd Year (2012)Enhancing hybrid products by use of new technologies| 370| 970| 3rd Year (2013)Product differentiation to meet the needs of the market| 420| 1320|
Evaluation and Control
There is a monitoring and evaluation team that will be set to watch over the progress of the company in realizing the strategic goals. The short term goals will be clearly watched and corrections put in place where targets are missed for they are the keys to fulfilling the long term goals. Currently, the Company has made a clear step forward in ensuring that appliances and computers are being produced, and so far the market has started improving in terms of overall reception of these brands of appliances. Another aspect that is supposed to be considered here is the speed of the roll-out program of pricing mechanism introduced.
Currently, it has taken the market by surprise as most of National Panasonic products are found to be customer friendly. The Company has been able to come up with a differentiation program for its products and this has helped it to have a huge market share. It is projects to improve and reach the target within three years and this will be determined by the rate of growth and the total number of market reached.
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