MBA7003 Marketing

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MBA7003 Marketing

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MBA7003 Marketing

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Course Code: MBA7003
University: Cardiff Metropolitan University

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Country: United Kingdom

Question:

After completing the module the students should be able to:

Demonstrate a profound understanding of the strategic analysis in the global marketing context
Demonstrate a profound understanding of the impact of culture in the International Marketing Context
Analyse the market entry strategies available to organizations and evaluate their relevance in a range of different contexts
Assess methods of measuring effectiveness of marketing strategies, and review current thinking on global marketing management
Critically evaluate and utilise marketing research data and methods to a given marketing situation.

These are academic pieces of work. Therefore every claim students make needs to be justified and supported by academic references. Students are strongly recommended to use academic references from the Cardiff Met online Library and books from the CityU library.
Harvard referencing: The reports must be appropriately referenced using Harvard referencing, and a full reference list included. Students should refer to the Harvard Referencing Guide in the intranet e-learning platform (Student Section)
Plagiarismis a serious offence and may incur severe penalties beyond a fail grade. Students should refer to the Plagiarism Regulations and Examples in the intranet e-learning platform (Student Section)
As above but a slightly less consistently excellent level.  Alternatively, this range of mark may be given for an answer which, while not having original insights, gives comprehensive and accurate coverage of the issues at a high level throughout the answer, without significant omissions or errors.
The answer shows evidence of ability to maintain a personal position in original terms and shows a command of the accepted critical positions with some attempts at innovation.  It is lively and highly articulated, giving evidence of knowledge, enthusiasm and control.  There is demonstration of a clear understanding of the question and a grasp of the complexity of the issues involved, and there is a sound basis of relevant factual knowledge and/or theoretical issues involved, with few significant errors
The answer shows evidence of an ability to defend on the basis of evidence and personal position in relation to an issue or aesthetic.  It shows evidence of evaluation of information and synthesis of generalisations from it.  There is clear evidence of selection of appropriate material, logical structure and clear argument.  The answer demonstrates an understanding of the major or basic issues in the question, and there is a basis of factual knowledge and/or relevant theoretical issues.

Answer:

Introduction
A marketing plan is a distinct part of any effective business plan. The solid marketing strategies could be stated as the subsequent foundations of various well written marketing plans (Westwood 2013). It even includes the description of present market position of the business, discussion of the respective target market as well as proper description of marketing mix, which any business would utilize for the core purpose of achieving the market goals (Peattie and Belz 2013). The marketing plan consists of a formalized structure; however could be utilized as a formal or informal document that makes business marketing quite flexible. Moreover, some of historical data, strategy methodologies and future predictions for achievements of marketing objectives.
Marketing plans subsequently start with identifying customer requirements through proper market research and the process of business is satisfying the needs before generation of acceptable return. It involves major processes like analysis of market situation, sales forecasts, action program, projected financial statement and strategies and budgets (Lovelock and Patterson 2015). Hence it is the most effective technique, which helps the business in deciding on the best utilization of resources for achieving each and every corporate objectives. The following report outlines a brief discussion on the marketing plan for one of the most popular sportswear organization in Finland, called Le Coq Sportif. The market analysis, competition and description of the new chain in terms of 4 Ps would be provided here. Moreover, SWOT analysis will also be done for this organization to understand the market position.
Discussion
Organizational Background
Le Coq Sportif is the French producer of various athletic shoes, active wear as well as sporting accessories. It is one of the most popular and significant organizations of sports wear and was founded in the year of 1882 by Emile Camuset and is eventually located in Entzheim, France. This particular organization at first issued the items branded with the now famous rooster trade mark within 1948 (Le Coq. Sportif.com. 2018). The organizational trade mark and name are being derived from the Gallic rooster, which is the national symbol of France. This particular organization has subsequent sponsorship deals with the various football clubs and majorly the European clubs of Florentina and Saint Etienne. Moreover, this organization sponsors the cycling teams of Quick Step Innergetic as well as Team Milram.
The company of Le Coq Sportif even supplied sports kits to the team of Tottenham Hotspur that was the winner of FA Cup in the years of 1981 and 1982. Moreover, the team of Aston Villa also got kits from them before winning the European Cup in the year of 1982. They even manufactured jerseys to the Tour de France in the year of 2012 under a five year contract with Amaury Sports Organization (Le Coq. Sportif.com. 2018). They have even started supplying the Tour de France in the year of 1951. Le Coq Sportif has become extremely popular and significant due to their excellent marketing strategies and planning and these were responsible for bringing major success within their business efficiently and effectively.
Demonstration of Profound Understanding of the Strategic Analysis in the Global Marketing Context
Strategic analysis can be stated as the significant procedure to develop several strategies for any specific business by simply researching about the business as well as its surrounding environment, where it is operating subsequently (Hartley and Claycomb 2013). The strategic analysis is the external review of what is happening within the environment, in which the short term and long term future plans are observed. Three major aspects are being considered for the proper and effective market analysis and these are organizational members with the skills and competences, their customers as well as their demands and finally competitors with the competitive environment, where the company is eventually operating (De Mooij 2018). A proper strategic analysis comprises of strategic intelligence with the inclusion of aggregation of several kinds of intelligentsia for the purpose of creating a synergy within knowledge management, competitive intelligence and business intelligence and hence providing accurate value added knowledge and information towards making of company’s strategic decisions.
It is extremely vital for formulating strategic planning to undertake decisions as well as smooth working of company. The major goals and objectives of the specific organization could be easily and promptly fulfilled without any type of complexity. With the continuous strive of improvement, the company should periodically conduct strategic analysis for helping them in determining the major areas of improvement and identifying the positive changes in the business (Armstrong et al. 2015). Moreover, for the purpose of maintenance of a position within the globalized market, it is vital to complete a strategic analysis for proper identification of their strengths and weaknesses. This is the part of industry analysis and hence in respect of the globalized environmental analysis.
Le Coq Sportif being one of the most significant and important sports wear organizations, requires proper strategic analysis as well as planning for maintaining their position in the existing globalized market (McDaniel and Gates 2013). They have set a proper goal as well as mission for the organization and being a leading organization, they have realized the importance of strategic planning in their business effectively. The strategic planning can be termed as a long term task, which involves systematic as well as continuous planning or resource investment (Babin and Zikmund 2015). Le Coq Sportif was able to identify their major competitors and hence was able to define the strategy, which would be helpful for them for being an unbeatable player in the market. The most significant functionalities of the strategic planning major includes prediction of future events and even deduction of alternative strategies when a certain plan does not work as per expectations. Le Coq Sportif would be able to proper identify their threats in the global market if a proper strategy analysis would be made. The customer value model of this particular organization helps them in designing their several products and services, which were responsible for maximization of customer value (Czinkota and Ronkainen 2013). This customer value was required by the organization for grasping the major customer needs and even prioritizing marketing activities.
Demonstration of Profound Understanding of the Impact of Culture in the International Marketing Context
Culture plays one of the most important and significant role for business success within the international marketing context. The cultural elements like religion, language, social factors as well as other factors have major impacts on any international marketing strategy (Boone and Kurtz 2013). Culture is the collective occurrence since it is being shared with the people, who are responsible for living as well as have lived in the similar environment. This culture is a collective mind set, which could differentiate several organizational members from any one country to other. For international marketing context, this culture includes planning as well as conduction of transactions within various countries for the core purpose of creation of exchange, which would satisfy the organizational and individual objectives (Lusch and Vargo 2014). Hence, culture within international marketing looks at the procedure of the international business getting promoted after proper consideration of cultural environment, in which the business is being located.
For this particular organization of Le Coq Sportif, culture is mainly responsible for their maintenance of business in the existing market as well as entry in the new market (Strauss and Frost 2016). When the global business emerges, the international marketers eventually tend into entering new market and thus new culture and new people could bring newer opportunities as well as challenges. This business environment has also evolved in terms of continuous globalization of international market since it appears to be in an increasing speed and frequency of competitors. Culture not only denotes civilization, but also traditions and customs of that country. Furthermore, the customer behaviour remains diverse and these customers are rational; however could even change the consumption habits within favour of cheap products, which are available within international market (Shank and Lyberger 2014). Since, Le Coq Sportif is responsible for providing sports wear for their customers and hence cheap products are not always possible for them.
Competition for Le Coq Sportif
Although, the marketing plan comprises of a specific list of actions; if a proper strategic foundation would not be present, it would not be a use to that particular business. Marketing plan is the comprehensive blueprint or document, which outlines major business advertising as well as marketing efforts for any particular year in future. This type of plan eventually describes several business activities that are being involved for the subsequent accomplishment of several marketing objectives or goals in a time frame. Le Coq Sportif has been doing their business for last 136 years and have acquired several customers for obtaining major competitive advantages within the business by paying major attention to various cultural factors. The issues related to cultural differences should be solved under every circumstance and hence there exists a major opportunity for the organization of Le Coq Sportif (Armstrong et al. 2014).
Due to the cultural differences in the new international market, Le Coq Sportif might face major and significant competition for their business. This business competition can be referred to as the procedure of organizations as well as individuals eventually competing within the similar industry or field. This type of intense competition subsequently applies virtually to every business and its organizational members. The market competition for the business is the core rivalry within organizations that sell same products and services with the objective to achieve profit, market share growth as well as revenue (Stelzner 2014). The most important and noteworthy competitors of Le Coq Sportif are Amer Sports, Koho Company, Exel Composites, Eider, Lacoste, Lestra, Beuchat, Patrick, Venum and many others.
Description of Le Coq Sportif in terms of 4 Ps
The market competition eventually motivates the organization of Le Coq Sportif in increasing their sales volume as well as market share by simply using four significant components of the marketing mix, also termed as 4 Ps (McDonald and Wilson 2016). These four components are product, place, promotion and price. The description of these 4 Ps of marketing mix are as follows:

i) Product: Product refers to the respective goods and services amalgamation that the organization is eventually offering to its target market. The products are also tangible and they refer to the type of products that are being produced by the company. The customer demands and needs are properly fulfilled with the help of these products and services (Papadopoulos and Heslop 2014). Le Coq Sportif eventually provides several products and services for the purpose of satisfying their customers. The products of this organization are athletic shoes, active wear as well as sporting accessories.
ii) Place: This place refers to the distribution of products for their customers of Le Coq Sportif. Place refers to the location, in which the products are getting distributed and how the customers are getting them (Baker 2016). Online ordering and delivering of products and services is possible in this organization and hence they have become extremely popular for their customers.

iii) Promotion: Promotion refers to the marketing strategies of their products for boosting sales as well as brand recognition. It comprises of several elements such as public relations, sales promotion and advertisements (Baker 2014). The communication methods are also covered within the radio commercials, internet advertisements and television advertisements.

iv) Price: The fourth component of marketing mix is price. It eventually refers to the price of the products and it helps in determining the organizational profit as well as survival. The adjustments of price of these products comprise of a major impact on the entire marketing strategy.

Analysis of Market Entry Strategies Available to Organization and Evaluation of its Relevance in Different Contexts
The introduction of new product and revamping of present marketing strategies are also utilized for preparing a detailed case for the marketing plan. This type of planning involves some of the major aspects, which are marketing research, competition, market plan strategies, market plan budget, marketing goals and finally monitoring of the respective marketing plan results. Before entering into any new market, it is extremely vital to identify the several strengths, weaknesses, threats and opportunities of that particular organization. When Le Coq Sportif is entering into any new market, it is required for them to know about the culture of the country or market and hence identifying the demands of customers effectively (Belch et al. 2014). The proper analysis of culture would allow them to take proper decisions regarding customer demand and market position. SWOT analysis would be effective for them for identifying their opportunities within the Greek market.
The SWOT analysis of Le Coq Sportif is given below:

Strengths

Weaknesses

i) The first strength of Le Coq Sportif is its popular brand name.
ii) The second strength of this particular organization is that it provides products to popular events (Ryan 2016).
iii) Unique marketing strategy is the third strength of Le Coq Sportif.

i) The high price of products and goods is the first and the most important weakness of Le Coq Sportif.
ii) Weak branding is the second weakness of this company in comparison to other organizations.

Opportunities

Threats

i) The tie ups with other popular sports events is a major opportunity of this organization.
ii) The second opportunity of Le Coq Sportif is its more global products for the global market.

i) The first threat of this organization is the threat from several sports wear organizations (Ahmed and Rafiq 2013).
ii) They have often got complain about product quality and it is an important threat of the company.

Table 1: SWOT Analysis of Le Coq Sportif
They could utilize the marketing strategy of direct exporting for entry in new market. This type of exporting refers to selling directly into the market that have been selected by them with the help of the first instance with resources (Fill and Turnbull 2016). Moreover, the other marketing strategies of licensing and franchising are also useful for Le Coq Sportif.
Assessment of Methods for Measuring Effectiveness of Marketing Strategies and Reviewing of Current Thinking in Global Marketing Management
Le Coq Sportif comprises of several unique and significant marketing strategies in their business that help them to be on top position in the global market (Westwood 2013). The marketing strategies is referred to as the major section of any business plan, which eventually outlines the entire plan to find customers for the business. The marketing strategy then focuses on what is required to be achieved for the business as well as their marketing efforts. The marketing plan of Le Coq Sportif provides details of the procedure of any business achieving several business goals and objectives. It is extremely important and significant for them to make a long term and forward looking approach to plan for the subsequent fundamental goals of achieving sustainable competitive advantages (Peattie and Belz 2013). This strategic planning of Le Coq Sportif has also involved the proper analysis of organizational strategic solution prior to selection, evaluation and formulation of market oriented competitive positions, which contribute to marketing objectives and organizational goals.
The methods for measuring the effectiveness and efficiency of marketing strategies for Le Coq Sportif within global marketing management are as follows:

i) Brand Awareness:  The first and the most important and significant method for measuring marketing strategy effectiveness is brand awareness. The proper knowledge of brand awareness is extremely important for industries with the long sales cycles and the customers eventually tend towards doing more research for reaching out to get more information (Hartley and Claycomb 2013). The results of brand awareness are extremely of long term and hence they do not expect of an immediate return. Being one of the most popular and noteworthy sports wear chain in Finland, Le Coq Sportif has framed their brand effectiveness majorly and this proves that the marketing strategies are extremely effective for them.
ii) Marketing Contribution to Revenue: The marketing contribution to revenue helps Le Coq Sportif to understand the current thinking as well as effectiveness of marketing strategies easily without much complexities and hence these prove to be quite effective.

iii) Conversion Rates: Another effective and important method to measure the effectiveness of marketing strategies of Le Coq Sportif is conversion rate. The subsequent percentage of various visitors, who have taken special action to the official website (Babin and Zikmund 2015). The effectiveness of efforts are also checked with the help of these conversion rates.
Conclusion
Therefore, from the above discussion, it can be concluded that marketing plan is responsible for providing a brief overview of the complete analysis of several strengths, weaknesses, opportunities and threats of any organization as well as the products. A series of actions or steps are shown with the help of marketing plan and these actions are used for the proper achievement of planning goals. This marketing plan even involves the subsequent strategy for increasing the market shares of business majorly and it outlines the business objectives for describing various applications of marketing resources. The most important and significant purpose of a marketing plan is to set the organization within a specified path in marketing.
The respective goals of this marketing usually align itself to the broad organizational objectives. Moreover, customer awareness is increased to a higher extent and hence acquiring market shares and position becomes quite easier for the particular organization. There are various aspects of the marketing plan that are related to accountability. Hence, it is the general responsibility of the organizational leaders as well as marketing staffs to direct the company within any specific direction. When the strategies are being laid out and several tasks are developed, every task is eventually assigned to the team for deployment. Moreover, with the presence of marketing plan, the organization can easily develop or keep an eye on the major expectations for the functional areas. The above report has clearly outlined the marketing plan for a popular sportswear organization in Finland, Le Coq Sportif. Relevant details regarding this marketing plan with global market analysis are provided in the report. SWOT analysis is also conducted for the company.
References
Ahmed, P.K. and Rafiq, M., 2013. Internal marketing. Routledge.
Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Baker, M.J., 2014. Marketing strategy and management. Macmillan International Higher Education.
Baker, M.J., 2016. What is marketing?. In The Marketing Book (pp. 25-42). Routledge.
Belch, G.E., Belch, M.A., Kerr, G.F. and Powell, I., 2014. Advertising: An integrated marketing communication perspective. McGraw-Hill Education.
Boone, L.E. and Kurtz, D.L., 2013. Contemporary marketing. Cengage learning.
Czinkota, M.R. and Ronkainen, I.A., 2013. International marketing. Cengage Learning.
De Mooij, M., 2018. Global marketing and advertising: Understanding cultural paradoxes. SAGE Publications Limited.
Fill, C. and Turnbull, S.L., 2016. Marketing communications: brands, experiences and participation. Pearson.
Hartley, R.F. and Claycomb, C., 2013. Marketing mistakes and successes. Wiley.
Le Coq. Sportif.com. 2018. [online] Accessed from https://www.lecoqsportif.com/ [Accessed on 31 Dec. 2018].
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Lusch, R.F. and Vargo, S.L., 2014. The service-dominant logic of marketing: Dialog, debate, and directions. Routledge.
McDaniel, C. and Gates, R., 2013. Marketing research. Singapore.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.
Papadopoulos, N. and Heslop, L.A., 2014. Product-country images: Impact and role in international marketing. Routledge.
Peattie, K. and Belz, F., 2013. Sustainability marketing: A global perspective. John Wiley and Sons.
Ryan, D., 2016. Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers.
Shank, M.D. and Lyberger, M.R., 2014. Sports marketing: A strategic perspective. Routledge.
Stelzner, M., 2014. 2014 social media marketing industry report. Social media examiner, pp.1-52.
Strauss, J. and Frost, R.D., 2016. E-marketing: Instructor’s Review Copy. Routledge.
Westwood, J., 2013. How to write a marketing plan. Kogan Page Publishers.

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