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BSBMKG501b presentation 6
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1
BSBMKG501BIDENTIFY AND EVALUATE MARKETING OPPORTUNITIES PRESENTATION 6
2
PRESENTATION OUTLINE
At the end of this presentation you will know about:
• Making operational changes
• Servicing existing customers
• Communicate viability
• Document marketing opportunities
3
MAKING OPERATIONAL CHANGES
• Whenever an organisation takes advantage of new market
opportunities some changes to its operation will be required.
These changes can be categorised under six main headings:
① Staff
② Work Practices
③ Premises
④ Equipment
⑤ Legal
⑥ Financial
4
MAKING OPERATIONAL CHANGES
Staff
• New sales staff and new support staff may be needed to
accommodate the increase in sales and provide after sales service
• All staff will need to be trained to carry out their roles in the new
market
Work Practices
• Policies and procedures need to be reviewed to ensure that they
accommodate the new market and ew systems might need to be
adopted
Premises
• The organisation’s premises could need to be relocated, refurbished
or refitted
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MAKING OPERATIONAL CHANGES
Equipment
• New specialised equipment could be required
• General equipment which any organisation could need includes:
• Telephone systems
• Computer hardware and/or software
• Moto vehicles, such as a delivery vehicle for the restaurant
• Cash registers
• Forklifts and pallet trucks
• Packaging equipment
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MAKING OPERATIONAL CHANGESLegal
• New markets can make an organisation subject to legislation which had
not previously applied to its activities
• For example, an organisation which decided to sell its products to the
consumer market, after having sold exclusively to the business market,
would find itself subject to the consumer protection laws
• New markets could also be subject to new regulations or license
requirements
Financial
• An organisation may have to prepare detailed accurate documentation of
the expected financial impact of the new market opportunity.
• It could also have to change the way is manages its finances if the new
market needs different financial arrangements from the old one
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SERVICING EXISTING CUSTOMERS
• Whenever an organisation takes advantage of a new marketing
opportunity it must consider the impact this will have on its
current markets
• Customer service is one area where the impact can be significant
and therefore it needs careful planning and management
• The organisation must firstly define acceptable levels of customer
service and how these can be measured
• It must then document all of the factors which could affect service
to existing customers and make detailed plans to manage these
factors
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SERVICING EXISTING CUSTOMERS
• Staff performance is the most important factor determining the
quality of customer service
• Increasing the market or entering a new one will impose extra
work loads onto an organisation’s staff
• If the extra load is significant this could cause a deterioration of
service to existing customers
• Performance is also affected by the training that staff have
received
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SERVICING EXISTING CUSTOMERS
• Customer service depends on staff having the appropriate
equipment for existing and new markets
• New markets may require the adoption of new procedures, or
adaptation of existing procedures
• Financial (notably cash flow) issues can impact greatly on
customer service
• Organisations entering new markets need to ensure that they
have adequate cash reserves so as not be forced to reduce their
service to existing customers
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SERVICING EXISTING CUSTOMERS
Estimating Resources
• When an organisation enters a new market it requires additional
resources and a reallocation of existing resources to open the
market and service it
• Resource requirements should be estimated based on:
• Knock on effects: the effects on other aspects of the
organisation’s business
• Time: the time taken to adjust to new resource requirements
• Logistics: how the changes can be implemented
• Cost
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SERVICING EXISTING CUSTOMERS
Distribution Costs
• New markets can be new products, new geographical areas or new
methods of distribution, all of which will add to the organisation’s
distribution costs
• If an organisation’s new product is much larger/bulkier than its
current stock, then distribution of the new product will require
different methods of transportation and packaging
• Delivering goods into new geographic areas will also incur extra
distribution costs, especially if the new area is further from the
distribution point than the current markets
• Entering the online market could require new methods of
distribution and other resource, such as packing material
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SERVICING EXISTING CUSTOMERS
Equipment
• Many new markets require new equipment
Production
• Manufacturers and fabricators may need new supplies of raw
materials and operators who had been trained to produce the new
products
Promotion
• Organisations must plan their promotional campaigns to suit their
own needs, culture and budget to ensure they have the resources
they need
Research and Development
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SERVICING EXISTING CUSTOMERS
Research and Development
• Marketing opportunities need to be thoroughly researched to
establish their potential
• Organisations need to know what research resources they need
and whether they can conduct their own market research or have
to use market research organisations
• After a new market has been identified it needs to be developed,
especially for a new product
• Each market and each product have their own unique research and
development requirements and a significant amount of research
and development must be put towards identifying resource needs
of the new markets and developing these resources
14
SERVICING EXISTING CUSTOMERS
Re-Tooling
• Manufacturers who develop new products need to re-tool their
factories and need to budget for this when the organisation
develops the new market
• This can be a simple adjustment of current resources
• Entering a new market will alter an organisation’s requirement for
resource and these changes need to be estimated and budgeted
for whenever a new opportunity is being assessed
15
COMMUNICATE VIABILITY• Once the viability of changing operations has been determined, the
nature and viability of the changes need to be communicated to key
stakeholders within the organisation
• Any viability will be assessed in terms of:
• Financial: the change must be able to produce a profit within an
acceptable time frame without dangerously reducing cash flow prior
to that time
• Physical: the physical resources such as suitable premises, adequate
equipment and suitable infrastructure must be available or obtainable
• Effects on other markets: the proposed changes should enhance or
at least cause no damage to the organisation’s existing viable
markets
• Effects on the overall operations of the organisation
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COMMUNICATE VIABILITY
• There is some risk in entering a new market and the opportunity
can only be viable if the benefits outweigh the risks
• One serious risk to implementing any change can be resistance by
people who are affected by it
• Many of the stakeholders do not want to know all the details of the
proposal and its viability. They simply want to be sure that the
appropriate personnel have assessed it thoroughly
• The offer of a full analysis is reassurance to these people that the
evidence is available
• This also enables the message to be kept short and simple,
increasing the chances of it being understood
• Those who want the details also have the option of seeing them
17
COMMUNICATE VIABILITY
• A key stakeholder is anyone who plays a part in implementing the
change or anyone whose function is affected by the change, and
can include:
• Board of Directors
• Finance Staff
• Human Resources Staff
• Managers
• Marketing Personnel
• The Owners
• Production Staff
• Supervisors
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COMMUNICATE VIABILITY
• The viability of proposed changes to operations must be
determined and then communicated to all key stakeholders as the
success of the changes depends on their support
• The key stakeholders will not give the level of support needed
unless they clearly understand the benefits of the changes and
have confidence that that proposal has been properly assessed
19
DOCUMENT MARKETING OPPORTUNITIES
• Changes which need to be made in response to new marketing
opportunities must be documented:
• To ensure that all changes, including knock on effects, are
identified and appropriate plans are made to manage them
• As a means of informing all personnel who need to know about
them
20
PRESENTATION SUMMARY
Now that you have completed this presentation you will know about:
• Making operational changes
• Servicing existing customers
• Communicate viability
• Document marketing opportunities