Critical Assessment
Table of Contents
- Introduction. 2
- Specific evaluation of the plan. 3
- a) Corporate connection. 3
- b) Marketing audit 3
- External marketing analysis. 3
- Internal marketing analysis. 4
- c) Market objective. 6
- d) Marketing strategies. 7
- e) Tactical marketing decision and action plan. 8
- f) Organization and implementation. 9
- g) Marketing control 10
- Holistic evaluation of the plan. 10
- Recommendation. 11
Introduction
At the onset of business expansion, changes in the market are expected to increase and thus coming up with a market plan is quite an important process as it enables the business to be able to undergo a total brand transformation. The library is located in the southwest part of the United States, specifically in Nueva Vista hence resulting to the library being named after the city Vista. Vista region has contributed greatly to the establishment and even the expansion of the Vista library. This is due to the immense increase in the region’s population over the years due to the construction of a recycling industry within the area that has attracted new businesses within the area and ultimately resulting to the construction of residential buildings. Social amenities such as schools have also been established within the area so as to cater for the educational needs of the Vista’s population. An increased demand for library services is thus experienced within Vista region. However, the community population that uses these services is quite low. Therefore, in an effort to increase the utilization of the library, the library management has come up with a market plan that is fully detailed and has strategies on how to increase consumer population. The library, therefore, targets the Vista community at large that is, all the learners of all ages, for instance, the scholars and primary and secondary school students. The library is determined to increase its participation in the social programs and in offering an inspiring program to improve the sense of Neuva Vista community. The library is well staffed and has enough space to accommodate the ever-increasing population of Vista. For it to fully meet the needs of their target market, the library has a number of separate areas for all people across all ages that are an area for teens and study areas. The library also holds events such as classes for kids all the way to seniors. The library is open on all days and this ensures that all those who are interested are able to access the library services. Most of the people are low-income earners and thus the library since it is a public library it targets to deliver their services to these low-income earners who are interested in acquiring library services. This is a great opportunity for the library to make a difference to the entire society through their diverse service provision to the less disadvantaged. This paper will, therefore, seek to clearly evaluate Vista public library market plan.
The mission and vision statements are quite appropriate and focused towards achieving their goals. This market plan is efficient as it clearly presents the mission and vision statement of the library. This is essential for any business as it enables the business to succeed and attain a long-lasting sustainability. The mission and vision statement are quite vital as they act as a compass that directs any successful business and lightens the path that leads the business to safety as it fosters direction to the business.
PESTLE analysis is vital to any business success. This is a market tool that is used to track the whole environment to which the business is operating. It assesses the political, economic, social, Technological, legal as well as environmental (MAY 2010, 17).
The market plan failed to consider either the political or legal factors that would put their business at risk or even offer the business an opportunity. However, it is important to note that while analyzing the market it is quite hard to ignore and rule out these factors as they play a big role in ensuring that the business succeeds in its strategic plans. Considering these factors is essential as failure to do so may affect other factors such as the economic environment of the business to a greater extent.
Economical factors: the plan failed to mention about the economic aspect that might influence their business. This is quite an important factor and thus ought to be considered. With the diminishing profits following the low use of the library services by the community, the plan out to have considered the economical aspect so as to be able to reorganize their sales and marketing campaigns.
Ecological factors: the plan did not consider any ecological element such as climate change, environmental offsets, and geographical location. Though these factors do not directly influence the business, they are still important to be considered so as to enhance the plan’s success.
Technological factors: the market plan offered by Vista public library is likely to affect the operations of the business in unfavorable a way. This is due to the lack of technological advancement as a result of inadequate resources for hiring technologists and purchasing of technological devices.
Social factors: the plan does not consider social factors that may influence their business. However, it clearly states that the business lacks community relationships and this is a threat to the business and may affect their operations negatively.
Internal analysis is an important element of the strategic market plan. In order to have an effective internal analysis, SWOT analysis is used. SWOT analysis (Strength, Weakness, Opportunities, and Threats), combines both the external and internal analysis to review the business’ strengths, weakness, opportunities, and threats. The external factor of the SWOT analysis deals with opportunities and threats while the internal factors take care of strengths and weaknesses of the business (MAY 2010, 35). The plan clearly outlines its internal analysis.
Strengths: the market plan has a set of core competencies that present the library with an advantage in meeting the needs of their target markets. The library has an enthusiastic team of employees who are friendly and flexible thus enabling them to actively meet the needs of their customers and also offer unique services to their target markets.
Weaknesses: the market plan also indicates some of the limitations that the library faces in developing and implementing their strategic plan. This detracts the business from the value that it offers and places the library at a competitive disadvantage. Having the plan identify with what the library business lacks enables the business to establish a strong strategic plan that focuses on improving their business so as to achieve the business objective. Inadequate resources within the business are the major reason contributing to the library’s weaknesses.
Opportunities: opportunities are regarded as external factors. The plan outlines various opportunities that play out well with the strengths of the library business. Once the business leverages these opportunities well, a good reward will be produced.
Threats: the market plan presents some of the barriers that hinder the library business from reaching their desired goal. Most of the threats presented are beyond the library’s control but can be mitigated. Some of these threats are discussed below.
- “Community perspectives’ including that Vista is traditionally a conservative community, Vista Public Library had past conservative management, and the diverse population has differing needs” (Beck et al 2010, 8).
Although it has an external factor and is outlined as one of the threats faced by Vista public library, it might be a sign of a weakness. This is because the library has to branch out its products and divisions so as to meet the diversified needs of the diverse population.
- “The previous reputation as a quiet place for intellectuals and bookworms” (Beck et al 2010, 9).
This is an unfavorable customer perspective that may hinder the library from achieving its market goal. People think that the library is set apart for only a group of people.
- “Larger space with increased shelving capacity, but the collection is still limited and needs to grow” (Beck et al 2010, 9).
Though this is an external factor, it also has an element of weakness. This weakness seriously threatens the business as it competitively disadvantages the organization.
The plan outlined four main objectives and sub-objectives under each objective to be accomplished:
- Complete re-branding process
- Community Analysis
- New Logo
- New Graphics Standards
- Revitalize general marketing and promotion
- Utilize social media tools
- Build partnerships with local businesses and organizations
- Market segmentation
- Redesign the library website
- Update OPACs
- Add more content to home page
- Internal marketing strategies: empowering the staff
- Train staff
- Keep staff informed
However, these objectives meet the basic strategic or general plan criteria but lack to mention the timeframe for implementing these strategies. However, it is important to note that the plan has tactical and specific short-term objectives, which will make it easier for the strategies as well as action plans to be fully evaluated in the presence of clearly outlined objectives.
The product
The market plan incorporates a good market strategy that seeks to effectively elaborate appropriate action plans to achieve the market objectives of the business as outlined above. The plan utilizes the 5Ps of marketing in developing the business techniques that will enable it to accomplish their market objectives.
Product
The plan offers an actual differentiation strategy that focuses on differentiating its products from its competitors. This differentiation based on quality services and equipment, features and technology.
Promotion
The plan seeks to organize community outreach programs that would enhance more of the target market to realize the existence and operations of the library. The plan also mentions of marketing tactics that are also utilized so as to attract people to the business. The plan seeks to use promotional fliers and to establish a market firm that would help in building the brand for the library.
Price
The plan form of pricing is customer value-based pricing which is based on conveying value to consumers and this will give the business a better chance to achieve their objective.
Place
The plan indicates that the library will offer direct services and products to:
- Their newly renovated community library
- The local high school
- The community through the community outreach program
The plan gives a more detailed sequence of steps that the library business must take so as to accomplish their strategy (Luther 2001, 13). It offers three phases that the business intends to use so as to attain their objectives. These phases are as follows:
Phase 1
Community Analysis & Rebranding
Phase 2
Web Redesign
Phase 3
Continuing Community Publicity
The action plan is complete as it outlines all the activities to be carried out in all the important parts of the community. The plan is also clear as it visibly indicates who is responsible for doing which task and gives a time frame for accomplishing these activities. The plan reflects on the current work, hence allowing the anticipation of the emerging opportunities in the business. These action plans are in line with the vision and mission of the business. The action plan also indicates or rather budgets for what resources are needed for these action plans to be fully achieved.
The plan clearly indicates on the organization of the business and on the implementation process of the strategic plan of the business. It elaborates on the issue of monthly progress review and budget review so as to determine the effectiveness of the strategic plan implementation process. It also clearly states on who is responsible for undertaking the implementation and following up on the progress.
The plan effectively outlines marketing control techniques that seek to measure the performance of the current market strategy implemented and identifies the unseen and areas that need to be adjusted and sets new action plans with the changes added.
The average quality of this plan is good since it has tried to capture most of what a good market plan should have. To be precise, the plan would be awarded a 70% mark. However, the plan has some of its flows which include:
- The plan lacks a clear strategic plan: The strategic plan refers to the business general objectives and it must have a time frame of three years.
- Lack of positioning: Positioning is formed a very vital component of any business achievement. The major aim of flourishing positioning is to influence consumer perception of a product in relation to the perception of competing brands. It focuses on occupying the minds of consumers in a unique and clear manner hence enabling the business to have an advantageous positioning.
- Poor customer-oriented marketing plan: The plan fails to thoroughly research the marketplace and the target market and this result to their failure in creating awareness about the products and services that they offer. This has resulted in the low acceptance rate by the community members who are the target audience. This has also contributed greatly to the poor positioning of the business hence they are unable to meet the needs and preferences of their consumers.
- Lack of resources: This has resulted in poor services and inadequate provision of a collection in the business. The fact that the business lacks adequate resources for their business only means that it needs to improve on this in order to fully provide the customers with a wide collection of books. Lack of resources in the library has resulted in the minimal hiring of staff, inadequate equipment and technological devices hence leading to an unsuccessful outcome of the business. Inadequate staff will result in poor services as the few who are employed are overloaded with the work hence are unable to fully cater to the needs of the customers.
- Lack of technological advancement: It has also contributed greatly to the lack of utilization of the big data. The world is globalizing and everything is changing towards a digital era. It thus calls for businesses to be at the forefront of adapting to these changes and accepting the technological advancement. However, with the budget and resource constraints in the business, the business is unable to position itself hence resulting to a decreased number of customers as they fail to consider it as a distinct advantage to them.
- Implementing a customer’s oriented marketing plan: The world that we are living in is a competitive one. It is therefore very essential to make the business market-oriented. This can only be enhanced through researching the marketplace as well as the target market so as to be able to modify the business and all of its products and services hence shaping the business to match the needs and preferences of their consumers. The business should be market-oriented and pay attention to customers’ needs (DALGIC & YENICERI 2013, 12). It is quite clear that the library ought to prioritize in making their customers satisfied and all their resources are geared towards their target market. The target market, therefore, needs to be enlightened that the library offers services to all kind of people and in doing so the threat of losing customers would be diverted into becoming an opportunity.
- Utilizing technology: The plan should offer adequate technological advancement as this will be a great opportunity for the expansion of their business as the world is moving towards a technological age. The plan should states that they have updated their technology and websites which will enable the business to create awareness about the library to the community and other members who are interested in library services in Vista. The business should look for sources of funding for their resources hence allowing the business to purchase the necessary devices that are needed for technological development. For technology and innovations to fully diffuse to the majority of the people, it is important that the business speeds up their process by making their innovators and early adopters empower the innovations. This form of indirect marketing can be enhanced through a word of mouth where consumers after consuming the goods or after receiving a service, they spread the news to others hence attracting more of the target audience. This will ultimately increase the customer base with time and therefore will increase the business returns.
- Increased social interactivity: For the plan to be sufficient, it should consider the issue of social media platform that will foster interaction between the customers and the business. The plan should seek to utilize some of the tactics to create awareness of the features and benefits that the library offers so as to entice the target market to check out what they offer. The plan should also seek to use digital media in creating awareness through reinventing on online media via renaissance of the library’s website. The use of the social media platform to interact with consumers in an integrated manner will be a great contributing factor to the success of the business. Being a public library, the plan may be considered as interactive with customers through the social activities and through the business website hence resulting in a bigger interaction. It is recommended that the library should use the social media platform so as to launch and advertise on an event such as a contest or lunch classes that will involve most of the target audience. In doing so, the area coverage will be large and hence allow people to have knowledge about the library and are aware that it still exists. Through these social activities, the business will be able to realize and identify the important customer preferences hence allowing them to have an opportunity in meeting these demands to their customers. Continuous and consistent organization of social events and even posting on social media will create a lasting effect on the minds of the target audience hence enabling the business to position itself in the minds of the customers.
- A clear strategic plan: Each strategic plan should have an allocated time within which all the activities outlined under this plan must be accomplished. For instance, the strategic plan, in this case, ought to have a planning period. This is essential as it helps in planning for the future medium and long-term goals that often take place between 3-5 years (MAY 2010, 45).
- Perfect positioning: The library may position itself as a community-friendly library that serves the community, in addition to its participation in social activities. This positioning will create a positive image and branding of the library services and products into the minds of the people hence increasing their popularity and profit base (Dahlén & Lange 2008, 125).
- Undertaking an ethnographic research: The business should carry out a thorough research so as to further discover the consumers’ preferences and needs. This will help the business to implement an appropriate and successful market-oriented plan since surveys are inadequate. This is because people at times tend not to express their preferences openly. Therefore, it is important to implement the use of ethnographic research. This kind of research will also be intrinsic in defining segmentation which the library should focus on and how it will position itself (Schensul et al 2013, 188).
References
DAHLÉN, M., & LANGE, F. (2008). Marketing communications. Hoboken, N.J., Wiley.
LUTHER, W. M. (2001). The marketing plan: how to prepare and implement it. New York, AMACOM. http://site.ebrary.com/id/10120161.
MAY, G. L. (2010). Strategic planning: fundamentals of small business. New York, Business Expert Press. http://portal.igpublish.com/iglibrary/search/BEPB0000035.html.
SCHENSUL, S. L., SCHENSUL, J. J., & LECOMPTE, M. D. (2013). Initiating ethnographic research: a mixed methods approach. Lanham, AltaMira Press, a division of Rowman & Littlefield Publishers, Inc.
DALGIC, T., & YENICERI, T. (2013). Customer-oriented marketing strategy: theory and practice. New York, Business Expert.
Beck, M, Dodge, H, Holdman-Ross K & Tiemeyer, R. (2010).Vista Public Library Marketing Plan 2010 -2012. Retrieved from: https://melissakay83.files.wordpress.com/2010/11/marketing-plan1.pdf
