Question: As a part of the preparation necessary to complete your business-to-business marketing plan, you will need to do in-depth research on Cemex, its operations, global reach, and product range. Start by reading Cemex and Cement Industry Background, and be sure to consider the following questions while you do additional web research:
Where are the company's production facilities located?
What is Cemex's annual turnover in dollars and what is its annual production in tons?
How does Cemex differentiate its offering in a market where cement is a commodity?
Are there differences in product quality?
Who are the major global and US customers?
What benefits does Cemex offer to its customers?
Describe these benefits and tie them to your value proposition. A value proposition is essentially the promise that is made to the customer.
The value proposition should be included in your report. Who are the major global and US competitors?
1: Write a two-page overview explaining your findings on Cemex and be sure to include your value proposition.
This overview will be incorporated into your B2B marketing plan later in this project, along with milestones from the upcoming steps. In the next step, you will take a comprehensive look at the many factors that you need to consider, exploit, or defend against in your plan.
As a member of Cemex's marketing team, you use quantitative and qualitative market information to make important decisions. Your team will use the following tools to conduct an environmental scan:
PESTEL analysis: A PESTEL analysis (sometimes called PEST analysis) enables Cemex to identify, analyze, and monitor the political, economic, social, technology, legal (including regulatory), and environmental factors that may impact its operations (Frue, 2017).
Porter's five forces analysis: Porter's five forces analysis is a framework that can help Cemex understand the competitive forces at play in its industry. These forces may impact how economic value is divided among Cemex's competitors in the industry (Porter, 2008).
SWOT analysis: A SWOT analysis is a planning and brainstorming tool that helps Cemex evaluate its projects and formulate its business plans. SWOT stands for strengths, weaknesses, opportunities, and threats. Cemex uses this tool to identify and analyze its internal strengths and weaknesses, as well as its external opportunities and threats. The results of this analysis may help Cemex improve its business, or forecast how a new product will perform (Harmon, 2016).
Research the cement industry (domestic and international), research market trends, and identify market opportunities, threats, and Cemex's major global competition. Conduct a situation analysis including an internal analysis of Cemex, customer analysis, and an analysis of the macro-environment (external environment). Which elements have the biggest impact on Cemex's success? What factors impact Cemex's business buyers?
Go to the UMUC Library>Research Guides and select the following two research guides: Business and Management and Marketing. Read these research guides. Find and print articles that will help you complete your assignments. It is easier if you conduct a separate search for each section of your marketing plan. Also, use the industry/company databases, such as Moody's, to research Cemex and the cement industry.
2: Conduct the following three analyses for Cemex: PESTEL analysis, SWOT analysis, and Porter's five forces analysis. Present your results in a four-page report (excluding cover page, reference list, tables, graphs, and/or exhibits). Be sure to support your work with scholarly sources, and reliable nonscholarly sources (such as Bloomberg, Yahoo! Finance, Money, Forbes, Fortune, and Harvard Business Review)
These analyses will provide critical information for your B2B marketing plan. In the next step, you will begin to focus on a specific market.
References: Frue, K. (2017). Why do PEST analysis for your business?
Harmon, A. (2016). SWOT analysis. Salem Press Encyclopedia [online]. Retrieved from Research Starters, Ipswich, MA. Accessed February 24, 2017.
Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78-93.
Now that the environmental scan has been completed, the marketing team needs to conduct an analysis of US cement customers. Outline how the team would conduct this analysis, while considering both current and potential product users. Your analysis should address how you would determine answers to the following questions:
What needs are being met by the cement purchase? What are the benefits to the customers? Make sure that you differentiate between features and benefits; go beyond manifest motives and consider latent motives.
Who is involved in the cement purchase process? Who are the influencers, buyers, and users?
Where is cement sold (i.e., distribution channel)?
How often are the different types of cement purchased? Is there seasonality to sales?
Is there any market regulation or self-regulation?
3: Present your results in a three-page report (excluding cover page, reference list, tables, graphs, and/or exhibits). Be sure to support your work with scholarly sources, and reliable nonscholarly sources (such as Bloomberg, Yahoo! Finance, Money, Forbes, Fortune, and Harvard Business Review)
This report should help you develop focus in your marketing plan. In the next step, you will consider exactly what you hope to accomplish with your B2B marketing plan.
As a marketing team, you need to decide on your marketing objectives before you develop your complete Cemex marketing strategy. Marketing objectives are usually described in terms of sales (both in units or dollars) and market share, and should include the US markets you intend to enter or expand into. Knowing exactly where you want to go is essential in deciding how to get there. The objectives have to be measurable, specific, and have a set time limit. Be careful not to have too many objectives, since a limited number of objectives will help you focus. The objectives should be challenging, but achievable.
4: Prepare a one-page document outlining your marketing objectives.
Once your marketing objectives are written, you will begin to examine your market and determine how Cemex can meet these objectives.
The first step in developing a marketing strategy involves segmenting, targeting, and positioning (STP).
Segmenting refers to breaking the US cement market down into homogenous groups. Targeting refers to selecting the customer groups(s) that you will focus your marketing efforts on. The appropriate segmentation variable is dependent on the needs and wants of customers.
These decisions are directly tied to your value proposition and require extensive marketing research on the customers. Once the segmentation variable is determined and the target markets selected, you need to develop the positioning strategy, which refers to the way you want the customer to view the product relative to the competition.
Describe the market research you would conduct to analyze and segment the US cement market. Explain how you would select your target cement markets, and explain the process of positioning Cemex's cement products relative to the competition.
5: Detail your STP strategy in a three-page paper (net), not including the cover page, references, graphs, or tables/figures. Support your arguments using a mix of scholarly and reliable nonscholarly sources. All sources need to be cited using APA formatting; both within the text and in the reference list. The paper should be organized using headings and subheadings to improve its readability.
Your overall STP strategy is important, because it will create a foundation for the refinements you will make in the next step.
Develop your Cemex marketing strategy based on your STP strategy. Remember that these decisions are interdependent, and are part of a whole. Follow the sequence outlined in the marketing plan template.
First you will want to consider Cemex's product or brand strategy. Describe the needs/wants of your target cement customer(s), and how you intend to position Cemex versus the competition. Present a detailed description of the different types of cement that you intend to sell in the US market, including their attributes, features, and quality level, along with the brand names, intended packaging, logo, and supplemental products. As you make these branding strategy decisions, it is imperative that you stay focused on the customer. Remember that Cemex's customers do not buy features; they buy benefits, both tangible and intangible. It is also critical to understand the customer: Think about who makes the cement purchase and who influences that decision, etc.
Next, you will want to think about pricing strategy. Pricing is very strategic as it is the only marketing mix variable that generates income. As a marketing team, you need to decide on your price objectives and strategies. Think about pricing tactics like discounts and incentives. You need to decide whether your pricing strategy should be skimming, premium, or market penetration given the nature of the cement products, your customers, and your major competition. Profit margins and the breakeven analysis will also need to be considered. As you determine your final price points, you'll need to consider the perceived value of your cement products. Describe how you would go about making these decisions, and the major issues involved.
Then you will need to consider Cemex's distribution and supply chain strategy. Remember, cement is a heavy and bulky product, and there are a lot of issues involved in delivering it to the final user. These strategic decisions deal with how customers purchase cement. Will you market the cement directly to your customers or through distributors/wholesalers (intermediaries)? Will you follow an exclusive, selective, or intensive distribution? Distribution decisions focus on marketing channels, as well as the physical distribution of the cement. Explain the criteria you would use to make these distribution and supply chain strategy decisions.
Finally, you should consider your integrated marketing communications and promotion strategy, which is often the most visible element of a marketing strategy. Cemex's communication strategy involves developing an integrative mix of a number of different tools at your disposal, while keeping in mind the needs and characteristics of the target cement market(s). These tools may include a mix of traditional communication elements such as advertising, personal selling, sales promotion, and publicity/public relations. It is essential that your promotion objectives are clearly defined, and that a holistic and integrated marketing communication approach is used.
6: Prepare a four-page report outlining your marketing strategy.
It's almost time to start crunching the numbers that will further justify your overall strategic goals. You will do this in the next step.
Your financial analysis should include the total number of units produced annually, average unit cost, total annual costs (Average unit cost X Number of units produced), average unit price, annual sales (Average unit price X Total number of units sold), and a breakeven analysis.
In addition, explain your schedule for implementation, the controls you intend to put in place, and how you intend to proceed (i.e., contingency plans) when your benchmarks are not met.
7: Prepare a two-page report explaining your financial analysis and implementation. Be sure to support your work with scholarly sources and reliable nonscholarly sources (such as Bloomberg, Yahoo! Finance, Money, Forbes, Fortune, and Harvard Business Review)
In the next step, you will combine the work from this step with all previous milestones to create your complete marketing plan.
Now create your final graded deliverable, combine the work from each milestone in this project into one complete paper. Use the structure outlined in the marketing plan template. Edit the document to ensure that there is clear flow from one section to the next. In addition, prepare a one-page executive summary (included in the page count) that highlights the most important aspects of your marketing plan.
Follow APA style for the text citations and reference list.
The paper should be 20-22 pages (net), not including a cover page, table of contents, and appendices, graphs, tables/figures, and references. The paper should use size 12 font, have one-inch margins, and should be double spaced. Submit your group's marketing plan to the assignment folder below
Before you submit your assignment, review the competencies below, which your instructor will use to evaluate your work. A good practice would be to use each competency as a self-check to confirm you have incorporated all of them in your work.
1.1: Organize document or presentation clearly in a manner that promotes understanding and meets the requirements of the assignment.
1.3: Provide sufficient, correctly cited support that substantiates the writer's ideas.
1.4: Tailor communications to the audience.
1.7: Create neat and professional looking documents appropriate for the project or presentation.
1.8: Create clear oral messages.
2.1: Identify and clearly explain the issue, question, or problem under critical consideration.
2.2: Locate and access sufficient information to investigate the issue or problem.
3.1: Identify numerical or mathematical information that is relevant in a problem or situation.
4.1: Lead and/or participate in a diverse group to accomplish projects and assignments.
4.2: Demonstrate the ability to plan and execute a project, articulating clear objectives and goals for the team.
4.3: Contribute to team projects, assignments, or organizational goals as an engaged member of a team.
4.4: Demonstrate diversity and inclusiveness in a team setting.
6.1: Identify the general (external) environment in which an organization operates and discuss the implications for enterprise success.
6.2: Evaluate strategic implications for domestic and international markets of an organization's industry.
6.3: Analyze an organization's internal strengths and weaknesses for strategic value.
6.4: Develop and recommend strategies for an organization's sustainable competitive advantage.
10.5: Develop operating forecasts and budgets and apply managerial accounting techniques to support strategic decisions.
12.1: Assess market risk and opportunity.
12.2: Analyze marketing information.
12.3: Prepare marketing plan for a new product/service.
13.1: Identify and analyze new opportunities.
13.2: Create and implement new initiative or enterprise.
Information related to above question is enclosed below:
Attachment:- Case.rar