Learning Outcomes
The completion of this assignment requires you to demonstrate the ability to:
- Identify and critically evaluate environmental factors that can affect organisational success.
Categorise and analyse the environmental factors at play and consider their impact on the
Organisation under consideration.
- Undertake a marketing audit of an organisation. Identify and critically assess in a comprehensive fashion the current strengths and weaknesses of the organisation relative to its external environment.
- Apply consistently in-depth knowledge and reference relevant marketing management theories/concepts. Generate a variety of ways of tackling a selected problem and identify options that have a chance of success in the organisation under consideration.
- Identify quantitative and qualitative "information gaps", and the relevant sources needed to fill such lacunae. Prepare and use IT to aid efficient searching, evaluation and selection of information, exploring alternative lines of enquiry where appropriate. Present information effectively, including evidence to support your conclusions.
- Identify and critically assess in a comprehensive fashion the current marketing strategies employed by the organisation in its market. Evaluate and synthesise information from different sources, theories and principles, and communicate relevant information effectively, and with accuracy. Put forward relevant and robust strategic recommendations for the organisation.
- Critically analyse the effectiveness of your strategy, including factors that had an impact on the outcomes, and identify ways to take the firm/organisation forward, and ways of further developing problem solving skills.The word limit is2,000 words excluding cover page, references in the bibliography and the appendices. Your cover page must have your full name and ID number.
All work should be word processed using either Times New Roman or Ariel font, with line spacing and justified.
References must include academic sources.
Assessment: Individual Marketing Plan Report
Marketing Plan for Bank Muscat
The Marketing Plan Task:
Bank Muscat is the market leader in the banking industry in Oman and is committed to providing superior and sustainable customer service and experience. As stated by Thania Al Jahdhamy, Head - Customer Services & Quality, "Bank Muscat is committed to excellence in services extended to the largest banking family in Oman. In line with the bank's customer service strategy and vision, we are always available to interact with customers and assess their evaluation and expectations with regard to services offered by the bank. The bank's new ‘We Can Do More' vision is being pursued to be achieved by creating, sustaining and delivering real and undiminishing value in customer service through Bank Muscat's key element - its competent people."
In your capacity as a Marketing Consultant, you have been approached by Thania Al Jahdhamy (Head of Customer Services & Quality), to develop a marketing plan for Bank Muscat to maintain its market position and provide an even better customer service in the Omani market for the next three years. The focus should be on the bank's Retail Banking business.
Your Marketing Plan must include the following:
- Executive Summary
- Introduction and objectives - Your introduction should include an identification of the products/services being offered by Bank Muskat
- Current market and company situational analysis, including the competition, consumer behaviour, SWOT and/or PEST analyses.
- Market Segmentation- this should emanate from your market situational analysis. You must identify current and possibly new market segments for Bank Muscat's retail business.
- Marketing Plan Objectives - must be specific and realistic.
- Marketing mix strategy recommendations- Note that you will need to recommend your marketing mix strategy for the retail banking business. Your recommendations should stem from the market and company situational analysis. Your recommendations must be relevant to the segments identified in your market situational analysis
- Evaluation and Control - how would the plan be monitored? What tools would you employ?
- Budget- provide a costing for each of your marketing mix strategy. I do not expect you to come up with specific figures, but your costing should be based on research.
Attachment:- Bank Muscat Case study.rar