A Strategic Marketing Plan for Marah Land

AStrategic Marketing Plan for Marah Land

Institutional:

AStrategic Marketing Plan for Marah Land

Background

Understandingthe challenges that faces a company and or an organization requiresone to have an in-depth understanding of the effectiveness of thecompany’s policies as well as the strategies laid to forge asuccessful future. For the latter to happen, it is imperative for themanagement to evaluate whether the current strategies are working ornot and if not, why and assess what can be done to salvage thesituation. According to Azhar(2009),strategies are ways in which a company reaches out towards achievingits goals and set objectives. Strategic marketing plan constitutingthe management decisiveness, action and analysis, are the factorsthat helps a company to create and sustain its competitive advantageamid the different performance as per the constant variables andthreats (Azhar2009).This paper pursues to develop a suitable strategic marketing planthat will enable the Marah land recreational facility maintain itscompetitive advantage amid the stiff competition it is facing in itsfield of specialization.

EnvironmentScan

Today’sbusiness field is in a major way impacted upon by the environmentalfactors, which are operational at any international platform,cross-cultural and any other cross border platform (Babatundeand Adebisi 2012).The incorporation of environmental scanning into the businessmanagement strategy gave the business managers an opportunity to seethe reality within their area of operation, giving them better chanceto come up with favourable strategies to make their organizationsperformance competitive. Faced with the current competitors andpossible new entrants, the Marah Land amusement park to withstand thechallenges it is facing and come with strategies that will make itrelevant in its area of business amidst the rising competition. Forthe latter to be done successfully, the Marah Land must operate alongparameters that propel them a head of their main competitors. Thiscan be done by offering better services considering their long andcredible relationship they have had with their customers. At the sametime, the company should strengthen their strong brand name bydiversifying their services and regulating the prices to gaincompetitive advantage (BabatundeandAdebisi 2012).These could be the easiest of the strategic marketing plan factors tomanipulate from the management side, to attain the desired impact.This takes proper planning to ensure that the competitiveness of abusiness is conducive in the sense that its operations arecompetitively well placed in the market. With this consideration, theMarah Land amusement park should consider the possibility of a newentrant and how best they can withstand such competition withoutlosing their command in the market share. This threat can becountered by diversifying their quality services and increasing theirmarketing strategies. Similarly, they should monitor those externalfactors that are giving them competition, especially from their maincompetitors as well as the upcoming ones and adjust towards them tokeep their park competitive and appealing to its target clientele. Byconsidering these factors, the park shall have positioned itself in acompetitive position thus gaining the competitive advantage.

Genericand Growth Strategy

Thisis a very important strategic marketing plan that if taken intoconsideration in a serious way, can yield much desired result inperformance of the Marah Land Park, in line with its competitiveadvantage. Fung(2014)observes that it is not a strategy one can rush over, but one thatrequires time and great consideration. It is as well vital toconsider that each of the specific strategy chosen has its variedimpact upon the individual target customer, thus it is equallyimportant to consider first the strengths of the company and thepossible outcome of the choices made (Fung2014).Generic and growth strategy can be affected in two dimensions to givethe Marah Land Park the competitive advantage in its area ofspecialty. According toFung (2014),emphasizing on cost minimization and focusing on strategic valuedifferentiation within a target market can help a firm like MarahLand Park attain its much-desired competitive advantage to stayafloat in its business field. The latter can be achieved through thefollowing factors:

Costleadership strategy

Thisentails competition for the highest number of clients within aspecific field of business (Fung,2014).This works best in a business area where services are constant and orstandardized, thus allowing the company to sell its common servicesat a lower price compared to its competitors. This can be achievableif Marah Land Park decide to lower its cost of obtaining therecreational facilities they use in their park to enable it to lowertheir price of their services thus giving them the market share tomaintain their profits.

DifferentiationStrategy

Thisstrategy entails the MarahLand Park coming up with superior recreational services that are moreappealing to their clients than those offered by their competitorsare. This is a strategy that gives a firm a competitive advantage byseparating services and goods from the common pool as offered by yourcompetitors but at a slightly higher price, setting yourself from thenormal competition (Fung,2014).This will call for the Marah Land Park to carry out a thoroughresearch on the services that can give them competitive advantage byplacing them ahead of their competitors. To achieve this, they needto have a highly skilled team to develop new product creatively,build a strong sales and marketing team and build a reputation forquality-oriented services (Fung,2014).

FocusStrategy

Thisstrategy involves giving specialized serviced to your targetclientele without specifically placing emphasis on the number ofclients but rather the quality you give to the few customers to buildloyalty(Fung,2014).The whole point here is to give quality services and products to yourlimited customer base compared to your competitors who are serving amuch broad customer base. This focus strategy is best for thecompanies that have limited resources to expand internationally, butcan adapt a much aggressive marketing strategy (Fung,2014).This strategy can either be applicable on cost leadership ordifferentiation strategy on a small scale to make the company standout in a specified field of operation.

IntegratedCost Leadership-Differentiation Strategy

Combiningthe cost leadership and the differentiation strategies can yieldbetter result for the MarahLand Park than specializing in one strategy alone. Azhar(2009)points out those organizations that are able to adapt to the twostrategies can as well be able to quickly adapt and gain knowledge ofthe new technologies, since customers would opt to go for qualityservices that are cost effective.

Segmentation- Targeting – Positioning Strategy

Thismarketing strategy is one of the most popular and effective strategythat is used in the common marketing models as of today (Azhar2009).The popularity of this strategy is a new phenomenon considering thatit is customer based rather than product based a strategy that hasbeen adopted by the business world in the near past. It is a powerfulmarketing tool considering that products are made as per thepriorities, being given a personalized and relevant appeal to engagea varied customer base (Azhar2009).Marah Land Park should adopt this strategy as opposed to theircurrent approach of offering standardising their services. This is inconsideration of the fact that most customers today have varied needsand will be more attracted to places where they get customisedservices.

Thesegmentation- targeting- positioning strategy focus on profit taking,prioritizing the business segments as per their market value, andthen coming up with marketing and product positioning for each of thesegments (Azhar2009).Based on the segmentation and positioning of Marah Land, it isimportant to point out that the organization identify with the MIPSapproach identified by Muhlbacher, Dreher, and Gabriel-Ritter (aspointed by Azhar 2009). The adoption of this approach helps theorganization to develop a branding strategy that targets families aswell as complement the various services that it offers. In thisregards, the method may as well allow Marah Land to initiate digitalmarketing approaches such as the use of social media to attractclients and communicate its long term initiatives. The currentstrategy of the company is inherent to its operations thus, there isno need for the company to change the strategy as this would meandecreased contact with clients as well as reduced engagements in B2Bor B2C initiatives. Furthermore, it is essential for the company toblend its existing branding strategy to new forms of pricing andmarketing to ensure continuity in all segments of operations.

Belowis a plan model showing how the STP is vital tool to the modernmarketing, to show how the sales and marketers in the Marah Land Parkcan use the digital communication era to come up with moresignificant modern communication. Following is a short list of thevarious segmentation approaches that can as well be adopted.Babatundeand Adebisi (2012) In Strategic environmental scanning demographics,psychographics, lifestyle, beliefs and values, life stages,geography, behaviour and benefits are all segments that the companyshould positively manipulate and used to attain competitive advantage(Fung2014).

Diagram1:

BrandingStrategy

Brandingis a strategy that is used by a company in projecting an inward lookthat it intends to portray to its customers, in the manner it caresto be viewed at as well as the values upon which its products andservices are built (Hyman et al.2010). The whole point is to evaluate and create an inwardgoal and objective of what the MarahLand Park company is and it’s kind of relationship with itsclients. Currently, Marah Land Park is sold as a family destinationto many people. This type of branding is constricted in the sensethat it is leaving many young people who do not have families and arepotential customers. This ambiguity associated with their brandingshould be reviewed to give it an all round and inclusive appeal.Hyman et al. (2010) observethat some companies are satisfied when their brands are liked bytheir clients and do not actually care about the consistency of theirproduction team, in desiring to make brands that are in line with thecorporate growth strategy. Branding strategy should be shared andconsistence in ensuring that the company achieve an enhanceddecisiveness on brand development.

Forthe Marah Land Park to gainbranding strategy advantage, it needs to identify the gaps within itsorganization and align the various departments throughout thecompany. After doing an in-depth internal analysis on where thechallenges lies, the management within Marah Land Park should startaddressing them on departmental basis, to see the best way to caterfor a much diverse customer base. This is to check how properly thedepartments and the individuals are aligned in their decision-making,interactions and design on being more efficient and more intelligent.

Adiagram showing the branding strategy model:

Diagram2:

Product&amp Service Strategy Productsmade as well as the services rendered by a company, can make thecompany to grow profit wise as well as giving the company competitiveadvantage (Casillasand Martínez 2010).This can be achieved within MarahLand Park bycoming up with the right products and services that are strategicconsidering what the management think the customers need in directproportion to their ability to pay for it (Casillasand Martínez 2010).This should be done considering what the company can manage to comeup within its budget and considering other competitive offerings andstrategies. Considering the needs of the young and middle age adults,provision of quality restaurants, gym, and games facilities should bea priority. The children should be given more play items like themerry go round, horse and boat riding amongst other games. This willgive the company a much family appeal that is all inclusive, thusgiving it competitive advantage. Making the right move forMarah Land Parktowards the right market is the basic to achieving product success,as well as maintaining the market dominance, which in turn translateinto huge profit (Casillasand Martínez 2010).

Pricingstrategy

Pricingstrategy involves the search for the most favourable price for theproduct, putting into consideration the prices of other products inthe market, quality, brand as well as the ability of the customer tobuy them (Nagle and Holden2013). This strategy worksbest alongside other marketing principles that include market demand,product distinctiveness, competition and the economic prototypes(Nagle and Holden, 2013).Pricing strategy is one of the most critical marketing strategiessince it is aimed at generating revenue and profit for theorganization. For the strategy to be effective in as far as MarahLand Park is concerned, there is need to understand the marketconditions to pin point the customers unmet desires as well as themuch they are willing to pay to have the services and products oftheir desire. Consideringthe competition present in the market and the lack of unique orpremium services that Marah Land can provide, it is essential tocultivate the economy pricing strategy. This strategy involvesdeveloping a low-cost strategy to marketing to attract definitivesegments of market as well as keep prices low. In the currentsituation, Marah Land needs to attract many clients to ensure that itcapture a large segment of the market, and it can only do so byinitiating economy pricing approach. Babatunde and Adebisi (2012)have found out that the approach works best in large companies suchas Walmart where lowering prices will not have a negative effect onprofits. In fact, lowering prices attract a large share of consumersto main sites. In addition, Marah Land can decide to introduce newsites of attraction and introduce new prices for such sites toparallel the decreased overall prices of services.

Distribution/ Operational Strategy

TheMarah Land Park management has been working on ensuring theexecutions are geared towards achieving the best business strategiesinstead of being a limiting factor. Langstonand Lauge-Kristensen (2013)point out those organizations need to come up with various ways inwhich they can match their supply chain operations with theirbusiness strategies. This can be achievable if they move towardsassessing their assets, location, people, technologies as well astheir inventory course of actions towards the execution capabilitieswith their strategies.

MarketingCommunications Strategy

Inthe crowded market segment today, having a quality brand is notenough, thus an organization should aim at ensuring that it hascreated enough awareness of its products and display the products inpublic to gain competitive advantage.Livingstone and Helsper (2007)assert that the best marketing strategy is combining the online andoffline communication strategy. The latter requires a solid plan forit to be successful and can be defined even after the strategicmarketing planning. According to Livingstoneand Helsper (2007),it is always important for the Marah Land Park management to assessthe marketing strategy that was used earlier to evaluate on itshortcomings and the strengths. After the obligatory decisiveness onthe perspective of marketing strategy, follows the choice of the mostsuitable means to use. The use of offline marketing channel in thecase of the Marah Land Park might not be enough considering theonline marketing strategy adapted by their competitors. This isconsidering the client base they are targeting and their ability toexpand to gain competitive advantage.

Thecompany should consequently invest in website and email responsecommunication to increase its visibility and create awareness ontheir brand as well as market their products and services. To achievethe fete, Marah Land Park should target capturing the customer leaddata through contact details, web stores and warranties.Additionally, the company’s website should be designed in a way toincrease its clientele interface (Livingstoneand Helsper 2007).From this perspective, the company shall have raised awareness of itscurrent services and products as well as increased its visibilityacross a wider customer base, which it targets.

Livingstoneand Helsper (2007) assert that social media has developed as adynamic and extensive platform through which companies can connectwith clients, offer services and promote customer experience. In thisregards, the company should engage extensively in various socialmedia channels such as Facebook, Google+,Twitter, and YouTube to connect with clients and develop marketingstrategies. These channels provide a chance for a company to provideclients with a decent experience as well as strategize extensively onmarketing approaches. Livingstone and Helsper (2007) contend thatstudies reveal that social media has helped companies to connect withclients and reach clients all over the world. Creating pages inFacebook, Twitter, or Google+willhelp the company to share experience with clients as well as promotegoods and services in a decent and easy manner.

MarketingControl &amp Metrics

Inany business platform it is important to constantly review and adjustthe current marketing strategy to help an organization to get morefrom its marketing metric (Cliquet2013). During the review, it is important to prioritize themetrics from the most important to the least important (Cliquet2013). This is to helpMarah Land Park keep track of the metrics that are importantin ensuring that their marketing strategy is successful and keep theobjective of improving the profitability of the company. Secondly,considering that there exist several metrics that one cannot control,it is important to focus mainly on the ones that can be controlled(Cliquet 2013). The latterinclude the communication tools like monitoring the websiteresponses, blogging and networking. It is advisable to constantlymonitor the results of the chosen metrics and change them to be inline with the projected marketing strategy. Monitoring thepredictability of the metrics is important especially those that aredirectly aligned with the company’s past finances (Cliquet2013). In as far as, the past cannot be fixed the objectivehere should to get the management of the MarahLand Park, to use the data to make future projections based on theknowledge advantage offered by the data. They can use this tool toproject the future attendance of their clients as well as projecttheir sales, as well as know the strategies they need to employ tobetter the future sales. Cliquet(2013) observes that usingthe metrics in the company’s planning process improves themarketing strategies and improves the profit margins.

Conclusion

Inspite of the external and internal challenges within the MarahLand Amusement Park, here is a lot that can be done to improve itsprofitability and the performance in gaining competitive advantage.However, by employing the most effective and efficient marketingstrategic plan the company can remain relevant amidst the stiffcompetition it is facing in its line of business. This can beachieved through proper and effective follow up on the factors listedearlier on in the essay to position it as a preferred destination foroutdoor rides and games among children and young adults in Muscat andgain competitive advantage of the market share in the Qurum NationalPark

Bibliography

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