Revised Marketing Plan for Qantas

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MASTER OF BUSINESS ADMINISTRATION

AWARDED BY NOTTINGHAM TRENT UNIVERSITY

ASSIGNMENT SUBMISSION FORM

Note: Students must attach this page to the front of the assignment before uploading to WECSERF. For uploading instructions please see the help file online

Name of Student: Abhilash Vijayan
Student Registration Number: SG 229
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Module Name: Contemporary issues in strategic marketing
Module Number: WEC-MBA-10-0506
Assignment Title: Revised marketing plan for Qantas
Submission Due Date: 1st November 2009
Student’s Electronic Signature: Abhilash

Plagiarism is to be treated seriously. Students caught plagiarizing, can be expelled from the programme

Assignment Form MBA Jan04

Executive summary
Table of contents

1. Literature review
According to Alvin J Silk “one of the main aims of business purpose is to create a customer and hence marketing and innovation are two basic entrepreneurial function of any profitable business” (Silk, 2006: 7). Marketing is essential for an organization/company so as to attract and retain the customers. The opinion of Sergio Zyman, former Vice-president of Coca Cola is that, ‘the purpose of marketing is to sell more products to more people more often for more money in order to make more profit’ (Newman, 1999). Marketing is important for the creating and exchanging value with the customers (Silk, 2006:7). The opinion of Philip Kotler and Kevin Lane Keller is that ‘marketing is the most important component of a business for financial success as without the demand for products/services there won’t even be a Finance, Operations, Accounting and other functions.’ The new age companies/organizations have recognized the importance of marketing and hence most of the big fishes in the pond has added a position in their firm named ‘Chief Marketing Officer (CMO)’, similar to the CEO and CFO (Kotler and Keller, 2006). Two main tools to consider, while preparing a marketing plan, are STP and the Marketing mix. 1.1 STP

Evans, Campbell and Stonehouse (2003:124) claim that the modern heart of strategic Marketing is STP. STP is a three stage process of segmentation, targeting and positioning. According to O’Guinn, Allen and Semenik (2008: 221) marketers pursue these step in order to come up with a marketing strategy for their brands. Advertising campaigns are usually built on STP which provides a firm base for success. STP is usually taken in to account in a scenario where customers have heterogeneous needs and wants. In target marketing, the major segments of the market are distinguished and the products and marketing programs are positioned in such a fashion, that it would appeal more to the needs and wants of the chosen target segment (Evans, Campbell and Stonehouse, 2003:124).

1.2.1 Segmentation
The criteria for segments are, the following,
* It should be relatively homogeneous
* It should be identifiable and distinctive
* Easily accessible
* Large enough to be profitable
* measurable
* Actionable etc (STP Market segmentation, n.d.)
The segmentation is done after taking in to account the factors such as demographic profile, psychographic profile, geographic profile, behavioural profile etc. The different segmentation strategies are implied after segmentation such as, Undifferentiated marketing (treating all market as one without segmenting), Focused strategy (targeting a definite segment), Differentiated marketing mix (a different strategy for each segment) etc. 1.2.2 Targeting

The processing of evaluating all market segments and selecting one or more of them to access is termed as targeting. The targeting is done based on the attractiveness of each segment and the degree of competitive advantage.

Source: STP Market segmentation (n.d.)
The benefits of targeting are immense. A few of them include, ability to focus resources on better segments, help...
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