1.For each of one of the three the marketing opportunities that you have identified as being most viable, develop a report (in the template provided by your assessor) that addresses:
· Alignment with the business’ objectives and goals as described in the Marketing Plan
· Target customers:describe them and identify whether they are new or existing customers
· Overall benefits to the business of pursuing the opportunity
· The anticipated effect of the marketing opportunity on sales, profitability, growth and market share. A cost-benefit analysis or existing data in the Marketing Plan could be used to help estimate this.
· Additional resources that will be required, for example, additional funds, staff or equipment including finances, staff, equipment
· Estimated effect on return on investment. This should be an approximate estimate taking into account how much the likely cost of the opportunity would be against anticipated return. Use the information in the Marketing Plan to help you answer this.
· Potential competitors: these may be existing competitors or new ones depending on the marketing opportunity pursued
· How many changes in economic conditions could impact on each marketing opportunity
· Technological factors that may affect the marketing opportunities identified
· Legal issues associated with each marketing opportunity, including legislation, regulations, standards, and codes that apply
· Risks associated with each marketing opportunity. A risk assessment must be completed for each opportunity.
Rank each of the marketing opportunities that you have identified from the most viable to least viable in terms of the potential contribution of each opportunity to business growth. Provide reasons for your rankings.
Evaluate and report on required changes to business operations in the event of the opportunity being pursued.Include the following:
· What organizational changes would need to be made to current operations in order to take advantage of the opportunities identified?
· Outline of additional resources that will be required for each of the viable marketing opportunities. For example, if additional staff is needed, how many or, if there are additional costs, what are they and what is the amoun.t
· Recommended strategies to ensure that the quality of service to existing customers is not affected by changes made as a result of implementing new marketing opportunities.
Use the Marketing Opportunities Report Template to guide your work.
The report should be approximately 3 to 4 pages long.
You may use charts, tables or graphs to illustrate data if desired.
1.Identified marketing opportunities alignment with the business’ objectives and goals objectives and goals as described in the Marketing Plan
For each marketing opportunity, discuss alignment with the business objectives
1. Social Media:Social media is a great opportunity for Tesla for marketing their products. Tesla could post frequently about their products and allow the customers to know more about the product.
Business objective:Tesla use social increase brand awareness and create loyalty among the customers.
2. Put a face to the name:Tesla could give the main person of it more recognition as he creates hype about the new cars and gears sales of the company.
The CEO of Tesla could create hype about their new products and all aspects of the company.
Business objective: Tesla’s CEO personal communication will l build trust and make consumers feel more comfortable with your brand.
3. Inspire the wider discussion:Support and promote the environmental movement and test drive movement.
Business objective: Tesla's main business objectives is to make an eco-friendly car. Through the wider discussion, they have the potential to create a well-rounded package consumer will be eager to get behind.
Who are the target customers for each of the marketing opportunity? Are the same customers or new customers? Describe their characteristics.
The target customers for the market opportunities are:
For the first opportunity, the target customers are the young generation who are in the market for entry-level luxury cars and tech-savvy customers.
For the second opportunity, the target customers are the persons who follow the person behind the objectives and make the customer more comfortable.
For the third opportunity, the customer who is very much eco-friendly and wants to save the environment from pollution. They will be eager to get behind the brand.
3.Overall benefits to the business of pursuing the opportunity
Clearly outline the benefits to the business of each marketing opportunity
Benefits of the opportunities
· The sales will increase
· Customer will know more about the products
· Promotion of the products
· Freeway of connecting to the customers
· Build trust
· Make consumers more comfortable
4.The anticipated effect of the marketing opportunity on sales, profitability, growth and market share
Outline the anticipated effect for each marketing opportunity identified for sales, profitability, growth and market share. Use existing data in the Marketing Plan to calculate this.
The anticipated effect of these marketing opportunities
Sales: Theses opportunities will increase sales
Profitability: These market opportunities will up the profitability of Tesla
Growth: By gaining these opportunities the growth of the company will be huge.
Discuss how technological factors could impact each of the marketing opportunities.
If the technological advancement takes place the marketing opportunity will be very much successful.
Legal issues associated with each marketing opportunity
Are there any legal issues associated with any of the marketing opportunities? If so, discuss.
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