ABDT5114 Product Management Tutorial 3 Answer June 4, 2011
Marketing plan is needed to:a.
Analysis the current business situation.b.
Identify threat and opportunity facing by the business.c.
Establish objective and design strategy and program necessary.d.
Assign responsibility of various personnel for achieving product objective and set timeline.e.
Encourage careful and disciplined thinking to formulate a backup plan.f.
As a guideline to evaluate performance.It can be best used to maintain focus while allowing flexibility needed to thrive in a dynamic environment.
lexibility becomes more important because changing in the external environment rapidly. Thesechanges include customer, competitors, macro environment, PLS become shorter and customer complexity.Customersbehaviors are very dynamic and changing very fast. The obvious one is the
.More and more consumer had shifted their diet preference to more healthy way, and this give tone of opportunity to health food industry and medicine sectors. This change also link closely with consumers
. They move toward healthier lifestyle. As a result, this change consumers
, theyspend less in fast food and spend more in healthier food. This had given deep impact to fastfood industry asits perceived as unhealthy food in consumers
.In this ultra-dynamic marketing,
are too aggressive. Every company should beready in every second. Be ready to crab the opportunity, be ready to make change necessary, be ready tostrike back, be ready to face
, as well as be ready to quit the industry when no choice left.In order to achieve this, we need lots and lots of flexibility to make changes fast. Besides looking oncompetitors, company also need to focus closely on macro environment such as
changes.Another core factor that drives flexibility is the
product life cycle had become shorter
in recent year.This happen is because of the
intensive of competition
. New products are introduced by competitors rapidlyto gain market share, and
or new model in the same products line introduced tosubstitute the current product.
or example, when Apple new launches its iPhone4, its substitute iPhone3,and grab iPhone3 market share.Last but not least, company does not address 1 customer, but many customers at the same time,this make company hard to deal with every 1 perfectly.
Customer becomes complex
and hard to understand,their
education level is higher
information is free
nowadays, as a result customers have
ever.In order to plan for flexibility, company must be come out with contingency planning through theprocess, conduct periodic review on the process, once thing go wrong, change to contingency planimmediately.