Akira Marketing Plan Assignment

Akira Marketing Plan Assignment Words: 458

?Executive Summary TT International Limited, a Singapore firm which was listed on the Main Board of Singapore Exchange in June 2000, deals in three core businesses namely; trading and distribution of electrical and electronics products, assembly and marketing of its own house brand ??? Akira, and providing third party warehousing and logistic services. This report serves as a strategic audit on Akira due to its significant contribution to the company’s turnover in consumer electronics sector and its high growth potential.

An overview of the current performance of TT International and its corporate governance are first presented prior to conducting a detailed analysis on the external and internal environments which Akira operates in. Akira is exposed to many opportunities such as new and growing markets, positive economic outlook of Asia and the positive effects of the changing demographics on certain Akira’s products etc. In addition, Akira is exposed to threats from its competitors, an increase in oil prices and demographic changes etc.

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The internal environment analysis revealed that Akira possesses strengths like a promising house brand, being financially sound, having a well-established distribution network, possessing pioneering spirit and has a loyal customer base. However, Akira is weak in its human resources management, being inactive in R&D and a lack of emphasis in brand image. After the SWOT analysis, objectives are formulated and a TOWS matrix is constructed to generate alternative strategies for the next five years on three levels- business, corporate and functional.

Among the many proposed strategies, the following were recommended. Business Strategies (Cost Leadership) Should continue adopting cost leadership strategy to upkeep Akira’s brand image as a value-for-money brand. Corporate Strategies (Concentration ??? Vertical Growth) Should engage in forward integration through opening more retail outlets to increase visibility and awareness of Akira. Corporate Strategies (Concentration ??? Horizontal Growth) Should extend its product lines to meet the changing consumer needs and to further globalise the brand.

Corporate Strategies (Diversification ??? Concentric Diversification) Should diversify into the Business to Business market. Functional Strategies (Marketing Strategy) Should increase brand awareness of Akira through integrated marketing communication and marketing mix. Functional Strategies (Research and Development Strategy) Should seek continuous improvement in product quality in its OEM factories in China to remain technologically competitive. Functional Strategies (Purchasing Strategy)

Should continue working with existing suppliers for sourcing of new products such as gym equipments. Functional Strategies (Human Resource Management Strategy) Should implement various HRM strategies to recognise talents, retain staff and boost staff morale etc. After recommendation of strategies, a series of well-defined activities to be executed by respective personnel within a specific period of time and the budget for implementation of the strategies are established. Lastly, various ways of evaluating and controlling the strategies are proposed.

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Akira Marketing Plan Assignment. (2020, Aug 28). Retrieved January 19, 2021, from https://anyassignment.com/art/akira-marketing-plan-assignment-30550/