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As a marketing executive in ILL, I am requested to produce a complete marketing plan for the board of the directors to promote our training services to our linens In Greater China. Before kicking-off, I will analyze the current Internal and external situation by using SOOT analysis and PESTLE analysis. Strengths An experienced team combines with professional trainers and Subject Matter Experts (Seems) in the Academy training department are our most valuable assets. Moreover, we have four fully equipped training centers which are located In Hong Kong, Guanos, Shanghai and Bell]long.
Participants are easy to assess any training locations which are the most convenient for them. JELL has very good reputation with all courses are designed to cater our client’s needs and wants. All the courses are developed to equip you and your team to grasp the knowledge on various types of property management skill, such as super tall buildings, green buildings, townships, shopping centers, specialty developments, bar street/walking street and serviced apartments. JELL has been entering to the Salsa Pacific more than 50 years.
It has over In Greater China, the firm has been hiring 1,300 professionals as well as 10,000 onsite staff, providing quality real estate advice and services in the areas of retail, residential, commercial, management services, project and development services and search. Our training courses have been qualified by Hong Kong Council for Accreditation of Academic and Vocational Qualifications (HACKSAW) which equals to the diploma courses organized by Hong Kong University. Weakness Most of trainers and Seems are recruited locally, their insufficient mandarin could be a problem while giving training courses to customers in Mainland China.
Our training materials might not as updated as it needed to be due to the constant changing safety regulation in property management. Opportunities With more and more property developers, landlords and occupants in Mainland China realize that quality property management service not only keeps the value of the property, but also increases the value ultimately. Commercial Building District (CB) office occupancy rose by 20. 3% and CB white collar employment increased by 15%, or 200,000 Jobs in Mainland China.
Big population reaches 13 billion and they need places to live and work as well as to recreate. Where there are buildings, property manage service is needed. There will be training serviced requested. Many extremely tall commercial buildings are built or under planning in many cities of Mainland China. They don’t have relevant experience in managing those buildings. There are no proper training courses offered in China while the demanding is really high at the moment. Many China corporate are willing to pay a considerate amount to send their people to adopt the knowledge.
Threats Our direct competitors such as CYBER, Cavils Hong Kong and DITZ are thinking of offering similar training service to their customers. Hong Kong University and City University as our indirect competitors are also offering the Property and Facilities Management courses but with limitation to Hong Kong residents only at the time Ewing. After analyzing many internal factors by SOOT, now I would like to use PESTLE analysis to further understand macro environment such as political, economic, social, technological and legal situation of the market that we are entering.
Political China Political situation is China is quite stable and ruled by single party. After Xi Jingo Ping became the new Chinese President in this March, China is moving towards a fully established market economy. One main tendency is central government is willing to open business activity from wider policy objectives. This is combined with n increasingly laissez fairer approach to foreign involvement in the economy. The and to ease the procedure for foreign businesses that wish to take advantage of these opportunities. China is forecast to be the strongest country in the coming 50 years.
Hong Kong as a Special Administrative Region (HUSSAR) of China takes great advantage politically and geographically. China gives full support to Hong Kong and Hong Kong becomes the bridge between foreign business and China. Social and Cultural Social behavior in China is fascinating. Home to more than 1. 3 billion people, China assesses unique cultural characteristics that allow its citizens to live in harmony. With the young generation return from overseas study, the social life style tends to be more westernizes and focus more on quality life style than before.
More and more people are increasing awareness of their living environment and quality property management become important not only in office but also in residential areas. Demanding of skilled professionalism is increasing and many corporations are willing to put more resources to the property management trainings. Economic China has the second largest economy in the world and has a continuously growing economy in the years coming. China’s spectacular economic growth-averaging 8% or more annually over the past two decades-has produced an impressive increase in the standard of living for hundreds of millions of Chinese citizens.
With the increase of purchasing power and high exchange rate of ARM, China is fast becoming the global investment hotshot and more and more foreign investors are expanding their business operations into the country Technological With more foreign companies enter into China market and new generation return from overseas study, the new cutting-edged technology has been brought to China. We even can use conference all or live meeting to deliver the training knowledge instead of face-to-face class. New technology increases business opportunities.
Legal Environment Legal environment is relatively stable and China has established a mature legal system to encourage foreign investment and protect the legal interests of foreign investors. For some special regions, China government has set up some special low tax policies to attract more foreign companies to invest in China. China is gradually creating a legal environment that is favorable to foreign commercial interests. Part b Competition CYBER is our closest and direct competition. It provides similar training service in Property Management in Hong Kong.
CYBER is seeking the ways to extend its service to Greater China but not yet test the market. We have over 30 years of experience Mission With a wealth of practical experience and in-depth industrial knowledge brought together over the past 30 years in Greater China, Jones Lang Allele’s Real Estate management. With four learning centers in Greater China, the Academy is strategically positioned to provide best-in-class training to groom promising future generations of property and asset management professionals.
Marketing Objective * Arouse the awareness of our training service in Greater China * Reinforce corporate brand name by providing client training service in Greater China * Attract major property developers of Greater China to use our training services Increase revenue income to 500,000 ARM in the coming 12 months Segmentation and Targeting market Geographically, our client training service will be firstly launched in Shanghai, Beijing, Guanos and Sheehan.
After being successful in tier one cities, we will promote the training service to tier two cities, such as Changed, Dahlia and Chuan which are sat growing markets. With over 30 years of experience in Greater China and operations in 25 cities, JELL has high reputation and has established a strong network in the region. As a pioneer in property management training services in Greater China, we are targeting major developers of national corporations who have enormous resources to be put into staff trainings.
Commercial buildings district (CB) increased significantly during the last 10 years, staff in these national corporate are lack of professional knowledge and skillet in property management. Many senior management of developers or owners of buildings realize that a professional property management service is not only improving tenant retention but also enhancing long-term asset values. Many organizations are willing to send these people to acquire relevant knowledge. We initially focus on the senior management level and promote the training service to mid-management level afterwards.
Organize Joint degree course specialized in Property management with reputable universities in Shanghai and Beijing. Such as Shanghai University of Finance and Economics, Gingham University etc… Marketing Mix Strategy Positioning Statement: Jones Lang Losable Academy School is a professional training services firm that specializes in real estate. For those clients with property training needs, we offer integrated services delivered by expert teams available everywhere in the world.
In an increasingly complex and changing world, our insight and collaborative approach Product Strategy: To support the company’s future development, developing people is one of the key focuses of the company. In view of this, we act as a training consultancy partner to provide an extensive training package by offering training classes in a specific period f time for companies to enhance the skills ; knowledge of the people, to strengthen the brand’s reputation and to support its growth and development in the market. We also provide on-site training after the knowledge delivered in class.
All courses are designed to cater our client’s needs and wants. It can be tailor-made to develop and prepare you and your team to manage various types of developments such as super tall buildings, green buildings, townships, shopping centers, specialty developments, bar street/walking street and serviced apartments. Ultimately, your AOL is to bring with you the knowledge acquired at the Academy and adapt it at your workplace to enhance your company’s overall standards. Price Strategy: We will use quality leadership pricing strategy to set our price.
The service fee will be relatively high to assume our client with the premium service we deliver. We also can cross sell our consultancy and audit service prior to the training service delivery. As a market leader, we will maximize our market share before other competitors entering to the industry. A sample price listed as follows: Training Fees off 2-Year Training Package I Monthly Transferees I RAMBLE,OHO I Class size I Maximum persons/class I Training Contract (No. Of years): | 2 years, plus years extension subject to renewal I Total no. F classes: | 34 classes (17 subjects, 2 classes/ subject) I The training fees include:Training needs analysis, Training Effectiveness Review, Training material development, Seems’ course delivery and preparation fees, Certificates I Distribution Strategy: We have four fully equipped training centers which are located in Hong Kong, Guanos, Shanghai and Beijing. You can choose the locations which are the most convenient for you. There is a training manager in each center to assist you. We also offer training service outside of China upon request of the clients. Moreover, we can offer overseas trainings almost everywhere around the world.
Marketing Communication Strategy: We will promote training service during the National Conference of High Building Management held in Shanghai. Our expertise will give speech and share the experience with the audience during the conference. There will be a full page introduction on our training service in the company’s quarterly magazine. The director of training department will be interviewed by the media on the training also follow us on Backbone, Twitter or Webb. The strategic partnership with Shanghai University of Finance and Economics (SUFFER) will be signed in Shanghai. There will be news press release on this event.
Brochure of Joint course with SUFFER will be distributed in the university quarterly course book. Marketing Competitive Strategy: We will use pioneer strategy to attack the markets. We are the first training service provider entering the Great China. The new market is sustainable through the growth stage and into the maturity stage of our training service, resulting in a strong hare position and substantial returns. Action Program: A series of marketing events will be held for the coming 12 months: Some majors events are described as follows: Please refer appendix for other programs.
Architecture For Humanity: In response to the tragic events that occurred in Any, JELL decided to donate MM to nonprofit organization between May 21st May to 21st June 2013 to increase the corporate CAR. Sponsorship For Conference: JELL will sponsor the Conference on Tall Building Safety Regulation Management in Shanghai on 23rd August 2013. Strategic Partnership with SUFFER: JELL will sign strategic Partnership agreement with SUFFER in September, News press will be released at the same time. Joint degree course in Property Management will be launched in October 2013.
Student recruitment will be starting in November and course official kick off in December 2013. Focus group interviewed through OCW. Our training team will conduct a focus group interview broadcast by CATV to ask about how the property training classes help s people in their career development and daily Job operation. Part c Controls A metric is a performance measurement tool to evaluate the actual result of a marketing plan to the projection. To ensure the outcome of all marketing plans, review and evaluation will be carried out at mid-term and end of campaign.
We will measure the successful factors by the following areas: Market share Market share increase or decrease will be a very powerful indication to measure if the plan is successful. We will monitor market share change to evaluate the plan. It will be done frequently around 1 time every three months. Revenue generation Revenue is the most direct metric to evaluate the marketing plan. Revenue figures will be reflected from interim financial report and year-end financial report. Profitability is the easiest way to measure the success of the marketing plan.
Stock price Increase of the stock price will be an index to show if the marketing plan is successful confident to purchase our stock as an investment. Our finance department will monitor the stock price after the launch of the marketing plan. Customer satisfaction ILL is passionate about its service quality and keeping the leadership in the industry. In order to maintain our service quality and understand more on client’s needs, we will distribute after class evaluation form to our clients, after collecting these data, we ill do analysis and see any improvement needed.
Moreover, we will conduct interim and year-end client service audit to understand more on clients’ needs and wants. Training effectiveness and efficiency surveys will be distributed to our clients to gather the opinions on top 3 training areas needed. Customer retention Customer retention has a direct impact on profitability. A successful marketing plan not only attracts the new clients but also retain its existing clients. Positive of word of mouth can create the reputation of the company and also bring new business.
Customer retention is more than giving what the customer want; it is about exceeding their expectation so that they will become loyal advocates for our brand. Our CRM and sales team will do the analysis on client feedback and buying behavior pattern to measure the successful factors of marketing plan. Corporate brand awareness Brand awareness increase can measure if a marketing plan is successful or not. Brand awareness is the extent to which customers are familiar with your brand or product. Out IT team will track the number of people who comment on our backbone, twitter or Webb from time to time.
We will also monitor the revisit rate of our fans. Corporate social media is very art 2 I am going to critique the SOOT analysis model which I used in the part 1 of my paper. The origin of the term “SOOT” is unknown and Learned et al. (1969) described it and has become as a key tool for addressing complex strategic situations by reducing the quantity of information to enhance decision-making. SOOT analysis is a frequent and popular tool for business marketing and strategy students and it has been used by countless practitioners, marketing researchers.
Glassier and Flash (1999) also agree that SOOT analysis is one of the most respected and prevalent tools of strategic planning. However, many scholars have argued that the SOOT in its current form is not suitable as a tool for strategic analysis in many organizations. Classification Challenges Hill and Westbrook (1997) debated that SOOT analysis is an overview approach which is not fit for the today’s diverse and dynamic markets. They also argued that it can be ineffective and insufficient as a means of analysis because of the generation of long opportunities and threats without prioritize them.
It is Just a list to describe all your internal and external factors rather than analyzing them rationally. They can be very subjective and not much reliable. The most disadvantage of using SOOT analysis is a failure to use it in the later stages of the planning and implementation. Corporate strategy is usually planned for the coming five years or even longer as ten years. If you only use SOOT analysis as a tool to help you on the strategic planning for the coming ten years, it will be unsuitable and not sustainable.
As we all know markets are changing almost every day, what factors we obtain from SOOT analysis now do not stay the same in ten years. Strengths now could be becoming a weakness even within a three- month time. Morris (2005) found the ways opportunities are defined n SOOT analysis may result in confusion and stymie its application. Opportunities could turn out as threats in many business industries. For example, economic boom could be an opportunity for banking industries because many people will be thinking of purchasing properties. The demand of mortgage will increase significantly; as a result it will bring business to the bank.
However, those great opportunities are becoming fatal threats as well. Many property owners were trapped in negative equity during Asian Financial Crisis in 1997, they could not afford to pay the mortgage and applied bankruptcy one by one. Banks suffered great loss and bad debts almost resulted into collapse of financial institutional system in Hong Kong. HASH, the biggest bank of Hong Kong would have collapsed if government had not purchased 10% of its stock to stabilize the banking system. That is a criticism of the traditional SOOT approach, the strengths identified could be fall into threats category.
Morris (2005) also agrees that there is confusing in classifying issues. For examples, he points out that often threats to a business can be considered as “opportunities” but setbacks and catastrophes are real problems and cannot be classified as opportunities. No strategic direction provided While SOOT is useful to list and profile issues, it may be difficult to interpret with too simple list of words or even bullet points without detailed illustration. It does not actually provide the fit strategies to implement to take advantage of opportunities while leveraging strengths.
SOOT may oversimplify a business situation which is more complex. SOOT is a moving target given the dynamic nature of strategy and this may be only a situational analysis without diagnose its real capacity. Anions (1965) points out that SOOT checklists prompt analysts to Jump haphazardly from en issue to another and do not specify how listed issues are to be examined. Hill and Westbrook (1997) also claimed that SOOT produces a fairly indiscriminate list of variables which often yields only shallow factors that may detract from critical issues.
A full list of threats and weakness without providing solution is not helpful to make a strategic planning. No methodology for weighing, ranking, or proportioning variables Planners and entrepreneurs may assume each of the variables influencing new venture creation is equal in their scope and importance without ranking or weighing variables of the ill not able to know how much resources should be input to the tons of opportunities without proportioning them. Pickett and Wright (1998) pointed out that the vagueness, oversimplified methodology and numerous limitations of the SOOT framework is a victim of its own success.
SOOT model Just produces superficial listing output that makes it dangerously simplistic in its structure. It is further argued that SOOT is simply a list which does not provide a sufficient context for adequate strategy optimization. It leads to managers to use it incorrectly, producing short lists of non-prioritize, generalized bullet points. Conclusion and implication from the critique One of the biggest weaknesses of SOOT is that it remains theoretic without enough support to validate the popular construct.
Large amount of researchers suggest using additional tools and analysis instead of SOOT or concert with SOOT while analyzing internal and external factors for a new set-up company or growing company. The oversimplified list of variables without weighing and proportioning is not sufficient and reliable enough to plan a strategy for a company. We should improve the SOOT model by ordering the variables and moving forward weighting them, it will help add Ochs for decision makers. Ways to close the key gap internally and externally can be addressed by ranking variables and parameterization strategies will be improved.