Number of Words : 3532
Number of References : 12
This report is based on the following requirement -
Use the prescribed book (Marketing Strategy: A Decision-Focused Approach by Orville C. Walker, Jr and John W. Mullins) and the relevant articles as information sources for your assignment. Other sources may also be consulted.
For assignment 2 the focus is on not-for-profit marketing. In this case, you will rely strongly on your research (find out from a few friends what will make them donate money to your cause) and your sense of creativity (as a marketer) to find the sweet spot for the target markets. What will convince them to support your cause above other causes?
Principles of brand management will apply. For the business market segment, you will probably use key accounts management principles to show how you will become part of their business objectives if they support your cause.
Following on to the previous announcement that was posted about assignment 2, please also consider the following:
1. There are many organisations that you will compete against. Just consider the following websites.
www.therhinoorphanage.co.za. To name but a few. You will also get some idea of the marketing communications and marketing programmes that they have to solicit donations and engagement from corporations and private individuals alike.
2. The challenge is to find an alignment between what your organisation are doing to conserve wildlife (you can create your own organisation for this assignment) and the values of the organisations and individuals that you will target with a marketing strategy.
3. One of your student colleagues already interviewed some friends, colleagues and family members to test their sentiment when it comes to donating money to any good cause. From his informal conversations, it was evident that most people that he talked to would rather donate to charities that take care of abused people or some other human cause. This illustrates your challenge - you need to identify and target individuals (market segments if you like) that will associate with your cause.
You will then essentially have a marketing strategy for businesses that you want to target and for individuals (consumers).
In my previous announcement, I wrote that you should create your own organisation for this assignment. What I meant was that you can create your own organisation for the assignment.
You are approached by the general manager of an organisation who solicits donations from the public and the corporate sector for the protection of wildlife. She wants you to develop a marketing strategy for the following very specific segments.
The first segment is business. She realizes that corporate and big businesses are flooded with requests from competing organisations that all want a share of their donation budget. She is not sure whether approaching them will be productive and asks you to look into targeting medium sized business concerns.
The next segment is in the consumer space. Research suggests that there is a growing middleclass in the country, but that they do not necessarily spend money on donations for wildlife preservation. The reasons are not quite clear. Maybe the marketing strategy will need some understanding of this market segment in order to inform it about the kind of communication (the message and media that should be used) that will persuade this market to start donating – and keep on doing so.
The marketing strategy should explain how you will grow and develop contributions from these segments. The idea is that businesses/consumers should not donate once only to get rid of you. The strategy should thus not be a sales pitch, but rather an exercise in relationship building and the creation of mutually beneficial and strategic alliances.
In your assignment, you can decide how to segment the broad market. For instance, you may decide to target a specific industry (such as businesses in the IT industry) and a selected demographic group in the broad consumer segment. Please take care to explain and motivate your segmentation decisions.
The assignment should have a detailed marketing strategy and a financial budget for the implementation/execution of your strategies. Follow the format suggested in prescribed books for the marketing strategy as illustrated in figure 1 (attached) of this module overview. It should also include an implementation plan and program.
Keep in mind the business-to-business and services marketing principles that will apply for this environment. Elements of not-for-profit marketing should also be incorporated.
Your report should be written in such a way that stakeholders would be persuaded to support the cause.
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AKey : M-19527