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Marketing plan of Deloitte Malaysia (2012-2015)
Part 1 – Executive summary and mission statement
1.1 Writing a marketing plan.
My marketing plan will be focusing on the research of the marketing strategies as well as their tactical plan in the business practice in the Malaysia market sector.
1.2 Executive summary.
This study consists of four major parts: (a) a comprehensive situational analysis which is made up of both internal and external environment analysis using various market analytical tools such as 4P’s and Porter’s five forces; (b) critical analysis of the company’s strategic and marketing position using SWOT analysis; (c) setting the business objectives and marketing objectives to be full-filled by the company in the period between 2012 to 2015 financial years; (d) Analyze the resources and evaluation mechanism to ensure the viability of the marketing plan
1.3 Mission statement – the business’ values and beliefs.
DTTL and each DTTL member firm are to secure the provision of professional services in its territory through subsidiaries, affiliates, and/or other entities, the vision is unchanging: We aspire to be the Standard of Excellence, the first choice of the most sought-after clients and talent. The shared values are timeless. They succinctly describe the core principles that distinguish the Deloitte culture.
Part 2 – The current situation analysis – the internal landscape.
2.1 Product or Service.
Throughout the world collaborate the company is to provide audit, consulting, financial advisory, risk management, and tax services to selected clients.
The audit, consulting, financial advisory, risk management, and tax services provided by Deloitte is perceived as professional, world class and premium and there is an increasing demand for the company’s service.
Deloitte uses a mixture of print ads, radio advertising, internet advertising, public relations and direct marketing to market its services.
The company has over 1,300 staff and partners across 8 offices in Malaysia of offer depth, experience and solutions that the clients need to make decisive moves.
The company’s Code of Ethics and Professional Conduct lays the foundation for good business decisions and guides the people of Deloitte Malaysia in conducting business honorably, ethically and with utmost professionalism.
2.7 Physical evidence.
The company holds a number of programs to market its business. For example, the Deloitte International Student Business Forum 2012 though interacting with top students from around the world, developing critical leadership skills and working as part of a team to solve a complex business case offer an excellent chance to market the company’s image.
Part 3 – The current situation analysis – the external landscape.
3.1 Market overview.
With more and more MNCs choose to locate their headquarters in Malaysia; the management consultancy and accounting industries of Malaysia are growing steadily.
3.2 Competitor analysis.
Over the years, Deloitte has consistently closed the gap and widened the lead among its major competitors. In fact, over the last several years, Deloitte was the fastest-growing private professional services organization based on total revenue among the Big Four. But it still faces strong challenges from the three of the other Big Four companies.
Part 4 – SWOT analysis.
Market share leadership
Strong management team
Strong brand equity
Diseconomies to scale
Over leveraged financial position
Low market share
No online presence
Financial markets (raise money through debt, etc)
Emerging markets and expansion abroad
Product and services expansion
External changes (government, politics, taxes, etc)
Exchange rate fluctuations
Lower cost competitors or imports
Maturing categories, products, or services
Part 5 – Objectives – the internal landscape.
5.1 Overall strategy.
With over 230 partners and 5,300 professionals in 22 office locations, the subsidiaries and affiliates of Deloitte Southeast Asia Ltd combine their technical expertise and deep industry knowledge to deliver consistent high quality services to companies in the country where the economy is booming, therefore its overall strategy is to provide premium accounting, auditing, tax and management consultancy services to the clients.
5.2 Product or service.
Its major long term product strategy is to take into account of the special company needs, in particular the local companies’ needs such as the requirement of the Islamic laws and conventions, and lead the product innovation in the industry.
With a focus on the high quality of services and the market competition, the company will turn to a market oriented pricing which involves setting a price based upon analysis and research compiled from the target market. This means that marketers will set prices depending on the results from the research.
Direct contact and sale is encouraged while the role of the specialists’ intermediaries is reduced largely to reduce the costs.
Advertising would still dominate the major part of the promotion mix while the usage of the direct mail will be reduced and internet marketing and also public relations which involves developing positive relationships with the organization media public will be strengthened with the increasing usage of PCs and e-commerce.
More global talents would be recruited strategically to strengthen the core competitiveness of the company’s business.
The company’s Code of Ethics and Professional Conduct should ensure the company and staffs’ conducting business honorably, ethically and with utmost professionalism with respect to the national laws and local business culture.
5.8 Physical evidence.
A landmark could be necessary in the business and financial center of the capital the exhibit the company’s image.
Part 6 – Resources and evaluation.
|Campus recruitment||June 20xx||Sponsorship|
|Capital (in cash)||Sep 20xx||Bank loan|
|New headquarter||Jan 20xx||Company profit|
– Through yearly review of the targets
– Progressive targets to be hit
– Evaluation of the employee performance
– Evaluation of the management performance
– Evaluation of the leadership effectiveness