Business Plan on Global Star
Evaluate 3 marketing opportunities and discuss how these impact the business and its customer base in
general.�
Outline the financial viability of each marketing opportunity. �(A SWOT analysis may assist you to
identify the financial feasibility of each opportunity � this is not compulsory). ��
�
- Provide a brief summary of the estimated resources required to support the operational changes. ��
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Profitability: This is the primary goal of any organization’s operations. It is a measure
that is used to determine how an organization is able to balance between its incomes and
expenses. When an organization sells products it generates an income. For the sold product to
be produced, the organization incurs costs. The difference between the two shows the
profitability.
Public sector marketing: This is seeks to recommend and express solutions that address
the relationships and exchanges that occur between government organizations, groups of
individuals, organizations, communities and individuals, with respect to performance of and
request for public-oriented tasks and services.
Telemarketing: This is a form of marketing where the proponents use the telephone to
solicit for prospective buyers to purchase the products or services on offer. It is the most
interactive marketing medium of all available. Its interactive nature allows the telemarketer to
address concerns raised by prospects, answer their questions and overcome their objectives
Knockout factors: These are exceptional qualities that vigorously contribute to an
achievement. They could also be items of selection criteria use in performing comparative
analysis and eliminate certain options and other considerations.
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Return on investment: This could be defined as the benefit of an investment when
viewed against the cost on investment. It is determined when the net profit is divided by net
worth. The resultant figure shows the performance of the business.
Weighted criteria: This seeks to assign a weight – measure of importance, to a particular
component or factor, which shows the value attached to it. A weighted criterion allows for
evaluation of alternatives and determination of the most appropriate given the specific need to be
added.
2. Research and analyse the attached Business Plan on Global Star to determine their
future marketing needs and opportunities. Provide a brief outline of at least 3 marketing
opportunities you can see as a result of your research.
Global Star Enterprise (GSE) needs to expand its operations beyond the Australian
borders, expand the product portfolio, value add on present products and offer services that add
value to their products – installation of doors sold by GSE. GSE could expand into South East
Asia, develop products that complement the current product line, offer services that complement
current product portfolio and increase market share by more outlets in Australia (Heng, 2008).
3. Outline and rank in order of priority the 3 marketing opportunities in terms of their
overall contribution to the businesses bottom line.
The most important marketing opportunity lies across the border in South East Asia. The
market for GSE products and services is huge and growing. Despite the additional costs of
actualizing this strategy, it should contribute positively and significantly to the bottom line once
the market is established. There also exists marketing opportunities within the already existing
BUSINESS PLAN ON GLOBAL STAR 4
markets by offering services not previously on offer – installation. Finally, GSE could expand
internally by opening more outlets and showrooms across the country.
4. Using the same business plan determine 2 potential new market opportunities for the
business and provide a brief outline of these prospects.
South East Asia offers the best prospect of success among the potential market
opportunities that exist. The South East Asia should not be a hard market to penetrate and serve
given the proximity to Australia. Another potential market opportunity lies in new territories
within Australia boundaries. GSE has not been able to cover the whole country. Opening new
showrooms and outlets will allow GSE bring the products closest to the consumers (Covello, &
Hazelgren, 2006).
- Consider some innovative and creative marketing ideas that you could develop into
potential marketing opportunities.
GSE could consider offering installation services with every purchase of its products, as a
way of introducing its installation services to consumers. GSE could also consider following up
on all customers who have come through its doors and ask for a recommendation. GSE could
also map out all the construction sites and visit them aggressively seeking new business for its
new and existing product line.
6. Identify and research the goals and objectives of the organization as listed in the
business plan. How do the marketing opportunities link to organizational goals and
capabilities?
It is GSE’s goal to expand its market. It has the capacity to meet the additional product
requirement in the new markets. It also offers the marketing team new territories where to seek
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new markets. It is also the goal of GSE to diversify its product portfolio. To this end, GSE is
looking to start producing Awnings in addition to offering additional services – installations
services. This helps GSE diversify its income streams – cushioning the business from traditional
business shocks and ensure the business is able to maintain its growth trajectory (Zaharuddin,
2008).
7. Evaluate 3 marketing opportunities and discuss how these impact the business and its
customer base in general.
Expansion to South East Asia offers a whole new market for GSE products. The
successful entry into the South East Asian market will double if not triple the customer base.
Secondly, expansion within Australia via opening of new showrooms and outlets will see GSE
expand its footprint to more regions in Australia. This should considerably increase the
customer base.
Thirdly, the introduction of new products will bring into GSE customer base a new
demographic group previously not part of its base. This new group will also include previous
customers who did seek complementary services from other vendors given GSE was not offering
(Zaharuddin, 2008).
8. Outline the financial viability of each marketing opportunity. (A SWOT analysis may
assist you to identify the financial feasibility of each opportunity – this is not compulsory).
The south East Asia will offer GSE a dynamic and rapidly expanding market that should
profitable to service. Though the servicing the South East Asia market will require developing
logistics capabilities, it offers GSE opportunity to enter a new market and offer new product
lines. However, the threat of cheap knock-offs competing unfairly in this market.
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The development of the Awnings will allow GSE to exploit the excess capacity already
existing to maximize returns. Though this is a new product – not previously produced by GSE, it
has the potential of opening new markets segments. This however could result in GSE stretching
itself such that the quality associated with its current product portfolio getting compromised.
Finally, offering value addition services – installation, GSE will rely on its developed
reputation for developing quality product and established sales channels to push the new service.
This is at the risk of consumers deciding that they like the separation of services as things were.
Despite this weakness, the service will allow GSE to be a player in market segments that were
previously not addressed while making a strong case against the external and independent
contractors GSE used to do the installation (Covello, & Hazelgren, 2006).
- Provide a brief summary on the probable return on investment and potential
competitors for each marketing opportunity.
The expansion into South East Asia could result in significantly raise GSE product output
while opening new feedback channels. GSE must however be aware of potential completion
from cheap knock-offs from Asia and already existing companies.
The introduction and addition of Awnings into GSE product portfolio opening up a new
income stream for the company. Despite the potential of competition from organizations already
producing the products, given GSE does not invest in new infrastructure to product the product
means the cost will be low, allowing it a competing chance (Heng, 2008). - List at least 3 operational changes you would need to make to ensure viability of these
new marketing opportunities. How would you ensure quality of service to the existing
customer base?
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To meet the requirement of the South East Asian market, the production shifts could
increase – especially when the market has been conquered. With the production of the Awnings,
GSE will have to train employees to produce them. The introduction of the installation services,
GSE will need employee who can perform the installation.
- Provide a brief summary of the estimated resources required to support the operational
changes.
GSE will need to invest in training of personnel to undertake the new services, and to
inform about the existing product and service lines. There will be a need for sales people to be
hired in South East Asia to drive the sales in the new market. GSE will also need to train its
existing staff on production of Awnings and offer installation services.
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References
Covello, J. A & Hazelgren, B. J (2006) Complete Book of Business Plans: Simple Steps to
Writing Powerful Business Plans, Sourcebooks, Inc, Naperville, IL.
Heng, G. M (2008) Conducting Your Impact Analysis for Business Continuity Planning, 2 nd Ed,
Tampines Central, Singapore.
Zaharuddin, H (2008) Business Plan Analysis for Steel Fabricators, Dian Anugerah Prakasa,
West Java, Indonesia.
