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Project Management in Marketing Final Report

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A passed report from Chartered Institute of Marketing, I prepared it for Project Management in Marketing_Course

A passed report from Chartered Institute of Marketing, I prepared it for Project Management in Marketing_Course

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  • 1. PRODUCT MANAGEMENT ( VIDEO CONFERENCE) Personal Statement: ‘I confirm that in forwarding this assessment for marking, I understand and have applied the CIM policies relating to word count, plagiarism and collusion for all tasks. This assignment/project is the result of my own independent work/investigation except where otherwise stated. Other sources are acknowledged in the body of the text and/or a bibliography is appended. The work that I have submitted has not previously been accepted in substance for any other award and is not concurrently submitted in candidature for any other award.’CIM Membership No. Total Word Count: 8, 175 June 201111860681 543- Project Management in Marketing
  • 2. 543 - Project Management in Marketing Membership No. 11860681 TABLE OF CONTENTS PageEXECUTIVE SUMMARY ...................................................................................... 1Product Management (Task Two) ......................................................................... 2 2.1 Critically analysis of findings from the audit ......................................... 2 2.2 Recommendations on improving Product performance ....................... 7 2.3 Critical Assessment of the organization resources ............................ 18 2.4 Project Plan ....................................................................................... 20 2.5 Critical Assessment of the sources of risk from internal and external perspectives and its’ mitigation ................................................................ 33 2.6 Evaluation of the Operational Implications to the organization if recomendations are not implemented ...................................................... 37REFERENCES ................................................................................................... 38APPENDIX I ........................................................................................................ 39Brief Background of the Organization ................................................................. 39APPENDIX II ....................................................................................................... 41Marketing Audit (Task One) ................................................................................ 41 1.1 Audit of the organization’s approaches to portfolio management ...... 41 1.2 Assessment – how organization can improve the performance of the chosen product in the context of its overall portfolio................................. 44 1.3 : Key issues identification .................................................................. 46APPENDIX III ...................................................................................................... 47Personal Statement ............................................................................................ 47APPENDIX IV ..................................................................................................... 48InfoComm exhibition booking form – sample ...................................................... 48TEAM 220 vs. HDX 700 price & technical comparison - sample ........................ 49TEAM 220 vs. C40 price & technical comparison - Sample ................................ 50 ii
  • 3. 543 - Project Management in Marketing Membership No. 11860681 EXECUTIVE SUMMARYThis report has been prepared to find out issues causing low performance ofTEAM 220 video conference system in the fast growing UAE collaborationsystems market. With the rapid developments in the collaboration technologies,businesses are more likely to adopt solutions which provide the flexibility ofconnectivity, best in class performance and competitive cost of ownership.The researcher has collected data about past, present & future market trends ofvideo conference systems through primary and secondary data collectionsources. The information has been analysed and used as a base for developingrecommendations for the improvement in the product performance.TEAM 220 was introduced in UAE during 2009. The product has excellentfeatures and a competitive price but its performance has not been satisfactorydue to certain marketing related factorsThe proposed recommendations provide and understating of the current externaland internal situation as well as it provides guidelines for developing a plan toachieve desired objectives.A project has been planned to launch a penetration based marketing strategy forincreasing the market share of the product by 5% during next 12 months. Projectimplementation plan has also been developed including financial budgetfollowing set industry standards of project management and evaluated onrigorous evaluation methods of marketing project management.Internal and external sources of risks identified, analysed and mitigation tactics ofsuch risks have been proposed. Risk management plan and implementation hasalso been developed and evaluated.Organizational resources have also been evaluated and recommendations havebeen given for utilizing the resources for performance improvement of theproduct.Operational implications of not implementing the project as per proposedschedule have also been highlighted for management review and approval. 1
  • 4. 543 - Project Management in Marketing Membership No. 11860681Product Management (Task Two) 2.1 Critically analysis of findings from the auditAccording to InfoComm International statistics, Middle East and Africa’s (MEA)audiovisual market is expected to grow at 13% annually to reach $ 3.15 billionby 2013 from $ 1.4 billion in 2008. Current market of MEA is estimated $ 2.25billion by InfoComm experts. Middle East Africa AV Market 350 Annual Growth in $Millions 300 314 250 262 224 200 190 150 162 140 100 50 0 2008 2009 2010 2011 2012 2013 YearsFigure 1The largest country by market share is Saudi Arabia with 40% share, followed byQatar with 20% and UAE with 17% market share. Further has been explained inthe below country wise market share chart of Pro AV systems in Middle East &Africa. 2
  • 5. 543 - Project Management in Marketing Membership No. 11860681 County wise Market Share of AV Saudi Arabia , 120 106.4 100 80 60 Qatar , 53.2 Others, 61.18 40 UAE, 45.22 Saudi Arabia , 20 40% 0 Qatar , 20% UAE, 17% Others, 23% Saudi Arabia Qatar UAE OthersFigure 2UAE audiovisual market is estimated to be US $ 45 Million by year 2011. Its’growing with an average rate of 13% annually since 2008. UAE Audiovisual Market 20 38% 15 25% 10 22% Market Share % 17.1836 15% 5 11.305 9.9484 6.783 Financial Value of current 0 Market Vido Control Projection Other AV Conference Systems Systems systems SystemsFigure 3Video Conference Market in UAE:As shown in the above table, UAE Video conference market is estimated asUSD. 17.18 Millions. The market is divided into 4 sections of AudiovisualSystems; Video conference systems have majority share of 38% in the overallsystems. 3
  • 6. 543 - Project Management in Marketing Membership No. 11860681 HD VC Systems Market 25% HDX 7000 C40 53% Team 220 16% Other(products & softwares) 6%Figure 4As shown in the above table, Video conference market is dominated by Polycomand others ( other products &Software based services (WEbex, gotomeetings,etc) TEAM 220 has so only 8% of the market share but there is a big marketwhich can be exploited by using proper marketing strategies.The internal audit proves that TEAM 220 has some latest features which are notbeen conveyed to the target audience. Below table is elaborates the mostconcerned part of the buying decision making factor which are price andperformance.Price has been considered as an important buying decision making vehicle forfollowed by performance. The below figures prove this with reference to detailedcomparison in the attached Audit, this relates to affordable overall cost ofownership.On the technical side we conducted to detailed financial & technical comparisontable in the attached Audit. TEAM 220 has higher rating of features compared itscompeting products.Technical comparison by RADAR chart method 4
  • 7. 543 - Project Management in Marketing Membership No. 11860681 Competetive Analysis Price 5 4 Bandwidth 3 Product Quality Efficiency 2 1 Team 220 0 HDX 7000 C 40 HD Support Performance Score : Team 220 : 23.5 HDX 7000 : 17 Userfriendly C 40 : 17.5Figure 5Above figure shows some of the unique features which products carries, thesefeatures include;Findings of the Analysis: Excellent Performance compared to competing products Best price than the compeering product of same quality Full HD support which is unbeatable till yet by competing products. Bandwidth efficiency has far higher than competing products. 5
  • 8. 543 - Project Management in Marketing Membership No. 11860681 Price comparison chart Team 220 HDX 7000 C 40 $30,000.00 $26,900.00 $25,000.00 $20,000.00 $18,098.00 Price $15,000.00 $12,974.00 $10,000.00 $5,000.00 $0.00 Video Conference Product ComparisonFigure 6The above figure speaks well about the pricing advantage of TEAM 220 over itscompetition.The price advantage can be used in following ways to expand the market shareof TEAM 220. Price has been seen a major concern in the Post recession situation which can be used in advertising and PR campaigns. It’s difficult for competitors to reduce the prices at TEAM 220 level due to their higher costs of manufacturing. More services can be bundled with TEAM 220 with a little increase in price which would be difficult to beat by the competition.Based on above figures we can see that TEAM 220 offers a best value for moneyto the customers.The product has best performing standards using the optimum bandwidth tosupport the collaboration.Team 220 has a clear edge in Price; we have found in the audit as well as in theabove comparison chart the Team 220 has full HD Video capture and deliverycapability 6
  • 9. 543 - Project Management in Marketing Membership No. 11860681 2.2 Recommendations on improving Product performanceThese recommendations are based on the internal Audit and critical analysis ofthe findings.Objectives:Audiviz has not set clear revenue targets for TEAM 220 over the past years.Having no clear marketing objectives have resulted lower sales of the product.The objectives for the TEAM 220 for next one year are following; Increase product market share from current 6% to 11% over the period of next 12 months. Enhance the channel effectiveness and develop new channels to reach all target segments. Increase the sales revenue by 12% over next 12 months from current $ 780,000 to $ $ 850,000. Increase product awareness in the target market by 25% over next 12 months. 7
  • 10. 543 - Project Management in Marketing Membership No. 11860681 2.2.1 Marketing StrategyGiven the current situation based on finding from the market Audit. MarketPenetration strategy will be adopted to achieve set marketing objectives.Marketing tactics would be used to implement the penetration strategy;Team 220 Growth Matrix Business Unit Strength High Medium Low High Medium corporate Small corporate Large corporate Medium Education Legal services healthcare Low Construction Semi Government Government Table 1SOURCE: David J. Collis, Andrew Campbell, Michael Goold, Harvard Business Review on Corporate Strategy (HarvardBusiness Review Paperback Series)http://www.quickmba.com/strategy/matrix/ge-mckinsey/The above growth matrix shows some segments which have potential for TEAM 220.The company should target these segments with the right marketing mix and othermarketing tactics. 2.2.1.1 Segmentation Product specific segmentation to reach the target market of TEAM 220 as the product caters to specific need of a team meeting environment within an organization. Recent increase in the volume of small and medium size businesses 8
  • 11. 543 - Project Management in Marketing Membership No. 11860681 have expanded segments of Video conference potential customers. 2.2.1.2 Targeting Undifferentiated targeting strategy will be used to target the market. TEAM 220 can be used across various industries and market segments. This can be in an educational institute or a branch office of a company, or a meeting room of a business centre. 2.2.1.3 Positioning TEAM 220 has not been positioned properly in past. The redefined positioning will be based upon its excellent features and economical price along with other benefits which makes it an ideal product for the target customers. 9
  • 12. 543 - Project Management in Marketing Membership No. 11860681TEAM 220 Re- Positioning Perceptual map High Price C 40 HDX 7000 Low Quality TEAM High Quality 220 Others Low PriceFigure 7The Above repositioning perceptual map clearly shows the quality and priceadvantages of TEAM 220 against its competing products which were not used inthe communication campaigns for the product. 2.2.2 Marketing Mix 2.2.2.1 Product Product TEAM 220 has been developed to meet the growing needs of high definition video conference system which can perform on a small bandwidth on internet. 2.2.2.2 Price As shown in the price comparison table of attached Audit, TEAM 220 offers best value for money to its customers. 10
  • 13. 543 - Project Management in Marketing Membership No. 11860681 2.2.2.3 Place Channel expansion is critical to achieve the desired marketing objectives of TEAM 220 recommended plan. Existing channel partners have limited reach to all target segments hence new partnerships have to develop to reach all potential segments. Digital distribution channel can be added to extend the reach to the SOHO segment which may not be focus of the channel partners. . 2.2.2.4 Promotion Promotion is the strongest factor lacking in the current marketing mix of TEAM 220. Promotion can be done by using few of following promotion media • Participation in Gulf Information Technology Exhibition (GITEX), The Largest IT exhibition in the Middle East which will be organized in September 2011. • Channel partners sales promotional activities would be initiated by offering bundle prices and incentives over achieving a specific purchase value. • Digital promotion channels will be used to run sponsored ads on Google. • Search engine optimization will be done for Google, yahoo, and bing to generate more leads. 2.2.2.5 People 11
  • 14. 543 - Project Management in Marketing Membership No. 11860681 TEAM 220 is service mixed products hence people involve in the transaction have to be trained to serve the customers better. • Sales, customer service employees to be fully train on all commercial as well as on few technical aspects of the product to explain it better. Same applies to the staff of channel partners who would be facing end users most often, extensive trainings to be conducted for enhancing the peoples’ skills. • Technical support employees of the company as well technical teams, installation teams of the channel partners to be provided with extensive product trainings on quarterly basis. 2.2.2.6 Process The process of product delivery and installation and commissioning are the points of a service encounter which builds the rapport of the service provider in mind of the company. • Audiviz will strive to improve the process of product delivery, installation and commissioning. The channel partners commissioning teams will be equipped with training to improve the efficiency of delivery. 2.2.2.7 Physical evidence Audiviz will make sure that all Installation and testing tools as well as other technical equipment will be provided to the technical teams for delivering the service within promised time frame to achieve higher customer satisfaction. 12
  • 15. 543 - Project Management in Marketing Membership No. 11860681 2.2.3 Communication Strategy Push communication strategy will be used to reach the target audience through various media vehicles; • Below the line advertising- Trade magazines, research articles • Participation in Trade show i.e. INFOCOMM Middle East during GITEX, the largest IT exhibition in the Middle East. • Digital media advertising – Facebook, Linkedin, search engines • Free Video conference sessions: to give a touch and feel message to the trade visitors during the exhibition. 2.2.4 Cost & Benefit AnalysisThe proposed recommendations have certain associated financial and nonfinancial costs which have to incur to gain financial and non financial benefitsduring the project duration and in the long run. 13
  • 16. 543 - Project Management in Marketing Membership No. 11860681 The cost and benefit analysis is shown in the below table: Costs Cost of resources invested in the proposed Possible reduction in the sales revenue due to lack recommendations. of marketing activities. Internal and external cost of employing resources to Slow growth of the product in a fast growing market execute the project. will reduce the market share of the product. Expenditure on training and development of the Lower awareness of the product as well as employees during the project. company’s other services. Opportunity cost of the time which employees will Weaken relationship with channel partners due to spend in the project related activities and slow response and less marketing focus compared arrangements of their alternatives during the to the competition. proposed period. Opportunity cost of not implementing the project as Increase in revenue of other portfolio products due recommended by the researcher. to awareness among the customers about the Non-FinancialFinancial services of the company. Increase in revenues will increase the profit of the Increased credibility among the suppliers due to a shareholders. better position in the market. Increase in the revenues will result into increments Identification of any loop holes to ratify in due course for employees. Identification of challenges and preparation of Increased revenues will lead to new markets solutions according to the development. Increased service quality due to employees’ Strong financial position will increase the confidence trainings will improve the productivity. of the investors and lenders to provide more funds for expansion to new markets. A better understanding of competitors’ activities and their strengths as well as weaknesses. Expansion in the distribution channel will open more markets. Identification of the actual position among the 14
  • 17. 543 - Project Management in Marketing Membership No. 11860681 competition will help to set up growth plan for future. fo Benefits 2.2.5 Revenue Projection The above made recommendations will help the company to increase the market share of TEAM 220 by approximately 5% within the existing markets by year 2012. A rigorous forecast of . revenue growth is given below. TEAM 220 Revenue Growth Growth(Actual + Projection) Table Actual Forecast Year 2009 2010 2011 2012 revenue $730,000.00 $780,000.00 $850,000.00 $1,030,000.00 Gross Profit $219,000.00 $234,000.00 $255,000.00 $309,000.00 Yearly Growth Rate (%) 6% 9% 18% Table 2 Actual Performance Table for 2009 ~ 2010 TEAM 220 Past revenue $780,000.00 $730,000.00 $800,000.00 Annual Revenue and profit $600,000.00 $400,000.00 $234,000.00 $219,000.00 revenue $200,000.00 Gross Profit $0.00 2009 2010 Year Figure 8The above Table shows the previous two years product revenue and growth inthe profits. 15
  • 18. 543 - Project Management in Marketing Membership No. 11860681TEAM 220 Revenue forecast for 2011 & 2012 TEAM 220 Sales Forecast $1,200,000.00 Annual Revenue and profit $1,030,000.00 $1,000,000.00 $850,000.00 $800,000.00 $600,000.00 $309,000.00 revenue $400,000.00 $255,000.00 Gross Profit $200,000.00 $0.00 2011 2012 YearFigure 9The revenue forecasts shown in the above table are based on the rigorousanalysis and research as well and it has a direct relation with the proposedproject to increase the awareness of the product and expand the distributionchannels of the product which will run for 12months starting in June 2011. willWith reference to detailed Audit in the Appendix II, it has been analysed to makerecommendation for improvement in the sales performance of LifeSize Team 220through adoption of marketing tools. Following the below steps will improve the belowperformance of TEAM 220 in the UAE marketThe company should do following activities to increase the market share and revenue of Team200 product along with other products in the portfolio. Lunch aggressive channel expansion campaign Product demonstrations and road shows at several occasions. Promotional campaign to increase product awareness in the target market Re define the product marketing strategy Repositioning the product with a new positioning strategy based on STP ap approach 16
  • 19. 543 - Project Management in Marketing Membership No. 11860681 Developing a marketing oriented culture to support the growth in Improving channel performance with training and support Road Shows and live demo Kits to be provided to channel partners at cost to cost basis. Expanding the existing channels and removing any barriers to entrants Launching channel support initiatives Developing Key account management concept to strengthen the relationship with the channel partners. After Sales services improvement. 17
  • 20. 543 - Project Management in Marketing Membership No. 11860681 2.3 Critical Assessment of the organization resources Resources are pre requisite for initiation and success of the proposed product management project. Below table explains the resource requirements for the proposed recommendations. Human Resource Project Sponsor, Project Manager, Project Event management company organize the Facilitator and Project team. building of stand during the exhibition Project team would consist of people from Channel partners sales force, customer Marketing & Sales department, support staff to execute promotion Operations, Finance, Customer Services campaigns. department. Few customers to collect their feedback Project team would require some support about the project, awareness campaign from their colleagues to provide back up and the product. during their absence from their desk. Training consultants to train the internal Management to provide required support sales force. to the team in running the project successfully. Training consultants for the training of customer services department staff. Staff to be trained about developing their marketing skills to run promotional Female models to assist visitors during the campaigns. exhibition ExternalInternal Additional office space required for project Studio rental to conduct press releases team to manage the project activities. about the product Meeting room to conduct meetings Advertising agency to create promotional materials and brochures for the project and Facilities to store project related materials, channel partners advertising materials, demo units. Printing of brochures, other advertising Computers, IT support, Software, mobile materials to be used for the project phones for the new team members. Delivery arrangement for promotional Telecommunication services, like Instant material and demo kits to channel messenger, email services on mobile partners/customers by courier or higher phones for all team members to stay in packer/removing company/own vehicles touch with other colleagues and response instantly if required Liability Insurance for project team and the equipment. Data mining facility for the team from the company data base. Vehicles for project team members who 18
  • 21. 543 - Project Management in Marketing Membership No. 11860681 are not having own vehicles during their special assignments Non –Human Resources 19
  • 22. 543 - Project Management in Marketing Membership No. 11860681 2.4 Project Plan, Implementation & Evaluation 1. Project Introduction The project has been initiated to increase the market and revenue share of TEAM 220 video conference system. 2. Project Organization – Project Team Project Team consists of following members within the company; Project Sponsor: Manoj – General Manager Project Manager: Zafar – Channel Account Manager Project Facilitator: Marj – coordinator Project Team members: Perfecto – IT support Suzee – HR Manager Sunil – Financial Controller Vinod - Operations Manager Von – Graphic Designer Thomas – Sales Manager Rijoy – Service coordinator 20
  • 23. 543 - Project Management in Marketing Membership No. 11860681 Project Sponsor Projec t Manager Projec Facilitator Team Team Team Team Team Team Member - TeamMember- Member- Member - Member - Member - Rijoy Member - Von Suzee Sunil Perfecto Thomas Vinod 2.1 Roles & Responsibilities 2.1.1 Project Manager: Zafar Project manager will initiate the activities and successfully implement the task including; i. Identify, track, resolve project issues ii. Disseminate project information to the team and other stakeholders iii. Manage implementation of the tasks and make sure that deadlines are not ignored. iv. Define the progress of project during scheduled project update meetings. v. Manage overall project activities within the specified budget. 2.1.2 Project Facilitator - Marj i. Support the project manager in all the activities related to project. ii. Liaise with all team members and keep them updated about the developments in all stages of the projects iii. Coordinate with suppliers for procurement and supply of equipments and other materials required for the project. 2.1.3 Project Team Members i. Suzee: HR Manager – To support the project manager in allocation of human resources for various project tasks. 21
  • 24. 543 - Project Management in Marketing Membership No. 11860681 ii. Vinod: Operation Manager - Arrange for logistics and other support required for delivering goods to channel partners and organizing events for product promotion. iii. Perfecto – IT support – Update company website and social media sites about the developments in the project. Arrange for IT support to the project team. iv. Sunil – Financial Controller – review and manage the financial resources of the project, control payments to supplier, take necessary approvals from the G.M ( Project Sponsor) v. Von – Graphic Designer – Design brochures, POS materials, product data sheets, compile technical comparisons. vi. Thomas – Sales Manager – Invite existing channel partners to events, take market intelligence about competitors’ movements during all the stages of the project. vii. Rijoy – Service coordinator – Upgrade CRM database about the new inquiries received from vendors, take customers feedbacks about the product performance and provides required support to the project team.3 Project Planning & Design 3.1 : Project scope & objectives The scope of the project is to improve the performance of TEAM 220 video conference system in the UAE market. Objectives of the project are following; i. Increase market share of TEAM 220 by 5% ii. Increase Sales revenue by 12% in next 12 months iii. Increase product awareness by 20% 3.2 : Project duration i. Project Duration : 12 months ii. Start Date: June 10, 2011 iii. Completion Date : June 9,2012 22
  • 25. 543 - Project Management in Marketing Membership No. 11860681 3.3 : Project deliverables i. Developing and execution of the marketing strategy to increase the performance and market share growth of TEAM 220 Video conference systems. ii. Marketing tactics will be divided into small tasks to complete the big picture project objectives. 3.4 : Project management methodologies Project implementation will be managed by Openproj software and controlled by Gantt chart application. 3.5 Project Resource requirements Please refer to Task 2.3 for where detailed resources requirements have been explained. The financial resources required for project are explained under Project Budget heading 3.8. 3.6 Project constraints Marketing Project would be having some constraints in terms of its scope and deliverables. The project requires full implementation based on duration give above to deliver set objectives. 3.7 Potential Risks Risk Management & Mitigation of those risks of internal and external nature and their mitigation haves been evaluated in the task No. 2.5 3.8 Project Budget The project budget is based on percentage of sales method. The researcher has proposed approximately 8% of year 2010 sales revenue of TEAM 220 to be utilised for marketing project. Project Budget: $ 62,000.00 Contingency: $ 5,000.00 Project Budget for Product Management Project Duration: 4 Q1 (June - Q2 (Sept- Q3 (Dec- Q4 (March- Quarters Aug 11 Nov 11 Feb-12) May 12) TOTALPublic Relations PR Firm $ 500.00 $ 500.00 $ 1,000.00Press release wire fees $ - Review Program $ 300.00 $ 300.00 $ 600.00 Analyst subscription/reports $ - Press tour(s) $ - TOTAL Public Relations $ - $ 800.00 $ 300.00 $ 500.00 $ 1,600.00 23
  • 26. 543 - Project Management in Marketing Membership No. 11860681Web Marketing Online advertising creative $ - Google Ads program $ 400.00 $ 400.00 $ 800.00 Search Engine Optimization (SEO) $ 1,000.00 $ 300.00 $ 1,200.00 $ 2,500.00 Website development/updates $ - $ - $ - TOTAL Web Marketing $ 1,400.00 $ 300.00 $ 1,600.00 $ - $ 3,300.00Advertising VAR/Channel advertising $ 1,500.00 $ 500.00 $ 1,000.00 $ 500.00 $ 3,500.00 TOTAL Advertising $ 1,500.00 $ 500.00 $ 1,000.00 $ 500.00 $ 3,500.00Collateral Data sheet $ 150.00 $ 300.00 $ 450.00 Brochure $ 300.00 $ 1,200.00 $ 200.00 $ 200.00 $ 1,900.00 White Paper $ 400.00 $ 400.00 Web Content $ 600.00 $ 300.00 $ 900.00 FAQs $ - $ - Training materials $ 400.00 $ 350.00 $ 200.00 $ 200.00 $ 1,150.00 TOTAL Collateral $ 1,850.00 $ 1,850.00 $ 700.00 $ 400.00 $ 4,800.00Events (GITEXExhibition) 15 SQM shell space with 2 sides open $ 7,233.00 $ 7,233.00 Travel expenses $ 1,000.00 $ 1,000.00 Booth Signage $ 300.00 $ 300.00TelecommunicationsRental $ 450.00 $ 450.00 Refreshments $ 250.00 $ 250.00 Invitations $ 150.00 $ 150.00 Lunch - Dinner for channel partners $ 1,200.00 $ 1,200.00Give Away, promotional items $ 800.00 $ 800.00 TOTAL EVENTS $ 7,233.00 $ 4,150.00 $ - $ - $ 11,383.00Direct MarketingCampaigns Creative development $ 100.00 $ 100.00 Emails to trade visitors during exhibition $ 300.00 $ 300.00 Emails to existing customers $ 200.00 $ 200.00 TOTAL DirectMarketing Campaigns $ 300.00 $ 300.00 $ - $ - $ 600.00Channel MarketingPrograms 24
  • 27. 543 - Project Management in Marketing Membership No. 11860681 Cost of Demo Units tobe provided to Partners $ 16,000.00 $ 8,000.00 $ 24,000.00Channel Partners Sales Force Training $ 3,000.00 $ 2,500.00 $ 2,500.00 $ 8,000.00Road Show shared with channel parnters $ 1,500.00 $ 1,500.00 $ 3,000.00 $ - $ - Marketing programs with retail partners $ 1,000.00 $ 800.00 $ 1,800.00 $ - TOTAL Channel Marketing Programs $ 21,500.00 $ 10,500.00 $ 4,800.00 $ - $ 36,800.00 Q1 (June - Q2 (Sept- Q3 (Dec- Q4 (March- % ofSUMMARY Aug 11 Nov 11 Feb-12) May 12) TOTALS TOTAL $Public Relations $ - $ 800.00 $ 300.00 $ 500.00 $ 1,600.00 0.03 $Web Marketing $ 1,400.00 $ 300.00 $ 1,600.00 $ - $ 3,300.00 0.05 $Advertising $ 1,500.00 $ 500.00 $ 1,000.00 $ 500.00 $ 3,500.00 0.06 $Collateral $ 1,850.00 $ 1,850.00 $ 700.00 $ 400.00 $ 4,800.00 0.08Events (GITEX $Exhibition) $ 7,233.00 $ 4,150.00 $ - $ - $ 11,383.00 0.18Direct Marketing $Campaigns $ 300.00 $ 300.00 $ - $ - $ 600.00 0.01Channel Management, $and development $ 21,500.00 $ 10,500.00 $ 4,800.00 $ - $ 36,800.00 0.59TOTALS $ 33,783.00 $ 18,400.00 $ 8,400.00 $ 1,400.00 $ 61,983.00% of TOTAL 0.545036542 0.296855589 0.13552103 0.022586838 Important Budget Highlights: 60% of the budget will be spent on channel 1 management & development. 2 20% of budget will be spent on the GITEX exhibition 20% of the budget will be spent on other marketing 3 activities Table 3 4 Project Implementation schedules 4.1 : Implementation schedules; Below attached Gantt chart explains the implementation schedule of the project over the planned time. 25
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  • 32. 543 - Project Management in Marketing Membership No. 11860681Figure 10 Note: Gantt chart has been printed using MS office one note, it has been prepared using openproj software which doesn’t support the printing to a word document. All 15 pages (3.56MB) couldn’t be attached due to 4MB maximum file size limitation by CIM. All pages attached to hard copy of the report. 30
  • 33. 543 - Project Management in Marketing Membership No. 118606815 Project Termination and Evaluation 5.1 : Project Termination Decision Upon the completion of the duration, the project will be terminated and project evaluation will be conducted by the project manager. 5.2 : Project evaluation 5.2.2.1 Direct method of evaluation Direct evolution method quantifies the changes occurred due to implementation of the project. Increase in Sales Revenue: Sales revenue can be measured over the period of project duration. Sales can also be compared to last year’s growth rate+ average sales over the years compared to the year of project. Cost – Benefit Analysis: Another direct method of evaluation where cost of a project is deducted from the benefit of the project Cost of TEAM 220 Projects: (C) $ 62,000 Projected Profit from the project for 2011: (P) $255,000 Profit = (P - C): Profit: 255,000 – 62000 = 193,000 Projected NET Profit after for year 2011 = $ 193,000.00 5.2.2.2 : Indirect method of evaluation Increase in Customer Inquiries: Increase in the number of inquires shows a sign of increased awareness among the target markets. The customer inquiries will be routed through channel partners. Profitability margins: Change in profitability is a result of change in the sales revenue. This can also be a measure of project implementation. 31
  • 34. 543 - Project Management in Marketing Membership No. 11860681 5.3 : Potential Growth Forecast Potential growth forecast for TEAM 220 is given in below table: TEAM 220 Sales Forecast $1,200,000.00 Annual Revenue and profit $1,030,000.00 $1,000,000.00 $850,000.00 $800,000.00 $600,000.00 $309,000.00 revenue $400,000.00 $255,000.00 Gross Profit $200,000.00 $0.00 2011 2012 Year Figure 11 The researcher has rigorously estimated the forecast of the sales during and after the implementation of the project. The Project will start at end of 2nd quarter of 2011 and will finish by end of 2nd quarter of 2012. 32
  • 35. 543 - Project Management in Marketing Membership No. 11860681 2.5 Critical Assessment of the sources of risk from internal and external perspectives and its’ mitigation 2.5.1 Risk IdentificationRisk is the defined as the probability of a threat which can cause damage to anactivity and affects the ability of an organization to achieve its objectives.There are mainly four types of risks involved in the projects. i. Performance Risk Performance risk is also known as quality or technical risk. This risk is mostly associated with technological products and services. the probability of performance risk occurrence with the TEAM 220 project is moderate but not major because the product has been tested and evaluated by the manufacturer as we as by the Audiviz Team. ii. Project Management Risk Project management risk occurs when project planning, resources and schedules are either not prepared or not being implemented. The project management in the TEAM 220 project is minor as the project implementation is under control of the project manager and implementation team is being closely observed by the project manager. iii. Organizational Risk The organization can cause risk to the project by poor planning of funding, delays in release of funds or lower priorities of project during funds imbursement. The organizational risk can be seen as a major risk for the project TEAM 220, accurate planning has been done and project management team would make sure that supplies of funds keep its flow running during project duration. iv. External Risk External risk is a major risk during the project. This risk is caused by external sources, either competitors or by another party without an intention to harm, changes in broader macro environment and industry may cause some risk, mitigation of this risk can be done by identifying it timely. Marketing intelligence to be regularly collected to and competitor environment has to be regularly analysed by the marketing team to find sources of external risk and mitigate them. 33
  • 36. 543 - Project Management in Marketing Membership No. 11860681 Risk Probability and Impact Rating Probability of Impact of the Occurrence risk Description Risk Description Risk Rating Rating Almost certain 5 Catastrophic 5 High 4 Major 4 Moderate 3 Moderate 3 Unlikely 2 Minor 2 Rare 1 Insignificant 1 Table 5 2.5.2 Risk Analysis Risk analysis has been carried out by using Fish Bone Analysis method. Fish Bone Analysis: Knowledge Compliance Communication Tools & Implementation Techniques Failure of the ProjectNo expertise Commitment Inadequate skills Operation al risk Strategic risk Figure 12 34
  • 37. 543 - Project Management in Marketing Membership No. 11860681 2.5.3 Risk Mitigation Risk Managements Table Risk Identification, Analysis and Mitigation Risk Impact + Rating Prob Ratin Causes Mitigation ( 1 - 5) abilit g (1- y 5) Of occu rren ce1 No full-time project Project delivery Project team Project team members would team to deliver all may not be members still have be motivated to work with tasks before the adhered to the their regular job tasks plan and inform the project deadlines. planned date (5) to be performed along manager for any urgent task 5 25 with the project tasks. they prioritize upon the Assigned task may project schedule not be completed according to schedule.2 Lower response May drop the moral Distributers have not Convincing the channel from the channel of project team (3) introduced the culture partners’ management about partners bout the 5 15 of providing trainings the benefits of higher sales marketing initiative to channel partners’ after the staff training. and training staff. delayed release of reduces the pace delay in cheques sign Financial control to keep the payments to task scheduled process or banks reserve funds for project suppliers resulting plan as well as clearance of account related payments to in delayed overall project receivables due to an suppliers for smooth activity 3 12 deliveries of growth (4) external factor processing. Project related equipment, material3 Late deliveries of Channel partners Delayed bank Purchase order only orders to channel would be more transfers and cheque acknowledged once the partners due to likely to abstain clearance hence advance payment received, delays in imported refrain from 4 16 making the order All P.Os to be acknowledged goods delivery ordering in future process slow only after payment receipt. unless sure about stock. (4)4 Slow product more likely to affect Engagement of All service calls to be repairing and repeat purchases customer support staff entered into database with a service requests from existing 4 12 with ongoing projects clear deadline to be met response customers (3) due to manpower using all possible means shortage.5 Lack of less interest in This may be caused HR Manager to keep Commitment project related due to some other information about any among team tasks assigned to 4 16 internal issues within ongoing issues and provide members them (4) organization support to team members for resolving such issues 35
  • 38. 543 - Project Management in Marketing Membership No. 118606816 Lack of direct impact over caused due to work Project facilitator to make communication the project load of regular duties sure the messages have among team progress and been delivered to right members assigned task 3 9 people by employing read completion (3) receipts while sending email and other web based communication7 shortage of product delayed delivery to stock shortages due stock channel partners to unexpected sales and negative 2 6 or delays in the import new orders to be placed impact on rapport ( shipments immediately when stock level 3) decreases till reserve stock8 Employees turn directly affecting Better job HR manager to take quick over during the the project activity if opportunities available action by offering equal project activity the team member with other incentives to employees or 4 20 has been assigned organizations that higher a suitable person the role in the may attract the before the employee leave project (5) employees. the organization. Table 6 36
  • 39. 543 - Project Management in Marketing Membership No. 11860681 2.6 Evaluation of the Operational Implications to the organization if recommendations are not implementedThe above project would cause following implications if not implemented asproposed; i. Decrease in Product Market Share As analysed in attached audit in the appendix, market share for TEAM 220 has grown slowly over the past two years. Development of a new technology will reduce the market share causing to phase out gradually. ii. Decline in marginal revenues The competition has not yet been able to develop solution which provides same quality with competitive price of TEAM 220, If competitors develop such product, it will directly affect the marginal revenues of TEAM 220. iii. Lower product awareness The project will increase the brand equity and product awareness among stakeholders. Delays in implementing the project will have a negative impact over the product awareness. iv. Weak position among the competition Project implementation will enhance the image of company compared to its’ competitors due to a stronger product, delays or cancellation of the project will keep the company in the weaker position among the key competitors. v. Employees development The project team in particular and other employees in general would get motivation due to implementation of the project as success of the project will result into increments and bonuses for them, cancellation of the project may decrease the morale of the employees. 37
  • 40. 543 - Project Management in Marketing Membership No. 11860681 REFERENCES McKee. F., Cox,E., Housden, M., & Parkinson,L., 2009, Project Management in Marketing. Butterworth-Heinemann, Oxford, UK. Magicks, P, Donnally, R. & Harrison, G., 2009, The Marketing Planning Process. Butterworth-Heinemann, Oxford, UK. Kotler, P., Keller, K.L., Koshy,A., Jha, M.,2009, Marketing Management. 13th Edition, PESRSON, Delhi, India. InfoComm International, January 2011, Economic Snapshot survey, New York, USA. LifeSize Product Comparison, 2011, LifeSize Corporation, IL, USA. Videoconferencing industry report, February 2011, Weinhouse Research LLC, New York, USA. Fishbone, 2004, available at : http://www.ibm.com/developerworks/lotus/library/fishbone/ (accessed on 20- May- 2011) Beattie, M., Austin, S., Priest, K., 2010 Asia Pacific Market Forecast & Provider Review, Weinhouse Research LLC, New York, USA. David J., Andrew C., Michael G., Harvard Business Review on Corporate Strategy (Harvard Business Review Paperback Series) available at: http://www.quickmba.com/strategy/matrix/ge-mckinsey/ (accessed 15-05- 11) 38
  • 41. 543 - Project Management in Marketing Membership No. 11860681 APPENDIX I Brief Background of the OrganizationIntroductionAudiviz Technologies is an audiovisual systems integrator based in Dubai, UAE.Audiviz is a privately held business established in year 2002, since inception.Corporate office is in Dubai and a branch in Abu Dhabi UAE. Audiviz has completedmore than 700 systems integration projects since 2002.Audiviz specializes in ystemsaudiovisual systems, and has done some high profile projects in recent years.Management Structure The company operates on a function structure. Business is run by General Managerwho acts as a CEO while Managing Director (President) is the owner of thebusiness.Customer BaseAudiviz has been serving customers from Government, corporate, hospitality,military, Oil and Gas, Education and financial services sectors. It has built a crediblereputation among these sectors. Audiviz channel partnerships are with several ICT(Information and Communication Technologies) who serve major and smallercustomers across the county.As company operates in Business to Business environment, it targets qual qualityconscious corporations who strive to create a difference from their competitors evenin terms of audiovisual systems design and implementation. Bringing latesttechnology for customers has always been a goal of the management. The latesttechnology offering differentiates Audiviz from its competitors. eringPosition in MarketAudiviz positions itself as a Value added distributer and premium integrator with aphilosophy of serving customer needs with suitable technology. Today, Audiviz isknown as one of leading audiovisual systems distributer in the country. The market ingleader takes around 35% of the market share while Audiviz has approximately 13%market share. Audiviz stays ahead of many competitors due to its well trained andexperienced workforce. The Team includes some of the best project managers,Engineers, and technicians in the country. They are certified from industry bodies 39
  • 42. 543 - Project Management in Marketing Membership No. 11860681and leading manufacturers’..I.e. InfoComm International, Crestron, Extron,LIFESIZE, BOSE, etc.Industry Memberships:Audiviz is a certified member of Infocomm International;InfoComm International® is the leading non-profit association serving theprofessional AV communications industry worldwide. Founded in 1939, theassociation offers industry expertise and market research serving press and othersseeking information about the industryServices Audiviz provides following services; A. Systems Distribution Audiviz provides systems distribution to UAE market. Major focus of products is on Projection equipment, Video conferencing equipment, and sound systems. B. Systems Integration Systems integration highly depends upon the skills on technical team. With some of the well known and certified people on board, Audiviz has been involved in some of the high profile projects over the past few years. There is lot of design work involved in integration and company has resources who meet the lead consultant’s requirements in terms of providing wonderful designs. Audiviz integrates following systems C. Maintenance and ServiceThe company offers comprehensive programs to its customers for systemsmaintenance support. Guaranteed uptime of technology, hardware /software repairare part of the maintenance service. The support service is not only for company’sown clientele but also for competitors’ clients who want to change the vendor. Manynew accounts have been won due to excellent service being offered by Audiviz.Ensuring that presentation equipment delivers maximum reliability and optimumperformance are the daily targets of support team 40
  • 43. 543 - Project Management in Marketing Membership No. 11860681 APPENDIX II Marketing Audit (Task One) 1.1 Audit of the organization’s approaches to portfolio management 1.0 PEST ANALYSIS Political Economical Stable Political situation compared with other Reduced corporate budgets post recession. Regional courtiers. Businesses closures during recession Government initiatives for technology adoption Reduced lending available to businesses Government initiatives to expand the technology Global stock markets impact. Infrastructure. Growth in business start ups – services sector Impacts of global political developments Exchange rate fluctuations Low interest rates and inflation Social Technological Wise spending methodologies are being adopted UAE has 23rd ranking on Global IT acceptance Trends to develop price based buying models Report after Belgium and ahead of Ireland. Recession created ‘value-focused’ buyers High speed IT infrastructures (Fibre optic based) Go green initiatives by social groups Low IP based communication solutions An expansion in usage of internet over past few E-marketing developments (customers & users) Years’ shows the changing social trends.’ Online purchasing making buying easier Reduced life cycle of technological products Increased rate of technological upgrades and Replacements. 2.0 PORTERS 5 FORCES: Industry Analysis Threat of New Entrants (Low Risk) Supplier bargaining power (Low Risk) Developments in services offerings from Telecom OEM manufacturing Services Providers. Higher technological involvement Tough procedure of qualification Some vertical integration via acquisition Credibility is an important factor of selection Cheaper manufacturing in China, India etcCompetitive rivalry in industry (High Risk) Customer bargaining power(High Risk) Threat of substitute (High Risk)Strong, capable rivals with good track record Alternatives products are of lower cost and quality Lower cost/quality alternatives availableLong presence. Difficult t switch from one brand to another Greater availability/comparison via weblower quality brands also available Developing retail market for HD cameras segments Conferencing services.Pro-active competitor investing in marketing Economic downturn increasing customer Movement to mobile based 3G servicesOnline buying making price comparisons easier Promiscuity Price.Similar dist. channels so substitution possible 41
  • 44. 543 - Project Management in Marketing Membership No. 11860681 3.0 Industry SWOT AnalysisStrengths… Weaknesses…Research & Development based organization focusing on innovation Weak direct distribution channel to end usersFull HD support with minimum bandwidth requirements Intermediaries between distributor and end user (+ high involvement product)Competitive prices in the industry Poor marketing of product features to the target segments restricting high salesSuperior user experience during the conference Small turnover restricting marketing budgetsProduct range can meet the needs of the target segments Confusion over current & future direction of business due to economic meltSelling point of being low cost than competing brands of same quality Down.Reduced costs due to economies of scales Low response levels during previous campaigns Little differentiation between physical appearance of other product offerings Perceptions of ‘ ‘ low quality brand’ due to competitive pricing Competitors’ propaganda against the quality vs. Low pricesOpportunities… Threats…More than 25,000 small and medium sized prospective customers in UAE. HD capable web based conferencing can cause damage.Business are more interested to adopt cost efficient systems due to impacts More aggressive competitors’ strategies to counter the LifeSize expansion plans2009 recession. Huge marketing budgets of competitors who have larger market shares.Opportunities to expand the market share by an aggressive penetration Competitors enjoy rapport with in the target markets due to long presence.Supported by marketing efforts. Higher market spends from the competition especially TANDBERGExpansion in the distribution channels can increase the reach to many Reduced funds for new technology adoption in some segments (Real Estate)Target segments. Competitive pressures & marketing spend from Cisco for TANDBERGNumber of new start ups /branch offices increased compare to 2009 Increasing rate of android based mobile apps and services offered to attractNumbers. New prospects by 3G mobile video calling service providers.Lower equipment prices help the customer decision making processEffective use of digital marketing can increase the customer awareness 4.0 Product Competitive Analysis Product Features & Price Comparison Table S. LifeSize Polycom HDX TANDBERG No Product Futures Team 220 7000 C40 1 Video Modes: 1.1 1920x1080p 30fps Yes Yes Yes - Option 1.2 1280x720p 60fps Yes Yes Yes - Option 1.3 1280x720p 30fps Yes Yes Yes 1.4 Dual Stream @1280x720p 30fps Yes No Yes 1.5 Spatial resolutions >200 9 13 Bandwidth Utilization/efficiency 1080p 2 30fps 1700 kbps >2500 Kbps 2500kbps 2.1 720p 60fps 1100 kbps 2048 Kbps 2200kbps 2.2 720p 30fps 768 kbps 1728 Kbps 1792kbps 1280x720p 704x480p 2.3 resolution @ 768kbps 30fps 30fps 720x480p 30fps 2.4 Max. bandwidth point to point 6 Mbps 6 Mbps 6 Mbps 3 Multipoint (MCU) Participants 4 CP 4 CP 4 CP 3.1 1080p 30fps Yes No No 3.2 720p 60fps Yes No No 3.3 720p 30fps Yes Yes No 4 way @ 2 4 way @ 2 4 way @ 3.4 Max bandwidth per CP participant Mbps Mbps 2.5Mbps 42
  • 45. 543 - Project Management in Marketing Membership No. 11860681 4 Transcoding video/audio Yes Yes Yes 5 Custom layouts for each participant Yes No No 6 H.460 Yes Yes Yes 7 HD Multi camera HD Yes Yes Yes 8 Multi display Yes Yes Yes 9 MSRP Hardware $11,999.00 $12,999.00 $16,900.00 10 Options: 10.1 HD Audio Speakerphone Included $1,000.00 Not Available 10.2 Software Included $3,099.00 $8,200.00 10.3 1 year support $975.00 $1,000.00 $1,800.00 11 End User Selling Price (MRSP) $12,974.00 $18,098.00 $26,900.00 Source.LifesSize comparison documents – sample attached in appendix IV5.0 Product SWOT AnalysisStrength WeaknessesTeam 220 has latest Full HD video capturing and Poor product positioningdelivery Core features driven strategies rather than valueThe product performs better than the competing addition products Lack of marketing activates and proceduresThe prices are competitive than the competitors resulting inwhich Lower revenues against the competition.Gives an edge of ‘being affordable for many’Opportunities ThreatsMarket has good potential for high quality product Web based video conference services with an affordable initial investment Offered with HD cameras.Development of technology is leading people to consider reduction from the competitors PriceGrowing market of collaboration systemsExpanding customers segments creating manyopportunities.6.0 PORTFOLIO ANALYSIS Stars Question Marks Projection Systems Video Conference Systems ( TEAM 220) Build selectively Cash Cows Dogs Other AV systems Control systems 43
  • 46. 543 - Project Management in Marketing Membership No. 118606811.2 Assessment – how organization can improve the performance of the chosen product in the context of its overall portfolio Audiviz Technologies is a leading audiovisual systems provider to UAE market. The company carries systems which help people in collaboration. One of the products offered by Audiviz is LifeSize® TEAM 220 Video conference solution for a team environment. Team 220 has excellent features but its revenue has been lower than expected as compared to competing products of same range. As been part of Marketing team at Audiviz I have conducted research to find out what are reasons behind the lower performance of TEAM 220. The research has been conducted to assess the performance of TEAM 220 video conference systems by utilizing all possible means available with permission from the Management.1.2.1 Research Methodologies AdoptedDue to lack of available resources to organize and exclusive field research, I haveconducted internal and desk research to identify the causes of lower sales of Team220.1.2.1.1 Internal Research Company’s Database, financial records, Sales leads, inquiries and invoices have been used to collect data about the performance of the company.1.2.1.2 Depth Interviews Depth Interviews have been conducted with Sales Manager, Channel Sales team, technical support team supervisor, and during the research process.1.2.1.3 Desk Research The desk research has also been conducted to identify the causes of poor performance of TEAM 220. It has also helped in understanding trends and competition offerings. This research has proven to be very helpful as it employs many independent research organizations, i.e. Weinhouse Research, IDC, and industry bodies like InfoComm International. I have 44
  • 47. 543 - Project Management in Marketing Membership No. 11860681 also searched through the company website and other material available online at various platforms.1.2.1.4 Qualitative Research The Qualitative research has been conducted by utilizing interview techniques in a casual manner within the company as well as with the channel partners. The qualitative research has helped to understand the partners’ perspective about the understanding of product actual and perceived performance. Both single and double barrel questions have been asked to respondents to get relevant answers.Life Size Team 200 has been developed to meet the needs of teams meetings in FullHD 1080 format data video capabilities. Even having best features and a competitiveprice, Team 220 could not do well in the UAE market since its introduction in year2009.Below are some interesting factors about the product which have been assessedduring the audit analysis for product performance improvement. LifeSize TEAM 220 provides Full HD Video conference solution with most competitive prices in the market It provides best quality of image with the lowest bandwidth consumption The HD standard has not been promoted as the USP of the product Product perception is negative among the target customers due to lack of awareness Lack of Awareness about the product salient features, advantages and technology on the basis of any marketing and promotion campaign. Road shows and Demos have not been conducted for new prospects. Market has potential which can result into higher reverences and profits. 45
  • 48. 543 - Project Management in Marketing Membership No. 118606811.3 : Key issues identification Existing approach to portfolio management is based on sales oriented system of supplying and installation. The approach core focus is on volume sales using existing distribution channels. Available resources utilization is not at the optimum level due to lack of management processes. After sales services are not up to the industry standard due to poor training of the staff. Distribution channels are not contacted for improving the delivery of service and other operational matters. Promotional materials and product support is not considered as an important factor of sales performance. Existing channel are not exploited with a key account management approach in focus. Product awareness is lacking among the sales & marketing teams and channel partners’ sales force. Merchandising is not monitored and stocks are being kept for more than 60 days in stock. Easy to sell products are being kept in the stock.Total word count for Task 1: 1635 46
  • 49. 543 - Project Management in Marketing Membership No. 11860681 APPENDIX III Personal StatementProvide a brief statement confirming the following: ‘I confirm that in forwarding this assessment for marking, I understand andhave applied the CIM policies relating to word count, plagiarism and collusion for alltasks. This assignment/project is the result of my own independentwork/investigation except where otherwise stated. Other sources are acknowledgedin the body of the text and/or a bibliography is appended. The work that I havesubmitted has not previously been accepted in substance for any other award and isnot concurrently submitted in candidature for any other award.’Zafar IqbalCIM Membership No. 11860681 47
  • 50. 543 - Project Management in Marketing Membership No. 11860681 APPENDIX IV InfoComm exhibition booking form – sample 48
  • 51. 543 - Project Management in Marketing Membership No. 11860681 TEAM 220 vs. HDX 700 price & technical comparison - sample 49
  • 52. 543 - Project Management in Marketing Membership No. 11860681 TEAM 220 vs. C40 price & technical comparison - Sample 50