For implementing the plan successfully in the market, the company will have to ensure that they are utilizing every opportunity present in the market. However, the company has now started focusing on the marketing process as well in order to explore more opportunities available in the market. Shareholders and investors seek high returns for their capital for the long term. Cengage Learning. In the past three years, Cobalt rush began in Canada in the famous town of Cobalt i.e., Ontario. The company is aiming at using three generic strategies, namely cost leadership, differentiation, and focus.
This has put pressure on the sales and profitability of the company. Poor communication across stakeholders, schedule, and regular constraints, business interruptions, risk management, a deficit of current innovation are the weak points the company suffers from (Kumar, & Rathore, 2015). How to write a marketing plan(Vol. The target audience is high income group people and rich businessmen and hence, the promotional tools have to be chosen accordingly (Thackeray and McCormack Brown, 2010). Regulatory defamation, and policies regarding the health of employees poses the future operations threats, the existence of intervention threat by NGO and international organizations over violations of human rights causing an ecological disturbance. In addition to this, it is important to be formed after a proper analysis of the business environment both internal and external.
Another thing that is a part of a market positioning strategy is understanding the impact of regulations that are affecting the operations of the company in Canada and other parts of Europe. 21 C Metals has a high reputation in the market. Civi, E. and Persinger, E.S., 2011. The Canadian economy is considered as the primary factor for the rising demand for automobiles in the country. Taghian, M., 2010.
In order to increase the profit margin the company needs to target high income customers along with mass production of the model. The first is selling by building trust. Once the marketing plan is implemented, it is important for the manager to ensure that it works effectively. In case the budget limit is exceeded, then the strategic planning might not be very effective. The core competencies of an organization can prove successful in another field of products. Once the site is handed over to the mining companies, they mine and sell the cobalt and palladium in market. This would drive up the price of Cobalt from current standstill position. [online] Available at: http://www.deloreanaerospace.com/about.html [Accessed 20 Sep. 2017]. Talking about the positioning strategy of the company, it is focusing on local market competition and governing the projects as per the regulations. The website does not provide ghostwriting services and has ZERO TOLERANCE towards misuse of the services. Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). 21C Metals can make use of two parameters for measuring the performances, namely sales analysis and marketing cost analysis. The company aims to provide best quality engineering and elegant designs to the customers apart from ensuring safety and free access to the airports. The vision of the 21CMetals is to lead the metal exploration industry with a prime focus on creating value within Europe and Canada through a vertically integrated business model. Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). McDonald, M. and Wilson, H., 2016. Process Identification for Customer Service in the field of the After Sales Service as a Basis for Lean After Sales Service. Mining companies are very much effective in providing their services and products in the market to their existing clients. Grnroos, C. (2013). Lee, N.R. The company is making use of its long-term and well-trusted relationships with the clients in order to make them loyal and satisfied (Khan, 2014). Vaa, K. and ern, ., 2012. This property benefits from surface trenching, drilling, and some geophysics that are full of some precious minerals and metals. [Online]. The targeted market sales will help the company to understand whether their implementation procedure and overall plan was a success or not. This has increased the investment in the Canadian and European market. According to the Northern Prospectors Association, over a dozen investors have come to invest in the Canadian town.
and Ronkainen, I.A., 2013.International marketing. Available from: https://www.myassignmenthelp.net/sample-assignment/marketing-plan. The optimal USP of the company should be created; intermediaries and sales force should apply it effectively for increasing sales in the global market and for increasing brand awareness. In addition to this, it is connecting with its existing and potential customers and leveraging its leads from the credibility it has created. For achieving the marketing objective of increasing the product awareness in the market, the company will have to select and use the suitable promotional tools and techniques. The DRC remains one of the favorable locations for the global investors but due to deterioration of the investing climate caused by the strategic alliance. The budget is a significant part of the marketing plan. These methods do not need any type of marketing. A SWOT analysis of the company has been done that helped in identifying the weaknesses of the company. All that is required from the company to manage its distribution channels properly and effectively. Since the business is B2B, the company is focusing on strengthening its pull strategies by directing its efforts to fulfill the demands of the clients which in this case are automobile companies (Solomon, et.al, 2014).
In addition to this, it also analyse and estimate the overall resource after carrying out further exploration. Discuss the implementation and control of the marketing plan. Kumar, N., & Rathore., (2015). According to Khan (2014), Government regulation and universal environment of demand and supply of the exploration product affect the investment in Canada and Euorpe from perspective of investors. How to Write a Unique Selling Proposition (USP). and Leung, R., (2016). Loo, P.T. Khan, M.T., (2014). It deals in drilling, geophysics, and surface trenching for determining or exploring Cobalt and Palladium rich sites or zones. (2014). The SWOT analysis framework facilitates the organization in identifying the internal strategic factors that are the strength and weakness of the company and the opportunities and threats which are the external strategic factors. (2012). It was mentioned that the company's mission is to explore different sites where Cobalt and palladium are found and maximize the profits of shareholders. The communication systems that will be used by the company to co-operate with the other officials should be well planned so that all the information is passed on without any chances of misinterpretation (Boone and Kurtz, 2013). A financial road map is provided by the marketing budget and it reduces the risks. The client wants the best quality at a low price. The opportunities in the European marketing for dealing with stocks. 21CC Metal Incorporation has various unique selling propositions including-. Turnbull, P. W., & Paliwoda, S. J. Majority of deals of 21C Metals are based on referral schemes and the wide network formed in the past. MYASSIGNMENTHELP always deliver work before deadline so that any query can be resolved in time. However, they are not very good at marketing themselves. It was founded on August 24, 2005, as per the laws of British Colombia. It was identified that the company failed to work in collaboration with other firms having a different culture. Palgrave Macmillan. The other is the referral system and the last one is building a relationship by advising clients. The people involved in the implementation procedure will be providing feedback and overlooking the entire process to ensure that the project is a success. [Online]. (2014). Therefore, Cobalt demand would boom in near future. In the past few decade, there have been a multitude of exploration discoveries in Canadian and European sites that have instigated the investment.In addition to this, the investment in the field of exploration depends upon three strategic factors. Drop an Email - support@myassignmenthelp.net with Payment ID to collcet the Solved Document. Marketing strategy and management. Sage. The concept of'marketing mix and its elements (a conceptual review paper). However, in the past few years, the instability in the cobalt market of DRC has forced the investor to look more reliable and better cobalt producing markets. Zeschky, M. B., Winterhalter, S., & Gassmann, O. References are good but they are not the best method for marketing in the marketing of Cobalt and Palladium where quality and quantity matter the most. The development of new technologies by the market disrupter or the competitor can impose a serious threat to the industry in its long term future. The bargaining power is low as this is the only company in the market supplying DR-7 product. More stability can be brought in the market with a low rate of inflation. One of the financial objectives of the company is to, To manufacture and launch the product, the company has taken capital from many investors. Customers can get credit at the low-interest rates. The marketing audit as a method of the evaluation of the marketing plan. The company is aiming at becoming the well-respected Cobalt and Palladium producer while delivering high values to the shareholder in an ethical way. Marketing planning: Operationalising the market orientation strategy. They might take away the clients by offering a better alternative. The report ended after discussing the implementation plan and after sale strategy for the company. Hence, another financial objective of the company is to. More investments are required to be made in the new technologies for integrating the process across the board. Phil, M. and Jim, B., 2010. Czinkota, M.R. and Gilligan, C., 2012. Its market research is helping in developing an effective and useful market entry strategy. This report discussed the marketing plan for Declan Cobalt Inc. which is an exploring firm and they sell the stocks to the mining companies. Highest ranking executive in the marketing team, Make major decisions related to the marketing, Manage the resources and operations of the team, Examines the long and short term needs of the marketing, Capital utilization for making investments, Creating and developing new innovative ways of communicating the message of the company to the customers, Creating a conducive working environment (Bianca, 2019). General Motors, Volvo, Honda and other car companies are investing hugely in electric cars, thereby creating a large demand of Cobalt in the international market. The number of players has got increased over the last two years due to the stable profitability in the industry. Journal of marketing management,26(9-10), pp.825-841.
Continuing to invest in local communities as the prime value of the business. The first and foremost strategy is 'sell by building trust'. These assignments are for assistance purposes only and students are suggested to use them as guide papers only in order to avoid any sort of law violation of the university or education sector. Baker, M.J., 2014. The SWOT analysis revealed that the company has poor communication among stakeholders, poor organization, and reluctant behavior towards other firms to collaborate.
The demand for palladium in the automotive sector has doubled in the past 10 years. However, the company is still lagging in some field when it comes to tech-enabled changes in real time. The learner has discussed the steps of developing a strategic plan and has also analyzed the market by using SWOT and Porters Five Forces Analysis. (2017). These include global recession, regulations, disasters, market fluctuations causing destabilization of rates of cobalt and palladium, etc. These locations have high deposits potential and high success rate. Cengage learning. Any Additional requirements that you specify. This technique is important as this will help in evaluating the present strengths, weakness, opportunities, and threats 21C Metal Incorporation is facing in its present business environment (Zeschky, et.al, 2014).
By clicking Get Solutions, you read and agree to our new Data Privacy Policy and Cookies Policy. The threat of new entrants is zero since the expenditure and risks in this sector are huge.
With the rise in the demand for cars and stability in the economy of Canada and Europe, the profits of the company are growing. Governments of the countries are providing subsidies to encourage EVs. Boone, L.E. A., (2019).
Being a new innovation no other company provides flying car. The threat of rising cost of exploration and raw-material, the threat of regulatory policies and government tax in diverse operational countries exists. Government regulations, rapidly changing market, and global recession are some threats to the company. Presence of any competitor might impact the sales of 21C Metals if it is depending on the referral marketing strategy only as it would leave the marketing plan open to chance. Next, comes setting up the marketing budget and getting all the task within the budget. The implementation plan is strongly impacted by organizational resources and objectives, competitor activities, market structure, and willingness of 21C Metals to undergo changes. Strategic marketing management. The availability of the product in the market will help the company to sustain longer since the consumers will not have to wait long to purchase the product. J., (2018). After understanding these issues, it makes efforts to rectify them at the earliest and market these efforts to build a long-lasting relationship with its clientele. As per the plan, the company will use the digital media o promote their product and spread awareness among the consumers (Phil and Jim, 2010). and Kurtz, D.L., 2013. From cost to frugal and reverse innovation: Mapping the field and implications for global competitiveness. Majority of the sources of the company present a disconnected marketing story and strategy. Standstill prices of Cobalt from a very long time is one of the major concerns for the company. Routledge. In case of control, the customer feedback and personnel feedback will be asked for. It is using its market intelligence services in order to have a better insight into the target market and build an effective market positioning strategy (Leff, et.al, 2014). The second is tactical planning which has many sub-elements. In case any user is found misusing our services, the user's account will be immediately terminated. The internal feedback mechanism has to be built by the company directly from the sales team on the ground of countering the challenges. In addition to this, there are other factors also, such as losses faced by the company due to environmental regulations and constraints. The implementation plan begins with a marketing audit which would be do focusing on reviewing the firm's existing objectives, performance, strategies, and its strength and weaknesses. It is a fact that sales in mining start with marketing. The contribution of the industry to the economy is overvalued by the politicians and there is a flatter economy in the resource sector. The company is using some revolutionized techniques and machines to change the procedures for exploration and increase the productivity of the company that would ultimately lead to better earning and high profitability (Looand Leung, 2016). With the signals investors are getting from these two markets, it seems that there is a high potential for the marketers and investors. The organization is listed in the Canadian Securities Exchange (CSE). In other words, the vision statement is "to grow shareholder value by exploration, mining, and development with the main focus on Cobalt and Palladium.
A., (2019). Figure 2: Mission Statement of the company, Set 3 marketing objectives and 3 financial objectives achievable within the first 6 months of the product launch. The advantage of the competitors can be diluted due to market development, and it will enable the company in increasing its competitiveness in comparison to the other competitor industries. The second strategy is the referral. DeLorean Aerospace. In recent time, the investors are turning back to Ontario as it is offering high ROI and other benefits to them while they invest in Cobalt and Palladium. The company has made expertise at entering new markets and making a success of them. Another positioning strategy is to reduce time in the market. View All. However, the company is facing problems in dealing and collecting data regarding the clients. Creating successful price and placement strategies for social marketing. Harlow: Financial Times Prentice Hall. Retrive from https://www.myassignmenthelp.net/sample-assignment/marketing-plan, "Subject." The company is making a large number of benefits like increasing its reputation and market presence in the exploding industry of Canada by making use of videos, blogs, case studies, white papers, etc. The availability of the substitutes is low since the companies do not want to take high risks. 'Subject'(My Assignment Help,2022)https://www.myassignmenthelp.net/sample-assignment/marketing-plan accessed 21/07/2022. This has resulted in sustained revenue threat due to the global economic scenario. Strong management of operation and expertise in the exploration field. Being a Canadian exploration company and listed in the Canadian Securities Exchange (CSE), the company is pretty much committed to explore, operate, and develop exploration projects within world-level mineral provinces with a prime focus on Cobalt and Palladium. This increase in the demand of automobile has created a wide range of opportunities for the exploring industries and mining sector. 21C Metal Incorporation is one of the leading companies of the exploration industries. It was determined that the investment in the field of exploration depends on the demand-supply of the elements in the market. J., (2014). The company has a high rate of attrition in the workforce in comparison to the other companies and has to spend a lot more on training and development of employees. Leveraging strong financial position of the company. The total marketing budget for the company is $25900. Gathering customers will be difficult because the product is priced high. The former metal is widely used in the internal combustion engines for converting catalytic converters and the latter is used in automobile batteries and heavy vehicles batteries. Marketing budget will help the marketing manager of 21C Metal incorporation Company sticking to the plan and avoiding unanticipated costs, thus reducing the overspending possibility. 21C Metals formerly called Declan Cobalt Inc. is one of the leading exploration enterprises in Canada that aims at exploring production grade metals deposits that are highly demanded by modern and future automobile industry. With its personalized services, the company can be able to build a long lasting relationship with the customers. [Online]. The first and foremost thing in the market is to survive the strict competition. In Ontario, Canada, the competition for the company is very serious and this has put tremendous pressure on the company to control its rates. The company is acquiring new exploration sites after deep research for future expansion. 2) Governmental factors, such as political risk and fiscal regime. The metal is an important part of modern technology-based lifestyles. Identify successful sales and Marketing strategies that affect customer loyalty in a small coffee shop. MARKETING CONCEPTS.
3) Financial and geological aspectshaving indicators of potential development and exploration cost and organisations short-term cash flow. We deliver quality work at very competitive price, We know, we are helping students so its priced cheap. Disclaimer : New Assignment Help provides custom written papers to assist students in research, writing and proofreading process. Our support team and experts are available 24x7 to help you. With the use of the SWOT matrix, 21C Metal Incorporation can identify the strategies for exploiting the external opportunities, eradicating its weakness, building the strengths of the company and exploiting the counter threats (Kumar, & Rathore, 2015). Development, production, and exploration of mineral resources properties in different regions. and Vadivelu, T., 2016. The elevator pitch had been provided for the investors to understand the company's operation in a better way. Social marketing: Influencing behaviors for good. Based on the market demand, investors would show interest in investing in the company. There is a large target market for the company in Canada and Europe. The structure of the organization is only compatible with the present model of business which limits the expansion in adjacent segments product.
(Eds.). Marketing budget plan will keep the entire team of the company to be focused on the specific goals as for the whole company it is the critical resource (Turnbull, & Paliwoda, 2012). After the determination of the marketing plan and total annual budget, the budget is aligned with the marketing goals. It was determined that the company's main focus is on increasing the value of shareholders' profit by exploring and development while keeping the main focus on Cobalt and palladium. The Role of Human Resource Management in Organizations. For instance, they can advertise their products in business magazines and newspapers.
SWOT analysis refers to the strategic planning tool which can be used by the 21C Metal Incorporation managers for doing the situational analysis of an organization. Chen, H. (2016, May). The company has the majority of its exploring operations in Canada and the Czech Republic. The company has numerous strengths which will enable the company to thrive in the market. The former method works by measuring the total revenue generated by the firm and the latter is concerned about the costs of making profits. [Online]. Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. Since the cost is usually not in control of the company due to large uncertainties in the mining operations at the site (Osterwalder, et.al, 2014). However, the company with its R&D is carrying out market research and determining the right prices for the products (Looand Leung, 2016). The European and Canadian Cobalt market is strongly competed by the industries located in the Democratic Republic of Congo. N., (2019). In the case of making any new client join the network, this method is not very much famous. In the implementation plan, various stages of implementing the marketing plan and their importance had been discussed. For that purpose, feedback is very important to monitor. The suppliers will have high bargaining power since there will not be many companies supplying products for a flying car. An overview of all the costs is made clear which is associated with carrying out of the marketing activities. This is the reason why their market share depends purely on the quality and quantity of the products and their timely delivery (Khan, 2014). Furthermore, it is important that it should include a feedback system in order to understand the doubts and problems clients are facing. Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Present action programs designed to achieve the marketing and financial objectives.
Talking about the palladium market, the demand for palladium is continuously growing in the domestic as a well international market of Canada as well in Europe. Marketing plan competition for experiential learning. Understanding the local competition is crucial for gaining the client's loyalty but it is a very complex task and might not be very easy for the company due to lack of useful information and data. In order to keep the company profitable and sustainable, management is shifting to remote locations in Europe, Canada, and up to some extent to the South African region with its mining and exploring infrastructure.
This has put pressure on the sales and profitability of the company. Poor communication across stakeholders, schedule, and regular constraints, business interruptions, risk management, a deficit of current innovation are the weak points the company suffers from (Kumar, & Rathore, 2015). How to write a marketing plan(Vol. The target audience is high income group people and rich businessmen and hence, the promotional tools have to be chosen accordingly (Thackeray and McCormack Brown, 2010). Regulatory defamation, and policies regarding the health of employees poses the future operations threats, the existence of intervention threat by NGO and international organizations over violations of human rights causing an ecological disturbance. In addition to this, it is important to be formed after a proper analysis of the business environment both internal and external.
Another thing that is a part of a market positioning strategy is understanding the impact of regulations that are affecting the operations of the company in Canada and other parts of Europe. 21 C Metals has a high reputation in the market. Civi, E. and Persinger, E.S., 2011. The Canadian economy is considered as the primary factor for the rising demand for automobiles in the country. Taghian, M., 2010. In order to increase the profit margin the company needs to target high income customers along with mass production of the model. The first is selling by building trust. Once the marketing plan is implemented, it is important for the manager to ensure that it works effectively. In case the budget limit is exceeded, then the strategic planning might not be very effective. The core competencies of an organization can prove successful in another field of products. Once the site is handed over to the mining companies, they mine and sell the cobalt and palladium in market. This would drive up the price of Cobalt from current standstill position. [online] Available at: http://www.deloreanaerospace.com/about.html [Accessed 20 Sep. 2017]. Talking about the positioning strategy of the company, it is focusing on local market competition and governing the projects as per the regulations. The website does not provide ghostwriting services and has ZERO TOLERANCE towards misuse of the services. Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). 21C Metals can make use of two parameters for measuring the performances, namely sales analysis and marketing cost analysis. The company aims to provide best quality engineering and elegant designs to the customers apart from ensuring safety and free access to the airports. The vision of the 21CMetals is to lead the metal exploration industry with a prime focus on creating value within Europe and Canada through a vertically integrated business model. Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). McDonald, M. and Wilson, H., 2016. Process Identification for Customer Service in the field of the After Sales Service as a Basis for Lean After Sales Service. Mining companies are very much effective in providing their services and products in the market to their existing clients. Grnroos, C. (2013). Lee, N.R. The company is making use of its long-term and well-trusted relationships with the clients in order to make them loyal and satisfied (Khan, 2014). Vaa, K. and ern, ., 2012. This property benefits from surface trenching, drilling, and some geophysics that are full of some precious minerals and metals. [Online]. The targeted market sales will help the company to understand whether their implementation procedure and overall plan was a success or not. This has increased the investment in the Canadian and European market. According to the Northern Prospectors Association, over a dozen investors have come to invest in the Canadian town.
and Ronkainen, I.A., 2013.International marketing. Available from: https://www.myassignmenthelp.net/sample-assignment/marketing-plan. The optimal USP of the company should be created; intermediaries and sales force should apply it effectively for increasing sales in the global market and for increasing brand awareness. In addition to this, it is connecting with its existing and potential customers and leveraging its leads from the credibility it has created. For achieving the marketing objective of increasing the product awareness in the market, the company will have to select and use the suitable promotional tools and techniques. The DRC remains one of the favorable locations for the global investors but due to deterioration of the investing climate caused by the strategic alliance. The budget is a significant part of the marketing plan. These methods do not need any type of marketing. A SWOT analysis of the company has been done that helped in identifying the weaknesses of the company. All that is required from the company to manage its distribution channels properly and effectively. Since the business is B2B, the company is focusing on strengthening its pull strategies by directing its efforts to fulfill the demands of the clients which in this case are automobile companies (Solomon, et.al, 2014).
In addition to this, it also analyse and estimate the overall resource after carrying out further exploration. Discuss the implementation and control of the marketing plan. Kumar, N., & Rathore., (2015). According to Khan (2014), Government regulation and universal environment of demand and supply of the exploration product affect the investment in Canada and Euorpe from perspective of investors. How to Write a Unique Selling Proposition (USP). and Leung, R., (2016). Loo, P.T. Khan, M.T., (2014). It deals in drilling, geophysics, and surface trenching for determining or exploring Cobalt and Palladium rich sites or zones. (2014). The SWOT analysis framework facilitates the organization in identifying the internal strategic factors that are the strength and weakness of the company and the opportunities and threats which are the external strategic factors. (2012). It was mentioned that the company's mission is to explore different sites where Cobalt and palladium are found and maximize the profits of shareholders. The communication systems that will be used by the company to co-operate with the other officials should be well planned so that all the information is passed on without any chances of misinterpretation (Boone and Kurtz, 2013). A financial road map is provided by the marketing budget and it reduces the risks. The client wants the best quality at a low price. The opportunities in the European marketing for dealing with stocks. 21CC Metal Incorporation has various unique selling propositions including-. Turnbull, P. W., & Paliwoda, S. J. Majority of deals of 21C Metals are based on referral schemes and the wide network formed in the past. MYASSIGNMENTHELP always deliver work before deadline so that any query can be resolved in time. However, they are not very good at marketing themselves. It was founded on August 24, 2005, as per the laws of British Colombia. It was identified that the company failed to work in collaboration with other firms having a different culture. Palgrave Macmillan. The other is the referral system and the last one is building a relationship by advising clients. The people involved in the implementation procedure will be providing feedback and overlooking the entire process to ensure that the project is a success. [Online]. (2014). Therefore, Cobalt demand would boom in near future. In the past few decade, there have been a multitude of exploration discoveries in Canadian and European sites that have instigated the investment.In addition to this, the investment in the field of exploration depends upon three strategic factors. Drop an Email - support@myassignmenthelp.net with Payment ID to collcet the Solved Document. Marketing strategy and management. Sage. The concept of'marketing mix and its elements (a conceptual review paper). However, in the past few years, the instability in the cobalt market of DRC has forced the investor to look more reliable and better cobalt producing markets. Zeschky, M. B., Winterhalter, S., & Gassmann, O. References are good but they are not the best method for marketing in the marketing of Cobalt and Palladium where quality and quantity matter the most. The development of new technologies by the market disrupter or the competitor can impose a serious threat to the industry in its long term future. The bargaining power is low as this is the only company in the market supplying DR-7 product. More stability can be brought in the market with a low rate of inflation. One of the financial objectives of the company is to, To manufacture and launch the product, the company has taken capital from many investors. Customers can get credit at the low-interest rates. The marketing audit as a method of the evaluation of the marketing plan. The company is aiming at becoming the well-respected Cobalt and Palladium producer while delivering high values to the shareholder in an ethical way. Marketing planning: Operationalising the market orientation strategy. They might take away the clients by offering a better alternative. The report ended after discussing the implementation plan and after sale strategy for the company. Hence, another financial objective of the company is to. More investments are required to be made in the new technologies for integrating the process across the board. Phil, M. and Jim, B., 2010. Czinkota, M.R. and Gilligan, C., 2012. Its market research is helping in developing an effective and useful market entry strategy. This report discussed the marketing plan for Declan Cobalt Inc. which is an exploring firm and they sell the stocks to the mining companies. Highest ranking executive in the marketing team, Make major decisions related to the marketing, Manage the resources and operations of the team, Examines the long and short term needs of the marketing, Capital utilization for making investments, Creating and developing new innovative ways of communicating the message of the company to the customers, Creating a conducive working environment (Bianca, 2019). General Motors, Volvo, Honda and other car companies are investing hugely in electric cars, thereby creating a large demand of Cobalt in the international market. The number of players has got increased over the last two years due to the stable profitability in the industry. Journal of marketing management,26(9-10), pp.825-841.
Continuing to invest in local communities as the prime value of the business. The first and foremost strategy is 'sell by building trust'. These assignments are for assistance purposes only and students are suggested to use them as guide papers only in order to avoid any sort of law violation of the university or education sector. Baker, M.J., 2014. The SWOT analysis revealed that the company has poor communication among stakeholders, poor organization, and reluctant behavior towards other firms to collaborate.
The demand for palladium in the automotive sector has doubled in the past 10 years. However, the company is still lagging in some field when it comes to tech-enabled changes in real time. The learner has discussed the steps of developing a strategic plan and has also analyzed the market by using SWOT and Porters Five Forces Analysis. (2017). These include global recession, regulations, disasters, market fluctuations causing destabilization of rates of cobalt and palladium, etc. These locations have high deposits potential and high success rate. Cengage learning. Any Additional requirements that you specify. This technique is important as this will help in evaluating the present strengths, weakness, opportunities, and threats 21C Metal Incorporation is facing in its present business environment (Zeschky, et.al, 2014).
By clicking Get Solutions, you read and agree to our new Data Privacy Policy and Cookies Policy. The threat of new entrants is zero since the expenditure and risks in this sector are huge.
With the rise in the demand for cars and stability in the economy of Canada and Europe, the profits of the company are growing. Governments of the countries are providing subsidies to encourage EVs. Boone, L.E. A., (2019).
Being a new innovation no other company provides flying car. The threat of rising cost of exploration and raw-material, the threat of regulatory policies and government tax in diverse operational countries exists. Government regulations, rapidly changing market, and global recession are some threats to the company. Presence of any competitor might impact the sales of 21C Metals if it is depending on the referral marketing strategy only as it would leave the marketing plan open to chance. Next, comes setting up the marketing budget and getting all the task within the budget. The implementation plan is strongly impacted by organizational resources and objectives, competitor activities, market structure, and willingness of 21C Metals to undergo changes. Strategic marketing management. The availability of the product in the market will help the company to sustain longer since the consumers will not have to wait long to purchase the product. J., (2018). After understanding these issues, it makes efforts to rectify them at the earliest and market these efforts to build a long-lasting relationship with its clientele. As per the plan, the company will use the digital media o promote their product and spread awareness among the consumers (Phil and Jim, 2010). and Kurtz, D.L., 2013. From cost to frugal and reverse innovation: Mapping the field and implications for global competitiveness. Majority of the sources of the company present a disconnected marketing story and strategy. Standstill prices of Cobalt from a very long time is one of the major concerns for the company. Routledge. In case of control, the customer feedback and personnel feedback will be asked for. It is using its market intelligence services in order to have a better insight into the target market and build an effective market positioning strategy (Leff, et.al, 2014). The second is tactical planning which has many sub-elements. In case any user is found misusing our services, the user's account will be immediately terminated. The internal feedback mechanism has to be built by the company directly from the sales team on the ground of countering the challenges. In addition to this, there are other factors also, such as losses faced by the company due to environmental regulations and constraints. The implementation plan begins with a marketing audit which would be do focusing on reviewing the firm's existing objectives, performance, strategies, and its strength and weaknesses. It is a fact that sales in mining start with marketing. The contribution of the industry to the economy is overvalued by the politicians and there is a flatter economy in the resource sector. The company is using some revolutionized techniques and machines to change the procedures for exploration and increase the productivity of the company that would ultimately lead to better earning and high profitability (Looand Leung, 2016). With the signals investors are getting from these two markets, it seems that there is a high potential for the marketers and investors. The organization is listed in the Canadian Securities Exchange (CSE). In other words, the vision statement is "to grow shareholder value by exploration, mining, and development with the main focus on Cobalt and Palladium.
A., (2019). Figure 2: Mission Statement of the company, Set 3 marketing objectives and 3 financial objectives achievable within the first 6 months of the product launch. The advantage of the competitors can be diluted due to market development, and it will enable the company in increasing its competitiveness in comparison to the other competitor industries. The second strategy is the referral. DeLorean Aerospace. In recent time, the investors are turning back to Ontario as it is offering high ROI and other benefits to them while they invest in Cobalt and Palladium. The company has made expertise at entering new markets and making a success of them. Another positioning strategy is to reduce time in the market. View All. However, the company is facing problems in dealing and collecting data regarding the clients. Creating successful price and placement strategies for social marketing. Harlow: Financial Times Prentice Hall. Retrive from https://www.myassignmenthelp.net/sample-assignment/marketing-plan, "Subject." The company is making a large number of benefits like increasing its reputation and market presence in the exploding industry of Canada by making use of videos, blogs, case studies, white papers, etc. The availability of the substitutes is low since the companies do not want to take high risks. 'Subject'(My Assignment Help,2022)https://www.myassignmenthelp.net/sample-assignment/marketing-plan accessed 21/07/2022. This has resulted in sustained revenue threat due to the global economic scenario. Strong management of operation and expertise in the exploration field. Being a Canadian exploration company and listed in the Canadian Securities Exchange (CSE), the company is pretty much committed to explore, operate, and develop exploration projects within world-level mineral provinces with a prime focus on Cobalt and Palladium. This increase in the demand of automobile has created a wide range of opportunities for the exploring industries and mining sector. 21C Metal Incorporation is one of the leading companies of the exploration industries. It was determined that the investment in the field of exploration depends on the demand-supply of the elements in the market. J., (2014). The company has a high rate of attrition in the workforce in comparison to the other companies and has to spend a lot more on training and development of employees. Leveraging strong financial position of the company. The total marketing budget for the company is $25900. Gathering customers will be difficult because the product is priced high. The former metal is widely used in the internal combustion engines for converting catalytic converters and the latter is used in automobile batteries and heavy vehicles batteries. Marketing budget will help the marketing manager of 21C Metal incorporation Company sticking to the plan and avoiding unanticipated costs, thus reducing the overspending possibility. 21C Metals formerly called Declan Cobalt Inc. is one of the leading exploration enterprises in Canada that aims at exploring production grade metals deposits that are highly demanded by modern and future automobile industry. With its personalized services, the company can be able to build a long lasting relationship with the customers. [Online]. The first and foremost thing in the market is to survive the strict competition. In Ontario, Canada, the competition for the company is very serious and this has put tremendous pressure on the company to control its rates. The company is acquiring new exploration sites after deep research for future expansion. 2) Governmental factors, such as political risk and fiscal regime. The metal is an important part of modern technology-based lifestyles. Identify successful sales and Marketing strategies that affect customer loyalty in a small coffee shop. MARKETING CONCEPTS.
3) Financial and geological aspectshaving indicators of potential development and exploration cost and organisations short-term cash flow. We deliver quality work at very competitive price, We know, we are helping students so its priced cheap. Disclaimer : New Assignment Help provides custom written papers to assist students in research, writing and proofreading process. Our support team and experts are available 24x7 to help you. With the use of the SWOT matrix, 21C Metal Incorporation can identify the strategies for exploiting the external opportunities, eradicating its weakness, building the strengths of the company and exploiting the counter threats (Kumar, & Rathore, 2015). Development, production, and exploration of mineral resources properties in different regions. and Vadivelu, T., 2016. The elevator pitch had been provided for the investors to understand the company's operation in a better way. Social marketing: Influencing behaviors for good. Based on the market demand, investors would show interest in investing in the company. There is a large target market for the company in Canada and Europe. The structure of the organization is only compatible with the present model of business which limits the expansion in adjacent segments product.
(Eds.). Marketing budget plan will keep the entire team of the company to be focused on the specific goals as for the whole company it is the critical resource (Turnbull, & Paliwoda, 2012). After the determination of the marketing plan and total annual budget, the budget is aligned with the marketing goals. It was determined that the company's main focus is on increasing the value of shareholders' profit by exploring and development while keeping the main focus on Cobalt and palladium. The Role of Human Resource Management in Organizations. For instance, they can advertise their products in business magazines and newspapers.
SWOT analysis refers to the strategic planning tool which can be used by the 21C Metal Incorporation managers for doing the situational analysis of an organization. Chen, H. (2016, May). The company has the majority of its exploring operations in Canada and the Czech Republic. The company has numerous strengths which will enable the company to thrive in the market. The former method works by measuring the total revenue generated by the firm and the latter is concerned about the costs of making profits. [Online]. Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. Since the cost is usually not in control of the company due to large uncertainties in the mining operations at the site (Osterwalder, et.al, 2014). However, the company with its R&D is carrying out market research and determining the right prices for the products (Looand Leung, 2016). The European and Canadian Cobalt market is strongly competed by the industries located in the Democratic Republic of Congo. N., (2019). In the case of making any new client join the network, this method is not very much famous. In the implementation plan, various stages of implementing the marketing plan and their importance had been discussed. For that purpose, feedback is very important to monitor. The suppliers will have high bargaining power since there will not be many companies supplying products for a flying car. An overview of all the costs is made clear which is associated with carrying out of the marketing activities. This is the reason why their market share depends purely on the quality and quantity of the products and their timely delivery (Khan, 2014). Furthermore, it is important that it should include a feedback system in order to understand the doubts and problems clients are facing. Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Present action programs designed to achieve the marketing and financial objectives.
Talking about the palladium market, the demand for palladium is continuously growing in the domestic as a well international market of Canada as well in Europe. Marketing plan competition for experiential learning. Understanding the local competition is crucial for gaining the client's loyalty but it is a very complex task and might not be very easy for the company due to lack of useful information and data. In order to keep the company profitable and sustainable, management is shifting to remote locations in Europe, Canada, and up to some extent to the South African region with its mining and exploring infrastructure.