Intergrated Communication MBA assignment
- 1. MBA INTEGRATED COMMUNICATION BUS1704 Presented by : B. N. Weerasekera Student ID : 19004682
- 3. INTRODUCTION • Discusses the integrated marketing communication Strategies for Hayleys Group based on the internal and external environment forces. • Assess the influences from the stakeholders to the Hayleys Group. • Evaluate the pros and cons of existing marketing strategies and communication methods based on the requirements of the target market customers of Hayleys Group.
- 4. SITUATION ANALYSIS • Instability of government decisions and poor fiscal policy with Sri Lanka government. • Higher inflation rate reduces the purchasing power of the people and higher interest rate limits the borrowing power. • People requirements are changing rapid with respect to the changes in their perceptions and attitudes.
- 5. SITUATION ANALYSIS • Development of technology environment factors simplify the business operations and promote the online marketing. • Green business concept limits the negative implications to the nature from business activities. • Hayleys Group has to comply with the legal compliances and conditions which are imposed by Sri Lanka Export Board.
- 6. COMPETITIVE ANSLYSIS • There is higher rivalry for Hayleys Group and operating in an oligopoly market structure in Sri Lanka. • Hayleys Group has protected their competitive position in the market with proper customer relationship management process. • Business decisions of other competitors directly impact to Hayleys Group and vise versa.
- 7. MARKETING MIX • Competitive pricing strategy and change the prices of products based on the purchasing power of the people. • Hayleys Group consider on two types of pricing strategies such as cost based pricing strategy and premium pricing strategy. • The main distribution method for the distribution of export products among the target market customers is direct marketing with the support of relevant country representatives.
- 8. MARKETING MIX • Hayleys Group has two types of marketing methods such as offline marketing and online marketing. • Online promotional activities are executed based on the social media platform and email marketing techniques. • Export products of Hayleys Group have been determined and designed based on the requirements and expectations.
- 9. SWOT ANALYSIS • Strong brand reputation among the local and international customers is considered as the main strength to Hayleys Group. • Hayleys Group has business connections with the multi- destination portfolio and different locations in Sri Lanka. • There is no proper follow up process to get the negative or positive feedback from the customers.
- 10. SWOT ANALYSIS • External environment is anticipated boom in Sri Lanka and Maldives export industry after the end of covid-19 situation. • Review the existing export industry in Sri Lanka the main threat is covid-19 situation and it has stopped the export industrial activities. • Demographic changes in the profiles of travelers is considered as another threat to ensure the effectiveness of the overall export industrial services.
- 11. MARKETING OBJECTIVES • Hayleys Group is to increase the annual revenue to LKR 100 billion from current LKR 75 billion within next three years period. • Increase the production capacity by 25% within next three years periods. • Increase the customer’s portfolio of Asian region by 10% more within next two years period. • Within next three years period it is expected to establish new 20 countries representatives in different Europe region countries.
- 12. MARKETING OBJECTIVES • Increase the customer’s portfolio of Asian region by 10% more within next two years period. • Within next three years period it is expected to establish new 20 countries representatives in different Europe region countries.
- 13. MARKETING PROBLEMS • Covid-19 situation has created barriers between International clients to connect and maintain the business relationships. • Marketing activities of country representatives have been stopped due to the Covid-19 situation. • Lack of familiarity with offline marketing approaches by young population.
- 14. MARKETING OPPORTUNITIES • Increases the time consumption of the people to use the social media. • Increase of marketing demand for organic agricultural products. • Availability of customer relationship management methods to get the customers’ feedback real time basis.
- 15. ANALYSIS ON EXISTING COMMUNICATION PLAN • Hayleys Group is using both online and offline marketing strategies to communicate with the customers. • Direct marketing with the support of countries representatives is the main offline marketing approach to communicate with international clients. • Hayleys Group use online marketing methods such as promotions through social media which have been practicable applied to communicate and connect with new and existing customers.
- 16. ANALYSIS ON EXISTING COMMUNICATION PLAN • Recommend to allocate more financial resources and time of Hayleys Group to execute the online marketing strategies. • Hayleys Group can involve in CSR activities of covid-19 situation which can be used as an indirect marketing approach.
- 17. DEVELOPMENT OF COMMUNICATION PROGRAMS • Marketing communication plan should be analyzing the environment in local and international market to find out the Strategies and approaches to identify most suitable communication mode. • Hayleys Group should develop the communication goals which need to be addressed from the communication plan. • Marketing Communication plan should be developing in the communication strategies.
- 18. DEVELOPMENT OF COMMUNICATION PROGRAMS • Communication mix should be determined considering the sales and marketing objectives of the Hayleys Group and future strategic plan. • Marketing communication activities should be implemented considering the resource allocation and timeline scheduling to achieve the objectives of marketing communication. • Performing the variance analysis compare in the expected outcome and actual outcome of the marketing communication process.
- 19. CROSS FUNCTIONAL RELATIONSHIP TECHNIQUES • Corporate management strategies and functional management strategies of Hayleys Group should be planned and executed based on the legal compliance requirements of Sri Lanka Export Board. • Branding activities of Hayleys Group are executed with the support of event management companies in Sri Lanka. • Take appropriate actions to settle the outstanding payments for respective event management suppliers to ensure the proper business relationships.
- 20. CROSS FUNCTIONAL RELATIONSHIP TECHNIQUES • Financial resource management should be performed with the directions of bankers and financial institutions. • Raw materials suppliers related relationship management is important the ensure the continuation of the business process.
- 21. CONCLUSION • Marketing communication activities and functions of Hayleys Group should be planned and executed with proper understanding on social environment and economic environment behavior in international market. • Integrated Marketing Communication plan for Hayleys Group it is recommended to use the existing strengths and opportunities.
- 22. RECOMMENDATIONS • Recommend to link the new technology with the marketing communication process. • Integrate the communication strategies with the change management strategies to update the communication plan with respect to the changes in the environmental factors.
- 23. REFERENCES • Bormane, Santa & Šķiltere, Daina. (2018). Integrated Marketing Communication as a Business Management Tool in the Context of Sustainable Development. Open Economics. 1. 115-123. 10.1515/openec-2018-0005. • Camilleri, Mark. (2017). Integrated Marketing Communications. 10.1007/978-3-319-49849-2_5. • Embuldeniya, Apeksha & Rajapaksha, Waneesha. (2015). The Significance of Export industrial in Sri Lankan Economy. 1. 25 - 37. • Fernando, Sriyantha & Bandara, Jayatillake & Smith, Christine. (2015). Export industrial in Sri Lanka. 10.13140/RG.2.1.4802.1200.