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Project Title:
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A Critical
Investigation on the Marketing Plans of Gulf International Tensile Company –
GITCO, Oman |
Abstract/ Summary: of A Critical
Investigation on the Marketing Plans of Gulf International Tensile Company –
GITCO, Oman
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Project Background: of A Critical Investigation on the Marketing Plans of
Gulf International Tensile Company – GITCO, Oman The study and
practice of marketing have broadened considerably, from an emphasis on
marketing as a functional management issue, to a wider focus on the strategic
role of marketing in overall corporate strategy and include strategic as well
as operational decisions, has resulted in an overlap between marketing and
strategic management. Managers recognized the increasing importance for the
firm to develop marketing strategies to compete effectively in Oman markets.
Deduction from existing literature enabled a
construction of a conceptual model that explains overall firm performance.
Promotion, pricing, distribution, and product standardization and adaptation
have an impact on sales, customer and financial performance of GITCO. The
study suggests that the impact is mediated by marketing strategy
implementation success. At the same time the impact of moderating factors of
product homogeneity, stage of product life cycle and competitive intensity
are present. The study intends to define the firm’s marketing strategy as the
development of and decisions about a GITCO relationships with its key
customer and clients. Introduction of A Critical Investigation on the Marketing Plans of
Gulf International Tensile Company – GITCO, Oman
Gulf International Tensile
L.L.C is one of the growing manufacturing company and biggest in the eastern
part of the region of Oman which is highly equipped and skilled in the area
of tension structures and shaping large areas in ISO 9001. It has a highly
experienced and modern technique-based quality team, with one of the most
advanced manufacturing and processing technologies associated with efficient
projects and quality control. It has unique development of high calibre
materials and products based on many years of GITCO journey. With such kind of a big infrastructure,
GITCO have adopted different marketing techniques in order to seek business.
They have given better fare rates to the consumer to gain some space in the
market and during the early times they have fulfilled the vacuum by exploiting
their professionalism in the market which has provided them great turnover.
They have used the image of their big clients in order to achieve more
business around the Gulf which has been the key in the development of the
company. GITCO is now competing with China and Turkish markets and local competitors
who are expected to hold the leading position in the current tester market.
GITCO have worked very closely on random discounting by temporarily reduce
their prices on unsystematic basis. The marketing team keeps a close eye on
new product pricing which is a necessary part of formulation as it includes
the study of market condition and other economic factors. In general, marketing
plans are considered an important part of every firm to ensure customer
attraction and sales of products. In fact, recent studies have determined for
selling services to customers, it is necessary for the marketing plan to be
effective. If it is not effective, there is a significant likelihood that a
company will not get the desired results and response from customers. In
addition to it, when it comes to the evaluation of the efficiency of a firm
in the market, its marketing plan is analysed thoroughly and that is one of
the main reasons why the marketing plans of GITCO will be discussed and
evaluated in this research. Still, they are using traditional plan and we are
interested to developing their marketing plans in our research. Besides, they
are also facing some issues in marketing department which this study intends
to address and analyse. All the marketing plans
adopted by the firm will be discussed in this research and it will clarify
the reasons why decisions about changing marketing plans and techniques have
been made by GITCO in their previous marketing operations. The research will be
based on results concluded from statistical data analysis. The data collected
from the selected research samples will be analysed using statistical tool to
find reliable and valid answers of research questions. This is the third
sections of the research study that will explain about the research methods
that will be used in collecting and analysing data collected for the study.
These research methods will consider both the qualitative and quantitative
methods. This chapter will also explain the sources of data for the study
which are the primary and secondary sources of data collection. It is
expected that this research will highlight all the marketing plans and
strategies which have been utilised by GITCO along with the reasons
underlying it. It will also determine whether the decisions proved to be
effective for the firm or not. After the completion
of this research project, we would be able to demonstrate the critical evaluation
of marketing plans developed by the GITCO and other companies of Gulf
Countries assessed in this research study. Moreover, another research project
outcome is a clear understanding of the factors contributing to the success
of a marketing plan in an organization. The research will found and evaluate
the contribution of different factors concerning with the success of
marketing plans in the gulf countries. Additionally, the research study will
demonstrate the marketing plans implementation systems and processes in the
selected companies. After this research project, we will be able to recommend
the most suitable policies and strategies for the companies to ensure a
successful implementation of their marketing plans.
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Literature Review of A Critical
Investigation on the Marketing Plans of Gulf International Tensile Company –
GITCO, Oman
Evaluation
of Marketing Plans:
According to a book written by Ian Linton (2012), companies developing
marketing plans to promote their products and services in the targeted market.
The marketing plan includes information about allocated marketing budget,
suggested activities for marketing, to be used resources (including time
resources and workforce), and organizational goals regarding marketing and
promotion. Following the information of this book, a marketing plan becomes
successful when it includes realistic information and specific details. The
prime objective of a marketing plan is to educate the targeted audience
therefore organizations should add appealing content in the marketing messages
to grab attention and spread awareness (Linton, 2012).
Measurement
of Success of a Critical Investigation on the Marketing Plans of Gulf
International Tensile Company – GITCO, Oman
According to the research
study, marketing effectiveness is must require outcome for the organization
working in the highly competitive environment of Gulf countries. Organizations use
different mechanisms and evaluation techniques to measure success of the
current marketing plans. Research work explain that marketing plans aligned
with the corporate goals are more successful as compared to the marketing plans
which are based on the unclear organizational goals (Solcansky & Simberova, 2010). Moreover, there is another author who has
given information about certain aspects of the marketing plan. For every firm,
whether small, medium, or large, marketing plans and strategies are considered
very important because they contribute significantly to the efficiency and
success of these firms in the market. Since marketing plans have the objectives
of advertising products and attracting customers, it is quite important for
these plans to be effective. Otherwise, firms can lose a lot of investment and
their efforts which they invest in the development of these marketing plans. In
this study, the aim is to analyse and evaluate the marketing plans of GITCO,
and the reasons why the firm considered them in the first place.
Components
and Elements of Marketing Plans of a Critical Investigation on the Marketing Plans
of Gulf International Tensile Company – GITCO, Oman
According to the research study of Singh (2012), marketing plans should
be aligned with the marketing mix of the company to ensure a competitive
advantage in the market. The marketing mix includes product, price, promotion,
and place selected for the new or existing products of an organization. A
marketing plan developed for the promotion of products and services includes
activities and tasks linked with penetration, cost-plus strategy, loss-leadership
strategy, advertising, personal selling, public relationship development,
direct marketing, and sales promotion. (Singh, 2012)
Suitable
Marketing Plans in Companies
According to the Beamish
(2012), which talked about the importance of marketing plan for the huge
companies, (2012 CIM Coursebook 03/04 Marketing Planning. s.l.:Routledge).According
to the tensile testing machine market. ("Tensile
Fabric Structures: The Ultimate Guide (New For 2018)". Info.collinson.co.uk.
Retrieved 2018-07-02) share the companies have been intact with their
development and have produced a better result in terms of yearly turnover. Gulf
international tensile have achieved more revenue in compare with last year due
to their fragile marketing skills which has helped them to get better wide
distribution services around the globe. With their better way of exposing their
professionalism and highly skilled work they have earned 17 OEM based contracts
in 2017 and managed 16 types of own brands.
Gulf international have
provided good outflow to the tensile industry and have introduced modern
marketing strategy into the market which includes promoting the company
products virtually and showcasing themselves in the testing market, due to
their large involvement in the market they have gain trust of the big companies
around the globe which is the most any company requires. The general interest
of this research work is to study this industry and collect information
regarding the marketing plans. Research will focus on critical analysis of
developed marketing plans in the company (Beamish, 2012).
In addition to it, this
study aims to analyse whether these marketing plans were effective in the
market or not. Another aim of this research is to analyse why GITCO made the
decision of changing its marketing plans.
The aim is to analyse
and evaluate the marketing plans of GITCO, and the reasons why the firm
considered them in the first place in terms of market share, potential
customer, profit rate and current market conditions in light of intense
competition, In addition to it, this study aims to analyse whether these
marketing plans were effective in the market or not. Another aim of this
research is to analyse why GITCO made the decision of changing its marketing
plans. This will show how the company can easily gain more profit for the
future (Cohen, 2005). The firm considered them in the first place in terms of
market share, potential customer, profit rate and current market conditions in
light of intense competition, In addition to increase the markets share and
build the brand value of our company and analyse our strength, weakness
opportunity and threats for the company.
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Aim of the Study:
For every firm,
whether small, medium, or large, marketing plans and strategies are
considered very important because they contribute significantly to the
efficiency and success of these firms in the market. Since marketing plans
have the objectives of advertising products and attracting customers, it is
quite important for these plans to be effective. Otherwise, firms can lose a
lot of investment and their efforts which they invest in the development of
these marketing plans. In this study, the aim is to analyse and evaluate the
marketing plans of GITCO, and the reasons why the firm considered them in the
first place. In addition to it, this study aims to analyse whether these
marketing plans were effective in the market or not. Another aim of this
research is to analyse why GITCO made the decision of changing its marketing
plans. the aim is to analyse
and evaluate the marketing plans of GITCO, and the reasons why The firm considered
them in the first place in terms of market share, potential customer, profit
rate and current market conditions in light of intense competition, In
addition to increase the markets share and build the brand value of our
company and. Analyse our strength, weakness opportunity and threats for the
company. The following are the research objectives are of A Critical Investigation on the Marketing Plans of Gulf International Tensile Company – GITCO, Oman:1- To make a critical evaluation of the marketing plans used by the
company. 2- To identify and evaluate the mechanisms
used to measure the success of the current
marketing plan. 3- To identify and evaluate the
components and current elements of the marketing
plan implemented by the company. 4- To make recommendations of the best
marketing plan suitable for the company. |
Project Outcomes of A Critical
Investigation on the Marketing Plans of Gulf International Tensile Company –
GITCO, Oman:
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For every firm, whether
small, medium, or large, marketing plans and strategies are considered very
important because they contribute significantly to the efficiency and success
of these firms in the market. Since marketing plans have the objectives of
advertising products and attracting customers, it is quite important for
these plans to be effective. Otherwise, firms can lose a lot of investment
and their efforts which they invest in the development of these marketing plans.
According to current
scenario of the market everyone wants to modern style in his/ her products so
our study mane focuses on analyze the customer need want and desire to
fulfill his/her requirements. For example, launched new design or customize
the design products for the customer and stabilized the long-term relationship with the clients. In this study, to analyze and evaluate the
marketing plans of GITCO, and the reasons why the firm considered them in the
first place whether these marketing plans were effective in the market or not?
And analyze why GITCO made the decision of changing its marketing plans. In these study
recommendations of the best marketing plan is digital marketing and
identifies which customer groups are most likely to purchase the company’s
products or services. They must gather enough information about each group to
understand what motivates these potential customers to make a purchase.
There are 4 huge
projected outcomes for this study which are enlisted below: 1)
The research study will provide information about
the outcomes of critical evaluation of marketing plans. The research will
explain what are the strengths and weaknesses of the marketing plans applied
with the selected companies in the Gulf Countries. 2)
The research work will demonstrate the
effectiveness and suitability of identified factors and mechanism for the
evaluation process. The research will explain how and what each mechanism
measure in the marketing plans of selected companies. 3)
After the completion of the research study, a
detailed document will present the identified and selected components and
essentials of marketing plans. What components make a marketing plan
successful or reduce its effectiveness? 4)
After the completion of the whole research
project, some recommendations would be presented that will make readers
capable to understand what strategies and components should be added in the
marketing plans to develop a successful marketing plan for the company. |
Why are you interested in the project?
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According to the
tensile testing machine market share the companies have been intact with
their development and have produced a better result in terms of yearly
turnover. Gulf international tensile have achieved more revenue in compare
with last year due to their fragile marketing skills which has helped them to
get better wide distribution services around the globe. With their better way
of exposing their professionalism and highly skilled work they have earned 17
OEM based contracts in 2017 and managed 16 types of own brands. Gulf
international have provided good outflow to the tensile industry and have
introduced modern marketing strategy into the market which includes promoting
the company products virtually and showcasing themselves in the testing
market, due to their large involvement in the market they have gain trust of
the big companies around the globe which is the most any company requires.
The general interest of this research work is to study this industry and
collect information regarding the marketing plans. Research will focus on
critical analysis of developed marketing plans in the company. And increase
the markets share and build the brand value of our company and analyse the
strength, weakness opportunity and threats for the company. The
key reasons for my interest in this research study are presented below. 1) Following my opinion, successfully developed
and implemented marketing plans are directly related to the increase in
profitability in an organization. However, literature and specifically
empirical research work available on this topic are very limited which lacks
important details about the macro and micro-environmental of Gulf Countries.
Therefore, this identified gap should be filled up with new research studies.
My research work will contribute to reducing this literature gap. 2) Another reason behind the interest in
this research work was the passion to study the effectiveness of marketing
plans in the Gulf countries. Critical evaluation of these marketing plans can
support in the identification of new strategies and components to increase
the worth of marketing plans as well as the probability of success in the
targeted market after implementation.
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What are the key questions the project attempts to answer?
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What research methods do you intend to use?
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The research design
of this research will be further explained in the chapter of methodology.
Still, a combination of positive and interpretive paradigm will be utilised
in this research. In addition to it, a combination of inductive and deductive
approaches will be utilised for performing this research. The reason why a
mixture of these two paradigms and approaches is used is because
individually, they leave some gaps in the research, which are addressed if a
combination is used. Other than these, both quantitative and qualitative
research methods will be used for collecting the necessary information. Research
Design of A Critical Investigation on
the Marketing Plans of Gulf International Tensile Company – GITCO, Oman: The research study is
based on descriptive research design. The research work is not only focused
on the statistical analysis of the outcomes as it also includes focus on the
qualitative research data analysis. Keeping this research work limited to a
descriptive research design we are capable to validate some hypothesis
developed on the basis of research questions. The descriptive research design
enables this research study to cover survey methods as well as observational
method (during the interview) to conclude a generalized opinion. For instance, in qualitative & quantitative research Literature reviews
will be conducted on the topic of marketing plans There are two
research methods which will be utilised including surveys and interviews. In
surveys, open-ended questionnaires will be used while in interviews, a
structure interview pattern will be considered. These methods will help in
performing the research and collecting the data needed for performing this
study. The population selected
for performing this research is 50 employees of GITCO including managers as well
as. And 100 number of population in Oman, Respondents
and
participants will be selected through random sampling technique as it is one
of the most reliable and frequently utilised sampling techniques. All the
participants and respondents will undergo survey and interviews. Once the data has
been collected, it will be analysed through SPSS and it will be determined
whether research questions have been answered in an effective manner or not.
DISCUSS
YOUR QUALITATIVE AND QUANTITATIVE RESEARCH METHODS Quantitative and Qualitative Research Methods The research methodology includes qualitative research and
quantitative research methods. The qualitative and quantitative research data
is obtained from utilizing various resources. To collect subjective
information or qualitative research data for primary data analysis we have
taken interviews of the selected research samples. Regarding this qualitative
research, the method is used. While on the other hand, the quantitative
research method is used in this project for the collection and analysis of
quantitative and numerical data by conducting a market survey. SURVEY QUESTIONNAIRE The survey questionnaire is used in the research work to obtain
quantitative research data from the primary resources. The survey
questionnaire would be consist of close-ended research questions. Some
selected options would be provided regarding each question to ensure appropriate
collection of quantitative data for statistical analysis. INTERVIEW COMPONENT The interview will have open-ended questions about the marketing
plans, components of marketing plans. And evaluation process for the
marketing plans to obtain realistic, valid and primary data.
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Data
collection
DATA
COLLECTION PROCESS
The research will
also collect qualitative information and research data from the relevant
research population by the use of interview technique. While questionnaires
will be distributed randomly among the selected research population. The data
collection process will pay specific attention to ethical considerations
regarding data collection and the prevalence of biases in the selection of the
samples.
DATA
ANAYSIS PROCESS – THE USE STATISTICAL SOIFTWARE
The data
analysis process will be accomplished by the use of statistical software in the
research work. A common statistical software SPSS (Statistical Package for the
Social Sciences) will be used to analyse collected quantitative research data
and represent visual and statistical outcomes of the research data.
The financial reports
of Gulf international tensile are used ranging from1997- onward (2019). It is
done for different quarters. For the interviews, the sample comprises of 8-10
designated employees of the Gulf international tensile. The data is gathered
from those who are willing to provide their response.
Primary and
secondary both data types will be collected in this research.
Primary
data of A Critical Investigation on the Marketing Plans of Gulf International
Tensile Company – GITCO, Oman
The primary
data will be obtained directly from the selected research population. The
selected population is limited to the geographical segment of Gulf countries
(Oman) only as a research topic is based on Oman. While primary data in the
form of qualitative and quantitative information will represent the actual
perception of the research population about the use of marketing plans for the
success of organizations.
The
population sample consisting of experienced employees working in the sales and
marketing in Oman would be interviewed and surveyed as part of the research and
their responses would generate the primary data for the research. The survey
questionnaire and interview questions shall be framed to fulfill the objectives
of the research and the collected primary data would then be analyzed and
evaluated accordingly to generate the key findings and results.
MORE DISCUSISONS ABOUT YOUR
PRIMARY DATA
Secondary
data of A Critical Investigation on the Marketing Plans of Gulf International
Tensile Company – GITCO, Oman
This is the
data that is collected from the different research articles, journals, books,
web sites and other sources which will provide information about the tensile
industries. The author shall also review case studies pertaining to the shade
structure in various industries especially the tensile industry. The research articles
published in the authentic and valid research journals will be used to collect specific
information about marketing plans, components of marketing plans and other evaluation
methods to measure the success probability of marketing plans. The secondary
data will be also obtained from books published by reliable and valid sources of
information. The secondary data findings will be added in the literature review
section of the research work and it will be used as guideline for the implementation
of this research plan.
Provide draft chapter headings for
your report
DISCUSS EACH CHAPOTER BRIEFLY,.
BEFORE THE CHAPTER OUTLINE]
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I.
Abstract of A Critical Investigation on the Marketing Plans
of Gulf International Tensile Company – GITCO, Oman The study of the marketing
as well as the marketing practices have considerable expanded on the
marketing as the problem of the functional management to the broadened
concentration on the marketing strategic roles as well as include the
strategic and the functional decisions. To complete effectively and
efficiently in the Oman markets, the increasing importance was recognized by
the humans for the company to develop the strategies for the marketing. The
whole study is providing the objectives and main focus on the marketing and
operational strategies to hold the marketing share in the market of Oman. The
study is also providing the brief overview of the related studies because
those studies can be helpful to relate the results. The literature review is
providing the studies which are telling a lot about the marketing strategies
of gulf international tensile. Furthermore, in the research methodology, a
brief information about research techniques are provided in which the
research design, the sampling technique along with the sample size discussed.
The data collection techniques are also provided in this document. Some kind
of data analysis and the interpretation are also provided and different kind
analysis are also provided.
II.
Chapters of A Critical Investigation on the Marketing Plans of Gulf
International Tensile Company – GITCO, Oman
Chapter
-1 Introduction of A Critical
Investigation on the Marketing Plans of Gulf International Tensile Company –
GITCO, Oman 1.1
Introduction 1.2
Aims & Objectives Marketing plans and
strategies are considered very important because they contribute
significantly to the efficiency and success of these firms in the market for
every company. The aim is to analyse and evaluate the marketing plans of
GITCO, and the reasons why the firm considered them in the first place in
terms of market share, potential customer, profit rate and current market
conditions in light of intense competition 1.3
Significance of Study
Chapter
-2 Literature Review In this
chapter, the literature review of primary and secondary research studies is
presented in detail. The literature review section contains information about
the importance of marketing in an organization. Moreover, how ethical norms
and standards draw impact on the marketing plan of an organization are
discussed in detail. The literature review is specifically focused on the
operations of gulf international companies and GITCO marketing plans.
2.1
Previous Studies & Key Findings 2.2
Case Studies Chapter
-3 Research Methodology In this
section, the research methodology is presented in detail. Research is a fully
descriptive research work which includes analysis of collected data from the
qualitative and quantitative research data collection sources. Primary data
is obtained from research interviews and survey based questionnaires.
However, secondary data is collected from the literature review of previously
conducted research studies, published articles, and books written by
qualified writers.
3.1Research
Design 3.2Population
Sampling Technique & Sample Size 3.3Data
Collection Techniques 3.4Data
Analysis Techniques & Models Chapter
-4 Data Analysis and Interpretation The collected
primary data will be tested in the statistical software such as SPSS to
generalize a research conclusion about the identified research topic. While results
are also interpreted in detail with visual presentations such as charts and
tables to make research findings and results clear and easy to understandable. 4.1
Data Analysis 4.2
Result Analysis 4.3
SPSS Analysis · Chapter -5 Conclusion and Implication The last section of this research work is
the conclusion which is based on the summary of the whole research work. In
this section, key research findings are concluded with brief information
about future recommendations.
5.1Conclusion 5.2Recommendation 5.3Refeance |
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Planning and Introduction |
4/1/2020 |
4/28/2020 |
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Literature
Review |
4/29/2020 |
6/30/2002 |
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Data
Collection |
4/1/2020 |
6/2/2020 |
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Data
Analysis |
6/3/2002 |
7/14/2020 |
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Interpretation
of Results |
7/15/2020 |
7/29/2020 |
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Write Up |
5/10/2020 |
8/15/2020 |
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Evaluation
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8/16/2020 |
8/18/2020 |
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Final |
8/26/2020 |
References
of A Critical Investigation on the Marketing Plans of Gulf International Tensile
Company – GITCO, Oman
1. Beamish, K. (2012). CIM Coursebook 03/04
Marketing Planning. s.l.:Routledge.
2. Chernev, A. (2018). The Marketing Plan
Handbook, 5th Edition. s.l.:Cerebellum Press.
3. Cohen, W. A. (2005). The Marketing Plan.
s.l.:John Wiley & Sons,.
4. Klein, A. (2007) Marketing Plan: BMW
1-series in Germany. s.l.:GRIN Verlag.
5. Mas, S. (2018). The Seven P’s of the
Apple Watch’s Marketing-Mix. s.l.:GRIN Verlag.
6. Ferrell, M. H. (2013). Marketing
Strategy, Text and Cases. s.l.:Cengage Learning.
7. Ferrell, M. H. (2019). Marketing
Strategy. s.l.:Cengage Learning,.
8. Stevens, Robert (2006). Marketing
Planning Guide. s.l.:Psychology Press.
9. Subramoniam, A.(2018). SWOT analysis on
Oman tourism: A case study., s.l.: journal of
Economic Development, Management, IT, Finance, and Marketing.
10. Westwood, J. (2013). How to Write a
Marketing Plan. s.l.:Kogan Page Publishers, .
12.
Linton,
I. (2012). Brilliant Marketing Plans: What to know and do to make a
successful plan. Pearson UK.
13.
Singh,
M. (2012). Marketing Mix of 4P’S for Competitive Advantage. Journal of
Business and Management, 3(6), 40-45.
14. Solcansky, M., & Simberova, I. (2010). Measurement of Marketing Effectiveness. Economics and management, 15(1), 755-759.
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