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    Developments in Business and Marketing of Advanced Plastics Ltd

    University: Griffith University

    • Unit No: 2
    • Level: Undergraduate/College
    • Pages: 14 / Words 3570
    • Paper Type: Assignment
    • Course Code: MARK 1800
    • Downloads: 412
    Question :

    This assessment will cover the following questions :

    • Explain the concepts and identify the communication mix (advertising, Sales promotion, Interactive marketing,Events and experiences, Public relations and publicity and Direct marketing)
    • Define corporate responsibility and sustainability (responsibility towards the environment) in the context of Advanced Plastics Ltd.
    • Advance plastics Ltd. is a manufacture and supply engineering plastic injection company. Elaborate technology transfer and briefly explain the forms in which it can be transferred.
    Answer :

    INTRODUCTION

    In order to compete with rivalry in the prevailing global market, it becomes essential for every firm to develop business and management (Anastase and GrigoruÈ›, 2016). Changes in firm should be done by scanning the external environment, so that productive results can be attained in the short time duration. It is essential to make modification in internal management activities also, according to the dynamic environment so that organisation can gain leading position among its competitors. Advanced Plastics Ltd is undertaken to complete the project, which is located in Hull HU7 OYQ, United Kingdom. Team members of the firm work hard to serve best services and goods to the customers so that their emerging needs can be full-filled.

    This file will be covered into two different task where first first task will have the general discussion about the organisation as well impact of external analysis on the business organisation. On the other side, the second task will based on the theme of Marketing Communication Mix.

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    TASK 1

    Background of Advanced Plastics Ltd

    In present scenario Advanced Plastic Ltd is a leading technical injection moulding company. The assemblies and technical moulding are produced from 32 modern injection moulding machines ranging from 40ft to 1500ft covering 2K moulding, vibration welding, 6 axis in line automation and so on. Around 200 employees are working in the firm to meet the emerging needs of the customers. Various products prepared by company are, plastics Thread Forms, Co-Moulded materials, Welded Plastics, Modular Plastic Assemblies, Plastic Lenses and so on. This leading organisation came into existence in the year 1922. The nature of the business is to manufacture of other plastic products. (Bresnen, 2017).

    Study the impact of external business environmental factor on Advanced Plastics Ltd and ways to over come the threats.

    In the intense competitive world, external factor PESTLE analysis have a great impact on business activities. Any changes in such factors, assists firms to make better policies to run business effectively. In this regard, management of Advanced Plastics Ltd frames strong tactics by scanning the environment, in order to gain high competitive advancement. As business is dealing in manufacturing of pather plastic products, it is needs to conduct an in-depth analysis of business environment by using PESTEL and Porter's five force model.

    PESTEL Analysis

    Political factor: Business is greatly affected by political factors in the global market which includes, trade restrictions, labour law, foreign trade policy, tax policy and many more. Advanced Plastics Ltd is highly influenced by political factor because many restrictions are imposed on plastic use. The productivity and profitability ratio is declining day by day due to such policies of respective firm. The machines which are used to mould plastic into other goods is very expensive in nature. To reduce the impact of political factor on business they are focusing on some of the glass products as well as Poly lactic where there are no restrictions by any of the government agencies.

    Economical factor: The factors which are covered in economical aspects are, tax rates, interest rate, wages cost, policies and many more. Advanced Plastics Ltd business is being affected by economical factor in negative way because the tax rates and interest rates are fluctuating rapidly. Due to which overall rates of products are increasing which is not allowing the organisation to earn profits. For the purpose of overcoming this respective problem, management is focusing on recycling of plastics products to reduces the overall cost.

    Social factor: Customers are more conscious regarding environment and purchase those goods which are eco-friendly. Advanced Plastics Ltd is conducting work so that more innovative ways can be identified to use plastic in appropriate way through which any one will not get affected in society. This factor is influencing the business in positive way because they are motivated to use plastic in distinguish ways so that goodwill can be raised in the eyes of the customers. By this, they can sustain in the market for longer time duration.

    Technological factor: To mould plastic in better way Advanced Plastics Ltd need to implement modern technology in the premises. Plastic with less wastage can be used in innovative way for better outcomes. This external factor affects the company in positive way because advance technology will help them to manufacturer plastic in more unique ways. (Davidsson, 2016). But, all of the employees are not able to handle latest technologies being used by the organisation. To overcome this respective problem company firstly give training to employees that how they can use the machines so that they can easily operate new technologies to make work easier.

    Legal factor: Copyright law, discrimination law, import law, fraud law and many more are considered under legal factor. Advanced Plastics Ltd are being affected because of this particular factor because they are needed to make changes in plans and policies as per the requirement of law. It is one of the expensive process. To overcome this respective impact the management has hired the legal advisor who can help them out to tackle the situation in best possible manner.

    Environmental factor: Plastic does not decompose in the environment and creates pollution in the surroundings. Advanced Plastics Ltd is moulding the plastic so that other products can be prepared like, plastics Thread Forms, Co-Moulded materials and so on. It is one of the factor which has a negative impact on organisation because it is simply adding on the overall expenses to manufacture any of the plastic product and reducing the profit of a company. In order to sustain in the market , they had find out the way to tackle and for that they are sticked to the policy related to recycling of plastic product and giving major on those plastic product which are not harmful for environment.

    Porter's five force model

    This model was developed by Michael Porter in the year 1979 , which is taken as popular business strategy tools for companies to gain opportunities from the marketplace and develop policies to reduce major threats as well. Advanced Plastics Ltd is using this model in order to determine its business position. There are five elements in Porter's Five Force Model which are illustrated as under:

    Bargaining power of buyer: There are limited number of suppliers of raw material related to plastic product due to which there is less power in the hands of buyer (Parker, 2016). It will directly allow Advance Plastic to sell their product at a higher price which will allow them to achieve their targets.

    Bargaining of suppliers: Just because of limited number of supplier in the market is affecting in increasing the price of a raw material. It is the reason that Advance Plastics has very low power to do bargaining in it which has affected them at the time of calculating the overall price of a product. It has affected company like Advance Plastics because raw material are required to be purchased at a higher price.(Dickmann and Sparrow, 2016). Here, company has decided to re use the product so that unnecessary expenses can be reduced which will allow them to improve their profits.

    Barriers to entry: There is limited opportunity for other person to invest in the plastic sector as its requires huge manpower as well as capital. It is the reason that there is low barrier of new entry for company like Advance Plastic. It has a positive impact upon the organisation which directly helps in accomplishing the goals.

    Threat of substitutes: There are number of business entity which has brought some of the new idea and concept for the purpose of giving tough competition to Advance Plastic. There is high chances of substitute by some of the material like glass, Poly lactic which are more eco-friendly as compared to plastics. To reduce the impact of substitute, it will be crucial for the organisation like Advance Plastic to focus that how they can add on the products related to glass and fibre and many more.

    Rivalry among existing competitors: To be in the leading position Advanced Plastics Ltd come up with more unique ways to mould plastic into other goods. The power is high when there are many competitors, low customer loyalty, goods are mostly similar in nature, more exist barrier etc. Some of the rivalries firm are Ambro, Charpak and many more which are dealing in wider area which create huge issues for the business organisation. To tackle with the competition it will be crucial for the Advance Plastic to sell their product at a low profit margin to attract new customers.

    Determine the company’s position according to prepared Porters Five Forces

    After having the detail analysis on porter five force on Advance Plastic, it will be helpful for them because they will be able to decided that how they are needed to tackle with any of the situation. Currently, there are number of other organisation who is dealing at higher level due to which company is not a leading organisation in this respective sector but they are able to find out the ways that how any of situation is needed to be deal.

    TASK 2: MARKETING COMMUNICATION MIX

    Marketing Communication Mix

    Marketing Communication Mix is a combination of two main concepts that are marketing and communication mix. Marketing is a broad term that includes merchandising, pricing, product research and development, distribution processes as well as communication or promotion. It includes process of buying and selling of goods or services in order to satisfy the needs of customers. Communication mix is a method that help the company to promote its product among its targeted customers. In context of Advance Plastic, if they will adopt this respective process then they will get the opportunity to meet out the requirement of customers. Management will get the opportunity to find out the ways to which helpful material can be used which will have a direct impact on result. Even organisation will get opportunity to enhance their profit. Basically, there six elements of marketing communication mix and they are explained below:

    • Advertising Element: It is one of the prominent tools of marketing communication mix. Advertisement is paid form of non personal presentation of goods or services by an identified sponsor. The aim is to reach large number of audience which will have a direct impact on the sales of a company. It is one of the way which will allow the organisation to add on new customers through which profit will increase automatically (Ma and Tsui, 2015).
    • Personal Selling: Personal selling is a part of direct marketing. Although, the aim of personal selling is to reach target customers directly, it occurs when a company employee as a salesperson has a conversation with a potential consumer. It is a face to face conversation. The main thing which is needed to be focused by the organisation like Advance Plastic in this will be related with customer satisfaction because market team can sell product only in that respective situation where they are able to satisfy the need of a customers.
    • Discounts and Promotions: Sales promotion and discounts are similar to advertising that are promoted through paid communication. It is taken as a tool that helps the company to promote its products using short term attractive initiatives to stimulate its demand. The motive of sales promotion is to increase sales. It is an important strategy when the product is introduced in the market. The goal of this communication tool is to increase revenue and cash flow as well as clearing out extra inventory. If company like Advance Plastic will be able to focus upon this respective policy they will get the chances to give tough competition to rivalry firm and even chances will also increase to improve the overall profit of an organisation.
    • Public Relations and Messaging: Public relation is a strategic communication process which is used by firms to build mutual relationship with targeted audience (Parker, 2016). The aim of public relation is to maintain a positive relationship with the public, potential customers, employees and other stakeholders which leads to develop positive image of the brand. It is one of the effective tool of marketing communication mix. For example: If Advance Plastic is willing to perform better in current market they must be able to develop healthy relation because that is the way to increase the sale and that will have a direct impact on meeting out the targets.
    • Direct marketing: Direct marketing is a very popular and widely used method to inform audience about organisational products and services. It is the direct method of informing the users about the product or services rendered by corporation at market place. Direct marketing essential can take many forms, including mails, brochures, emails, coupons and telephone calls. It is cost effective method of advertising. Direct marketing is specially best for those companies who want to sell niche products.
    • Event Sponsorship: Event sponsorship is a marketing tool that helps the company to support an event by providing financial assistance, products or services. The idea of sponsorship is to develop strong relationship between the business and its customers due to their tie with sponsored event or sport. In this types of marketing strategy, company allows themselves to develop their brand image in front of large audience. It will have a impact on overall sales of a company.

     

    Influence of Marketing communication mix on policies and decision making process of Advanced Plastic Ltd

    In present scenario, marketing communication plays the must crucial role for any of business organisation as it helps to take any of the long terms decision. The decision might be helpful in some of the cases and in some of the cases they might not be too. In context of Advance Plastic, marketing mix has been influencing them on policies as well as at time of decision making. Below, there is the detail description about the influences of policies and decision-making on Advanced Plastic Ltd.

    Conducting the advertisement activity is not an easy work for any of the organisation because directly or indirectly lots of expenses are needed to be done here. In the same manner, Advance Plastic also faces the problem while preparing plans and policies related to advertisement because it becomes important to decide that what will be major area where they will go for enhancement of sales.

    Discount and promotion activities has a great impact on business organisation because it allows the organisation to perform better. In simple word, the decision which had been taken by organisation for the purpose of increasing the overall sale of the business organisation was helpful for the achievement of an organisation. In addition, the main problem which Advance Plastic faced during the marketing communication of discount and promotion to decide that how much discount should be given to any of the customers. Also, there were certain policies related to profit earning which were also needed to be focused. This were the main points which were needed to be considered by the management of Advance Plastic at the time of making any of the decision (vom Brocked and Gonser, 2016).

    Event Sponsor was one of the those decision which had a great influence on decision making of Advance Plastic as they were needed to decided that whether they are going to invest or not. But, it has helped the organisation to attract more customers after taking the decision of event sponsor. In simple words it had helps company to improve their overall profit margin and more number of customers got connected with company for dealing in plastic products.

    Even company had taken the decision to go for direct selling which is quite difficult task for business organisation. It was one of the communication process which was helpful for company for the purpose of enhancing the sales. Here, company even faces the difficulties because they are needed to interact with customers directly which is one of the time consuming process. In short, it had a positive impact on company because it simply helped to enhance the overall sale and even company gets the opportunity to perform better can connect more number of customers with organisation.

    Public Relation and Messaging is also one of the activity which was performed by the business organisation. There are lots of difficulties at the time of developing the public relation because marketing has to make things clear regarding the products and services which they will provide after starting to develop the relations (Renwick, 2018). Here, it was difficult task to decided that how many member should be added in the team who will carry on the work related to maintaining the relation.

    These are some of the marketing communication mix where sometimes company got benefits and even their were some of the situation when they had to decide that how any of the work is to be done. There were some of the circumstances where expenses had increased and created issues for the organisation.

    Critically evaluate the effectiveness of the firm's response

    It is needed to understand that any of the business organisation perform well in that respective situation where they are able to adopt changes as per the situation. In the same manner it was important for Advance Plastic to use appropriate communication mix because that is one of the way which will allow them to accomplish their goals within the specific time period. Company mainly focuses on Discounting and promotion for the purpose of performing well in the market (Rotich, 2015).. It can be even said that company is performing well in the market once they had adopted this respective technique of doing promotion because it allowed them to gain customers. Even they had focused upon advertising because it is the communication mix that allowed the people to know about the organisation. In addition, customers from different part of the UK got connected with organisation just

    Whenever any of the organisation is needed to deal with the problem of communication marketing mix they must be able to decide that what are the main issues which are creating the problem. The main issues to conduct the advertising and any of the promotional activity, it is necessary to have sufficient amount of fund which was not available with company. To reduce the negative impact they applied for the bank loan which can be paid off in small instalment. Also, expertise team were formed whose duty is take any of the decision as per the requirement of a situation.

    Explain some areas for improvements in response of the organization

    In present scenario, it becomes necessary for any of the organisation to develop the concept that they will be able to perform better only in that respective situation where they are able to take decision as per the requirement of customers. For the purpose of improving the performance of organization need to improvement in public relations by reverting their feed back on priority level. As well as by coming up with those goods and services are mostly demanded by them. By this more loyal customers can be build for the product and services which is a positive mark for the company (Yi, 2016). On the other hand improvements can be done in sales promotion. It has been found that company is not focusing on Event promotion much and more but it is quite interesting area which will easily give better results. 

    CONCLUSION

    From the above assignment it can be concluded that Contemporary Development is quite important because it will give the idea to organisation related to deal with negative influences of changing environment. Pestle analysis is conducted in order to better understand the impact on business activities. By deeply evaluating political, environmental. social, technological, economical and legal factors management can easily cope up the threats prevailing in the open market place. Porter's five force model is measured to known the degree of power each element is holding. It helps firm to compete with rivalry. Additionally, marketing communication matrix is evaluated to analyse its influence on policies and decision making process. By this company is able to understand which assignment require approval along with it identify what type of leadership is accountable for the approval. This helps in attaining productive results.

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