Worksheets For Formal Marketing Plan

Situational Analysis

Internal environment

Reviewing the firm’s current marketing goals and objectives

The current marketing goals and objectives of the company is to raise the public support to prove the signatories to “The Giving Pledge” that there is market for BCR, to prove that all nations want BCR. By increasing, the efficiency as well as promoting the market could make the investment decision easier. The agency finds it to implement when they receive a tremendous support.  In addition, the marketing goals and objectives of the company are aligned with the core vision that every single person in every community across the globe deserves the chance f living a long and healthy life with and without cancer. The major goal of the organization is to ensure that by 2025, at least 2000 more people in the region survive cancer every year (Bank of Cancer Research 2017).

 The company is committed to investigate £100 over next 10 years to deal with the region’s largest cancer issues. The company works in partnership with the researchers, scientist, clinicians, the NHS as well as the public health bodies to make life-enhancing improvements. The company aims to become one of the leading authorities on world cancer-related to issues so that people across the world could become the best –informed.  The company seeks to educate and influence better lifestyle decisions that could improve health, minimize the risk of cancer.

The goals and objectives of the organizations are being achieved as the purpose of the company is central through to the BCR and the purpose flows through every elements of the bank. The employees work at BCR for a purpose besides the wages (Edward Stefanek 2011). The customers come to BCR for a purpose, beyond the banking services, since every time they use BCR, they contribute to the Cancer Research. Likewise, the investors make large investment in BCR for the purpose beyond financial return. The use of profits of BCR is reflecting effectively the values of the customers, employees and investors. The company has taken the initiative of improving the cancer treatments for every individual in the world to share. In addition to this, the employees will find meaningful careers options, as they have to look for a purpose beyond the wages. In addition to this, the next time a loved one their employees is diagnosed with cancer, they might be able to take comfort in the fact that each of their career, they keep on contributing to find a cure.

Review of Firm’s Current Marketing Goals and Objectives

The goals and objectives are consistent with BCR’s mission and present trends, as the company has many stakeholders, investors, customers, donors, who contribute a lot to the accomplishment of such goals and objectives. With the contribution of all these parties, the organizations bring in innovations and sustainability in their operation (Gonzalez-Angulo et al. 2011).  Moreover, the contributions enable the company to provide the optimal environment for basic, clinical as well as population based research in oncology for developing a collaborative and dynamic culture of scientific inquiry sustained by excellent research programs as well as customer friendly-shared resource utilizing the advanced technology.

The marketing strategy of the company is implemented by the campaign it develops. Bank of Cancer Research introduces “groundbreaking” campaign to demonstrate true realty of cancer. The company is applying the strategy of breaking the usual charity communications with a campaign that utilizes the footage to demonstrate the regular people diagnosed with the cancer (Burstein et al. 2014). With the help of this “Right Now” campaign, the agency is highlighting that cancer is occurring right now by sharing a real stories of the patients, their loved ones, researchers and other staff. With the help of TV production, the company launches a documentary programs showing the moments of diagnostics treatments and results. This marketing strategy is associated with the products and distribution practices of the company. By showing the activities of the campaign, the organization promotes its cancer related services. The increasing awareness of services, which is one of the elements of the strategy, is effectively working, as their growing effort is beating the cancer every day. The communication approach has massively been successful, but they admit a lot more need to be done to make the brand more distinctive. In 2015, the company has linked up its direct response as well as brand marketing to motivate the consumers to act on its ads and increase the brand impact. The company has increased its progress as well as celebrated the ongoing success with each breakthrough, which brings them a step closer.

Firm’s current performance- As put forward by Marmot et al. (2013), Bank of Cancer Research undertakes pioneering, life saving research to bring forward the day when all cancers are treated well.  The overall fund raising earning was around £460m, which is 6% higher than the last year (Eeles et al. 2013). The organization has acquired a large area of the market, as around 40,000 volunteers give their time to support the work provided by the work. In addition, almost 35,000 patients join its clinical trials, which are helping the company to develop new ways to beat cancer. The company has launched the campaign “More Tomorrow” ha launched with its partners and several major donors such as “Manchester of Cancer Research” is raising the fund to support the campaign (Krebs et al. 2011).

Review of Current Market Strategy

The major resource that enables the company to run the operation successfully is its workforce. The current strength of the human resource of the company has the potential to implement goals and objectives. The technology used in the research helps to conduct the research more effectively. Thu, it can be mentioned that technology is another significant resource that BCR has. In addition to this, the company is financially stable, as it has earned nearly £460m from the fundraisers (Coleman et al. 2011).

Positive and negative aspects of the present and anticipated culture of the company- The company is very much concerned about the customer and stakeholder’s needs and demands. To given a unique experience to customers, the company relies on both short-term and long-term strategies. The short-term strategy helps the company to fulfill the current demands of the customers. Likewise, the long-term strategies help to identify the possible changes that could occur in respect to customer demands. The structure and culture at BCR provides the customers with a chance who receives the profits gained from the banking sector, they could select direct profits to the shareholders of competitors or the consumers could direct their profits towards the cancer research (Wymer 2011).

Current and potential customers of BCR- The organization within a short span has tremendously increased its popularity.  The present customers of BCR are the donors and the patients. The company has numerous numbers of donors that provide fund for the cancer research. In addition, the needy patients look for contribution from others; the donors refer them to BCR. Thus, as the necessity, the company has built a long-term relationship with the donors or fundraisers. Additionally, BCR receives funds from large business owners such Zuckerberg, Bill Gates and others who are potential donors of the organization contributing more than 30% of the overall funds (Begley and Ellis 2012).

Identifying the significant players in the purchase process – BCR is a new type of social enterprise, which is largely known as “Purchase Entity”. It drives the profit with the purpose of finding of a new cause. Hence, in the context of BCR, the bank remains as the entity, which derives the profits (Cerami 2012). In addition to this, based on the purchase decision theory, it can mentioned that there can be two different identical products and the techniques of using the products differentiate the two products as well as determine the buying decisions. Therefore, the bank plays a big role in the purchase process.

Review of Current State of Organizational Resource

What do customers do with the organization’s products- All categories of services provided by BCR are related to cancer treatment. Thus, the services researches related developed by BCR are related to cancer research.  Hence, the organization also gains a large amount of profits from the enhanced services. The firm observes an increasing number of people diagnosed with cancer. Consequently, the fundraisers make large investment to provide and improve the appropriate services. The company provides a variety of services such as cancer treatment, research for new medicine of cancer related diseases and many more. Additionally, the services provided by the firm have the potential to influence the purchase behavior of the consumers. The “Giving Pledge” foundation includes world’s wealthiest individuals as well as the families who provide a combined net worth of $730 billion (Ottman 2011). Thus, people have the faith on the services provided by the organization.

The organization launches the new services through the campaign, which reveals the detail information regarding the diseases. The campaign also increases the awareness as well since it is shown in the digital media channels where people have wide access. Thus, after gaining valuable piece of information the consumers show the interest of buying the services from the BCR. The customers prefer to take services from BCR due to its values that are associated with the service it provides. The employees at BCR not only provide the cure and treatment, they treat the patients with significant responsibility and a friendly approach that makes the customers reliable to the firm. In addition to this, the organization makes an effective relationship with the donors, which increases the contacts and clients. Furthermore, the customers who tend to take the banking services of BCR, have the opportunity to make their life better as they receive authentic treatment for cancer for themselves or any individual of the family.

Competition- Even though, the organization BCR gains a large amount of profits due to its high quality of services, experienced workforce and wealthier investors, it has many competitors that use aggressive marketing strategies to affect the operation. The major competitors are such a Cancer Research UK, cancercare.org, Cancer Research Institute Australia and Children Cancer Research fund. The total fundraising income is around £522m, which is 8% large than the last year. In addition, almost 80% of e-donates is used to bear cancer and the rest is invested to increase raise funds for the future (Burock, Meunier and Lacombe 2013). Moreover, the Cancer Research UK has more potential to run the operation in global market.

Strength and weakness of the competitors- The major strength of the competitor is to continue to drive the trailing and development of high caliber researchers through its institutes and Centre. The financial stability enables the competitor to develop and design the social media campaign. A stellar campaign developed by Cancer Research UK has been assembled under the chairperson of Charles Manby, which significantly helps the firm to enhance the quality of research. Likewise, another campaign “The Create The Change” campaign developed by Research Cancer helps to raise million towards its £167 million contribution to the institute (Myles et al. 2011). This activity helps to learn the company is financially stable, which is reflected on their strategies and campaign. However, Cancer Research is not technologically developed; thereby, the quality of services provided by the firm is not up to the standards compared to Bank of Cancer Research.

Political factor- The country Australia is embracing the liberal political system where the individuals have the right for their own.  The government is supportive towards the cancer cure initiative, thereby; Bank of Cancer Research observes and receives the support from the government (Lundh et al. 2012). In addition to this, as the foreign investors are investing in such social initiative, the government contributes to development of cancer research.

Economical- The Australian economy is comparatively stable compared to other Asian countries. Thus, economically, the country is strong enough to implement the large initiative. In the context of BCR, the large business owners and rich socialists are potential donors of BCR, which remains as the significant advantage for BCR (Gao et al.  2013).

Social- As the whole society is concerned of cancer and its cure; all people belonging to the communities raise the concern regarding the cancer treatments services.  Thus, all organizations receive a growing support from the society.

Figure 1: PESTLE analysis

(Source: Lundh et al. 2012)

Technological- As the economy of the nation is strong, the country has the access to the advanced the technology, which facilitates the techniques of the research. BCR uses advanced technology in its research and analysis. Moreover, due to the technological advancement, the organization manages the customers and donors through e-commerce.

Environmental- All initiatives are taken by the initiatives are for the betterment of the environment. As the cancer cure strategy, firm focuses on the environmental initiatives to prevent cancer such as ban on cigarette smoking, alcohol, drug and others.

Legal- Even though, all strategic initiatives of the company are related to the global concern of cancer, the organization has to follow and implement some regulations made by the government. For example, services provided to the patients should not be biased towards the profits. The company must follow the guidelines set by the Australian government (Basen-Engquist and Chang 2011). For example, when it comes to breast cancer, service providers must implement the guidelines developed by the health department of Australia.  

Strength · Global investors · Growing customer base · Numerous number donors across the world · Increasing variety of services · Has strong corporate image due to the global sustainability initiatives · Strong the internal capabilities such as technology, workforce, and financial stability help the company to implement all research activities. Almost 80% of the research activities are directed towards the biology of cancer (Lundh et al. 2012). · Appropriate investment policy- The investment policy of the company remains unchanged yearly review. The policies are appropriately designed to meet reserves policy, which exceeds the minimum range of managed cash as well as investment.

Weakness · A large percentage of people do not receive the treatment for cancer because the criteria allow the people who banks with the organizations. This means people who are the loyal customers of the bank could avail the facility. Therefore, a large part of the community cannot avail the cancer treatment services., which creates a negative impact on the market, as people think, the organization is selective towards the community (Gao et al.  2013) ·  The global competitor Cancer Research UK has developed some significant campaign to attract more customers and donors. The rich global donors are more inclined to invest on Cancer Research UK. · The internal capabilities of the organization are not strengthened enough as the cancer treatments provided by BCR only supported by the donors. The company does not use the profits earned by the banking services (Marmot et al. 2013).

Opportunity · As the whole world demonstrates a significant concern towards the prevention of cancer, Bank of Research has the opportunity to get into the global market, where they could get more number of donors and investors. This could eventually reflect on the services, that company provides (Burock,  Meunier and Lacombe 2013). · In order to raise the concern of the services, the company could collaborate with the government to develop the community. Thereby, by leveraging the alliance with the government, the firm earns more profits as the government backs the firm. People will be more reliable to the services.

Threats · Aggressive business strategies and global initiative of Cancer Research could affect the global market, the people from different nations are becoming more concerned of cancer treatment provided by the company. · The competitors carry out the research in several institutes, universities, hospitals across the large city of the nation. In several reasons, these competitors work with such external parties to create a strong awareness, which in contrast, affecting the market share of Bank of Cancer Research because does not have such strategic planning.

Table 1: SWOT analysis

(Source: Marmot et al. 2013)

Marketing goals A- The company focuses on raising public support to prove the signatories to “The Giving Pledge”

Objective 1:To create the public awareness regarding the life support of cancer patients

Objective 2: To increase the number of fundraiser to maintain and provide quality cancer treatments

Marketing goal B: The major goal of the firm is to develop a quality of treatment that certainly cures cancer and make better world for living.

Primary target market- The primary target market for selecting the donors are the business owners, socialists and other global fundraisers as well as the people high disposable income. In addition to this, BCR also focuses on the organizations that are inclined to donate on social activity. Likewise, the major customers are the patients who are suffering from cancer, specially the old people who carry high chances of being affected by cancer.

Marketing mix strategies- Product strategy- Hence, the products of BCR is to develop a new campaign called “Think today, live a better future tomorrow”. The campaign provides the details of the possible ways of preventing cancer and some other related guidelines. It is expected that through the campaign, all communities will be informed and encouraged about the heath check-up.

Figure 2: Marketing mix strategies

(Source: Self made)

Price strategy- The people who rely on the campaign’s information and come for the treatment will be affordable to the services as the priced charged for the services are very low than other organizations in the sector. In addition, as it is a social organization, it intends to develop a better life for humans.

Promotional strategy – The new services related to cancer treatment will be promoted through the campaign. All relevant information such as preventative ways, requirement for first stage and second stage of caner will be conveyed through the campaign.

Placing the service- BCR focuses on some particular medical institutes and colleges where the cancer related research can be conducted. In some particular healthcare setting, where the patients go for cancer treatments, BCR should conduct the campaign to those places.

Specific Tactical Activities	Person/Department Responsible	Required Budget	Completion Date
Product Activities 1.Develop and design the new cancer related services 2.Developmnet of the campaign to related to the proposed services 3.Imlementation of the campaign	Research and Development, and human resource and finance department	$40,000	11 months
Pricing Activities 1.Low price strategy where disposable income is low 2. Penetrative price in new market such as new city 3. Competitive price in a market where the other organizations are providing the same services	Marketing department and financial department		3 months
Distribution/Supply Chain Activities 1. To increase the awareness among the people regarding the new services, the campaign will be carried out in some medical institutes and  healthcare organizations 2.  some particular teams should focus on some sub-urban areas where people need help in cancer diseases	Marketing and senior executives	$5000	2 months
IMC (Promotion) Activities 1.Social and digital media 2. On campus campaign in some particular institutes and healthcare setting	Marketing department and other senior authorities		3 months

Table 1: Marketing implementation activities

The implementation of the plan developed above might help the firm to accomplish the goals of being the leading service provider of cancer treatments. However, the implementation of the campaign certainly requires a large investment. It is expected that every existing donor would like to donate to the charity but the reality of life is associated with the fact that after the bills are paid and most people are simply not in a position to donate so. Therefore, it is essential for BCR to bring philanthropy to everyone, by empowering the consumers to donate the profits come from the banking service.

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