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Marketing Plan For Mn Design

Essay by 24  •  January 4, 2011  •  1,753 Words (8 Pages)  •  687 Views

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As per the case report, MN design is facing increasing revenues but lower gross profit

margins. To elaborate the challenges faced by MN design- with revenues increasing but

gross profit margins on the decline, it is evident that MN’s operating expenditures are on

the rise. Further the Trade-show industry has been going through rapid changes which not

only have the made the Trade-show industry more competitive but also changed the way

business is being done.

These changes are forcing MN design to make some very key decisions- should MN

target all market segments or focus on only one? Historically MN design has serviced all

of the various market segments within the industry. MN design is a small niche player in

a very competitive vertical market, dominated by large players. To stay afloat MN needs

to not only expand its client base and lower costs but also align a strategic long term

vision for the company. This plan can entail expanding the workforce- to bringing in

fresh new faces and infusing the company with “fresh” blood, to creating new ways to

market itself and the MN brand.

MN design’s strength lies in the fact that it is a relatively small player in a very

competitive industry dominated by both small and large players. However MN design has

carved a niche for itself by being able to service all market segments within this industry.

A “one stop shop” for the industry as they are able to adapt to differing client needs,

unlike many of their competitors who focus on standardized products. Due to the fact

they sell directly to exhibitors, MN design also has the added advantage of forging a

direct personal relationship with its clients. This is very vital as it enables them to

distinguish themselves in a very competitive market place. MN design is fortunate to

have quite an extensive and impressive list of clientele ranging from Billabong Canada to

Picadilly fashions.

The greatest strengths can also be our greatest weaknesses as Mr. Malo, the co-president

for MN design, is the only sales person within the organization- the personal relationship

the clients have are only with him, preventing the company from garnering additional

sales leads. The company is also entirely dependent upon Mr. Malo for all of their sales

and marketing efforts. With Mr. Malo unable to delegate these roles to other individuals

within the organization, he has less time for strategizing and/or any other vital initiative

for the company.

The greatest and most obvious challenge weakness of MN design is the lack of an

aggressive and motivated sales force, outside of Mr. Malo. Beyond that the organization

suffers from a lack of insufficient sales and marketing tools. As read in the case report,

the company has a very basic brochure that does not display any professionalism. The

company also lacks an adequate marketing/sales strategy- as new prospects are

approached via cold calling prior to an exhibition. All these weaknesses make it difficult

for MN to not only attract new customers but maintain their existing ones.

An obvious opportunity for MN is the fact that the industry is changing. As referred to in

the case report- the growth of mergers and acquisitions, downsizing, and changing

channels of distribution/supply chain shifts. Major manufacturers are developing

preferred vendor relationships with smaller component manufacturers and there is a focus

towards key account selling to major buyers. MN Design is in the envious position of

having a direct personal relationship with its exhibitors. This can enable MN too easily

transition these clients into key accounts. This effort has to be complemented by

expanding the sales force to include additional sales reps and Key or National Account

Managers. As industry changes have reduced the number of exhibitor prospects and

buyers an expanding sales force will become all that more vital in bringing in more

opportunities prior to trade shows.

MN design is able to cater to all types of clients but their preferences are clients with

specific and customized needs. This alienates certain market segments as this leads to

price increases. A great opportunity would be to also develop a strategy to market

standardized products and still focus customized orders.

The biggest threat facing MN is their relative geographic in-mobility and the fact that the

industry

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