A review of the marketing strategy of First little step(FLS) and its effectiveness.
FLS is a newly established (started business in 2009) children learning center. The owner adapt franchising at the very beginning and own 2 franchisee in Yuen Long and Cheung Sha Wan under the Tsuen Wan head school. However, franchising was not working well and a negative effect of the brand name and parents confidence when franchise contract cease effective. Now, FLS expend by inviting new investor, open new branches under partnership agreement.
1. Analysis of marketing environment
Internal and external-SWOT analysis, PESTEL, Porter 5 Forces
The internal resources, capabilities and competences of an organization
Analyse the market segmentation
Analyse the product lifecycle
The expectations of parents and the influence of ethics and culture
2. Review of marketing strategy
The influence of corporate strategy
bad experience from franchising the brand name : franchising->partnership
Open a new branch or not? Source of funding? Location?
Assess the BCG matrix
Alternative approaches to achieving competitive advantage
Porter generic strategies: Cost leadership/ Differentiation/ Focus/ Niche
What is the success criteria to assist in the choice of strategic direction and method
Assess the suitability, feasibility and acceptability of strategic options to FLS.
3. Effectiveness of marketing strategy
Growth in customer base
Growth in revenue
Assessing the image of FLS in the eye of parents and children by internet/ face to face conversation( Babykingdom forum, facebook comments, conversation with parents/ children talking about FLS)
Growth in the number of classes
Growth in variety of classes