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Sound And Visions Essay

1122 words - 5 pages

Sounds and Vision plc
1. Amina believes that a significant marketing budget would be necessary for her marketing plan to achieve its objectives. To what extent do you agree with this view? (18 marks)
A marketing budget sets out how much money is allocated to marketing and how it intends to spend it. They are usually set before a year starts, depending on the company’s fiscal year. There are many reasons for why a marketing budget would help Amina’s business to achieve its objectives, however I believe that the success of Sounds and Vision plc does not lie with the actual size of the marketing budget, but how effectively it is used. As the business has decided to reposition itself, it ...view middle of the document...

If the staff ensure good customer service, it is likely that customers will return and many more of Amina’s objectives will be met. Also, we must be aware that it is not just a few stores which will need to be refurbished in order to meet Amina’s new objectives. There are 300 music stores which will all be in need of a new store format, which is going to be extremely pricey. Amina is going to need a significant marketing budget in order to fund these costs, as they are set to cost around £100 million. If Amina wants to achieve her objectives she will need a significant amount of money, however as stated before, it is very much dependant on how well the budget is spent rather than the size of it. Amina must ensure that she makes the stores as appealing to customers as possible, as she is having less floor space because she wants to focus more on the selling of more technological products- therefore must have the right staff selling the right products. However, Sound and Vision may not need such a significant marketing budget, because as we are aware, they have formed a partnership with a leading mobile phone network provider in order to establish the online store. This involves Sound and Visions sharing the promotion costs with the network company, therefore the costs will decrease and they will still be able to ensure good promotion. Another reason why a big budget may not be necessary for Amina, is because Sound and Vision could promote their new website in their 50 remaining stores, especially as the age range between 25 and 34 enjoyed their customer service and were more affluent, so had more money which would be important as the website was selling things for Ipads and Sony readers. However we must recognise that the budget is only one element of a successful marketing plan. We must take into account the fact that effective market research is essential in order for Amina to meet her objectives, and even though this does involve some costs, it would by no means involve a significant budget, however would make all the difference to Sound and Vision’s success. Also, human resource issues, such as the young age of staff which Amina requires, could result in poor customer service. This will affect the sales of Sound and Vision...

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