A Strategic Marketing Plan For Dar Alarkan Real Estate Development Co. Prepare by
Supported By Dar Al-Arkan
Dev. Co. Ltd. To be conducted by: Students
and Instructor of Strategic Marketing Course
(MKT 513) Department
of Management and Marketing King
Fahd University of Petroleum and Minerals (KFUPM) Dhahran,
Saudi Arabia 1. Introduction 2. Methodology 3. Presentation Of
Results And Recommendations 1.
Introduction : As part of the requirements for completing
the Strategic Marketing course offered by the Department of Management and
Marketing at King Fahd University of Petroleum and Minerals (KFUPM), the
students enrolled perform analyses of the strategic marketing processes of a
variety of companies operating in different industries and countries. This course is a requirement for all
students in the university's MBA program.
The students in this course have university degrees in a variety of
undergraduate disciples and have completed at least one previous course in
marketing. In the past, most of the
cases that were studied were historical and involve operations in locations
other than Saudi Arabia. However, we believe it is important that the students
assess the applicability of the theories and lessons learned to the current
needs of a Saudi company operating in the unique business environment of
Saudi Arabia. Therefore, within
the auspices and with the support of the Business Development Center of the
College of Industrial Management at KFUPM, this semester the Strategic
Marketing class proposes to perform a strategic analysis and create the
framework for a strategic marketing plan for Dar Alarkan Real Estate
Development Co. The Major components of this analysis
will include an assessment and evaluation of: 1.
The prevailing
marketing philosophy within the company. 2.
Strengths and
weaknesses of internal input factors ranging from the customer knowledge base
and marketing mix planning to non-marketing support resources. 3.
Critical aspects of
external input factors with emphasis on competitive, economic, and cultural
variables. 4.
The final report that
summarizes and integrates these analyses should provide a strong strategic
foundation for short-horizon operational marketing plans. 2.
Methodology It is anticipated that the class will be
broken into several small groups of no more than four students each. Each group will act as an independent
consulting unit in direct competition with the other groups and in support of
the goals of Dar Alarkan Co. The focus of the course and of the
project is strategic marketing, and the activities of each group will
be focused on the collection, analysis, and integration of a wide variety of
information. This information is
expected to be either publicly available or supplied by the company. It
is expected that Dar Alarkan Co. will provide common briefing
information to all groups. This
information should include, but not be limited to, information necessary to
inform the students about company history (developmental, organizational,
etc.), mission, internal strengths and weaknesses, and competitive
environment. In addition it is hoped
that the company will provide or direct students to other sources of useful
information, e.g. market statistics, trade association data, and the
like. In support of its competitive
efforts, each project team will also be encouraged to supplement the
information supplied with any additional useful information that it can find
in the public domain. The Business Development Center will assist as
necessary in maintaining communications between the company and the student
groups during the semester. It is recognized that some internal
information may be viewed as sensitive or proprietary. Students will be informed and reminded of
this reality, and Dar Alarkan Co. may want to consider drafting a
nondisclosure agreement for students to sign. It is important to emphasize, however, that the value of the
project to both students and the company depends on the volume and quality of
information that project teams have to work with. The fewer the assumptions that students are required to make
because of incomplete information, the more realistic the outcomes will be. . 3. Presentation Of Results And Recommendations Each project team will prepare a written
report summarizing its efforts for Dar Alarkan Co. under the general
supervision of the professor, Dr. James C. Cooper. Each report will be expected to include the identification of
feasible strategic alternatives and a comparative assessment of their
attractiveness. This assessment will
be the heart of the report and will be based on the integrated analysis of
company, industry, market, and competitive information. It will be guided by the normative
strategic marketing process on which the course is based. It is to be expected that the analysis and
recommendations of the project groups may differ, perhaps in very substantive
ways, and that each group will have the burden of proof that its recommendations
are realistic, reasonable, data based, and superior to other options. It is desirable, though less necessary,
that the student groups also make oral reports to key executives of the
company. It will be valuable for both
students and company managers to participate in formal presentations. Students need the experience of planning
and conducting presentations as well as responding to questions and
criticisms. And company managers will
benefit from additional insight into the thinking and abilities that informed
the written report. Decisions
regarding oral presentations will be discussed with the company and deferred
until the projects are near completion. 4. Project Timetable 1- Present – April 2: Preliminaries (initial contacts with possible sponsors,
negotiations, documentation of agreement). 2- April 3, 2003 – April 16: Initial, formal group briefings,
possible group visits to company offices and facilities. 3- April 17, 2003 – May 20: Groups work independently, occasional
contact with sponsor as needed. 4- June 7: Written report deadline. This is the last day of classes for
the spring semester. 5. Benefits Of The Project: It is important not to overstate project
benefits, because they are necessarily somewhat speculative. Outcomes cannot be predicted with
certainty. That being said, company
sponsorship will clearly offer benefits to individual students, the
University, and Dar Alarkan Real Estate Development Co. : A- The educational experience and the learning
opportunities for the students will be much richer for having grappled with
the real strategic problems and opportunities faced by the company. They will be better prepared for the challenges
that they will face throughout their managerial careers. B- The University will progress in accomplishing its
mission of serving both the educational needs of its students and long-run
goals of industrial development and diversification of the Kingdom. C- Dar Alarkan Co. will receive the benefit of the unique insights and
perspectives that consultants can offer but which company insiders with a
necessarily narrower focus might overlook. Students lack the breadth of
experience of professional consulting firms, but offer in compensation
multiple competing groups, a luxury not enjoyed by the wealthiest of
companies. In addition, they offer excellent knowledge and information about
Saudi culture and needs. D- The company should find value in the knowledge that
they have assisted in the professional development of aspiring young
managers. E- The students who work on this project will provide
promotional support for the marketing activities of Dar Alarkan Co. through
word-of-mouth communication with friends and relatives, and may in fact be
potential customers for the services offered by the sponsor. F- Finally, this project will enhance “Awareness
Programs” implemented by Dar Alarkan Co. 6. COST: We would hope
that any out-of-pocket costs necessary for the project would be covered by
Dar Alarkan Co. As it is initially conceived, however, we anticipate that
these costs will be small or nonexistent.
We would like to see financial support in the form of prizes for the
groups that produce the best project reports emerging from the competition
and an honorarium for the professor for his work in supervision and
coordination. The number of prizes would
depend partly on the number of competing groups. Whatever the size of the commitment agreed to if this proposal
is viewed positively by the company, the costs would be a small fraction of
what would be billed by a professional consulting organization. . |