In response to this dire situation, I present you and the team the following proposal for returning the company to its former exemplary position. With all humility, I would like to place before your good self my credentials in taking up this study. After completing my Bachelors in commerce, I pursued my Master's degree in Business Administrative (with Specialization in Marketing). I have about 15 years of experience in marketing industry. I joined Brightware Corporation about 10 years ago as a Marketing Manager and became Vice President of the Sales and Marketing, 3 years back. I am proud to be associated with the Company and be a part of its excellent workforce.
The year 2005 had been the most profitable year in the history of Brightware Corporation with revenues touching 200 million dollars. However, in the year 2006 the Company witnessed a sudden dip in profits, with sales registering a negative growth by about 6%. To discover the reason for the current poor performance, as vice president of Sales & Marketing I called up the Advertising and Marketing research director Mr. Mark Quinn and National Sales Manager Mr. Kenneth Graham to a meeting to discuss about the sharp drop in annual sales. The unanimous view among all the participants of the meeting about the reasons for the current poor performance is as follows:
1.) Not enough attention is being paid towards countering the marketing communication machinery of the competitors: Today we are living in a world where media has started playing a very strong role in affecting the lifestyles of the consumers. Marketing communication, road shows and advertisement campaigns play a crucial role in carrying the brand closer to the consumer. The recent hype created around some brands coupled with attractive invitational prices of the products has taken away an appreciable share of our market. However, we failed to fathom the effect of the ad campaigns of our competitors and counter it. The marketing and sales department made repeated requests to the top management for more funds to counter the ad campaign of our competitors, but the top management did not yield to that request. The top management was of the opinion that on the basis of our more than a decade old association with the customers, we do not require to match the competitors on such campaign. This smugness resulted in sliding of our market share. The competitors on the other hand continued their all out efforts to woo the customer by unleashing marketing and advertisement campaigns on Television, Radio, Newspapers, Internet, road shows and direct marketing.
Our main competitor World Kitchen has a prominent e-commerce website (http://www.worldkitchen.com), which is used to promote and sell its kitchenware products online. On the other hand we have virtually no presence in the Internet and we are not leveraging the most powerful media of the 21st century the Internet.
2.) Murmurs of disenchantment amongst the workforce: As a consequence of a dip is sales and less number of consignments being picked up, the production department was asked to go slow and retrench 140 of its workers, which in turn resulted in lowering of the morale amongst the worker community. The Company could not plan