Paperworks PLC. Strategic Marketing Planning

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Paperworks PLC. Strategic Marketing Planning

The case is concerned with a paper production company, Paperworks, wishing to expand its business and increase profits. It operates in two primary markets while holding the leading positions, but they are not as profitable as magazines and greeting cards. Thus, the company would like to have a presence in more niche markets and potentially conquer one of the bigger ones, which is difficult due to the competition. The group task is to assess Paperworks PLCs current portfolio and assist in preparing strategic options.

The workshop analyzed the companys existing and potential markets and what it potentially had to offer. Based on that, Paperworks can easily occupy luxury packaging and bookbinding, judging by their success in the more general versions of those markets. Brochures and achieving materials are also possible, as they belong to the specialist paper category. As far as greeting cards are concerned, it might not be worth expanding in that market as the competition is strong, and the companys current position is low. Overall, the provided information was sufficient, and the group agreed with the main points without much argument.

Niche markets can become a great opportunity to expand ones business for both small and large companies. In the given case, the company is big and established, which provides certain advantages (brand familiarity, minimal staff retraining, and others). Paperworks have the resources to serve the niche effectively due to its specialization (Gilligan & Wilson, 2009). It also plans to have several niche markets instead of just one, which can prove successful and business-saving during turbulent periods (Gilligan & Wilson, 2009). However, what the workshop activity potentially failed to consider is customer impact (Ojda, 2019).

It is related to whether buyers will accept a new company, which happens to be established in the general field, into the niche and to how the existing customer base will react to the companys expansion (Ojda, 2019). That information was omitted, so the group did the best judgment based on profits and specialization, which are consistent with the findings, but it is also important to consider consumers.

References:

Gilligan, C., & Wilson, R. M. S. (2009). Strategic marketing planning (2^nd ed.). Taylor & Francis Group.

Ojha, S. C. (2019). Big data: a new perspective for the establishment of segments for niche marketing. International Journal of Business Excellence, 19(3), 381. Web.

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