Further Work

This section looks at some other theories about marketing and some further work you may want to try. Before considering this it would probably be a good idea to have tried the various worksheets on marketing in the Cameron Balloons virtual factory.

A printable version of this further work is available for filling in answers.

Producing and selling balloons is a very unique activity, and many of the solutions that Cameron Balloons have found differ from the more conventional methods found in textbooks. You may like to consider some of the following areas:

SWOT analysis

SWOT analysis is a framework to help decision-making. The company need to honestly assess their situation under each of the headings:

• Strengths
• Weaknesses
• Opportunities
• Threats

By doing this they can be in a much better position to plan for any eventualities. Try carrying out a SWOT analysis for Cameron Balloons. You may find it helpful to read about how the company has developed in the Cameron Balloons section. There will also be helpful information in the explanation sections for each of the factory floor functions - production and design and marketing and accounts and finally purchasing (stock control).

Micro-marketing

Micro-marketing is the process of individualising marketing, so that the product fits the customer perfectly. Much of the marketing that Cameron Balloons does seems to fit fairly well into this category. Use your library or textbook to find out more about this, and write a short paragraph setting out how relevant this marketing technique is to them.

Strategic planning

As said elsewhere in the marketing section, long-term strategic planning is vital for the long-term success of a business. Many business analysts have spent a lot of time examining how to plan most effectively. Using SWOT analysis, and techniques like product life cycles can be a great help in strategic planning.

Professor Michael Porter looked at the problem in his book Competitive Strategy (1980), and argued that the firm faced five strategic forces. They are:

• Bargaining power of customers
• Bargaining power of suppliers
• Competitor rivalry
• Threat of entry
• Substitute products

Use your library or textbook to investigate this further, and see how relevant these theories might be in helping Cameron Balloons to plan for the future.