Essay About Mn Design And Greatest Strengths

Marketing Plan For Mn Design
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As per the case report, MN design is facing increasing revenues but lower gross profit
margins. To elaborate the challenges faced by MN design- with revenues increasing but
gross profit margins on the decline, it is evident that MN’s operating expenditures are on
the rise. Further the Trade-show industry has been going through rapid changes which not
only have the made the Trade-show industry more competitive but also changed the way
business is being done.
These changes are forcing MN design to make some very key decisions- should MN
target all market segments or focus on only one? Historically MN design has serviced all
of the various market segments within the industry. MN design is a small niche player in
a very competitive vertical market, dominated by large players. To stay afloat MN needs
to not only expand its client base and lower costs but also align a strategic long term
vision for the company. This plan can entail expanding the workforce- to bringing in
fresh new faces and infusing the company with “fresh” blood, to creating new ways to
market itself and the MN brand.
MN design’s strength lies in the fact that it is a relatively small player in a very
competitive industry dominated by both small and large players. However MN design has
carved a niche for itself by being able to service all market segments within this industry.
A “one stop shop” for the industry as they are able to adapt to differing client needs,
unlike many of their competitors who focus on standardized products. Due to the fact
they sell directly to exhibitors, MN design also has the added advantage of forging a
direct personal relationship with its clients. This is very vital as it enables them to
distinguish themselves in a very competitive market place. MN design is fortunate to
have quite an extensive and impressive list of clientele ranging from Billabong Canada to
Picadilly fashions.
The greatest strengths can also be our greatest weaknesses as Mr. Malo, the co-president
for MN design, is the only sales person within the organization- the personal relationship
the clients have are only with him, preventing the company from garnering additional
sales leads. The company is also entirely dependent upon Mr. Malo for all of their sales
and marketing efforts. With Mr. Malo unable to delegate these roles to other individuals
within the organization, he has less time for strategizing and/or any other vital initiative
for the company.
The greatest and most obvious challenge weakness of MN design is the lack of an
aggressive and motivated sales force, outside of Mr. Malo. Beyond that the organization
suffers from a lack of insufficient sales and marketing tools. As read in the case report,
the company has a very basic brochure that does not display any professionalism. The
company also lacks an adequate marketing/sales strategy- as new prospects are
approached via cold calling prior to an exhibition. All these weaknesses make it difficult
for MN to not only attract new customers but maintain their existing ones.
An obvious opportunity for MN is the fact that the industry is changing. As referred to in
the case report- the growth of mergers and acquisitions, downsizing, and changing
channels of distribution/supply chain shifts. Major manufacturers are developing
preferred vendor relationships with smaller component manufacturers and there is a focus
towards key account selling to major buyers. MN Design is in the envious position of
having a direct personal relationship with its exhibitors. This can enable MN too easily
transition these clients into key accounts. This effort has to be complemented by
expanding the sales force to include additional sales reps and Key or National Account
Managers. As industry changes have reduced the number of exhibitor prospects and
buyers an expanding sales force will become all that more vital in bringing in more
opportunities prior to trade shows.
MN design is able to cater to all types of clients but their preferences are clients with
specific and customized needs. This alienates certain market segments as this leads to
price increases. A great opportunity would be to also develop a strategy to market
standardized products and still focus customized orders.
The biggest threat facing MN is their relative geographic in-mobility and the fact that the
industry