Personal Marketing Plan: Main Statements

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Table of Contents

Situational Analysis
Marketing Mix
Conclusion
Works Cited

Situational Analysis

Objectives

Currently, I am a final year student undertaking a course in finance. After clearing my course, I intend to further my career by venturing into the finance field. This will contribute towards the attainment of my career objective- to be a financial analyst- by gaining a high level of competency. In order to achieve this, I plan to go to Dubai and work at the Dubai International Financial Centre (DIFC). The decision to go to DIFC is due to the fact that DIFC is the ranked as an international financial centre with the highest growth rate. Going to Dubai will increase the chances of accessing NASDAQ which is classified as a world class financial and stock exchange market. In addition, the centre serves a wide range of countries in East Asia and Western Europe (“Your gateway to growth” para.1-3). This will contribute towards an improvement in my financial analyst skills by associating with a wide range of individuals in the finance field. In addition, DIFC will give me an opportunity to enhance my financial skills considering the fact that the institution deals with diverse financial activities.

In order to exploit the opportunities presented within the financial field, it is my objective to establish a financial consultancy firm which will be located in Dubai. In order to achieve this, it is my objective that I will complete my bachelor degree in finance successfully. After graduating, I intend to continue with my industrial attachment within a well established financial institution in US. The institution of choice where the industrial attachment will be conducted is Standard and Poor’s and New York Life Investment Management LLC. This will contribute towards attainment of a wide range of knowledge in relation to financial techniques. This will increase the probability of getting a chance to work at DIFC.

Mission statement

To be well positioned in my career, more emphasis will be given on how to improve my personal skills in relation to financial analysis. This will be aimed at attaining a high level of specialization. To achieve this, I will ensure that I acquire diverse financial skills from US financial institutions. Some of the US institutions which I will consider working in before going to Dubai include investment and commercial bank, insurance companies and stock exchange firms. Attainment of these skills will increase the effectiveness and efficiency of executing the assigned duties. In addition, the organization within which I will be working will be able to receive a high value from my services. In the course of my duties, it will be ensured that all the international financial and accounting standards are adhered. This will contribute towards enhancing the integrity which is required within the finance field.

Personal marketing objectives

To acquire substantial financial skills which can enable me to serve in a wide range of financial institutions within the next 3 years.
Some of the key skills intended to be acquired within three years include financial analysis skills, forecasting on the return of a given investment vehicle and conducting investment advisory services on wealth and asset management, insurance, equity and debt instrument management practices. The advisory services will help potential investors to make viable investment decisions in different economic sectors.
It is my objective that within 3 years I will have acquired enough skills to help me enhance my career as a financial analyst.

Personal SWOT analysis

Strengths
-Strong technical knowledge on how to conduct investment appraisal of projects in different economic sectors.
-Effective communication in relation to both oral and written.
Transferable skills
– Integration of the concept of teamwork has enhanced my leadership skills.
Personal characteristics
-Incorporation of strong work ethics.
-Self discipline in execution of duties by observing time and job specification.
-Effectiveness in working under immense pressure.
-Creativity which increases efficiency in conducting innovation in an optimistic manner.
-Interaction with professional financial institutions has enabled me to attain diverse skills and establish a successful network.

Weaknesses
-Lack of substantial skills in relation to financial investment.
-Currently, I am not well versed with emerging technologies in relation to finance.

Opportunities
-Enhancement of my educational skills. Increased innovation in Information Communication Technology presents an opportunity to enhance my career by undertaking on-line studies.
-Increased demand of financial advisory services especially by potential investors.
-A high rate in which investors are considering financial sector as a viable investment destination.
-Increased development of financial investment products.

Threats
–Downsizing in the number of investors within the financial sector due to effects of economic recession which started from the stock market.
-Cut throat competition. Increased competition from the existing financial analysts who have already acquired substantial knowledge and skills in relation to financial investment.
-Competition from other college graduates.

Distinctive competencies and competitive advantage

Considering the competitiveness within the labor market, is paramount for individuals to develop their competiveness. This can be attained through development of distinctive competencies. Over the years, I have managed to develop a number of key competencies as outlined below.

Investment appraisal

Over the course of my study, I have managed to develop key competence in relation to evaluation of investment projects. This has been attained through extensive reading of investment materials concerning investments in diverse economic sectors. As a result, skills concerning the key elements to consider in determining the feasibility of a given investment vehicle have been amassed. Some of the skills relate to determining the degree of risk associated with certain investment products. Currently, the financial environment is characterized by the emergence of a wide range of investment products. As a result, determining the effectiveness of the investing in such products is paramount. Due to the effects of the recent economic crisis, investors have become more risk averse and demand a high certainty of their investment return.

Efficiency in learning

As a finance student, I have managed to attain effective learning skills. This has been achieved by being keen on details. In addition, different learning resources have been utilized in the learning process. Some of these include use of books and financial journals available in hard copy and electronically. Examples of the methods which have been utilized include use of simulation. Development of the internet technology will improve my competitive advantage in offering consultancy services in relation to investment. This is due to the fact that intense financial skills will be acquired by utilizing online learning and reading financial reports posted on the internet.

Competency in learning will also contribute towards improvement of competitive advantage in the market. This is due to the fact that I will be able to conduct environmental analysis by scanning the external environment. As a result, effectiveness and efficiency in analyzing the trend within the financial sector will be attained. This means that the effectiveness of conducting advisory services in relation to investment will be effective by reflecting the effects of the external environment.

Segmentation and target market

In the course of my career, the financial services will target both individual and institutional investors located within the Gulf region. Selection of this region resulted from the fact that most of the countries within the Gulf region are undergoing a high rate of economic growth. My preferred operation base is Dubai.

The choice of these customers resulted from realization of the fact that both individual and institutional customers are increasingly considering financial assets as investment products. In order to be effective in their investment, managers of these companies are increasingly seeking skills related to the best investment destination in order to guarantee the investors their return. As a result, a large number of investment companies have emerged and provide diverse investment products. In developing my career, my activities will mainly focus on investors in financial stocks. This is due to the fact that both individual and institutional investors have the capacity to invest in stocks and equities. This will be attained by establishing a close relation with the investment companies. In beginning my career, the preferred company to work with is New York Life Investment Management Limited Liability Company. The firm is well established and deals with provision of asset management practices. The company has also incorporated a wide range of investment vehicles in relation to retail and institutional investors.

Marketing Mix

Product

In order to be competitive in the market, I will enhance my financial analysis skills through incorporation of emerging financial accounting technologies. One of the technologies that will be considered includes the emerging financial analysis software. To be effective, more training will be obtained on how to conduct professional financial analysis using the emerging technologies. This will increase the ease with which complex financial data is analyzed.

Effectiveness of reporting and communicating with the clients is also paramount. In order to attain efficiency in communication, Arabic language will be learned. This is due to the fact that it is the common language of communication within the Gulf region. This will be achieved by attending Arabic lessons to learn writing and talking in Arabic. As a result, constancy services will be offered more efficiently.

Place

The efficiency with which investors access the financial services offered will be increased by establishing a number of offices within different cities in the United Arabs Emirates (UAE). However, the headquarters will be located at Dubai. This is due to the fact that Dubai has a well established financial system considering the fact that DIFC is located in this city. To limit the cost involved, consultancy services will be conducted by booking a room in major restaurants in UAE towns. A comprehensive time table will be developed depicting how the services will be provided in the other UAE towns.

Price

It is my objective that the provision of consultancy services to the investor will result into a high level of financial return. This will ensure that sufficient benefits are received so as to develop a substantial amount to cater for retirement. Considering that high quality of financial services will be offered to the investors, the services will be charged accordingly. Pricing of the services will be determined in relation to the nature of the clients. Individual clients will be charged at a relatively lower level compared to institutional investors. In addition, pricing of the services will also depend on the type of information that the investors are seeking.

Promotion

Creating market awareness is one of the factors that contribute towards the success of an individual in his or her career (Scribner, Pratt & Sautter para.5). This is due to the fact that a wide range of potential clients become aware of the respective services. In order to be effective in creating market awareness, the concept of integrated market communication will be incorporated. This will be attained by integrating diverse market communication tools. Both the traditional and emerging market communication tools will be used. The traditional methods will include use of advertisements through mediums such as television, radio and print media. The advertisement will entail provision of my personal experience within the financial accounting field. This will contribute towards an increment in the level of confidence amongst the potential investors. The advertisement message will be effectively designed to enhance effectiveness and efficiency in communication. The core message of the advertisement will entail increasing effectiveness of making investment decisions amongst investors in different economic sectors. In relation to the emerging communication technologies, the internet will be incorporated. This will be achieved by designing a website in which the consultancy services offered will be posted. It will be ensured that al that all the skills attained are posted on the website for clients to see. As a result, potential clients (both individual and institutional) will be able to appreciate the importance of acquiring knowledge relevant for them to make effective investment decision. By explaining the importance of effectiveness in making investment decision in various investment vehicles, the current and potential investors will develop a desire to acquire these skills from professional financial analysts. A comprehensive description of the knowledge and skills acquired will be integrated to ensure that the investors prefer my consultancy services instead of other competitors.

In addition, a blog page through which potential clients can enquire about the financial services offered will be designed. Through the blog pages, it will be possible to create an effective network with the potential clients. To improve on networking with the clients, other emerging social networking tools which will be utilized includes use of Facebook, Twitter and Youtube. Awareness of the address to these social networking tools to the general public will be made through advertisements in the radio, television and print media specifically the daily newspaper. These social networking tools will not only act as market communication tools but will also improve the interaction with the clients. This is due to the fact that a large number of individuals access these tools daily.

Conclusion

In order to develop my career, the above strategies shall be implemented to the letter. A high level of personal discipline will be integrated to ensure that there are no deviations from the identified objectives. In addition, the mission statement will be continuously evaluated from time to time to determine whether it is contributing to my career objective. By targeting the market, it will be possible to focus on the identified customers thus offering the required financial services more effectively. This will contribute to a high level of satisfaction. The marketing strategies formulated will be reviewed from time to time to ensure that they meet the changes in the market.

Works Cited

Dubai International Financial Center. “ Your gateway to growth.” 2010. Web.

Scribner, Ed, Pratt, Eric and Sautter, Elsie. “Roadmap for your career: your personal marketing plan.”New Mexico: New Mexico State University. 2010. Web.

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