Transformation in Transmission of Culture †MyAssignmenthelp.com

Question: Discuss about the Transformation in Transmission of Culture. Answer: Introduction The report presents a brief overview of the marketing strategies and plans of the firm. Rio Tinto Company has been selected for the report. It explains that how the company is making marketing strategies and policies to gain the goals and objectives of the company. It also describes the strengths, weaknesses, opportunities, and threats of the company to analyze and evaluate the strategies and plans of the competitors. It describes the mission, vision, core values and competencies of the company. It explains the current marketing plan of the company. The company decides to launch a new service, site operation and closure in the market to attract more customers in the market. Rio Tinto is an Australian British multinational corporation which was founded in 1873. It is one of the biggest companies in metal and mining industry. Mainly, it focuses on the minerals and it is a dual listed company. Its head office is located in London. The firm produces iron, alumina, diamonds, coal, uranium, and bauxite. There are approx 50,000 employees are employed in the company. Currently, the company is expanding its business activities and operations across the world. Rio Tinto is a global player is mining and metals industry. The company is increasing its profits and revenue day by day (Castillo, Jess, de la Campa, Gonzlez-Castanedo, Fernndez-Caliani, Gonzalez Romero, 2013). Now the company is planning to start site operations and closure service from SGS. The company does not provide such kind of services to its customers. This new service will help to operate the business activities economically and efficiently and it will also fulfill the regulatory requirements of the company. The site operation and closure plan are very effective to demonstrate the environmental and social responsibility. This service will help to analyze and evaluate the on-site testing. It will also help in technical audit and investigation. The company should also provide the full set of innovative services to prepare the plant closure such as geotechnical studies, sustainable process design, and acid rock drainage estimating testing. The site operation and closure service can be a great opportunity for the company to increase the revenue and profit of Rio Tinto Company. It will help to reduce the waste impact on the various mining and metals site. Through the implementing of new service in the company, the firm can overcome on the competitors in the market. The BHP Billiton, Vale S/A, and Anglo American plc. are the main competitors of the company. Through this service, the company can gain various advantages in the market. It will help to reduce the emissions and water wastage in the market. Thus, it will provide satisfaction to those customers who are using the mining and metals products. It is the effective marketing plan to increase the long-term profit of the company (Castillo, Jess, de la Campa, Gonzlez-Castanedo, Fernndez-Caliani, Gonzalez Romero, 2013). Mission, vision and core competencies of the company The company is dealing in minerals and mining products in order to meet the long-term goals and objectives. The firm is making unique and effective strategies to gain the competitive advantages in the market. The association is reducing the harmful environmental impact and it is contributing to the group strategy on emissions and energy management. The company is trying to maintain a proactive culture in the association. The company wants to provide a forceful career path which allows the various people to expand their experiences in various commercial areas across the world (Floris, Grant Cutcher, 2013). The firm is playing a significant role in improving the customers position. The company wants to provide competitive advantages and strategic value through the innovative supply chain, reliable, and persistent focus on reducing TCO. Accountability, teamwork, respect, and integrity are the core values and competencies of the company. The company wants to be the universal mining lead er with maintaining strong leadership, innovation, and sustainable development. The mission of the company is to create the reliable policies and principles for all the groups according to with the company criteria on environment, society, and people for ensuring the sustainable development. Further, the main objective of the company is to maximize the shareholder return by sustainable development, mining and dispensation of natural resources. At Rio Tinto, the respect, integrity, accountability, and teamwork are highly valued and appreciated. The employees feel happy while working in the company. There is no discrimination on the basis of age, gender, social origin, religion, and politics. The employees work in the healthy and safe environment. The company conducts training and development programs to develop and build the employees skills, competencies, potentials within the group. Further, the company strategy focuses on the four Ps such as people, portfolio, partners, and perfor mance. To achieve the long-term goals and objectives, the company continuously focuses on the cost reduction, productivity, and capital discipline. Now it can be said that the Rio Tinto iron ore is in an effective great position to take the advantages of all opportunities and threats (Kunz Moran, 2014). Situational analysis and marketing strategy Through SWOT analysis identifies and evaluates the strengths, weaknesses, opportunities, and threats of the company. The situational analysis of the company can be understood by the SWOT analysis which is discussed below (Brueckner, Durey, Mayes Pforr, 2013). Strengths It is a well-known brand in Australia since 1873. Further, the company manufactures and produces the first class products. It is famous among people across the world and it is serving its products worldwide market (Koh, 2015). It is fourth biggest Mining Corporation in the world. The company deals in a variety of products such as diamonds, aluminum, copper, coal, uranium, gold, iron ore and materials which are used in the industry. The company has accepted the satisfy stakeholders and government through effective sustainable development and management. Competitive edge due to effective and innovative technology (Raufflet, Cruz Bres, 2014). Weaknesses The company is not able to face the risk in the country. Dependability on China generates vulnerability and exposures decline the prices of the commodity. The firm is struggling to attract the minority group employees and it is affected by the carbon tax also. The company is highly dependent on the current Australia metals and mines which are reducing the quality of products (Orgel, Kereszturi, Vczi, Groemer Sattler, 2014). Opportunities Expansion and growth of new mines and metals in India and Africa. It is increasing the demand for iron ore in India. It is maintaining corporation and collaboration with government to provide more effective licensing opportunities. The firm is replacing employees with automated machinery. The firm must invest in weak and poor segments (Vintr, Sanmiquel Freijo, 2014). Threats The prices of iron ore and copper are reducing. The economy downfall is affecting the overall financial performance of the company and employees as well. Natural disaster and environmental concerns. The financial crises exist in the European countries. Now it is assumed that entire strengths, weaknesses, opportunities, and threats affect the business activities and operation of the company. Thus, the company should analyze and evaluates entire risk and barriers which are existed in the market (De Waal, Orij, Rosman Zevenbergen, 2014). Marketing mix strategy The marketing mix strategy of Rio Tinto is very effective and excellent. The marketing mix strategy covers the 4 Ps (product, price, place, and promotion). They have been discussed below. Product: The Rio Tinto is a top leader in the major products. The major commodities include coal, oil gas, iron ore, and copper. The oil gas segment is the primary and main segment of the corporation. It is the world biggest leader in this segment. The supply of the commodity depends on the demography. The Rio Tinto plays a vital role to provide the supply of commodities to the entire world (Kruesman, 2013). If the company wants to introduce new product and service in the market, then it can use marketing mix strategy to gain the long-term profits and revenue. Price: The prices of products play a significant role in Rio Tinto Company. The prices of the products are based on the global market. These prices are changeable according to the market values. Thus, the pricing strategy of Rio Tinto Company is dependent on the external factors. The prices each and every product is changeable on the basis of time. The prices of the commodity are also dependent on the taxes that are levied by the government. Through pricing strategy, the company is able to provide various mines and metal products across the world (Ghalib Agupusi, 2014). Place: The places where these products are traded and these commodities are not based on a region. The products of the company are traded across the world. The raw material and other commodities are found across the world. The Rio Tinto is the biggest resource company. It is the biggest player in the field of raw material supplies (Kulkarni Rao, 2014). Promotion: The promotion strategy is an effective and strong strategy in order to meet the long-term goals and objectives of the firm. The company makes sure that the promotional strategy of the firm should be effective and unique. The firm is investing a huge amount to promote the products and commodities of the company. There are various sources of promotions such as radio, newspaper, and television. The company maintains highest CSR policies across the world. Through promotion strategy, the company is able to provide entire information about the products. Further, the company is also using unique advertisement strategy to attract more customers in the market (Castillo, Jess, de la Campa, Gonzlez-Castanedo, Fernndez-Caliani, Gonzalez Romero, 2013). Now it is assumed that Rio Tinto is using the effective marketing and situational strategies to gain the competitive advantages in the market. Evaluation and interpretation of current marketing plan Evaluation and interpretation are necessary to introduce the new service such as site operation and closure in the market. The result will be achieved through evaluation and interpretation of current marketing plan. The current marketing plan is to develop and implement the site operation and closure service in the Rio Tinto company. Further, interpretation of the existing marketing plan is used to promote and enhance the site operation and closure service in the target market. After various researches, it has been analyzed that this marketing plan will be the most appropriate and effective plan in order to meet the goals and objectives of the firm. The evaluation and interpretation are the part of the new marketing plan of the company. The current marketing plan of the company is unique and excellent and its depends upon the four Ps (portfolio, performance, people, and partners). The four Ps of the Rio Tinto has been discussed below. Portfolio: Portfolio plays a vital role in the marketing plan of the company. The portfolio is the world-class assets of the firm. The company uses the strategic framework to evaluate the new opportunities and existing assets (Pesmatzoglou, Nikolaou, Evangelinos Allan, 2014). Performance: The firm is using the innovative and effective technologies in order to meet the goals and objectives of the firm. Thus, the employees performance and capabilities play a vital role in the company. Through the effective performance, the company can manage the risk and capture the whole market across the world. The company focuses on the performance and efficiency of the employees. People: Human progress is the core value of the company. Through this strategy, the firm is able to attract, build, develop and retain the best employees in the market. The company is establishing the dedicated centers for the employees to identify and evaluate the commercial and technical capabilities (Klettner, Clarke Boersma, 2014). Partners: The partners play a vital role to manage the unique risk and secure the new sources in the market. The stakeholders of the company are known as the partners of the company. The stakeholders include the customers, investors, suppliers, government and local communities. After various researches, it can be evaluated and analyzed that Rio Tinto is using effective marketing strategy in order to gain sustainability in the market. Recently, the company has launched its diamond marketing program in China. It is the latest strategy of the company. This strategy is set to gain the various advantages of diamond for diamond trade and business. Rio Tinto has launched this China strategy in 2010. Through this strategy, Rio Tinto has become one of the biggest diamond producers in the world. Mainly, the company focuses on the marketing mix strategy to beat the competitors (Pesmatzoglou, Nikolaou, Evangelinos Allan, 2014). Through this strategy, the company can know and measure the plan, policies, and strategies of the competitors. It is the important source for the company to gain the success and growth in the market. Although the company is achieving the goals and objectives still some improvement is needed in the company. Rio Tinto needs to implement a busines s strategy that is beneficial and useful for its business activities to ensure the entire growth and success of the company. The company is achieving its objectives and goals by executing the new and effective strategies. The company must control on the various threats and obstacles in the market. It should look after the various strategies and plans of the competitors in the market. The firm must focus on the external and internal environmental factors which influenced the growth and success of the firm (Kulkarni Rao, 2014). After the starting of the new service, Rio Tinto needs to control and measure this service in order to review and evaluate the effectiveness and efficiency of the marketing plan. The actual result and standard output are compared after introducing the site operation and closure service in the market. Further, the company will use various promotional and advertisement strategy to encourage and enhance the use of new service in the market. Conclusion The report is based on the marketing strategy and policies in order to gain the long-term goals and objectives. It explains the marketing strategies and policies of the Rio Tinto company. It is the mining and metal company which deals in various kinds of products such as iron ore, mining, metals, uranium, and coal. It is one of the biggest leaders in coal and mining industry. It explains the benefits of the new technology and service within the organization. Now it is concluded that the company is using the exclusive marketing strategies and policies to gain the competitors benefits in the market. Further, the company must focus on the working environment and safety of the employees to gain long-term success and growth in near future. It should provide satisfaction to its customers to increase the revenue and profits of the company. References Brueckner, M., Durey, A., Mayes, R., Pforr, C. (2013). The mining boom and Western Australias changing landscape: Towards sustainability or business as usual?.Rural Society,22(2), 111-124. Castillo, S., Jess, D., de la Campa, A. M. S., Gonzlez-Castanedo, Y., Fernndez-Caliani, J. C., Gonzalez, I., Romero, A. (2013). Contribution of mine wastes to atmospheric metal deposition in the surrounding area of an abandoned heavily polluted mining district (Rio Tinto mines, Spain).Science of the Total Environment,449, 363-372. 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