Vi. Contingencies. Unexpected Events In The Marketing Plan,

1233 WordsApr 23, 20175 Pages
VI. CONTINGENCIES Unexpected events in the marketing plan, sales projections, revenue and unpredictable target market reaction, depend on factors outside Wolf’s control. As a result, contingencies necessary to mitigate those risks include provisions for action when the unexpected results materialize. The following table of risks is an attempt to identify the sources of uncertainty and analyzes the likelihood of an event taking place. It includes a potential risk, an evaluation of the level of probability and impact, as well as plans to mitigate those risks. Internal: RISK PROBABILITY IMPACT MITIGATION Loss of key marketing personnel High Med Incentive plans. Each team member will share in the success of the project at the conclusion of…show more content…
If not, then outsourcing legal counsel is required. Underperforming referral process Med High Training is key to the success of this undertaking. Team members need to fully understand the importance the hospital referral process is to the success of the operation. Hospitals need to be given an incentive to refer patients. First and foremost is a quality product that they would want to send their loved ones to. Competition High Low When the word gets out that the solution is generating revenues, the competition will follow. At that time Wolf will be the market leader, so the impact will be low. Natural disaster Low High In the event of a natural disaster, the team will follow the company’s disaster recovery plan. Miscalculating target market Med High Perform thorough market research. Survey potential customers. increase in costs Med Low Build in contingency costs into the Budget Surge in demand Med Low The impact of a surge in demand effects cash flow. This is a case where operational expenses increase more than expected putting a great demand on cash. This positive results problem needs to be communicated immediately to the executive team. Reduction to the impact of the risks outlined above, as well as other unidentified risks, depend on continuous monitoring by the marketing team. Therefore, it is essential to add the topic of risk as a line item discussion to the weekly team meetings with documented meeting minutes used in

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