MKG721 Marketing | Horticultural Industry of the Nation of Australia
Answer:
Introduction
The horticulture industry in the recent times has emerged as one of the major industries not only of the nation of Australia but also of the entire world itself (Carey et al. 2018). The horticulture industry of the nation of Australia is mainly concerned with the production of vegetables, fruits, flowers, nursery products, turf and others (Carey et al. 2018). The horticulture industry has become especially important in the context of the present growing population of the nation and at the same time the food scarcity the nation is facing on the score of this factor (Treeby, McConnell and Hincksman 2014). Furthermore, the expanding horticultural industry also provides valuable employment opportunities to the people since it is seen that the industry for the year 2012-2013 provided jobs to more than 56,000 in the nation of Australia (Agriculture.gov.au 2018). The below give figure provides an overview of the financial aspects of the concerned industry-
Figure 1: Financial overview of the horticultural industry
Source: ausveg.com.au, 2018
Some of the major horticulture industry centers of Australia are located at Goulburn Valley of Victoria, northern Tasmania, southwest Western Australia, Riverland region of South Australia and others (Agriculture.gov.au 2018). The below give figure gives an overview of the production of the horticultural industry of the nation-
Figure 1: Production of the horticultural industry of Australia
Source: ausveg.com.au, 2018
This report will undertake a market analysis of the horticulture industry of Australia.
Market Analysis
Porter’s Five Forces Model is one of the most commonly used frameworks that are being used to analyze the market conditions in which a particular business enterprise is operational. The below give figure provides an overview of the model under discussion here-
Figure 1: Porter’s Five Forces
Source: (Created by the Author)
An analysis of the horticulture industry of Australia would reveal the following facts-
Threat of New Entrants
The horticultural industry of the nation of Australia is being regulated by the various departments of the national government of the nation like “Department of Agriculture and Water Resources”, “Australian Society of Horticultural Science (AuSHS)”, “Horticulture Innovation Australia” and others (Agriculture.gov.au 2018). In addition to this, it is generally seen that the majority of the horticulture business enterprises in the nation Australia have been operational for a very long time and have already established their monopoly over the business market of the nation (Treeby, McConnell and Hincksman 2014). Thus, it would be apt to say that the business enterprises that are operational in the horticulture business market of the nation face very little threat from the new entrants in the same field of business. The below given figure indicates the size of the horticultural farms of the nation of Australia-
Figure 2: Size of the horticultural farms of Australia
Source: ausveg.com.au, 2018
Bargaining power of the Suppliers
The industry under discussion here as such does not take the help of any major external suppliers for the process of their business and most of the products offered by them to the customers from the different part of the nation are being cultivated by them (Hulme et al. 2018). In addition to this, it is generally seen that the industry takes the help of the recent innovations as well as technology for the enhancement of the amount of products manufactured by them (Aldous, Loch and Prince 2014). In this particular context mention needs to be made about “Horticulture Innovation Australia Limited (Hort Innovation)” which invested more than $9 billion for R&D purposes in the horticultural industry (Centre et al. 2018). Therefore, it can be said that the bargaining power for the suppliers is very low in this particular industry.
Bargaining power of the buyers
The products that are being offered by the various enterprises operational in this particular industry are being commonly used by the majority of the people of the nation of Australia. However, in the present times it is seen that the emergence of various kinds of readymade food products as well as technologically advanced food products and others have not only significantly enhanced the options that are available to the customers but at the same time is adversely affecting the industry (Ariyawardana, Ganegodage and Mortlock 2017). Therefore, it would be apt to say the increased options that the buyers are now having at their disposal are adversely affecting the prospects of the industry in an adverse manner.
Industry Rivalry
There are various enterprises that are operational in the horticultural industry of the nation of Australia and most of them offer the same kind of products to the customers. In addition to this, it is seen that the industry is being regulated by the national government of the nation and this particular fact ensures that almost all the enterprises related to the industry are getting the same kind of opportunities (Agriculture.gov.au 2018). Thus, it would be apt to say that there is a considerable amount of rivalry among the different enterprises that are operational in the horticultural industry of the nation and this affects the prospects of the various business enterprises related to the industry in a significant manner. The below figure provides an overview of the products produced by the industry-
Figure 2: Vegetables manufactured by the horticulture industry in 2017
Source: ausveg.com.au, 2018
Threat of substitution
As already mentioned that the industry is being regulated by the national government of the nation and thus they are provided by the nation with the same kinds of opportunities. Furthermore, the threat of the new entrants in the industry is very less and thus it would be apt to say that the threat of substitution that the enterprises face from the other enterprises is very less (Werren 2015). Yet at the same time it needs to be said that the threat that the industry faces from the various readymade and artificially manufactured products is very high (Ariyawardana, Ganegodage and Mortlock 2017).
Conclusion
The horticultural industry has emerged as one of the major ones of the nation of Australia on the score of the various kinds of products as well as services that they offer to the customers. In addition to this, it is also seen that the food products offered by the concerned industry are not only naturally produced but at the same time very safe. Furthermore, the market analysis of the industry under discussion here indicates that the threats in the national market of Australia that they face is very less and thus it would be apt to say that the nation of Australia is an ideal one for the business of the horticulture industry.
References
Agriculture.gov.au. 2018. Vegetable industry. [online] Available at: https://www.agriculture.gov.au/abares/research-topics/surveys/vegetables [Accessed 8 Aug. 2018].
Aldous, D.E., Loch, D.S. and Prince, R., 2014, August. Valuing the Australian lifestyle horticulture industry. In XXIX International Horticultural Congress on Horticulture: Sustaining Lives, Livelihoods and Landscapes (IHC2014): XVII 1103 (pp. 17-24).
Ariyawardana, A., Ganegodage, K. and Mortlock, M.Y., 2017. Consumers' trust in vegetable supply chain members and their behavioural responses: A study based in Queensland, Australia. Food Control, 73, pp.193-201.
Carey, R., Krumholz, F., Duignan, K., McConell, K., Browne, J.L., Burns, C. and Lawrence, M., 2016. Integrating agriculture and food policy to achieve sustainable peri-urban fruit and vegetable production in Victoria, Australia. Journal of Agriculture, Food Systems, and Community Development, 1(3), pp.181-195.
Centre, G., Expo, G., Markets, A., SA, V., Bairnsdale, T., Mapping, I. and Federation University, R. 2018. Hort Innovation | Australia's horticulture RDC. [online] Horticulture.com.au. Available at: https://horticulture.com.au/ [Accessed 8 Aug. 2018].
Hulme, P.E., Brundu, G., Carboni, M., Dehnen?Schmutz, K., Dullinger, S., Early, R., Essl, F., González?Moreno, P., Groom, Q.J., Kueffer, C. and Kühn, I., 2018. Integrating invasive species policies across ornamental horticulture supply chains to prevent plant invasions. Journal of applied ecology, 55(1), pp.92-98.
Treeby, J., McConnell, S. and Hincksman, M., 2014, August. The Horticulture Industry Network–an innovative model for capability building and collaboration? A review. In XXIX International Horticultural Congress on Horticulture: Sustaining Lives, Livelihoods and Landscapes (IHC2014): Plenary 1126(pp. 227-230).
Werren, J., 2015. Country of Origin Labelling and Purchasing Cut Flowers in Australia: What Are the Social and Moral Considerations for Consumers. AJEL, 2, p.77.
Buy MKG721 Marketing | Horticultural Industry of the Nation of Australia Answers Online
Talk to our expert to get the help with MKG721 Marketing | Horticultural Industry of the Nation of Australia Answers to complete your assessment on time and boost your grades now
The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.
