MNG91002 Entrepreneurship and Marketing Management

Answers:

Activity 1

Clean Up Australia is a non-profit organisation set up for the purpose of keeping the country clean from any wastes. Hence, the company have to collaborate with communities, business organisations and Government. In my opinion, among the 7Ps of marketing, the one element that the company uses effectively is the promotion strategy. This according to me is an important aspect to achieve the aims and objectives of the organisation, as awareness among the people about a clean environment is essential. The exchange that takes place between Clean Up Australia and other business organisations is the fact the trust and charity that can help in achieving the goals. The company does not seek profit for it rather the amount of money earned from the charitable trusts is devoted to purchasing equipment for cleaning up the country (Cleanupaustraliaday.org.au 2017).  

In my opinion, the little information provided by Billabong about its products cannot attract customers. This is because the first priority of the customers is to identify whether the equipment used for skiing and skating are safe and authentic. Without providing such knowledge, Billabong cannot establish a healthy relationship with its target market. In the present scenario, the current information derived from the website is not sufficient (Billabong.com.au 2017).

Activity 2

Nestle has been promoting the sale of medicated lozenges to the people who often remain sick. This important innovative product can help to attract those people with a slight sickness or ability to catch a cold. The company aims all types of people for the distribution of the product. This creates a wide range of people to choose from while promoting the product and setting up its price (Nestle.com.au 2017). In my opinion, the product and strategy adopted by Nestle for the sale of the product can be a huge success among the people. This is mainly because of the fact such products are easy to carry and people suffering from any kind of sickness can use it without the prescription of a doctor. Although the effects of such a product can be temporary, its can still attract a large section of the Australian population. Hence, I believe that with the innovative nature of the product, easy to carry quality and the instant stress reliever can help the company to remain successful with the launch of this product. In this regard, the use of a proper marketing mix is required for the successful promotional campaign of the medicated lozenges.  

Activity 3

Distribution of income refers to the equal distribution of wealth among the members residing in a society. The average of the income incurred by the people is calculated and based on that the income distribution is determined (Bliss 2014). In my opinion, the distribution of income in Northern Territory and in the North Island may be unequal. This is mainly because of the fact that the regions do not have a high population that is capable of earning incomes. For example, in North Island, income is generated more by the people residing in Auckland as the population is dense in that city rather than in other parts of the island. This leads to the unequal distribution of income among the society. About 79% of the national GDP is derived from the North Island. However, it is a different issue in Northern Territory. With the growth of major projects related to construction, the economy of the state has increased considerably. According to the observations made by me, this is indicative of the fact that the distribution of income is largely equal. With certain cities close to other reputed cities in Australia, the people of Northern Territory have a decent economic growth.

Activity 4

The aim of Unilever, P&G and Wesfarmers are to develop a competitive advantage and establish a reputation in the market. In this context, it can be said that the three companies have a proper market segment that helps to identify customers. The market segmentation is based on the products it manufactures and the prices set for the product. For example, in the case of P&G the company aims to treat every member of the society as equal. Hence, segmentation is done less by the company (Anz.pg.com 2017). On the other hand, companies like Wesfarmers develop products that are mostly household items (Wesfarmers.com.au 2017). However, a company such as Unilever aims at creating a social impact. Thus, the segmentation is based on every member of the society (Unilever.com.au 2017). After analysing the segments, I can recommend certain changes for the three companies. The companies can target the market based on the demography at which they are working. This can help the companies to vary the prices in every region and ensure that profit can be made despite the low cost of sales. This can help the companies to remain effective in the market and improve the growth rate extensively.

Activity 5

In the modern world, every country is undergoing changes in the population due to the immigration of people. However, at times the changes can also bring about negativity in the business (Miller 2013). This is because the change in demography mainly takes place due to an economic crisis that arises in a country. Thus, a business set up in a part of a country can suffer losses due to the economic collapse and loss of people. Unlike previous business scenarios where baby boomers played a vital role for the management of business, today’s generation have to deal only with economic crisis. Baby boomers were considered to be marketers that believed in maintaining traditional brand of products. In this regard, I can provide my opinion regarding the industries that can benefit from the demographic trends. Retail industries, technological industries and real estate industries can benefit heavily from the continuous demographic changes. This is because with the change in demography, particularly with the migration of people, these industries can benefit by employing labour and increase the sales. The diversity of products provides an advantage to these industries and takes it beyond the concept of baby boomers. Thus, the changes in demography trends can be beneficial for these industries as well as most people.

Reference

Anz.pg.com. (2017). Home. [online] Available at: https://anz.pg.com/ [Accessed 24 Aug. 2017].

Billabong.com.au (2017). Billabong Mens Australia | Billabong. [online] Available at: https://www.billabong.com.au [Accessed 24 Aug. 2017].

Bliss, C.J., 2014. Capital theory and the distribution of income (Vol. 4). Elsevier.

Cleanupaustraliaday.org.au. (2017). Clean Up Australia Day - Official Site. [online] Available at: https://www.cleanupaustraliaday.org.au/ [Accessed 24 Aug. 2017].

Miller, A.R., 2013. Demography for Business Decision Making. Journal of Consumer Marketing.

Nestle.com.au. (2017). Home. [online] Available at: https://www.nestle.com.au [Accessed 24 Aug. 2017].

Unilever.com.au. (2017). Home. [online] Available at: https://www.unilever.com.au/ [Accessed 24 Aug. 2017].

Wesfarmers.com.au. (2017). Home. [online] Available at: https://www.wesfarmers.com.au/ [Accessed 24 Aug. 2017].