MRKT20052 Management and Digital Communications Marketing
Discussion of the segmentation, targeting and positioning approach:
A discussion on the potential customer segments for your product or service and which one(s)
you wish to target with good justifications. Also, discuss the desired positioning for the
product or service. Develop a clear positioning statement. Specifically, you will be assessed
On the following aspects:
- a) Problem statement
- b) Discussion of potential market segment
- c) Discussion of target market and positioning
Set 3 marketing and 3 financial objectives:
Provide realistic marketing and financial objectives. Specifically, you will be assessed on the following aspects:
- a) Marketing objectives and goals
- b) Financial objectives and goals
Formulation of a detailed marketing mix strategy:
should cover specifics of the product, price, promotion and place aspects. Specifically, you will be assessed on the following aspects:
- a) Marketing mix – how are they to be applied?
- b) Marketing strategy proposed implementation
Question:
Introduction
Natural evolution is the organic food and beauty products selling company in Walkamin, Australia. It supplies raw food products and ready to launch new products in the market. The company has some opportunities and some threats which will be analysed in the presentation.
In this report, the structure and design of the company is focused upon for the purpose of organisational analysis. The overall performance of the company based on different parameters will be assessed. The company is launching new product; its background is as follows
Background of product
Natural evolution has launched new product viz Natural Evolution Banana Bread which I smade up of high quality ingredients only. The specialty of this product is that it is gluten free and suitable for the persons who want easy versatile. It is available as a packet 0f 5 premixes. The customer can choose the pack according to his or her need. It is made up of flour grown in unique environment of Australia so this is a pure national product launched by the company for people who are looking to have organic food.
Situational analysis
Customer analysis- the company targets everyone but it gives priority to the persons aged between 20-50 years. Some products of the company are used by elderly also . so they are also in the fray but most of the products like beauty bar are meant for the persons aged between 20-50 years(Chaplin, 2014).
Competition analysis- competitors are ahead of the company. They supply the same kind of products at lower rates as the manufacturing cost in their institutions is less(Goodman, 2001). Natural Evolution will analyse how it can reduce its manufacturing cost and be competitive in the market.
Other stakeholder analysis-
Employees- there is no doubt in the efficiency in work of employees. Because of sound recruitment policy. The company has talented persons in the market. But because of poor work culture, they are not able to contribute fully.
Financiers- financiers are adamant and changes in the company are not readily acceptable to them (Xiong, 2017).
Executives – They are supportive and friendly. They help in immediate solving of the problem
Government- it is supportive bit there is political instability (Naser, 2017). This can cause major problem in future
Small scale investors – they are supplying major amount of capital resources to the company (Sheenam Garg, 2017). In addition to this, they are happily earning profit.
SWOT analysis
Natural evolution supplies only quality products so it has good image in the market. It has built this image because of efficient employees working it. The recruitment is done on the basis of talent only. This has led to generation of profit for last few years. So the company is in good financial health and ready to implement the changes.
Weaknesses
Company, though doing well on economic front, has poor work culture as there is no participation of all the employees in the working. Juniors are never taken into confidence while implementing any change and they are not able to show their full potential. In addition to this, the company is not able to compete in the market because same kind of product is supplied by competitors at low prices. The high manufacturing cost is increasing the retail price of the products.
Opportunities
The market size is continuously increasing. Demand of the product is also high in market as number of people is concentrating on gluten free diet. So the company has very good chances to show its full potential. The government is in support of trade and business and the location of the company is at a strategic place. The company is in the middle of the town from where it can supply products to the customers easily and efficiently.
Threats
Customers are changing their taste readily. By the product is manufactured and supplied, there may be chances that customers get lured by any other product. That may lead to unnecessary stock building. There is large number of competitors in the market. In addition to this, the government is supportive but there is instability in the political arena. It is not sure that for how much time the supportive government will remain in power.
Environmental analysis
Political- it has already been discussed that there is political instability in the country though current government is supportive in nature.
Economic- the GDP has been 4% in previous quarter which shows that economy is growing at average rate.
Societal- the customers are ready to buy organic products. In addition to this, the society is diversified but supportive in effort. The company can very easily assimilate itself into the culture of local population.
Legal- the company adheres to all national and international norms. So, till now, it has not been mired with any controversy. As a result of this, the legal cost for the company is negligible.
Technological – this is important to note that the company is using obsolete technology. Because of poor work culture, creativity and innovation is distant away from the working of company. Efficiency shown by employees is getting wasted on obsolete technology.
Conclusion
The company is in sound financial health so it can readily implement the changes. Without reforms, the company will not be able to sustain itself in the competitive market. The company has lot of opportunities in the future to expand its business. Hopefully the company will scale new heights.
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