Planning And Optimizing Your Digital Marketing – Free Samples
Question:
Answer:
Introduction
This assignment will be based on the marketing plan of Nexba beverages, which was started in Australia by two people. The marketing plan will consist of the situation analysis along with the major problem that the company is facing so that better solutions can be provided to the company. The company needs to identify the potential market segments so that the sale of the product can be increased in the Australian scenario. The report will also provide better insights regarding the position of the company in the market so that the objectives and goals of the marketing purpose can be set in a proper manner. The marketing plan will also provide the strategies that will be used for promoting the products in the market so that the company can earn better returns.
Situation analysis
PESTLE analysis
The company makes it a point that the products meet the policies and regulations that are set by the Australian government so that it can increase the likeliness of the products among the customers. The laws of labour that are present in the country are followed in a proper manner so that the employees that are hired by the company can work in a friendly environment (Freire et al., 2014).
The products of the company are distributed throughout the country, which results in increasing their level of profit. The company follows the tastes and preferences of the customers so that it can enable them in increasing their demand in the market. The production of health drinks by the company has resulted in attracting the customers present in the market to a great extent (Colchero et al., 2015).
Since the products of the company are available within the country, it has been produced by understanding the culture and the customs that are present in Australia. The production of healthy products by the company has resulted in increasing the demand of the products in the market by the customers. The company has a better knowledge regarding the health trends that are present in the market, which has led to manufacturing the products according to the needs of the customers (Grekova et al., 2014).
Since the company was formed recently, it has allowed them in installing the latest and advanced technologies so that the production can be increased to a great extent. The use of the latest technologies has resulted in decreasing per unit cost of production and the beverages are made in a proper manner as well. It has also allowed the company in using the social media platforms so that the products can be marketed in a proper way (Zhen et al., 2013).
The company also follows the legal policies that are present in the market so that it does not face any legal implications in the market. This allows the company in carrying out its business operations in a proper manner.
The company also adheres to the environmental factors by keeping a check on the pollution levels along with ensuring that the water that is used for the production of the beverages are not polluted to a great extent. This has resulted in increasing the goodwill of the company as well in the market (Jebabli, Arouri & Teulon, 2014).
SWOT analysis
The strengths of the company is that it the products are manufactured in a natural manner and no extra sugar is added within the drink. This allows the drink o be natural and original. The company also advertises the products in a proper manner so that it can result in increasing the attraction in the market. Another strength of the company is that it has a strong loyalty among the customers, which results in building up of the brand image in the market due to the increase in the satisfaction of the customers (Colchero et al., 2015).
The weaknesses of the company is that it has not tapped the resources that are present on a global manner, which may result in increasing the popularity of the company in the international markets as well. Another major weakness for the company is that Coca-Cola has also launched a beverage that does not have any additional sugar in it. The size of the company is huge, which may be able to attract the customers present in the market in a better manner (Alonso-Almeida, Llach & Marimon, 2014).
The company needs to diversify its products according to the target market so that it can help them in gaining more number of customers. The diversification of the products will also result in increasing the number of alternatives in the market so that the customers do not get bored with the same products. The company also needs to launch the products in the developing nations so that it can help in increasing the level of profit for the company. The developing nations will provide an opportunity for the company to grow on a large scale, as the economy tends to develop in these nations (Zhen et al., 2013).
The threats that are present to the company is the other beverage companies that are present in the market. Companies like Coca-Cola and Pepsi has a wide range of customers who are loyal towards the products, which will make it difficult for Nexba to increase its sale in the market. The sourcing of raw materials is yet another problem for the company, as most of the raw materials are provided to the competitor companies due to the high rate that they give to the suppliers (Hildenbrand, 2014).
Competitor analysis
The company has many competitors in the market and the most significant companies are Coca-Cola and PepsiCo. This is due to the fact that they are in business within the Australian market for a long period and has a strong base of customers. Most of the products that are offered by these companies are liked by the customers, which has also affected their operations in the market in a positive manner. The major factor that will affect Nexba beverages is the factor of price, as the products of the competitors are offered at a lower price, which has resulted in increasing the demand among the customers (Beard, 2013).
Stakeholder analysis
This analysis helps the company in understanding the important stakeholders that will result in understanding the needs that are present in the market. The main stakeholders of the company are the suppliers who supplies the raw materials to the company. The supply of better quality products results in increasing the quality of the finished products as well. The customers are also an important part of the company, as they would help in increasing the level of profit for the company. The company needs to produce the beverages according to the needs of the customers so that it can result in increasing the level of profit for the company (Grant, 2016).
Problem Statement
The main problem that the company is facing is the fierce competition from companies like Coca-Cola and PepsiCo. These companies are already present in the market for a long period and Coca-Cola has introduced the no sugar coke as well, which is providing stiff competition to the company. Another major problem of the company is that it is not being able to market the products in a proper manner due to the use of the wrong strategies.
This problem has to be addressed by marketing the products of the company in a proper manner so that it can increase the attractiveness of the product in the market.
Potential market segments
Market segmentation is an important part that the company needs to take in to consideration, as it will help the products to be sold in a proper manner. It will help the company in understanding the target population so that the products can be segmented accordingly. The company needs to evaluate the wants, needs and demands of the customers so that the products can be delivered to them, which will help in satisfying the demands (Armstrong et al., 2015).
The demographic segmentation allows the company in selecting the right population so that the products can be delivered to them. The demographic segmentation will help the company in dividing the population based on gender, income, age and religion of the people. The demographic segmentation will allow the company in setting the price in a proper manner so that it can help in providing the products to the right customers. The segmentation of the customers need to be done according to their income so that the company so that increase the sale of the products (Wrenn & Mansfield, 2014).
The behavioural segmentation will help the company in dividing the population between the decision-making capacities of the customers along with the frequent usage of the product. This segmentation will allow the company in selling the product among the customers who are in need of the product. Since the beverages do not contain any added sugar, it will attract the customers who are physically fit (Chaffey & Smith, 2013).
The psychographic segmentation will help the company in understanding the lifestyle of the people along with their interests so that their opinions can be taken in to consideration while supplying the products in the market. The buying pattern of the consumers will help the company in understanding the psychological needs so that the products can be provided to satisfy the needs and demands of the customers (Baker, 2014).
The geographic segmentation will help in segmenting the products according to the geographical location of the customers. Since Australia is mostly humid, it will allow the company in selling the beverages across all parts of the country so that it can help in meeting the demands of the customers (Mooradian, Matzler & Ring, 2013).
Target market positioning
Fig 1: Positioning Map
(Source: Created by Author)
The company will be placed in the high quality low price bracket, as it will allow the company in attracting more number of customers. The company will be able to increase its sales in the market by gaining a competitive advantage in the market, which will allow them in increasing the rate of penetration in the market. The better quality of products will be maintained since it will allow the customers in being attracted towards it. The lower price that will be set by the company in the initial years will result in increasing the demand of the product in the market as well among the customers (Piercy, 2014).
Marketing objectives and goals
The marketing objectives have to be set in a proper manner so that it can allow the company in understanding the needs of the market and increase the level of profit in the market. The company will have to increase its products supply in the market so that it can result in grabbing the attention of the customers. The marketing objective of Nexba Beverages is to increase the outflow of the products in the market so that the customers can purchase it and provide competitive advantage to the company (Fine, 2017).
Financial objectives and goals
The financial goals of the company is that it will increase its profits by supplying better quality products in the market so that the customers can be satisfied. It will also result in increasing the level of productivity within the company as well (Baker, 2014).
Marketing strategy and marketing mix
The marketing mix will allow the company in understanding the various choices that are present to them so that the process of launching the product in the market can be successful.
The product of the company is the various fruit beverages that are produced in an organic manner without the use of sugar ingredients. This will allow the product to be natural and provide the nutrients to the customers as well. The customers of the company will be the people who are concerned with their body and does not consume the foods that are harmful to the body (Ayub et al., 2013).
The place where the products will be distributed will be in different parts of the country along with the supermarket stores as well. It will allow the company in grabbing the attention of the customers towards the product, as the store shelves will be displaying the product so that it can be purchased in an easy manner (Johnston & Bate, 2013).
The price of the beverages will be kept low so that it can allow the company in gaining a competitive advantage in the market. It will also help in increasing the sale of the products in the market so that the rival companies are forced to give the products at a competitive price as well.
The adoption of the right promotional strategies will result in increasing the presence of the product in the market so that the customers can be aware of it. The awareness that is spread among the customers will result in increasing the sale of the beverages in the market as well (Chaffey & Ellis-Chadwick, 2016).
Implementation and control
The implementation of the marketing objectives has to be done in a proper manner so that it can succeed in the market. This will allow the company in gaining better benefits so that the level of awareness among the customers can be increased.
The research that will be undertaken by the company will result in understanding the wants and demands of the customers so that it can be analysed in a proper manner and the right products can be supplied in the target markets (Ayub et al., 2013).
Promotion mix
The company will have to advertise the products in an extensive manner so that it can result in increasing the level of awareness among the customers. The use of advertising will result in improving the relationship with the customers by the company so that the feedbacks can be collected in a proper manner. The company will take the help of social media platforms, as it will result in attracting the young people. As most of the population in the recent times are hooked to sites like Facebook, Twitter and Instagram, which will help the company in attracting the potential customers (Rowley, 2016).
The company can sponsor the sports events, as the product is made naturally that will help in providing health benefits to the sports people. The endorsements of the sportspersons will result in increasing the sale of the company as well (Baker, 2014).
Conclusion
Therefore it can be concluded that the company needs to increase its market penetration by using the promotional techniques for the products so that it can help in spreading awareness among the customers. This would result in increasing the level of profits for the company as well. The marketing objectives that are set by the company will help them in understanding the target market for whom the products will be directed. This will also result in understanding the behaviour of the customers towards the products that are being provided by the company.
Reference List
Alonso?Almeida, M., Llach, J., & Marimon, F. (2014). A closer look at the ‘Global Reporting Initiative’sustainability reporting as a tool to implement environmental and social policies: A worldwide sector analysis. Corporate Social Responsibility and Environmental Management, 21(6), 318-335.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
Ayub, A., Adeel, R., Muhammad, S. A., & Hanan, I. (2013). A conceptual framework on evaluating SWOT analysis as the mediator in strategic marketing planning through marketing intelligence. European Journal of Business and Social Sciences, 2(1), 91-98.
Baker, M. J. (2014). Marketing strategy and management. Palgrave Macmillan.
Beard, R. (2013). Competitor Analysis Template: 12 Ways To Predict Your Competitors’ Behaviors. Client Heartbeat [viitattu: 20.6. 2016]. Saatavissa: https://blog. clientheartbeat. com/competitor-analysis-template.
Chaffey, D., & Ellis-Chadwick, F. (2016). Digital marketing. Prentice Hall.
Chaffey, D., & Smith, P. R. (2013). eMarketing eXcellence: Planning and optimizing your digital marketing. Routledge.
Colchero, M. A., Salgado, J. C., Unar-Munguía, M., Molina, M., Ng, S., & Rivera-Dommarco, J. A. (2015). Changes in prices after an excise tax to sweetened sugar beverages was implemented in Mexico: evidence from urban areas. PLoS One, 10(12), e0144408.
Fine, S. H. (2017). Introduction to social marketing. In Marketing the Public Sector (pp. 1-12). Routledge.
Freire, A. L., Ramos, C. L., de Almeida, E. G., Duarte, W. F., & Schwan, R. F. (2014). Study of the physicochemical parameters and spontaneous fermentation during the traditional production of yakupa, an indigenous beverage produced by Brazilian Amerindians. World Journal of Microbiology and Biotechnology, 30(2), 567-577.
Grant, R. M. (2016). Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Grekova, K., Bremmers, H. J., Trienekens, J. H., Kemp, R. G. M., & Omta, S. W. F. (2014). Extending environmental management beyond the firm boundaries: An empirical study of Dutch food and beverage firms. International Journal of Production Economics, 152, 174-187.
Hildenbrand, W. (2014). Market demand: Theory and empirical evidence. Princeton University Press.
Jebabli, I., Arouri, M., & Teulon, F. (2014). On the effects of world stock market and oil price shocks on food prices: An empirical investigation based on TVP-VAR models with stochastic volatility. Energy Economics, 45, 66-98.
Johnston, R. E., & Bate, J. D. (2013). The power of strategy innovation: a new way of linking creativity and strategic planning to discover great business opportunities. AMACOM Div American Mgmt Assn.
Mooradian, T., Matzler, K., & Ring, L. (2013). Strategic marketing: Pearson new international edition. Pearson Higher Ed.
Piercy, N. (2014). Export Strategy: Markets and Competition (RLE Marketing). Routledge.
Rowley, J. (2016). Information marketing. Routledge.
Wrenn, B., & Mansfield, P. M. (2014). Marketing planning guide. Routledge.
Zhen, C., Finkelstein, E. A., Nonnemaker, J. M., Karns, S. A., & Todd, J. E. (2013). Predicting the effects of sugar-sweetened beverage taxes on food and beverage demand in a large demand system. American journal of agricultural economics, 96(1), 1-25.
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