MKT portfolio - Grade: pass PDF

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MARKETING PORTIFOLIO

Harsh Joshi 45194971 09/10/2017

1. Market Research and its use in a marketing plan. This means sourcing an example that demonstrates the use of market/marketing research to determine marketing objectives, strategies or tactics. ANS: 1. Macdonald’s Australia, a major fast food company planned a new format of burger menu, by introducing create your taste, 24/4 breakfast and McCafe. McDonald’s strategical and tactics reviled around the use of the digital media to provide the company with information to expand their menus. The key objective of MacDonald to spend over triple their media budget (in the past 5 years) was to keep the edge in the fast food industry and beat the competition. This investment by the company has shown a drastic difference as their marking tactics have allowed for a greater advantage form other international franchise. According to statistics 21% of a drop-in profit and a decline in (roughly 7%) the USA’s revenue. McDonald’s Australia’s strategies were to gather information form the social media and public outcry to change or improve their stores. The companies use of Instagram and twitter allowed for the marketing team to gather and study concerns and changes for the industry. The creation of the allday breakfast was created by a twitter hashtag which grabbed the attention of McDonald’s executives and thus implemented changes to a 24/7 breakfast menu. Gathering the information for the social media as a strategy has allowed greater marginal benefit for the company to be the leading in the fast food industry. The most prominent tactic used by McDonalds was the “giant lunchbox” during the launch of their new menu items and gourmet “create your taste” burgers. The launch of the giant lunchbox grades the attention of customers in Sydney and thus created awareness nationwide. McDonalds tactics to create a giant lunchbox was not only to attract people but also allow new food items to be tested for free. Data would then be collected and analysed by the marketing team. Using this tactics McDonalds could mass produce the most popular food item.

2. Who are the competition for your favourite product? This means sourcing an example that demonstrates the impact competition (an external factor) has on your favourite product and thus influences marketing objectives and strategies. Ans: The smartphone industry is a highly completive market, for a company to strive they must have a strong marketing team. External factors play a key role in the industry as there are few to none, internal factors separating them. A prime example of this is the rivalry between Apple and Samsung smartphones. Apply success in persuasive marketing, has allowed it to have an edge over Samsung for many years. The impact of marketing in the competition has allowed apple to gain more attention than Samsung. Apples key objective is to keep everything simple including their marketing. Achieving the objective of simplicity, Apple applies a 7-point strategy to achieve their marketing goals. With the fast-paced advancements in technology, Apples competitors have similar features to the iPhone but the method of simplicity and customer preferences has allowed it to keep increasing in sale (even with high prices). While other companies use complex jargon, while Apple use of “edge to edge” rather than jargon allows for a greater connection to the customers. Furthermore, Apples ability to make something ordinary to something beautiful allows them to attach to the customer. Companies such a Samsung use of over simplification leads to confusion while Apple executes this by influencing people to imagine the phone is not just a phone rather an

iPhone, the marketing team’s ability for the customers to fully emerges into the phone and believe that there is nothing better and thus allowing a strong customer bond. Another key strategy to achieve their objective Apple will ignore the critics but rather listen customers to gain a friendlier relationship, therefore allowing a strong fan base. Therefore, there has been a minimal impact with their competitors, due to their strategies to achieve their objective in keeping it simple and a greater customer attention, achieving loyalty.

3. PESTEL and how this affects the introduction of a new product or service. This means sourcing an example of a new product or service first, and then explaining how each factor in PESTEL affects entry into the market. Ans: The international giant Starbucks introduction into Australia has been a slow process with minimal responses form the Australian market. This occurrence is due to the PESTEL environment and competition with other coffee brands such as Gloria jean (GJ). Political: Starbucks introduction into the Australian market invited a unique method of having coffee. Bring on new and various seasonal flavours Starbucks aimed to adhere to the Australian market. The key political difficulty in this was the strong Australian market held by their competition GJ, being a local company people prefer to support their own brand rather than an international brand. Economical: For Starbucks to expand their market in Australia they should be able to maintain cheaper option but at the same time have pleasing taste. Difficulties faced by the company economically in Australia will the target market as GJ aim for daily users Starbucks can try to connect with teen or youth who are not economically stable, creating a uncertainty in the Starbucks market in Australia. Social-cultural-influences: Starbucks attempt to launch in Australia has been a difficult transition due to the strong coffee culture in Australia. Undoubted Australian coffee has different taste to the American coffee and thus Starbucks launch in Australia creates contradictory influence in the Australian market. Australian coffee culture revolves around the fresh and strong-tasting coffee flavours, while Starbucks coffee is revolved around sweet and flavoured coffees which creates a social-cultural influence in the success of Starbucks in Australia. Technological: Starbucks key advantage in the market is its ability to have a strong social media influence form celebrity endorsement to bright and colourful drinks. Starbucks ability to allow people to order online and pick up allows a market edge to grow over the Australian population but challenged my MCafes as a competitor has voided their ability to gain the greater advantage. Environmental: Starbucks use of reusable and recycled products, creates positive carbon foot print and thus a positive image in the market. Legal: There are not many legal differences that Starbucks must follow in Australia but they must adhere changes to the Australian law such quantity per serving etc to adhere to the Australian consumers. 4. SWOT analysis and its use in the marketing plan. This means sourcing an example that demonstrates how SWOT is used by a company to guide decisions related to the marketing mix or other elements of the marketing plan. Qantas airlines marketing plan has been done through the SWOT analysis to achieve it objectives.

Strengths: Qantas airlines statistics have shown it to be one the world’s safest and most reliable company in the world. Qantas history and ties with the Australian community has given it a leading edge over its competition such as tiger, jet star and virgin airlines. It is further strengthened by the ties it has with the Australian government, with allowing the company to market at better rates compared to the competition. Weakness: Qantas ignorance to expand beyond the Australasia region causes less customers and therefore a reduction in sales. Qantas has also been in a challenge in managing employees as technological advancements are making employees jobless. Qantas has also slowed down in advertising as international competitors has spent money sponsoring big live events such as sports tournaments. Opportunities: The expansion in increasing the number of planes and the advancement in technology to introduce new customers. Furthermore, opportunities such as frequent flyer point and Qantas points allows customers free upgrades and rewards creating grater opportunities for further expansion of the company. Threats: there are many treats to the company as Qantas has face many problems in the past couple of years. Form it over priced flights to it competitor’s expansion in different regions, reducing the number of customers flying with Qantas. Companies such as Jet star have taken many Qantas customers as they expand their flights to Asian countries. Furthermore, Jet stars cheap air fees causes customers to side with the cheaper flight causing Qantas to further reduce their pries. This has caused Qantas marginal benefits to be outweighed by it marginal cost as smaller but cheaper airlines have been introduced into the market. 5. Segmentation, targeting and positioning in marketing (STP): Current trends in the industry of your choice. This means first choosing an industry that you are familiar with or interested in. Source an example that describes a current trend in that industry. Explain how STP could be used to take advantage of the trend. Ans: One of the biggest game changes in the transport industry is the introduction of UBER. UBER has not only change the market for the way people transport but has also help many businesses through it sub brand UBER eats. Ubers STP was initially a new way of personal transport internationally but it has transformed how people travel. Previously individuals going out had the difficulty to enjoy due the need to drive back home. With UBER people and business such as night clubs have had a significant advantage and at the same time not affect the UBERs revenue. UBERs expansion into UBER eats has segmented form not just travers but include delivery to homes. This allows an expansion of the market without changing it main objective. UBERS statistical analysis of it demographic, its locations (being the internet) to customer care, including behavioural analysis allows it to target specific groups. UBERs wide target range allows for it to gain the best revenue depending on timing UBER automatically bring prices down to target youth market at the same increasing during rush hour theses marketing techniques allows for maximum usage and allows it to target certain demographics at different rates. The expansion of food transport has brought lots of revenue to the company as it challenges its competitors such as menu log. Unlike it UBER transport, UBER eats looks at it specific group in the market, (people who work long shifts) UBER eats ability to grab food from gourmet restaurants targets people with stressful busy life styles yet want to enjoy a good meal UBER eats provide a door to door service targeting a specific group in the population who prefer to dine in rather than go out, yet having the satisfaction of gourmet food. Therefore, the position that UBER and UBER eats holds is strong not only in the transport industry but also gaining certain interest in the food industry as well.

6. Marketing Ethics – This means sourcing 1 example of a problem with marketing ethics relating to the marketing of a products or services. Explain how applying an ethical marketing approach could have helped avoid or address the problem. Ans: Every company has an occurrence where there is a fall in the ethical standards one such example is the BP oil spill in 2010 in which the marketing ethics was ignored and thus false information was delivered. Marketing ethics revolves around the way companies generate customer interest by incorporating a positive internal and external environment. During the 2010 BP oil spill Marketing teams avoid the topic of the environmental damages caused by the company effecting its external affairs with the customer, rather it kept on adverting it purity in its fuel. This caused an ethical dilemma as the same fuel which was marketed to the world, was the same fuel killing millions of marine lives. BP’s ignorance towards the mistakes was evident through their court trial, as constant denial to the fact that they caused and error on their part. While this issue was being addressed the marketing did not stop advertising the fuel international and thus caused outrage from customers and environmental conservatives. BP could have avoided this issue of the marketing team came forward with an apology as soon as the oil spill happed. If they had done that there would have been a possibility that viewers could fell sympathy for the company and help support rather than hate on the company and creating an ethical dilemma. Furthermore, BP could have supported clean-up crews and marketed helping message for a call for help and support in the cleanup rather than ignorance, it wold have left a positive image on the company in the time of negative remarks. If BP had held up an apologetic marketing technique they would still be one of the top fuel providers for the world but due to tier greed for money the incorrect marketing procedures BP has suffered its huge economical loss.

References ANON In-text: (Blogs.pearson.com.au, 2016)

Your Bibliography: Blogs.pearson.com.au. (2016). [online] Available at: http://blogs.pearson.com.au/highered/mymarketinglab/mc-donald%E2%80%99s-marketing-strategy/ [Accessed 12 Sep. 2017].

MCDONALD’S MODERN MARKETING MENU – CMO INTERVIEW In-text: (Marketing Magazine, 2016) Your Bibliography: Marketing Magazine. (2016). McDonald’s modern marketing menu – CMO interview. [online] Available at: https://www.marketingmag.com.au/hubs-c/mcdonalds-modernmarketing-menu-cmo-interview/ [Accessed 8 Oct. 2017].

WHAT 7 KEY STRATEGIES MUST WE LEARN FROM APPLE MARKETING? In-text: (Anon, 2017) Your Bibliography: Anon, (2017). What 7 Key Strategies Must We Learn From Apple Marketing?. [online] Available at: https://blog.kissmetrics.com/7-strategies-apple-marketing/ [Accessed 7 Oct. 2017].

WHITE, W. Samsung Marketing Strategy: The Master Brand · Inevitable Steps In-text: (White, 2017) Your Bibliography: White, W. (2017). Samsung Marketing Strategy: The Master Brand · Inevitable Steps. [online] Inevitable Steps. Available at: http://inevitablesteps.com/marketing/samsungmarketing-strategy/ [Accessed 8 Oct. 2017].

SMITHSON, N. Starbucks Coffee PESTEL/PESTLE Analysis & Recommendations - Panmore Institute In-text: (Smithson, 2017) Your Bibliography: Smithson, N. (2017). Starbucks Coffee PESTEL/PESTLE Analysis & Recommendations - Panmore Institute. [online] Panmore Institute. Available at: http://panmore.com/starbucks-coffee-pestel-pestle-analysis-recommendations [Accessed 3 Oct. 2017].

SEGMENTATION, TARGETING AND POSITIONING MODEL: INCREASING REVENUE BY "GOING NICHE" In-text: (Mindtools.com, 2017) Your Bibliography: Mindtools.com. (2017). Segmentation, Targeting and Positioning Model: Increasing Revenue by "Going Niche". [online] Available at: https://www.mindtools.com/pages/article/stp-model.htm [Accessed 8 Oct. 2017]....