Marketing Opportunities

Company Profile BBQfun is oneness of Queenslands specialty addressers. The BBQfun brand is synonymous with barbeque retailing and is built on the strong foundation of selling barbeques and outdoor modus vivendi itmes to Queensland consumers since cc9. BBQfuns dissolvent cut back out is primarily heightensed on barbeques and outdoor life-style outputs, incorporating ii local anesthetic and valu sufficient goods. BBQfun ope place both(prenominal) line of descent in Queensland, one in Brisbane and one at the Gold beach. BBQfun provides to client owing(p) value carrefours, brilliant client utility, continuously im foldment and innovation and is trusted by much than 10,000 customers in Queensland. placement analysis The retail food grocery store place changed over the last a couple of(prenominal) years, it became much competitive than ever before. on that pointfore consumer buying patters changed as well. BBQfun increase they food marketplace sh atomic p ayoff 18 until 2010 steadily to $10m. Since 2010, gross sales dropped dramatically because of changes in the retail market, applied science and changed consumer behavior. BBQfun has moderate determine, extensive and high- musical note product range, excellent customer service and offer three year product guarantees as besides one in the market.BBQfun has station the basic market need is for lineament, fashionable and unique outdoor lifestyle items. grocery characteristics Queensland has a population yield of 5% (2. 5% in 2012 ABS) annual. New homes buyer and renovated houses harvesting steadily from a base of 50,000 per year. Unfortunately the low unemployment rate of 4,7% grow to 5. 4% in 2012 in Queensland. Therefore Queensland has now the second highest rate in Australia. BBQfun is channeliseing the geographical ara of Brisbane with a gist population of 2m mint and also the postulate argona with a radius of 30km nearly the store.The ingested total signed pop ulation is estimated at 450,000 people. Typical customer atomic number 18 males and female persons, age between 20 and 50 years. Amongst them is a high number of young professionals who working in the CBD of Brisbane and having terminate under(a)-graduated or post-graduated studies. The fairish liquid income is over $70k. Market needs BBQfun has identify the basic market need is for quality, fashionable and unique outdoor lifestlye items. client bringments Consumers equal to prep be a wide range of incompatible products and options.The store should be easily access-able with a minimal inconvenience for the customer. BBQfun has a great reputation for customer service which is always valued by consumers at bottom this market. Consumer visualize ating for price transp bency to equal with competitors and payment plans. Products with warranty change magnitude consumer popularity. Market trends The trends in the market leads to quality, uniqueness and wider distributeion. C onsumers who be in calculate for high quality items learn to appreciate value over price. Consumers like to excite a vast selection or high diversity of products with varying price ranges.They ar also looking for specialistic products which stand-out from the mass-productive crowd. Market Growth In 2009 the national outdoor lifestyle market chip ined 3 million dollars with an estimated growth of at least 6% over the succeeding(prenominal) few years. Research demonstrates that consumers exercise pass be having a greater disposable income within the genuine future with the assumption that on average two persons go out be nourishment under the same household. The economic cypher also states that interest rates leave stay steady and allow ask no effect on disposable income. There is also an change magnitude popularity of T.V lifestyle programs which provides free- trade to BBQfun. The market trend also manifests that consumers argon enkindle in high quality import s that re master(prenominal) affordable. Market Competition There argon three major breathing national competitors The Yard, BBQs R Us and Outdoorz. The Yard is only become a flagellum to BBQfun if the moving in decision to enter the e-commerce market. Advantageously, The Yard does not trade in Queensland and currently has no market promotional actions. on the whole of their products are good quality, Australian-made nevertheless highly priced.BBQs R Us is definitely a threat competitor who has a broad range of outdoor lifestyle products. Their main think is on cheap imports and on already established markets. They have a strong replacement component which is highly valued by consumers. However, their trading is mainly based in Adelaide and Melbourne which assist our market-share in Brisbane. BBQs R US are considering on entering the e-commerce market. Outdoorz has Australian-made outdoor lifestyle product with good value prices making them highly competitive to BBQfun.They have a few stores situated in every major city and the quality of their products range from low to medium. Alike BBQs R Us, Outdoorz has a strong focus on their replacement segment. They are gaining market cogency in Brisbane and have a large advertising bud secure. If Outdoorz considers e-commerce merchandising strategies, they lead become a major threat out of the three. BBQfuns local rival are mainly independent retailers. Our local competitors have products ranges that vary according to the owners preferences. They well-nighly sell Australian make goods with an average item sale of $250/piece.All these independent retailers have a market share of 48% and a ripening rate of 8% per year. Situation analysis summary BBQfun trades on a highly competitive growing market. Competitors fighting hard for every bingle market share. BBQfun is in a fortune situation to enter a niche market with only a few competitors and has also great potential to expand national wide. BBQfun has created an outdoor lifestyle range which is differentiated and superior to competitors. They offering a high quality range of products which constituteume designer butt joint see and tally in stores.BBQfun offered to customer nearly great deals much(prenominal) as bendable payment plans, three year guarantee which is unique in the market, broadest range of products in the market, expert and friendly customer service and the most rummy operate that are better than anybody else. The selling strategy get out show how BBQfun green goddess take advantage of this situation and increase signifi messt they market share. merchandise strategy The advertising reckon is $180k for the year 2012. The merchandise hightail it go forth mainly focus on print advertising such as magazines, order mails and local bracingspaper.It is also consider a communicate publicizing. Previous years exhibit a high increase of sales after publishing articles in the BrisNews magazine. That testam ent be consider as the most prospering strategy. The aim of the marketing strategy is to increase the trueness customer from 10,000 to 16,000 and to establish a brand recognising in Queensland so that two out three people recognise BBQfun. BBQfun like to increase they growth rate at at least 10% within the attached year and continuously growing the gross profit margin. Tar select marketThe backside market is divided in three segments bracing advances, renovations and replacements. A customer survey shows that BBQfun most loyal costumiers are new builds. These classify sacrifice 30% out of all costumers. All three segments groups are free to buy online and pay for delivery. New builds are service, quality and price focus as well as loving to buy Australian made. They are loyal reader of the BrisNews magazine. Renovator usually living in new(prenominal) parts of the country and for them is service and quality the to a greater extent of the essence(p) than price.Those consu mer are loyal to print and online version of the Aspire Outdoor magazine. Replacement costumer are different. they love to support australian jobs and looking for good quality as well. Costumer service is not so important than price. These group are reader from BrisNews magazine as well. Marketing compound BBQfun pricing strategy is comparable prices for comparable quality. The value and quality are more important than the price but this allow be backed up with a three year guarantee. BBQfun has two stores in Queensland which can be easily access and has large railway car parking arrangements.The most prosperous campaign will be ads and insert in the BrisNews, this along will reach 40% of loyal costumer, as well as unceremonious articles and reviews. In-store promotion will take place and competitions with prizes to exotic destinations. BBQfun philosophy is customer is king whatever needs to be through with(p) to make the customer happy must(prenominal) occur. This creates a l oyal costumer base and those costumer are happy to recommend BBQfun to friends. Marketing strategy summary The aim is to build such a good reputation and brand dwellingness that BBQfun will be position as the premier outdoor lifestyle store in Queensland within five years.The marketing strategy to reach that aim is to prime(prenominal) create customer cognizance regarding their services offered, coach that customer base and building costumer committal and referrals. The message BBQfun will communicate is that BBQfun offers the widest, most exotic, easy access outdoor lifestyle products in Brisbane. Marketing methods lease mail, ads and inserts in BrisNew magazine and flyers in the letterbox. The marketing mix will send messages to consumers about the excellent high quality products with a three year guaranty which is unique.Its necessary to let consumer have the stores are easily accessible and there are lots of car parking available. This will happen through ads, inserts and article in BrisNews magazine, quest the BBQfun philosophy customer is king. Potential new markets Export markets star of the first questions is to ask which country or countries do BBQfun exportation to first? Should BBQfun start with the USA, being the largest of the English speaking, common law based countries? Or perhaps the UK, because BBQfun is familiar with the culture and the customer?Or whitethornbe BBQfun should trespass on the Chinese opportunity, because its the highest growth market? The selection of BBQfuns first export market needs to be based on a well crafted pre-export plan and a carefully developed set of criteria. It needs to include a delicate balance surveying nine-fold initial market opportunities against BBQfun current aim of resources, experience, and desired short and long-term stock goals. Only then can BBQfun commence the culling process that provoke the business into the handful of optimal markets BBQfun can consider initially merchandise to.No company can expected to ace their first attempt in exporting to a new market. Consequences offailing in a market can be damaging both short-term and long-term. Short-term consequences are better known, such as the waste of resources and time, opportunity cost, and cash- pass. In event, is the flow-on detriment these consequences can cause to your domestic help business in the form of distraction and cash drain, and the general apathy that can then develop towards establishing new export markets going forward.But it is the long-term consequences that are lesser known and under appreciated, in particular for companies who are trying to build a sustainable and valuable brand or reputation, with the view to selling their brand or company down the line. unmatchable is the penalty in valuation BBQfun whitethorn incur when the time comes tosell your brand or services. Large acquirers, in particular multinationals who have a presence in several of your target export markets, may not p ay BBQfun the same value for an self-defeating export market that they may pay you for your booming domestic one.The spare-time activity are safe some of the benefits of exporting depending upon BBQfun export strategy BBQfun may have access to overseas capital to fund your business growth in addition to the benefits of greater volume exporting to the other hemisphere can greatly assist to smooth out the normal peaks and troughs of come about the domestic market there maybe residual markets overseas for products and services that are in decline in the domestic market The mere process of overcoming the numerous hurdles of exporting can sharpen BBQfuns commercial acumen and im try on your business sustainability.Maximise exporting benefits BBQfun domestic business operations can also derive significant benefit from exploitation overseas markets as follow Exposing BBQfun products/services to overseas competition forces BBQfun to compare they product offering and in so doing BBQfu n may parent they product or service to be more competitive. This can assist BBQfun competitive edge in their domestic market by either increasing market-share or improving marginor in preventing overseas competitors competing in their market.As BBQfuns product may need to be enhanced to market overseasso may they marketing message and materials. Different markets require information incloseed in different ways (in addition to using new languages). The information gained this way can provide a reach decant of innovative introductions into BBQfuns domestic market. To successfully access export markets may require changes to internal systems and processesall of which can/should be used to enhance service delivery in the domestic market.typically expanding into export markets requires bringing surplus skills into the business and this can be achieved through training, hiring qualifies staff or outsourcing support. Is BBQfun export ready? Notwithstanding the above developing oversea s markets is not for the lightpenetrating new markets with different languages, cultures and currencies requires time, skills, concerted effort and cash (working capital). If done incorrectly chasing export markets can potentially negatively pretend the domestic business.The first step is to evaluate your readiness for export. To address this question you must answer the questions Does BBQfun has or can get access to appropriate skills? Does BBQfun has the readiness now (product or service delivery) to service export markets? Is that capacity scalable, what are the limitations? Will developing export markets draw resources, skills, money and capacity? Typically export markets involve a longer payment cycle and a reduced margin plus volumes can be significant.Can BBQfun fund this additional working capital or can it source the appropriate specie? Has BBQfun researched target markets in depth and been able to identify how the value proffer of they product or service differs from local and other international competition? BBQfun has great potential to expand to foreign markets. Marketing opportunities Business training strategies look for to match marketing opportunities to the organisations resources (what it can do) and its objectives (what management wants to do).It is useful to have a framework for thinking about the broad kinds of marketing opportunities we seek to find. The Ansoffs model is one of the best tools for organisations to develop market and product expansion strategies. pic All organisations must find new harming marketing opportunities to grow. But the challenge lies in determining which marketing opportunity offers the most long-term success. Marketing mix Product New products have been introduced and some discontinued. BBQfun offered australian made and imported products with the focus of australian made.This is a lordly balances on current exacts of customer. This means customers getting a wider range of different products and the y can decide on quality and price. Price Price is an important part of a retail marketing mix. If BBQfuns customers cannot afford the products, they are unlikely to frequent your store. Most of the products in BBQfuns store should be in a comfortable range for their target listening base. To get this information, BBQfun will need to perform an audience analysis to get an idea of median income and outgo power.To create a sense of desire and to give an option for a splurge, BBQfun can also sell some itmes that are priced just out of your target customers normal price range. Place In retail, the design of the store and the way BBQfun present their products is an important part of the marketing mix. The display should fit BBQfun image so that customers knock a cohesive experience. In a high-end retailer, products are often position father apart to create a sense of scarcity and exclusivity in a computer store, display models are set at shank height to allow testing.Placement can h elp bring certain products to trouble and promote itmes BBQfun want to sell more of. Promotion Promotion is the most recognisable part of the marketing mix. It involves all of the marketing activities BBQfun does to let their customers know about the products they offer. For a retail outlet, BBQfun might advertise in intelligencepapers and on the radio, start a social marketing campaign, use marketing electronic mails, hand out flyers or plan grand-opening events. BBQfun promotional campaigns should be targeted to they customer base.Choose publications that they read, move they listen to or watch, and copy or graphic design that will resonate with them. ecommerce Australias bricks and mortar retailers have been doing it tough of late. But then, it is getting hard to remember a time when they werent. But while news reports are filled with stories of companies such as Borders, Blockbuster and Premier sell closing stores, some(prenominal) of Australias online retailers are going from effectiveness to strength. But with competitors just a click away, they also know that staying ahead of the game in online retail is a never-ending race.Different research showed that three quarters of Australias online retailers think to increase their investment in technology in the following year, spending more on core systems, mobile solutions, back office integration, and multi-channel retail strategies. Which ultimately should benefit consumers in terms of range and service. Business-to-Business marketing B2B marketing is about meeting the needs of other businesses, though ultimately the demand for the products made by these businesses is likely to be driven by consumers in their homes.Put very simply, business-to-business marketing is the marketing of goods and services to businesses in order to hang on those companies operating. The biggest differences between business-to-business and business-to-consumer marketing are the types of goods and services being marketed a nd the types of entities the goods and services are being to marketed to. B2B vendors promote goods and services that will help other companies run. several(prenominal) of the things businesses produce for other businesses include equipment, components, raw material, processing services and supplies.In addition, because B2B marketers target only other companies, they have a significantly more targeted market than business-to-consumer marketers. Even when marketing very specific products for a fairly subtle subset of individuals, the latter type of marketer has a furthermost larger audience than the former. Many B2B marketing is driven by costumer demand. If there are no consumer to purchase a product, there is no reason for a business to exist in order to make it. If that business does not exist, it will obviously not need the products and services offered by other business.Also, the goals of businesses and consumers are often the same. When choosing a company for goods and ser vices, most consumers and businesses will make a decision based upon price, quality, delivery time and their history with the business. another(prenominal) considerations might be the availability of the product or service and the quality of customer service if something goes wrong. B2B marketing is currently one of the fastest-growing areas of marketing. As technology brings more businesses together, companies are beginning to court each other far more aggressively.And as technology makes the world a smaller place, it becomes more important for marketing and sales professionals to understand and implement the principles of B2B marketing. Direct marketing Direct marketing is a channel-agnostic form of advertising that allows businesses to communicate serial to the customer, with advertising techniques that can include text messaging, email, interactive consumer web commits, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising. Direct marke ting messages emphasize a focus on the customer, data, and accountability.Characteristics that distinguish conduct marketing are Marketing messages are addressed directly to the customer. Direct marketing relies on being able to address the members of a target market. Addressability comes in a variety of forms including email addresses, mobile earphone numbers, Web browser cookies, fax numbers and postal addresses. Direct marketing seeks to drive a specific call to action. For example, an advertisement may ask the prospect to call a free phone number or click on a link to a web identify. Direct marketing emphasizes trackable, measurable results from customers regardless of medium.Direct marketing is practiced by businesses of all sizes. A well-executed direct advertising campaign can prove a positive return on investment by showing how more potential customers responded to a do call-to-action. General advertising eschews calls-for-action in favor of messages that try to build prospects emotional awareness or affaire with a brand. Even well-designed general advertisements rarely can prove their impact on the organisations bottom line. Direct marketing is attractive to many marketers because its positive results can be timed directly.For example, if a marketer sends out 1,000 solicitations by mail and 100 respond to the promotion, the marketer can say with confidence that campaign led directly to 10% direct responses. This metric is known as the response rate and it is one of many clearly quantifiable success metrics employed by direct marketers. In contrast, general advertising uses indirect measurements, such as awareness or engagement, since there is no direct response from a customer. Marketing opportunities summary and recommendations Direct marketing campaignBecause of a limited marketing budget it is recommended to continue the already successful direct marketing campaign. BBQfun can prove a dramatic increase of sales flyingly after articles in BrisNews were published. BBQfun might think about to do the same for the Gold Coast store surrounding area. It is also important to continue with targeting the locals living around the stores with direct mail, flyers and local advertising. The advantages for BBQfun using direct marketing are clear Direct measurement of success sending 1000 mails, response is 200 = 20% direct response, sending emails, BBQfun can monitor open rates and click rates.BBQfun can use this through offering specials to consumer. Measuring results by product line, use historical data. If BBQfun usually sell 1,000 units of a particular product a month, and during the campaign response period they sell 1,050, BBQfun has an mark of effectiveness. (When using historical data, be sure to take seasonal variations in sales activity into consideration. ) Specific targeting directly sending information to individuals, BBQfun can specifically target the demographic they wish to reach. This can enhance response rates a s the information is relevant to BBQfun.This also gives BBQfun the opportunity to modify each interaction, such as addressing emails with the name of the customer or individual. tacky and quick production depending on which form of direct marketing you select to use, it is generally cheap and quick to produce. Email campaigns, for example, have little cost, do not take much time to create and are delivered to peoples inboxes insistentaneously. Potential to build list of potential or be customers if BBQfun regularly engage with potential or existing customers, they can build a database of contacts for future use.This makes targeting even easier for future marketing campaigns, giving BBQfun a pool of prospects to market to. The profits has made it easier for marketing managers to measure the results of a campaign. This is often achieved by using a specific website landing paginate directly relating to the promotional material. A call to action will ask the customer to visit the landing page, and the effectiveness of the campaign can be measured by taking the number of promotional messages distributed (e. g. , 1,000) and dividing it by the number of responses (people visiting the unique website page).Another way to measure the results is to compare the projected sales or generated leads for a given term with the actual sales or leads after a direct advertising campaign. e-commerce campaign We are living in the Information age. Internet has changed our lives and these changes are irreversible. The more people get on to profit and search for information, the more opportunities begin to develop for e commerce. There is no choice for BBQfun but to get on to the e-commerce way. Advantages of e-commerce Internet being a world wide web, opens up the world as a market to the businesses.Businesses can reach out to millions of customers in an instant which is not possible in any conventional mode of marketing. One of the most significant advantages that e- commerce o ffers is the cost. The cost of marketing online across the testis is minuscule when compared to the actual cost of marketing in the conventional ways. The cost per transaction works out to be very cheap. E-commerce promotes paperless offices and processes thus bestow to savings in terms of resources too. And also looking at e-commerce from a marketing perspective brings the product or the service closer to the customer.It enables the customer to view, read, download and experience the product. The other significant difference from conventional marketing is that the online marketing enables the marketing company to customise its sales pitch or product offering to the customer. As against the conventional modes which target consumers and markets at large, with internet marketing and E Commerce it is possible to target every single individual making it more personalised and customised offer. Ways BBQfun can measure the success of they e-commerce siteNumber of orders processed through the site this is an un jobatic metric to measure on a weekly or periodic basis. Plot the results on a graph and it is easy to see how orders flow through the site and how quickly they e-commerce presence is growing. Number of customers using the site measuring how many people have registered to use or are using an e-commerce site demonstrates adoption of the channel and the credibility and usability of a site. This metric is a critical e-commerce measure for a brand new site or for a company expanding into the world of e-commerce for the first time.Average cart total analyzing the average cart totals and whether the totals are trending up or down will help BBQfun qualify the success of their site merchandising and promotional efforts. When average cart totals spike, BBQfun can figure out why so that you can repeat a successful promotion in the future. Cart defection rate the number of carts that are abandoned on the site is a clear indicator of how the site is performing. Taking a closer look at exactly when customers bail out will tell BBQfun where the problem is and keeping tabs on abandonment rate will help BBQfun oblige issues before they become major problems.Percentage of total revenue when looking at the total revenue, what percentage is attributed to e-commerce? Measuring this percentage periodically will give BBQfun a sense of they overall adoption rate and the success of the site. These and many more advantages make obvious BBQfun sense for to market their products and services online. some(prenominal) marketing strategies will increase the sales figures and the market share, grow the business, strength the reputation of BBQfun and give BBQfun the opportunity to expand to national and international markets as well and everything with a low budget.Sales prediction Least squares method twelvemonth Sales (y) Coded time (x) XY X2 2012 11,000,000 1 11,000,000 1 2013 12,000,000 2 24,000,000 4 2014 15,000,000 3 45,000,000 9 2015 Total ? 38,000 ,000 6 80,000,000 14 Mean xy 12,666,667 3 4. 67 b = 80,000,000 ( 3 x 3 x 12,666,667 ) = ( 80,000,000 114,000,003 ) 14 ( 3 x 4. 67 ) = (14 14. 01 ) b = 34,000,003 0. 01 b = 3,400,000,300 a = 12,666,667 ( 3,400,000,300 x 3 ) = 12,666,667 10,200,000,900 = 10,187,334,233 y = a + bx Sales prediction for 2015 is $ Apply marketing opportunities to BBQfun E-commerce marketing Entering the e-commerce market is essential because of the change with technological advancements where most organisations and businesses are deciding to follow the trend. E-commerce marketing will help expand BBQfun to sell products internationally and nationally and make new markets and target audiences discoverable. This will result in financial growth with new sales and consumers.BBQfun already has existing storage places therefore are logistically prepared to enter the e-commerce market. BBQfun stock regulations could be managed in the future in respect to sales and marketing research. E-commerce stra tegies will help with discovering new markets and new target audiences. There are no real costs involved where delivery can be pay for and managed by the company. However, website design, management and IT solutions will have some cost. The website design will need to in bodied yellow colours or bright summer-time themes.Yellow itself is a neutral colour that will appeal to both our male and female consumers. The website needs to be written concisely and in easy terms. after(prenominal) successfully applying e-commerce marketing strategies the next step is to cover B2B marketing in order to achieve brand recognition and increase sales. B2B and e-commerce marketing strategies both align with BBQfuns business strategies and therefore assist the company in reaching aims. Direct marketing BBQfun already has implemented a direct market strategies through direct mail and local adversing in the BrisNews magazine.Most successful campaign was getting articles written in the BrisNews magazi ne where BBQfun experienced immediate sales after the articles were published. BBQfun should build on this strategy further by trying to get more publications with popular outdoor lifestyle related magazines in printed and online formats. Where these publications need to be highly tailored to the target audience. involution in the direct mailing program to a national level will expand the business further and increase customer loyalty and reputation.There is low cost involvement in expanding the direct marketing segment where distribution, flyer/advertisement design and article placements will increase subtly. All flyers, mail and online material will need to aligned with the corporate design. The corporate design apparent in direct mailing will present a young, refreshing, exotic lifestyle to appeals to our target audience. All suggested strategies applied to BBQfun will lead the company to be a strong/healthy growing business and national and international recognized.