Question:
Explain about the marketing strategy and plan.
Customers- The assignment relates to the Vietnamese population taking the library services in Victoria, Australia. These services would be provided for the customers availing the services of the Vietnamese immigrants comprising of different religions. As such, books and various other resources relating to the English language as well as the citizenship test practice shall be utilized to attract potential customers towards the brand. The customers shall consist of customers from different age groups and demographics. In addition, they shall have a variety of needs and wants to address consumer issues and react accordingly. Free English classes shall enable the library to attract the attention of the substantial Vietnamese population in Vietnam. In addition, to create a positive perception on the Vietnamese population it shall be necessary to develop pertinent marketing policies to assist the business organization in its growth. As such, it can be said these policies have to be based on the Vietnamese culture and traditions to create greater consumer awareness.
Product – The product and service offerings shall include meeting the needs of the business organization. The product shall also include provide all the educational requirements of its consumers. In this regard, the product offerings would include the online resources that would assist the individuals to Australian culture and religion. As such, books comprising of different topics relating to sport, literature, culture and religions pertaining to the local culture shall be applicable for the process. Besides this, textbooks composed of Vietnamese culture and religion would be offered to the students. This would assist the business organization to cater to different sections of the society and have a larger consumer base. The product has to attract the Vietnamese population to ensure larger inflow of sales revenue. In these regard, it can be said that the choices and trends of the consumers have to be considered in a detailed manner to sell products that shall have relevance to the Vietnamese immigrants present in the Brimbank area in Victoria.
Industry Benchmark – The industry benchmark of library resources shall include the necessary resources of a business enterprise. The sales revenue of a business organization would be compared with the domestic and the international market. In this regard, it can be said that the customer service policies shall also be evaluated with the necessary resources of a business enterprise. According to Hardwick et al. (2014), the industry benchmark shall reflect the necessary constituents that would assist the business enterprise to engage with the necessary standards of a business enterprise. Therefore, to reach a wide section of the consumers it would be necessary to adhere to the standards of the industry and have greater inflow of sales revenue. The industry benchmark shall also relate to the positive consumer perception and the level of consumer service offered to the employees in an organization. Thus, the library ha to meet the expectations of the Vietnamese population to have a positive impact on the business performance of an organization .
Suppliers – The suppliers would include people who specialize in Vietnamese culture to supply relevant books and documents to aid the organization in its growth. Therefore, the distribution channel has to be organized to enable suppliers in their job. Effective human resources policies shall be formed to develop good relations with the suppliers. Thus, competitive strategies should be taken to retain the existing suppliers and explore newer markets in the Victoria. According to Agudo et al. (2012), the suppliers have an essential part to play to meet consumer demand and expectations and ensure organizational sustainability.
Competition – The business competition would be intensive in the market. Thus, it would assist the management of the business organization to frame effective marketing and operational policies to ensure market survival. Acceding to Baker and Parkinson (2016), the competitors would include various educational institutes and other libraries to facilitate market competition. Developing an edge over the consumers would assist the business enterprise to achieve greater sales in the market. Many educational institutional institutions offer these courses to the participants. It shall be essential to understand the needs of the Vietnameese population and the area of expertise they would require training .
The target market segment shall be the Vietnamese culture and population in Victoria and the rest of the country. In this regard, it can be said that the target market segment will enable a business enterprise to meet consumer needs and expectations. The library shall relate to the market segment and offer services accordingly. In this regard, it can be said that the market segment of consumers shall be formed as per the operational an d the marketing policies of a business organization. The target market segment shall consist of people from all age and demographics from the Vietnamese culture and populations. As such, the target market segment shall be school as well as college students of Victoria. According to, Turnbull and Paliwoda (2013), it is essential that the target market segment is identified for achieving a constant rate of sales revenue for the business organization. The target market segment shall be composed of Vietnamese immigrants who are an essential part of the customer base in Victoria. In addition, educational institutions would be a valuable source of revenue for the library.
The following are the marketing objectives of a business organization
The marketing strategy of a business enterprise can be explained through the 4 ps of marketing
Product- Product refers to the nature and the quality of the service offering. Here, the capabilities of a product to match the needs as well as the expectations of the consumers are also considered. The library shall offer essential books and services pertaining to Vietnamese culture and traditions as per the demand of consumers in the society.
Place- The library shall be located in place where it is easily accessible to the common public. In this regard, it can be said that the commercial viability of the institution shall be facilitated if it is located in a popular destination, which is frequently visited by college and school students. (Solomon et al. 2013). Therefore, the students shall acquire and gather knowledge with minimum amount of time and resources.
Price – The price of a product or a service have a large influence on consumer perception. The marketing plan shall reflect the consumer service provided like –
Promotion – Adequate sales promotional policies should be conducted to raise consumer awareness about the new services provided by the library. Efforts should be made to develop informal relationships with the local Vietnamese population. According to Newton, P. and Meyer (2013), This would enable the entity gather sufficient income that would complement its business initiatives. The new services offered by the library would assist the Vietnamese section of the society to improve their English speaking and writing skills.
The following implementation strategies can be taken to create an effective marketing plan
Budget Costs – The Budget costs shall be reasonable as per the goals and objectives of a business organization. The business organization should be set at $41,183.85 annually. It is expected that such cost shall address the issues in the daily business functionalities. The project staffing cost will incur the largest expenses, and would occupy 79.64% of the total project budget (Mihart 2012). The business activities ranging from purchase of goods, lending of buildings as well as the transportation costs shall be covered by the budget costs in the business organization. In addition, the variable expenses for the organization shall be covered by the business organization.
The evaluation plan of the library shall be assessed as per the goals and the objectives pre-determine d at the outset. Thus, the sales revenue and customer satisfaction levels of the organization shall be evaluated based on meeting customer targets and organizational expectation levels. The project is expected a rise in profits within the next six months.
References
Agudo, J.C., Crespo, A.H. and Bosque, I.R., 2012. Adherence to customer loyalty programs and changes in buyer behaviour. The Service Industries Journal, 32(8), pp.1323-134.
Baker, M.J. and Parkinson, S.T., 2016. Organizational buying behaviour: purchasing and marketing management implications. Springer.
Baudet, H. and van der Meulen, H., 2014. Consumer Behaviour and Economic Growth in the Modern Economy (RLE Consumer Behaviour) (Vol. 1). Routledge.
Dasgupta, P., Southerton, D., Ulph, A. and Ulph, D., 2015. Consumer Behaviour with Environmental and Social Externalities: Implications for Analysis and Policy. Environmental and Resource Economics, pp.1-36.
East, R., Wright, M. and Vanhuele, M., 2013. Consumer behaviour: applications in marketing. Sage.
Hardwick, J., Delarue, L., Ardley, B. and Taylor, N., 2014. Mobile phones purchases and consumer decision making process: the role of Facebook online advertising. Computer-Mediated Marketing Strategies: Social Media and Online Brand Communities: Social Media and Online Brand Communities, p.303.
Mihart, C., 2012. Impact of integrated marketing communication on consumer behaviour: Effects on consumer decision-making process.International Journal of Marketing Studies, 4(2), p.121.
Newton, P. and Meyer, D., 2013. Exploring the attitudes-action gap in household resource consumption: Does “environmental lifestyle” segmentation align with consumer behaviour?. Sustainability, 5(3), pp.1211-1233.
Saleh, M.A., Ali, M.Y. and Julian, C.C., 2014. International buyer behaviour–commitment relationship: An investigation of the empirical link in importing.International Business Review, 23(2), pp.329-342.
Schiffman, L., O’Cass, A., Paladino, A. and Carlson, J., 2013. Consumer behaviour. Pearson Higher Education AU.
Solomon, M.R., Russell-Bennett, R. and Previte, J., 2013. Consumer behaviour: Buying, having, being. Pearson Australia.
Spurling, N., McMeekin, A., Shove, E., Southerton, D. and Welch, D., 2013. Interventions in practice: re-framing policy approaches to consumer behaviour. Manchester: Sustainable Practices Research Group.
Turnbull, P.W. and Paliwoda, S.J., 2013. Research in international marketing(Vol. 39). Routledge.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download