1. Develop a marketing plan for a product or service of your choice offered in the Northern Territory.
2. Identify a product or service that is either currently offered in the Northern Territory or is to be launched in the Northern Territory and develop a marketing plan for this.
Marketing is the desired means of the communication which exists between the companies and their respective customers having the preferred goal of selling the concerned products. It has evolved as the strongest devices which increase the profitability of any of the particular organization and enhances the overall performance of the firm. There are different types of the techniques as well as the innovative ideas used many of the well-known organizations to boost the success rate for their concerned firm (Zhou et al., 2012). This paper will explain the marketing plan for the shoes made by Betts Group of northern territory, which executes its business procedures throughout the market segments of Australia (Betts.com.au, 2016). The company is engaged in delivering the highest and finest quality of the shoes to all of the customers concerned. The fundamental motive of the concerned organization is to enhance the satisfaction and reliability of the clients by working as per the satisfactory demands of the customers.
The use of the SMART objectives is important as it helps in measuring the effectiveness of the marketing plan. S stands for Specific, M for measurable, A for attainable, R for realistic goals and T for time-bound. There are some of the crucial objectives for the success of the desired marketing plan of shoes of Betts group.
The situational analysis reveals the power of the concerned manager to understand as well as recognize the external and internal capabilities of the firm (Zhou et al., 2012). The description of the company along with the analysis of the competitors of the concerned firm within the targeted market segments are of immense impact. There are certain macros as well as the micro-environmental factors which generate an immense impact on the work process of the concerned firm.
Betts group Pty limited is one of the successful footwear companies of Australia executing its business process throughout the different market segments of Australia. The strengths of the firms to provide the high quality of the shoes and as per the changing demands of the current market segments and this has increased the larger percentage of the customers towards the organization (Yajima, 2014). The company is selling all its products online in order to sell their products to a large number of the people concerned. The company is now going to promote the newly made and designed shoes in order to satisfy the customers with the desired quality and the attractive look of the shoes (Seethaler, 2009). On the other hand, there are certain more products of the firm such as the bags, sandals, belts and many others. The selling of the products online helps to increase the productivity as well as the profitability of the complete firm.
The availability of the same type of the products at the different competitors increases the level of competition among the marketers. Therefore, it needs to be understated the desired needs and the demands of the changing trends throughout the marketplace segments in order to increase the satisfaction of the clients (Safir, 2013). The increase in the number of the companies of the same fields has increased the level of competition for the firm. Therefore, it is crucial for the organization to evaluate the differentiation strategy in all its products so that the product can retain an advantage over the products offered by its competitors within the concerned marketplace. The use of the internet connectivity will provide the desired expansion of the business procedure towards the larger market area.
The concepts of segmentation refer to the dividing of the entire and total large market segments into smaller ones as this will help in understanding the needs of the clients present on different market segments. There are different kinds of the segmentation variables which evaluate the success percentage for the selling of the products. Different types of the clients have different requirements as per their behavior port the selection of the desired choices. These variables are the demographics, psychographics, behavior and the geographical condition for executing the business procedure. The concepts of segmentation provide complete information regarding the firm business procedures of the firm (Otubanjo, 2013). The demographics reveal the particular change in the attitude of the clients regarding the purchasing of the products. It is mainly based on the different factors such as the gender, race, caste, ethnicity and many others. Therefore, segmentation helps in making suitable growth for the complete organization.
Targeting of the best customers is crucial as this will bring out the rapid growth and change in the business process of the firm. For effective targeting of the clients, the most crucial are to understand the desired size and the potential growth of the concerned marketplace segments (Ottman, 2011). Betts Group has targeted the female customers, as well as the youth as the change in the trends, attracts a large number of these people and they are more prone to the attractive and stylish shoes.
Creating the brand image of the concerned organization is crucial as this creates or generates an immense impact on the different customers. Acquiring the suitable position within the marketplace helps to create the brand value for the concerned firm. The most crucial are to deliver the highest quality of the goods to the consumers and satisfy them with the customer support as this will retain the old customer’s, as well as it, will help to bring a large percentage of the new clients to the concerned firm (Melka and Shabi, 2012). There are two of the most crucial appoints for successful positioning of the desired organization, they are drawing on the concerned positioning map and having the unique sales proposition as this two of t6he factors will bring out the rapid growth in the expansion of the business procedure for the organization. Higher quality of the product’s quality along with the effective pricing strategies will help in acquiring the best proposition of the concerned firm and the creation of the brand image of the organization will increase the selling of the products online as well as offline (McVety, Ware, and Ware, 2009). The brand image of any of the firm helps in establishing the trust and maintains a strong relationship with the concerned clients.
The use of the marketing mix theory helps in enhancing the overall selling of the concerned products of the firm and throughout the service industries use of the 7Ps is very crucial as its enormous satisfaction to the customers.
Products
Qualities, as well as the quantity of the concerned products, are very significant for the selling of the concerned products. The shoes offered by Betts are made as per the changing trends and the latest style fashion throughout the country and this will help in drawing the attention of the concerned consumers towards the firm which will finally increase the overall profitability of the organization.
Price
Differentiating the products with the help of the effective pricing strategies increases the desired selling of the same products available at different stores. It is seen that there are many of the new companies who offers the lower range of products in order to increase the selling of the concerned products (Kachapi and Ganji, 2014). Therefore, it is imperative for Betts group to understand the crucial demands as well as the needs of the customers and offers them the best quality of the shoes within the affordable and reasonable price range.
Place
For the successful marketing of the shoes, Betts Group needs to select the desired suitable locations for the promotion or the advertisements of the products. Location for the promotions of the shoes from Betts Group will play the major role in attracting a large number of the clients towards the organization (Grant, 2013).
Promotion
There are several kinds of the promotional techniques used by well-known organizations so as to enhance the sales revenue and for increasing the profitability of the concerned corporation. Development of the marketing campaign helps to create an immense impact on the coincided clients . As per the changing trends throughout the marketplace, use of the social media and the use of the internet technology enhance the overall efficiency of the concerned organization. The use of the televisions, radio, and the leaflets are an older version for the promotional techniques but these can be used too as these are all effective for acquiring some percentage of the clients towards the purchasing of the products.
Physical evidence
This includes the reports, market research documents and the survey reports regarding the entire matter of promotion and marketing of the concerned goods offered by the particular firm. The use of the physical evidence will help Betts Group in keeping the desired records related to the execution of the entire marketing plan which will be effective for the expansion of the business procedure for the firm (Grant, 2013).
Process
Use of the enhanced machinery will help in enhancing the designing and the quality of the shoes offered by the Betts Group to all its customers within the targeted market segments (Google’s latest accomplishment: refining marketing practice, 2012). Therefore, the use of the latest technologies as well as the latest tools including the machineries will help in gaining the competitive advantage for the concerned organization.
People
These are the employee as well as the stakeholder and shareholders of the concerned firm which provides their best efforts in enhancing the overall performance of the concerned organization. The Human Resources department needs to recruit skilled employees as well as they should arrange the training for the old employees in order to enhance their skills and capability for assisting the customers.
Planning is very crucial regarding the entire marketing process before implementing. Organization should provide the desired platform to the employees for presenting their views in the evaluation of the business method of the concerned firm. The strategic implementation reflects the people who are going to introduce the concerned in the selected places for attaining the desired goals as well as the objectives of the firm. Strategic execution put merely is the procedure that put tactics as well as strategies keen on accomplishment to achieve goals (Ciriković, 2014). A planned map is a written file that highlights the strategy of the company to attain objective, except will sit onwards exclusive of tactical execution (Bettio et al., 2013). The accomplishments make the business plans occur. Therefore, Betts Group needs to research the market segments and formulates the strategies as per the issues and the demands of the concerned marketplace.
Controlling as well as the monitoring of the entire market plan is important as it helps in maintaining the effectiveness and the efficiency of the plan. Implementation signifies the carrying out, or the genuine step the corporation will acquire to sponsor its trade (Anderson, 2015). These certain steps might consist of consecutively ads, initiation of a website or transfer through direct mail. The most excellent thoughts still require enacting. The completion stage of the advertising map makes confident the advertising behavior occur at the right time along with series for achievement (Brigham and Houston, 2009). Control is essential for the appraisal phase. Controls recognized throughout the formation of the advertising plan offer benchmark to evaluate how effective the arrangement proficient its objective.
References
Anderson, S. (2015). Latest SPIE industry analysis quantifies biophotonics-enabled sector. SPIE Professional.
Bettio, F., Corsi, M., D’Ippoliti, C., Lyberaki, A., Samek Lodovici, M., and Verashchagina, A. (2013).
Betts.com.au. (2016). Buy Shoes Online | Men’s & Women’s Shoes, Boots, Heels & More – Betts.
Brigham, E. and Houston, J. (2009). Fundamentals of financial management. Mason (Ohio) [etc.]: South-Western/Thomson Learning.
Ciriković, E. (2014). Marketing Mix in Tourism. AJIS.
Google’s latest accomplishment: refining marketing practice. (2012). Journal of Consumer Marketing, 29(3).
Grant, R. (2013). Contemporary strategy analysis. Chichester: Wiley.
Kachapi, S., and Ganji, D. (2014). Dynamics and Vibrations. Dordrecht: Springer Netherlands.
KFC Australia. (2016). KFC Australia – Home.
McVety, P., Ware, B. and Ware, C. (2009). Fundamentals of menu planning. Hoboken, N.J.: John Wiley & Sons.
Melka, L. and Shabi, A. (2012). Merger Arbitrage. New York: Wiley.
Ottman, J. (2011). The new rules of green marketing. Sheffield [England]: Greenleaf Publishing.
Otubanjo, O. (2013). The Extended Corporate Identity Mix. IJMS, 5(1).
Safir, R. (2013). Marketing and merchandising for musicians. Boston, MA: Course Technology, Cengage Learning.
Seethaler, S. (2009). Lies damned lies, and science. Upper Saddle River, N.J.: FT Press.
Yajima, N. (2014). The Latest Fly Ash Situation. Concrete Journal, 52(5), pp.393-398.
Zhou, L., Song, Z., Huang, X. and Chan, C. (2012). Physics of the zero- photonic gap: fundamentals and latest developments. Nanophotonics, 1(3-4).
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