Discuss about the Marketing Plan of Made Group Australia.
International marketing management is referred as a multinational process of planning and executing the conception of product, pricing, promotion and placement of the product and services across the countries in the different cultural environments to create exchanges in order to satisfy the organizational goals and objectives. This assessment will describe the marketing plan of MADE Group Australia while entering into the markets of Singapore. This report will discuss the mission statement, market analysis of Singapore, company analysis, SWOT analysis, and marketing mix of the company while starting the business ventures into Singapore market.
MADE Group Australia is an Australian-based food and beverage company that will be aimed at enhancing the market share, product positioning and profitability by starting the business ventures into the foods and beverage industry of Singapore. The mission Statement of MADE Group in Singapore will be ‘To enhance the health awareness among the people of Singapore through offering the fresh, quality and nutritious long life milk products (Ferrell, 2012). The mission statement will connect the marketing strategies, plans, and actions with the organizational goals and objectives in order to attain the high growth markets in Singapore country.
Singapore is a high growth potential market for the milk food products that will provide an opportunity for MADE Group Company to enhance its global market share, brand positioning, sales revenues, and profitability by starting the business ventures into Singapore market. Singapore is a destination where there is lot of diversities exist in the consumer shopping pattern, purchasing behaviors, and tasting preferences because of the geographical differences and demographic variations. The company will target the health-conscious customers who regularly consume the fresh milk products. It will target the youth customers, sportspersons or athletes, and health-conscious customers (Keilor and Kannan, 2011). The company will offer the variants of the milk food products, such as semi-skimmed and fat-free milk to the targeted customers across the markets of Singapore for developing the profitable markets in different regions of this country.
Singapore is a high-growth potential market in the Asia Pacific region for the milk foods products that provides the equal opportunities for the overseas milk foods firms to enhance the market share by staring the business ventures into the country. There is oligopoly in Singapore milk food industry because of a range of competitors, such as Yakult, President, Meiji and F&N Nutrisory and Nestle Dairy are the major players in Singapore markets. F&N foods is the leading playing having approximately 27% share in Singapore milk foods industry as it offers different packaged variants milk products, such as fat free milk, semi-skimmed, and pasteurized milk products. The competitors use product differentiation, pricing, distribution, and promotional strategies to achieve the profitable markets across Singapore markets.
Singapore is one of the smallest countries in the Asia Pacific region, but it is one of the growing economies in the continent due to significant business industry. Singapore is one of largest importing company for the milk food products in the Asia pacific region which imports more than 90% milk foods products from other countries, such as Australia, China, India, and the UK and others. The dairy industry or milk food products account for 12% of total market share of Singapore industry. There is high demand for the milk foods products in Singapore because of the milk made products, such as Cheese, butter, condensed milk, Yoghurt, sour milk products, milk powder, and Curd (Kerin and O’ Regan, 2008). The estimated market sales volume in Singapore market is estimated 1.8 million tons in which app. 90% or 1.6 million is estimated to import from other milk producing countries (2015 reports). The sale for the milk foods products of Made group in Singapore market is targeted approximately 12-15% or 0.1 0.2 million tons of the dairy milk products.
After analyzing the milk foods or dairy market of Australia, it is summarized that the firm can target the health conscious customers and sportspersons to enter the market. There is diversified customer patter in the market of Singapore. Along with this, it is also identified that there is oligopoly in Singapore market comprising of the market players, such as F&N Foods, Nestle, President, Meiji, and Yakult. The sales target of Made group in the market of Singapore is estimated 0.1-0.2 million tons milk.
The organizational factors for the company include organizational structure, corporate culture, employee satisfaction, leadership qualities and managerial competences, and information system in the organization. The organization of MADE Group Australia has functional structure and Hierarchical culture. There is a centralized control, chain of command, and upward ordering process in the organization. The firm has several departments based on the organization functions. The corporate culture of the organization facilitates healthy and safety workplace, flexible working conditions, training and development programs, monetary and non-monetary incentives for enhancing the employees morale and job satisfaction. Along with this, the democratic leadership style and participative leadership qualities assist to manage the performances of the employees by encouraging them to contribute their best to the organization (Nijssen and Frambach, 2011). The managerial competences of the management are effective to lead the workforces by assigning them the tasks, duties, and responsibilities according to their skills, knowledge and area of specialization.
MADE Group Australia is one of the leading suppliers for the fresh milk products across the Australian markets. It implements the marketing plan, strategies, and promotional campaigns to promote the branded products across the Australian markets by creating strong brand awareness and loyalty among the local customers. It uses TV channels, print media, digital marketing campaign and social media marketing, celebrity endorsement, event programs, and website advertising. The marketing strategy of MADE Group is based on enhancing the market share and product positioning of the company as well as boosting the sales revenues of the firm by using the advertising campaigns (Richter, 2012). For this, the company also uses the cost leadership strategy to attain the competitive advantage through offering the milk products at lower prices than the competitors in the domestic markets. It has centralized supply chain including enhanced dealer networks and wide distribution to cover the most customer markets in the country.
Made Group is an Australian Foods and Beverage Company that makes significant profits and revenues by offering the wide range of the dairy food products across the Australian markets. The company has recorded significant sales growth during the past three years after an increase in the sales figures by 50% (65 million dollars). It generated the sales revenues of $ 120 million in 2015. The company has been developing the profitable markets because of in-housing operations, logistics on point-of-manufacturing, auto sales, and high economies of scale. It has significant market share in the Australian foods and beverages industry. The financial stability of the company is affected due to the fluctuations in the economic conditions and changes in the fiscal and monetary policies of the national government in the country.
MADE group is an Australian dairy foods company that offers the fresh long life milk, flavored water juice beverages, flavored milk beverages, sports drinks, and other milk food products. It has home production process because of its own in-housing manufacturing facilities and operations. It uses the highly skilled and technical workforce and latest production technologies to produce the fresh, quality, and nutritious milk food products. The manufacturing operations and process of MADE Group are highly diversified and flexible suitable to produce the both qualitative and qualitative milk food products as demanded by the customers. The company considers the quality standards, safety measures, and nutritional contents in its production process to produce the high quality of the milk food products. It has own manufacturing plants at different locations in the Australian country to produce, package, and deliver the milk food products to the different markets across the Australian country (Kerin and O’ Regan, 2008). The company gains high economies of scale to produce the milk food products in the good quantities as per customers’ demands. It has good supplier contracts with the dairy farmers to receive the consistent supply of the raw food milk materials.
From the company analysis, it is summarized that MADE Group Australia has functional organizational structure, supportive and hierarchical culture, flexible working conditions, democratic management styles, and participative leadership assists to support the HRM practices in the organization. The company has in-housing manufacturing facilities, manufacturing plants, and innovative production technologies to support the manufacturing processes and production operations. The company also enjoys the high market share in the Australian industry due to the low cost offerings, quality and nutritious products, and good customer base. The company uses appropriate marketing strategies and advertising campaigns to enhance the sales revenues and profitability of the company in the marketplace.
The SWOT analysis is an important strategic tool that can be used by the management to analyze the product positioning and market share of the company in the relevant global industry. This is an important technique to identify the strengths, weaknesses, opportunities, and threats for the firm in the marketplace. This strategic tool will assist the company to capitalize the business opportunities by overcoming the threats available in the markets. The SWOT analysis for MADE Group is following discussed as:-
MADE Group is an Australian foods and beverage company which is planning to enter into the high-growth potential market of Singapore for attaining the high market share, brand positioning and sales revenue of the company. It will be effective for the firm to achieve the business goals and objectives by presenting an appropriate marketing mix for the company in order to operate good businesses in the Australian market. The marketing mix for MADE Group Australia is as followings:-
Product- MADE group is an Australian based food and beverage company that can achieve the high-growth and profitable market by offering the fresh, nutritious, and high quality products to the customers to the customers across Singapore market. The product of the company in Singapore market will be fresh long life milk (Hunt, 2016). The company can offer the milk products to the health conscious consumers and sportspersons who consume the milk products in everyday life. The company can offer the high-quality of the milk food products by considering the safety standards, quality aspects, and nutritional contents in the production process. The company can offer the nutritional milk and milk made products to fulfill the needs of the customers by meeting the milk food standards.
Pricing- The price penetration strategy is followed by the company to offer the nutritious and quality milk products at low prices than the milk products offered by the competitors. This pricing strategy will be effective to create profitable markets by entering into the market of Singapore. By offering the long life milk at affordable prices, the company will be able to access the wide geographical market of Singapore. Along with this, the penetration pricing strategy will be effective for the firm to attain a strategic competitive advantage by offering the milk foods products at low-up front prices in order to attract the customers from the competitive dairy milk foods industry of Singapore country (Swaim, 2011). This pricing strategy will provide the firm a cost advantage by offering the products at cost-cutting prices across the markets of Singapore.
Placement or distribution- MADE group is an Australian milk foods company that can offer the product, such as long life milk through opening its own stores in Singapore market or distributing through franchisees, sales agencies, shopping malls, and supermarkets of Singapore country (Glowik and Smyczek, 2011). The firm can choose the centralized distribution to offer long life milk across the market of Singapore. There will be centralized distribution, wide geographical access, logistics on point-of manufacturing, and good storage facilities to offer the products in the markets of Singapore through the nearest stores for the convenience of the customers. The company can use the geographical segmentation to segment the milk foods industry of Singapore in different customer segments on the basis of geographical variations.
Promotion- MADE group can choose the appropriate marketing strategy and suitable advertising campaigns to create the high brand awareness and customer loyalty across the milk foods market of Singapore. The firm can ensure the success of the milk foods products in Singapore markets through adopting the appropriate marketing campaigns. It can promote its products, long life milk through TV channels, digital marketing campaigns, social media sites, brand ambassadors, trade shows or promotional events. The marketing through digital campaigns and social media networking sites will be effective to attract the customers toward the milk food products in order to create the high brand awareness among the customers.
This is an important step of the marketing process that will ensure the implementation of the marketing plan for the achievement of the agreed goals and objectives. The implantation of the marketing plan will require the alignment of tactical market plan with the core business growth strategies. The implementation process will ensure the success of the marketing strategy into the market of Singapore.
This is the final step of the marketing planning process that will be effective to evaluate and monitor the progress of the marketing plan against the set performance indicators or determined criteria. This step will ensure if the marketing plan is continuing or progressing in the right direction toward the achievement of the organizational goals and objectives (Gilligan and Hird, 2013). The strategic evaluation and monitoring tools, like Balance Scorecard method or Benchmarking can be used to evaluate or control the marketing planning process into Singapore market.
Conclusion
From the above studies, it can be concluded that the marketing plan is prepared for MADE Group Australia to enhance the market share, product positioning, and brand image of the company by starting the business ventures in Singapore market. The mission statement was created to determine the business strategies, goals, and objectives of the firm accordingly. The marketing mix was prepared to analyze the products, pricing, placement, and promotion strategy of the company in the market of Singapore. The SWOT analysis was performed to analyze the strengths, weaknesses, opportunities, and threats of the company while starting the businesses into Singapore market. The market analysis of Singapore was identified to analyze the market size, customers, competitors, sales estimates, and market conditions. The company analysis was also performed to analyze the organizational, manufacturing, marketing, and financial factors.
References
Egan, C. and Thomas, M. (2012). CIM Handbook of Strategic Marketing. Australia: CRC Press.
Ferrell, C. O. (2012). Marketing Strategy Text and Cases. Australia: Cengage Learning.
Gilligan, C. and Hird, M. (2013). International Marketing (RLE International Business): Strategy and Management. UK: Routledge.
Glowik, M. and Smyczek, S. (2011). International Marketing Management: Strategies, Concepts and Cases in Europe. Singapore: Walter De Gruyter.
Hunt, B. (2016). International Marketing Management. Singapore: Clanrye international.
Keilor, D. B. and Kannan, R. V. (2011). International Business in the 21st Century, Volume 1. USA: ABC-CLIO.
Kerin, A. R. and O’ Regan, R. (2008). Marketing mix decisions: new perspectives and practices. USA: American Marketing Association
Nijssen, J. E. and Frambach, T. R. (2011). Creating Customer Value through Strategic Marketing Planning: A Management Approach. Australia: Springer Science& Business Media.
Richter, T. (2012). International Marketing Mix Management: Theoretical Framework, Contingency Factors and Empirical Findings from World-Markets. Malaysia: Logos Verlag Berlin Gmbh.
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