About company
The aim of the report is to talk about the marketing process of the business in Australia. The company whose marketing process is discussed is Swisse, an Australian vitamin, supplement and Personal Care Product Company. The report includes the understanding of the current contemporary issues which are majorly faced by the Swisse Company related to the marketing process. In addition, this paper reflects the importance of the marketing process in the activities and operations of business.
Swisse Company came into existence with the new idea of Kevin Ring entrepreneur for development in the natural medicine in the year 1960s. Presently, the company is listed in the top multivitamin brand and this is the reason products are available in the international market (Swisse, 2018). The mission of the company is to make billions of people around the work happier and healthier.
Swisse Company plays a vital role in domestic as well as in the global market. The company want to spread healthy and happy lives of products by offering its vitamin supplements, skincare products and sports nutrition products in the domestic as well as the global market (Swisse, 2018). Domestically, the business is contributing in improving the economy of the country by increasing the exchange of products, by offering employment opportunities and by bringing the improvement in GDP. Along with this, the business contributes effectively in forming the connections with the foreign government.
The role of business globally is to increase the cultural understanding which leads to the smooth business. The relations between the two countries form because of the trade that is conducted by the company. The business wants to expand the business globally for earning a high amount of profit and to generate awareness about the company operations which improves market share and goodwill of the company (Johnston, 2018). Swisse has increased their product range to dietary supplements, functional food and many others. In the global market, the company is currently available in Australia, New Zealand, Italy, the UK, China, Singapore and the Netherlands (Swisse, 2018). Along with this, the company is willing to lance their business in more than 30 countries in the next five years.
Marketing process includes the different ways through which the value can be generated by the company for achieving the needs of the customers (Chernev, 2018). Swisse company also make use of the marketing process in which they follow the set process to analyse the opportunities that are present in the market. There are majorly 4 steps: –
Situational analysis: – Analyses of the situation is essential for the Swisse Company as this is the only way through which the company can identify the chances to meet the needs of the customers. In addition, the company perform this analysis to determine the marketing option to understand the companies own capabilities related to their business operations (Baker, 2014).
Marketing strategy: – Once the determination of the marketing options available is done, a strategic plan is required to be prepared by the Swisse company. The strategy helps the company to avail the option in an effective manner. The company prepares the strategy so that it can achieve the mission of offering a healthy life to numerous people.
Role of business domestically and globally
Marketing mix decisions: – At this step, the company make the tactical decisions that are related to the product, price, place and promotion (Baker, 2014). These strategies help the company to generate a competitive advantage which helps them to compete with the competitors in the market.
Implementation and control: – Once the company finishes the above steps they focus on execution of the marketing efforts that are essential to monitor by the company according to changes in the market.
The company is able to achieve the success of the business with the help of its business goals. The goals need to be related to the mission of the company. Swisse Company generally follows the SMART goals strategy through which they can make the goals that can lead to success.
SMART goals are considered as one of the most effective tools that are used by the high achievers to extend the reach to the business goals consistently. These 5 steps include specific, measurable, attainable, relevant and time-based gaols (Chernev, 2018). Below given is the application of the SMART tool: –
The objective of the Swisse Vitamins and Supplementary is to offer the services to the users with attention and care in the domestic and international market. The company has formed an effective supply chain management system that regulates or measures the entire process that takes place in the organisation (Swisse, 2018). Along with this, the company has committed itself in offering the services on time and to become the successful leads in the logistics industry. This specific and measurable objective of the company helps them in achieving a positive brand image and can attract wide customers. This shows that the company meet the goals of business which helps them in achieving success.
In the present era, the Swisse company is dealing with some business related issues which are discussed below: –
The competitive strategy is referred to as the long-term plan related to the specific company in order to get a competitive advantage over the competitors in the industry. Swisse Company is not able to plan any such long-term strategy that can give the tough competition to their competitors. The major competitors of Swisse include Blackmores, Ideo and many others. The operations and functions of the company show that they are performing their business same like Blackmore’s. The company needs to bring some unique products or service related strategy that can help to deal with competitors. Currently, the market share of Blackmore is 41.2% and on the other side, the Swisse market share is 29.7% (Fung, 2018).
(Source: Fung, 2018)
The Blackmore is able to capture the whole of the market because they are maintaining the strategy of a diverse range of products. The company is offering more than 250 products which makes them a key player. Thus, this reflects that the Swisse Vitamins and Supplementary needs to bring a solid strategy that helps them to compete in the market.
Coordination among the business function and resources is one of the major issues which are faced by Swisse Company. The company is performing the business mainly in Australia and making their products available in foreign countries. This leads to the issues of functions because of the lack of management in other countries affects coordination in getting the appropriate resources and serving to the customers with their needs. Most importantly, in the Australia market, the company finds a lack of coordination among the production and resource sourcing department. The production team demand for the sources which are not fulfilled by the sourcing team which affects the functions and resources.
Globalisation is emerging as a big issue for the companies dealing in the developed countries. The globalisation has brought the free trade and opportunity to the different companies to expand their business in foreign countries. This leads to the issues for the company who are operating their business in developed companies (Chernev, 2018). The globalisation has brought many issues for Swisse Company not only in Australia but also in other countries. This shows that the company needs to perform operations in an intensely competitive market which is an issue.
The government rules and regulations play a vital role in the working of the company. Currently, the company faced the federal court action to suppress an identification of the Therapeutic goods advertising complaint resolution panel (CRP) for their number of products. In addition to this, they found that new marketing campaign by the company has issued the limitation of the complementary medicines industry self-regulation (Harvey, 2012). Later, it was found by CRP that promotion of the different number of Swisse products was misleading and it remained verified or raised unwarranted expectations. These issues affect the operations of the Swisse vitamins not only in Australia but in other countries.
The corporate social responsibility is becoming the need of every business as they are working for the welfare of society. The Swisse Company is contributing in making the life better of the people (Harvey, 2012). Though, there is no particular committee who ensure that the company is involved in the CSR activities. This affects the company investors and stakeholders because CSR responsibilities get visible in the annual report of the company. This transparent helps the company in getting customers and investors.
Conclusion
In the end, it can be concluded that the Swisse Vitamins and the supplementary company finds that the marketing process is essential for business success. The lack of the effective marketing process leads to the issues for the company in the domestic as well as in the international market. This report includes the analysis related to the role of business in a domestic and international market with the description of the marketing process that is followed by Swisse Company. In addition, it includes the fact that business goals help the business in achieving success. Further, there is a discussion which shows the contemporary issues that affect the business and their operations.
References
Baker, M. J. (2014). Marketing strategy and management. London: Palgrave Macmillan.
Chernev, A. (2018). Strategic marketing management. Chicago:Cerebellum Press.
Fung, H. (2018). Why The Blackmores Share Price (Asx Bkl) Is A Buy. Retrieved from: https://www.mfam.com.au/74120/why-the-blackmores-share-price-asx-bkl-is-a-buy
Harvey, K. (2012). Swisse Vitamins highlights the failure of industry self-regulation. Retrieved from: https://theconversation.com/swisse-vitamins-highlights-the-failure-of-industry-self-regulation-6535
Johnston, K. (2018). The Role of Business in the Global Market. Retrieved from: https://smallbusiness.chron.com/role-business-global-market-68049.html
Swisse. (2018). About Swisse. Retrieved from: https://swisse.com/en-au/our-story/about
Swisse. (2018). Corporate Social Responsibility. Retrieved from: https://www.swisse.co.uk/our-story/corporate-social-responsibility/
Swisse. (2018). Home. Retrieved from: https://swisse.com/en-au/home
Swisse. (2018). Our History. Retrieved from: https://swisse.com/en-au/our-story/history
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