Marketing Management And Digital Communication For SBU Objectives

Background

Under the business circumstance, marketing management and digital communication are essential for the growth and development of the business. This report evaluates the SWOT and PESTLE analysis of Cairns Aquarium to develop the marketing plan for developing new services. It also demonstrates the marketing with financial objectives. Marketing mix strategy is also discussed in this report to create the plan for digital marketing communication. It also exhibits the budget allocation for promotion mix elements and assesses the control and evaluation plan.

Cairns Aquarium is an innovative and impressive aquarium. This aquarium is only one at the global level that demonstrates the amazing sea natural world from tropical North Queensland. It also focuses on two heritage listed field such as the Wet Tropics Rainforest and the Great Barrier Reef. The Cairns Aquarium has been built to offer a world-class venue in order to communicate and considering with incredible habitats, plants, animals, and habitats originated in Australia’s Wet Tropics. Australian region has two world heritage listed environments named Daintree Rainforest and the Great Barrier Reef. It should also protect and preserve the biodiversity of these world listed network. The key vision of this Cairns Aquarium is to encourage the individual all over the globe to protect, respect along with conserving the Queensland’s tropical rainforest and Great Barrier Reef (Cairns Aquarium, 2018).

The mission of Cairns Aquarium is to share the passion for what they perform and educating and pass on new understanding to every visitors regarding the diversity of the ecological value of the habitat that lives there and Tropical North Queensland habitats (Tropical North Queensland, 2018).

Cairns Aquarium brand is a new all-weather attraction that has arrived in Cairns showcasing. It has a wide category of marine life and corals from the waters of Australia Great Barrier Reef. The graphical eye-catching Cairns Aquarium is situated in the center of Tropical North Queensland city. This aquarium is the straightforward walking distance from a large number of resorts, holiday apartments, and hotels within the city of Cairns (Cairns Family Attraction, 2018).

The key aim of this new service is to be a leading educational capability to display the diversity of tropical North Wet. Two regions highly demand Cairns Aquarium like the Great Barrier Reef and Dain tree Rainforest within its communicative zones. This new tourist attraction place demonstrates how these two-world heritage listed atmosphere highly depends on each other for their dependency and co-existence and leads the education for all generation to perceive about and involves the footprint on their planet. It also focuses on preserving the wild atmosphere for the survival of the prospect generation (Cairns Aquarium, 2018).

Market definition and product or brand background

There are certain stakeholders of Cairns aquarium such as creditors, workforces, customers, investors, trade associates, community, investors and government. All the stakeholders play a vital role to gain the popularity of Cairns aquarium and this gaining attractiveness and the enthusiasm of individual for this Cairns aquarium leads all the stakeholders to perform in building aquarium (Royle and Laing, 2014).

It is assessed that consumer behavior is transforming with respect to Cairns Aquarium. Moreover, customers shift their attitude regarding natural planet because of acquiring data via advertisement and media particularly in Aquarium sector. In Australia, the family group gives preference to day trip featuring for both intentions such as fun and learning (Tiago, and Veríssimo, 2014).

Cairns aquarium has certain key market participants such as Ocean park aquarium, and the Aquarium of Western Australia. Competitor’s assessment is practiced for comprehending the approaches of competitors as; it would be effective for developing a significant marketing plan (Ryan, 2016). It could be analyzed through Porter’s five-force model:

Bargaining power of buyers

A corporation has low bargaining power due to less availability of aquarium services in Australian aquarium industry. Hence, there is a high switching cost of services as buyers cannot easily move from one service to another (Taiminen, and Karjaluoto, 2015).

Bargaining power of Suppliers

There is high bargaining power of suppliers in aquarium industry due to less availability of substitutes in the aquarium industry. Hence, corporations should focus on significant liaison with their suppliers, as it would be effective to negotiate with them about the price (Kannan, 2017).

The threat of New Entrants

The threat of new entrants is low in the aquarium industry due to a low regulation made by the federal government for penetrating into the marketplace.

Threat of substitutes

There is a low amount of substitute’s services in the aquarium industry but it offers lucrative services to their customers. This could create complexity for Cairns aquarium in terms of developing the aquarium in Australia (Simula, Töllmen, and Karjaluoto, 2015).  

Rivalry among existing competitors

There is a tough rivalry between key competitors in the aquarium industry. Thus, it is evaluated that the Cairns aquarium may face a challenge to strive the current rivalry and generates a unique image regarding this brand in the marketplace (Baltes, 2015).

The Australian government is stable that could be effective for expanding the Cairns aquarium business in the Australian nation. Furthermore, the government offers to back to Cairns aquarium as it would lead the company to enlarge their business. However, Cairns can be adversely affected by a political factor due to the need to follow different regulations with the point of visitors (Levy, and Gvili, 2015).

Situation analysis

Under the Australian nation, the economic situation is constant so that, it will offer the chances to expand the business of Cairns aquarium. Furthermore, the income of Australian people is high so that, they may spend on holiday visiting on Cairns aquarium. It could be beneficial for Cairns aquarium in terms of attaining higher profit because people can pay higher for purchasing the tickets (Karjaluoto, Mustonen, and Ulkuniemi, 2015).   

In the nation of Australia, the lifestyle of an individual is modern and cool so that, it could offer the opportunity to Cairns aquarium to expand their business. The aquarium could be recognized by visitors and Australian people. Furthermore, worldwide growths in environment consciousness demonstrate that there is a higher number of people who empowering the protection. It may create advancement for business (Järvinen, and Karjaluoto, 2015).    

Advance technology is highly practiced by an individual so that, it could facilitate the chance to Cairns aquarium to expand their business and promotes its through online platforms. Furthermore, digital media enables the business to attract a large number of visitors towards the Cairns aquarium. This may also lead to increase the profitability of the corporation (Lamberton, and Stephen, 2016).

There is some regulation developed by the Australian federal government such as safety and security laws for employees and consumer protection laws. These regulations should be used by Cairns aquarium as it would offer the opportunity to expand the market. Cairns aquarium also incorporates the legitimate values for its effective marketing practices (Valos, Haji Habibi, Casidy, Driesener, and Maplestone, 2016).

The eco-friendly technology can be used by Cairns aquarium in their business procedure. Furthermore, Cairns demonstrates guarantee of a modification in their current activities with a solid take a step to finish more eco (Belch, Belch, Kerr, and Powell, 2014).   

The key strength is available with Cairns aquarium is its attractive interior design that can influence the high amount of visitors in the upcoming period. Moreover, it also provides several beneficial practices to their visitors along with favorable experience to their customers. Hence, it can be stated that this element can aid to develop the favorable image in the mind of the customer. It may also enhance the profitability of products and services of company and market share in long-term (Fill, and Turnbull, 2016). 

The key strength available with Cairns aquarium is its higher rates that are not affordable for each customer segment. Hence, it could be evaluated that higher expenses can decline the demand for products and services of the corporation. It could not be advantageous for obtaining the favorable result in the long-term (Rekha, Mishra, and Chauhan, 2017). 

Internal analysis

An organization has a great chance to improve the market and increase the number of customers by expanding the Cairns aquarium in a different region of Australia.

The key threat of Cairns aquarium that it only deals with marketplace hence, it faces the high cost of production. This can lead to an unfavorable impact on the market demand. It is also analyzed that higher costs lead to decline the services that can gain the chances of losses of Cairns aquarium in the marketplace of Australia (Sinha, Singh, Gaudrat, and Ferdinand, 2018).  

Cairns aquarium selects a specific market for gaining profit from Australian economy market opportunities. This can deal in certain kind of services like natural sea world being identified in the larger cluster known as an aquarium. Market segmentation has sub-categorized the covered market into certainly standardized sub-groups (Charan, and Dahiya, 2015). This group can feasibly be selected as target market that has similar characteristics, needs, and desires. It can be influenced by using the diverse marketing mix strategy. The key segmentation could be categorized into geographic, psychographic, demographic and behaviouristic. Cairns aquarium targeted the market for expanding their business on the basis of geographic, demographic and behaviouristic segmentation of market (Valos, Maplestone, Polonsky, and Ewing, 2017). 

Cairns aquarium deals through the Australian region and makes a plan to enlarge their business in more region of Australia. Since the demand of customer is high towards the Cairns aquarium in the Australian market.  

For expanding their business, Cairns aquarium will target on 10-15, 15-20 and 20-25 years customers. It will mainly focus on the 25-30 years of the customer. This class of age-group will intend to visit in this place very frequently. Moreover, these customers may pay a higher price for attaining favorable experience from Cairns aquarium. By using the effective marketing approach, Cairns aquarium can develop the awareness about taking the favorable experience of amazing sea natural world from tropical North Queensland (Leeflang, and Verhoef, Dahlström, and Freundt, 2014).

Cairns aquarium can encourage the customers towards their services by offering premium rates for seeing the sea natural world. For expanding the business, it can provide competitive price services for attracting the all focus group.  As a result, it has a higher opportunity to compete for the rivalry in the Australian aquarium industry (Valos, Maplestone, Polonsky, and Ewing, 2017).

Positioning

• It will focus on the individual who lives in a modern lifestyle in Australian economy by offering sea natural world services because it has higher demand in the market in current times.
• It would create the positive image among customers by improving the extent of services and providing the added value for customers as they are ready to compensate higher rate for seeing the sea natural world animals (Charan, and Dahiya, 2015).

• To increase the percentage of customer demand in the specified period who desire added value and advantageous with the Cairns aquarium.
• To increase the potential customers and retain the current customers who give preference to Cairns aquarium as compared to its key market players.
• To influence the customers who never visit in Cairns aquarium
• To evaluate the impact of advertisement on growth

Marketing objectives and goals

• To evaluate the trend of the Australian market
• To identify the opportunity for Cairns aquarium in Australian aquarium industry
• To evaluate the approaches of competitors in Australian aquarium industry

Financial objectives and goals

• To increase the revenue of company by 25% within 7 months
• To decline the expenses of the company by 30% within 5 months
• To increase the demand of customers by 35% within 5 months

Cairns aquarium will expand their services with distinctive design and tagline. It will also incorporate the world animal where a human can interact with them. It will emphasize on natural sea world in one place. This product would be endorsed by renowned celebrities. Consequently, it would be advantageous for influencing the high amount of customers with respect to natural world heritage services in Australian regions (Valos, Maplestone, Polonsky, and Ewing, 2017).

Customer analysis

Cairns aquarium will have AU$ 800 price for visiting at each stage. It is a natural sea world as the positioning of Aquarium is high. It charges a higher rate from visitors as, it creates the unique quality of services (Leeflang, and Verhoef, Dahlström, and Freundt, 2014).

Cairns aquarium is located in only one place in Australia. Therefore, it would use online websites and business to customer approach to offer their services among the high amount of customers. This channel would be advantageous for Cairns aquarium as it would enable them to directly deal with their potential visitors. Consequently, it could be evaluated that direct dealing with the visitor will offer the chances to gain the revenue in the long-term.

Cairns aquarium will endorse their services via social media because it would be effective for persuading the high amount of customers. In such a manner, it can practice several social media techniques such as Twitter, YouTube, Facebook, and LinkedIn. Promotion approach can be beneficial for the company as it would improve their financial position and productivity (Charan, and Dahiya, 2015).

Control is a key element of the marketing management and digital communication plan because it enables the Cairns aquarium to assess the condition of their services by contrasting the actual with projected results. Furthermore, it is also effective for the company in terms of identifying the possible issue and resolving it in an effective way. In addition, certain factors could be considered in controlling procedure like evaluating, contrasting and correcting (Rekha, Mishra, and Chauhan, 2017). It is described as given below:

In this phase, the Cairns aquarium can assess the marketing condition via assessing the type of task that would be performed such as a survey.

Cairns aquarium can conduct the market survey to understand the actual condition of the market by addressing the actual needs and customers of services. It can be stated that a company can address the services that are unlike by customers as it aids to satisfy them.

In this phase, Cairns aquarium can contrast the projected outcome with the actual result for addressing the gap between them because it helps to take corrective measure actions.

Under this phase, Cairns aquarium can avoid the gap amid standard and actual result by practicing the controlling procedure. Furthermore, if Cairns aquarium has addressed key mistake then, they can develop an effective approach for avoiding the key concern significantly (Charan, and Dahiya, 2015).

Industry analysis

Conclusion

As per the above assessment, it can be concluded that Cairns aquarium is a recognized place that offers premium services to their upcoming visitors by using the digital communication platforms. It can be also summarised that Cairns aquarium uses PESTLE assessment for addressing the condition of the nation before expanding the business in the different region of Australia. It can be concluded that marketing mix strategy could be beneficial for influencing the bulk of customers in the longer period.   

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