Opportunity Analysis And Marketing Mix Plan For The Logan Together Project

Project Overview

The marketing plan is based only on research and analytical developments, the results of which form the marketing strategy. Nappy land has a marketing plan that helps it describe the company’s marketing strategy, goals, objectives, tools and means to achieve the organization’s goal. In the general structure of the business plan, the marketing plan has the same requirements as for other types of plan and also like other sections, it includes few points (Armstrong and Brennan, 2015). It will allow you to form a complete and concrete idea of ??the marketing project and answer all the questions that are available. Due to increased competition Nappy land is eager to have the best marketing strategy so as to create more efficiency in production. For example, you can spend time and think carefully about the development and creation of new equipment for making nappy labels, and when you get to the marketing plan, study the needs of the audience, it turns out that in your city nobody needs vinyl stickers, and even more expensive equipment for their production (Baker, 2014).

National Australian nappies is a baby nappy manufacturing company manufacturing some of the most reputable nappies in Australia and beyond. Some of the brand nappies manufactured by National Australian nappies include; child care nappies, joey economy, joey premium, baby love cosifit, huggies, pandas, bamboo nature, luvme and snuggler nappies. With a wide distribution network across Australia, the company has produced some of the best brands for babies to wear as young children (Fan and Zhao, 2015). It was founded in 1990 and has over 4,000 employees. Although it is not a public company, it has had consistent profit realization due to its ability to market its products and produce more products. An increased demand for baby nappies due to increased birth rates in Australia has made the company create some of the best nappies in the country. The success of the company ensures quality marketing. It is this section of the business plan that needs to be given special attention. Also known as National Australian Nappies (nan) Pty Ltd, it is a company that is limited by shares and is an Australian proprietary company located in Victoria. The company has been using its huge brand to enhance its marketing and distribution channels. Some of its biggest brands like Huggies have been in the market for more than two decades (Ferrell and Hartline, 2014).

The market analysis for the company has had several challenges and opportunities while operating in Australia. Before starting a marketing strategy to make a marketing plan, you should already have formulated a goal, an idea and collected marketing information.

For Australia, the political environment has been good. It has a stable political environment that helps in creating an atmosphere for conducive business environment and stability in production, distribution and channeling. Good taxation regime from the politicians also has been favorable for the business.

As one of the top twenty biggest economies in the world, Australian economy is large enough to maintain its businesses. For Nappies limited, the economic is such that people in the country have enough purchasing power to help in buying of its products. The inflation rate is not high while the manufacturing costs are enough to sustain a sustainable profit margin for continuity of the company (Festa, et al, 2016).

Marketing Plan Requirements

The social analysis is that there are enough people in the country willing and able to support the business. With an increase in births in Australia, the company is expanding generally due to an increase in population.

The company has been evolving technologically. An innovative environment is encouraged in the company that has led to shift in equipment of manufacturing to fit a more modern system of manufacturing. Time and technology always are interrelated and as time moves so does the need for technological enhancement and that is the reason the company is surviving (Grant, 2016).

The legal environment is also conducive for the company to operate. Regulatory authorities like the competition authorities have created laws that enhance business sustainability and development. Marketing plans and plans for conducting advertising campaigns, compiled at a good level, are crucial for the successful launch of a new product on the market (Hadjikhani et al, 2016).

This are inherent and internal factors that affect the business.

The company has had some level of success. Although not publicly listed, the company has been able to get the annual profits growing. Its market share has also grown from the original 30% to 37.5% making it have the biggest market share in Australia.

There are three big rivals for nappies ltd. The first company is soft stay nappies which commands the second biggest market share in Australia. The third is buggies that is heavily investing in expansion of its products to get a portion of the market share. The competitors are aggressive and would like to dethrone the company.

Although it has the biggest market share, Nappies Australia is not a dominant players. The competitive market is such that it only command 37.5 % of the market while the other five companies have a chunk of the rest in terms of market share.

This is an analysis of the strength, weaknesses, opportunities and threats faced by the company

Determination of the optimal set of characteristics of the product or service that satisfies the needs of consumers.

Formation of the level of product quality, corresponding to the forecast of prices, costs, resources.

Development of a product sales system, including after-sales service.

Development of commodity circulation schemes.

Defining a set of measures to create and stimulate the needs of consumers.

The marketing plan is a priority when developing a business plan, because:

1. It is marketing that determines that the organization will produce, how it will sell, at what price, how to attract customers, how to advertise. That is, the marketing plan gives answers to all the questions “how?” That arise during the development of a business plan.

1. Results of marketing planning affect the performance of other plans (financial, production, etc.).

For nappies limited Australia, the target market is the Australian mothers and fathers with children below the age of 3 years. It positions itself as the best company in terms of product quality for nappies better than its competitors (Hansen and Mitchell, 2017).

Target markets and their comparative characteristics.

Barriers of entry and development in the market.

Sales strategy of the product.

Scheme of product distribution.

Sales channels.

The target market is selected by market analysis. Parents with young children are the main targets of the selected market. The assumption is that you yourself accurately know the needs of consumers, the market competitors and that marketing activities do not bring benefits, can be detrimental to your business. I also want to divide two concepts: the project marketing plan (company, product) as the process of forming a marketing strategy and developing means to achieve goals and directly marketing plan as a document.

Company Background

Develop a marketing plan is necessary on the basis of marketing research and analytical developments. If you ignore this important recommendation and compose a marketing plan based on personal assumptions, personal opinion (especially one person’s opinion), it is likely that your plan will be erroneous and will not correspond to the actual situation on the market (Hosseini, et al, 2016). You can spend all the necessary work on developing a marketing strategy and defining marketing tools, but not fixing everything in the document. The marketing model of SP is today a key element of any business strategy. It appeared as a result of the development of the 4P marketing mix. In this article, we will describe the evolution of diapers in marketing. Let’s start with the base model and see how and how it was added.

 The marketing plan as a document solves a number of tasks: It allows you to clearly formulate the idea of ??the project (company, product). It combines the goals, objectives and idea into a single system and communicates this system to the executors of the project – employees of the company (Jaworski, 2018). Establishes company goals, their terms and provides a tool to control achievement goals. It organizes the work of the entire company. Provides accuracy of decision making, reduces the probability of errors. Effectively distributes the company’s resources: labor, financial, temporary, etc.

First, the company prepare a marketing plan and an advertising campaign for a new product by analyzing the youth market, identifying the desired product or service, developing a marketing plan and product promotion strategy. They also consider the ethical aspects associated with the truthful representation of the situation in advertising. to develop a business, you need a marketing plan. A proper marketing plan usually describes your target audience and how you will attract new customers, and also keep them, so that they buy from you again and again.

In the perception map, nappy limited should create a portrait of the target consumer, to whom you will sell. Analyze the demographic profile (age, gender, etc.), the psychographic profile (for example, the interests of clients), other possible desires and needs of the client, if they relate to the products and / or services that you offer (Khan 2014). Knowing your audience better, the company will be able to catch two birds with one stone – first of all, you will speak the language of potential buyers, and also you will be able to conduct your advertising campaign more targeted, which will bring a high return on your investment.

Product – Product – The product must meet the requirements that consumers expect.

Place – Places – The product should be available wherever your customer is located.

Promotion – Promotion – Advertising, PR, sales promotion, personal selling, and more recently social media – all these are key communication tools for business organization.

But over time, four R was not enough for a successful business. In fact, the 4P principle was enriched with three new elements, which allowed the expanded Marketing Mix to include products that are services, not just tangible items.

Market Analysis

It is part of the marketing strategy which is a tactical tool for marketing in which the company uses desired response for its target market. Product – a product, service or product. These include: basic and additional functions, options, key characteristics.

Price – the price of the product. It consists of cost, pricing policy, a list of bonuses, discounts and payment methods.

Place – the place of sale. This is the list of sites where you represent the product.

Promotional – a set of actions to promote the product. This includes the choice of the location of advertising, requirements for ads, budget.

By combining all these elements, you can analyze and determine the key issues that affect marketing decisions in relation to products and services. Until recently, P was considered one of the strongest marketing complexes for the sale of products. Therefore, the approach to the relevant business should be special. Services today are available in a variety of ways:

Make a post-poll in social networks and promote it to a similar audience. This is a good way to attract new potential customers yet the stage of planning. Gradually warm them up interest through remarketing. So you threaten never to release a product or service on the market. For example, in the Nappy ltd online store, this is the color of the product: Product variations as part of planning a marketing strategy 7 For a product, you can form several packages that differ in different characteristics. The higher the price, the steeper the functionality: Options for participating in a business as part of planning a 4P marketing strategy. Form the right price (Price) How to properly evaluate your product or service? Perhaps the company have ready-made formulas, for example the purchase price multiplied by a constant coefficient. Convenient, but not all this method is suitable. How to evaluate the efforts you invested in creating a product or training course? And put a price that does not scare away buyers. This is a problem with an asterisk. And it is during the development of the strategy that it needs to be given special attention. To avoid making a fatal mistake. Avoid mistakes when setting the price for your product – marketing mix1. Use these 5 rules for effective pricing. Be creative – invent new ways to sell more to existing customers or attract new groups of buyers. Listen to the target audience. Keep its comments in a special file and draw from it new ideas. Remember good decisions – make a base of advice on the formation of prices based on your own experience.

Nappy products are very similar in their look. Nappy limited should differentiate its product by packaging differently to attract is customers. The products should also be of high quality therefor being the best recognizable brand in the country.  Some of the question to be answered in product mix is How can we improve our products?

Your pricing and positioning strategy should step in step. If you want your company to be known as the largest brand in your industry, too low a price will look dubious and will scare off buyers (Kim, and Mauborgne, 2014). The product should always be regarded as an ideal price-quality ratio. This does not mean that it should be the cheapest. Customers, as a rule, are ready to pay more for a really high-quality product. This is one of the main principles of the marketing concept.

 In this section of the marketing plan, describe in detail how you position yourself, and how your pricing will contribute to this. The distribution plan details how your customers can receive the goods. Will they buy directly from your website, or through a distributor, or from other retailers, etc.? Consider different ways to deliver and sell goods to your target market, and then document them in this section of your marketing plan.

The promotion section is one of the most important sections of your marketing plan. This is one of their leading marketing “P” (Promotion) and refers to the way to attract new customers, that is, how you will promote your products on the market. Marketing materials are advertising materials that you use to promote your business to current and potential consumers (Kim and Mauborgne, 2014). This is your website, printed booklets, business cards, catalogs. There are many promotion tactics, such as television commercials, trade fairs, press releases, online advertising, event marketing. How actively does the company promote the products  in its own and paid media channels?

The place at which its products can be easily accessed should be known by the target market. Mostly distributors and supermarkets should have the products in the shelves. Nappies limited has had a lot of distribution and selling point for its products in Australia (Menon, and Edison,2015).

The company should have reliable distribution channels like wholesalers, retailers and e-marketing platforms where the customer can order the nappies online. Whether you like it or not, most customers these days go online to find and / or view new products and / or services before making a purchase. Adhering to the correct strategy of online marketing, you will be able to attract new customers and achieve a competitive advantage.

Also include the expected result from the client retention strategy, etc. In any case, your financial projections will never be 100% accurate. But in order to determine what expenses will provide you with the maximum return on investment, you should analyze everything. In addition, your financial prospects are also your goals (for example, the objectives of the attraction program) to which your company should strive (Solomon et al, 2014).

What describes simple truths, is written not in one day and can increase sales hundreds of times? Yes, this is a marketing plan for the promotion of the company. Your customers will buy from you again and again, and competitors will be jealous. Do you want to know how to create an effective marketing plan?

Conclusion and Recommendation

Marketing plan: most companies ignore the development of a strategy for promoting the market because they devote more time to the financial and production plans, whereas the marketing plan determines what kind of revenue this year will be. The company’s marketing plan, with its competent spelling, answers the following questions: how to reduce production costs; how and where to attract new customers; how not to miss the old buyers; what new directions it is necessary to master the company, etc. Marketing promotion plan is a real tool to reduce costs and increase the company’s profit! Officially, the market promotion plan can be identified as follows: a marketing plan is a set of planned solutions, designed as a document, compatible with other plans of the company and included in the company’s marketing plan. Thus, you will be able to assess how much the advertising campaign was successful, and also how correctly you chose the target audience. You can compare the costs, the number of marriage and other financial aspects of the company – changes in them can also be caused by the introduction of techniques according to the plan for product development.

References

Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.

Baker, M.J., 2014. Marketing strategy and management. Macmillan International Higher Education.

Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research, 2(1), pp.28-32.

Ferrell, O.C. and Hartline, M.D., 2014. Marketing Strategy Text and Cases, South-Western Cengage Learning. In Library of Congress Control.

Festa, G., Cuomo, M.T., Metallo, G. and Festa, A., 2016. The (r) evolution of wine marketing mix: From the 4Ps to the 4Es. Journal of Business Research, 69(5), pp.1550-1555.

Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.

Hadjikhani, A., Lee, J.W. and Park, S., 2016. Corporate social responsibility as a marketing strategy in foreign markets: the case of Korean MNCs in the Chinese electronics market. International Marketing Review, 33(4), pp.530-554.

Hansen, J.M., McDonald, R.E. and Mitchell, R.K., 2017. Marketing Benchmarking, Triangulated Isomorphism, and Firm Strategy. In Creating Marketing Magic and Innovative Future Marketing Trends (pp. 533-543). Springer, Cham.

Hosseini, S.M., Etesaminia, S. and Jafari, M., 2016. Identifying Eleven Factors of Service Marketing Mix (4Ps) Effective on Tendency of Patients toward Private Hospital. Materia socio-medica, 28(5), p.366.

Jaworski, B.J., 2018. Commentary: advancing marketing strategy in the marketing discipline and beyond. Journal of Marketing Management, 34(1-2), pp.63-70.

Khan, M.T., 2014. The concept of’marketing mix’and its elements (a conceptual review paper). International journal of information, business and management, 6(2), p.95.

Kim, W.C. and Mauborgne, R.A., 2014. Blue ocean strategy, expanded edition: How to create uncontested market space and make the competition irrelevant. Harvard business review Press.

Menon, A., Bharadwaj, S.G., Adidam, P.T. and Edison, S.W., 2015. Effective Marketing Strategy-Making: Antecedents and Consequences. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference (pp. 224-224). Springer, Cham.

Solomon, M.R., Dahl, D.W., White, K., Zaichkowsky, J.L. and Polegato, R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). London: Pearson.

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