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Blue Ocean Strategy Assignment

Added on - 22 Nov 2020

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MARKET ANALYSIS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................1Target market description............................................................................................................1Blue Ocean Strategy..................................................................................................................1Customer Journey map..............................................................................................................2Value Propositions.......................................................................................................................3SMART objectives.......................................................................................................................57Ps tactical plan...........................................................................................................................6KPIs and measures for the objectives..........................................................................................8REFERNCES...................................................................................................................................9
INTRODUCTIONMarket analysis is that process which includes qualitative and quantitative assessment ofoverall market, looking up to size of marker in terms of volume and value, competition,economic environment for barriers to regulation and that of entry and of various segments ofcustomers with their buying habits (Armstron and et.al., 2017). The current report is concernedwith analysis of market of indigenous tourism market of Queensland for introducing beefproducts within tourism sector. For this “BlackFella Beef Limited” is taken as social enterprisewhich is operated by Western Kangoulu peoples. The whole report will be covering marketanalysis with various strategies and 7P’s tactical plan as well.MAIN BODYTargetmarket descriptionTarget markets will that that particular group of people or customers who are selected oraimed by company to sell and make their marketing efforts. Target market could be divided intospecified demographic or geographic area of market. For the BlackFella Beef Limited targetmarket will be indigeneous population that of Rockhampton, Queensland Australia which isregarded to as best suited. This target market will be creating positive impact on the peopleliving within Australia. Other than this main reason will be providing proper supply of foodproducts and then creating supply chain helping in developing brand name within country. Asthere are many cattle property within the land of Australia and cattle are also regarded to as firstpeople of country (Corey and et.al., 2017). Main purpose or aim of BlackFella Beef will begiving their people who are residents of Queensland for past 65000 years back their land andprofits made out of beef selling. The target market of BlackFella will be given back theirsustainable living with giving them education, training, purchasing land, income, food and jobsas well. The specified aim of BlackFella beef will be:To provide employment of selling beef for the local residents of AustraliaTo provide people with education and training opportunitiesTo focus on beef product system in way of providing branded productsTo build wider red meat industry in regional areasTheir main objective will be providing profits back to indigenous people of Australia sothat this could be helping them for the purpose of food, health, education, training and landpurchase as well. For this reason Queensland will be the taken as the target market due to their1
cattle stations. The cattle and cattle man are big and very important part of history of Australiathat too for about 200 years (Faircheallaigh, 2017). Thus within the indigenous tourism marketwill be very much interested within learning about the history of Australia, their culture and foodof that is telling story about the BlackFella Beef.Blue Ocean StrategyBlue ocean strategy is that which understands the overall market and tend to launch newset of products and services to a location where there is less or no competition. It is a strategywhich focuses on enrichment of the market and capitalise upon the opportunities available. Blueocean will be that market or industry which is not existing in present scenario while they areabout to start new product and grabbing opportunity within market. There will be no sort of rulesor regulation as there is no competition as well so companies are having potential benefit ofexploring market space which is wider and vast. There are many analytical tools and frameworkin way of executing and formulating blue ocean strategy for BlackFella Beef Limited.Figure1: Value Innovation[Source:Love, Moore and Warburton, 2017]For the company it will be included that Value Innovation is the best framework for BlueOcean strategy. Under this tool there will be addressing the low cost and differentiation so thatcompany would be easily creating value for buyers and themselves as well. The value tocustomers is calculated from price is deducted from the offering utility as it will be generated2
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