Target Market Analysis & Profiling

This assignment focuses on understanding your target market. You will identify customer characteristics, purchasing behavior, and preferred locations to connect with them. It involves analyzing current customers, creating detailed client profiles (personas), and considering national/international regulatory issues and strategic marketing options. The final output is a comprehensive Consumer/Customer Profile approximately 750 words long.

BSBMKG516 – Profile international markets
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Task 1 Marketing case study
Assessment description and requirements
This assessment provides a short case study of segmentation (found in the appendix) and
questions which relate to them. Read the case study first, then answer the questions in the
spaces found below.
Specifications
You must provide:
 your completed assessment.
Your assessor will be looking for:
 answers which demonstrate an understanding of the principles and methods of profiling
international markets.
Case Study
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Aussie Hay and Feed has developed a new method of compressing and vacuum packing lucerne hay, which keeps it
fresh for more than three years. The invention has several benefits for the long term storage and use of lucerne hay
over traditional methods of baling and storage.
The benefits include:
 reduced transport costs by 75%
 reduced storage costs by 75%
 dramatically extends storage time in hot, dry weather and hot, humid weather
 retains its visual appeal by remaining green inside the block and on the exterior if a black plastic bag is used
for vacuum packing
 reduces risk to horse owners and breeders of the vagaries of fresh chaff supply
 dramatically reduces the risk to horses of mould in humid weather
 reduces risk to farmers supplying lucerne to Aussie’s business of the vagaries of supply and demand
 lucerne hay itself is a high protein natural feed that is highly suitable for horses that are ‘working’ to keep
them in condition with good muscle mass.
The competition for the new product are:
 traditionally baled lucerne hay, which takes eight times the space and becomes dry and dusty over a period
of a year
 compressed lucerne hay with additives that subject the product to mildew attack
 pelleted compressed lucerne hay, which becomes dry and dusty if not used quickly
 grain feed which is much more expensive but higher in protein content.
Ausssie conducted research into export markets by:
 investigating Austrade data on exports of hay, lucerne and other feeds
 investigating Austrade data on export of live animals
 investigating supply requirements in Japan through an importer of hay and hay products
 investigating the horse racing industry in the Middle East, Japan, Singapore and Hong Kong.
Aussie identified the following facts and figures.
The global export market for hay products in 1997 was reported as being valued at $1.05B, with
the vast majority being exported to Japan and the major suppling country being the US.
Typical importers 1997 values
A$'million
Typical exporters
Japan 900 Australia 50
Middle East 40
760
Taiwan 15 Canada 155
Korea 30 Taiwan
Note: Taiwan exports rice straw and imports
high quality fodder for its dairy industry.
Hong Kong 10
Macau 2
Singapore 2
South East Asia 6
Live cattle exports were valued at $600M, consisting of approximately 600,000 cattle requiring 1.3 million tonnes of
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1997 values
A$'million
USA

fodder.
Exports to Japan needed to be proven to be biosecure by testing through the Australian Quarantine and Inspection
Service.
Aussie also identified that to be successful in the Japanese market, packaging and labelling needed to be of a higher
standard than he used in sales to Australian horse owners. The packaging he currently uses is black polypropylene,
to cut out light to maintain a fresh green look to the lucerne when it is opened. The labels are computer generated
with a simple layout and with the minimum information required by regulation printed on a white label.
Aussie identified the following export segments.
 Dairy industry in South East Asia and Japan.
 Horse racing industry in Japan, Singapore, Hong Kong and Middle East.
 Leisure horse industry.
 Live cattle exports to the Middle East, Malaysia and Indonesia.
Aussie identified his market as horse owners and wholesale suppliers of horse products in Japan and the Middle
East. Aussie determined the total market to be worth at least $200M being 20% of export chaff for horses. Aussie
preferred Japan because of its size of market and its proximity to an Australian time zone.
Aussie identified his target segments as:
 owners and trainers of race horses in Japan
 dairy industry in Japan.
Aussie identified the following marketing options.
 Creation of a website to hold:
o case studies
o testimonials from well-known people in the horse industry.
o technical data and reports about the product
o photographic evidence of the storage saving attributes and long lasting qualities.
 editorials and advertisements in horse and dairy magazines in Japan
 direct sales to partner resellers, using samples to familiarise the resellers and customers with the product
 agricultural trade shows in Japan using a partner distributor.
Aussie has met his potential distributor once in Australia but has been reluctant to travel to Japan. He has explained
to the distributor that he cannot afford the time away from the farm each time he received an invitation. Whilst this
was partly true it is also because of the cost to his start-up business.
Aussie positioned his product as ‘Long-life chaff’ with a premium pricing of 30% above competitive products.
Aussie had production capacity to sell 300 tonnes of product before needing to expand his production.
Answer the questions below about the Case Study. Click in the space provided and type your
answer.
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1. What international markets were considered by Aussie?
There are different types of international market can be considers by Aussie such as China, UK, Singapore and
America. This is because, from the help of case study analysis in Singapore it is opportunity to Aussie to
expand their operations because they earn only 2 million from industry. In addition to this, within the market
of China and UK the company can easily analysis performances which creates various benefits to enhance
revenue and profits.
2. What criteria did Aussie use to determine the suitability of Japan as an international
market for AussieVac products?
In order to attain profitability and revenue, Aussie can use advertisements, promotion through television and
many other elements to focus on international market. Beside this, they have ignored computer generated
results which creates problems to expand business operations in new areas. In China and UK, there is no
dairy industry so that it create problems to expand business operations. In Japan more various suppliers are
take place who provides raw- material within the whole nation. They earn more than $900 million at
workplace.
3. What criteria did he not use?
Aussie not use internet sources.
4. What may have been the impact on the success of Aussie’s marketing plan of his choice
of criteria?
With the help of criteria marketing plan of Aussie has wide and positive impact in term of successful
operations. In this aspect, he has choice to use different sources which needed for accomplish their targets
market. Further, it also generates positive impact through assessing products from market research
program. Aussie has effective capacity to sell more than 300 tonnes of products. Thus, it expands their
production with premium pricing above the competitive products. It makes positioned as long life chaff to
attain maximum efficiency at workplace.
5. Was Aussie ready to market his products in Japan?
Yes he is ready to market their products in Japan. This is because, Japan has high worth within a total
market. It has been determined that they have worth at least $200 Million.
6. In what way did he demonstrate readiness?
Aussie use different types of resources such as advertisements, websites and direct sales that determine to
concentrate on profits and revenue. In this way, testimonial use from well known people in horse industry.
Technical data can support to each activity which is related to products and services. Further, photographic
evidence can save attributes in term of long lasting qualities. In addition to this, Aussie also attain
agricultural trade shows in Japan through partner distributors. Editorials and advertisements in horse and
dairy magazines are also used in Japan. Aussie preferred Japan market because it is proximity to Australian
time zone.
7. Can you suggest other information or activities could have undertaken to be ready?
Aussie also need to assess market information through conducting research program in term of
development. He need to assure information regarding customer demand and requirement. It will assist to
get right information from the market to access customer base. In addition to this, there are various other
sources which shows readiness that is photographic evidence attributes, long lasting qualities and
agricultural trade shows in Japan.
8. What was Aussie’s positioning strategy?
Aussie used long life chaff with premium pricing policy that describes for attain productive products.
Premium pricing strategy is more than 30% above competitive products. With the help of this, production
capacity is enhances which needed to expand production.
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9. What additional data would have been helpful to prioritise Aussie’s marketing options
for the Japanese market?
With the help of primary data, Aussie can enhance their marketing operations in different areas. In this way,
Japanese market requires perform functions and operations through assessing customer requirement and
undertake activities. In addition to this, he can also use secondary data that are requires make effective
position through access information from market areas in which the enterprise serve products and services.
There are different data identified within the market which useful for enhance operations in new areas. In
this aspect, different country supplying raw material within the nation. It includes Japan, Middle east,
Taiwan and many other nations.
10. What issues was Aussie likely to encounter culturally with his current plan?
In the market various types of issue are occurs at workplace which create adverse impact on operations.
In this way, population, discrimination and violence can encounter to culture development. In this aspect,
Aussie need to concentrate on it carefully. In addition to this, they are also found that grain feed are very
expensive to produce products within the market.
11. What targeting strategy did Aussie use?
Aussie can use undifferentiated targeting strategy through they can target to different types of people
through one element. It will assist to get more revenue and profits from different aspect and attract potential
customer at workplace. Targeting strategy used through creating website. It includes testimonial from well
known resources in horse industry.
12. If you were CEO of Aussie what actions would you take next?
If I am CEO of Aussie, I take following actions after these elements:
 Gain effective information and resources to meet with plan.
 Development of business through assess market.
 Enhance transportation facility which requires perform effective functions
and operations.
 Concentrate on market demand and serve accordingly.
Task 2 Consumer/ Customer Profile
Assessment Description and Requirements
Using the case Study information and your responses to questions 1 – 11 you are required to
prepare a Consumer/ Customer profile in a short Report format as follows: -
Procedure
Follow these 5 simple steps to learn more about your existing customers, in order to find more
customers like them.
Describe Your Customers
Understand who your ideal customer is and what similarities they have. Define your customers with the
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following criteria:
 Demographics – their age, gender, income, etc.
 Psychographics – their personality type, preferences, etc.
 Behaviour – their similar likes and dislikes, sports, hobbies, etc.
You should also note characteristics of your ideal businesses to work with, including:
 # of employees
 Revenue
 Geographic scope
 Type of business
 Decision-making
 Budget
Locate Your Customers
Find the places your customers are attracted to, whether a physical location or a cyber space where they
gather.
 Where do they hang out?
 What do they read? Both online and offline?
 What do they search for online?
Understand Their Purchasing Process
Review the needs and benefits that make your customers purchase your product or service.
 Where do they begin their research?
 What is their problem or need?
 What are the benefits to finding a solution?
 Do they make purchases by impulse?
 Do they seek out referrals?
 Will they need approval by a committee before making a purchase?
Connect with Current Customers
Consider your current customers to gain additional insight into what made them select your business
over others. Conduct interviews, formally or informally, and ask them:
 How did you originally find our company before contacting us?
 Why did you originally buy from our company?
 Why do you continue to buy from our company?
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 What do we do that others don’t?
Create Client Profiles (Personas)
Create profiles that describe specific segments of your current clients. Ensure that the profiles are
tangible, so that you can envision this person and what would motivate them to find your business.
 Describe your clients in written profiles, called personas
 Create a specific persona for each identifiable client group and name them
 Include images of ideal clients, either real or a hypothetical individual
Once you have completed these five simple steps you will have a clear picture of the type of customers
your business should be targeting.
Specifications
Your assessor will be looking for:
 the use of appropriate suitability criteria
 the use of appropriate sources of information
 selecting the market in accordance with the criteria
 identification of segments within the market which were useful
 defining the target market in terms of prospective users of a product or service
 identification of national and international regulatory issues and appropriate planning responses
 identifying strategic marketing options and selecting appropriate targeting strategies
 the use of segment descriptors to describe the target market
 the use demographic and or psychographic descriptors in the consumer profile
 identifying believable position strategies relative to competitor positioning for the product or
service
 assessment of and response to cultural issues in product use, language, colour and sales approach.
Important – the Consumer/Customer Profile is required to be approximately
750 words long/word count.
Please note: ILSC can use third party software to detect plagiarism
You can paste your assessment below this line or upload a separate file to Moodle.
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