BSBMKG609 Develop a Marketing plan
Added on 2021-01-02
13 Pages3728 Words264 Views
Marketing
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BSBMKg609 Develop a Marketing planAssessment 1Submitted by:<Student name><Student Id>
Student NameStudent IIntroductionThe below report identifies the importance of marketing and marketing strategieswithin an organisational environment. The chosen organisation is Temple & Webster. It is anAustralian home wares and furniture retailer company headquarters situated in Sydney,Australia. The company is developing new home décor products such as sofa, chairs, diningtables etc. The report in context of Temple & Webster develops a marketing plan and itsimportance.The company wants the brand to explore new markets and create an image which isbetter than their competitors. Also, the company wants other people such as its stakeholdersand its consumers to say positive things about the brand to create a good word of mouth(Fine, 2017). Organisations vision:The vision of Temple & Webster is to serve consumers all across the world with thebest quality products. Also, to create an organisational environment supports the growth anddevelopment of its employees.Organisations mission:The mission of the organisation is to provide world-class services to its consumers.Also, to provide earn profits that supports organisational growth and development (Chernev,2015). Organisations Values:Temple and Webster's values are the provision of Reliability, Loyalty, andCommitment to its customers and stakeholders.Marketing objectives:Marketing objectives are goals set by Temple and Webster while the promotion of itsservices and products. These set goals need to be achieved within a given time frame. Belowmentioned are the marketing objectives of the organisation: 1. To achieve a better consumer base2. To earn profits 3. Building Brand Awareness In what ways these Marketing objectives are achieved:The organisation makes use of right strategies and developments to achieve thedesired marketing objectives. These marketing strategies help the organisation to achieve thedesired objectives and achieve required growth and success. Purpose of Marketing Plan:The marketing plan is produced in order to market the new home décor productproduced by Temple and Webster. The developed marketing plan is going to ensure successin marketing and promotion of the developed home décor products.The information contained in that plan is going to provide a brief understanding ofmarketing for an organisation. Along with it, it will help in the analysis and evaluation of themarket objectives and the tactical decisions made by the target market.
Student NameStudent ISituational analysis on Current Products:The current products of Temple & Webster includes a variety of office, home, kidsand casual furniture products. StrengthsWeaknessesOpportunitiesThreatsThe current productsof Temple andWebster are mostlywooden and areproduced with thebest quality wood.Temple & Websteroffers services suchas customer enquiries,relationshipmanagement, and avariety of customerengagement servicesetc. which ensures asuccessful marketingand growth. The pricing of currentproducts is mostlylevelled to the midrange markets. Theseset prices ensureproper products saleswhich is makes ithard for theorganisation to gainbetter marketadvantage (Jarach,2017). Different ways ofdistribution includesretail, direct/internet,direct/sales,wholesaler anddistributor etc. Thedistribution channelsused by Temple andWebster includesdirect/internet, direct/sales and retaildistribution. This isan opportunity for theorganisation todevelop its productrange and ensurebetter marketing.The promotion doneby the company ismostly through printadvertising. This is athreat for theorganisation as mostof its consumers areon make use ofinternet and socialmedia to buy theproducts. It isimportance thatTemple and Webstermakes use of onlinemarketing as well.
Student NameStudent ISituational analysis on Current Target Markets:Below mentioned is the situational analysis on Current Target Markets:
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