This report discusses the marketing plan for Di Bella Coffee, an Australian coffee company. It covers the company overview, objectives, issues, STP analysis, and opportunities and threats analysis. The report also includes the marketing strategy, action programs, budgets, and controls of Di Bella Coffee.
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Marketing Plan for Di Bella Coffee
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EXECUTIVE SUMMARY Marketing Pan can be defined as the summary of policiesand objectivesof the organisation. It is very essential to formulate proper marketing plan to build customer's value and increase the market share of the business. Marketing assists in developing value proposition for the consumers by offering various alternatives in the products. The report is prepared on the case study of Di Bella Coffee for formulation of its marketing plan. This will direct the company in creating value for the consumers by identification of the target segments and analysis of opportunities and threats.
Table of Contents EXECUTIVE SUMMARY.............................................................................................................2 INTRODUCTION..........................................................................................................................1 MAIN BODY...................................................................................................................................1 Overview of the company......................................................................................................1 Objectives of Di Bella Coffee to create customer value........................................................1 Issues of Di Bella Coffee to create customer value...............................................................2 Current Market Situation – STP Analysis of Di Bella Coffee Threats and opportunities Analysis..................................................................................................................................3 STP analysis of Di Bella Coffee.............................................................................................3 Budget.....................................................................................................................................8 Controls (For monitoring the progress)................................................................................13 CONCLUSION..............................................................................................................................14 REFERENCES.............................................................................................................................15
INTRODUCTION Marketing can be defined as the activities or tasks which are performed by business for promoting the products in the market. There are various elements which are involved in this process such as seeking, advertisement and transferring the goods and services to the consumers or the companies. The organisations must examine the target market for addressing the needs and wants of the consumers. The companies must analyse the opportunities and threats for making strong and effective decisions(Adi, 2022). The report is prepared on Di Bella Coffee which is an Australian organisation. The company was founded by Philip Di Bella in the year 2002. The headquarter of the business is situated in Brisbane, Australia. The report will discuss about the marketing plan of the organisation. The objectives and issues of Di Bella Coffee are also covered in the report. The report also involves the STP Analysis and analysis of opportunities and threats of the business. The marketing strategy, action programs, Budgets and Controls of Di Bella Coffee based on the case study. MAIN BODY Overview of the company Di Bella Coffee is an full-service coffee organisation headquartered in Australia. The company is serving its coffee beans and coffee in various countries of the world. The business has become a household name since it supplies more than 10 signature blends of coffee. It is performing well in the industry of coffee. Over the last 10 years, the business has expanded in various parts of Australia. There are various advertisement channels which are used by the organisation such as promotion and public relations for promoting the brand. A product called TORQ is innovated by theDi Bella Coffee in order to compete with existing leading instant coffee companies in the market. Objectives of Di Bella Coffee to create customer value A customer's value proposition is a marketing statement which provides various reasons to the consumers for buying the product(Chernev, 2020). It is very essential for the organisations to create customer value for increasing market share and enhancing customer's satisfaction. The marketing objectives in respect to Di Bella Coffee are as follows: 1
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Creating a Brand value :Themarketing objectives of Di Bella Coffee Company involves creation of the brand value for its target customers. The company also uses various social media platforms for creating value for the consumers by interacting with them on Facebook and Twitter. Customer Value Proposition :The organisation has emotional attachments and high brand awareness with the customer's due to collaboration of business with various sports activities. The company also initiated various activities in order to create customer's value(Fotiadis, Mombeuil and Valek, 2018). Increase Market share:Every business aims to increase the market share in the industry. The objective of Di Bella Coffee is to increase the market share by focusing on developing a large customer's base. The company has used technological developments for establishing a online store MyDiBella.com. This has helped in reaching to a large segment of the audience. Promotional Objective:There are various advertisement equipments which are used by organisations to increase the value of customer's. Di Bella Coffee uses various social mediaplatformssuchasFacebookandTwitterformakinginteractionwiththe consumers. It also uses different communication tools for making communication about products and strategies. It also takes the help of magazines and ads for achieving its promotional objectives. Issues of Di Bella Coffee to create customer value Standardization of Products :The company is facing the issue of standardization as it reduces the flexibility of a chain to cater the regional tastes and expectations. The organisation cannot satisfy every customer in the market. Low consumption of Milk-based Products :There is less demand of Coffee related products in Asian Markets as compared to Western nations. The reason behind this is the presence of lactose in the milk products which does not suits the people. 2
Current Market Situation – STP Analysis of Di Bella Coffee Threats and opportunities Analysis It is very essential for the organisations to identify the potential threats and opportunities in the business. The companies receives the benefit of formulation of marketing policies in order to maintain a dominant position in the market. This is useful for increasing the base of the consumers in the market. The threat and opportunity analysis of Di Bella Coffee is discussed below: Threats Intense competition :The major competitors of Di Bella Coffee are Starbucks and Cafe Coffee Day. The organisation has very strong competition and it is the reason the company is offering high quality coffee products of to the customer's in the market. It also develop fear of decreasing marketing share of the business(Kinlen and Golding, 2021). Worldwide pandemic :The drinks of Di Bella Coffee are consumed in various occasions such as parties and sporting events. The restrictions of pandemic have delayed the process of advertisement and also reduced the sales. Opportunities Emerging markets :The main markets of Di Bella Coffee is Australia and New Zealand. The company has to make strategies for making products available in countries of Asia, Africa and Latin America. Expansion of product range :The company provides only coffee related products. It can focus more on R&D for innovating more healthier products. Di Bella Coffee can expand its range of products. STP analysis of Di Bella Coffee STPreferstoanalysiswhichhelpsthebusinessesinmakingproperstrategyfor identifying the most essential customer's. It is performed to break the market into various smaller segments. STP analysis on Di Bella Coffee is discussed below: 3
Segmentation:It is a framework where customer's are divided into different segments for identify the needs(Shields, 2019). The Di Bella Coffee has divided its market into various parts to reduce wastage of products. Demographic:It is prepared on the basis of certain factors such as age, gender, income etc. Di Bella Coffee has grouped the products: Age: The target market of Di Bella Coffee are youngsters and middle age persons. Gender: It has focused on both on man and women but significantly male audience. Targeting:It is related to target the audience on the basis of certain factors. Di Bella Coffee has targeted the consumers which are students and teenagers mainly. The company also sells its products in various markets which help in attracting more customer's. Positioning:It is related to the maintaining position of the business in the market. Di Bella Coffee has focused on offering products at a reasonable rate which helps in developing a loyal customer's base. 4
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Product: In order to satisfy the needs and wants of the individual, a commodity is produced or built(Sharma,KaurandSyan,2021).Butbeforedevelopinganyproduct,thebusiness organisation needs to extensive research from the growth phase to sales decline phase(Awan, Arnold and Gölgeci, 2021).In respect to the Di Bella, the leading product is coffee. The company is the leading coffee brand globally after expanding its operation into the Asian markets. The respective company also provide fusion of two traditional forms of coffee i.e. espresso and instant coffee which led to the development of the TORQ. This coffee is new invention by the Di Bella which has been introduced on the international platform. By innovating new product, the firm has attracted all kinds of customers. Although Di Bella's speciality is TORQ, but it has developed other variety's of coffee also which attracts large number of customers. The company is also dealing in premium coffee, roasted bean coffee, bulk coffee and retail packing pack coffee in order to fulfil the demand of the customers globally. The Di Bella is mainly focusing on expand their new innovation product TORQ Which is made from high quality coffee beans and filtered water. This is currently leading in the market and is provided in convenient liquid form. By providing high quality and innovative coffee, the respective company are able to maintain its good position in the domestic as well as global pace. The Di Bella coffee is sourced from finest growing regions globally, with all coffee roasted in order to maintain the high quality standards. By launching its operation in the India and China the firm were able to match its international vision and global mindset. The three level of product which Di Bello accompanied with the coffee are: Core customer value: This is the most basic level and are intangible in nature(Howells, 2018). Here the core value of the coffee is that individual's energy level is boosted up after the intake of coffee. Actual product: In this level, the product are tangible in nature such as coffee beans and the packing of the coffee. Augmented products:This basically add lots of value as it is basically the after service which company can provide its customers. The Di Bella company can provide buy one get one free services for the next time purchase of the coffee to the customers. Pricing:This is one of the most important element in the marketing mix. As it consists of the price of the product which customers are willing to pay(Long, Lu and Cui, 2019). Here the company should decide the piece according to the customers because little shift in the price can 5
affect the firms demand and supply. In context to the Di Bella company, they have adopted pricing strategises according to its competitors such as Starbucks. Being a coffee company it faces intense competition within the market. So, by providing innovative and high quality coffee it has developed its good brands image in the eyes of the customers globally. So, some of the pricing strategy are as follow: cost based strategy:Here the company basically price the product on the basis of production, base cost and some profit are added in it(Scheidegger, Linzmajer and Rudolph, 2020). This method of pricing are fair and easy to understand. It is beneficial while setting the price of the innovative product. Value based strategy: the company adopts the pricing strategy based on the product benefit that are perceived by the customers. Here the company base the price of the product on the basis of the belief and value of the customer. Competition based strategy:This pricing strategies is adopted by the company after observing the competition. The company takes into the account the price after knowing the rivals selling price. Di Bella company provides the high quality of the product to the customers so it should adopt cost based strategy which is fair enough in nature. This strategy helps in gaining more growth as Di Bella has introduced new product which is TORQ. So, to make the product more customer friendly it has to adopted the cost based strategy. Place and distribution strategy: This strategy refers to the point of sale. The business organisation should where to distribute the product. They should know the right place to distribute the products among the customers(Li and et. al.,2021). Here the Di Bella offers the product to the customers through online website known as MyDiBella.com and also through stores. Through online site the customerscanviewDiBellacoffee,TORQcoffeealongwiththeconsumablesugars, sweeteners, syrups and biscuits. TORQ by Di Bella directly soldto wholesalers and consumers worldwide. Di Bella Coffee was also the first coffee chain in India to have a fully digital interactive platform throughout all stores, including the use of tablet computers on each table for menu ordering and internet and email usage. The software has been designed to 6
include social networking interaction to ensure that consumers have a personal connection with the Di Bella brand. There are 3 distribution strategy which Di Bella can adopt that are as follow: Intensive: Here the customers accept the brands if the particular brand is not available then customers simply chooses another brand(Kavenia, 2019). Here all the alternative are involved at the outlets that can be used to distribute the product. Selective: Here the business organisation selects specific geographical areas or outlets to sell the products. Exclusive: The firms uses one wholesalers, retailer or distributor in specific geographic area to sell the product. Here the Di Bello company should use selective strategy of distribution in order to sell the product as it should focus on selected outlets so that it can gain more growth and profits. Promotionstrategy: This refers to the action taken by the company in order to make the product familiar with the customers(Azmat and et. al., 2018). The respective company can adopt different ways of marketing the product such as advertisement, public relation in order to grab the attention of the customers. The Di Bello company can adopt two promotion strategy that are push and pull strategy which are discussed below: push strategy: It refers to the promotional strategy where the company takes the product to the customers. This technique of the promotion helps firm to push their products to be seen by customers so that it can be purchased by them in right time which increases the demand of the product in future. Pull strategy:the goal of this strategy is make the consumer to actively seek for the product which helps in developing brand equity and product value. This helps the frim to create direct relation ship with customers. Being a coffee company, Di Bella can use pull strategy as the company provide its services online and can have direct contact with the customers. Through the website the firm can contact with the customers directly that helps them to know more about customers demand by solving query and FAQs. Action Programme 7
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DiBella is one of the leading business in coffee as it has provided customers with the different variety of coffee. By establishing its operation in India and China, they were able meet the international vision. By providing its innovative product TORQit has gained competitive advantage in the international market. The Di Bella company needs to give more focus on promotion strategies through which they can gain more profits. The company should basically needs to give more focus on needs and wants of the customers so that they can meet required standardisation.The Di Bello needs to make efforts in production sector so that they use the products in making coffee according the customers health. The company needs to give more focus on sustainable development that ensures the long term growth and profitability of the company. So that they become more competitive and be more customer oriented. Budget A budget is basically a an estimation ofthe revenues as well as expenses for future period. A budget is compiled and reformed on regular basis(Zhang and et. al., 2021). Budget can be made for different types of people or group of people and or for a business. This plays a very important role for the success of business. In context to the Di Bello Budget has been discussed below: - ParticularsAmount Advertising expenses£2,000.00 Cost incurred in technology£2,000.00 T and D expenses£900.00 data collection£600.00 Raw material£200.00 Furniture£3,000.00 Consumable goods£2,000.00 Machinery£500.00 Salary£5,000.00 8
Cost of fuel£3,000.00 Total£197,00.00 Profit and loss 9
10
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Controls (For monitoring the progress) The evaluation and monitoring of the marketing plan totally pays attention on the quantity in terms of revenues and reaching a product to the consumers. Both the factors are to be considered while monitoring the marketing plan. This will help in understanding and checking whether the strategies which are formulated byDi Bella Coffee will assist in achievement of targets and objectives of the business. The various tools and methods for evaluating the performance of the organisation by applying these marketing strategies are discussed below: Customer response: It is very essential for taking into consideration the response of the customer's. This helps in measuring the efficiency and effectiveness of the marketing plan prepared by the company.Di Bella Coffee has established a proper team which regularly conducts public opinion tests and various market surveys in the public interest which helpsinidentifyingwhethertheformulatedmarketingplanissuccessfulor not(Sumarwan, 2019). Target for sales return: It is very tough to evaluate the exact figures of revenues by the organisation.Di Bella Coffee makes sure to keep an approximation of the sales achieved by the company. This will assist in getting an estimation of the counts which leads to analysis whether themarketing plan is successful or not. 13
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CONCLUSION From the above report it can be concluded that the marketing activities are very essential for the company in order to enhance the performance across the markets. It also creates better value for the customer's for gaining the targets and goals efficiently and effectively. The report has involved a detailed analysis of the company and its product, competition and distribution with the assistance of STP analysis. The various opportunities and threats in the market have been identified in this report for the product. The analysis of both the positive and negative impacts in respect of theDi Bella Coffee. The marketing strategy with the help of 4Ps of marketing mix is analyzed with respect to the organization. The detailed allocation of budget for the profile of the project and various marketing activity of the business. Lastly, the various control measures have been discussed for monitoring the performance of marketingactivities for meeting the objectives of the organisation. 14
REFERENCES Books and Journals Adi, N., 2022. Social Media Marketing Plan: Case Company INGO. Awan, U., Arnold, M.G. and Gölgeci, I., 2021. Enhancing green product and process innovation: Towards an integrative framework of knowledge acquisition and environmental investment.Business Strategy and the Environment,30(2), pp.1283-1295. Azmat, and et. al., 2018. Universities and industrial strategy in the uk: Review of evidence and implications for policy. Chernev, A., 2020.The marketing plan handbook. Cerebellum Press. Fotiadis, A., Mombeuil, C. and Valek, N.S., 2018. Designing and implementing a marketing plan. InThe Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality. Emerald Publishing Limited. Howells, G., 2018.Consumer product safety. Routledge. Kavenia, K., 2019.The influence of promotion strategy towards customer purchasing decision: matahari department store medan fair(Doctoral dissertation, Universitas Pelita Harapan). Kinlen, A. and Golding, D., 2021. You Can’t See It!–It’s Electr-onic! A Fictional Marketing Plan for a Public Library’s Unseen Resource.The Serials Librarian,81(2), pp.213-222. Li, and et. al., 2021, May. Thea Ability Requirement and Promotion Strategy of Professional Teachers in Newly-built Universities in the Context of New Engineering Disciplines. In2021 2nd International Conference on Computers, Information Processing and Advanced Education(pp. 379-382). Long, W., Lu, Z. and Cui, L., 2019. Deep learning-based feature engineering for stock price movement prediction.Knowledge-Based Systems,164, pp.163-173. Scheidegger, G., Linzmajer, M. and Rudolph, T., 2020. Price discount strategies in times of increasing price transparency: How price consciousness and price comparison moderate the effect of discount strategy on store price image.Die Unternehmung,74(4), pp.384- 402. Sharma, R.R., Kaur, T. and Syan, A.S., 2021. Sustainability marketing mix. InSustainability Marketing(pp. 147-161). Emerald Publishing Limited. Shields, A.C., 2019. Developing a Basic Marketing Plan.Law Prac.,45, p.14. Sumarwan, U., 2019.Pemasaran Strategik: Perspektif perilaku konsumen dan Marketing plan. PT Penerbit IPB Press. Zhang, and et. al., 2021. Powernet: Learning-based real-time power-budget rendering.IEEE Transactions on Visualization and Computer Graphics. 15