E-Marketing Plan for Small and Medium Enterprises in Australia
Added on 2019-09-30
12 Pages4207 Words73 Views
E-Marketing PlanFor this assessment, you are required to select a firm or brand. The firm should have an active English website. You need to prepare an e- marketing plan for the selected firm or brand in Australia (do not do brands like apple, Samsung or franchises, look at small and medium enterprise firms/brands. Eg. Clothing stores, shoe store, industrial firms etc.)You should follow the guide below and, prepare the e-marketing plan for the selected brand or firm accordingly. The length of the e-marketing plan should not be more than 10 pages (12 font; 1 inch marginacross all sides) excluding the cover page, table of contents, references and appendices. You write up beyond the first 10 pages worth content will NOT be marked.Please see below what you need to do in brief:1.Introduction: Focus on the company (first paragraph) and its industry (second paragraph). 2.Situation Analysis and SWOT analysis: Focus on the micro and macro environmentalfactors that the company is facing with special reference to the company’s online presence. Then you need to prepare a SWOT table for the company – list of S (Strength of the company), W (Weaknesses), O (Opportunities) and T (Threats).3.E-Marketing strategic planning: Focus on company’s segmentation, targeting, differentiation and positioning strategies especially for its operations in online. i.e. what specific customer base the company is targeting by going online, how it is differentiating from its competitors, and how it is positioning its offers to the customers’ mind. It is recommended to show a comparative view of the current and future segmentation, targeting,differentiation and positioning strategies of the firm. 4.E-marketing objectives: State 2 to 3 e-marketing objectives that the company may wish to achieve in next 1-2 years. It could be increasing online customer base by XX%, as an example. 5.Marketing mix strategies - Now you need to recommend 4 P strategies through whichthe company can achieve the above mentioned objectives and describe those strategies.6.Implementation – In order to implement the planned strategies, you need to execute several relevant activities such as – making the website more interactive (as an example), pursuing AdWords PPC campaign, something like that... Thus, in this section, you need to discuss the relevant activities that are required to execute in order to implement the 4 P strategies. 7.Budget and Evaluation – This is more of arbitrary than actual numbers. You need to guess realistically how much the company need to spend for all these activities. Then discuss how you will measure/evaluate the effectiveness of your plan i.e. specifically what matrix you will look for to check whether you have achieved your objectives or not. Look at the Example below:1 | P a g e
Example plan:E-MARKETING PLAN – TIMBREIntroductionTimbre Group Pte Ltd was established in 2009. Timbre was initially established inSingapore, with a communal motive to enhance Singapore’s music scene by refining thetalent of local musicians. The Timbre Group, since then, have expanded their business bydiversifying their business portfolio; assorting from concerts and festivals promotion, food &beverage and music education. In the present-day, it comprises two international festivals(Roots and Beerfest Asia), six live music restaurants and bars, an artist managing agency,two academies and a pizza restaurant with delivery services. The Timbre Group prides itselfon the vast range of established brands, though this essay’s focal point would on Timbre, thefood & beverage line with live music venues. Timbre is a restaurant cum bar with live music. The three significant outlets, in Singapore cater to alfresco dining. Timbre is popular, amongst the youths of Singapore for their pizzas, beers and live music. The performers are usually students of Timbre Group’s music academy, introducing their original music incorporating the local pop-culture, and the customer’s favourites. The pizzas have been recommended as ‘one of the best pizzas in Singapore’ by famous local food bloggers. Timbre also serves over 50 award-winning brandsof craft and commercial beers; which justifies Timbre being fully booked or full house every weekend. The food and beverage industry has been popular amongst the Singaporean residents. Studies acclaim an increase of 5.4% in the sales of food and beverage services, in January 2014 (Department of Statistics Singapore, 2014). The industry, already being massively competitive has welcomed Timbre as a success. Timbre, having targeting the ‘youths’ in Singapore need to incorporate their online presence to enhance their business effectively.2 | P a g e
Situation AnalysisPEST AnalysisPolitical environment in Singapore has proven convenient for the Timbre Group.Singapore has grown to be a hub for many industries, and has magnetized vastnumbers of foreign talents and investments, due to its reputed democratically stablepolitical scene. The Singapore government is reputed for their performance,assertiveness and future orientation (Hasegawa and Noronha 2009, 267). The politicalenvironment stimulates the presence of all large and small companies; due to thepresence of enterprise financing schemes, internalization schemes, tax changes andother forums used to minimize negative consequences on these firms (Ministry ofFinance Budget 2014).Economicenvironment in Singapore according to Ministry of Finance (2014), is growingdue to the external environment and constructive growth. The global outlook eventhough uncertain, Singapore’s food and beverage industry is still growing. According tothe International Enterprise (IE), the local F&B industry has increased its consumerbase, seeking high quality and innovative products. The Timbre Group, targets the highincome group and hence the nominal increase in Singapore’s gross domestic product(GDP), and its low tax and inflation rate reinforces Timbre’s strategy.Socio-cultural environment in Singapore is recognized for its diverse and harmonizingreligion and cultures; currently a home to over 5.4 million residents (Department ofStatistics Singapore 2013). Singapore has been a collective society, influenced by theWestern culture with a high level of power distance (Hasegawa and Noronha 2009,261). Many Singaporeans work hard to fulfill their materialism desire, allowing the nationto increase its productiveness and purchasing power (Kau et al. 2004).Singapore has ahigh literacy rate, which increases talents and intellectuals on demand but decreasesthe labour incentive workers; increasing foreign workers and decreasing cost ofproduction for various industries (Department of Statistics Singapore 2013). Technological environment in Singapore is advanced; including its IT infrastructure,telecommunication infrastructure and including architectural models. The Singaporegovernment’s expenditure on technology, has enhanced its capability and effectivenessto secure its benefits to the local R&D and various industries (A*Star 2009). Thegovernment is supporting enterprises on the usage of Information-CommunicationTechnology (ICT), and assisting them in upgrading their network to run by the moderntrend of technology (Ministry of Finance Budget 2014). The World Economic Forumranked Singapore amongst the top 10 for network readiness, globally. This is due to thecomprehensive infrastructure setup, increasing the dependencies of B2C model on e-3 | P a g e
commerce and the internet; as the Singapore government is operating towards anelectronic government era (Department of Statistics Singapore, 2014). Timbre has takenadvantage by concentrating its promotion on various internet-based social media sitesas Facebook, Instagram and Twitter. SWOT AnalysisStrengthsWeaknessesTimbre is popular and has branded itself in the market with high reputation and recognition.There are limited reservations, causing an increase in ‘crowd’ and interfering with the atmosphere created.It uniquely promotes local music and talents, introducing its corporate social responsibility. Short-staffed and slow service during peak hours.It is renowned for great food, drinks, entertainment and location It is considered overly priced for its target marketThere is a strong customer service cultureIt frequently updates their websites andsocial media sites for promotional purposes at low costsOpportunitiesThreatsThey should concentrate on promoting each brand, individually. They should set up websites and social media for each brand separatelyThe market has various competitors providing similar entertainment at a lower price.They should use the social media creatively, to create a buzz amongst consumers instead of just updating events.The government has increased the alcohol and liquor tax, increasing the costto run Timbre.They should promote interactive events,increasing their core value of establishing local talents.As Timbre is popular and established, the strength can be worked on by improving onweaknesses such as shortage of staff. The popularity can be utilized to build a strongloyal customer base, increasing its revenue in the future. The increase of alcohol tax,poses the highest risk, increasing their cost. Though, this can be eliminated by increasingits customer base and demand for its service.E-Marketing Strategic Planning4 | P a g e
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