Interpret Market Trends and Development

Running head: INTERPRET MARKET TRENDS AND DEVELOPMENT
INTERPRET MARKET TRENDS AND DEVELOPMENT
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1INTERPRET MARKET TRENDS AND DEVELOPMENT
Introduction
This report is centered around the business BBQfun in Australia and its marketing strategies
involved. The business mainly focuses on the Brisbane area where healthy outdoor lifestyle is
promoted along with products that are unique and tasty. The aim of this report is to determine to
factors that is involved in the marketing strategy and the performance of the products.
Marketing Strategy
The business makes the best out of its market data from different sources, this would
include ABS statistical data that would help in understanding the potential customers involved.
The business reached its peak in the year of 2010 when the sales reached 10$ million. The
market had its share of competitive retail environment that would allow technological changes
and other changes on the buying pattern of the consumers. The basic market need is for quality,
fashionable and different lifestyle that is centered outdoors (Australia & Beard, 2015). The
business made accessibility that the customer needs to access to the store, even the customers
need help from experts when it comes to choices. This is why the store has experienced staffs
who are fully knowledgeable about the products. The business also maintains its price with its
quality. It is because of that the service is not cheap.
Business Analysis
The business has added new products that are sourced from the supplier under a regular
basis. The plan is to rest the products that are to be engaged with the taste of the consumers. To
create a market research firm (Ebbs, 2013). The objective is to get feedback from these firms
when the changes are determined depending on the availability of the products. In the initial
stages of the marketing plan, several groups are held to gain insight a variety of lifestyle stores.