Marketing Objectives and Strategies for Brickworks Ltd
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This article discusses the marketing objectives and strategies for Brickworks Ltd, an Australian organization specialized in building products. It covers the identification of objectives and issues, marketing logic to create customer value, STP analysis, and marketing mix strategies.
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Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY..................................................................................................................................1 Identify objectives and issues.....................................................................................................1 Marketing logic to create customer value...................................................................................3 STP..............................................................................................................................................4 Marketing mix.............................................................................................................................5 Action programmes and recommendations.................................................................................7 CONCLUSION................................................................................................................................8 REFERENCES..............................................................................................................................10
INTRODUCTION Marketingdepictstheactivitiesthatarepursuedbyanorganisationintermsof promoting, purchasing and selling of several products and services. In regard of this, marketing factors consider offering significant products, selling and advertising commodities to consumers and other business enterprises. Furthermore, it is also done from the side of an organisation. In terms of this, marketing depicts the activities that are done in terms of effective advertising and also tends to promote selling of products and services to their potential customers. Along with this, these are undertaken as the market orientation that helps in identifying the effective products and services to customers(Xu, Frankwick and Ramirez, 2016). The effective market orientation helps in determining several approaches of planning stage of marketing. In regard of this, marketers should identify the several methods that are helpful for the effective marketing of products and services and for this decisions are developed on the grounds of effective planning for the product life cycle. This concept tends to depicts the significant objectives of an organisation and also tends to evaluate the probable needs and wants of potential consumers for satisfying in an efficient manner. Theprominentconcepttendstoincludesignificantimportantfactorssuchas demands,wants, market research and so on which is important in terms of conducted it aims and objectives for the new product development and tends to identify the requirements of customers. To carry forward this report, Brickworks Ltd is considered which is an innovative group of Australian owned organisation and specialised in investments, manufacturing and distribution of building products for the residential commercial markets.Furthermore, the report is going to cover about the various objectives, issues and other factors that leads to create customer value. Along with this, STP and marketing mix is conducted which is useful in order to prominently launch and introduce product within the market. Lastly, action programmes is created which is useful in identifying budget and control other factors as well. MAIN BODY Identify objectives and issues Construction industry is undertaken as the biggest sector and activity that leads to make prominent movement in terms of offering significant things to various areas(Farris, 2016). In terms of this, it tends to create prominent changes in making buildings as per the new ideas and 1
vision. In terms of developing effective marketing objectives for the brickworks Ltd, they need to review the significant options concerning their strategy. In regard of this, it also tends to represent the effective marketing plan undertaking the effective goals and objectives. Some of the objectives are mentioned as under:Advertise new commodities:By undertaking the significant future plan as it tends to consider the introduction of new products and also consider the effective marketing objectives for the suitable advertisement of new products and services(De Veirman, Cauberghe and Hudders, 2017).Develop digital presence:It describes that the respective company does not have its own digital presence in regard of conducting significant market research in terms of growing significant visibility for effective search engine and social media platform.Lead generation:It refers to the company in terms of focusing towards leading the generation with their prominent strategies and plans that tends to develop it with the help of email or can take prominent help from customer relationship management.Target new customers:It refers to the before launching new product within the market and an organisation need to specify their target market which is helpful regarding the specific expansion of business and also helps in reaching out towards the new customers and audiences(Luchs, Swan and Creusen, 2016).Retain existing customers:Rather than focusing on new customers and their arrivals, respective organisation need to put emphasis on the keeping and retaining their customers for the longer period of time.Developbrandawareness:Inregardofthis,Brickworksneedtodevelopbrand awareness in market area and also tends to undertake the audience as well that is helpful in order to encourage and put emphasis on expanding the reach in order to target their customers and engage large number of people to know about their brand as it tends to develop effective reputation in business environment.(Handayani, 2017)Enhance profit:It is the primary objective concerning the sales and revenues as it tends to enhance significant profitability in order to sell their products. This objective tends to reduce significant expenses and also offer maximum commodities undertaking the high profit margin and execute prominent changes in terms of gaining effective profitability. 2
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Grow market share:Instead of moving and developing into new areas regarding the specific expansion for the effective expansion in the market area. For this, it is useful for the company to make it available within the customers and also undertake the geographic area as well. Marketing logic to create customer value In regard of this, there are several factors that tends to develop effective value for their customers as it is helpful in terms of offering prominent logic and create value for the particular product and services to customers(Camilleri, 2018). Furthermore, employees and their ability depicts to the essential components in terms of maintaining competitive advantage in market and business environment and also contribute prominent premium factors. Few factors are mentioned as under:Technology:It is undertaken as the significant element which tends to develop effective competitive advantage undertaking the prominent growth of company. In regard of Brickworks Ltd, they should consider this factor as their technology which is more effective and also important as it is helpful in offering effective competitive advantage and helpful in smooth running and functioning of an organisation. In terms of this, prominent technology is also useful for the company in terms of organising effective market research that is helpful for prominent market research regarding executing significant changes for better growth and development for the market area of Brickworks Ltd. Along with this, organisation need to make effective sources and office software in terms of managing prominent strategies and other concerning equipments for effective growth and rapid construction which is safe and cheap(Iannuzzi, 2017). Along with this, organisation should consider environment friendly construction tools which are helpful in developing effective image in market and helps in achieving competitive advantage.Marketing strategy:It describes the market area of respective company and also tends to consider effective construction of company for better growth and offer their products for well funded market as it is more significant and tends to develop effective value and better valuation of prospects. In regard of this, unfocused company tends to develop better and prominent strategies and do average valuation considering the revenue and market strategy(Fillis, Lehman and Wickham, 2016). It also tends to acquire whole company concerning the synergies and undertake prominent strategies in terms of 3
overcoming from the threats and other irrelevant elements. Therefore, it is effective for Brickworks Ltd as it is helpful for company for effectively launch of new product in market and also useful in effective factors for development and growth of company.Quality of management team:Significant organisation have prominent management team in which they tends to achieve top leaders and also tends to pay effective attention regarding the quality for the depth of middle management(Farris and et. al., 2017). For this, top level managers tends to appear and remain in market after the merger for the enhancement of company. Along with this, the quality management team of company is helpful for offering qualitative products and tends to improve current offerings. In terms of Brickworks Ltd they tends to define and take prominent advantage for their initiative for effectively developing the quality and their managerial team which is helpful to enhance the value of company and overall image for development. Financials:In terms of considering the proper valuation of existing financials of company growth rate for the project is more important in order to identify and analyse the potentials of market and also get proper support from their evidences. In regard of this, specialists also tends to pay significant attention undertaking the variety of elements and profitability of company and growth rate(Galli and Kaviani, 2017). The physical assets of Brickworks Ltd also have their value as they does not have to contribute towards the efforts of premium valuation of company. For this, the respective organisation should consider the financial standards that are helpful in terms of creating value for their offerings to potential customers. STP By considering the prominent forces and target market for the company is it also analysed that organisation should specify its market area regarding effective launch of product that is helpful for the overall performance of Brickworks Ltd. In regard of this, it also tends to consider the significant area of enhancement for the Australian people for improving their customer base and develop prominent opportunities for respective company. Through this, company is capable enough to operate successfully in the market for stipulated period of time.Segmentation:This factor refers to the effective market area in terms of providing prominent product considering the construction of buildings and homes. In regard of Brickworks they focus on getting big contracts that are profitable for them and also 4
develop buildings and site in order to target every individual as it is useful in offering goof quality services to their potentialcustomers(Badi, Wang and Pryke, 2017). Furthermore, people also move from one to another city for offering products to their audiencesacrosstheworld.Furthermore,respectivecompanytendstoconsider demographic factor like earning and target group of between 23-45 and also consider online promotion.Targeting:The construction industry tends to accomplish growth by effective annual rate which is around 6-8% and its around 80% of the market is unorganized undertaking the huge number of local players. In regard of this, branded organisation consider the retail segment which is responsible for 15% of market and 0.5% in order to capture through onlineretailersintermsofachievinggrowthandsuccessforBrickworksLtd. Furthermore, construction industry is very big and also tends to provide significant opportunity as there is no other player who is valued more than around $100 million. Positioning:In regard of this, it is identified that organisation tends to offer significant solution for the effective construction and development. In regard of this, organisation need to strengthen their portfolio in terms of being more graduate from the online platform regarding promotion and advertisement as it helps in providing effective position to respective company(Zhao and et. al., 2017). For this, company also believe in the organic growth which is more effective undertaking the social media marketing and word of mouth for Brickworks Ltd for effective market position. Marketing mix Brickworks Ltd should offer prominent and effective level of value proposition to customers considering various strategies for the designing of specific product of company. Furthermore, for the effective marketing of commodities which company need to identify the preferences and wants for their potential customers for effectively accomplishing long terms goals(Junge, Severgnini and Sørensen, 2016). In regard of this, marketing mix is undertaken as the value drivenfactor for an organisation that leads to increase the range of diversity for the furniture products and services that are developed for describing the ability to prominently offer value to retail customers. In terms of this, prominent marketing strategies are mentioned below:Product:Brickworks Ltd need to understand the needs of customers and also tends to target their customers in regard of identifying the potentials of particular area and also 5
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consider several options. In regard of this, Brickworks Ltd offer effective products and services that are useful for them in terms of acquiring the prominent market area and offer well developed and furnished buildings with effective quality(Eastman, Smalley and Warren, 2019). Therefore, respective organisation leads to offer variety of products which is added in the product line for particular area.Price:Considering the price factor of company it is analysed that Brickworks Ltd is in the monopolistic business that tends to embrace the methodologies for company in regard of cutting the cost and offer effective products. As per this, factor, respective company leads to use standard prices for their product that is helpful in treating their customers on equal basis(Pan and Lee, 2017). Along with this, company is more consistent in terms of taking care and analysing the administration and other concerning flawless services in terms of offering effective products at cheap prices.Place:Brickworks Ltd tends to offer its products in Australia which is more effective as itusefulinordertoaccomplishsuccessandundertakingtheprofitabilityofan organisation. Furthermore, respective company also offer its services considering the elements that are helpful for company(Xu, Frankwick and Ramirez, 2016). Furthermore, in terms of physical appearance of Brickworks Ltd tends to give its franchise to other people for providing its products and services in Australia and due to this, they also need to expand their business which is effective in order to achieve effective image for company.Promotion:By considering the promotional factors of an organisation it is identified that Brickworks Ltd use significant promotional methods that are quite effective to prominent promoting their products and services. Furthermore, due to the effective quality of offerings of products and services undertaken as the trade promotions(Farris, 2016). In regard of this, organisation also tends to opt price discounts, festival promotions and other marketing trends in terms of advertising their product considering the prominent advantages and deals that are offered by large scale company. Therefore, in regard of Brickworks they use social media in terms of offering their products and services.Process:It represent the significant process that is opted by company undertaking the efficiency and prominent business process in order to deliver effective service and also consider effective production and communication factor as it is the prominent key to 6
make things available for the system. Furthermore, it also tends to allow Brickworks Ltd for effectively measuring their import and information that should be significantly available for the development of company. Despite from this, company tends to use effectivemethodsthatareusefulinofferingsignificantproductsandservicesto customers.People:It the staff members of an organisation that are undertaken as the lifeblood and consider the behaviour and personality that tends to attract large number of people as it is useful for the Brickworks Ltd. In regard of this, it also tends to motivate other team members that are useful in getting work done in an effective manner considering the proper execution of significant responsibilities(De Veirman, Cauberghe and Hudders, 2017). Furthermore, brickworks Ltd also tends to develop significant customer service consideringthesalesorientationapproachofanorganisationbetweentheirstaff members. Physical evidence:By undertaking the assets of an organisation it tends to consider the products buildings undertaking the prominent use of market for their business and their brand as well that leads to influence the physical appearance regarding adopting the furniture and fitting and other concerning tools. Along with this, organisation need to ensure to make their store look more attractive and tends to attract large number of customers(Luchs, Swan and Creusen, 2016). Along with this, the Brickworks Ltd should make sure that their intellectual property rights which is more prominently used and tends to protect their ownership, designs, inventions and so on. Therefore, it is significantly essential to accomplish success and value for company considering the growth and success. Action programmes and recommendations Budget:The effective budget of Brickworks Ltd is evaluated underneath that tends to give effective estimate in terms of developing their products and services. In regard of this, an organisation tends to focus on the effective strategies of an organisation and other competitors that are helpfulin maintainingand developingprominent job position in front of other competitors that is helpful in maintaining and developing effective job post in potential market area and it is also useful in improving the quality instead of lowering the cost(Handayani, 2017). 7
Marketing budget Particulars1st year2nd year3rd year4th year5th year Initial money3700900024000900010000 Investment40007000170001400015000 Total770017000410002300025000 Marketing outlay Promotion70009000600070006000 sales publicity80004000600090001000 Direct selling600017000900030007000 Total2100030000210001900014000 Controlling:Market controlling is helpful for company which is useful in regard of approaching significant objectives and goals that tends to take effective action in order to get effective deviation which is useful in order to take better and prominent decision making for the development of Brickworks Ltd. Hence, from the preceding discussion, it is identified and suggested that effective and prominent marketing method is helpful undertaking the efficiency and growth of company. For this, effective marketing strategy has significant impact on prominently running and functioning of company that leads to improve the profit and sales of respective company. Hence, the 8
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significant marketing strategies are developed through marketing manager and it is performed at the time of organising market analysis. These plans and strategies are performed by the staff members of marketing team that are more effective considering the budget. CONCLUSION From the above discussion, it is identified that marketing is significant in terms of attaining growth and profitability for its products and services which is useful for the further and effective expansion of company. In regard of this, several strategies are opted that are helpful in terms of launching a new product in market. Furthermore, prominent objectives and various issues are identified that are helpful for the company and other factors in terms of explaining and developing effective customer value. Therefore, target market is also specified in terms of prominently introducing products in market and make their position effective regarding the marketing mix strategies considering several factors with it. At last, action programmes are considered in which prominent budget and cost is analysed. 9
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