Marketing Management: Strategies and Concepts of JB-Hi-Fi Limited

Running head: MARKETING MANAGEMENT
December 30
2018

MARKETING MANAGEMENT 1
Executive Summary
Marketing is the most important aspect of every business. Marketing not just help in increase
brand awareness but it also supports in increasing sales of the business and engages
customers. On a ground level, marketing support in educating customer regarding the
services and products of the company. As per the investigators, marketing is the only
operative way that can communicate the value proposition of the business to the customers.
In the 21st century, marketing has become less expensive because social media platform is
supporting businesses to communicate their marketing message to the customers. The aim of
this paper is to increase the understanding regarding the different marketing management
concepts used by the business in order to target customers and increase market share. The
report has highlighted different aspects of JB-Hi-Fi Limited's marketing strategies such as an
advertisement, segmentation, and targeting, positioning, and marketing mix. From the
analysis, it has been identified that the company is effectively planning its strategies to give
strong competition to its present rivals and attract more and more customers through new
product development.

MARKETING MANAGEMENT 2
Table of Contents
Executive Summary...................................................................................................................1
Introduction................................................................................................................................3
Overview of JB-HI-FI............................................................................................................3
Industry Market of JB-Hi-Fi..................................................................................................4
Porter 5 Force Framework.................................................................................................4
Growth and Profitability in the Australian retail industry.................................................5
PESTLE Analysis of JB-Hi-Fi Limited.............................................................................5
Competitor Analysis...............................................................................................................7
Marketing Mix of JB-Hi-Fi Limited......................................................................................9
Product...............................................................................................................................9
Price....................................................................................................................................9
Place...................................................................................................................................9
Promotion.........................................................................................................................10
Market Segment Strategy.....................................................................................................10
Demographic segmentation..............................................................................................10
Behavioral Segmentation.................................................................................................11
Geographic Segmentation................................................................................................11
Target Market.......................................................................................................................11
Positioning Map of JB-Hi-Fi Limited..................................................................................13
Conclusion................................................................................................................................14
References................................................................................................................................15

MARKETING MANAGEMENT 3
Introduction
Marketing management is the procedure of emerging approaches and planning for services or
products, promotions, sales, advertising to reach a preferred segment of customer. The heart
of every organization success lies in its strategies of marketing (Iacobucci, 2016). Marketing
management shortened the functions and activities, which are included in the services and
goods distribution. As per Philip Kotler, “Marketing management is the study, development,
execution, and regulation of the programs created to bring anticipated relations with the target
audience for the aim of attaining objectives of the organization.” Similarly, marketing
management is the procedure through which a service or product is introduced and advertised
to the potential target market (Zimmerman & Blythe, 2013). The intent of this report is to
consider the market of JB-HI-FI Company and evaluate its present market opportunities and
threats that have a major influence on its operations. The report will be comprised of a
detailed analysis of the industry of which JB-HI-FI is a part along with its external
environment analysis. It will also discuss the level of competition present within the industry.
Besides this, it will discuss the market segment of the business in order to recognize its
primary and secondary target markets.
Overview of JB-HI-FI
JB-Hi-Fi is one of the known consumer goods retailers of the Australian market. The
company majorly deals in Ultra HD Blu-rays, CDs, video games, DVDs, Blu-rays, mobile
phones, Telstra services, electrical home appliances, and electronics/hardware. The head
office of the company is in Melbourne and in 2007; it introduced its operations in New
Zealand. Mr. John Barbuto founded JB-H-Fi in 1974. However, in 1983, the business was
sold and in 1999 another nine stores were introduced in the market (JB-Hi-Fi, 2018a).