BSBMGT616 - Develop and implement strategic plans

Running head: MARKETING PLANNING
Marketing Planning
Name of the Student:
Name of the University:
Authors Note:

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MARKETING PLANNING
Contents
Introduction:....................................................................................................................................2
Marketing planning for Houzit:.......................................................................................................2
Conclusion:......................................................................................................................................6
References:......................................................................................................................................7

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MARKETING PLANNING
Introduction:
A business organization is generally established with the objective of earning profit from
business operations to maximize its profit and wealth of its owners. In order to achieve the
strategy of a business organization it is important to manage the resources of the organization
effectively to make optimum use of these resources. Strategic planning helps an organization to
achieve this objectives by considering financial as well non-financial aspects of a business
organization to take important decisions including management, financial management, market
and other aspects of the business.
Marketing planning for Houzit:
Houzit, an organization established in Brisbane, Australia operates a chain of home wares in
Brisbane. Having 15 stores in all across Brisbane the organization has the objective to expand its
operations to all the major cities of Australia by 2020 with 100 stores in all capital cities of the
country. In order to achieve this objective the marketing strategy of the company will play a
crucial role. In this section of the document an effective marketing strategy shall be developed
for the company by taking into consideration the important elements of business of the
organization (Cassidy, 2016).
Marketer and famous academic E. Jerome McCarthy originally proposed the 4 ps of marketing
mix which has helped business organizations to develop effective marketing strategies for their
products and services over the years. However, with passage of time 4ps have transformed into
7ps of marketing mix to include new and additional requirements with ever changing business
environment and requirements of customers.

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MARKETING PLANNING
To develop an effective marketing strategy for Houzit to achieve its objectives of expanding its
market base to different parts of Australia and increase it loyal customer base from 10,000 to
20,000 within next three years an effective market strategy shall be developed keeping in mind
the 7ps of market mix.
The above image shows 7ps of marketing mix which are essential to the development of an
effective marketing strategy of for Houzit. A detailed marketing strategy for the organization is
formulated below keeping in mind the 7ps of marketing applicable to the organization.
Product:
Houzit has a clear strategy of providing high quality home wares to its customers. The present
combination of sales of its products is as following:
Products % of total product sales
Bathroom fittings products 30% of total product sales

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MARKETING PLANNING
Bedroom furnishing products 35% of total product sales
Mirrors and decorative items and products of
home wares
20% of total product sales
Lighting and fixture items and products 15% of total product sales
The organization should continue to manufacture and sell the above products by ensuring that the
quality of the products are not compromised with increase in operational size and scope. With
the expected increase of business operations to 100 cities the quality of products will be also
maintained to increase the loyal customer base of the organization.
Product differentiation shall be continued as the Houzit stores are known for their unique
products. The ability of the organization to provide unique products in the market would be
helpful in increasing its revenue from sales in the future (Hamzah and Sutanto, 2016).
Price:
As already mentioned that the organization operates in Brisbane where there is significant
competition in the market place. However with product differentiation and quality of products
Houzit has the ability to price its products by imposing significant profit margin on cost. The
company should use penetration pricing strategy to penetrate the market. Pricing the products of
the company at low prices will help the company to increase its sales significantly in the future.
Place:

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MARKETING PLANNING
The stores are generally located in commercial and suburban urban districts in Brisbane. Thus,
the stores are located in customer oriented places where selling products by attracting the
attention of the customer would not be very difficult.
People:
One of the strengths of the company is its employees. Along with its qualified staffs and
employees the loyal customer base of 10,000 customers shall be used effectively to increase the
sales of the company significantly in years to come (Datta, Ailawadi and van Heerde, 2017).
Promotion:
Aggressive marketing and promotional strategy shall be helpful in attracting the attention of new
customers to the products of the company. Use of bill boards in railway stations and roads shall
be effective way to promote the products of the company without spending huge amount of
promotional and advertisement campaigns.
Process:
Investment shall be made to generate scholar energy to conserve the environment and with the
government regulations restricting large electricity consumers Houzit must take necessary steps
immediately to make provision for its electricity requirements in the future. Providing the
customers with appropriate quality of products also dependant on the ability of the company to
effectively use its huge electricity consumption. Thus, necessary changes to the processes within
the stores of the company shall be made to ensure that the electricity requirements in the future
are met without violating the Government rules and regulations.
Physical environment:

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MARKETING PLANNING
Process and physical environment are equally important for the company to achieve its
organizational objectives thus, the stores of the company must have staffs and employees who
shall take care of the customers to increase the loyal customer base of the company. The physical
environment should be conducive to the operations of the business. Providing regular training to
the employees and staffs of the company shall be helpful in achieving both these objectives
(Wolf and Floyd, 2017).
Conclusion:
An effective marketing planning would help the Houzit to achieve its objectives of
expanding its business operations by attracting new customers from different markets from all
across the country. In this document the importance of 7ps in the marketing strategy of Houzit
was explained for the benefit of the readers. It is expected that the management of the
organization will keep in mind these 7 elements of marketing to formulate an effective marketing
strategy for the organization.

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References:
Cassidy, A., 2016. A practical guide to information systems strategic planning. Auerbach
Publications.
Hamzah, S.B. and Sutanto, J.E., 2016. The Role of Marketing Mix (7P) for Consumer Buying
Decision Pastry Cake in Malang City.
Datta, H., Ailawadi, K.L. and van Heerde, H.J., 2017. How well does consumer-based brand
equity align with sales-based brand equity and marketing-mix response?. Journal of
Marketing, 81(3), pp.1-20.
Wolf, C. and Floyd, S.W., 2017. Strategic planning research: Toward a theory-driven
agenda. Journal of Management, 43(6), pp.1754-1788.