Billabong's Marketing Strategies: A Business Report

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HI5004 Marketing Management
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Introduction
This business report is first task of the marketing management assessment which
includes the description of marketing related functions such as products and services
description, information related with competition, forecasting of products and services
demand in reference of a business organization, Billabong along with the description of
its market segmentation, product positioning and targeting customer and market for
enhancing organization market management. This business report generally aim to
efficiently describe steps that business organization are required to follow for effectively
manage marketing functions. This report also supported with presentation which briefly
describes the process engage and involved with business marketing management.
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Report
The business organization, Billabong is usually known as a surf company and the
products offered by Billabong includes swimsuits, clothing, accessories, eyewear,
surfboards, skateboards and wetsuits aside from these Billabong offers about 2000
products to the customer. Moreover, the company also develops new products for
enhancing its position in competitive market and the new products that are introduced
by Billabong in competitive market of Australia are watch, hat eyewear and other
accessories in reference with board sports market (Alden, et. al., 2017).
Competitive Information
Billabong also faces certain competition during marketing process of its products in surf
and sports market of Australia as well as in international market. The major competitors
of Billabong are Volcom, Hurley and World Surf and these companies compete with
Billabong on the basis of quality, design and prices. Due to emergence of competition in
surf market of Australia, Billabong faced certain drawbacks in revenue generation as fall
in stock exchange, reduces the company’s product sell in market and impacts the
popularity of Billabong in the market. Moreover, products of Billabong are often high
than competitors products in market which further favors competitors and it further
reduces the sales of Billabong products and reduce sales revenue. This competition
prevailed in Australia surf market made Billabong to develop new pricing strategy along
with innovative ideas in products and improves its product quality (Wirtz, et. al., 2017).
Environmental Scanning
Billabong through managing market undertake the consideration of environmental
scanning process for gathering relevant information about events and internal and
external environment factors associated with Billabong. Environmental scanning also
helps Billabong to manage and determine future direction for effectively managing
market of Billabong. Under environment scanning, Billabong evaluates environmental
standards and renewable sectors to include with marketing concepts of company.
Moreover, in contrast with environmental scanning Billabong engage itself with service
projects which are further associated with social and environment responsibility and
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also supports programs to reduce carbon footprints, encourage sustainable products
and to utilize significant recycling methods (Shao, et. al., 2015).
Demand Forecasted
Billabong efficiently focus on demand forecasting for efficiently managing its products
marketing in surf industry of Australia as demand forecasting enables Billabong to
predict the future demand its existing and new products in the competitive market for
further determining its manufacturing and delivery process in business operation and
management of marketing function. For efficiently carrying out the process of demand
forecasting, Billabong adopted JustEnough software as it appropriate and most suitable
for the company for planning and maintaining its product marketing across e-commerce,
retail and wholesale channels. Moreover, JustEnough in the demand forecasting
process enables Billabong to develop flexible solution and also improve customer
service, increase inventory, visibility, enhance productivity and also drives planning
process.
Market Segmentation
For efficiently managing marketing process, Billabong develop its market segmentation
which enables the company to divide and segment its customers on the basis of certain
concepts such as understanding customer behavior, age factors of customer, income,
gender, lifestyle, values and other components that describes customer attitude and
preference towards company and its product in competitive market. Moreover, Billabong
develop its market segmentation through dividing market in to homogenous group by
exploring factors such as demographic, behavioral and psychographic of customers
(Barton, 2015).
Targeting and Positioning Statement
Along with market segmentation Billabong also consider its targeting and positioning
statement as it plays an important role in management of marketing and for developing
a targeting and positioning statement Billabong firstly choose appropriate target
segment for further meeting their needs and expectation in correspondence with
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company’s resources and capabilities. Billabong usually depends on its market segment
for setting its target market as its enables Billabong to identify its resources, growth
objectives and capabilities required for setting target and further developing targeting
statement. Under targeting statement Billabong consider its growth potential and
commercial attractiveness trough following steps such as identifying market segment,
seek market size, customer different preferences, additional marketing costs and predict
profit in market as they enables Billabong to target appropriate market along with
significant targeting statement (Woods, et. al., 2018).
Further, Billabong undertakes the consideration of targeting statement for setting and
developing clear positioning statement which could efficiently develop a positive image
of Billabong along with its products in market and among customers. Positioning
statement is developed for the management of marketing process of Billabong as the
statement reflects marketing and positioning strategy of Billabong. Moreover, Billabong
also consider certain other concepts for developing Billabong positioning statement
such as brand efficiency, need of target market, company’s uniqueness and brand
delivery process. Billabong through positioning statement also enables to analyze its
product position in market along with competitor products position in competitive
market. The positioning statement also enables Billabong to efficiently conduct
customer survey, focus groups of Billabong and competitor’s survey for developing its
market and to efficiently manage its marketing process (Kruger, et. al., 2017).
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Conclusion
This business report generally aims to explain the concept of marketing management in
reference with business organization such as Billabong and this report includes the
demonstration of the steps and process that are considered by business organization
for efficiently conducting the process of marketing management in competitive market.
This assessment includes the description of Billabong existing and new products and
services in Australia surf market along with the discussion of competitive information
relevant with Billabong marketing operation. A brief description of environmental
scanning in contrast with Billabong is also included in the assessment along with
product demand forecasting, market segmentation process and the process Billabong
consider for developing its targeting and positioning statement.
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Reference:
Alden, D.L. and Nariswari, A., 2017. Brand Positioning Strategies During Global
Expansion: Managerial Perspectives from Emerging Market Firms. In The
Customer is NOT Always Right? Marketing Orientationsin a Dynamic Business
World(pp. 527-530). Springer, Cham.
Barton, L., 2015. Active Positioning: The Importance of Relevancy. Journal of
Marketing Perspectives Volume I, p.48.
Kruger, M. and Saayman, M., 2017. Sand, sea and surf: segmenting South
African surfers. South African journal for research in sport, physical education
and recreation, 39(2), pp.115-135.
Shao, A.T. and Bao, Y., 2015. Unique positioning to an elusive market:
Targeting teenagers. In New Meanings for Marketing in a New Millennium (pp.
111-117). Springer, Cham.
Wirtz, J. and Lovelock, C., 2017. Positioning Services in Competitive Markets.
World Scientific.
Woods, B., Byrne, A. and Bodger, O., 2018. Command Black Backpack Heather
Slate Skate Billabong Friday Dark YPrwYqT & implication. dssdesign.
com. Command Black Backpack Heather Slate Skate Billabong Friday Dark
YPrwYqT & implication. dssdesign. com, 18(1), p.76.
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