MKTG6002 Marketing Plan: Bounty Bags - Strategies for Market Success

Verified

Added on  2022/09/16

|19
|4418
|26
Report
AI Summary
This report provides a comprehensive marketing plan for Bounty Bags, a parenting club in Australia. It begins with an executive summary and table of contents, followed by an overview of Bounty, analyzing its current market situation, including a SWOT analysis, market segmentation (demographic, psychographic, and behavioral), and target segments (pregnant women and new mothers). The report details the company's positioning and value proposition, sets SMART objectives, and outlines a marketing strategy based on the 4Ps (product, price, place, and promotion). It explores product aspects, pricing strategies, distribution, and promotional activities, including the impact of competitors like Emma's Diary. The report also covers implementation planning, control mechanisms, and concludes with recommendations for Bounty Bags' future marketing efforts. The report is based on a student assignment and follows the guidelines of the MKTG6002 Marketing Assessment brief, aiming to develop insightful marketing strategies for the business.
Document Page
Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author note
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
1MANAGEMENT
Executive Summary
In the current scenario, there are different competitors available in the market for the various
products and services which are being sold in the market. In the respective case, Bounty Bags
have different competitors such as Emma’s Diary which are playing a tough role in making
Bounty Bags ineffective. As such, the marketing mixes as well as the SWOT analysis have been
conducted for understanding the progress of the organization in comparison to the others. From
the analysis of the 4Ps, it is seen that respective organization is playing a vital role, however,
there should be inclusion of proper website implementation that will be capable of improving
their position.
Document Page
2MANAGEMENT
Table of Contents
Overview of Bounty........................................................................................................................3
Analysis of Current Situation of Market.........................................................................................4
SWOT Summary.........................................................................................................................4
Analysis of Market......................................................................................................................5
Profiles and Segment...................................................................................................................5
Target Segments..........................................................................................................................6
Positioning along with Value Proposition...................................................................................6
SMART Objectives for the Segments.........................................................................................8
Marketing Related Strategy.............................................................................................................8
Product Aspects...........................................................................................................................9
Price Aspects...............................................................................................................................9
Place Aspects.............................................................................................................................10
Promotional Aspects..................................................................................................................11
Implementation..............................................................................................................................12
Implementation Related Planning..............................................................................................12
Mechanisms for Control............................................................................................................12
Conclusions and Recommendations..............................................................................................13
References......................................................................................................................................15
Document Page
3MANAGEMENT
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
4MANAGEMENT
Overview of Bounty
Bounty is one of the parenting club or society which is present in Australian economy
wherein it helps in providing different kinds of advices to the pregnant women and the
individuals who have become mothers in the recent years. For more than 35 years, the company
has been capable of serving the new parents and pregnant women who are trying to raise their
child in the respective world. Bounty has become Australia’s favorite along with most trusted
parenting related community and they have been constantly supporting parents and parents to be
which is effective for them in improving the performance of the services successfully
(Bountyparents.com.au, 2020).
The different customers who are parents to be or post becoming mothers, they are highly
attracted towards the Bounty Bags wherein they are hoping highly on the immense kind of
support which will be gained from Bounty. The company tries to distribute the bounty bags to
the different expecting mothers and those who have become mothers and their baby is 48 hours
old through different representatives as well as midwives in different hospitals in the entire
nation. Through the customized emails, the company tries to provide the parents with different
kinds of rewards and fantastic products for great parenting and lifestyle.
There are different products which are being distributed to the different patients who are
women which are mainly attached with World Health Organization and guidelines which are
being followed are of SIDs and support provided for breastfeeding for the new mothers. The
Bounty Bags are planning to produce an entirely new website which will be helping them in
improving their progress and efficiency in a proper manner to manage the growth prospects of
Document Page
5MANAGEMENT
the company. The products which are being provided are of different freebie related packages
which will be appropriate for the different stages (Bountyparents.com.au, 2020).
Analysis of Current Situation of Market
SWOT Summary
Strengths
The different kinds of products and freebies of
Bounty Bags are given to the mothers at free of
cost in different parts of the world (Yildiz & Kara,
2017)
The brand name and performance of the company
is top class which makes them highly beneficial in
attracting large number of women who are
preparing to be mothers or the ones who have just
newly became mothers
Weaknesses
There is high level of competition available in
market of Australia and they are struggling to a
large extent for surviving in the market
The company has been lacking in the overall
delivery of the different health-care related
products due to which it has impacted the
effectiveness of the company in the competitive
environment (Wang, 2018)
Opportunities
The promotion of the different new products are
needs to be provided to the patients at free of cost
that is appropriate in generating strong brand image
Reaching to the different middle-class customers
and satisfying them increasing their customer base
which will be appropriate for improving their
performance (Waheed et al., 2017)
Threats
Procedures along with competition are the two
major threats which will be impacting the
company’s performance negatively (Tadajewski &
Jones, 2016)
Document Page
6MANAGEMENT
Analysis of Market
Bounty Bags Company is operating in the parenting society which is based in Australia
and they are capable of offering the mothers with different kinds of products and services The
company is trying to expand their business website through incorporating the relevant kind of
data along with other essential kind of information regarding the package which will be efficient
for the parents to understand the different services which are delivered. There are different
freebie along with skin care products for the customers that are being liked by the customers and
they are able to perform in the parenting society in a positive manner (Tadajewski, 2018).
Profiles and Segment
In case of Bounty Bags, the major segmentation is being done by them with the help of
the following prospects such as:
Demographic Segmentation- In demographic segmentation, different kinds of pregnant
women and the women who have newly became parents are the ones who are being mainly
targeted for understanding and analyzing the different facts and figures which are needed to be
known by them in an efficient manner (Sminia, 2017).
Psychographic Segmentation- As for psychographic segmentation, the different parents
from various income families who have the capability to understand the different requirements
which are needed to be properly taken care while becoming mothers or how to take care of their
children in a suitable manner (Skripnik, 2017).
Behavioral Segmentation- For behavioral group, there are freebies available for the
different kinds of women such as the ones who are going to become mothers and on the other
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
7MANAGEMENT
hand, there will be the ones who have newly become mothers and they need to know the
different techniques for growing up their children in a successful approach.
Target Segments
In case of the target customers, the major target customers are the women who are
preparing and are excited to become mothers and on the other hand, the other lot of women who
have newly become mothers. For the different target customers, there are various freebie that are
implemented by the Bounty Bags Company which will be appropriate for the different ones.
Bounty Bags have been able to provide the trustworthy products and services and they have been
rated as number one in Australian economy due to which it has been suitable for them in
targeting different women (Sekerin et al., 2018).
The ones who have already become mothers have shared the positive feedback regarding
the Bounty bags and their services and it improved and enhanced the trust factor among them in
a suitable manner which enhanced their performance in the market against other companies such
as Emma’s Diary and others as well. The number of rewards and offers which are offered by the
Bounty Bags Company are able to be approaching different customers thoroughly and the
company has been able to gain strong brand name within a short span of time as well (Rudawska,
2018).
Positioning along with Value Proposition
The Bounty Bags Company have been successful in positioning themselves as one of the
company which provides high quality services to their customers at minimal pricing strategies
which are being adopted by them. Bounty Bags have been capable and became highly
Document Page
8MANAGEMENT
appropriate in offering health and skin care related products for the mothers or would be mothers
as to retain their clients as there are various level of competitions present in the market wherein
such companies can be retaining the clients and taking over the clients of Bounty bags that will
be creating negative influence on their brand in the future (Petrova et al., 2019).
Figure 1: Positioning Map of Bounty Bags
(Source: Created by author)
With the help of the map, it can be made clear that the company has been highly effective
in providing customers such as the women who are pregnant or the ones who have become
mothers recently with the different services and freebie at the low price and the quality is high.
However, it is shown that the Emma’s Diary is the major competitor which is impacting their
performance through introducing various health-care products and skin-care products and
Document Page
9MANAGEMENT
detailed analysis and calendar for the due date of pregnancy which can be threatening for Bounty
Bags Company and they need to be keeping a track on their role (Peng, 2019).
The value proposition of the company Bounty Bags include the different kinds of security
and safety provided to the different mothers who are conceiving and the ones who have just
become mothers. The safety and security are the two crucial aspects that are being handled in the
cautious manner by Bounty Bags and they never ever failed to improve the different services
which are being offered to the customers in contrast to Emma’s Diary and other competitor
organizations present in the entire world as well. the safety and precaution are key elements
which are being handled by them efficiently (Patsiaouras, 2019).
SMART Objectives for the Segments
To provide the customers with the different health care and skin care products which will
be helpful for them in influencing positively their brand image and maintain their value
To understand the position and strategies of competitors and implement the detailed due
date calendar for the women who are expecting to become mothers which will be
appropriate service for growth (McDonald & Wilson, 2016)
Marketing Related Strategy
In Bounty Bags case, the main aspect related to marketing mix is to determine the unique
selling proposition of the company and their products and services which are being sold by them.
The tools are basically utilized for marketing their different products in helping the marketer in
distinguishing from their competitor companies in the wider kind of marketplace. Through the
marketing mix (4Ps), the different approaches of the products, price, place along with
promotional aspects are being talked about which will be suitable for marketing the products and
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
10MANAGEMENT
gain high level of efficiency and competitiveness during the short time span in the entire
worldwide as well (Kehinde et al., 2016).
Product Aspects
In terms of the products and services which are being offered by Bounty Bags include the
different freebies which are offered to the ones who are would be mothers or the ones who have
become mothers and their babies are 48 hours old. The freebies are different from one another as
the pregnant women would be requiring different services in comparison to the ones who are
mothers already. There are charts and other services wherein it will be providing the detailed
information on growing up their children successfully and in different phases (Jones et al., 2018).
The packages which are offered by them are quite handy and there are various samples
which are being offered to the customers with essential kinds of notes on pregnancy. Hygiene as
well as safety are the two main approaches which are being handled by Bounty bags and there
are disposable nappies made available to the new mothers and other breast pumps are being
made available at low cost for their customers at a low price as their main aim is to provide
customers with the different products at free of cost and make them satisfied and happy (Hunt &
Madhavaram, 2019).
Price Aspects
The pricing strategies that are adopted by Bounty bags for offering the different services
to customers are quite low and there are various samples which are being made available to the
women who are expecting and the ones who have recently become mothers. The safety and
security of the customers are the key element of Bounty bags which is maintained by them and
Document Page
11MANAGEMENT
due to the same; they are capable of offering different mothers with health and skin care products
which will be liked by the customers appropriately (Hult & Ketchen, 2017).
For the babies, the company offers nappies and for mothers, they have been offering the
different maternity wears and clothing that will be liked by the customers and it improves their
performance to a large extent. The prices are absolutely minimal as they feel that the products
should be afforded by the different women all over the world and it will be helpful for them in
attracting the strong market share of women in comparison to the other companies such as
Emma’s Diary which is the main and most strongest competitor present in the market of United
Kingdom. In the recent scenario, the best disposable nappies are being afforded by the different
group of customers which is efficient for their business to improve their performance (Homburg,
Jozić & Kuehnl, 2017).
Place Aspects
For Bounty Bags, the place from where they are successful in selling the different
services and products are through their official website and they prefer to sell their services
through midwives and representatives who have the perfect knowledge regarding the items
which are being sold. In the future, the company is planning to open a brand new website which
will be helping them in showcasing the new products such as skin and health care products for
the customers at low and affordable prices which will be interesting for the parents to try out the
new products and be happy after and while their pregnancy period (Fuciu & Dumitrescu, 2018).
Bounty bags is effective in utilizing the combination of the different social media
advertising and the personal selling to the customers as they feel that they are the main asset of
their company and it will be necessary for them in taking care of their women who are
chevron_up_icon
1 out of 19
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]