Develop Organisational Marketing Objective: Boutique Build Australia

This report presents a comprehensive analysis of marketing objectives and strategies, focusing on a case study of Boutique Build Australia. It begins with a set of questions exploring the purpose of marketing objectives, the SMART framework, the Ansoff Matrix, and Porter's Five Forces, as well as the differences between marketing strategies and objectives. The report then delves into the application of these concepts to Boutique Build Australia, examining its strategic position, marketing performance, and the development of marketing objectives. It includes discussions on risk management, anti-discrimination legislation, and relevant marketing regulations in Australia. The report also covers statistical methods for evaluating marketing opportunities and the importance of ethical conduct in marketing, as well as the balanced scorecard approach. The analysis provides a clear understanding of the company's marketing landscape, challenges, and opportunities, providing valuable insights for strategic planning and decision-making. The report also outlines the key legislation and regulations that apply to the marketing industry in Australia and the importance of the Australian Marketing Institute Code of Professional Conduct.

Running head: DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
Develop organizational marketing objective
Name of the Student:
Name of the University:
Author note:

1DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
Executive Summary
The assessment has been divided into two parts. The first assessment is a set of question-
based on the case study and the second assessment is the report. The report highlights the
strategic analysis of the company as well as its marketing performance to identify and
develop marketing opportunities and objectives. In addition to this, a risk management
strategy has been formulated to ensure the steady growth of the company in the coming few
years.

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Table of Contents
Assessment Task 1:....................................................................................................................3
Assessment Task 2.....................................................................................................................9
Project....................................................................................................................................9
Risk Management Strategy..................................................................................................11
Conducting a meeting..........................................................................................................11

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Assessment Task 1:
Questions 1: Discuss the purpose of setting marketing objectives.
Answer: The purpose of the marketing objective is to increase help the organization set up
goals while promoting any product and service to the potential market consumers. An
organization sets up the marketing objectives for achieving the organizational objectives. The
organization can include product awareness for targeting the customer for providing
information to the customer about the launching of the product.
Questions 2: Discuss each component of the acronym SMART about marketing
objectives.
Answer: SMART is a crucial aspect of the marketing objectives that help the supervisor to
effectively manage the marketing objectives of the organization. SMART stands for Specific:
It ensures that the information is sufficient and will provide enough opportunities.
Measurable: it is the qualitative and quantitative attribute applied in the creation of metrics.
Achievable: The way the information can be used for improving the performance (Carraher,
2018). Realistic: How the information can help solve issues related to the market. Time-
specific: Setting the objectives for a different time.
Questions 3: Discuss the Ansoff Matrix and its application to developing marketing
objectives.
Answer: Framework help in the strategic management or planning of the organization. It
helps the senior manager, executive, and marketing devise strategies that ensure development
in the growth of the organization. It categories the market into four different parts, Market
Development, Diversification, Marketing Penetration and Product development depending on
the existing market, product, and new market and product. The four marketing strategies help
in the development and understanding of the market.

4DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
Questions 4: Explain the difference between a marketing strategy and marketing
objectives.
Answer: Marketing objectives are the marketing goals that the company needs to set up. The
marketing objectives are the SMART marketing goals that help in achieving targets (Wirtz &
Lovelock, 2016). Whereas marketing strategies are the detailed blueprints that help in the
achieving of the marketing objectives.
Questions 5: Explain Porter’s model of competitive advantage and its relationship to
marketing strategy and setting objectives.
Answer: Porter's Five forces is the framework that helps in the understanding of the
competition in the market. Porter's Five Forces are as follows:
 Power of Suppliers: Depending on the number of suppliers, power becomes high or
low.
 Power of Customers: Depending on the number of customers, the power becomes
high or low.
 Risk of substitute: The available products that can substitute the product of the
organization.
 Risk of new entry: The threat of new entry in the market.
 Competition: Is there any competition of the company that wants to set up the
business in the market.
These five forces help in the understanding of the market that helps in the development of the
marketing strategies and objectives of the organization.
Questions 6: Explain differences between the marketing strategies of market
penetration, market development, product development, and diversification.

5DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
Answer: Marketing strategies help in establishing market objectives or goals. It can be
accomplished with a modest product, increasing promotion or price decrease. Market
development is the process of expansion, which can be accomplished with customer
segmentation, foreign market or new area in the same country (Zillante et al., 2016). Product
development is the introduction of new products with the help of research and development.
Diversification is the process of growing the business with the introduction of new offers and
increasing shares.
Questions 7: Explain the balanced scorecard approach and its usefulness in assessing
organizational performance.
Answer: The balanced scorecard approach is the tool that helps in performance management.
This helps the manager in tracking the performance of the organization as well as the
employees' activities and production.
Questions 8: Define the term return on investment and outline how it is calculated.
Answer: It is the ratio of loss or profit on the amount that has been invested in the business in
a financial year. The basic formula of Return On Investment (ROI) is Net Profit/Total
Investment* 100 =ROI.
Questions 9: Describe four statistic methods and/or forecasting techniques that can be
used to evaluate marketing opportunities.
Answer: The four-statistic method or forecasting techniques that help in the evaluation of the
marketing opportunities are as follows:
Straight-line: This is the simplest method of evaluating the growth of the market and
identified the opportunities (Schawel & Billing, 2018). For instance, in the year 2018the
growth rate was 4% based on the past performance of an organization; there will be a
constant growth in the coming years as assumed.

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 Moving average: This is the process where the organization has a minimum growth
in the business as observed in the last 3-5 months. The revenue is estimated with the
bits of help of analyzing the last 3-5 months' growth.
 Simple linear regression: The widely used tool helps in the analyzing of the variable
for prediction purposes.
 Multiple linear regression: It is used for forecasting two or more independent
variables in the projection of the revenue.
Questions 10: Briefly describe one method for forecasting market growth rate.
Answer: The method of forecasting market growth rate is Straight line. This helps in the
understanding of the growth that has been taking place in the past base on which the
organization will be estimating its growth in the future. This is the simplest way to
forecasting the growth of the company.
Questions 11: Explain the purpose of a SWOT analysis and a PEST analysis and the
differences between each.
Answer: SWOT is a framework that helps in the internal analysis of an organization whereas
PEST is a framework that helps in external market analysis. SWOT helps in the
understanding of the areas that will help the organization to grow whereas PEST will help in
understanding the market.
Questions 12: As a Senior Marketing Manager responsible for a term of staff, outline
the anti-discrimination legislation you would need to adhere to. Provide one example of
how you would implement legislation in daily practice.
Answer: The anti-discrimination legislation is the law that refers to the legislation that
prevents discrimination of people (Rowley, 2016). It helps in the protection of a particular

7DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
group and class. As a Senior Marketing Manager, I will ensure that the staff is provided with
equal work and salary.
Questions 13: Outline key legislation and regulations that apply to the marketing
industry in Australia. Provide at least three examples.
Answer: The key legislation in the marketing industry in Australia are as follows:
 Telemarketing: In Australia, telemarketing is considered to be unlawful as there has
been a various foreign call that has been scamming various people of Australia.
Hence, it is an unlawful act.
 Security legislation: From the year 2001, the Australian Federal Government has
provided Australians with data protection that helps in the security of the people.
 Guarantees: The product bought must ensure good and certified. This is a law that
has been identified in marketing for the betterment of the consumers.
 Computerized marketing: There have been several scams that have been taking
place in Australia, hence, computerized marketing has been provided with anti-scam
that require charges.
 Publicizing standards: The Advertising Standard Bureau oversees Australia has
provided with promotional activities of the product.
Questions 14: Briefly describe the importance of marketing to abide by the provision of
the Australian. Marketing institute Code of Professional Conduct.
Answer: Australian Marketing Institute Code of Professional Conduct provides the scope of
professional principle that helps in the addressing of the issues that are identified in the
market (Baker & Saren, 2016). This helps in the encouragement of the trust of the customer
indispensable to compelling research and market.

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Questions 15: Describe one aspect of this Code that is important about identify
marketing opportunities.
Answer: The Code of Professional Conduct is a very crucial aspect as it helps in the
maintaining of ethics in the workplace and there leads to no discrimination among the
employees. It helps in the building of a relationship with the employees and ensures there is a
healthy relationship developed in the workplace (Fan, Lau & Zhao, 2015). It encourages a
better solution to the issues that may arise while working. It helps in ethical working in an
organization.

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Assessment Task 2
Project
The company, Boutique Build Australia, was established in the year 2014 in Sydney
which specializes in design as well as the build of high-quality designer and fashionable
homes for metropolitan areas of the country. The scope of where the company, Boutique
Build Australia, operates and competes is portrayed in Figure 1. The new strategic plan of
Boutique Build Australia helps the business to place a greater and better emphasis on the
methods adopted by them. The company has decided to place a strong prominence on green
building services that includes concepts such as, sustainability, greener society, environment-
friendly, etc. In addition to this, the company is highly specialized in what it does and has
expanded over its client's demographics with the help of both institutional as well as private
clients (Dawes, 2018). Boutique Build competes for its existing as well as potential
customers by trying to focus on a limited number of product features. The strategic plan of
the company will eventually help the company to formulate and devise a better marketing
plan to target its customers effectively.
Figure 1: Strategic Position of Boutique Build Australia

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Moreover, the marketing performance of the company since its initial operation stages has
constantly developed and there exists scope for further development with a little bit of more
funding. Taking into consideration the fact that the company, Boutique Build Australia, used
to invest comparatively less number of time by its staffs and limited financial aid in its
marketing plan, the company grew at a slow pace (Stead & Hastings, 2018). Now that the
company has understood the importance of the marketing function after having operated for
approximately four years, it has recently employed a marketing manager. It is also expected
that the company will perhaps even recruit a new marketing officer shortly to smooth over
the marketing functions. Moreover, to be able to keep its costs minimal, the company is
heavily investing in improvements in efficiency as well as automation to make the process
relatively easier for the staff members and clients.
The Chief Operating Officer (CEO) of Boutique Build Australia now has a clear
concept and understanding of the market in which it operates along with the competitors.
This enables the company to understand the importance of advertisements in the local
newspapers as well as on social media platforms (Balachander et al., 2017). Initially, the
company only used the word of mouth techniques to spread its business operations. Over the
last few years, the company has set up its marketing objectives in such a way where it would
attract more web traffic but also more leads and enquires. In addition to this, the CEO has
also indicated that during the three advertisements that were placed in the three consecutive
weeks, there was a significant increase in the number of enquires about the products as well
as the services of the company (Haider et al., 2019). Moreover, the company places a high
priority on the needs and wants of the clients. This shows that the marketing objective of the
company is to cultivate a culture where the staff members will perform their best to fulfill the
requests and requirements of their clients. Eventually, this allows the company to grow,

11DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
develop and outperform its competitors. Some of the marketing objectives that the company
can adapt to increase their reach and revenue is to-
 Implement an Integrated Marketing Communication (IMC) Mix strategy;
 Conduct surveys amongst the staff members as well as the clients;
 Invest more in marketing and website maintenance;
 Set short term goals to be able to achieve the long term goals;
 Implement a customer loyalty program to retain them
Apart from the above-mentioned strategies, Boutique Build Australia should also
spend approximately 4-5% of its total revenue on marketing. This will help them to build a
stronger customer base and will also increase the brand value as well as the market share.
Risk Management Strategy
To handle the risks that might arise shortly, the company has implemented a risk
management strategy. The possible risk that the Boutique Build will encounter is damage to
property, theft, customer injury, competition from well-established stores, and duplication of
designs (Avdeev, Nassiripour & Wong, 2019). To overcome the same, the company should
ensure its property and change the scope of the project activity which will help to avoid some
risks.
Conducting a meeting
A meeting is organized for the strategic development of the organization Boutique Build
Australia. The purpose of the meeting is to increase growth and develop the organization's
marketing strategies.
The Boutique Build Australia has a mission to expand its business and develop its
marketing strategies understanding the internal and external factors of the market as well as
the organization. The paper has been elaborately described in the organization. For a better
understanding of the organization, there have been various questions' answers jotted down.

12DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
The paper consists of different ways of establishing a successful business and process of
faster growth increasing the ROI.
The meeting has been arranged to approve the report and make necessary changes that
are required in the strategic management of the organization.

13DEVELOP ORGANISATIONAL MARKETING OBJECTIVE
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