BSBMKG609 - Develop a Marketing Plan for NatureCare Products

This document presents a comprehensive marketing plan for NatureCare Products, a cosmetic company operating in Australia. The plan begins with an introduction, followed by a background analysis of the Australian cosmetics industry, highlighting its growth and market trends. A detailed SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and a PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) analysis provide a thorough understanding of the company's internal and external environments. The marketing objectives include new product development, SEO integration, and social media presence. The marketing mix strategies cover product development, pricing (penetration pricing), promotion (SEO and social media), and place (Omni-channel distribution). Financial projections, including non-recurring and recurring costs, revenue, cost savings, and cost avoidance, are presented. The plan also outlines the implementation timeframe, marketing goals, tactics, responsible stakeholders, and costing for various initiatives. Finally, the document discusses marketing performance indicators, such as increased product awareness and sales growth. This assignment offers valuable insights into marketing strategies and planning within the context of the Australian cosmetic industry.

BSBMKG609 Develop a marketing plan
NatureCare Products
Marketing Plan template
Introduction
Marketing plan of an organization specifically identifies the different goals and objectives, the
activities and the different costs that might be incurred by an organization while marketing the
value propositions to the target audience.
Background
The cosmetics industry is a fast growing sector in Australia due to the increased affordability
of the Australian customers and the greater employability among the Australian female
population. It has been noticed that the industry is forecasted to reach US$ 6.7 billion by the
year 2024
SWOT and PEST analyses
SWOT assessment
Strengths
 Introduced herbal cosmetics
 Increasing amount of sales revenue
 High quality offerings as per the
customer expectations
 Eco-Friendly products
 Selling through website
 Strong financial position in the
market with a marketing budget of
US$150,000 for improving the
marketing operations
Weaknesses
 Lack of SEO integration in the
website
 Absence of active social media
presence
 The organization operates in the niche
markets while minimizing the scope of
increasing sales volume
 Minimal diversity of offerings
 High priced propositions
Opportunities
 Growing market trend of the
cosmetic industry in Australia
 Increasing number of professional
female in Australia and their growing
need to look good
Threats
 Intense market competition
 Lack of R&D measures
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BSBMKG609 Develop a marketing plan
 Product differentiation
 Making market penetration in
developing economies
PESTLE Analysis
Political Australia’s political situation is stable and
the government imposes lower levels of
intervention in the operations that are
undertaken by the businesses. It would
provide the concerned organization with
legitimate liberty on improving operations in
accordance to the common goals of the same.
Economic The GDP is perceived to be growing in the
Australian economy, stabilizing the
productivity of the nation while improving
the rate of employability among the people.
The increased employability among the
people would support in empowering their
affordability towards the propositions that
are being proposed by the venture
( :::::::::::::::::::::::::: ).
Social The growing inclination among the
Australian customers towards nature friendly
propositions and herbal offerings would
allow the concerned organization in gaining
a competitive edge over the existing market
players. Growth in education and awareness
of the Australian customers towards banning
the chemically manufactured propositions
holds high prospects of growth for the
concerned organization in the markets.
Technological The wider internet and broadband
penetration in the Australian economy holds
clear prospects for the concerned
organization while making market
expansions. The wider access to internet
services would permit the organization in
developing awareness among the target
customers while increasing their sales
revenue yearly.
Environmental The application of stringent environmental
protection related legislation would not
affect the capability of the organization as
the venture mostly focus on creating nature
friendly offerings without the use of
chemicals and toxins that might harm the
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BSBMKG609 Develop a marketing plan
environment. Therefore, the environmental
legislations and regulations in Australia pose
no significant threat to the organizational
operations.
Legal The employment contracts and corporate
regulations that are imposed by the
Australian government might increase the
cost of labor and operations of the venture
while ensuring the smooth functioning of
processes
Marketing objectives
 New product development and differentiation on the basis of prices
 Undertaking a SEO and maintenance of social media presence
 Improving the scope of supplies in supermarkets
Marketing Mix Strategies
 Product: The organization has already proposed cleansing creams, multi-protection day
moisturizing creams and regenerating facial scrubs. The business aimed at providing
the customers with herbal propositions. However, due to minimal diversity of the
offerings, the organization is facing trouble in improving their market sales. Therefore,
the organization is planning to develop a range of other cosmetics propositions in
adherence with the changing preferences and needs of the customers. The organization
will be reinventing the facial scrubs and developing scrubs with fruit essence for
providing the customers with better experience. Moreover, the organization would be
targeting female customers within the age range of 18- 60 years rather than 25-55 years.
It would help the venture in improving the scope of marketing in the Australian
economy.
 Price: The organization would be taking the initiative of promoting the propositions
through the application of penetration pricing measures. The application of penetration
pricing measures would allow the organization in improving the sales volume among
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BSBMKG609 Develop a marketing plan
the price sensitive Australian female customers, while gaining a competitive edge over
the existing market players.
 Promotion: The concerned organization lacks an efficient social media presence and
SEO activity which has downgraded the promotional efficiency of the venture. The lack
of efficient planning and execution of the promotional media vehicles incapacitated the
organization in improving awareness among the target customers. Therefore, the
organization would take the initiative of establishing the SEO based operations while
increasing the social media presence related activities for improving the awareness
among the customers.
 Place: The business would facilitate Omni- channeled distribution for increasing the
availability of the propitiations to the target customers. In is relation, apart from the
website, the organization would be supplying the propositions in different supermarkets
across different regions of Australian markets. The physical availability of the
propositions would allow the organization in improving the sales volume while
providing the customers with an option related to convenient shopping.
Budget and projected profit and loss
QUANTITATIVE ANALYSIS YEAR 1 TOTAL
NON-RECURRING COSTS
Desktop $
17,000.00
$
17,000.00
Telecommunication Equipment $
4,000.00
$
4,000.00
Software (Packaged or Custom) $
35,000.00
$
35,000.00
Furniture and Fixtures $
3,000.00
$
3,000.00
Labor $
10,000.00
$
10,000.00
Infrastructure $
40,000.00
$
40,000.00
Post-Implementation Reviews $
1,000.00
$
1,000.00
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BSBMKG609 Develop a marketing plan
TOTAL NON-RECURRING COSTS $
110,000.00
$
110,000.00
RECURRING COSTS
Logistics $
15,000.00
$
15,000.00
Software Maintenance and Upgrades $
7,000.00
$
7,000.00
Computer Supplies $
1,200.00
$
1,200.00
Ongoing Additional Labor $
8,000.00
$
8,000.00
IT Staff Costs (including Benefits) $
10,000.00
$
10,000.00
Other $
2,000.00
$
2,000.00
Telecommunications $
1,000.00
$
1,000.00
TOTAL RECURRING COSTS $
44,200.00
$
44,200.00
TOTAL COSTS $
150,000.00
QUANTITATIVE BENEFITS YEAR 1 TOTAL
REVENUES
Sales $
175,000.00
TOTAL REVENUES $ - $
175,000.00
COST SAVINGS
Decreased Cost of Services Provided $
7,000.00
$
7,000.00
Savings from Business Process
Improvements
$
3,500.00
$
3,500.00
Productivity Gains $
4,000.00
$
4,000.00
Savings from Structural Changes $
3,000.00
$
3,000.00
Savings from Optimized Information (or
Flow)
$
2,000.00
$
2,000.00
Reduced Staffing Cost (including
Overtime)
$
18,000.00
$
18,000.00
TOTAL COST SAVINGS $
37,500.00
$
37,500.00
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BSBMKG609 Develop a marketing plan
COST AVOIDANCE
Advertisement costs $
20,000.00
$
20,000.00
TOTAL COST AVOIDANCE $
20,000.00
$
20,000.00
OTHER BENEFITS
Miscellaneous $
2,000.00
$
2,000.00
$ -
TOTAL OTHER BENEFITS $
2,000.00
$
2,000.00
TOTAL BENEFITS $
59,500.00
$
234,500.00
Implementation time frame
Marketing goals Tactics Responsible
stakeholders
Timeframe Costing Rationale
New product
development
 Conduction
of market
need analysis
 Planning the
blueprints of
the new
propositions
 Designing the
propositions
 Conduction
of pilot
testing
 Assessment
of feedbacks
Market
analyst,
departmental
managers,
designers, Lab
technicians,
project
managers and
engineers,
Management
Board and
employees
6-8 months AU$
67,000
The
development
of new range
of proposition
would allow
the
organization in
improving the
market scope
while widening
the target
audience
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BSBMKG609 Develop a marketing plan
 Modifying
and
commercializ
ing the
propositions
Redesigning the
pricing strategy
 Assessment
of market
competition
 Consultation
with finance
manager
 Determining
the post
implementati
on effects of
the
penetration
pricing on
organizationa
l margins
 Implementin
g the pricing
strategy
Finance
consultant,
CEO, market
analyst and
the Board of
Directors
2 week AU$
3000
The change in
the pricing
strategy would
allow the
organization in
increasing the
sales volume
while
attracting the
attention of the
price sensitive
customers
towards the
propositions
and gaining a
competitive
weightage over
the existing
market players.
Implementation
of SEO and
 Hiring SEO SEO
specialists,
5-9 months AU$
50,000
The
introduction of
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BSBMKG609 Develop a marketing plan
social media
vehicles
specialists
and social
media
managers
 Holding
consultation
and planning
with Social
media
manager and
SEO
specialists
 Developing
the SEO
operations
while leaving
the link of the
organizationa
l website in
different
relevant web
pages
 Undertaking
meeting with
Social media
HR manager,
CEO,
Management
board, Social
media
manager
SEO and social
media
marketing
channels
would allow
the
organization in
improving
their market
position while
maximizing
awareness
among the
target audience
for boosting
sales.
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BSBMKG609 Develop a marketing plan
manager
 Developing
content
 Circulating
and
publishing
eventful
content in
different
social media
vehicles
Supply of
propositions to
supermarkets
 Consultation
with the
supermarket
owners
 Meetings
with the
logistics
department
 Planning and
budgeting on
the logistics
operations
 Integrating
with third
Supermarket
managers,
CEO,
Management
board, labors,
contractors,
distributors
3-4 months AU$
30,000
The supply of
the
propositions to
the different
supermarkets
would allow
the
organization in
promoting
offline
shopping in
accordance
with the
shopping
behavior of
GenX and
increase sales
volume
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BSBMKG609 Develop a marketing plan
party
distributors
 Distribution
of
propositions
in different
supermarkets
Marketing performance
 Increased product awareness among the female customers by 12% within the next 6
months
 Increase in the online and offline sales by 15% over the next 1 year
 Growth in the market share by 6% within the next 1 year
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