HI5004 Marketing Management Assessment: A Report on Baby Bunting

This report provides a comprehensive assessment of Baby Bunting's marketing management strategies. It begins with an overview of the company, its mission, vision, and values, highlighting its position as a leading retailer of baby products in Australia. The report analyzes the company's internal strengths and weaknesses, external opportunities and threats, and the competitive landscape. It further examines the 5Cs (Company, Customers, Collaborators, Competitors, Context) to understand the factors influencing Baby Bunting's marketing environment. The report also explores how the firm collects information for its processes, emphasizing the importance of market research and intelligence. Finally, it discusses the development of marketing tactics, focusing on the marketing mix (Product, Price, Place, Promotion, People, Process) and recommending strategies to achieve marketing objectives and maintain a competitive edge.

HI5004
Marketing Management
Assessment- 2
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Contents
Introduction................................................................................................................................3
Issue 1.........................................................................................................................................4
About Company.....................................................................................................................4
Issue 2.........................................................................................................................................6
5C’s of the company..............................................................................................................6
Issue 3.........................................................................................................................................8
How do firms collect information for its processes?.............................................................8
Issue 5.......................................................................................................................................10
Developing Marketing Tactics.............................................................................................10
Conclusion................................................................................................................................12
References................................................................................................................................13
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Introduction
The marketing strategy development is a phase in which the company or organisation plans to
work on the marketing strategy to be developed. In this, the marketing strategies work in an
effective manner for attaining organisational goals. The marketing strategies help in
identifying the market and competitors to whom the company has a tough competition and to
beat the competition there is a need to develop strategies. The description of the organisations
and their marketing abilities to compete are determined in this report. The detail about the
selected company and the necessary information about the company are marketing plans and
strategies which have been discussed in this report. The company selected is Baby Bunting
which owns retail stores for baby products. There is a discussion about the mission and
values of the company and the important marketing concepts and elements which may affect
the company.
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Issue 1
About Company
The company Baby Bunting is a retail company in Australia which provides the baby
products and the items related to the baby’s needs. The industry in which the company deals
in the retail industry sells its products and services in an effective manner. The retail industry
includes the baby products and other products. The company is established in Melbourne for
30 years and it is the largest nursery retailer in Australia. The company has its brands across
the world (Toomey, 2018). The company deals in various products of babies such as clothing,
toys, accessories, furniture, prams, car seats etc. The company has the objective of profit
maximisation as well as a one-stop provider for all the baby products.
There is mission vision a value statement of the company Baby Bunting:
Mission- The mission statement of the company is to become the world’s largest one shop
for baby products and items.
Vision- Vision is to create innovation in the service and product which the company offers so
as to maintain customer attraction and satisfaction (Toomey, 2018).
Values- The values are related to the happiness and satisfaction of the babies and their
parents.
The marketing orientation or the philosophy of the company to discover and meet the needs
and desires of its customer to its product mix is effective. These of the products and services
and researching the customer needs and processing the products to satisfy the customers is
done in Baby Bunting.
There are all types of products available to the parents in Baby Bunting. The products related
to the need and entertainment of babies is available at one shop named Baby Bunting (Bell
and Harrison, 2018). The products which this organisation offers are-
Prams- The prams are the product which is used to carry the baby on wheels. This is
available at the stores of Baby Bunting
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Baby carriers- Baby carriers are basically the carrying bag for a baby who helps in carrying
baby easily on the shoulders. The company helps in making it available for the parents.
Furniture- Furniture related to babies are available to the Baby Bunting stores. These may
include chairs, bed etc.
Nursery- Nursery includes all the items related to baby needs.
Safety- Safety items which can help in maintaining the safety of babies are also available to
the customers.
Babywear- Clothing and accessories for babies to wear are also available in Baby Bunting
for children.
Toys- it also has a toy shop in which varieties of toys and gifts for babies are available.
Feeding- All the items related to the baby food are the part of the Baby Bunting’s products.
The organisation’s marketing strategy of the company is effective (Bell and Harrison, 2018).
It helps in attaining the different nature of customers and attracting them with the strategic
marketing concept. The strategy which company focuses on is product differentiation.
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Issue 2
5C’s of the company
5C’s refers to the major five concepts of the company which includes its elements that can
affect the company. Analysis of the 5C’s of the company is done below-
a. Company- The Company namely Baby Bunting is one of the retail companies or brands
of Australia which offers the baby products and items related to babies needs. The
company works in the environment where it gets the mirror with the strengths,
weaknesses, opportunities, and threats (Oh, et. al., 2018).
Strengths
 Strong brand portfolio
 Good returns
 Successful track records
 Innovation
 Superb performance in new markets
 Reliable suppliers
Weakness
 Improper product demand forecasting
 The gap in the product range.
 Inability to face challenges
 Improper marketing of the products
Opportunities
 New trends available
 Organisation’s core competencies
 Decreasing cost of transportation
 Entrance into new markets
Threats
 High competition
 Increased prices
(Oh, et. al., 2018)
b. Customers- The customers of the company refer to the people who want to purchase the
product from the company for their babies. The customers whom the company is serving
and targeting are the parents. The behavior which is typical from the customers is their
confused attempts of purchasing.
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c. Collaborators- the collaborators are the people who have a link with the company in any
form. The collaborators work for the company (Oh, et. al., 2018). These may include
suppliers, distributors employees etc.
Suppliers- Suppliers are the team of people who supply the raw materials and items and
products to the company from the manufacturing companies or units. These are the link
between companies and manufacturing units.
Distributors- Distributors are those people who help in distributing the product to the retail
stores of the company in different parts. They help the products to reach to the customers.
Employees- Employees refers to the people who work for the company and ensure that the
product is satisfactory to the customers and maintaining the company’s profitability with
effective operations and working (Anderson, et. al., 2018).
d. Competitors- Competitors refers to the rivalries which have a competition with the
company Baby Bunting. The competition occurs when the company starts producing and
selling the same product at different price and quality. This becomes a threat to the
company.
e. Context- Context refers to the factors which affect the company. These factors have
different concepts in providing the establishment to the company. There are basically two
factors which have affected the company Baby Bunting (Anderson, et. al., 2018). The
factors are related to the legal and technological factors. The legal factors affected the
company because of the different legal structure of different countries and places where it
sells its products. The legal factors including taxes, policies, and currency values affect
the company. Other is the technological factors which are basically the technological
factors as the company is not in the manufacturing working; the latest technologies
become a challenge and affect the company.
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Issue 3
How do firms collect information for its processes?
The firm collects the information in many ways. There is clear information about the
collection of various data of the firms as the business needs to be expanded and run in the
different countries. The firm focus on various methods such as market research a market
intelligence to access the information about the customer wants and demands as this helps in
getting the information about the customers, competitors, collaborators, new context and
about the company itself. The process of the company is to get the work done and achieve the
profit by using various techniques and methods to run an organisation. Baby Bunting works
effectively in attaining the information about the different C’s of an organisation during the
process (Olson, et. al., 2018). Their need to understand the effective solutions helps in getting
the information.
The customers are the important and core part of an organisation. There is a need for
attaining the information related to customer wants and desires so that the company could
achieve the customer satisfaction by providing them the desired products. The customer
investigation, research, questionnaires, and interviews are helpful to the customers to attain
the customer analysis and demand of the customers. The Baby Bunting is working on
effective marketing plans and investigations and research to get the information on the above.
The competitors have different directions to attack the companies (Olson, et. al., 2018). The
companies work on the effective research and investigation over the competitor’s to
understand and get detailed information about the competitors and their threat which may
affect the company. The competitive strategies and marketing activities which are played by
the competitors are also attained with the help of market investigation. Baby Bunting plays an
effective role in making the competitor's strategy go vane by the effective and proper
investigation.
The business contexts include the major factors which may affect the business. The firms
focus on maintaining the good research plan and investigation plan to consider and focus on
the context which keeps on changing the business from one country to another. This is
basically the changes in the environment and different business locations (Olson, et. al.,
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2018). The assessment of it could be done with the effective research and proper networking
abilities of a company.
The collaborator's information to the company is very important as they take the items and
products and has the responsibility for the most valuable asset of the company. The role they
play is very important as they help in disseminating the products at different places and
locations and collecting the same for the companies. The process includes its information
which helps the company in getting the effective working.
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Issue 5
Developing Marketing Tactics
The marketing strategy which is described above includes the development of a strategy on
the basis of age, geographic area and varieties of the products. Baby Bunting is focusing the
marketing strategy which could help in attaining the marketing objectives and the
competition in an effective manner. The company has been focused to attempt various issues
related with the marketing strategy (Wu and Li, 2018). The strategy which is developed on
the basis of above discussion is focused on the demographic, geographic and introduction of
new range of the products for babies. The marketing strategy needs the tactics for achieving
the marketing operations and functions of the company. The recommended marketing tactics
are basically marketing mix, which ensures to cover every aspect in an effective manner.
Figure-1 Marketing Mix
Source- (Ashraf and Bhalla, 2018)
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Product- Product of the company includes the designing, technological improvement, its
usefulness, its convenience, the value of the product. The quality of the product is major
matters to the customers which in needed to be considered by the organisation (Wu and Li,
2018). The branding and accessories could be improved to attain marketing strategies.
Place- The marketing tactics of Baby Bunting could consider the place in which the location
of the market including retail, wholesale, internet, direct sales, and multi-channel could be
used by the company to manage its operations (Wu and Li, 2018).
Price- It is the most effective and necessary element of marketing tactics in which the pricing
strategies should be considered by Baby Bunting. In this, the price strategies such as
Skimming, penetration, psychological, cost-plus are included which should be used by the
company.
Promotion- The promotion of the products and brand is important. For those, the promotional
strategies should be considered by Baby Bunting for effective operations. Some of the
promotional techniques could be special offers, advertising, endorsements, direct marketing,
leaflets and posters, free gifts and competitions should be used for promotion.
People- The people should be considered a valuable asset for the company as they are the
human resource which makes in attempting the organisational efforts (Wu and Li, 2018). The
employees, management, culture and customer services are included in the people which
need to be understood by the organisation.
Process- The process refers to the way of working in the industry in an effective manner. The
process helps in understanding the effectiveness of working. The Baby Bunting Company
should consider the effective process which is relevant to the service and product industry.
Physical Environment- The physical environment refers to the smart, run-down, interface,
comfort, and facilities (Ashraf and Bhalla, 2018). The physical environment helps in
providing the assistance to the working ability of the company. Baby Bunting should consider
the effective process for its working.
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Conclusion
The marketing development and strategies development is an effective and important concept
to be understood by the companies which work in the external and international environment.
The companies need to follow various different strategies for a different level of expansion.
To meet the customer demand and attaining the customer satisfaction an effective marketing
strategies development is important. The need for the improvement for Baby Bunting is in the
effective planning of marketing strategies and the use of effective marketing mix. This will
help the company in getting the effective marketing plans to achieve the customer’s attention
towards the products and beat the competition in an appropriate manner.
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