BSBMKG609: Marketing Plan for Temple & Webster - Assessment 1

This report details a marketing plan developed for Temple & Webster, an Australian home wares and furniture retailer. The report begins with an introduction outlining the company's objectives, vision, mission, and values, followed by an overview of its marketing objectives, strategies, and the purpose of the marketing plan. A thorough situational analysis is conducted, evaluating the company's current products, target markets, distributor networks, and competitors, along with an analysis of its financial condition and external forces. The report also includes a SWOT analysis of the company's products, highlighting strengths, weaknesses, opportunities, and threats. Furthermore, it explores marketing strategies such as market penetration and growth, and financial objectives, aiming to channel sales and achieve profitability. The marketing objectives, including target market, promotional, channel, and market research objectives, are also discussed. Overall, the report provides a comprehensive marketing plan designed to enhance Temple & Webster's market position and achieve its business goals.

BSBMKg609 Develop a Marketing plan
Assessment 1
Submitted by:
<Student name>
<Student Id>

Student Name Student I
Introduction
The below report identifies the importance of marketing and marketing strategies
within an organisational environment. The chosen organisation is Temple & Webster. It is an
Australian home wares and furniture retailer company headquarters situated in Sydney,
Australia. The company is developing new home décor products such as sofa, chairs, dining
tables etc. The report in context of Temple & Webster develops a marketing plan and its
importance.
The company wants the brand to explore new markets and create an image which is
better than their competitors. Also, the company wants other people such as its stakeholders
and its consumers to say positive things about the brand to create a good word of mouth
(Fine, 2017).
Organisations vision:
The vision of Temple & Webster is to serve consumers all across the world with the
best quality products. Also, to create an organisational environment supports the growth and
development of its employees.
Organisations mission:
The mission of the organisation is to provide world-class services to its consumers.
Also, to provide earn profits that supports organisational growth and development (Chernev,
2015).
Organisations Values:
Temple and Webster's values are the provision of Reliability, Loyalty, and
Commitment to its customers and stakeholders.
Marketing objectives:
Marketing objectives are goals set by Temple and Webster while the promotion of its
services and products. These set goals need to be achieved within a given time frame. Below
mentioned are the marketing objectives of the organisation:
1. To achieve a better consumer base
2. To earn profits
3. Building Brand Awareness
In what ways these Marketing objectives are achieved:
The organisation makes use of right strategies and developments to achieve the
desired marketing objectives. These marketing strategies help the organisation to achieve the
desired objectives and achieve required growth and success.
Purpose of Marketing Plan:
The marketing plan is produced in order to market the new home décor product
produced by Temple and Webster. The developed marketing plan is going to ensure success
in marketing and promotion of the developed home décor products.
The information contained in that plan is going to provide a brief understanding of
marketing for an organisation. Along with it, it will help in the analysis and evaluation of the
market objectives and the tactical decisions made by the target market.

Student Name Student I
Situational analysis on Current Products:
The current products of Temple & Webster includes a variety of office, home, kids
and casual furniture products.
Strengths Weaknesses Opportunities Threats
The current products
of Temple and
Webster are mostly
wooden and are
produced with the
best quality wood.
Temple & Webster
offers services such
as customer enquiries,
relationship
management, and a
variety of customer
engagement services
etc. which ensures a
successful marketing
and growth.
The pricing of current
products is mostly
levelled to the mid
range markets. These
set prices ensure
proper products sales
which is makes it
hard for the
organisation to gain
better market
advantage (Jarach,
2017).
Different ways of
distribution includes
retail, direct/internet,
direct/sales,
wholesaler and
distributor etc. The
distribution channels
used by Temple and
Webster includes
direct/internet,
direct/sales and retail
distribution. This is
an opportunity for the
organisation to
develop its product
range and ensure
better marketing.
The promotion done
by the company is
mostly through print
advertising. This is a
threat for the
organisation as most
of its consumers are
on make use of
internet and social
media to buy the
products. It is
importance that
Temple and Webster
makes use of online
marketing as well.

Student Name Student I
Situational analysis on Current Target Markets:
Below mentioned is the situational analysis on Current Target Markets:

Student Name Student I
Strengths Weaknesses Opportunities Threats
The organisation has
positioned its
products for
consumers which are
able to buy its
products and services.
The made products on
the company are best
for classic homes and
offices which wants
to go with trends and
techniques.
The target market of
the Temple &
Webster is mid and
low range market
from a long time.
Along with it the
organisation is
serving consumers
which cannot afford
its products and
services easily
(Lidstone and
MacLennan, 2017).
From the market
research it has been
identified that the
demographic profiles
of the company's
consumers is that its
ideal customer are
businessmen’s, office
workers, of students.
These customers earn
an annual income of
$50,000 to $70,000.
There are
opportunities for the
organisation to grow
its market.
The consumer
attitudes towards the
sold products by the
company is negative.
Their belief about the
company is that the
organisation products
are good but they are
very expensive.
The characteristics of
its target customers
include students,
employees, and home
owner. These
customers are able
earn $50,000 to
$70,000 per month.
Also, their age group
comes in between
from 30-35 years.
Temple and Webster
currently sells 20,000
of its made products
(chairs, tables, sofas
etc.) online and off-
line both on weekly
basis. Also, it is
serving its products
and services in both
Australia and New
Zealand. This suggest
that currently the
organisation is having
a good market size,
and there is an
opportunity for the
organisation to grow
its market. (Lee,
The purchasing
process of the
company's sold goods
is online and off-line
both. In its online
process consumers
can buy its products
and services easily
just after one click
and if they want to
buy them off-line in
that case they have to
visit Temple and
Webster's official
stores. The
organisation has to
increase its provide
its customer with
other options as well.

Student Name Student I
2017).
Situational analysis on Current Distributor Networks:
Situational analysis of Current Distributor Networks describing:
Strengths Weaknesses Opportunities Threats
Temple and Webster
sells its products and
services online and
currently the
company has
deployed its products
and services on eBay
(Huang, 2018).
Its distributors are
spread across all over
the only Australia and
New Zealand. It is
important for the
organisation to ensure
that the market of the
company is growing.
The deeds provided
by the distributors
allows the company
to sell its products
online for a period of
6 years. It benefited
the organisation for 6
long years to sell its
products and services
on eBay. (Williams,
2017).
The purchase process
consists of buying
options from the
organisation by
negotiation which
allows the distributors
to make use of better
discounts and
services. This makes
the organisation face
profitability issues.

Student Name Student I
Situational analysis on current competitors:
The situational analysis on current competitors that describes direct competitors of
Temple & Webster in terms of:
Strengths Weaknesses Opportunities Threats
Strengths of its
competitors include
better market
advantage, better
promotional strategies
etc.
The Target market
served by its
consumers include
mid to high-end
consumers. The
distribution is mostly
done in retail and
direct/internet. Its
competitors
distributor networks
are spread through
Australian and
American continents
(Siguaw and
Simpson, 2015).
Their weaknesses
include lack of social
media availability.
The products of its
competitors are
mostly made by
wooden, plastic and
glass in their furniture
range (Strauss and
Frost, 2016). Offered
services includes
better customer
understanding,
solving customer
enquiries etc. The
pricing of the
competitors products
are a bit higher than
the products of
Temple and
Webster's. Also, some
competitors sold
products are cheaper
and better.
Arrival of artificial
furnitures, new indoor
furniture options etc.

Student Name Student I
Analysis on current financial condition:
Situational analysis of current financial condition explaining:
Current sales analysis: The organisation sales has seen an increase of 12% since 2017 to
2019.
Profitability analysis: The profitability of Temple and Webster has seen an increase of 15%,
since 2017 to 2019. (Temple and Webster makes first profit, 2017)
Analysis on external forces:
Situational analysis on external forces that may impact the company’s product or the
market including:
social and cultural: changing trends, changing consumer demands
demographic: changing salaries of people, education level
economic: fluctuating currencies
technological: Arrival of new technologies, arrival of AI
political: Strict government regulations, political disadvantage
Legal, regulatory, ethical: Implication of heavy taxes, strict legal authorities (Andaleeb,
2016).
SWOT analysis of the company’s product(s)
Include situational analysis summary with a detailed SWOT analysis of the
company’s product(s)
S(Strength): Strong base of reliable raw material suppliers, strong free cash flow and high
level of consumer satisfaction
W(weakness): high attrition rate in work force, improper financial planning
O(Opportunities): Growth in new customers from online channels, new environmental
policies, stable free cash flow provides the organisation with opportunities to invest.
T(Threats): New environment regulations under Paris agreement 2016, Growing strengths of
local distributors, intense competition (Williams, 2017).
Marketing strategy:
Market penetration: In order to grow the market share, Temple and Webster can make use of
market penetration strategy. The market penetration strategy is going to allow the firm to
penetrate its products and services in those markets where it is selling its current products and
services (Huang, 2018).
Market growth: Market growth is another used strategy by the firm which can make its
market grow and bring new consumers to the organisation. This can make the organisation
grow its business and gain profitability as well.
Financial objectives:
Determine the financial objectives that discuss:

Student Name Student I
First objective is to channel sales, this objective is set in order to channel the customer
sales in an organisation. This makes the organisation able to achieve customer sales while
providing better products and services to them.
The other objective is to channelling sales, which is used by the organisation in order
to channel the sales of its in production products and services. Along with it, the company has
set margins which allows the organisation to set proper margins on its sold products and
services.
Good profitability for the organisation in achieving its desired goals and objectives
(Strauss and Frost, 2016) and maintaining the ideal ratios to achieve the desired target market
are some important financial objectives.
The marketing objectives:
Below mentioned are the marketing objectives used by Temple & Webster:
The target market objectives including its market share, customers and purchases are
used by the organisation to meet its overall market needs and requirements. Also, Temple and
Webster has made use of Promotional objectives including its level of brand, traffic building,
product trials and sales force are used by the organisation to increase the level of brand. Also,
the channel objectives such as dealers and order processing and delivery also are used by the
brand to successfully administer their processes and deliveries. At last, Market research
objectives such as studies initiated and completed are the market research objectives which
are allowing the organisation to prepare good research in order to ensure proper market
growth (Andaleeb, 2016).
Tactical decisions on target market:
Tactical decisions made on the target market:
Target market description: The target market of the organisation is high-end customer with
salaries annual income around $60,000 to $75,000.
Product positioning: The positioning of the product is in consumer markets which are high-
end and elite and can afford home décor products. Also, the company has positioned its
products in mid range markets to serve its current consumers.
Sales forecast for each product: In order to ensure proper sales forecast the organisation is
making use of sales data, industry wide comparison and sales trends (Lee, 2017).
Other tactical decisions include ensuring proper promotion and marketing is taking
place ensuring firm's growth and advantage.
Tactical decisions on products:
Below mentioned are the tactical decisions on products:
The company is launching products such as chairs, tables and sofa as per the trends in
its new category of Home décor. These products are made from classic wood and natural
fibres. The branding will be the same of as it was on its old products. The packaging is of
new products is going to be done to attract new customer markets. The changes made in the
new products are made in order to attract high-end consumer markets. These changes are
strong and expensive because of the expensive product range.
The tactical decisions on products include making changes in the products as per the
needs and developments of the organisation and the consumer needs as well.

Student Name Student I
Tactical decisions on promotion:
Tactical decisions on promotion includes:
Advertising: The advertising of Home Decor will be done different channels such as
Television, Radio, Internet etc.
Sales program: The sales program will be ensure better coordination of activities by
regularly understanding the consumer needs. This will make the organisation successful and
growing.
Public relations: To ensure public relations the organisation has made relations with big PR
agencies and their managers (Jarach, 2017).
Other tactical decisions on promotion includes better awareness about the market
trends and understanding of the needs and requirements of the market. s
Tactical decisions on distribution:
In order to ensure proper distribution, the organisation ensured that its products and
services are going to be sold in environments which are favourable for the company. Along
with it, the products are of Home décor and are going to be served to a high-end consumer
base. The organisation has decided to sell its products and services on Internet and online as
well as to wholesalers and distributors.
Other tactical decisions on distribution includes understanding the supplier demands
and make changes accordingly. Also, to ensure that the organisation is selling its goods and
products to the right suppliers and retailers.
Tactical decisions on pricing:
Below mentioned are the tactical decisions on pricing:
Temple & Webster in order to price its products well have made changes as per the
prices of their raw materials. The prices are decided with keeping in mind the cost margins.
The price segment is a bit high because the company is targeting high- end consumer bases.
The discounts provided are as per the needs of consumers and the types of discounts they
seek in order to buy not just a single but a number of products at the same time. The payment
terms include the organisation payment policies where the consumers have to make
immediate payments in order to purchase the product and services (What is a marketing plan,
2017).
Other important tactical decisions on pricing includes improving the product prices to
serve the required consumer base in order to make sure that the organisation is earning
desired profits.
Factors affecting price setting:
Below mentioned are the factors affecting price setting:
The main factors that are going to impact the price setting include the customer
expectations. The products are made for high-end range and mid-range customers. In any
case, the mid-range customers tried to buy the product of the company. Their expectations
might make the organisation price setting suffer.

Student Name Student I
Other factors will include the demand consideration of Home Decor. As per the
demands the company has to produce its products and services and it will directly impact the
price setting.
Tactical decisions on additional considerations (if any):
Below mentioned are the additional considerations on tactical decisions:
It is important for the organisation to ensure provision of better customer support
services. This will make the organisation's reach better in customer markets. Also, the
organisation needs to do market research in order to understand the trends and developments
needed (Fine, 2017).
Also, Temple and Webster needs to ensure that the organisation is doing proper
research and development to ensure developments of new products. Along with it, the other
important things that the organisation needs to consider is product growth and development
by making changes as per the required consumer needs.
Budgeting and Scheduling of tasks:
Scheduling of Tasks Costing Accountabilities Persons
Responsible
Press Release
Development
$500 Marketing
Department
Marketing
Manager
Review Program $1200 Marketing
Department
Assistant
Marketing manager
Online Advertising
Creating
$600 Marketing
Department
Marketing Team
Search Engine
Optimisation
$750 IT Department IT Head
Television
advertising
$1880 Marketing
Department
Marketing
Manager
Brochure $1450 Administration
department
Administration
managers
Training Materials $850 Administration
department
Administration
manager
TOTAL $7,150

Student Name Student I
Conclusion
The above report identifies the importance of marketing and marketing strategies. In
chosen organisation, Temple and Webster the report develops a marketing plan and explores
various analysis in order to create a marketing plan to make the organisation sell its new
product range Home Decor. Along with it, various tactical decisions have been made in order
to ensure the proper pricing and distribution of the products. At last, a proper budget has been
made in order to comprehend the budget required for the marketing plan.
You are required to prepare (make) PowerPoint slides to present your marketing plan to
your class. It is mandatory to submit power point slides as evidence.

Student Name Student I
REFERENCES
Books and Journals
Andaleeb, S. S., 2016. Services Marketing. In Strategic Marketing Management in Asia:
Case Studies and Lessons across Industries. (pp. 351-382). Emerald Group Publishing
Limited.
Chernev, A., 2015. The marketing plan handbook. Cerebellum Press.
Fine, S. H., 2017. Introduction to social marketing. In Marketing the Public Sector (pp. 1-12).
Routledge.
Huang, X., 2018. Cal-China Wine Cultural Exchange The Non-Profit Organization
Marketing Plan (Doctoral dissertation, California State Polytechnic University, Pomona).
Jarach, D., 2017. Airport marketing: Strategies to cope with the new millennium environment.
Routledge.
Lee, P. V., 2017. Putting some Health Care Plan Choices in Perspective: Markets and
Marketing Matters. JAMA internal medicine. 177(11).pp.1686-1687.
Lidstone, J. and MacLennan, J., 2017. Marketing planning for the pharmaceutical industry.
Routledge.
Siguaw, J. A. and Simpson, P.M., 2015. A Marketing Plan for Marketing Instruction: A
Satirical Look at Student Comments. In Creating and Delivering Value in Marketing (pp.
129-133). Springer, Cham.
Strauss, J. and Frost, R.D., 2016. E-marketing: Instructor's Review Copy. Routledge.
Williams, K. L., 2017. A Social Marketing Plan for 7hills Homeless Center.
Online
Temple and Webster makes first profits. 2017. [Online]. Available through:
<https://www.afr.com/business/retail/templewebster-makes-first-profits-20180723-h130fz/>
What is a marketing plan. 2017. [Online]. Available through:
<https://www.thebalancesmb.com/what-is-a-marketing-plan-1794426/>