OzCo Boats: Analysis of Marketing Principles and Strategies

This report analyzes the marketing principles applied to OzCo Boats, a family-owned Australian business specializing in boat manufacturing. The report begins with a perceptual map of customer segments and a SWOT analysis, identifying the company's strengths, weaknesses, opportunities, and threats. It then delves into the threats and opportunities analysis, highlighting factors such as technological changes, market competition, and the rise of luxury product demand. The report applies the ANSOFF matrix to develop strategic recommendations for market penetration, product development, and market diversification. Finally, the report provides specific recommendations, including targeting luxury clients, implementing cost leadership strategies, adopting new technologies, product differentiation, and utilizing online distribution channels to enhance OzCo Boats' market position and achieve sustainable growth. The report is well-structured and includes a reference list.

Running head: MARKETING PRINCIPLES
Marketing principles
Name of student
Name of University
Author note

1MARKETING PRINCIPLES
Table of Contents
Perceptual map of Customer Segments.................................................................................................2
SWOT Analysis.....................................................................................................................................2
Threats and Opportunities Analysis.......................................................................................................4
ANSOFF matrix....................................................................................................................................5
Recommendations.................................................................................................................................6

2MARKETING PRINCIPLES
Perceptual map of Customer Segments
SWOT Analysis
Strengths
 A well know family owned business
specialised in the manufacturing and
production of boats
 Good quality products that are also
considered as luxury boats made in
hand built ways
 Selling boats to the boat companies,
yards and even directly to the clients
has facilitated product distribution
 Strong cash flow with good financial
condition (Kotler and Armstrong
Weaknesses
 Shrinkage of Australian market
 Increase in numbers of substitutes
 No experience in global market
 Outdated technologies and
traditional methods used for the
manufacturing and production
processes

3MARKETING PRINCIPLES
2013)
Opportunities
 Use of new and advanced
technologies will increase the
product portfolio in spite of the
Australian market decline
 Following proper marketing policies
and principles will assist in allowing
production of more new boat types
that were previously illegal
 There is scope for purchasing the
smaller business competitors to gain
a bigger market share with
liquidated assets (Armstrong et al.
2014)
 With the increased economy, there
are scopes and opportunities for
creating wealthy clients who prefer
luxury products
Threats
 Low morale of staffs has resulted in
resigning from the job and poor
performance too
 Poor ability to manage technological
changes in a fast manner
 Lack of expected revenue and poor
management of staffs further can
contribute to deteriorated business
performance
Threats and Opportunities Analysis
The threats include lower level of morale among the staffs and inability to cope up
with the fast paced technological changes, which has contributed to poor business functioning

4MARKETING PRINCIPLES
and degraded business performance at OzCo Boats in Australia. There are other threats like
rise of substitute products and services, which has made it difficult for the business to acquire
greater market share and thus there has been poor liquidation of assets too for the company
(Viegas, Moniz and Santos 2014). The growing economies has further resulted in creating
various scopes and opportunities where the clients’ demands for the luxury products have
increased, thus making way for increasing the sales level of the company, furthermore to
attain higher level of profit in business as well. There have been restrictions and introduction
of legislations in Australia, which has further affected the production and created limitations
during the manufacturing and production processes largely too (Proctor 2014). The rise in
economy has also made way for the wealthy consumers to create higher demands for the
luxury products, which further enabled the company to manage higher production units for
successfully catering the needs of customers and ensuring higher level of satisfaction as a
whole.
ANSOFF matrix

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Due to the various issues faced by the company in terms of existing business
processes and strategies, OzCo Boats in Australia needs to follow the ANSOFF matrix,
which is an effective strategic planning tool that can allow for developing an useful
framework required to provide support to the senior managers, executives and marketers to
devise strategies and implement those for ensuring future growth and development and
sustain in the marketplace too (Henisz and Zelner 2015). The four major components include
market penetration strategy, product development strategy, market development and
managing diversification of products and services too to sustain in the market.
The penetration into the market will be possible with the introduction of new products
and services and with the implementation of new technologies for facilitating the building
and production of boats along with wiping out the small competitors from the competitive
marketplace. It could also be possible by replacing the traditional methods of production into
new ones and also by adjusting the prices of products along with increased promotional
activities for managing distribution channels and introduce new products in the marketplace
(Hoberg, Phillips and Prabhala 2014). This has been aimed at developing the market along
with penetration into the market with the help of various pricing strategies required to
influence the consumer buying behaviours too.
The product development should include developing new and unique products that
can cater the changing needs of consumers with ease and effectiveness. The new found ways
and implementation of new technologies could also benefit the business by allowing the
business to strengthen its financial condition furthermore and ensure production of luxury
boats that re unique and effective to fulfil the needs and preferences of clients conveniently
(Spann, Fischer and Tellis 2014).

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The strategy revolving around the concept of development of market could enable
growth and success within the competitive marketplace by following the organisational
policies and principles along with the principles of marketing implemented by the
Government. This would ensure that fewer restrictions are placed on the use of traditional
boats and the company can easily sustain in the marketplace by making innovative and
unique boats available for the clients (Baker 2014).
With the presence of substitute products in the marketplace, it could be seen that the
business needs to diversify its products and services to make those unique and differentiate
from the competitors, furthermore grab the attention of clients and make them inclined with
the products and services OzCo, Australia (Armstrong et al. 2014).
Recommendations
 It is recommended for the business organisation named OzCo, Australia to make sure
that the luxury segment clients and the wealthy customers are targeted for meeting
their needs and preferences
 The management of cost leadership strategy is recommended as well for ensuring that
the right prices are set for the products and services and their buying behaviours are
influenced
 Implementation of new technologies is recommended for making the production
process faster and effective along with focusing on both quality and efficiency
 With the emergence of substitute products in the marketplace, it is recommended for
OzCo in Australia to differentiate the products properly and ensure that the clients can
understand about the products and services, furthermore check for how effectively
their needs and requirements could be met by purchasing the products

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 One of the major recommendations would be the use of online channels for
distribution of products and even by involving social media platforms for drawing in
more clients, furthermore create awareness among the clients and strengthen the
customer base too.
Reference List
Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson
Australia.
Baker, M.J., 2014. Marketing strategy and management. Macmillan International Higher
Education.
Henisz, W.J. and Zelner, B.A., 2015. The hidden risks in emerging markets. In International
Business Strategy (pp. 646-654). Routledge.

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Hoberg, G., Phillips, G. and Prabhala, N., 2014. Product market threats, payouts, and
financial flexibility. The Journal of Finance, 69(1), pp.293-324.
Kotler, P. and Armstrong, G., 2013. Principles of Marketing (16th Global Edition).
Proctor, T., 2014. Strategic marketing: an introduction. Routledge.
Spann, M., Fischer, M. and Tellis, G.J., 2014. Skimming or penetration? Strategic dynamic
pricing for new products. Marketing Science, 34(2), pp.235-249.
Viegas, M.D.C., Moniz, A.B. and Santos, P.T., 2014. Artisanal Fishermen Contribution for
the Integrated and Sustainable Coastal Management–Application of Strategic SWOT
Analysis. Procedia-Social and Behavioral Sciences, 120, pp.257-267.