Marketing Plan for P Cubed Application: A Report for MRKT20052

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ASSESSMENT 2- GROUP ASSESSMENT - MARKETING
MANAGEMENT AND DIGITAL COMMUNICATIONS
Student Name:
Student Number:
Subject Assessment: MRKT20052 ASSESSMENT 2- GROUP ASSESSMENT -
MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS
Date Submitted:
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Executive Summary
The report has provided with a detailed marketing plan in order to launch the application P
Cubed. The marketing plan has been developed in order to gather additional finances required to
develop and disturb the application developed. The application P Cubed has been developed
with a basic aim to increase the awareness amongst its users of the daily plastic lightweight
single-use plastic bags used by them while purchasing their daily needs and essentials. This
application aims at introducing effective and sustainable measures to the consumers as measures
or alternatives of the single-use plastic bags. The application strives to instill sustainable
purchasing practices in the consumers of Queensland. The target market identified is household
members and consumers of plastic substances above the age of 15 years. The marketing plan has
laid out in detail the distribution and communication actions that will be practiced in light of e or
digital channels and mediums. It has conversed on the identification of the target market, pricing
strategies and distribution strategies for the application. The report will enable to effectively
comprehend the details of marketing plan and develop strategic decision making in
contemporary business practices.
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Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Situational Analysis.........................................................................................................................5
Marketing Strategy........................................................................................................................11
Marketing Tactics..........................................................................................................................14
Controls..........................................................................................................................................18
Conclusion.....................................................................................................................................19
References......................................................................................................................................20
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Introduction
Plastic is recognized as one of the most commonly used non-recyclable element in the earth.
With developments and advancements of the products and services in the contemporary global
environment plastic manufacturing and its usage has doubled since ever. The amount of plastic
used in daily life activities and shopping is terribly impacting on the environment and the future
generations to come. It is estimated that close tone billion single-use plastic bags are used daily
in the shopping and daily activities by the consumers in Queensland. Plastic usage in
Queensland has increased with the shopping activities such as online shopping, direct delivery
to the homes (Vegter, et. al., 2014). More and increased amounts of plastic are used in order to
protect and safely deliver the products at the doorsteps of the consumers. The image below
provides with a briefing about the tonnes and amount of plastic that has been recovered by the
local government and authorities in Queensland in the year 2016-2017. The government has
introduced various reforms to combat plastic litter. The government will introduce a container
refund scheme and implying a ban on supply of lightweight single-use plastic shopping bags.
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(Source: Reisser, et. al., 2018)
Situational Analysis
Market Summary
A detailed and analytical market plan will be developed in order to create an effective
understanding of the marketing activities and strategies that will be executed in this report. The
market for P Cubed application is wide and vast in range. The motive of the motive of this
application is to develop a system that educates and informs the users about plastic consumption
on a daily basis. The market for this application appeals to the society for monitoring and
organizing the plastic consumption in order to support sustainability in the contemporary world.
The market approaches to the users from the age of 15 onwards. The market for this application
focuses on the younger generation in order to educate them about the daily plastic consumption
and undertake regular corrective actions. The population of Queensland was identified as the
major designing factor in the application. It is according to their mindsets, attitudes, behaviors
and plastic consumption activities.
Target Market
The target market for P Cubed application is identified as the population of Queensland starting
with the age of 15 years old. The application has focused on including younger generations in
the market in order to provide with opportunities for instilling sustainability towards the society
and the environment. The target market includes for younger generations both male and female.
It also lays major emphasis on the household population living in Queensland (Payne, et. al.,
2017). The application focuses to drive the attention of these household women and men in
order to calculate and monitor the consumption of plastic in daily activities. The target market is
identified as:
 Younger generation from the age of 15 years old
 Both Male and Female consumers
 Household workers and managers
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Market size
The market size for this application is also wide as it covers the majority of the consumers of
plastic. The application has focused to lay strategic focus on the household buyers of plastic
products. These are the consumers engaged in household shopping and providing daily
essentials and requirements to the rest of the family. The application enables these users to
calculate and analyze the amount of plastic used by these consumers in the daily shopping and
consuming activities.
Buying Behaviors
The buying behaviors of this strategic market force or the target market are also studied. The
buying behaviors of these consumers are studied and special emphasis has been laid on
impulsive buyers diving into buying decisions without subjecting and outlining the actual needs
of the products and services (Lusch & Vargo, 2014).The buying behaviors have been studied as
a mix of demographics, personality, lifestyles, usage rates of products, needs of the products and
buying patterns etc. It has been identified in the buying behaviors that the target market is a
mixture of Habitual Buying Behavior and Variety Seeking Buying Behavior.
Market Demographics
The potential consumers and target market in Queensland Australia for the application P Cubed
is on an average of 67.69% of the entire population. The target market comprises for a majority
of the population in Queensland. The household population is mostly educated and is favorable
in the usage and application of P Cubed.
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(Source: Reisser, et. al., 2018)
Geographic
Majority of the potential consumers and users for the application resides in Brisbane third
largest city in Australia. Gold Coast also accommodates for the second largest market for the
application in the regions of Queensland.
Behavioral Factors
The residents and population of Queensland are acceptable to changes and are a modern citizen
in their purchasing attitudes and behaviors. These are strategic buyers who keen to improve the
social standards and status for the society (Meier, 2012). They are ready to contribute and
cooperate in order to implement any change in the society for the betterment and advancement
of the citizens. The behavioral factor also demonstrates that these buyers are analytical in nature
and often turn out to be a loyal consumer.
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Market Needs
Consumers in the market those are in the aspiration to provide with their contribution in healing
the ailing effects of increased plastic consumption are identified as the target market. The
market needs are identified with strategic study and research that more than 30% of shoppers are
willing to give up plastic and adopt the supplementary provided. The market needs justify
development of an application that educates and informs the shoppers about plastic consumption
and developing alternatives to support for reduced plastic pollution.
Market Trends
The market trends in Queensland Australia are favorable towards the development and
establishment of the application. The Political factor has provided with different regulation and
policies which work in the dimension to reduce the use of plastic and support for environmental
stability. The political factor also provides with support and legal aid in order to develop
technological advancements supporting these aims (Kumar & Rajan, 2012). The Economic
factor contributes to levering increased purchase power with the buyers in the face of increased
disposable income. Therefore the buyers are provided with opportunities to purchase different
materials and products on a daily basis.
The societal factor for the application includes for increased acceptance by the society members
towards the development of new technologies that support environmental sustainability. The
society also demonstrates increased literacy rate which enables successful adaption of P Cubed.
The technological aspects have provided with ample opportunities to develop such technologies
and spread the usage in wider areas. The increased involvement of the internet and information
communication technology has provided for increased market area and potential consumers for
P Cubed (Baker, 2014). The legal provisions and regulations provided for the development of
application in Queensland support for strategic and effective legal protection and safety for the
consumers and developers.
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Competitors Analysis
With strategic market research and analysis, it has been established that there is no serious threat
of competition for the application P Cubed. The market in this segment is fresh and several
types of research are under process in order to develop a strategic and effective application. The
competitors in market are low and a threat of substitution and competition is dramatically low in
the regions of Queensland. Although various applications are available those provides with the
similar features but are altogether different in features and possible usage as compared to P
Cubed. The competition can be analyzed with the application of Porters Five-Factor Theory as
below:
• A threat of Substitution: the threat of substitution is low in the market as there are not
many developers working in the direction of controlling the plastic and its consumptions.
• A threat of Competition: the threat of competition in the market is low. The market is
majorly focused on pollution emitted towards air and water by the business processes.
There is no such application focusing on the development of plastic pollution and its
tracking on a daily basis (Berthon, et. al., 2012).
• Bargaining Power of Suppliers: the suppliers in application development are
recognized as the mobile application platforms such as the Google Play Store and iStore.
These are the only two recognized and highly used mobile application platforms.
Therefore the bargaining power of the suppliers in the market is high due to a lesser
number of alternatives available. The other suppliers such as patent and trademark
providers along with leg compliances are also limited.
• Bargaining Power of Consumers: the bargaining power of consumers is low as there
are no other options available in the market providing with similar services and features.
The consumers are not provided with a diversified application providing such facilities.
Therefore due to low competition, the bargaining power of consumers is less.
• Industry Rivalry: industry rivalry in the market is effectively high. With the raid
awareness and popularity of the services provided by the application more competitors
with emerge with their own applications (Klassen, et. al., 2017). These competitors will
then practice cut-throat competition to establish as market leaders in the industry.
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SWOT Analysis
Strengths
 Educates the consumer about plastic
consumption
 Informs the consumers about plastic
alternatives
 Less competition
 Large Consumer base
 Legal Support
 Social Acceptance
 Supportive Political Framework
 Increased social and market need
Weaknesses
• A greater requirement of educated
workforces
• Technical Aspect
• Risk of Cybercrimes and malfunctions
• Lower availability of launching
platforms
• A difference in consumer perspectives
Opportunities
• Increased social and environmental
sustainability
• Market collaborations and partnerships
• Integrating with different products and
services
• Legal Integrations and collaborations
Threats
• Potential Competition
• Increased cost of ICT
• Threat of cybercrimes
• Technical breakdown
• Legal consequence
• False declarations
• Misinterpretation of data
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Marketing Strategy
Mission Statement
The mission objective of P-Cubed’s free multi-platform app is as follows:
‘To make a safe and secure environment by recording the quantity of plastic used and make
better choices while purchasing reusable plastic bags.'
Marketing objectives
The marketing objectives for P-Cubed mobile application would be related to consumer
awareness, market share and being the market leader. The marketing objectives of the mobile
application are also measurable and realistic which can be achieved by implementing effective
marketing tactics (Kotler & Keller, 2012). Some of the marketing objectives are as follows:
1. Achieving market share- One of the key objectives of P-Cubed mobile app is to capture
high market share in the operating market. There are various organizations in the market
that may have the same idea about controlling pollution in the environment. In this
manner, it is crucial to use the application by a large number of population.
2. Creating awareness- Second marketing objective of developing P-Cubed app is to
create awareness about the environmental pollution to the people living in the society.
This is the most effective way to reduce the over-consumption of plastic by people. With
the help of the P-Cubed app, awareness can be created among individuals in society.
3. Being the market leader- Third marketing objective of the P-Cubed app is to be the
market leader in the technology business. This mobile application can be considered as
the innovative technology in the market which is helpful in the safety of the environment
(Armstrong et. al., 2014).
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Financial objectives
Along with the marketing objectives, there are some financial objectives by developing P-Cubed
mobile application. Some of the financial objectives are as follows:
1. Profit maximization- One of the crucial financial objectives for the P-Cubed app is to
increase and maximize the profit in the operating market. By providing accurate data and
information on plastic consumption to the users, a high level of revenue can be generated
and profit can be increased.
2. Value enhancement- Although it is important to increase the profit in the business for
future it is also crucial to enhance the value of the product in the market. Enhancing the
value of P-Cubed app is another financial objective of the business. The value can be
improved by the support of stakeholders, and effective relationship with the end users. In
addition to this, recognition of the P-Cubed app for reducing the use of plastic would
automatically enhance the value of the business (Wilson & Gilligan, 2012).
3. Reduction of cost- Developing mobile application would incur high cost in the business.
Next financial objective is to reduce the unnecessary cost incurred in the development of
mobile application. In addition to this, effective financial planning for the prices and cost
would also be helpful in improving profit for P-Cubed app.
Target market
For being the market leader, it is important to focus on various segments of customers in the
market. It is clear that individuals are using plastic bags in their daily lives so they have to be
aware of the negative impacts of plastic on the environment. Based on the segmentation of the
market, it is crucial to evaluate the most profitable and effective segment for P-Cubed app. it is
also important for the business to target the segment that can increase the profit for P-Cubed app
in future. For ensuring the environmental safety and reducing the excessive use of plastic in the
environment, demographic segmentation including the young generation would be targeted. The
reason for targeting these people is that the young generation is very much concerned now for
the protection and safety of the environment in which they are living. For proper targeting
process, some of the effective approaches and tactics would be adopted. In this manner,
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