BSBMKG609 - Marketing Plan: Temple & Webster Home Decor Product Launch

This marketing plan, developed for Temple & Webster, an Australian home wares and furniture retailer, outlines strategies for launching a new home decor product. The plan begins with an introduction to the company's vision, mission, and values, emphasizing the importance of creating a positive brand image and achieving marketing objectives within a specified timeframe. It includes a situational analysis of current products and target markets, covering product attributes, pricing, distribution, promotion, and consumer demographics. Tactical decisions on promotion, such as advertising, sales programs, and public relations, are detailed, along with factors influencing price setting. The plan also provides a budgeting and scheduling framework for various marketing tasks, including press release development, online advertising, and television advertising. The report concludes by highlighting the significance of marketing strategies and provides references to relevant marketing literature. The plan aims to ensure the successful marketing and promotion of Temple & Webster's new home decor product range.

MARKETING PLAN

TABLE OF CONTENT
1. INTRODUCTION
2. ORGANISATIONS VISION
3. ORGANISATIONS MISSION
4. MARKETING OBJECTIVES
5. PURPOSE OF MARKETING PLAN
6. SITUATIONAL ANALYSIS ON CURRENT PRODUCTS:
7. TACTICAL DECISIONS ON PROMOTION:
8. BUDGETING AND SCHEDULING OF TASKS

INTRODUCTION
The chosen organization is Temple & Webster. It is an Australian home wares and furniture
retailer company headquarters situated in Sydney. 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. This presentation will demonstrate a marketing
plan for new product Temple & Webster is going to launch.

ORGANISATIONS VISION
• The vision of Temple & Webster is to serve consumers all across the world with the
best quality products. Also, to create an organizational environment supports the
growth and development of its employees.

ORGANISATIONS MISSION
 The mission of the organization is to provide world-class services to its consumers. Also,
to provide earn profits that supports organizational growth and development.
Organizations 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.
 In what ways these Marketing objectives are achieved:
1. 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.

Situational analysis on Current Products:
The current products of Temple & Webster includes a variety of office, home, kids and
casual furniture products.
• Product attributes
• Pricing
• Distribution
• Promotion
• Services offered

Situational analysis on Current Target Markets
• Target market approach
• Demographic / Psycho graphic profile of market
• Characteristics of target customers
• Product positioning
• Attitudes
• Purchasing process
• Product market size estimates
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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 organization
successful and growing.
• Public relations: To ensure public relations the organization has made relations with big
PR agencies and their managers
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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.
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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 Optimization $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