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BSBMKG609 Develop a Marketing Plan

Assessment 1

1. Introduction

Briefly discuss the organization and the purpose of the report.

Organisational Overview

Houzit is a chain of homewares stores in Brisbane that specialise in bathroom fittings, bedroom fittings, mirrors and decorative items. They currently have 15 stores spread across the greater Brisbane area, with all stores being managed and coordinated from their head office in Milton.

You have recently been appointed as the marketing manager and must now review the organisation and devise marketing strategies that will move Houzit towards its strategic goals.

Purpose of the report

A major purpose of the report is to set the company on a specific course in marketing. Goals of marketing generally align with broader company objectives. A new company looking to grow, for instance, often has a marketing plan that emphasizes strategies to increase customer base. A low penetration pricing strategy is a common technique in this case. Gaining marketing share, increasing customer awareness and building favorable attitudes are other common objectives. The objectives element of a marketing plan helps companies ensure all marketing investments have a target.

2. Organisational Overview

  • Discuss the Strategic Direction and Organisational Objectives of Houzit

    • Strategic Direction

    Houzits Mission

    By 2020, Houzit will have a significant retail presence in homewares in every Australian capital city, starting with 15 stores in the greater Brisbane area and growing to 100 Australia wide.

    Organisational Objectives

    1. Increase sales from $15million per year to $20million per year in the next three years.

    2. Increase our loyalty customers list from 10,000 to 15,000.

    3. Establish brand recognition in Brisbane so that at least 1 in 3 people recognise our brand in a random survey taken in 18 months time.

    b. Discuss Current size, Capabilities and Resources of the Organisation, including any notable strengths and weaknesses

    Current size

    ○ The typical Houzit store has the following characteristics: Size – 1,000–1,500 m2.

    Capabilities and Resources

    ○ Employees – 15–20 full time, plus several casuals, They currently have 15 stores spread across the greater Brisbane area, with all stores being managed and coordinated from their head office in Milton.

    Strengths:

  • Excellent staff who are highly skilled and knowledgeable about homewares.

  • Great retail space that is bright, functional and efficient for a commercialurbandistrict.

  • High customer loyalty among repeat customers.

  • Assortment of offerings that exceed competitors’ offerings in quality, range andaccessibility.

    • Weaknesses :

  • A limited marketing budget to develop brand awareness due to the lack of critical mass and store cover.

    • Assessment 1 kwangza
    Last updated: Sep 2023

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  • The struggle to continually fund the growing long-term repayment plans taken out by our customers.

    • c. Discuss the Gaps between the objectives and the current capabilities and resources

    For the organisation objectives, the company need to

  • Recruit more staff for specific position for example need to build very strong marketing team to to continually fund the growing long-term repayment plans taken out by our customers.

  • Resource like products need to improve to win over the competitors such as many level of quality, variety of the product

  • Expand more brunch to other big city like Melbourne and Sydney because the target group of

  • the sophisticated people who are house proud

  • shoppers who will drive to an easy-to-access store

  • customers who require payment plans to spread their commitment over an extended period

  • renovators and new home builders

    • Melbourne and Sydney are cities which is property (like house, apartment ) growing rapidly so this will be one of the best opportunity to open some store in these two cities.

    .

    3. Opportunities

  • Identify two marketing opportunities (choose from Joint Venture, Franchising, Strategic Alliances, Merger or Acquisition) which meet the objectives and evaluate the risks and benefits of each opportunity.

    • 1.Franchising

  • Benefit of franchising

  • Franchising provides expansion capital

  • Avoids employee related problems

  • Accelerates expansion over wide area

  • Franchisee operators are motivated to succeed

  • Risk of franchising

  • Sharing profits

  • Loss of absolute control

  • Lawsuits with unprofitable and/or difficult franchisees

  • State and federal franchise disclosure laws

    • 2. Strategic Alliances

    Benefit of Strategic Alliances

  • Access to Supplementary Services 

    • One of the most attractive benefits of an alliance with another business is the opportunity to offer supplementary services to clients that otherwise would not be available.

  • opportunity to Reach New Markets 

    • Entering a strategic alliance will automatically increase awareness of a brand among an entirely new market that the franchise business has not had the resources to reach beforehand.

  • Increased Brand Awareness 

    • The opportunity to grow market size with a partnership presents the additional opportunity to increase awareness of the brand

    Risk of Strategic Alliances

  • loss of control

    • When you form the alliance…

    ...

    Assessment 1 kwangza
    Last updated: Sep 2023

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