Developing a Marketing Plan Issues - Example

BSBMKG609 Develop a marketing plan Name Institution Course Tutor Date I. Executive Summary. Marketing plans are very essential in all business marketing practices since they enhance the conduct of successful marketing activities, thus the growth and development of enterprises. This paper is a marketing plan for Wellington Wines for FY2016-17 aiming at having increment of sales by 15% in the Australian market. Current situation: Wellington Wines (Pty) Ltd is doing well in the sale of its products, Wellington Sauvignon Blanc - 750ml bottled wine and Wellington Chardonnay - 750ml bottled wine. Nevertheless, the comoany’s revenue is yet to hit its target and for which reason, it wishes their marketing format for more sales in FY2016-17. Objectives and issues: Wellington wines would want to have an increased sales by 15% in the next financial year in adjacent to the present 2015 sales. Target market, customer analysis and positioning: Wellington Wines targets on reaching more customers beyond the ones accessible through the independent and the supermarket chains by promoting its products to the Australian small businesses as well. Wellington Wines’ customers are individuals but targets new customers through small businesses. Its position would improve through the improvement of the brands’ awareness. Marketing strategy: Generation of excellent brand image Marketing programs: Enhancement of the marketing communication and online marketing within Australia. Financial and operational plans: Wellington Wines will plan well for its current sales revenue, $50 million (AUD) and eliminate unnecessary activities to reduce on expenses, but increase its marketing expenditure since this would help in making higher returns from its sales. Metrics and implementation control: Wellington Wines will assess its marketing budget and other budget figures on monthly basis to realize the likely changes. II. Current Situation. Wellington Wines (Pty) Ltd is doing well in the sale of its products, Wellington Sauvignon Blanc - 750ml bottled wine and Wellington Chardonnay - 750ml bottled wine. Nevertheless, its sales revenue has not reached its target and therefore wishing to improve its marketing format for more sales in FY2016-17. The single production site winery is situated at Mudgee in New South Wales, a very promising and potential region for the winery business growth. The current sale of the two branded products in the Australian market through both the independent and the supermarket chains is good. The winery has sales revenue of $50 million (AUD) for the FY 2015, average gross sales revenue per case (12 x750ml) of $120.00 (AUD), 30% average trade mark up in the supermarket sector, and 2% of sales revenue, which is allocated as Marketing budget for the current FY 2016-17. The winery’s marketing department which is mandated to do marketing, promoting, and advertising of the company’s products, is not performing as per the expectations, thus the appointment of a new marketing manager. The company applies altered advertising elements, but not efficient as per the nature of the trade condition in Australia. Besides, the customer care department is not in a position to retain all the customer information from the target chains. The winery is able to win customers’ trust through quality products and the applied marketing communications. The company through the marketing department retains information about its progress in the market as collected from the target customers. Marketing and advertisement campaigns are led through the marketing strategy of product-related emphasis. This is where the winery improves its identity by communicating with consumers about its products. The advertisements are conducted differently for each branded product. However, the target audience of the marketing practices is not well served because of poor communication in the marketing department. Wellington Wines’ major focus is on the increased sales, but fails to improve how it conducts its image-building campaign, which would have helped in attracting more customers and closely connecting with them. Therefore, the product-centred marketing strategy as used in the winery results to poor image awareness to the Australian. Additionally, the company emphasizes on informing people about its products rather than letting them know about the winery. This blocks many customers from purchasing its wine. The manner through which display of the Wellington wine’s products are displayed in the supermarket is not efficient enough to entice increased consumers. Wellington Wines focuses on marketing its products to the supermarket customers and independent consumers. However, it fails to market to the small businesses, which cover diverse Australians, especially from low and middle class. The customer bases of every brand show that Wellington is not fortunate compared to its competitors. The independent chain is performing well compared to the supermarket chain meaning that the advertisement in the supermarkets is not effectual to capture the target customers. This is because the company does not closely connect with the supermarkets’ managements to reach many consumers. The company spends a portion of its marketing revenue to ensure that some of its information is displayed on locally won clothing, thus enhancing its advertisement and brand recognition. The marketing manager has been applying skills appropriate for customer acquisition, brand awareness, and simply product sales. Local poster advertisement performs better compared to advertising through the media. Wellington Wines hardly engages in newspaper advertisement because of lack of a reliable media agency. By working over the weekend, the marketers enable the winery to communicate to its customers. However, this only aims at retaining the present consumers. Wellington Wines engages in online advertisement, but in a shallow way, therefore not reaching the web users massively. To enhance its publicizing, Wellington generates some point of sale (POS) materials such as stickers and posters. The marketing manager communicates directly with the advertising personnel who helps in conducting successful market investigations. Through the marketing study, it becomes probable for the customers to give opinion concerning the Wellington’s products, and thus allowing the winery to recognize the impression of its advertisements. Wellington Wines interact with the Australian wine sellers who record customers’ comments and this allows the company to respond to the raised concerns. The independent chain’s response marketing focuses only on the individual consumers. However, the attitude to the non-customers is unsuccessful. This is because Wellington Wines focus majorly on its existing customers and not much effort to attracting new consumers. Besides, the winery has limited budget for the marketing activities meaning that market research is not effectually done within Australia. The company aims at increasing its sales by 15% specifically in the Australian market. But, customers find Wellington Wines not operative in the conception of the brand awareness in the market because of its poor mental availability. The winery’s brand image was similarly found to be unfortunate in the financial base. People, especially the non-consumers of Wellington’s products prefer other brands for the brand is not well promoted and numerous people are unfamiliar with it. Its colour recognition in the population needs more improvement. Winning customers’ trust is a major objective in the company, but this seems not to be working because only few customers have trust in the winery and very minimal trust from non-customers therefore the company’s image is not well appealing to them. Customers’ satisfaction in high, meaning that; Wellington Wines’ customers like its products. Furthermore, customer attainment is not successful given that the advertisements aim at reaching new customers rather than improving its image and awareness. III. Objectives and Issues. Having an increased sales by 15% in the next financial year in adjacent to the current 2015 sales, which is $50 million (AUD). Running a good image crusade Attracting new customers especially in the Australian market Having a middling number of product holdings for each independent and supermarket customer alongside a definite penetration levels of the key products in its customer base Advancing the winery’s online and media promotion of the brands in order to influence many prospective consumers The company’s objectives focus on enhancing its value-added enactment and attracting other customers to its products. Moreover, the objectives are grounded on the notion that the marketing department will advance its operations. It is anticipated that the Australian market stays on growing with time. IV. Target Market, Customer Analysis and Positioning. Wellington wines’ customers are independent and supermarket customers. The market segments served by the winery comprise of the middle and high-class people. Additionally, the winery focuses on the wine users or drinkers irrespective of age and ethnicity. The winery targets on the segment groups as its consumers for the manufactured and sold products. The bank targets on widening its market chains and include the small businesses, which would enhance in reaching the low-class customers for its products. The target for the low class market is aimed at assisting the company to improve its customer base. Wellington Wines targets on increasing its Australian customers, therefore mainly focuses on serving the domestic markets. However, Wellington Wines is not proficiently positioned in the Australian wine market because of the status of competition and nature of its marketing operations. Nonetheless, Wellington Wines focuses on cultivating its brand image, which will enhance the acquisition of the target sales. V. Marketing Strategy. In order to engage in successful marketing activities, the marketing manager will need to focus in the provision of training to the department’s staff members. Such a training should emphasize on the means of creating awareness of the winery’s survival and methods of promoting its products not only to the existing customers, but also attract new customers. Wellington Wines will engage in vigorous market investigation and work towards the creation of an upright brand image to all Australians irrespective of class. Additionally, the company will put more attention on advertising through posters and stickers in order to attract some new customers who would as well purchase more wine products. Wellington Wines will also consider involving its customers in its production activities by considering their comments and concerns regarding the brands. Further, in order to cover more advertisement sites online and field campaigns, the winery will devote more money to the marketing activities. Last but not least, the company will improve on how its information appears on clothing and local small businesses such as bars and restaurants. VI. Marketing Programs. Marketing activities will be conducted through a plan. First, there will be the provision of training to the marketing staff. Also, the marketing manager will determine the specific brand that is capable of attracting increased customers and allowing the rise of sales. Additionally, the marketing department will need to increase its spending on media marketing practices and other marketing activities. Marketing communication will as well need to be enhanced. This will be possible through direct online connection with the target customers. Products’ launching will need to be done through online, field presentation and through the media. The winery will likewise put more determination in humanizing its brand image. The company will focus on word of mouth advertisement as well, because it is resourceful. Generally, the marketing practices will need to focus on digital advertising. Milestone Time Staff training Two weeks Budgeting for marketing activities One week Media and internet campaign Six months Product launching Three weeks Field advertisement Two weeks VII. Financial and Operational Plans The marketing finance will be increased in order to cover wider marketing platforms and apply the set strategies. More money will be allocated to the activities aimed at improving the client’s knowledge concerning the Wellington Wines and the existence of its products to new customers. Therefore, more customers will be acquired and retained in the market. The field advertisement will enhance acquisition of new customers, thus leading to the increment of sales revenue despite the rise in the marketing costs. This is because it is inevitable to spend on marketing which would therefore culminate to growth of the customer base as well as increase the number of sales in the Australian market. By conducting adverse marketing, this helps the company to cut down its marketing expenditure. Nevertheless, the prices of the two brands might remain the same because of increased sales even if marketing expenditure will rise. This would be a very good opportunity for the company to increase the amount of its products in order to make higher returns from the sales. Marketing practices will be conducted regularly in order to capture the potential customers in every season. The regular examination of the market’s nature would help Wellington Wines to achieve its target sales. This would also help Bulla to achieve some market growth, market share or brand loyalty or brand awareness or profitability in the market and target sales. VIII. Metrics and Implementation Control The plan’s development will be acknowledged through the enhancement of the marketing performance in the winery especially on the marketing budget. The budget figures will be viewed monthly. Therefore calling for the indispensable changes to be directed after every evaluation practice through the clarifications received from the appraising panel. There will be the assessment of possible changes in sales level, which will be done on a monthly basis. Therefore, this will involve the assessment of the practices conducted to the company’s budget improvement. Conclusion Marketing plan is vital for the improved enactment of every business. Wellington Wines has been performing well in its sales, but requires a major improvement of its marketing practices in order to increase on its sale’s level. Wellington Wines’ marketing strategies, objectives, program, and budget will boost the achievement of the shareholders’ concern. The winery has been focusing mainly on retaining the existing customers, but plans to extend to new customers through including small business chain in its sales. Field, online, as well as media advertisements are other plans that will help in attaining the sales’ target. References Wellington Wines. Retrieved from, https://www.wellingtonwines.com/ accessed on 18th February 2017 Read More