ACCM6000 Capstone Assignment Report
Develop the competitor analysis as follows:
- Conduct five key forces (Porter) which impact on your industry competition.
- Perform the PEST analysis for your company and compare the differences against your two competitors.
- Conduct a benchmarking review covering internal benchmarking, external benchmarking and best-in-class benchmarking.
- Describe the threats, bargaining power and competitive rivalry.
- Prepare your statement of advice addressed to the company’s CEO on how your company differentiates itself from its competitors and what improvements can be made to your company.
After completing this Individual Assignment, you will be able to:
1) Research information about the selected companies (using multiple sources)
2) Conduct a PEST analysis
3) Benchmark your company against two of its competitors
4) Articulate and recommend courses of action to differentiate a business against its competitors
Qantas Airways is an international airline based in Australia. It is considered one of the oldest airlines. Qantas Airlines provides traveling service both domestic and international services. It focuses on the comfort and convenience of its customer. Qantas Airlines provides hotels, cars and travel facilities. It aims at flexible and safe traveling of its passengers. This essay discusses the five porter forces, pestle analysis and competitors of Qantas Airways to analyse its competitors like Singapore Airlines and Air China. Furthermore, the benchmarking review, threats, competitive rivalry and its competitive advantage are discussed.
Qantas Airways five porter forces
Porter five force analyses help the business to have a clear understanding of the competitors.
Qantas Airways five porter forces are:
1. Threats of new entrants - Qantas Airways face new competition in its market. This in turn changes the market conditions. An increase in competition affects the pricing strategy, cost and provides a new selling proposition to its passengers. Singapore Airlines and Air china are two big competitors (singaporeair.com, 2020). Singapore Airlines gives a tough competition through its quality customer experience service whereas Air china brand marketing strategy is a threat to Qantas Airways business. To survive in the competitive environment Qantas Airways need to invest in research and development to understand the competitor's activities (Bruijl, 2018).
2. Bargaining power of suppliers - The bargaining power of suppliers has a direct effect on the profit of Qantas Airways. The higher suppliers use their negotiation skills to earn huge income from airways leading to loss whereas a low supplier extracts limited money from airways leading to profit. Singapore Airlines and Air china bargaining suppliers are in dominating position so the negotiation power is less thereby making the competitors strong (Aithal, 2017).
3. Bargaining power of buyers - Customers often want maximum services at a minimum price. This affects the business of Qantas Airways in the long run. The bargaining power of its customer in its commutative industry Singapore airlines and Air china is strong as the company’s focus on providing customer oriented products and facilities to ensure growth and survival. Therefore to increase its sales it aims at increasing its customer base and focuses on innovating new products as customers bargain on the existing products so to reduce the bargaining power it continues to invest in innovation of the products.
4. Threat of substitute product - The substitute product the satisfying customer wants to retouch the profit margin for the Qantas airways business as it offers a better value proposition thereby diverting and attracting customer attention. The competitor industry Singapore Airlines and Air china products and service acts as a substitute for customer. Therefore Qantas Airways should improve its service quality, offer customer-oriented products and services and increase switching costs to attract and retain its customer.
5. Rivalry among the competitors - Qantas Airways faces intense competition in its industry from its rivalry competitors Singapore Airlines and Air China. The strategies of the competitors are stronger acting as a threat to Qantas business. This in turn forces the company to reduce its cost to retain customers thereby decreasing the profit margin. Therefore to survive in the fiercely competitive environment Qantas Airways offers differentiated products and quality services at affordable prices. It establishes collaborative relationships with its competitors to increase its market size thereby leading to the growth of the business.
Pestle analysis of Qantas Airways
Pestle analysis refers to the understanding of the external business environment.
1. Travel restrictions - During the pandemic period, the governments of different countries restricted international travel. Maintaining sanitization and social distancing measures increased the cost of business leading to loss. Singapore Airlines and Air China too had to suffer loss due to travel restriction imposed internationally.
1. Increase labor cost - As the pandemic leads to a shortage of labor in the market. This increased the labor cost thereby increasing the cost of business (Walsh et al., 2019). Singapore Airlines is able to afford high labor cost due to its fixed infrastructure .This requires one time investment thereby helps company to maintain price whereas the unemployment rate is less in china therefore Air china does not face huge increase in labor cost. Increased labor costs and shortages reduced the productivity of the business leading to loss of the Qantas Airways business.
1. Attitude - During the pandemic period the attitude of the customer and their needs and preference changed. Singapore Airlines satisfied customer wants through its innovative technology whereas Air china uses improves its product and offers variations to satisfy customer. The customer had a fear of infection so it created doubt in the minds of the customer regarding the sanitization and social distancing measures (Farah et al., 2018). This attitude and fear prevented customers from traveling leading to reduced sales of the business.
1. Innovative Technology - In today's digitized world Qantas Airways must be updated with technical innovation and use innovative technology to enhance the product and service quality for customers. Singapore Airlines is a, salient competitor due to its innovative technology whereas Air China works to improve its uses of technology to strengthen itself.
2. Cost reduction - Innovative technology helps the business to reduce its cost as it reduces the labor effort. Singapore Airlines is able to maintain its price due to fixed infrastructure and technology whereas Air China maintains its cost through its brand value.
1. Weather conditions - Qantas Airways business completely depends on the weather conditions. The bad conditions affect the business as it leads to delay in flights and thereby reduces service quality.
1. Data protection - The airline's industry needs to focus on data protection. Qantas Airways has been successful to maintain its data protection and is known for its safety thereby helping businesses to increase their customer base. Qantas Airways gains a competitive advantage over its competetor Singapore Airlines and Air China through its strong data protection strategy.
Benchmark Review of Qantas Airways
Internal benchmark refers to the internal strength of the business. Qantas Airways internal benchmark is its customer data. The Singapore Airlines benchmark review lies in its innovative customer experience whereas Air china benchmark review lies in its brand marketing. The airline has been successful in retaining its customer loyalty through its data protection and quality loyal services focusing on customer needs and preferences. It aims at the safety and comfort of its customers.
External benchmark refers to the strength of the business in its external business environment. Qantas Airways external strength lies in its technical innovation (Malhotra et al., 2021). Singapore Airlines external benchmark is its positioning strategy and brand awareness whereas Air china strength lies in its brand value. The airline continues innovation in technology to reduce its cost, design new products and thereby satisfy customer wants. Innovative technology helps to reduce costs by designing new products as the bargaining power of buyer’s decreases and increases the customer base as it helps to improve the standard of products and services.
The Best in class benchmark for assignment help refers to the strength that helps the business to increase and maintain its high performance (Islam and Mamun, 2017). Qantas Airways best in the class benchmark is its international and domestic presence. On the other the brand value of Air china and brand awareness of Singapore Airlines due to its positioning strategy is strong .Thus Qantas Airways should focus on expanding on a global level thereby increasing brand awareness. The presence and reputation of the business help the brand to maintain its quality and performance.
Threats, Bargaining Power and Competitive Rivalry
- Singapore Airlines is known for its customer experience. It keeps changing its services to act customer this acts as threat to Qantas business as it diverts customer base.
- Air china is prominent among customer due to its brand value. This helps the business to increase its market size on a global level thereby acts as threat to Qantas Airways international presence.
Bargaining power - The bargaining power of suppliers as well as customers affects the cost of Qantas Airways business. A high supplier extracts huge costs from airways thus reducing the bargaining power of business whereas a low supplier extracts reasonable costs of the business thereby increasing the bargaining power of business (Varelas and Georgopoulos, 2017). Therefore Singapore Airlines and Air china has dominant suppliers thus their bargaining power is less. This helps the competitors industry to gain competitive advantage over Qantas Airways. The short customer base reduces the bargaining power of business as the customer wants high service at minimum prices whereas a large customer base increases the bargaining power of Qantas Airways.
Competitive rivalry - Qantas Airways faces intense competition in its environment. Its biggest competitors are Singapore Airlines, and Air china. This competitor affects the pricing strategy and revenues of the business. Therefore Qantas Airways enhances its competitive strategies and strengths to survive the fierce environment.
Qantas Airways differentiates its product from its competitors through its customer data and digital innovation which gives competitive advantage.
The recommendations to improve service and profit margin are:
1. Qantas Airways should establish a large customer base and strong relations with suppliers to reduce their bargaining power (Heiets, 2021).
3. Qantas Airways should ensure the safety measures in its working environment and sort labor issues increase its labour supply and improve production.
4. The Airways should ensure safety, protection and comfort of customers to attract and retain customers thereby increasing the customer base.
In conclusion, Qantas Airways is an international airline based in Australia. It is known for its customer service. Its two big competitors are Singapore airlines and Air china. These competitors are strong due to their attractive strategy leading to success of business. These act as a threat to Qantas Airways business as there attractive strategies and competitive advantage affects the customer base of Qantas Airways. The business is successful due to its digital innovation and customer data. This helps businesses to survive a competitive environment leading to the growth and success of the business.
MBA404 Consumer Behavior and Marketing Psychology Report Sample
In this individual assessment, students will be given an opportunity to demonstrate their understanding and ability to explain consumer behavior determinants by analysing the role of perception, attitude, and motivation in consumer behavior.
To help you start all three assessments in this subject on the right track, over the first three weeks of the trimester, your workshop facilitator will engage you and the rest of the class in preliminary discussions about the product or service you would like to choose. Please pay specific attention to your workshop facilitator instructions regarding products/services that are not permissible.
By the end of week 3, you are required to submit a validation step via MyKBS, under the ‘assessments tab’ > ‘Product/Service Validation’ icon. In preparing this step, you must explain which product or service you will focus on in all three assessments, when and where you bought this product or service, and what ‘need’ and ‘want’ did your chosen product or service fulfilled. You will also need to take a selfie of yourself and your selected product or a selfie of you experiencing the chosen service and upload it in the validation step.
The validation step is worth 5% of your grade in this subject, with 0% awarded for a rejected choice, 2.5% awarded for a partially approved choice, and 5% for an approved choice in full. Please note that you will not be able to submit any other assessment in this subject until your workshop facilitator has approved your choice, so be wise and don’t be late.
Once your workshop facilitator has validated your product or service choice, you are required to prepare a 1200-word written analysis by providing the reader with an in-depth analysis of how you have moved through each of the consumer decision-making steps.
In preparing your written analysis, you will also need to identify any possible issues that may have occurred during this process. Please use ‘Workshop 2 Student Handout’ as a starting point for your analysis.
More specifically, you must:
1. Analyse the need and want that led you to purchase the chosen product or service.
2. Examine the internal and external sources of information you used to purchase the chosen product or service. Please include screenshots of external sources of information to support your analysis and indicate your awareness set at the end of this section.
3. Evaluate alternatives and narrow down the chosen product or service attributes that satisfy your need and want. Please provide a detailed evoked set diagram to present your findings.
4. Analyse available purchase methods to determine how these methods impacted your decision-making process.
5. Analyse your post-purchase behaviour by identifying the chosen product or service features that reduce your cognitive dissonance. Please note that in this step, the topic of customer satisfaction should not be considered.
The findings presented in the written analysis must be based on primary research and should be reinforced by examining relevant secondary data. You must also incorporate theories and concepts related to consumer behavior discussed in weeks 1, 2, 3 and 4. You are required to use at least 5 sources of information and reference these in accordance with the Kaplan Harvard Referencing Style. These may include websites, social media sites, industry reports, census data, journal articles, and newspaper articles. These references should be presented as in-text citations and a reference list at the end of your written analysis (not included in the word limit). Wikipedia and other ‘popular’ sites are not to be used.
The written analysis is worth 25% of your final grade for this assessment, and it will serve as the basis for the second and third assessments in this subject.
Present study contains validation steps and critical analysis of the recent purchase of goods or services founded on 5-step Consumer Decision-Making Process.
Consumer decision making procedure consists of the customer for identification of their requirements, collection of information, analysis of some alternative and then takes purchasing decision. It should be noted that, consumer behaviour is affected by economic and psychological elements and are affected through environmental elements such as social and cultural values (Panwar, et al., 2019). Customer Decision making process is applied in order to make purchase decision in context with a product or services. For assignment help, In this process one does assesses factors which influence purchase decision as well as product use. The process does have five phases i.e. need recognition, search of information, assessing alternative, purchase and post purchase behaviour. All these phases have been discussed below in context with purchase decision made in respect of Apple air pods.
Figure 1 Consumer decision making process
(Source:Lamb et al. 2016)
Need Recognition: Need occurs when a consumer has to deal with imbalance between actual desired state. Recognition of need could be in any of three forms i.e. need, want and demand. Want relates to specific requirement of product or services with satisfies a need (Bangsa&Schlegelmilch, 2020). In present case I did not have any Bluetooth system in my car and I faced issue for communicating with my boss as well as customers while driving. In accordance with Maslow Hierarchy of Needs Theory cognitive needs refer to knowledge and understanding or exploration. For instance in present case if I would have changed system of car, I would have been able to communicate easily in car only and only single objective i.e. communicating while driving would have been accomplished. However, through understanding the need appropriately I made adequate decision by selecting air pods rather than making change in system of car.
Information Research: In this process I will research about product by internal and external sources (Bettiga, &Lamberti, 2020). It can be said that, at this stage, decision process of buyer tends to be change in continuous manner because customer need gaining more and more information with respect to the product by which their requirements could be satisfied. In the same way, I also search about Air pods of Apple Company by internal as well as external sources in order to ascertain whether or not my all requirements can be fulfilled by this product. In the given case of decision of purchasing Apple Air pods, I get experience of my friend regarding the same. Since, he has been using this Air pods from previous two years, and did not have any issues till date. He said me that, quality as well as battery backup is excellent and as compared to any other brandsair pods. Further, I also watched advertisement of Apple Air pods on the YouTube, which reflects about several noise-cancelling features about the product. This advertisement clearly shows about noise cancelation differentiation feature of the product. By application of the expectancy theory, it can be said that, my behaviour of purchasing Apple Air pods is significantly pulled through expectations of gaining positive outcomes as compared to any other company’s air pods.
Figure 2 Advertisement of Air pod on You Tube
Further, I also obtained information about Air pods from company’s website, which reflects about important information that boosts my confidence in that product.
Figure 3 Apple Air pods’s features
(Source: Apple Inc. 2021)
Evaluation of alternative: At this stage of consumer decision making process, purchaser developed criteria with respect to what they desire in a product (Willman-Iivarinen, 2017). I also performed the comparison of Apple Airpods with the Samsung ear buds. Thedesign of air pods is distinct from one another. I observed that, Apple’s Air pods has an angled stem that confirms about placement and removal in easy manner, while Galaxy Buds are more compact. Further, the battery performance is also optimal in Air pods of Apple as compared to Samsung, and therefore I get attracted towards it. The reason behind the same is that, if battery backup would not be adequate then it is quite probable that, several issues would be faced by me. Additionally, Apple’s Air pods have pretty decent microphone that reproduces the human vocal frequencies in accurate manner. Apart from all these features, one of the main aspects for purchasing Apple’s Air pods is that, I am iPhone user and therefore Air pods of Apple Company would be best for me.
Figure 4: Evoked Set for chosen product: Apple AirPods
It can be accessed from above diagram that I considered Samsung Galaxy buds but as the battery performance is optimal in Air pods of Apple as compared to Samsung, and I am a iPhone user thus I did not considered any alternative. Thus, I purchase apple airpods.
Figure 5 Apple Airpods v Samsung Galaxy buds
Table 1 Comparison of Apple's Air pod with Samsung
(Source: Owen, 2021)
Purchase: At this moment, consumer has been waiting for purchase in actual manner (Yacout, &Vitell, 2018). Once, all information is collected that includes feedback from previous consumers, consumer must reach at a rational conclusion with respect to purchase of product. Since, I collected all information from external as well as internal sources also obtain the experience and feedback of friend who already using this product, I decided to buy Air pods of Apple Company. There are distinct consideration with respect to manner of purchasing the goods or services such as use of individual income, loan, credit cards,personalloans, rent agreement or lease agreement, afterpay and others.I would like to purchase Air pods by using credit card because by purchasing with the same I can avail good amount of discount as well as cash back, therefore cost of Air pods can be reduced. Even I can purchase this product by using my personal income as I have sufficient saving but by this I could not avail any benefit, therefore purchasing through credit card would be best option. Moreover, by this option, I did not pay the whole amount immediately rather than in amount should be deposited in monthly instalments, and therefore I would not face any burden of expenses by purchasing Air pods.I will buy the product in next week from Apple Store that is situated near my office area. I would purchase it by using credit card.
Post Purchase behaviour: This part of the consumer decision making process consists of the reflection from seller as well as consumer (Consumer decision making process, 2021). In this stage, several consumer faces cognitive dissonance, which is the inner tension experienced by person after understanding an inconsistency between opinion and behaviour. It should be noted that, I would not suffer from this as I am already using mobile phone of Apple Company and therefore I am quite aware about how company provides consumer services and meet its criteria. By going through the terms and conditions of Apple Air pods, I noticed that, company is providing warranty for a period of one year for Air pods and any accessories that come with them. Further, if the Air pods or charging case battery possess lesser than 80% of its original capacity then it would be replaced by company. Therefore, such warranty and guarantee provided by company assists towards reduction in the cognitive dissonance.
MBA631 Digital Marketing and Communication Report Sample
Using the same company that you were assigned with in the first assessment, individually, you are required to prepare an Integrated Digital Marketing (IDM) plan and present it as a 2000 word report. Please note that If you focus on any other company than the one your workshop facilitator provides at the beginning of this subject, your submission will receive a grade of zero.
In this assessment, students will be given the opportunity to create strategies on how to overcome risks in digital marketing and communication. There will also be an opportunity to plan, implement and evaluate digital marketing strategies as a standalone strategy and integrate with more traditional marketing strategies. In addition, students will be given an opportunity to compare e-marketing with traditional and blended methods to identify future opportunities for business growth.
Using the findings from your first assessment, you are required to review the company’s digital marketing problems by developing an Integrated Digital Marketing (IDM) plan in an attempt to solve these problems with the use of digital marketing knowledge you have learned from this subject. Your key objective is to integrate your subject knowledge by focusing on the set of digital marketing models and frameworks, strategies and tactics, to generate a personalised and successful IDM plan for your company. Your plan must attempt to raise awareness and generate interest in your company’s product/service to a target segment. You must include tools to monitor your campaign and to measure its digital impact, e.g., YouTube subscribers, Instagram likes, Facebook comments,
Twitter retweets, blog mentions, and so on. The recommendations provided should showcase your creativity while still being feasible.
a. company analysis:
Betty's burger & Concrete Co. is one of the largest burger chains in Australia. Founded by David Hales in 2014, the brand was initially inspired by the Australian burger shack of 1950s (Bettyburgers.com.au 2021). For Assignment Help With the mission to serve freshest, mouth-watering burgers in Australia, the brand has dedicated range of burger recipes to enjoy.
Strategy and operations:
Betty's burger & Concrete Co. has 36 restaurants in major cities of Australia like New South Wales, Southern Australia, Victoria and Queensland. Over the next few years, it is expected to expand its business to 150 restaurants within different cities of Australia (Bettyburgers.com.au 2021). With the in house made ice cream and name of concrete it demonstrates to its consumer that the products from Betty's burger & Concrete Co. are superior than other and has touch of home.
Industry of operation:
Burger industry is subpart of the fast food industry and over the past decade it has been mainly driven by the consumer demand for high quality burgers with fresh ingredients. In present time, post pandemic, hygiene and the safety of the foods from contamination is the major factor that drives the industry operation. It is expected that as the markets are opening up around the Australia post pandemic, it will result in better demand situation as a whole for the burger industry.
Fast food and burger shops in Australia has been facing changing consumer behaviour over the past few years. With shifting focus towards the healthier food options, burger and oil rich products are being avoided by most of the consumers. However, as per the ibisworld.com (2021), the fast food and burger market in Australia has annualised growth rate of 0.7% during 2021-2022 and the market size is expected to be $8.9 billion.
As the major competitors of the Betty's burger & Concrete Co., following names can be mentioned:
• Burger lounge
• Burger bar
• Nose express
Strengths and weakness:
As the strengths of the Betty's burger & Concrete Co., its home-made product and fresh halal products can be mentioned. All these allow the Betty's burger & Concrete Co. to capture attention of people from different religion as well as well different class. Lower pricing strategy and better service has made the brand to become where it is not (Li et al. 2021).
As the weakness it can be mentioned that the brand has lack of exposure to the market and it has limited stores which are present mainly in the large cities of Australia.
Macroenvironmental threats and opportunities:
As the major macroenvironmental threat market shocks can be mentioned. Due to the market shock, if the demand falls, business of Betty's burger & Concrete Co. is supposed to hamper (Bettyburgers.com.au 2021).
Current digital presence:
Betty's burger & Concrete Co. has digital presence through the dedicated app and social media channels in different social media platform. However, the amount of service is provided by the dedicated app is limited and it lacks tracking facilities.
b. company market strategy:
Current product offerings:
As the offered products by the Betty's burger & Concrete Co., following can be mentioned:
• Ice cream
• Soft drinks
• Thick shakes
As the target market Betty's burger & Concrete Co. considers major cities of Australia as of now. However, the brand aims to expand its business with 150 more stores spread across different cities in Australia (Assimakopoulos et al. 2017).
Betty's burger & Concrete Co. does not differentiate among the customer based on the social or economic status. However, brand charges different prices in different place based on the availability of raw materials and the cost of transportation.
The brand creates value through providing best burger in the Australian cities and through community engagement. With diverse range of employees in the workforce, the brand produces job and creates value for the society (Bettyburgers.com.au 2021).
Betty's burger & Concrete Co. places its stores in major cities of Australia. As of now, 36 restaurants in major cities of Australia like New South Wales, Southern Australia, Victoria and Queensland aids the brand to produce all the sales.
Integrated marketing strategy:
Underpinning the market audit of Betty's burger & Concrete Co., it has been observed that the brand has limited reach to consumers. Moreover, the digital marketing exposure of the brand is very low and to achieve higher exposure, the brand has now come in agreement with TripAdvisor (Bettyburgers.com.au 2021). Moreover, it has launched its dedicated mobile app for better customer reach; however, due to the shifting business scenario during Covid19 pandemic, higher online order resulted in fall in performance of the app. Integration of the digital marketing strategy with the business process of the firm is not yet fully done that has resulted in fall in the business (Grégoireet al. 2015). Following are the suggestions that can be considered to bring in change in marketing strategy for the Betty's burger & Concrete Co.
Connecting with the consumers directly through social media – Social media stage assists the business with straightforwardly interfacing with each type of worldwide crowd independent income level, age or gender. At the point when the business perceives the crowd viably it will empower them to convey more esteemed substance to them through social media. The substance is custom-made to the crowd advantages and likings, accordingly, bringing about better commitment on its page and with the general business (Quinn et al. 2016). Moreover, an immediate connection with the clients through social media will allow Betty's burger and Concrete Co. to address issues and questions rapidly. The crowd can be addressed expressly prompting more hopeful light simultaneously.
Organic content promotion through social media channel and blogs – The capacity to posting organic content over the social media platform and blogs channels gives an unimaginable benefit of online media for the business. This prompts a few chances for Betty's burger and Concrete Co. to associate with valued leads at no expense and it's the best explanation these organisations utilise online media stages (Grégoire, Salle and Tripp 2015). The stages likewise assist them with sharing pictures, recordings and stories dependent on the web-based media organisation. This is perhaps the most ideal way these organisations use the brand to the crowd to accomplish greater perceivability (Vinerean 2017).
Brand promotion using conventional media – Social media doesn't give for the time being results if the business doesn't advance themselves well. Betty's burger and Concrete Co. should continually make appealing substance to keep up to date with its adversaries and draw in with its crowd conveniently. The significant detriment of online media is tedious for the business. The showcasing and imaginative group should allot sufficient opportunity to painstakingly plan and post substance, screen them often, answer clients rapidly and measure the effect creation. For the purpose of the conventional marketing strategy, traditional print media and television ad campaign can be considered (Potvin et al. 2019). Through this mass marketing approach, the firm can reach to new customers with a grate pace.
Digital marketing plan:
To address the challenge and opportunities for the firm with the news marketing strategy, following matrix can be used:
Underpinning the strategies to overcome the threats and weakness while absorbing the strength and opportunities, following suggestion can be made that will result in changing marketing strategy for the Betty's burger & Concrete Co.:
Digital smart objectives
After performing digital audit and creating the TOWS matrix for Betty's burger & Concrete Co. two important digital marketing objectives have been created. Both are aligned to the overall strategic business objective of Betty's burger & Concrete Co.
Objective 1: To increase the social media conversion rate from 26% to 32% (20% average increase)
Objective 2: To surge the return customer visits by creating more appealing YouTube videos and add online loyalty points based on number room nights.
In order to achieve the said smart objective and implementing the strategies, firm should be considering the Search Engine Optimisation (SEO), Social media marketing, content marketing and conventional media marketing.
Use of SEO - With the help of the SEO marketing Betty's burger & Concrete Co. can develop appealing content that can aid the firm to produce higher traffic to their website through the organic search engine results. Besides, with the SEO webpage, on every search, Betty's burger & Concrete Co. can generate higher leads by ranking their page higher against each search (Baldwin et al. 2018).
Use of Social media marketing – with the social media marketing, brands has now become able to reach to netizens quite easily. As the Australia has 86.5% internet penetration rate, thus with the social media marketing via social media platforms like Facebook, Instagram, brand can promote their brands (Yao et al. 2019). Through providing quality images and value creation model, firm can provide much needed inside information to enhance consumer preference towards it.
Use of content marketing – in 21st century content is the king as it can turn the consumer behaviour. With the content via social media and conational media, Betty's burger & Concrete Co. can enhance their brand awareness. In new market, Betty's burger & Concrete Co. can consider the content marketing as it is a mass marketing mechanism at cheap cost (Seo and Park 2018).
Conventional marketing – with the help of the conventional marketing, print media and television publication will allow the Betty's burger & Concrete Co. to reach to new prospect consumers. As the Australia has 100% digital media penetration, thus conventional media will generate good response for the Betty's burger & Concrete Co (Seo and Park 2018).
Metrics and Resources Requirement
The 5M's measurements will be utilised for surveying the advanced promoting system of Betty's burger and Concrete Co. The following are the five measurements that could be applied for Betty's burger and Concrete Co.:
Labour (Human asset): This alludes to labour group utilised in carrying out the current advertising methodology or another arrangement. The group is additionally separated into more modest gatherings in executing various exercises of the arrangement. Model, one group for making on the web substance, one more to work intimately with an Ad office and the outreach group to chip away at client inquiries and securing of new possibilities and properties (Seo and Park 2018).
Materials (Product/Content): A different group is apportioned to deal with making new substance/online materials to draw client consideration. Recurrence and media of notices are concentrated completely and examined to help the general advertising technique in satisfying authoritative goals. This is a vital capacity as content goes about as an anchor to draw client's consideration and in upgrading new preliminaries/enrolments (Seo and Park 2018).
Apparatus: This signifies every one of the actual resources utilised by an association to carry out the showcasing methodology. On account of Betty's burger and Concrete Co. since the association works utilising web-based media for their item constructing exercises and client enrolments, they ought to have extremely hearty data innovation gear and servers set up. The availability speed and data transfer capacity utilised should be of a high request to empower fast slide progress speed and generally consumer loyalty (Wawrowski and Otola 2020). All specialised tangles should be every now and again checked and eliminated for ideal execution and client experience.
Time: Time is the most critical factor as the advancement/content planned should be dispatched inside the given time span to attract client's consideration and to expand booking rates, for instance, all special substance for Christmas should be arranged four to five months and should go inhabit least three months earlier.
Cash: The finishing up component of the 5M model is the money which needs to evaluate the current vital returns that Betty's burger and Concrete Co. will build through computerised advertising and make back the initial investment level that will be achieved.
Underpinning the finding of the analysis, it can be seen that Betty's burger and Concrete Co. is one of the promising burgers and fast food chain in Australia. With aim to become the largest burger chain in Australia the brand focuses on providing best quality service. The brand has vision to become the market leader in the burger food chain in Australia and eventually expand its business over the different places in the world. With core mission to serve best burger in Australia, Betty's burger & Concrete Co. aims to provide excellent service quality to its consumers. With the strategy of low pricing and better servicing, Betty's burger & Concrete Co. operates in the market with aim to become the market leader in burger industry in Australia. Due to rising concern of the population regarding weight gain and deteriorating physical condition, demand of the fast food and burger industry has not grown to a great amount during last few years. Changing consumer behaviour as well as entrance of the new brand can lead to threat for Betty's burger & Concrete Co. As the opportunity of the business, its fast ability to expand in different cities of Australia can be mentioned. As of now the brand has 36 stores across Australia and it is aimed to open 150 stores in coming year in different cities in Australia. Market trend demonstrates that the market situation is not very enticing, however, market post covid19 pandemic is expected to face moderate growth. As per the macroenvironmental analysis, it can be seen that brand has good market presence, however, social media presence as of now is limited. Betty's burger and Concrete Co. though have dedicated social media application, yet it is not suitable to comply with the required standard. As the strategic change, it has been suggested that the brand should focus on the social media content promotion SEO, and conventional media marketing.
MKT744 Assessment Global Marketing and Sales Development Report Sample
International Marketing Strategy
You will be allocated a country and an SME by your seminar tutor. You then required to conduct a business environment audit relevant to international expansion to that country. You should conduct a PESTLE analysis for your allocated country, describe and evaluate those aspects of the environment (political, legal, economic, socio-cultural, technological, and environmental) in the potential global market that are relevant to and, have implications for, developing a marketing strategy. The purpose of this evaluation is to identify potential market opportunities for the introduction of a new product/service. You will then be required to develop or select the allocated company’s product/service, with country of origin the UK, which you would consider has potential for expansion into this country, based on your PESTLE. You will then develop a global marketing strategy to that country, for your UK based product/service. This will include (although not exclusively):
Justifying the opportunity in the country for the product/service you will develop.
Provide an overview of the competitive landscape for the offering you are developing in your allocated country.
Develop and design an outline international marketing strategy. You will need to discuss the product and modifications (if any) to allow entry and market establishment, pricing decisions, effective promotional efforts to establish awareness and establish market presence, distribution choices and brand/name along with suggesting the key challenges to global expansion for the SME in this market.
You will be required to ensure that the PESTLE and international marketing
Strategy are linked to justify your decisions and choices.
The study is aiming to discuss the complexity of the business expansion in the international market. Also, the study would explain the effects of these on the decision making and the activities of the firm in order to survive and thrive in the international market in the environment of the post Brexit era. For Assignment help The researcher would discuss the paper in regards to a regional, local and international perspective. The important factors that affect the international marketing decision would be discussed in this study. Building digital competencies, as well as approach and strategical implementation regarding critical thinking approach and interpretation in respect of every type of market, is the major aim of the current study. The research would perform a PESTEL analysis along with pricing strategy and competitive strategy on the provided company, Butlers Chocolate, in the perception of global expansion in Nepal of the firm. The current study would be able to generate the skills, knowledge and expertise from the perspective of the global market as well as the global marketing strategies regarding the international expansion of any small and medium enterpirse (SME). The complexities of global marketing in the post-Brexit period would be analysed in the study through the business expansion of the given SME in the global arena. The report is going to present a clear perception of the researcher regarding the global expansion and the strategies that should be followed to thrive in the new market.
Background of the company:
Butlers Chocolate is funded in the year of 1932 by the premier family, Butlers, from Ireland. Marion Butler, the pioneer woman, established the firm in the centre of Georgian Dublin. She crafted her chocolate by hand which enrich the taste. Seamus Sorensen from Cork bought the firm in 1959. In the 1980s, the firm was renamed Butlers Irish and rebranded with Butlers Chocolate (Butlers Chocolates, 2021). The company is one of the rarest family-owned chocolate firms. The first retail shop of Butlers Chocolate café was opened at Grafton Street in Dublin in 1989. Now there are almost 24 cafes all over the country. The firm has franchises in South Asia and the Middle East. Among their servings of fine confections, chocolates and premium quality hot beverages, their Butlers Hot Chocolate is an award-winning speciality.
The company has almost 400 staff who follows a common goal of success, there are almost 60 outlets in various airports and have their shops in nearly 40 countries. They also helped to open Capuchin Centre for the homeless by raising funds in Ireland.
The PESTEL model would analyse the microenvironment for the firm as well as the impacts of the new environment regarding their strategy of market expansion in a new country.
The PESTEL model is indicating that the firm could select Nepal as a possible area of their business expansion. They have knowledge regarding the business environment and the chances of generating profit in Nepal. The market of chocolate and cocoa is enriched in Nepal as the competitors are locals as well as international. Thus, for expanding new business in Nepal, Butlers Chocolate needed to improvise to attract customers.
Justifying the opportunity for Butlers Chocolate in Nepal:
Many have no idea that a developing country like Nepal has entrepreneurs who are passionate about chocolate. They love to make chocolate as well as customise. These companies would sell their chocolate in the local tourist hotspots. Dhungel (2021) stated that some of the chocolate companies like ‘Ecstasy—Handmade with Love’ also exporting their products to different countries like India, Australia, Bangladesh, Oman, Belgium, China, Japan and Germany. The local chocolate companies of Nepal also provide the facilities of gifting their chocolate with a handwritten note for their customers.
There are many homemade chocolate factories in Nepal that are very popular in the market. The raw materials for chocolate are very available in the country which makes the cost of production very affordable. The labour market of the country is very affordable for any business authority. Though there was some political unsteadiness in the country the situation has improved for the better. The law of the country regarding conducting business has improved and the government is providing opportunities to the business owners to expand their business and generate more employment for the local people. Particularly this industry has grown in the last couple of years in the country as there are many youths who established their chocolate production business driven by their passion for chocolate as well as entrepreneurship. The new generation business personals are expanding the market more and more as they are opting to operate their business outside the border of their country. They improvising the product to attract customers and trying to be able to stand out among the crowd (Nepali chocolate sees spike in demand, 2021).
The report is discussing the new business expansion of Butler Chocolate which is a UK based family premier chocolate factory with their years' old fame and experience. The company has earned their fame in many countries now they are entering the chocolate market of Nepal. With their experience of selling their product in South Asia, the company had some primary knowledge and experience with the types of customers and markets they are going to capture. The developing countries are providing a large and evolving market that attracting business owners of different sectors from different parts of the world. As the people of this country already have knowledge of different types of chocolate, it is fathomable that they would welcome further any new rich variation of the product. The company could manufacture their product in Nepal with less cost due to the availability of raw materials and workforce. Thus it is inevitable that the discussed company has a better opportunity to enter and thrive in the new market of Nepal.
An overview of the competitive landscape for Butlers Chocolate in Nepal:
Nepal is enriched with homemade chocolate productions. In the last couple of years, many have joined the industry and grown with time and praise. There are new customer base has emerged in Nepal due to the increasing demand for the product and the chocolate factories are thriving to serve their customers (FMCG Khabar Asia, 2021). Some of them are Sarawagi group, Sweet Mart Food Pvt Ltd, Manna bakery, Cocoa chocolate industries, Chef’s bakery and confectionary, etc. all these have their product line and market as well as targeted customers in Nepal. These Nepali chocolates have become the most favourite gifts for the customers on their special days like valentines’ day, birthdays, anniversaries, mothers’ day, etc.
The Sarawagi group is one of the oldest and leading manufacturers of the chocolate industry in Nepal. They deliver their products to restaurants, bakeries, retail shops, food servicing firms, home bakers (Sarawagigroup.com. 2021). The firm has had knowledge of operating business in this industry for more than twenty years. Now they have become one of the most influencing distributer in the market.
Sweet Mart Food Pvt Ltd is another mentionable chocolate company in the FMCG industry in Nepal. In their high-quality confectioneries, chocolate is one of the popular products among their customers (Nepalyp.com. 2021). They are famous in the market for their product quality and hygienic process of production.
Manna bakery is another one that is going compete withButlers Chocolate in the market of Nepal. Though they are mostly cherished by their customers for their excellent cakes regardless of any occasion, their chocolates also capture a great share of the market in the country. The Cocoa chocolate industries is another popular name of the Nepal chocolate industry. Their quality and tasty chocolate are loved by their customers from all over the country. Chef’s bakery and confectionary manufacture exotic and delicious quality chocolates for their customers.
Thus, it could be said that Butlers Chocolate is going to face very tough competition while they would be entering the market of Nepal. The company need to plan their international marketing strategies with utmost detailing to capture the attention of the customers who are already receiving many better products from the local manufacturers (Ghauri and Cateora 2014). Along with the local products they are going to face challenges from the popular international chocolate brands.
Developing the outline of international marketing strategy for Butler Chocolate in Nepal:
International trading is increasing its importance day by day. The globalisation of consumption and production as well as the interdependence of world economics are instigating international trading. The free trading areas are providing more trading options. In this area, traders could move according to their wishes without paying any tariffs or regulations (Kenyon, Lowe and Doole 2016). After Brexit, the trading market has been expanded for UK based companies. They are expanding their business in areas like India, Russia, Brazil, China, Malaysia, Poland, etc. Rodwin et al. (2018) suggested that BRIC that are Brazil, Russia, India and China are the most growing market. Growing middle class and increased consumption are major reasons for market expansion.
Required modification of the product to enter and thrive in the new market:
The taste of different parts of the world is different. People of different countries like to eat differently. But here the discussed product is chocolate which is a favourite product for the youth mostly and it would be safe to say that due to the globalisation of the foreign products are not foreign anymore. The taste of British chocolate is smoother and richer (Honeycutt, Ford and Simintiras 2003). They have a higher level of cocoa content as well as fat. Though there are many homemade chocolates but Cadbury is one of the most favourite brands among the people of the UK.
The homemade chocolate of Nepal taste good but the limited range of their products and the quantity is becoming a challenge for the manufacturers. Thus, the imported chocolate like Dairy Milk, Kit-kat, Mars, Snickers are capturing the market in Nepal (Imported chocolates take big bite of local market, 2021). Thus, they need to modify their product accordingly so it would be able to compete with all the available chocolate brands.
Pricing strategy for the new market:
For pricing strategies, rapid penetration strategy would be best for Butler Chocolate in the new market of Nepal as it is a developing country (Liu, Zhai and Chen 2019). The price of the product would be low while the cost of promotion would be higher. As per Dmitrijevs (2020), market share is important for this strategy rather than profit. Through this strategy, the product would build a customer base by generating huge demand and developing brand loyalty. The imported chocolates are costly though it is available in the market. Thus, a low price with a quality product would build demand among the customers rapidly and assist the product to enter the competitive market and develop its own customers with moderate market share.
Effective promotion, distribution and brand name:
Promotion is important for a new product to enter and establish the brand. The market of any new product evolves around culture, economy and marketing efforts (Parente et al., 2018). To enter the market Butlers Chocolate needs to stand out among the crowd, provide free samples, target the cultural holidays along with an effective web presence. Online promotion is cost-effective and has a broader area of access. Their main focus would be e-commerce websites to reach a huge number of potential customers.
Drivers, location, production, inventory, information and transportation are the supply chain influencing factors. Online distribution is cheaper and faster than the traditional process. Though in Nepal direct distribution is frequently seen, the firm would follow both e-commerce and direct distribution involving wholesalers and retailers.
The brand is already a known one thus, there is no need to change the name. But to entice the customer of Nepal, the management could add something that would have a personal approach to the people of Nepal such as ‘Butler Chocolate- the taste of happiness’. They use healthy and eco-friendly quality products to increase the sustainability of Butlers Chocolate.
The major challenges to international expansion for the discussed SME in the chosen market:
Infrastructure and economic climate are important elements for business expansion in a new environment. The firm needs to understand the economic, social, political environment of the country to enter and establish its business there with success (GERLOFF, and REINHARD, 2018). Some of the important factors are-
• Understanding the economic environment of the country as in per capita income.
• Political stability as well as the relationship with the core country for stable business operation.
• Social and cultural aspects of the new country are also important to understand the demand of the customers as well as to develop a strong loyal customer base.
• The technological growth of the country
• Laws regarding conducting the business operation of international companies in the country as well as labour laws and other legal rules.
With all these factors expansion in the developing country in a competitive market could become very challenging. Butler Chocolate requires understanding and analyse the market of the new country. The new country is very different from the core country of the product. Without a proper business expansion strategy, the firm is going to face many challenges such as,
• The management of the firm needs to interact with new employees who would be the natives of the new country. There could be a communication gap between management and employees (Thussu, 2018).
• In developing countries, a very small percentage of the overall population would generate the highest income. This would limit the number of customers if the price is not affordable for the average people. This could affect the sustainability of the business (Leal et al., 2019). Thus, understanding the current economic status along with the potential to grow is important.
• While expanding the business, the company could face challenges regarding understanding the responsibilities and role of the company regarding the new environment (Jamali, and Karam, 2018). Understanding the corporate social responsibilities in the new country would increase the sustainability of the firm.
• Disseminated structured rural populations could not be very useful in the business operation which increase the challenges for the firm in the business expansion ( Zhang, 2016).
• The limitation in space and infrastructure along with the lack of an efficient distribution chain would create sustainable issues for the new product in the new competitive market (Leigland, 2018).
• The market of chocolate in Nepal has many companies that are popular among the people and have their own market share. Thus, entering this market a new company would face hard competitive challenges in this new environment (Kotabe, and Kothari, 2016).
The overall study is interpreting the global sales and marketing regarding the expansion of Butler Chocolate in Nepal. The PESTEL and the international marketing strategies have been used to interpret the context of global marketing regarding the post-Brexit environment. For pricing strategy, they would use a rapid penetration strategy and add a tagline, ‘Butler Chocolate- the taste of happiness’ for promotion. In a competitive market of a developing country business expansion would face many challenges, with strategic business planning which could be addressed. This report would assist the firm to make their decision with more accuracy to achieve their goals as a corporation.