Crosby Et Al 2

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Information about Crosby Et Al 2
Education

Published on July 5, 2009

Author: paulmcleay

Source: slideshare.net

Description

MBA Marketing assignment

A Subsidiary of the Qantas Group

Product Nature & Orientation Where are we now? • QC offers a Good to the market / airline industry • Can be seen as offering a Component Part for its B2B customers. • Displays a Production Orientation as a mass manufacturer of low cost pre- packed food

Product Life Cycle Maturity Sales & Profits Growth Introduction Decline Product Development Sales Profits Time

Strategies for Profit Improvement Profit improvement Productivity Productivity improvement improvement Market Market Product Change Existing penetration development development asset base assets Take Improve Improve Increase New Convert Existing New Cost Increase competitors’ asset product usage segments non-users markets markets reduction price customers utilisation sales (experience mix and (margins) efficiency) Growth focus Cash and margin focus Investment Divestment • innovation • redeployment of • diversification capital resources Cash utilisation focus Source: Marketing (5th Edition), Kotler Brown Adam Armstrong

Ansoff Matrix (Marketing Strategies) Market driven Product driven Existing Markets New Products Market penetration Product Development Existing • We can achieve 100% of the • Up selling – Business Class food to Economy Markets Australian airline food market by class. buying our competitors. • New products – blankets, cushions, toiletries. Market development Product diversification • Selling existing product (pre-packaged • Mobile phones, in-air gaming, high end New Markets meals) through retail outlets. entertainment. • Consultancy in Food service standards and Quality Assurance.

(Get) S.M.A.R.T. test Objectives: To secure 20% share of the pre-packaged frozen food market within 3 years through building brand equity of Q Perry within targeted segment(s) (10% (12 months), 15% (24 months), 20% (36 months)).  Specific  Motivating/Measurable  Actionable/Achievable  Relevant  Time Bound

Strategies for Profit Improvement Profit improvement Productivity Productivity improvement improvement Market Market Product Change Existing penetration development development asset base assets Take Improve Improve Increase New Convert Existing New Cost Increase competitors’ asset product usage segments non-users markets markets reduction price customers utilisation sales (experience mix and (margins) efficiency) Growth focus Cash and margin focus Investment Divestment • innovation • redeployment of • diversification capital resources Cash utilisation focus Source: Marketing (5th Edition), Kotler Brown Adam Armstrong

ISSUE 2 Segmentation, Targeting and Positioning

Effect of existing “airline food” and proposed “retail” strategies on elements of marketing strategy Context Product Company Price Customers Place Competitors Promotion Collaborators

Market research • Primary research - involves collecting data first hand. • Secondary research - involves collecting data which already exists. This information is obtained to define the market for the product as well as to determine the needs of potential ‘market segment(s)’.

Segmentation (“retail strategy”) Objective: To secure 20% share of the pre-packaged frozen food market within 3 years through building brand equity of Q Perry within targeted segment(s) (10% (12 months), 15% (24 months), 20% (36 months)). Segments identification process Total market Segment dimensions Segment profiling Segment attractiveness  Homogenity/heterogenity  Identifiable/accesible  Measurable  Differentiable  Sustainable  Actionable

Segmentation (“retail strategy”) – Q Catering Geographic Region Australia, Asia City Sydney, Melbourne, Adelaide, Perth, Brisbane Density Urban, Suburban Demographic Age 18-25, 26-35, 36-49 Family Size 1, 2, 3+ Family life cycle Single, Married (no-kids), Married (kids) Gender Male, Female Income (annually) $20,000- $39,999, $40,000 - $69,999, $70,000+ Occupation Professional, student, technical, clerical Psychographic Lifestyle Longhairs, workaholic Values Family oriented, materialism Behavioural Benefits sought Convenience, quality, value User status Nonuser, ex-user, potential user, first time user

Product Diffusion Consumers can be grouped according to how quickly they adopt a new product. Late Majority 34% Early Majority 34% Early Laggards Adopters 16% 13.5% Innovators 2.5% Time New Product Diffusion Curve

Targeting - strategic decisions Pursue the segment Develop a new product or with a current product service offer which meets or service offer the needs of the segment Not to pursue the segment at all

GE Matrix - identifying target segments Business position and its ability to compete Strong Average Weak High Market attractiveness invest/grow selective investment Medium harvest/divest Low

Targeting (“retail strategy”) Geographic Region Australia Objective City Sydney Density Urban To secure 20% share of Demographic the pre-packaged Age 26-35, 36-49 frozen food market Family Size 1, 2 within 3 years through Family life cycle Single, Married (no-kids) Gender Male, Female building brand equity of Income (annually) $40,000 - $69,999, $70,000+ Q Perry within targeted Occupation Professional segment(s) (10% (12 Psychographic months), 15% (24 Lifestyle Workaholic months), 20% (36 Values Materialism months)). Behavioural Benefits sought Convenience, quality User status First time user

Perceptual mapping Price Quality

Positioning (“retail strategy”) Objective: To secure 20% share of the pre-packaged frozen food market within 3 years through building brand equity of Q Perry within targeted segment(s) (10% (12 months), 15% (24 months), 20% (36 months)). Positioning Tasks Value Proposition • Identifying a competitive advantage • High quality frozen pre-cooked meals for people “on the go”. Marketing Mix • Selecting the right competitive • Product: high quality frozen pre-cooked meals advantages to promote as the value proposition • Price: premium • Communicating and delivering • Place: supermarkets and boutique delis the chosen position to the target customers • Promotion: packaging, advertising and sales promotions

ISSUE 3 Implementation, Coordination & Control

Buyer decision model Post purchase behaviour Purchase decision Evaluation of alternatives Information Search Need Recognition Adapted from Kotler (2000) pp.203-205

Roles in the consumer buying process Initiator User Buying Decision Influencer Buyer Decider Adapted from Kotler et al (2001) p.127

Implementing an Integrated Marketing Communication (IMC) Plan Identify target consumers Determine the response sought for the message Generate message content Select Channel of Communication Select Message source Evaluate promotional campaign (Kotler et al 2004 pp. 613-619, as cited in Marketing Management course material)

Channel structure Indirect Retailers Consumers Company

Selecting and Implementing Appropriate Distribution Channels • Channel ownership impossible, hence the use of a conventional distribution channel • A horizontal marketing system can be used to reach some retailers. • Selective distribution via cluster ranging • Dependence on a small number of very large retailers a risk (co-operation/ competition trade off)

Implementation/Co-ordination Summary Ownership of Marketing Plan • Action plan • Champion and owner • Compensation and Reward • Management and Reward Support for the Marketing Plan • Resource allocation • Skills development • Communication • Time Adaptability of Marketing Plan • Continuous improvement • Feedback Metrics • Persistence • Adaptive Roll-Out Adapted from Best 2005, as used in Marketing Management course notes

Sample Action Plan Objective Respons Action Timeframe ibility 1 Conduct Simulated Test Market to test OK Generation of appropriate data One month product concepts. to amend Mktg plan if appropriate. 2 Approach key prospective retail partners JH Engagement and follow up One month to gauge interest in ranging the Q leads generated Catering product. Itemise potential roadblocks to acceptance, feedback on reaction to product concept. 3 Recruit appropriately experienced and PM Commencement Three months qualified personnel to manage the distribution channel relationship with retail partners. 4 Schedule monthly progress update SC Clear communication of all Monthly involving all key internal progress, roadblocks and stakeholders/project responses to unforeseen events champions/ownership team 5 Brief agency on creative requirements for AF Receipt of draft concepts Four months advertising support using IMC.

Control Quantitative Short-term Measurement Achieving specific and Evaluation and broad goals Qualitative Long-Term Approach Persistent Adaptable

Quantitative Measure of Analysis to Plan Actual Deviation Performance demonstrate (example only) (example only) (example only) 1. MARKETING Reporting Monthly Reporting Annual Report Monthly = Options (Internal) (External) Annual = Result Market Share Primary Research To secure 20% share of EG AC Nielsen the pre-packaged frozen food market within 3 years…. Brand Equity Primary Research …through building brand EG CRM Data equity of Q Perry within targeted segment(s) 2. FINANCIAL Reporting Monthly Reporting Annual Report Monthly = Options (Internal) (External) Annual = Result Sales Primary Research FY0809 FY0708 20% EG Staff & CRM A$Y.Y m A$X.X m Vs Budget Primary Research FY0809 (M’gmt Accounts) A$Y.Y m Vs Last Year Primary Research FY0708 (M’gmt Accounts) A$X.X m Operating Profit Primary Research A B C (M’gmt Accounts)

Qualitative Market Intelligence • Supplier information • Retailer information • Competitor information Market Research • Awareness • Satisfaction / Loyalty Internal Information • General Feedback (sales staff etc) • Market Share • Commentary (management accounts etc) • CRM Gaining “powerful insights”. Kotler (04), U4.7

Flexibility …against Threats, as demonstrated in SWOT: Adaptable Persistence Marketing Factors change in Context Customers Financial Factors change Company Collaborators

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