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  • AMB240 Marketing Planning and Management

    QUTopia Marketing Plan

    Students:

    Brooke Moore N8807566

    Chloe Livock N8605386

    Karla Gumley N7554206

    Sophie James N8880662

    Tutor: Mr. Naseer Choudhry Tutorial: Wednesday, 5-6pm

    Word Count: 1500

  • New Breed. The Utensils of QUT QUTopia Marketing Plan | 2

    CONTENTS

    1. Executive Summary 3

    2. Situation Analysis 5

    3. Segmentation and Target Marketing 12

    6. Marketing Mix Strategies 18

    7. Budget 28

    8. Implementation Plan 30

    9. References 35

    Appendices 1: Product Checklist 37

    Appendices 2: Observations of Market 39

    Appendices D: Stall Set Up 43

  • New Breed. The Utensils of QUT QUTopia Marketing Plan | 3

    1. Executive Summary New Breed is a prestige proprietor of QUT campus guides that provide students with exclusive, insider

    information about the best coffee, snacks, events and hide outs QUT has to offer. Their guide book, The

    Utensils of QUT, differentiates itself by doing it different to your usual culturally mainstream guides.

    With a passion for crafting a unique consumer experience, New Breed revolutionises a simple book into a

    complete brand experience through its use of vivid surreal still life images, bold text and design. Each book

    is lovingly created, using only the highest quality material, professional style and environmentally friendly

    packaging.

    The Utensils of QUT was formed on the basis of a highly creative team who personally wanted to do it

    (campus life) different. Upon extensive research, the company found 182 QUTopians has need for

    exclusive campus information that combines originality and style all in one neat little package, New Breed

    found it their duty to fulfill this need. Based on the psychographic target markets of the Young Optimists

    and Socially Aware, New Breed focusses on providing new and exclusive information in a manner that is

    outside of the cultural mainstream, in a way that captivates this demographic. Packaged in a niche designed

    sleeve creates a sense of modernism for the consumer and is differentiated by a series of value add

    strategies such as free bonus coffee coupons at QUT cafes and competitions.

    In view of the political/ legal, environmental, sociocultural and technological factors, New Breed

    investigated internal strengths and weaknesses, and external opportunities and threats and discovered there

    is low competition for this product with 1 direct competitor 2 indirect, along with a relatively untapped

    market space. New Breeds marketing plan illustrates strategies to combat existing threats through robust

    promotional activities and value-add strategies. Additionally the company will leverage its strengths

    through product innovation and employee experience to effectively monopolise the market.

    Using SMART objectives based on market share, sales and customer loyalty, New Breed focuses on a

    premium positioning strategy setting their product price at Q$50/unit. Based on this pricing, it is calculated

    a break-even point of 36 units, with an estimated sales forecast of 109 units, and estimated revenue of

    Q$5450.

    In order to achieve the strategic direction of the company, New Breed has created communication synergies

    in attempt to influence target market behavior. This includes broadcasting two key messages, (1) Do it

    Different and (2) Remember The Utensils of QUT on a one-to-many basis. The stall positioning is

    advantageous with two sides of foot traffic, a strategized distribution plan and highly engaging stall plan to

  • New Breed. The Utensils of QUT QUTopia Marketing Plan | 4

    further promote the product on market days. Based on the estimated projections made by the marketing

    team, New Breed will effectively monoplise the market and achieve revenue goals.

  • New Breed. The Utensils of QUT QUTopia Marketing Plan | 5

    2. Situation Analysis

    2.1 The Market

    QUTopia has a population of 276 students, 265 of which were sampled. The mean age of students was

    20 years old, between a range of 18-45 years old. The mean disposable income of QUTopians is

    Q$262.12, and the dominant psychographics of the market are Young Optimists 55.63%, Socially

    Aware 10.15% and Something Better 10.52%. Young Optimist, the dominating psychographic are

    under the age of 25, suggesting that 55.63% of the market share are conscious of their image

    projection. They have the mind-set of wanting to experience all life has to offer and are willing to try

    new things (Roy Morgan Research, 2012).

    2.11 Market Need

    The results highlighted Young Optimists and Socially Aware as the two dominating psychographics,

    presenting a unique avenue and potential advantage for businesses. Tapping into current trends

    associated with these segments will be vital to the product development process and execution;

    therefore New Breed will target both segments. Roy Morgan Value Segments (2012) describes these

    segments as innovative, information seekers; The Utensils of QUT fulfills this need by offering

    exclusive insider information.

    Research in figure 1 depicts the Information and Media Telecommunication industry is a niche market

    with definite potential, it is small only accommodating a few businesses each year. By creating a

    product with tangible value, alongside having low direct competition can effectively monopolise the

    market.

  • New Breed. The Utensils of QUT QUTopia Marketing Plan | 6

    Figure 1: QUTopia Information Media and Telecommunications Industry Value

  • New Breed. The Utensils of QUT QUTopia Marketing Plan | 7

    2.12 Marco-environment PEST Analysis

    Figure 2: Implications for the product based on environmental trends

    Environment Trend/issues Implications for our product

    Political - MACRO

    - Australian Competition and

    Consumer Commission has outlined

    guidelines which business and

    consumers must follow regarding laws

    and rights (2015).

    - - Currently the Queensland

    government is fairly unstable

    (Remeikis 2015)

    - - Can not play music that is copyrighted

    - - ACCC guidelines must be followed, ensuring New Breed follows all consumer

    guarantees

    - - May be fined and infringements in place if the rules and regulations are not fully

    followed

    - - When Government is unstable people are less likely to purchase luxury items such

    as the New Breed guide ()

    - - Music will need to be sourced from IP

    free sources or karaoke machines

    MICRO

    - - QUTopian laws must be abided otherwise consequences may apply

    (copyright of stores information,

    playing music too loud ect)

    Economic MACRO

    - ACCC indicates all prices must

    include GST (2015)

    - Consumer confidence could be

    increasing

    - Product must include a GST inclusive

    price

    - Customers need to get value for money,

    something tangible and memorable.

    - In QUTopia with the high disposable

    income, people are more likely to

    spend more money on products

    MI MICRO

    - QUTopian dollars are not of a real

    value neither are they exchangeable.

    - Level of disposable income in

    QUTopia is high and products are sold

    at a high price point

  • New Breed. The Utensils of QUT QUTopia Marketing Plan | 8

    Socio-cultural MACRO

    - More people becoming health/

    environmentally conscious

    (Gagliardi 2015)

    - This new health trend means people will

    be more inclined to purchase our

    product and find out ho they can

    maintain their lifestyle at university. In

    addition to this, the fact that our guide

    is printed on recycled paper will be a

    positive in their minds

    Technology MACRO

    - - Social Media is becoming a popular communication platform (Sensis 2015)

    - - Many businesses use social media for advertising (Queensland Government

    2015)

    - Less people buying physical

    publications and instead opting for

    technological options instead (Stynes

    2014)

    - - In todays social media focused society it is quite easy to connect with consumers

    - - The decrease in purchases of physical publications means that some people may

    not buy this product because they dont

    want the inconvenience of carrying it

    around. In the future, to address this

    problem New Breed should consider

    making an app or virtual version of the

    guide.

    - - Due to the fact that most QUTopia promotion occurs on social media this

    means two things for New Breed

    1. That we need to have competitive

    advertising that will stand out fro

    other businesses

    2. More opportunity to reach other

    QUTopian citizens because all are on

    the same media platform.

    - - As New Breeds stall has no power, other alternatives will need to be considered

    such as battery operated appliances such

    as speakers and lights.

    MICRO

    - - Most QUTopian businesses use social media for promotion

    - - New Breed stall has no power

    2.2 The Company

    2.21 Mission Statement

    The Utensils of QUT is a curated guide that optimises student life on campus. We aim to connect

    students with the top food, drinks, events and hides outs QUT has to offer. We make recommendations

    students trust and provide a sen