Advanced Diploma of Business

Develop Marketing Strategies

Organisational Overview

The organization Houzit Pty Ltd. is a chain of homeware store that are associated specially with the selling of the bathroom and bedroom fitting, decorative items and mirror so that the living place can be made better[1]. It has 15 stores in Brisbane area and 150 staff members operate the business across the concerned place. Moreover, all the 15 stores are directly linked with the headquarter present in Milton, Australia. This section will illustrate the strategic representation of the organization along with its importance and tactics that enhances their productivity and profitability.

Strategic Direction and Organizational Overview

The strategic direction of the Houzit can be well explained in accordance with the Houzit’s vision and mission statement that is to be the national brand by providing unique and best products to their loyal customers. In addition to that, they also intend to focus on their three parameters- Quality, Unique items and Selection of the raw products so that they can expand their business to 15 stores to 100 stores till 2020. Thus, it is important to interlink the marketing strategies with the organizational goals for the most effective outcome. Moreover, finding correct market direction and develop a clear vision thus, enhance the competitive advantage, which ensure their sustainability in the market[2].

Market position of the Organization

The homeware manufacturing organization already serves their services from the last five years and in recent times they expected their organization to grow to such an extent that 1 out of 3 can be aware of their brand. Their present store is 1000-1500 m² long and they have their marketing share according to their sale illustrated in the case study:

• Bedroom furnishing: 35%
• Lighting Fixtures: 15%
• Bathroom Fittings: 30%
• Mirrors and decorative items: 20%

Gap Between the Objectives and Capabilities

The Houzit Pty Ltd intends to grow their business; however, they do not have sufficient employee to work together for achieving the organizational goal. Thus, there is a gap for the in the objective and their current capabilities. Moreover, from the case study to is also not defines with which associations or organization, the Houzit will be associated to expand their business and whether they follow all the legislations and the lawful norms. This is one of the most crucial gaps that need to be overcome.

Opportunities

Marketing Opportunities in Accordance with the Marketing Strategies

Joint venture

Target market signifies the market segments that are more preferable and favourable for the sale of their manufactured products[3]. Thus, they can target sophisticated people, who are more concerned about the presentation of their room and the local stores who are associated with the business of selling of home decorative products[4]. Moreover, they should also target the renovators or the contactors and associated with renowned organizations like Highgrove Bathrooms, Sink and Bathroom Shop and others for better recognition of their brand. They can also target the youngsters as they are more attracted towards the attractive looks of the homewares. The risk involves in this scenario is the diverse organizational culture and the unequal profit share that may lead to the conflicts between the partner associations and the lack of experience of the youngsters in selection of the good products ad brands[5].

Sales Opportunities Outside the Target Area- Franchising

 In this context, it can be stated that sales opportunity can be enhanced if the concerned organization can provide a wide variety of homeware products at an affordable cost so that every potential group can be targeted effectively[6]. In addition to that, taking care of their current demand will also play a crucial in expanding their sales opportunity in greater Brisbane. The advantage is that their business will grow but on the other hand, the unstable political condition, the legislation proposed by the governing authorities and sufficient monetary fund will be a great difficulty to overcome.

Recommendation for the Concerned Opportunity

Improved Marketing Mix Strategy

This comprises of four major factors- Price, Products Promotion, and Place. The concerned organization should provide a wide variety of premium quality products at an affordable cost so that huge customers get attracted[7]. They can target the conventional promotion media like newspapers and television and modern media like social networking sites or a Facebook fan Page.

Alignment with the Organizational Goals

Marketing mix strategies to only ensure that more local people will purchase their products and their brand loyalty will improve. Moreover, from the promotional strategies it can be assured that can more people will aware of the brand outside the Brisbane thus may increase ye goal for increasing the 10,000 customers to 15,000.

Value Chain Analysis

This relies on factors like firm’s infrastructure, HR management, their technology and procurement. According to the case study, the firm is expanding and the HR also takes initiatives to welcome the diversified employee that not only ensures the retention of their employee but also their customers that helps them to obtain the organizational objectives[8]. Modern technologies are implemented for customized products.

Marketing Performance Metrics

Customer acquisition cost, average lead close rate, referral rate and website visit can be some marketing performance metrics for the benefit of the organization[9]. In the first case, the total spending on marketing and sales can be evaluated for their marketing mix strategies thus fulfil the organizational objectives. In the second case, the company should analysed with this value is low or high and of it is high then it is the time to change the existing organizational culture[10]. Referral rate will be enhanced if more customers will get satisfied with the homeware Houzit manufactures and they can also regular check the review provided by their customers and their evolving demands so that more products can be designed.

Tactics

Necessary Tactics

Table 1: Tactics for achieving organizational goals

(Created by Author)

Legal and Ethical Requirements

Houzit Pty. Ltd. must obey the legislation formulated by the Australian Government for fair business and competitive operating environment that is Competition and Consumer Act 2010[11]. The Act also sets out consumers’ rights and responsibilities and considers the advertisement and fair marketing strategies. This company also follow the Australian Consumer Law (ACL), which ensures the consumer rights when buying goods and services[12]. They should also follow the sustainability issue by using all the eco-friendly products so that the sustainability of the environment can be maintained. Moreover, they should also emphasize on the recycling and reusing procedure so that the natural and the forest resources can be less used[13]. In addition to that, direct marketing code of practice should also be followed which comprises of provision of accurate information of the purchased goods by not making any false or misleading claims[14]. The code of practice also illustrates that the location address has to be clearly mentioned in the bills and no misleading endorsements by other people shall be entertained by the customers.

Relation with the Organizational Resources and Capabilities

All the mentioned legislations and the performance metrics ensures that the Houzit should follow an ethical guideline for expanding their business and operate their business not only for satisfying their customer’s demands but also for the growth of their company in the greater Brisbane. It should also be followed by the concerned organization that, in case when their supplier and employee do not follow the ethical consideration of the for business trade they should be punishable with the penalties like compensation to the organization. Moreover, Houzit should take initiatives for providing training to their employees so that they can work efficiently for achieving the targeted goals and objectives of the organization.

Project Plan

Procedure

Executive Summary

In this section, the marketing plan and the strategies that is assessed in the task 1 will be represented that is to expand their business in greater Brisbane and associating with other local and renowned bathroom fitting products organization so that people can know their brand more and they can fulfil their objective where 1 out of 3 should know about Houzit and their products.

Swot Analysis

Table 2: SWOT Analysis of selected objectives

(Source: Created by Author)

Marketing Objectives

The Marketing objective is to make people aware of the company’s profile and aims to increase the count of their loyal customers 10,000 to 15,000. Another objective is the expansion of their business and increases their stores from 15 to 100 and expands their reach to Greater Brisbane.

Strategies

Some of the selected strategies applied by Houzit should be- Effective promotions of the brand, focus on customized decorative products and Customer loyalty programs so that they can purchase premium quality of products through attractive discounts.

Implementation

Effective promotion can be accomplished by successful partnership with newspaper and television advertisement agents and IT professional for online promotion. The customization of the products can be achieved through investing more in the R&D departments and consulting with the professionals and skilled worker in the same field. This can also be done through conducting a survey directly from the customers so that their exact demands can be evaluated. Lastly, loyalty programs can be accomplished by providing discount on their first buy, discount coupon or loyalty cards to regular customers.

Marketing Plan

Table 3: Marketing plan

(Source: Created by Author)

Reference List

Bengtsson, M. and M. Johansson, “Managing Coopetition To Create Opportunities For Small Firms” (2012) 32 International Small Business Journal

Competition And Consumer Act 2010 (2016) Legislation.gov.au https://www.legislation.gov.au/Details/C2011C00003

David, Meredith E. and Fred R. David, “Are Key Marketing Topics Adequately Covered In Strategic Management?” [2016] Journal of Strategic Marketing

Dubey, Rita, “An Integrated Framework Of Joint Venture Success” (2016) 5 IJSBA

Foxall, G. 2014. Corporate Innovation (RLE Marketing): Marketing and Strategy. Routledge.

Hollensen, S (2015) Marketing management: A relationship approach.

Kotler, P et al, “Marketing” (2015) Marketing

Rita Dubey, “An Integrated Framework Of Joint Venture Success” (2016) 5 IJSBA.

Savino, Matteo M., Riccardo Manzini and Antonio Mazza, “Environmental And Economic Assessment Of Fresh Fruit Supply Chain Through Value Chain Analysis. A Case Study In Chestnuts Industry” (2013) 26 Production Planning & Control

The Australian Consumer Law – Australian Consumer Law (2016) Consumerlaw.gov.au

Thorleuchter, Dirk, Dirk Van den Poel and Anita Prinzie, “Analyzing Existing Customers’ Websites To Improve The Customer Acquisition Process As Well As The Profitability Prediction In B-To-B Marketing” (2012) 39 Expert Systems with Applications

Van Holde, Stephen E., “Dauvergne, Peter, And Jane Lister. 2013. Eco-Business: A Big-Brand Takeover Of Sustainability . Cambridge, MA: The MIT Press.” (2015) 15 Global Environmental Politics

Webber, Richard, “The Evolution Of Direct, Data And Digital Marketing” (2013) 14 J Direct Data Digit Mark Pract

Wu, Jintao et al, “Exploring The Effectiveness Of Consumer Creativity In Online Marketing Communications” (2015) 49 European Journal of Marketing

Yang, Chang-Gyu et al, “Marketing Strategy On S-Commerce Based Upon Marketing Mix” (2014) 1 MR.

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