Marketing Strategy and Programs.

Question: Discuss About the Marketing Strategy and Plan. Answer: Introduction In the modern world of business, companies often focus on developing an effecting marketing plan to ensure a profitable situation. Concerning Australia, despite being a small country, there has been an immense increment in developmental activities. In addition to concentrating on functional activities, building up new products, serving the people and increasing revenue generation, modernized firms tend to concentrate on creating a sustainable future for the nation as a whole. For this particular project, a well known organization named We Care has been taken into consideration. The company primarily aims to provide a shelter to the old and orphaned children of the nation. Being a start-up, the firm plans to build a house for the homeless and also ensure a brighter future of the young. Further, to relive the residents from the feeling of burden and dependency, the management collaborates with multinational enterprises to sponsor their events and also receive donations from all across the nation. Like any other business organization, We Care focuses on developing profits but also ensures well-fare of the people. Dealing in the event management line, supervisors also focus on providing jobs to the orphans in the company once they reach that age. Additionally, the aspect of communal welfare not only attracts the government but also private firms for arranging events on a daily basis. There has been a vast growth if immigrants in Australia, which has further lead to increase in the number of refugees, senior citizens and children in the country[3]. We Care also lends a hand towards these people, to ensure proper healthcare facilities, livelihood needs, home and more importantly a family of their own. Not only will the start-up organization be able to fill up medical but also unemployment gaps. In order to understand the development of the business, several important factors like internal study, external analysis, market research, segmentation, positioning and several other aspects have been included in the project. Further, valuable tools like SWOT, PEST and other similar types have also been used to ensure a proper development of the report. A focus on marketing mix strategies, initiatives and programs also help the managers to effectively undertake operations in the fluctuating market. Macro-environment Analysis In order to learn about the external factors that affect business development, We Care managers perform a PEST analysis. It is with help of the tool, that experts learn about eh various political, economical, social and technological characteristics f the external environment that exerts a direct pressure on the revenue generation and functionality on the firm. The several microenvironment features that affect the enterprise are the following: Political Factors The political considerations of Australia noticeably affect business of We Care. It is noted that instability in the legislation will greatly affect the firm. In order to maintain legality, managers opt to abide by the rules and regulations of the country. Managers involve in checking proper documents of refugees and senior citizens before allowing them to stay. Further, the minimum work age criteria and work permits of the residents are also checked by the firm. In addition to securing the governments view on the commercial business part, We Care also attain an authenticity license as well. Economic Factors: Being a well-developed nation, Australia provides the people with several stronghold economic elements that greatly affect We Care. In addict to a stability and organization of various events, the country provides a vast scope for growth. Elements like exchange rates, stability, expenditure pattern of the people, wealth distribution and several other inconsistent variables largely affects We Care. Moreover, external investments and fund supply of the government also plays a key role in deciding the future of the company. Social Factors The socio-cultural aspects of Australia shall highly affect growth of the firm in the nation. In addition to the peculiar perspectives of the people, the belief, views, though process and several other elements are likely to affect e care`s development. The ethnicity of the residents, disparity among domestic and children of refugees will ultimately become a topic of discrimination of the country. Business growth of We Care immensely depends on the personal aspects of the Australians[7]. In terms of commercial activities, the social and traditional features of the firm will also affect organization of events. Technological Factors Like any other company, We Care also depends on technological developments of the country. The vast range automation of services, innovation of new mechanisms, technicality advancements and several others greatly affect the business growth. Further, being a start up firm, managers greatly focus on external progressions to not only properly integrate them but also reduce their negative impacts on the firm. Activities like building of houses, initiative launch and organization of events largely depend on the technological features. A disturbance in the settled external environment structure greatly affects progression of the firm. Refer to Appendix (1) Micro-environmental Actors The internal factors in the industry will greatly affect business development of the start-up organization. In addition to analyzing the external elements, managers of We Care also tend to study the micro factors that directly or indirectly put a pressure on the performance levels[8]. Concerning competitors, the firm will be confronted with an immense degree of rivalry form various event management companies. Being a profitable sector, Australia has been a subject to more than 370 social enterprises. The newly launched business will face a strong rivalry from the well-established corporations. It is noted that with a launch and positioning of We Care in the nation, the firm will face direct competition form Event Planet, Alive Events, Verve Creative, Catalyst Solutions and many other similar types. High levels of rivalry will alsogreatly contribute towards degrading the vale chain process of the firm. Figure: Micro-environmental Actors (Source: As created by author) Further, like any other event management company, We Care also significantly depends on its suppliers. Any change in the primary section will consequently lead to an alteration in the business functionalities. There exists a high level of bargaining power of vendors in the industry. A low presence of suppliers options to choose form not only enables the existing dealers to be dominant in nature but also charge higher prices for the resources[9]. A rise in cost of goods and fluctuation in raw material collection will noticeably affect the delivery pattern of the firm thereby leading to a downfall in communication levels. Additionally, factors like power of the consumers and presence of substitute goods also have a impact on the company`s progression[10]. In addition to focussing on the developing up competencies, the management also takes a deep interest in enhancing communication and service delivery channels. As compared to the competing firms, We Care tends to maintain a active and positive relationship with the consumers to be able to provide them with their desired services. Apart from learning about the individual needs of the people, the company is likely to study their peculiar desires, arrangement wants and henceforth serve in a much better way than the rival enterprises. It is noted that We Care initially targets mid-level firms, fulfil their demands and ultimately grab multi-national contracts. Business Performance Analysis The We Care management board depends on several productive processes, dimensions, calculations, structures, systems and methods to understand and measure the achievements of the organization. In order to perform in a highly defined manner, managers tend to integrate goals and objectives in the business framework[11]. Further, it s often that the supervisors work in collaboration with experts to evaluate performances and organize a what-if action plan as well. In order to gain quantifiable knowledge concerning the company, the managers might use spreadsheets, SPSS and ad hoc tools. Moreover, experts may also undertake performance analysis in comparison to the accomplishment of competitor firms. Apart from the individual targets of the employees, a judgement of the financial, budgeting, forecasting, scheduling, score-carding, reporting and dashboard analysis is also an important concern for We Care. An implementation of strategic planning in the business also proves to be beneficial in terms of analyzing the performance levels. Moreover, the management of the firm also concentrates on emerging successful among the high level of competition. In addition to building up competitive advantage factors, developing skills (communication, delivery, finance and technical), and mitigating impact of macro elements, the managers increasingly focuses on measuring success and providing a direction to the organization. Figure: Business Performance Analysis (Source: As created by author) In order to analyze business performances, We Care highlights the following aspects: Judge Business Vitalities Core Activity Assessment: Product Development Pricing Strategies Marketing Activity After Sales Service Costing Reviews Business Efficiency Assessment: Flexibility Adaptation Premises (Houses, buildings) Commitments (Employment of residents in business) Facilities Information Technology Human Resources Employee Evaluation Financial Examination: Cash Flow Working Capital Price Base Revenue Generation Profit Margin Re-investments Growth SWOT Analysis The managers of We Care perform a SWOT analysis on the company to learn about the strengths, weaknesses, opportunities and threats. It is through a proper understanding of the various internal characteristics which allow the supervisors to build up new strategies, plans and develop capabilities. Strength: 1. Social Enterprise Recognition 2. Ensure Societal Welfare 3. Adaptability 4. Strong Communication Medium 5. Effective Distribution Channel 6. Productive Strategies 7. Proper Pricing of Goods 8. Skilled and Experienced Management Team Weakness: 1. Start-up Organization 2. Ineffective Policies 3. Non-fulfilment of Goals 4. Complex Business Framework 5. Poor Services Opportunities: 1. Lower Interest Rates 2. Governmental Preferences 3. Population Boom 4. Demand Growths 5. Economic Stabilization 6. International Expansion Scopes 7. Technological Innovations Threats: 1. High Competition Levels 2. Presence of Substitutes 3. Dominance of Existing Firms 4. Consumer Preference Fluctuation 5. Supply Disturbances Table: SWOT Analysis (Source: As created by author) Among the several strengths of We Care, being a social enterprise and focussing on benefiting the society proves to be the most efficient growth factors. Further, the presence of a highly skilled management team and taskforce also notably contributes towards developing abilities and adapting to the external changes[12]. It is noted that the business strategies of the firm not only supports pricing of the services but also lends a hand towards ensuring progress of the organization. Being confronted with a high degree of rivalry, the productive communication and distribution channel supports survival of the firm. Despite of possessing several strengths, factors like ineffective policies, un-achievement of goals and the complex business framework acts as a hurdle to the organization. Also, being recognized as a start-up organization, the customers tend to prefer professional and well-established firms for hosting their events. On the other hand, We Care receives a discounted rate of loan as compared to the other performing companies. Features like preference of the government, increase in demand, economic stabilization and technological innovations act as an opportunity to the firm[13]. Serving the old, refuges and their children being the major concern for We Care greatly adds value to its brand. While on the contrary, the high level of competition and presence of substitute goods greatly affects growth of the firm. Moreover, a dominating nature of the existing enterprises not only grab on to their customer base and determine their preferences, but also put a pressure on the start-up business. Segmentation and Target Market Analysis We Care managers breaks down the Australian market structure based upon various demographic, psychographic, geographical and behavioural aspects. Geographical Segmentation The location of refugees and senior citizen are taken into consideration in this particular section. Australia, being a comparatively small nation and well known among the immigrants, We Care is able to locate the children who have got separated from their family. Further, in terms of carrying out selling operations the managers tend to build up business in the most commercial regions. In addition to identifying the most beneficial private firms and also profit earning sectors, We Care opts to promote business in a never before manner. Demographical Segmentation Concerning the social section, the organization seeks to develop sub-sections depending upon the age, background, income generation, and expenditure pattern of the consumers. The managers primarily focuses on providing several facilities and a home to the immigrants and the deprived as well. As compared to small enterprises the medium and high level companies tend to hire an external organization for hosting their events. In terms of business, the managers develop segments mainly targeting the mid-level firms. Psychographic Segmentation Being a social enterprise, We Care mainly provides its services to the young and the old. Specifically, the people who are deprived of their basic needs are a major concern to the firm. In addition to the poor native people and refugees, Torres Islanders who cannot live on themselves are provided with urban life needs and a shelter. Moreover, the separated children are a priority to We Care. Behavioural Segmentation It is noted that the organisation involves in no behavioural discrimination while serving the deprived. On the contrary, the spending nature of the private enterprises on organizing events form the primarily concern for We Care in terms of business. Also, attitude of the medium and large scale companies are also taken into consideration while developing market segments. Target Market Analysis Like any other start-up organization, the initial targets of We Care are small and achievable in nature. Further, the management set reasonable objective in terms of serving the people and hosting events for private Australian companies. It is noted that fulfilment of the goals will not only ensure flourish of the business but also enable the newly launched firm to enlarge its targets. Over time, medium and high level enterprises will be objected for carrying out business activities. On the other hand, We Care will provide a home and various needy services to ten children and ten old aged people. Further, with an increase in capacity to serve twenty persons and achieve a profit of 20% in year one will enable the business to grow at a sustainable rate in the coming years. Marketing Objectives The objectives serve as the backbone of We Care. Not only does the aims help the taskforce to perform in an organized manner, but also lends a hand towards developing competitive advantage factors. Concerning financial areas, the managers focus on the following targets: Revenue Developments: 20% in the first year 25% in the next six months 35% in the following financial years Profit Margin Enlargements: Develop by 10% in year one Maintain a stable rate of 20% in the next years Enlarge Cash Flows Increased Return on Investments: Recover initial investment in two consecutive years Generate 25% ratio on further investment In terms of non-financial areas, the following serve as the most crucial aims of We Care: Develop Business Competencies Serve High Quality Services Integrate Differential and Individualism Strategies Ensure Stakeholder Satisfaction Enhance Public Relations Skill Development Sustainable Development It is noted that We Care tends to focus on building up S.M.A.R.T (Specific, Measurable, Actionable, Relevant, and Time-bound) objectives. In addition to analyzing the various internal and external factors that affect business growth, the supervisors opt to design objectives not only in an S.M.A.R.T manner but also in accordance to the situational analysis. Figure: SMART Objectives (Source: As created by author) Marketing Strategy and Programs In terms of developing a marketing strategy, We Care enhances on the implementation of the 4P`s theory in the business framework[21]. The aim aspects of the highly productive strategy are: Price Being a small start up business, the company sets a comparatively lower price of services as compared to the other firms in the industry. Further, with a goal to serve mid-level companies and provide a home to 20 people, the lowering price level will attract organizations to the firm. Moreover, the implementation of cost effective pricing strategy will also help in carrying out CSR and business operations in a proper way. Product Like other social enterprises, We Care also checks on responsibilities and commercial activities[22]. With an immense rise in the number of refugees and immigrants in Australia, the firm not only provides social goods and services but also hosts events for business companies. Additionally, the gap in efficiency levels to successfully conduct event management initiatives is filled up by We Care. The products may provide the enterprise with increasing revenues and a high level of popularity in a shot span of time. Place Managers in the organization tend to set up houses and business sectors in highly profitable places. The commercial business locates itself where there is a large presence of medium scale firms and builds up houses where there is an attendance of the underprivileged citizens. Further, apart from identifying people who need care, the supervisors in the initial stage are likely to choose in between refugees and natives due to poor capacities. Promotion The rise of social and digital media has been a crucial advertisement aspect for We Care. In addition to direct selling and promotions over media, electronic and print services might prove fruitful to the company. Moreover, a higher level and effective ads will also help in attracting professional assignments from large scale companies. In order to grab opportunities and increase developmental degrees, the firm tends to spread its primary aspect of helping the society. Market Positioning The poor positioning of We Care has actively acted as a hurdle to serve the CSR purposes in the nation. Being a start-up company, the firm is unable to guarantee a high quality service. However, in order to develop business performance levels the managers have opted to increasingly prioritize the aspect of quality. Moreover, with a pass of time, the management targets to ensure a higher quality of the service as the organization will fulfil its social responsibility targets. Figure: Positioning of We Care (Source: Created by author) Conclusion Analyzing the several aspects of the project it can be inferred that We Care performs as a social as well as commercial organization in Australia. It can be seen that the firm greatly serves as a noble enterprise and further provides several services, a home and more importantly a new family to the orphaned young and old citizens. Like any other company, despite of having several strengths and opportunities, We Care is confronted with numerous weaknesses and threats. Further, being confronted with a high level of competition and other issues, the start-up business greatly depends on its marketing plan and strategies. Moreover in the event management line, the firm is unable to have a kick start due to dominancy of the existing organizations. Reviewing the hurdles facing development of the business, there are certain suggestions that can be made for We Care. Firstly, the idea of implementing a cost effective policy and suing the price of service will greatly help the company to achieve targets. With a focus on mid-level enterprises, the managers should provide them with a cost benefit, which ultimately will contribute towards attracting private firms towards We Care. Secondly, a monitoring of the product and service quality is highly suggested for the firm. Concerning Australia, the people tend to ensure a value for their money. The management should be able to balance the both their social and business activity in an equivalent manner. We Care not only needs to serve the client organizations with a proper and desired event host, but also needs to ensure hygiene and healthcare to the immigrants taken into home Reflexive Activity We Care being a small start-up greatly depends on their services and the expertise level of managers in terms of carrying out business activities. It is noted that an appropriate practice of strategies and capability to maximize internal competencies will greatly help in mitigating external threats. Moreover, despite of an increased competition, presence of substitutes and several other negativities, the opportunities provide growth scopes to the firm. However, in order to undertake large scale operations, the management would require an extra cost. On the contrary, a rise in service prices will lead to a downfall of the business. Hence, the managers focus to start from a small scale and then progress towards serving large private firms. Additionally, We Care also focuses on its self-developed SMART objectives. It is important that the company object both financial and non-financial goals as well. In order rot survive in the rapidly developing country and also emerge as one of the leaders, the firm enhances on the achievement of targets. 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