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MKT304 Strategic Marketing Plan--Smiggle Table of Contents Introduction3 Overview3 Competitor Analysis3 Strengths and weaknesses of these competitors4 SWOT Analysis5 Opportunities and threats that exist for this brand5 Marketing Strategy6 Targeting and Positioning7 Marketing Objectives (SMART)7 Marketing plan will achieve these objectives8 Conclusion9 References10 Introduction: Smiggle is an Australian international stationery company founded in 2003. The company offers customers a range of unique stationery and colour products that offer market alternatives and distinctive products (SMIGGLE, 2012). To continue selling their products and making a profit, Smiggle needs to be involved in the marketing process in order to focus on their products and generate sales. This makes marketing an important tool for business. Acting as a customer’s voice marketer can allow companies to understand the needs of the market. In this way, marketing is significantly related to customer value because the organization needs to find a sense of needs or expectations within the customer. Overview: Smiggle is an Australian international stationery company founded in 2003. The company offers customers a range of unique stationery and colour products that offer market alternatives and distinctive products. To continue selling their products and making a profit, Smiggle needs to be involved in the marketing process in order to focus on their products and generate sales. This makes marketing an important tool for business. Acting as a customer’s voice marketer can allow companies to understand the needs of the market. In this way, marketing is fully dependent on the value of the customers because the organization needs to find a sense of need or desire within the customer and then if they want to continue their business, they need to create products that meet the demand (Wood, 2018). Report overview: Australia is an international region that is open to all foreign investors; these countries promise lower tax costs and fewer barriers to entry. Sydney and Melbourne both places are selected because they are the most populous centers in Australia. In addition, the attitude of Australians towards fashion, well-designed and creative things is not in line with the culture of our company. The Smiggle brand is positioned as a colorful stationery fashion brand and its products are positioned with high quality and high prices. It differs through design in that it is a unique way of life that combines education and entertainment (Riley, 2017). Smiggle plan to have sales of more than $ 1 billion by the end of 2020. Smiggle expect to open about 26 to 36 stores in 3 stores in the coming years, with a market part of more than 16%. Smiggle adopt different marketing policies to achieve market goals. Smiggle products are first exported from Australia to ensure the same quality with Australia. A monitoring system will also be introduced to achieve the process of the marketing goals. Competitor Analysis: Top 5 Competitor: 1. The Dandelion Patch 2. Ecojot 3. Saahas Zero Waste 4. Idea Chic Companies 5. Lunchboxes.com In the last five years, fierce external competition has threatened the stationery retail industry. More and more retailers outside the industry are selling stationery, including online retailers, making it difficult for the industry to survive in the long run (SMIGGLE, 2020). As consumers and businesses connect more and more through the Internet, Australia is moving toward a digital economy, further limiting the sector's growth. The stationery panel industry is expected to decline further over the next five years. As online communication becomes more popular, the demand for pen and paper is expected to decrease (Wood, 2018). It is expected that in this period of intense competition will lead to a decrease in the profitability of the industry. Increased competition can also lead to the disappearance of small independent players. Many small independent stores cannot compete with the larger national chains and central youth stores or advanced fashion stationery stores that offer fashion products (Wood, 2018). Strengths and Weaknesses of Competitors: For the Strengths, here are few list below: 1. Extensive network 2. International brand 3. Network capacity 4. Strong brand name 5. Good coverage 6. Speed For the Weaknesses, they have: 1. Less known in the culture 2. Foreign brand 3. Rising prices 4. High tax rates 5. Competition SWOT Analysis: Here is a table i have conclude from the research: Strength 1. Smiggle has the unique advantage of brand ownership 2. Compared to competitors, the Smiggle design is more colorful, creative and fashionable (Alfanda & Suhartanti, 2018). 3. Reasonable price and high quality 4. People use Smiggle as a pioneer of well-designed stationery for teenagers 5. Continue to introduce new products to the market Weakness 1. All of the products are not recyclable, which is not environmentally friendly enough 2. The costs of creating new products increase the expenses 3. Kids’ partialities towards the stationery keep changing(Wood, 2018) Opportunities 1. The stationery market is still growing 2. As a pioneer, Smiggle will spread to Australia, which will bring more benefits than its successors. 3. Make a strong impression on the customers, which can lead to brand loyalty (Campbell, 2019). Threats 1. Pay attention to the tendency to protect the environment 2. With the development of technology and the popularity of laptops and notebooks, students might allow taking homework also take online exams instead of writing on paper (Alfanda & Suhartanti, 2018). Opportunities and Threats: Opportunities: As a pioneer of stationery companies that target teens entering Australia, Smiggle has more time to improve its products and services. Threat: Farmers can learn from Smiggle to reduce risk and avoid mistakes, which can lead to price competition. Marketing Strategy: Ansoff Matrix Market Penetration The company is a retail supermarket and a retail company should be able to succeed without entering the current market (CAPSIM, 2020). Market authority helps companies find customers at no cost or at no extra cost. It is also important to understand that market penetration leads a company to success. Without the introduction of new products, the company's market share in its current position is 1.4%. Market development The company now has more than 900 retail stores in various locations of its existence. Companies like Smiggle need to keep expanding geographically because grocery retail products are usually less attractive and customers want to buy from nearby supermarkets. That’s why Smiggle has grown so fast and the company has captured 80% of the Australian retail market(Bordean et al. 2010). Product development The company did not stop there, but they offered more production plans. When the company started offering organic food products for the health of the customers, one of the main developments of the product was organic products. The company presents it as a supermarket with a large number of organic products, which contributes to the formation of a good image of the company (Riley, 2017). Diversification The company has turned its business into financial services and insurance. To ensure the sustainability of the Smiggle Group through the development of a completely different business, in the event of a decline in retail supermarket sales, the business will not be affected. Starting this business is also beneficial for Smiggle Supermarket as it has helped the company to receive financial services from other business sectors with higher efficiency. Smiggle developed these four development strategies that set the company on the path to success and growth, which allowed supermarkets to acquire and maintain 80% of Australian supermarkets (Viltard, 2017). Porter’s strategy Cost management strategy: This policy allows Smiggle to expand the market share through the middle-class target, which makes up a large part of the overall structure of the customer market in most regions. Middle-class customers usually place great emphasis on pricing aspects, and cost management is the policy to meet the requirements of this market segment (Koroleva, 2017). Differentiation strategy: Smiggle’s strategic goal of using this strategy is to make a difference through embedded innovations and address the growing consumer health challenges. For example, after exploring the changing interests of consumers, Smiggle have expanded its product range to distinguish it from the competitors also expanded the range of opportunities within the industry (Viltard, 2017). Intensive development strategy: An intensive development strategy involves the progress of new products or markets to achieve a company’s development goals. Transnational companies like Smiggle are considering adopting these policies to understand how to expand their customer base through market development. Targeting and Positioning: Target markets The selection of the target audience is based on factors such as demographics and questionnaires, such as specific demographic requirements and products within the community, taken from customer surveys. Another strategy adopted in a marketing plan can be to engage customers through the use of brands or slogans to make their products unique, just as Smiggle currently uses the same bright colours and designs. As mentioned above, the target market of Smiggle in Australia is a group of children from 8 to 12 years old, mostly girls of kindergarten or primary school(Collins‐Dodd and Lynne Zaichkowsky, 2000). Positioning The placement is aimed at differentiating the brand of our product to the target market and then keeping the consumers in mind so that the company can make more profit from it. The Smigglebrand is positioned as a colourful stationery fashion brand and its products are positioned with high quality and high prices. It differs through design in that it is a unique way of life that combines education and leisure(Viltard, 2017). Marketing Objectives(SMART): The gain of 10% market share in Sydney and Melbourne area, by the end of 2021. Suitable marketing objectives Australia is an international region that is open to all foreign investors, these countries promise lower tax costs and fewer barriers to entry. In addition, a large number of tourists from the mainland visit Australia every year. Smiggle will choose to expand its business at places like Sydney and Melbourne as the location of our stores because they are the most populous centers in Australia. Target customers will be teenagers from 8 to 12 years old, especially women. In addition, the attitude of Australians is to follow fashion, well-designed and creative things that fit into the culture of our company. The Smiggle brand is positioned as a colorful stationery fashion brand and its products are positioned with high quality and high prices. It differs through design in that it is a unique way of life that combines education and entertainment(Koroleva, 2017). The selling point of Smiggle is that the product creates a beautiful style to stimulate the learning skills and thinking of young people. For example, Smiggle products will be compatible with children’s daily lives, including a delicate food package for children to go to school and eat. The whole class was jealous during lunch. In terms of health as well as safety, all Smiggle products are made from safe also harmless materials so that parents can use them with confidence(Wood, 2018). How marketing plan will achieve these