Answer To: Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been...
Kuldeep answered on Sep 16 2021
Strategic marketing
Contents
Introduction 3
Overview 3
Competitor Analysis 4
Strengths and weaknesses of these competitors 4
SWOT Analysis 5
Opportunities and threats that exist for this brand 6
Marketing Strategy 7
Targeting and Positioning 8
Positioning 9
Marketing Objectives (SMART) 9
Marketing plan will achieve these objectives 10
Conclusion 11
Each IMC tool will achieve the campaign outcomes 11
Recommendations 12
References 13
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.com.au, 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 (level, 2020).
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 competitors
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 (The Just Group, 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 these competitors
Strengths:
1. Extensive network
2. International brand
3. Network capacity
4. Strong brand name
5. Good coverage
6. Speed
Weaknesses:
1. Less known in the culture
2. Foreign brand
3. Rising prices
4. High tax rates
5. Competition
SWOT Analysis
Strength
1. Smiggle has the unique advantage of brand ownership
2. Compared to competitors, the Smiggle design is more colorful, creative and fashionable (Alfanda and 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 and Suhartanti, 2018).
Opportunities and threats that exist for this brand
Opportunities
As a pioneer of stationery companies that...