Way To Chalk Out Plan

Question:

Discuss keys to identify the best possible way to chalk out plan.

Answer:

The behavior of the customers also comes into the equation. There are some measuring keys to identify the best possible way to chalk out plan. Decision role is one such measuring tool for buying any product. The companies have their customer ranging mostly in buyers, user and initiators. Decision role has five sub-points. Initiator, influencer, decider, buyer and user are the five points. A decision is taken after analyzing certain behavior. Behavioral parameter varies customer to customers. 

A company should identify the users and arranging concrete plans to make them brand loyal. Promotional activities, advertising campaigns are the tools they are using to display their product and service (Sweaney 2016).

Another tool for identification is behavioral variable. Occasions, benefits, user status, user rate, attitude, buyer readiness and loyalty are present in this device. People mainly buy clothes before any big festival, like before Christmas or before the new-year. During this period, the role of industry becomes vital. They try to outsmart each other by new business plans. Many organizations are coming up with innovations to live up the expectations of the consumers. Some people look for benefit from the product. They expect the return of their money by service value. Some people seem to get many advantages in moderate amount (Sweaney 2016). If a customer comes to buy a car, he would look out for certain things in the car. The car need to be safe, the gear should be perfect. The car needs to give good mileage. Driver safety is measured. The car speed needs to be ranged at 10mph to 100 mph. these are things the customers see in a car model.  

Market Segment

If a market is defined, then it can be said that where a group of people or organization has needs for products and services in a product class. They have the authority, willingness and ability to purchase those things. Segmentation is defined as a process of dividing a total market into groups, teams consisting of people and organizations with similar products and services. 

Market segmentation is divided into four sub-branches psychographic, behavioral, geographic and demographic. 

Geographical segmentation is done by analyzing the size of the city, age group, preference, climate, local assembly, regions they live, etc. People from big cities like Melbourne, Sydney, Canberra, Brisbane, Adelaide, and Perth, are very progressive minded. Their attitude and adaptability are different. In the towns, the income level is also much high. In rural areas and the relatively conservative states like Western Australia and Tasmania, the attitude is different. In these two kinds of areas, Billabong Retail has developed particular fashion plans. Research says in urban zones of Australia age group of above 65 is 23 percent. It will be around 60 percent by 2050 (Sweaney 2016). Therefore, their shift of concern is to give the older generation a better and trendier lifestyle. This is where major companies are playing a vital role. Behavioral parameters are changed according to the regions. The people in Sydney are friendlier and they buy things easily. It has a specific reason. As the lifestyle and per capita income is more in Sydney than any other part in Australia. In Canberra and Tasmania, the people prefer to choice the products according to their income level. They look out for cheaper items at a considerable rate. Below a table has been given to show the price differences at major retail outlets in Australia.  

Positioning

 The factors like age structure, ethnicity, cultural background, education, family structure. In Australia, the culture is diverse. Many foreign nationals are living here for their bread and butter, education. People from the Indian subcontinent, China, Hong Kong are sizeable. Therefore, there is a mixed culture in Australia. These people have their tradition, taste and food habits. Their preferences are different. Retail companies are considering these parameters (Macdonald 2013).

Pricing

Price plays a crucial role. A person who is getting the service should not feel he is giving extra. They should provide quality service to win the trust. Same pricing strategies are using by many Retail organizations so that there is no scope of partisan favoritism. Australian Retail sector is so famous because their clients always feel they are getting the best possible guidance for their money. Less number of intermediaries has also made the price cheaper.

Distribution

Several organizations in Australia have introduced a Pan-Australian approach. Many branches have been opened in recent times. Every locality, be it urban or rural has, at least, one fitness center. Results are showing that around 500 stores Retail stores have opened hubs. Twenty thousand new memberships have been done, and more than 5,000 Australians have renewed their membership in the last couple of years. The newest trends are fast catching the imagination of the audience (Cardinal and Cardinal 2015).

Promotion

Promotional tools are critical in developing a brand. Retail companies are making successful sportspersons their brand ambassadors. There is an abundance of global icons in the sports in Australia. People like Brett Lee, Harry Kewell, Tim Cahill, Leyton Hewitt, Nick Kyrgious, Bernard Tomic is making the retail organization even more familiar with the mass.  Promotions are directed towards festivals and events. Big Bash, AFL is the two events where the most Australian goes. These sporting events are the target market for Billabong Retail. They are using Banners, Hoardings, electronic billboards, digital ads that are playing an enormous role in their brand identity (Jackson 2015). The retail companies and car making companies do not compromise on their quality. Speed and mileage are the parameters for car companies, so they prefer to choose athletes as the brand ambassador. 

Target market

Australian enterprises are emphasizing on service, better products, and customer relations. Their 24-hour availability is helping them making a good profit. Customer service requires physical interaction between the client and the service person. Billabong Retail is employing educated professionals who are best in this sector. Mental satisfaction plays a huge role in human psychology. Wellness can be measured by the consumer loyalty. Companies should focus on the quality of their products. They believe in providing top quality equipment to the clients. The customer is essential to any organization's growth. These retail chains provide the desired service and products so that they can retain their customers. Customers usually evaluate their product by their needs and expectations. It is important to give preference to buyer expectations while dissatisfaction only leads to decline in sales. Monitoring and observing each client need helps to close the gap between them (Jackson 2015). Monitoring of materials on their quality and commitment are important for buying a product. Target audiences should be selected at a fluid rate. If a company chooses their audiences wrong, they would not be able to sell their products. Demographic parameters and geographic specifications are needed to be evaluated before taking a decision. 

Macro and Micro Environment

Microenvironment has certain factors like Supplier, company, competitors, intermediary and customers. Each of them plays a crucial role. Retail industries have their selected suppliers. Vendors mainly collect the equipment from best manufacturers. Australia is the largest exporters of iron ores. So the gym instruments can be made in cheaper rate. The raw materials are easily available in nature (Halse et al. 2015).

Macro environmental factors are as many as six are. These are demographic, socio-cultural, natural, political-legal, technological and economic.

Marketing Mix

Marketing mix models are used to analyze data from a wide variety of resources like shipment data, retailer scanning documents, pricing, promotion spending data, media. It is useful for understanding the effects of marketing. It is equally important in this industry so that the companies petting up with each other can know how to grow better than the competitors can. It is a tool to understand the competitive advantage (Holtzhausen et al. 2013).

The marketing mix is intended at the positioning of the product or service it is targeted towards to customer. Marketing mix is a tool that is most important for attracting the customers towards a brand. Brand specific promotions are always invaluable for any company for entering a new region. Buyers sometime switch their loyalty if they see any new brand is making good products and giving great services. Therefore, the product, price, place and promotions are four important criteria that need to be set appropriately. 

References

Cardinal, B.J. and Cardinal, M.K., 2015. Regulating Physical Activity Education for the Public's Health and Safety, and the Field's Continued Relevance and Survival: Licensure for Exercise Leadership—It's Time!.Journal of Physical Education, Recreation, and Dance, 86(5), pp.3-5. 

Chang, J.D. and Yang, M., 2013. Empirical Study of Fitness Industry Cases-Based on SWOT. Advances in Physical Education, 3(02), p.80.

Cochrane, T., Davey, R.C. and de Castella, F.R., 2015. Influence of school community and fitness on the prevalence of overweight in Australian school children. Preventive Medicine, 81, pp.433-437.

Jackson, A., 2015. Across the country.

Markides, C.C., 2013. Game-changing strategies: How to create new market space in established industries by breaking the rules. John Wiley & Sons.

Mullin, B.J., Hardy, S. and Sutton, W., 2014. Sport Marketing 4th Edition. Human Kinetics.

Neville, R.D., 2013. Exercise is medicine: some cautionary remarks in principle as well as in practice. Medicine, Health Care and Philosophy, 16(3), pp.615-622.

Sweaney, K. (2016). Australasian Leisure Management - Fitness challenges (Humanities & Social Sciences Collection) - Informit. Australasian Leisure Management, [online] (104), p.50. Available at: http://search.informit.com.au/documentSummary;dn=420686408702247;res=IELHSS [Accessed 4 Feb. 2016].