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Bsbmkg 501 Identify and evaluate marketing opportunities

Identify and evaluate marketing opportunities (Newton College)

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BSBMKG501

Assessment 1

Part A
Part A requires you to identify and evaluate two opportunities for your
chosen organisation.

BBQ fun company is required for the following analysis. As per the
information the company was established in 2009 by current CEO, Pat
Mifsud. BBQfun offers an extensive product range, incorporating both local
and imported goods. Since 2010, the increasingly competitive retail
environment, technological change, changes in consumer buying patterns
and consumer confidence has led to disappointing sales. However,
BBQfun intends to return to healthy sales of $11 million in 2012 through
building on its organisational strengths, through targeted marketing
strategies aimed at key segments and through exploiting marketing
opportunities. Currently, BBQfun operates two stores, one in Brisbane
(Kenmore), and one on the Gold Coast. BBQfun is seeking business and
marketing opportunities that could lead to interstate or national expansion
if viable and scalable

 To identify opportunities, analyse information on your chosen

organisation’s market and business needs, for example:
o Comparative market information
BBQ fun sees its moderate pricing, extensive and high-quality
product range, great customer service, and product
guarantees as key offerings to gain traction with a market
dominated by low-quality providers. The basic market need is
for quality, fashionable and unique outdoor lifestyle items that
fulfil the house-proud needs of our target marketing 2017, the
national outdoor-lifestyle market reached $300 million dollars.
Outdoor-lifestyle sales are estimated to grow by at least 6%
for the next few years. This growth can be attributed to
several different factors. The greater disposable household
income from the two income families, the greater availability
of affordable and interesting quality imports with the high
value of the Australian dollar and the marketing by popular TV
shows like Homes Beautiful and Better Outdoor-lifestyles.

o Competitors’ performance

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The Yard: has limited selection but significant depth. All

Australian made. No significant marketing or promotion. The
price point is high, but the quality of products is quite good.
Not in Brisbane. Mostly in Sydney and Melbourne. BBQ’s R Us:
Broad range of outdoor-lifestyle products including trinkets
and furnishings. Lots of cheap imports. Concentrating on
established markets. Strong in the replacements segment.
Local competitor: All independents: these stores are own by
individual owner operators. Ranges vary according to owner
preferences. Very little imports. Mostly retailing Australia
manufactured goods. Collectively their average item sale price
is $250, have a market share of 48%, and are growing at
about 8% per year. 1.

o Customer requirements
BBQ fun mission is to provide customer with the most extensive
assortment of quality out door lifestyle product available in the
market .our after sales service is second to none supported by our
easy to manage long term repayment plans which make unique
imported and high quality outdoor lifestyle customer wishing to
purchase product that give our customer s pride in their homes. Our
service will exceed the expectations.

o Legal and ethical requirements

Australian Consumer law ACL 2011

The ACL applies nationally and in all States and Territories,

and to all Australian businesses. For transactions that
occurred prior to 1 January 2011, the previous national, State
and Territory consumer laws continue to apply. The ACL is
administered by the ACCC and state and territory consumer
protection agencies and is enforced by all Australian courts
and tribunals, including the courts and tribunals of the States
and Territories. The protections in the ACL are generally
reflected in similar provisions in the Australian Securities and
Investments Commission Act 2001 (ASIC Act), so that financial
products and services are treated in the same way.

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Intellectual property act 2015 and IP BILL 2014

The Intellectual Property Laws Amendment Act 2015
("Amendment Act") amended the Patents Act 1990, Trade
Marks Act 1995, Designs Act 2003, and the ... For detailed
information on the Amendment Act, please see the
Explanatory Memorandum to the Intellectual Property Laws
Amendment Bill 2014 .Amends the: Patents Act 1990 to:
implement the Protocol amending the World Trade
Organization Agreement on Trade-Related Aspects of
Intellectual Property to enable Australian pharmaceutical
manufacturers to supply developing countries with generic
versions of patented medicines; and make technical
amendments; Plant Breeder’s Rights Act 1994 to enable the
owners of plant breeder’s rights in a plant variety with the
option to take action in the Federal Circuit Court against
alleged infringers; Designs Act 2003, Patents Act 1990, Plant
Breeder’s Rights Act 1994 and Trade Marks Act 1995 to
provide for a single trans-Tasman patent attorney regime and
single patent application and examination processes for
Australia and New Zealand; and Designs Act 2003, Patents Act
1990 and Trade Marks Act 1995 to remove document
retention requirements.

o Market share
The company is owned by individual owner operators. Ranges
vary according to owner preferences. There are very few
imports. Mostly retailing Australian manufactured goods.
Collectively their average item sale price is $250, they have a
market share of 48%, and are growing at about 8% per year.
One important source of market research is competitive
analysis. BBQ fun management continually visit local outdoor
lifestyle stores for competitive analysis, providing BBQ fun
with timely information regarding other store’s service
offering.

o Market trends and developments

The market trend for outdoor lifestyle stores is headed toward
a more sophisticated and informed customer. Outdoor
lifestyles customers are becoming more sophisticated in a
number of different ways:

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a. Item quality – the preference for high quality items is

increasing a customer are learning to appreciate the
quality differences.
b. Unique – our patrons appreciate the opportunity to include
outdoor lifestyles in their home that stand out from the
mass-produced and low quality items.
c. Selection – people are demanding a larger selection of
choices; they are no longer accepting a limited offer in
outdoor lifestyles.

o New and emerging markets

There are two emerging market that BBQFUN would like to do
in the future:
a. BBQ’s R Us: Broad range of outdoor lifestyle products
including trinkets and furnishings. Lots of cheap imports.
Concentrating on established markets. Strong in the
replacements segment. One store in Brisbane. Mostly in
Melbourne and Adelaide. Considering e-commerce options.
b. Outdoors marketing: Large operations of only a few stores
per city. Mass markets outdoor lifestyles at good value
prices. No imported goods. Extensive advertising. Low to
medium quality. Strong in the replacement segment rather
than new and refurbished dwellings. Gaining strength in
Brisbane market. Considering ecommerce options

o Profitability
BBQfun has created an outdoor lifestyle range of retail
products that is differentiated and superior to competitors.
Customers can see the quality of the product as it is displayed
in the stores. The following are characteristics of the product:
• BBQFUN’s credit offer is backed by a top tier bank
• Imported products make up 33% of the product
range
• The three-year guarantee is unique in the market
place broadest possible range in chosen field
• Expert, friendly customer service

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• BBQfun prides itself on providing service that is on

par if not better than any of the local independent
stores and far in excess of the national chains.

o Sales figures

BBQfun 2012/13 Approved budget by activities to be undertaken

Income:
Sales $11,000,000 Barbecues and related equipment
Investment income $1,567,000 Real estate investment income
and rental of
office space.
Cost of goods sold $5,890,000 Cost of provision of goods,
(COGS) purchase of stock,
distribution.
Gross profit $6,677,000 Gross profit.
Expenses:

Wages, salaries and on $2,567,890 Wages, salaries, superannuation,

costs work cover
insurance, payroll tax
Consultancy fees $50,000 Project management: WHS
management
system; change management.
Communication $42,000 Telephone, ISP costs, IT support.
expenses
Marketing $800,000 Cost of staff travel and associated
costs for
sales, etc.
Premises expenses $1,000,000 Rent, electricity, maintenance,
cleaning.
Capital expenditure $120,000 Purchase of new office equipment
(90%),
vehicles.
Depreciation and $177,569 9 Computers and capital
amortisation equipment that is
depreciated.
Office supplies $65,068 Printing and stationery, postage,
amenities.
Training $62,187 Sales training: leadership, WHS,
ethical/ legal
training.
Total Expenses $4,884,714
Net profit $1,792,286 Net income before tax

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 Research potential new markets for the organisation, for example:

o Export markets
BBQfun was established in 2009 by its current CEO, Pat
Mifsud. BBQfun offers an extensive product range,
incorporating both local and imported goods. BBQfun steadily
increased market share and profitability to 2010 when sales
peaked at $10 million. Since 2010, the increasingly
competitive retail environment, technological change,
changes in consumer buying patterns and confidence has led
to disappointing sales. However, BBQfun intends to return to
healthy sales of $11 million in 2012 through building on its
organisational strengths. Organisational strengths will be built
through targeted marketing strategies aimed at key segments
and through exploiting marketing opportunities.

o Segments of the market not currently penetrated

BBQ Fun market consists of the following geographic and
demographic characteristics.
Geographic:
• our immediate geographic target is the area of Brisbane
with a population of
2,000,000
• a 30 kilometres’ geographic area is the average store
market footprint
• the total targeted population is estimated at 450,000

Demographics:
• male and female
• ages 20–50
• high percentage of young professionals who work in the
central business district
• high percentage have completed
undergraduate/postgraduate study
• an average household income of over $70,000.

BBQfun’s advertising budget is set at $180,000 for the 2012

financial year. The advertising program will target local letter
box drops, radio and magazines. BBQfun will use direct mail
and local advertising, with coupon inserts in the Briskness
magazine is likely to be the most successful of the campaigns.
BBQfun will try to get articles about BBQfun into the BrisNews
magazine. Previous features in the BrisNews magazine has

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seen a dramatic increase of sales immediately after the article

was published.

 Consider strategic marketing approaches such as:

The various strategic marketing approaches (such as; increasing
market share, developing new markets, developing new products
and diversification)that the company should consider in terms of
expanding their business potential and discuss what are the likely
options for implementation.

Strategic marketing approaches

Factors Options Considera F or

tions U(favou
rable or
unfavou
rable)

Market Market The favourabl

penetration share outdoor e
growth and
(present
lifestyle
market,
market in
present
UK is
product)
growing at
the rate of
6.6% per
anum.
Therefore,
with the
existing
line of
products
that
BBQfun
offers, they
can
venture
into the UK
markets.
USA and
China
market is
also at a
growing

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stage and it
would be
advisable
for BBQfun
to explore
the
imported
goods
market of
both the
countries.

Customer In today’s favourabl

loyalty world, the e
improve customers
ment are only
loyal to
those
companies
that offer
good
quality
products at
lower
prices.
Therefore,
BBQfun will
have to
concentrat
e on
manufactur
ing good
quality
products at
reasonable
prices to
attract
customers.
In UK and
USA they
will not
face much
stiff
competition
but in
China they
will have to
find ways
to reach

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out to the
customers
because
China has a
huge
market
which
offers
goods at
low prices.

Customer The favourabl

value company e
improve needs to
ment concentrat
e on
providing
after sale
services to
its
customers
to create
customer
value. They
will have to
ensure that
in each
market
they satisfy
the needs
and wants
of their
customers (
Zhou,
2012).

Product Design All the Favourabl

development( three e
present countries
market, new market
product) focuses on
the design
of the
product.
BBQfun will
have to
make
changes in
the designs

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of their
goods
according
to the
tastes and
preferences
of the
customers
of the
country
they want
to cater.
Very
market has
different
taste and
preferences
, which
BBQfun has
to
understand
(Bellandi, &
Lombardi,
2012).

Technolo Technology favourabl

gy used by e
BBQfun will
have to be
advanced
and up-to-
date to
combat the
competition
it will face
from its
competitor
s. If BBQfun
expands its
market in
China then
their
technology
has to be
the best in
the market
because
the Chinese
market is

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highly
advanced
and
technologic
ally
forwards.

Distributi BBQfun will favourabl

on also have e
to
concentrat
e on
establishin
g its
distribution
network to
make sure
that their
products
are easily
available in
the market.
In
establishin
g a
distribution
network,
BBQfun will
not face
any issues
in UK, USA
or China as
all these
countries
have an
advanced
e-
commerce
method o
establishin
g
distribution
network.

Market Exporting BBQfun will favourabl

development( gain a e
new market, competitive
present advantage
if they

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product) export their

current
products to
USA as the
market for
imported
goods is
not
explored
yet. But in
China the
imported
goods
market is
well
explored
and by
entering
into that
market
BBQfun will
get no
advantage
(Mayer,
Melitz, &
Ottaviano,
2014).

Licensing Obtaining unfavour

/ trade able
franchisi license in
ng China is a
very long
drawn and
difficult
process.
BBQfun can
obtain
trade
license
easily in UK
and USA to
start their
trade
operations
there.
Franchising
will also be
more

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convenient
in UK and
USA but it
would raise
the cost for
BBQfun.

Joint The joint unfavour

venture venture able
option is
also
available
with
BBQfun but
coming to a
consensus
for both the
companies
will be a
problem
owing to
their
difference
in culture
and
methods of
carrying on
trade (Acur,
Kandemir,
& Boer,
2012).

Direct UK, USA favourabl

investme and China e
nt are inviting
foreign
direct
investment
s to their
countries
and so this
is a
favourable
time for
BBQfun to
enter into
foreign
markets.

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Diversification Related BBQfun can favourabl

(new market, diversific diverse e
new product) ation their
product
portfolio
according
in lines
with their
current
portfolio of
products.
They will
have to
first
identify the
needs,
wants of
the
customers
in the
market,
and then in
alignment
with that
diversify
their
products
range.

Unrelate Unrelated Unfavour

d diversificati able
diversific on can be
ation an option
for BBQfun
to enter
into a new
market. But
this will
increase
their cost
of
operations
with no
guaranteed
return as
all the
investment
s will be
made in a

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new
market.

 Using a suitable methodology, such as gap analysis, market or

marketing analysis, or competitor analysis, identify and decide on
two marketing opportunities to focus on and investigate further.

A gap analysis is a method of assessing the differences in performance

between a business' information systems or software applications to
determine whether business requirements are being met and, if not, what
steps should be taken to ensure they are met successfully. Gap refers to
the space between "where we are" (the present state) and "where we
want to be" (the target state). A gap analysis may also be referred to as a
needs analysis, needs assessment or need-gap analysis.
According to BBQFUN the goals of the company are to provide the great
value outdoor lifestyle products and second-to-none customer service, so
let have a look on the gap analysis.

Gap analysis

Strategic Current Deficiency Action plan

objective standing

Market It is selling BBQfun is  

penetration more not being
number of able to get
products in extra
the existing market
markets. share by
market
penetration
.

Product It is selling BBQfun is A proper market

developme new not being research will help
nt products in able to BBQfun to
the existing innovate its understand the
markets. products types of products
according that the market
to the needs.
needs of
the market.

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Diversificati It is selling The  

on new diversificati
products in on is
the new increasing
markets. the cost of
BBQfun,
which they
are not
being able
to meet in
the new
market.

Market It is selling The existing BBQfun will need

developme existing products to conduct a
nt products in are not market research
the new according of the new
market. to the new market  to
markets’ understand the
tastes and market needs and
preferences demand so that
. they can
introduce
relevant products
in that segment
of the market.

 In your analysis, consider types of markets and aspects of the

marketing mix such as distribution, products and types of
promotional activities

Types of marketing & markets

Ranking(
Most
favourabl
e = lowest
Types of Mark number
Considerati
marketin et to while
ons
g serve least
unfavoura
ble =
highest
number)

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USA The e- 1
commerce
market for
outdoor and
lifestyle
products in
USA is very
advanced
and
developed
and more
profitable
then UK and
China
market.
Hence,
BBQfun
e-commerce
should focus
on online
market in
USA by either
creating their
own e-
commerce
site or by
tying up with
the other
online
websites of
USA
(Purkayastha,
Manolova &
Edelman,
2012).

business-to- China For a foreign 7

business company it is
difficult to
enter into the
Chinese
markets.
Hence,
BBQfun can
use the
options of
joint venture,
strategic
alliances or
partnership

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to enter the
Chinese
market. The
only
drawback in
this case will
be that due
to the
cultural and
trade
difference,
the two
companies
may not be
able to reach
a consensus
(Chen, Reilly,
& Lynn,
2012).

UK Direct 2
marketing is
a way by
which the
company can
advertise its
products by
sending
emails or text
messages to
direct the
marketing customers or
by
distributing
catalogues
and websites.
This way of
advertising
will be helpful
for BBQfun in
the UK
market.

ideas UK This will be 4

marketing more
favourable in
the UK
market as the
customers in

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UK are more
accepting
when it
comes to
trying new
brands or
products.
Therefore, if
BBQfun uses
the correct
method of
advertising in
the UK
market and
makes the
consumers
aware of their
line of
products,
their sales
might
increase
(Uhlaner, L.
M, Duplat &
Zhou, 2013).

USA Due to United 3

States Free
Trade
Agreement
between USA
and Australia,
the trade
relations
between both
public sector the countries
marketing are very
good.
Therefore,
the USA
government
would help
BBQfun to
reach out to
the local
customers.

services China Services 6

marketing marketing

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refer to both
B2C and B2B
services.
Since
entering
Chinese
market is
difficult due
to its
stringent
trade laws,
service
marketing
will be
beneficial in
the Chinese
market
(Morgan,
Katsikeas &
Vorhies,
2012).

USA The 5
telemarketing
will be most
beneficial in
the USA
market as the
people out
telemarketing there are
easily
induced into
purchasing
products by
viewing
advertisemen
ts. 

 Estimate the effect of the two marketing opportunities on the

business, for example:
-Effect on sales volume
-Growth
-Market share
-Profitability.

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Impact  analysis

Marketin Factors How does it Action plan

g for affect BBQfun?
opportu considera
nity tion

Product Effect on The sales The company

developm sales volume volume will needs to
ent increase as the maintain the
company’s sales volume.
product portfolio
increase.

Growth Introducing new The company

products needs to launch
ascertains new products
growth the according to the
product portfolio needs of the
and sales of the market.
company.

Market share The market The firm has to

share of BBQfun increase its
will increase. market share by
attracting more
consumers.

Profitability With increase in The profit level

sales volume, needs to be
the profitability maintained.
will also
increase.

Potential The potential The analysis of

competitors competitors of the competitors
BBQfun will also products and
try to launch sales needs to
new products in be done.
the market.

Market Effect on The sales figure The company

developm sales volume will increase. needs to attract
ent more customers
by means of
advertising.

Growth Emerging into The penetration

new markets will into new market

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ensure growth of has to be done

the company. after proper
market
analysis.

Market share The company In the new

will need to market, the
capture a share market share
of the market in needs to be
the new country. established.

Profitability In new markets, Profitability

the profitability needs to be
cannot be ensured after a
ensured in the few years in the
formative years. new market.

Potential The company The market

competitors needs to do a research will
proper market help analysing
research about the rivals.
the rivals in the
market.

 Use numerical analysis or statistical methods to forecast effects. For

example, use the least squares method to estimate demand. Use
estimated demand to calculate effect on sales and profitability.
The BBQFUN are using the cross section data, as the company
wanting to predict the value of the sales that the marketing team
are observing; according to the information on the cases that we
have observed. Examples of cross-sectional data include of; New
Builds Renovation and the replacement;

New builds Renovator Replacement

s s
Have visited BBQfun in 70% 70% 50%
previous month
Have bought a BBQfun 70% 65% 50%
product in previous
month
Customer service is 90% 95% 60%
essential

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Price is most important 10% 20% 95%

Australian made is 80% 65% 55%
important
Will buy online 100% 100% 100%
Will pay for online 30% 100% 100%
delivery if chosen
Loyalty customer 30% 20% 10%

 Explore and develop entrepreneurial, innovative or creative options

(one for each opportunity) to apply the marketing opportunities in
the context of the organisation.

The chosen option is E-commerce opportunity. The benefits of

applied the e commerce to the BBQFUN could be varies such as:
a. Get deeper on the customer behavior
As the BBQFUN create the Online feedback for the customer this
could be the best thing for the company to get to know the
customer deeper; By satisfying their needs constantly, you can
improve your ongoing relationship with them and build long-
lasting relationships.
b. Personal service
The company aren't just guided or influenced by price. Providing
a personal service, albeit online, is both appreciated by the
customer and can prove to be very beneficial in increasing sales.
How can the customer provide a personal service via your online
presence, etc. Therefore, the customer

PART B

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Prepare a 15–20-minute presentation for marketing peers explaining and

supporting the two marketing opportunities you have identified. Ensure
you complete the following:
 Describe two marketing opportunities and how you identified them.
Describe the process you undertook to analyse your organisation to
identify the marketing opportunities. Refer to current organisational
marketing plan and products/services
The marketing opportunity of the BBQ FUN are:
o A growing market in a high growth area with a significant
percentage of the target market still not aware of BBQ fun
value proposition.
o Increasing sales opportunities outside of our store locations –
south east of Melbourne.
o Growing opportunity for online sales.

 Support your choice of marketing opportunities with reference to

market information such as market trends and sales figures.

To gain more market share, customer services are very important.

In most BBQ FUN stations franchises are not very competent to
some extends. For example, language would be the main problem
because these franchises are from overseas. They could not fully
understand customers’ requirements and the instructions from head
office. So the training courses are necessary for customer services.
On the other hand, developing new products will be helpful for the
company. The most products in BBQ fun are not produced by BBQ
fun self, except BBQ FUN milk and bread. So it will be a good chance
to produce more home brand products such as chocolate bars and
hot foods which are good for breakfast and lunch.

 Describe the effect of opportunities on the business, for example:

o Sales volume

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Sales volume is the number of units sold within a reporting

period. This figure is monitored by investors to see if a
business is expanding or contracting. Within a business, sales
volume may be monitored at the level of the product, product
line, customer, subsidiary, or sales region. This information
may be used to alter the investments targeted at any of these
areas. A business may also monitor its break-even sales
volume, which is the number of units it must sell in order to
earn a profit of zero. The concept is useful when sales are
contracting, so that management can determine when it
should implement cost reductions. This can be a difficult
concept to employ when there are many different products,
and especially when each product has a different contribution
margin.

o Growth
BBQfun’s advertising budget is set at $180,000 for the 2012
financial year. The advertising program will target local letter
box drops, radio and magazines. BBQfun will use direct mail
and local advertising, with coupon inserts in the BrisNews
magazine is likely to be the most successful of the campaigns.
BBQfun will try to get articles about BBQfun into the BrisNews
magazine. Previous features in the BrisNews magazine has
seen a dramatic increase of sales immediately after the article
was published.

o Market share
Represents the percentage of an industry or market's total
sales that is earned by a particular company over a specified
time period. Market share is calculated by taking the
company's sales over the period and dividing it by the total
sales of the industry over the same period.

o Profitability.
Profitability ratios are a class of financial metrics that are used
to assess a business's ability to generate earnings compared
to its expenses and other relevant costs incurred during a
specific period of time. For most of these ratios, having a
higher value relative to a competitor's ratio or relative to the
same ratio from a previous period indicates that the company
is doing well.

 Describe innovative or creative options (one for each opportunity) to

apply the marketing opportunities in the context of the organisation.
Refer to aspects of the marketing mix, i.e., product, price,
promotion, place (distribution). Refer to principles of marketing that
apply to your approaches to realising the proposed opportunities.

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o Pricing
while BBQfun will price at comparable prices for comparable
quality, it will not be cheap. We emphasise value over price
and back this up with three years guarantee.

o Place
BBQfun products will be distributed through two retail stores
which customers can access easily via the large car parking
arrangements.

o Promotion
The most successful advertising will be ads and inserts in the
Brizzy as well as a PR campaign of informational articles and
reviews also within the Brizzy. Promotions will take the form of
in-store entertainment and competitions with prizes to exotic
overseas destinations. Social media is considered not viable or
practical considering low participation among targeted
segments.

o Product
BBQfun’s philosophy is that whatever needs to be done to
make the customer happy must occur. This investment will
pay off with a fiercely loyal customer base which will
recommend BBQfun to friends.

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