Strategies for International Industrial Evaluating Marketing

Question: Discuss about the Strategies for International Industrial Evaluating Marketing. Answer: Introduction: The business target market today is brutal, cutthroat and allows no slacker to survive the dynamic tides. The consumer market has changed radically since the onset of global financial crisis. To cope with the random blows of recession the business markets started the game of pleasing customers, heeding to all of the unrealistic and obscene demands, has given rise to a frightening world of completion. Bringing the conglomerates into mix, it has enthralled the consumers with a wide variety displayed across hundreds of square feet and captivating discount schemes. Consumers are now accustomed to find everything on their fingertips, and the service providers are not shying away from blatantly heeding to all their demands (Arnett and Wittmann 2014). This revolutionary change in the consumer market has brought upon the era of cutthroat competition, and that competition is now starting to choke the small fishes in the market. Hence the world of promotional marketing has changed as well for better or for worse. The business organization are now incorporating more and more tricks up their sleeves (Arnett and Wittmann 2014). With the global trend of inclination towards internet and social media the marketing trends had to incorporate social media marketing as well. Studies suggest that a business market has to include social media and online marketing along with conventional marketing techniques to survive the ever changing market scenarios. This report attempts to formulate a business marketing plan for a company named BBQfun and evaluate different marketing activities in order to evaluate the significance of each (McKenzie, Neiger and Thackeray 2016). Marketing and marketing plans: Marketing plan can be defined as the carefully planned well articulated steps organized in a chronological order that will benefit the organization by increasing the popularity of the organization so that the organization attains stable and continual professional growth. Marketing is considered with needs and wants of the organization aligning with the needs and wants of its consumer market in an effortless manner. BBQfun is a organization opened in 2009 providing extensive range of products be it local or imported goods. However with the onset of 2010 the organization has faced the burn of mounting competition in the retail market. The change in the consumer market has caused the sales status to drop radically (Arnett and Wittmann 2014). The company has attempted to revive its sales patterns in the recent years to return to their standard sales of $11 in the recent years. BBQfun has managed to incorporate changes in their marketing plan to return the consumer base to the maximum. They have two operational outlets in Brisbane and Queensland, both in suburban areas with a multicultural and diverse consumer crowd. However their marketing policy is not very effective in retaining the crowd the manner they are hoping it would. They want to move their sales record to $12 millions within 2012 and to $15 millions within 2015. Along with that they aim to increase the marker shares to 25% within 2012 and increase their customer loyalty list from 8000 to 12000 within the next year as well. Moreover they attempt to increase their brand recognition in Brisbane to a point where at least one out of three residents recognize the rand name. However their marketing plans are not much to achieve all these goals. Analyzing this situation in elaborative effort, the target market profiling for the company is vastly lacking. The target market from Brisbane has enough detail on teir inclination towards renovation, however for the other nearby suburbs, there is no information on the lifestyle inclination of the residents. This differential knowledge on target market has drastically affected the sales pattern and market recognition. Due to the faulty and backdated market strategy the BBQfun authority has resorted to online and electronic media marketing to revive the sales pattern. However it albeit reviving the sakes to some extent is not nearly enough for the goals set for the future and support the great expense for expansion of the business. As a result the gross sales of the company has increased markedly with the net profit remaining flat as before. The market shares and net sales has improved gradually however the profit is emptied out by the massive expense of advertising and online media marketing, there is need for strategic improvisations to the market plan (Ashley and Tuten 2015). Marketing policies and procedures: Along with keeping in par with market trends for a business organization to strive it is important for the organization to comply with the regulatory legislations (Galician 2013). The policies apply to all the staff and is available to all the employees in BBQfun premises. The market plan complies with the privacy act, no call registration legislation, no discrimination policy and competition and consumerism act. The employees are to adhere rto the legislations na marketing policy at all circumstances. Recommendations: In my opinion BBQfun is attempting to sell an extensive range of retail and lifestyle needs and is mainly in the suburban area. Hence their target market is the middle class suburban residents of Brisbane and Queensland and the surrounding area, the small business vendors and local markets. The previous marketing activities that have been incorporated by the company include major emphasis on the electronic marketing and advertisements. It has to be considered that the electronic marketing and advertisement promotion was a trend of the last decade (Grnroos and Grnroos 2016). In todays scenario, it is not only useless but is also too expensive to be useful. The company could increase the sales considerably but the most of the profit went to feed the marketing campaign and rendered the entire effort useless. They are in dire need of powerhouse marketing incorporating corporate marketing skills coupled with more modern techniques that can capture the attention of the target market they are aiming for (Hallbck and Gabrielsson 2013). As a suggestion i would recommend the company to invest in online media marketing with excellent PR professionals devoted to the social media growth of the company (McKenzie, Neiger and Thackeray 2016). It has to be considered that the generation of today spends much more time surfing internet than watching television or reading newspapers. Investing in sources that will actually reach their target market will definitely boost their profit and will also curb their skyrocketing marketing expense (McKenzie, Neiger and Thackeray 2016). Legislation : the legislation that align with the changes neded to be incorporating ino the marketing plan include Adhere to Privacy Act. Adhere to Do Not Call Register legislation Adhere to anti-discrimination policy (Ryan 2016) Adhere to the Competition and Consumer Act 2010 (formerly the Trade Practices Act). The outcome that this method will construct will be a significant rise in their sales graph, and instant boost to their profit range. Along with that they will get the boost to their market popularity as well that will increase their market shares markedly and widen their customer base in the period of a year or two (Sah and Fugh-Berman 2013).alysis Reference List: Arnett, D.B. and Wittmann, C.M., 2014. 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