Discuss about the Marketing Management for Evolution and Development.
The concept of marketing is changing with the passing phase of time. The change is occurring in the accelerating rate. In the similar circumstance, Baum et al. (2008) specified that the global competitive forces are affecting both the business and the professional aspects of the Australian market. The entrepreneurs are suggested to plan out the marketing attributes that meets both the human and the social needs. The previous studies forecast that the domestic enterprises get stuck in formulating its market ideas, which leads the organisations to lose its potential segment (Cooper et al. 2006). Therefore, the entrepreneurs have highly required plan out the marketing criteria with several cost effective methods. STP (Segmentation Targeting and Positioning) is the effective framework that often guides entrepreneurs with corrective marketing measures to present the products before the potential segments (Cohen, 2012). The current study attempts to scrutinise on the importance of STP on marketing management concept. The concept has been applied on the Australian farm house and Australian Beverages, the health drink brand in the Australian market.
STP of Mustela
It is essential for the marketing managers to segment its marketing concepts by employing different techniques. In this present context Beverland et al. (2010) stated that the segmentation is helpful to recognise the prospective clients for sharing the equivalent levels of the products and the parallel services. It has been observed that the demographic segmentation prospects of farm house are the business class. The segmentation concepts of the firm are also preceded through the criteria like age, gender, income status and the relationship. In this present scenario, Corrigan et al. (2014) added that the firm has to keep a focus on the selling of farm house products to satisfy the requirement of the business class and the chosen clients. As the business class has a unique boldness while purchasing the properties, so that the farm house agents in the Australian market require to put a substantial prominence while selling the properties to the clients. According to the opinion of Williams (2012), the management of the firm is enough matured to set the price range depending on the income group status of the customers. Hence, every level of customers can enjoy the products for the properties offered by the leading brand. As target customers like to purchase the best products to withstand the comfort aspects, the company provides an optimal opportunity to all the levels of customers by reducing the price discrimination factor. Therefore, it can be inferred that the property agencies in the Australian market kept the price range in an equal margin to preserve the standards of the products.
As per the company statistics, farm house based brokers target the business class between the age group of 28-46 years for satisfying the requirements regarding the property procurement. The firm has taken a major initiative to communicate directly with the clients and the expected prospects so that the company could develop the product segment robustly and efficiently. Considering the words of Beverland et al. (2010), the majority of the celebrities are driven by the good will of the properties of the penthouses and the recent products offered by the real estate enterprises. In this current situation, it is hard for the brokers to convince the prospects in terms of changing the brand name while purchasing the properties (broom02.revolvy.com, 2016). Thus, the management of the brand has organised a commercial presentation, especially, for drawing the attention of the expected target clients. Therefore, it could be depicted that the firm has contributed for the long-term planning to attain the future benefits (Williams, 2012). Furthermore, the disinclined behaviour of the celebrities and the entrepreneurs is the other option for the management of to determine a set of a strategic initiative for the betterment of the products. Hence, investing in innovative and diversified service lines for the professional clients with a commercial declaration would help the farmhouse brokers to attract the clients towards the product segment.
The marketing division of the company has to follow a standardised positioning criteria for the rival groups. In the opinion of Corrigan et al. (2014), the Australian farmhouse sector is one of the leading international division and having a sustainable market position in the market of Australia. The research and the development (R&D) section of the organisation is highly competent to identify the financial strategies of the competitors. Thus, this is one of the prime advantageous segment of the company to establish a stable market position in the international market area. It has been speculated that the segment has customised the product price in an affordable range, which helps to eliminate both the quality and the economic expectations of the sector (Clark, 2010). On the other hand, the digital execution of the products is one of the smart policies of the chosen company to improve the brand positioning factor (Abelson et al. 2013). The brand could offer both the optical and the perceptible services to satisfy the target customers for improving the purchasing behaviour.
STP of Australian Beverages
In the current framework of segmentation, ‘Australian Beverages’ offers different types of energy drinks, supplementary juices and juice drinks, sports drinks, bottled and packaged water, ice teas and ready to drink coffees. The current market scenario of Australian Beverages indicates that the company is mainly targeted the sports segment for the energy drinks and other protein supplements. In the words of Cohen (2012), the teenage group section is particularly attracted towards the fitness activity and the frequent consumption of the sports drinks. Besides, Baum et al. (2008) stated that the extra juices are consumed by the student group and the teenagers. These supplements contained no added sugar and comprised wholly of fruit contents. The labelling of the nutrition value is kept equal to the offered fruit content.
The customer consumption report also indicates that teenage and women’s group prefers to drink carbohydrate products to fuel the muscles and brains. VoráÄek et al. (2016) also added that the athlete group also requires special glasses to aid in the rehydration. Considering the fact, the current organisation has introduced different sports and electrolytic drinks for the age group of 15-34 years. As the female segment is highly concerned regarding the health, safety and losing weight rapidly, all standard food codes have been mentioned in the labelling of the supplementary drinks. However, Cooper et al. (2006) also stated that male groups prefer to put on the weight in an efficient manner. Therefore, the extra juices are offered primarily to the men, which include different mass gaining components (australianbeverages.org, 2016). The potential combination of the healthy food ingredients has helped the brand managing its brand competitiveness in the Australian market.
The energy drinks are highly preferred amongst the young generation and the business class. According to Beverland et al. (2010), the age group between 21-32 years are highly inclined towards the energy drinks. The drinks are the formulated caffeinated beverages that contain the energy boosting substances. The young generation is highly distinctive regarding the ingredients that are used in the energy drinks. Therefore, Australian Beverages uses 145 mg/L - 320 mg/L of caffeine in the drinks to keep the body hydrated. In the similar circumstance, Corrigan et al. (2014) asserted the brand had maintained a distinctive approach in its product labelling approach. Through the lucrative packaging method, the brand has created a relative distinction with its heath drinks and target segments. The products that exclusively target the youth segments are not confused with the teenage segments (www.aabri.com, 2016). The sports drinks are specially introduced for the age group of 12 – 19 years. Basically, the target group have the tendency of participating in the sports events of schools and colleges. Hence, the electrolyte drinks have been introduced with 10% of sugar contents to convince both the target group and the parents for the procurement approach (australianbeverages.org, 2016). The particular product is promoted with the message that specified that the drink contains the carbohydrates that fuel up the muscular structures and boost up the capacity of human brains (www.theaustralian.com.au, 2016). The cordial are the concentrated fruit-based syrup that is introduced by targeting the women segment between 15 – 26 years.
The electrolyte drinks are positioned with the message to contain a minimum sodium content, which enhances the absorption of both carbohydrate and water. Thus, despite of high sweat, the body remains hydrated. According to Williams et al. (2012), the electrolyte drinks are sold out at a greater margin in the Australian market. Moreover, the Cordials are introduced specifically for the female segment. Thus, the product is introduced with varied flavours like orange, lemon, blackcurrant and lime. Baum et al. (2008) determined that the energy drinks are promoted Food Standards Code to gain the commitment and the confidence of the potential customers. The above considerations enacted to be the advantageous prospect for the brand to position its products with the marketing accuracy to convince the target segments and attaining a competency in the Australian market.
The above study states that ‘segmentation, targeting and positioning’ strategy offers a strategic advantage over the competitor of an organisation. The overall health drink market can be divided into homogeneous or heterogeneous groups. Thus, it is the responsibility of the marketers to satisfy and target those groups by offering a unique set of products. In this context, the current essay reflects on the health drink products company Australian Beverages and the farm house segment, in the Australian market. These two marketers potentially maintain the demand and the need for the targeted consumer pool. The employment of potential STP modules has enabled the current marketers targeting and positioning correctly in the Australian market. Eventually, the brand interaction has been increased, and the same has reflected on the current brand sustainability index.
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