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MRKT20052 Marketing Management And Digital Communications 3

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Question:

This assessment task requires you to conduct a situational analysis that consists of a comprehensive external and internal analysis for a new product or service from the pre  determined list (see below).

You are required to prepare a 5 minute PowerPoint presentation that includes a maximum of 10 slides .

List

Product/service Weblink

Nexba Beverages https://startups.venturecrowd.com.au/deal/detail/nexba_seriesaextension

Ingogo

https://www.ingogo.com.au/

SpacetoCo

https://www.spacetoco.com/

Fingerschinder

https://www.kickstarter.com/projects/fingerschinder/fingerschinder-r2.

 

Answer:

Background Information

  • The beverage industry specializes in the production of drinks, in particular those beverages that are ready to drink (Chen, 2012).
  • The making of beverages varies depending on beverages being produced.
  • Nexba is an Australian-based company specializing in beverages (Beverages, n.d)
  • The launch of the company took place in 2010 by Troy Douglas and Drew Bilbe
  • The story of Nexba can be traced back to one hot summer day at a Mexican beach.
  • Today, Nexba can be argued to be the first company offering alternatives which are free from natural sugar.
  • Nexba’s products are stocked in thousands of outlets across Australia.

a) Macro force analysis

  • Macro force analysis, commonly referred to as PESTLE analysis, is applied to outline the external forces impacting a business or constituting its macro environment.
  • In brief, it analyses the political, economic, social, technological, legal, and environmental factors of an organization.
  1. political- Nexba is a non-alcoholic drink and hence adheres to the regulations set by the food safety standards in Australia.
  1. economic-the economy of a nation has a great impact on businesses
  1. social- Nexba is greatly influenced by social factors and it has to stay in line with the culture of the Australian people.
  1. technological- in the presence of the new era in technology, emerging companies like Nexba have entirely integrated themselves with the new developments. One of the recent technological trends that have impacted businesses is social media.
  1. legal- the beverage industry is faced by many legal implications.
  1. Environmental-environmental factors can have an impact on Nexba, but not to a large extent as such factors directly affect the agri-business.
 

Customer Analysis

  • Customer analysis or customer profile is a key section of any business’s marketing plan.
  • It pinpoints the target customers, determines the needs of the identified customers, and finally outlines how the product meets the needs of the customers (Srdjevic, Bajcetic & Srdjevic, 2012).
  • Nexba targets the customers who are dedicated to eliminating sugar from soft drinks.
  • Nexba uses a customer-centric approach to sell its products.

Competitor Analysis

  • An emerging business such as Nexba is bound to face fierce competition from the already established companies
  • One of Nexba’s main competitors is the Coca-Cola Company which recently launched a Coke no sugar drink in Australia

Other Stakeholder Analysis

  • A stakeholder analysis identifies the stakeholders.
  • It also analyzes their needs.
  • The stakeholders are an important aspect of any business

SWOT Analysis

  • A SWOT analysis examines the strengths, weaknesses, opportunities, and threats impacting an organization.
Strengths
  1. produces natural and sugar-free beverages
  1. The company also has any returning customers.
  1. customer satisfaction
Weaknesses
  1. the company has not yet reached the global market
  1. competition with the newly launched coke no sugar beverage
Opportunities
  1. Diversification
  2. Focus on the developing nations
Threats
  1. indirect competitors
  1. raw material sourcing

Problem And Opportunity Statement

  • The major problem facing Nexba is one that affects many emerging businesses. Notably, the company is facing fierce competition from the already established companies such as Coca-Cola especially after the launching of the no sugar coke. Additionally, the company still needs to work on its marketing strategies so as to proliferate the bigger markets.
  • Opportunity-with the many emerging campaigns against sugar drinks due to health concerns, Nexba should take that opportunity to market its products and even go global.

Conclusion

  • Indeed, Nexba is slowly taking over the Australian beverage market as people are starting to acknowledge the health benefits of beverages that are free from sugar and natural.
  • The fact that the company has won multiple awards including Product of the Year 2017 is an excellent indicator that the company is tremendously gaining acceptance and recognition.
  • As such, the company should consider expanding to the global market as similar products such as the no sugar coke are doing well internationally. Also, Nexba should probably use the current technology to market its products.
  • Social media, for instance, has been continuously proven to be a powerful marketing tool and the company should utilize it to reach new customers.
 

References

Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.

Berthon, P. R., Pitt, L. F., Plangger, K., & Shapiro, D. (2012). Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy. Business horizons, 55(3), 261-271.

Beverages, N. (n.d.). Nexba Beverages. Retrieved from https://www.nexba.com/

Chen, L. F. (2012). A novel approach to regression analysis for the classification of quality attributes in the Kano model: an empirical test in the food and beverage industry. Omega, 40(5), 651-659.

Hutt, M. D., & Speh, T. W. (2012). Business marketing management: B2B. Cengage learning.

Järvinen, J., Tollinen, A., Karjaluoto, H., & Jayawardhena, C. (2012). DIGITAL AND SOCIAL MEDIA MARKETING USAGE IN B2B INDUSTRIAL SECTION. Marketing Management Journal, 22(2).

Kolios, A., & Read, G. (2013). A political, economic, social, technology, legal and environmental (PESTLE) approach for risk identification of the tidal industry in the United Kingdom. Energies, 6(10), 5023-5045.

Srdjevic, Z., Bajcetic, R., & Srdjevic, B. (2012). Identifying the criteria set for multicriteria decision making based on SWOT/PESTLE analysis: a case study of reconstructing a water intake structure. Water resources management, 26(12), 3379-3393.

Taylor, M., & Thrift, N. (2013). Multinationals and the Restructuring of the World Economy (RLE International Business): The Geography of the Multinationals Volume 2. Routledge.

Wilson, R. M., & Gilligan, C. (2012). Strategic marketing management. Routledge.

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