The paper "Essentials of Marketing" is a perfect example of a Marketing Case Study. This report focuses on the marketing of the UHT treated flavored milk, which is a product recently developed by Quinncom International Pty Ltd. This new product aims to promote drinking milk. For this report, a marketing plan has been developed which focuses on launching the UHT flavored milk. A marketing plan provides businesses with direction and focuses on attracting and retaining customers. Based on the objectives, the marketing strategy includes segmentation of the market, selection of the target market and analysis of the marketing mix. A situational analysis was undertaken of both the internal and external environment.
From the situational analysis, a number of opportunities and threats were identified. There is an opportunity for Quinncom International Pty Ltd to grow in the market, as the warm climate helps keeps the milk fresh. On the other hand, current threats include that there is a diverse ethnic population, thus satisfying everyone is a difficult task. A targeted approach was used as the combined strategy is beneficial because of the sheer diversity of the Australian market.
As it comprises of a plethora of nations and unique cultures. The variation resulted from varying levels of competition, and independent pricing mechanisms. Their target market consists of important customers of age groups from 3 to 45. The extended marketing mix was used to construct the marketing strategy that is the 7p’ s, product, price, place, promotion, people, positioning and packaging. However, it was found out that in order to carry out such a marketing plan a huge marketing budget will be required. In order for the plan to reach objectives, the most sensible approach to budgeting promotion expenditures was the task method in which the budget is based on the job to be done. Marketing The Australian company selected for the report is Quinncom International Pty Ltd, and the selected product is UHT milk.
With the help of Austrade, they were able to establish a suitable position in the market. This will give them a greater opportunity to adopt marketing strategies for the Australian dairy market. Quinncom International Pty Ltd is already an established entity in the dairy market, being one of the top sellers of milk and dairy products.
The company has a very strong financial background and has enough marketing expertise to capture the entire market. They will be providing Australian milk, as it's highly regarded for it’ s quality. The company will have to develop a planned model that will help them to complete the Australian dairy market. Model - After extensive research, they discovered that introducing the product in their home market was their best option, as Quinncom International Pty Ltd. It is already a known name in Australia.
In the following six months they aim to extensively research the Australian market and evaluate their best opportunities as well as develop marketing plans accordingly. it is their objective to be standing strong in the market by the end of 2011. Quinncom International Pty Ltd will be using only Australian milk. Whereby they will develop UHT flavored milk and other milk products.
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