Competitive Strategic Marketing Plan

Question: Discuss about the Competitive Strategic Marketing Plan. Answer: Introduction The strategic plan is based on the launch of Australian Certified Organic Potion in Australian market. The boutique is committed to prepare the comprehensive and creative potion, which can revitalise the body and mind. The consumptions of this potion are energising the skins. The potion is prepared with natural oil, herbal, and plant extracts and these ingredients are much beneficial for human skin and health (Smyth 2013). The study will be structuring the strategic marketing plan for launching this product in Australian market. The establishment of the SMART objectives will be beneficial for understanding the aim of the strategic marketing process. The discussion of the core strategy and marketing mix plan will be developed in this study. Marketing Objectives Concentrating on the product launch factors, the following objectives will be preferable for structuring the marketing plan. To understand the market demands of the herbal potion in Australian Market Specific This objective is specific because it derives the knowledge about the demands of the herbal products in the Australian market. Measurable It is measurable because the responses from the customers can be measured to identify the demands. Attainable It is attainable because the product brand can get hold of the customers responses. Realistic It is realistic because the responses derived from the customers will determine the establishment of the marketing functionalities. Time Bound The information can be gathered in the first week of the marketing process undertaken by the boutique. To achieve almost 10% of the benefits by selling the products among the Australian customers. Specific This objective is specific because it is provides the knowledge regarding the business motif. Measurable It is measurable because there is the specific measurement of the expected benefits. Attainable It is attainable because the demands of the products, which are good for health and skin. Realistic It is realistic because achieving the expected amount is quite real since the market demands are preferable. Time Bound Within 12 months, the target is expected to be achieved. Marketing Strategy The boutique provides the health vitalising treatments by providing the moisturising potion that energises the body and minds (Peppers and Rogers 2012). In this current world, people are much conscious about their health and healthy living (Fifield 2012). Moreover, after the hectic schedule, people appreciate the relaxed atmosphere. In addition to this, the effective health and skin care products are much demanding for the health conscious people in Australia. The SWOT analysis process is providing the insightful knowledge regarding the marketing opportunities considered by this organisation. However, concentrating on the underlying issues and identified opportunities, the proper marketing strategies are needed to be taken into account. It is noted that the application of Porters Generic Strategy would be much fruitful in establishing the proper marketing strategies. Michael Porter introduced the strategic model for ensuring the competitive business establishment. Porters generic mod el includes four different dimensions, such as cost leadership, differentiation, cost focus, and differentiation focus. The analysis of these different dimensions is described further: Cost Leadership According to Westwood (2013), porters generic strategies are formulated for achieving the competitive edge more significantly. The cost leadership strategy is one of the major components in this strategic model. It involves the overall cost of the market or the industry. In case of Australian Certified Organic Potion, it is necessary to gather the ideas about the market demands. If the market demands are high then the higher price of the products or services will be beneficial. However, it is noted that majority of the customers ignore the high pricing structure (Morgan et al. 2012). On the other hand, keeping the product price extreme lower decreases the product value in the market. Therefore, it is necessary for the boutique to structure the pricing factor in a competitive way. The efficient logistic system will be much helpful in such cases. The capital amount is needed to be invested in the application of the innovative technologies. In fact, cutting costs from the competitors will also be much beneficial for the boutique to promote the products. Differentiation Strategy The differentiation strategy is determining the unique characteristics of the products or services that are offered to the customers (Tanwar 2013). If the product or service features are unique to the customers, it will gather their attention more significantly. Hence, Australian Certified Organic Potion boutique needs to keep the focus on the value added services for the potential customers. In such regards, the boutique needs to be much attentive towards the functionalities, durability, and features of the offered health and skin care products and service. The maintenance of the proper innovative services and high quality products will be effective enough in drawing the attention of the customers. The Focus Strategy and focus differentiation The focus strategy is mainly concentrating on the particular market niches or dynamic environment. While introducing the product or service in the market, the company or any institution needs to pay the attention on the particular market segment, such as market competition, product or service demands, or the pricing strategy (Tanwar 2013). Concentrating on such particular market niches is much fruitful for understanding the product or service requirement for facilitating growth opportunity in the competitive market. Keeping the focus by analysing the differentiation of the features will be much beneficial in generating the customers supports in this competitive business environment. Concentrating on the above analysis, it is noted that the Australian Certified Organic Potion boutique needs to pay attention to the unique features of the products or services that are to be offered to the customers in Australia. The maintenance of the uniqueness is fruitful for gathering the supports from the potential customers (Kotler et al. 2015). Moreover, the proper communication with the customers will suggest the specific needs that are effective enough in strengthening the competitive position of the business. Marketing Programme The above analysis is providing the insightful ideas about the relevant marketing strategy that can be undertaken for establishing the competitive position in the business market. However, considering the suitable marketing strategy, it is necessary to structure the marketing programme by analysing the 4ps of marketing. These 4ps of marketing is descried further: Product: The body and soul vitalising products are offered to the people in Australia. It is noted that the customers have been leading the hectic life by spending their time in office, colleges, schools, and other activities (Ibrahim 2015). Therefore, they appreciate the body vitalising services and health and skin care products. It provides them the enough relaxations that are necessary for dealing with the regular hectic life. Hence, the product features are essentially needed to be described to the customers. It will be launched in the Australian market and will be in a trial period of 12 months. If the products create the traffic buzz, it will be launched for the lifetime period. Price: The pricing structure is necessarily needed to be implemented in a competitive way. It is noted that many of the people ignore the products or service due to the high prices. On the contrary, if the quality of the products is high, it will create effects on the customers minds (Resnick et al. 2016). They will be willing to purchase the products at any cost. However, in order to provide the quality products or services to the customers, it is necessary to invest the capital amount on the innovative technologies. The maintenance of the proper pricing structure ro=to draw the attention of the customers. Place: The place or the distribution channel is one of the major components for structuring an efficient marketing plan (Smyth 2013). It is noted that the people in Australia are much health conscious. This product may create the significant buzz among the adults and young people. The products thus can be kept in common grocery shops, medical centres, nearby parlours, or any other nearby accessories shops. Promotion: Product promotion is one of the most beneficial processes of gathering the customers supports. The effective promotional process helps in conveying the messages to the customers regarding the products features and usefulness (Peppers and Rogers 2012). However, it is necessary to select the proper media for promotional activities. The boutique can select TV, hoardings, leaflets or pamphlets for making the customers aware. The most preferable media of promoting such products is via online media sources. People go though many of the search engines for health or skin tips. Therefore, promoting the products in the online media channel would be much beneficial in gathering the responses of the customers (Hollensen 2015). Moreover, the traffic buzz created in the social media sites would be much helpful in determining the positive word of mouth. Hence, with the help of such structured programme, the entire marketing plan is needed to be executed much significantly. References Fifield, P., 2012.Marketing strategy. Routledge. Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Ibrahim, A.B., 2015. Strategy Types and Small Firms' Performance An Empirical Investigation.Journal of Small Business Strategy,4(1), pp.13-22. Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015.Marketing. Pearson Higher Education AU. Morgan, N.A., Katsikeas, C.S. and Vorhies, D.W., 2012. Export marketing strategy implementation, export marketing capabilities, and export venture performance.Journal of the Academy of Marketing Science,40(2), pp.271-289. Peppers, D. and Rogers, M., 2012. A new marketing paradigm: share of customer, not market share.Managing Service Quality: An International Journal. Resnick, S.M., Cheng, R., Simpson, M. and Loureno, F., 2016. 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