Preview text 401 – MarketingCLAY GERVAISQantas Airlines“Marketing Audits, Plans and strategies”1401 – MarketingTABLE OF CONTENT1.0Introduction. 22.0 Marketing Audit. 32.1 PEST Analysis.
32.2 SWOT Analysis. 42.3 Porter’s Five Forces analysis. 42.4 Ansoff’s Matrix Analysis. 53.0 Qantas Airlines Macro Environment. 53.1 Political Factors.
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63.2 Economic Factors. 63.3 Social Factors. 63.4 Technological Factors.
The Marketing Audit Comes Of Age. Philip Kotler, William Gregor and William Rogers. Comparing the marketing strategies and tactics of business units today versus ten years ago, the most striking impression is one of marketing strategy obsolescence. Ten years ago US, automobile companies were gearing up for their second postwar race to produce.
64.0Qantas Micro Environment. 75.0Qantas Marketing Research. 86.0 Qantas Marketing Intelligence and Market Position.86.1 Marketing Intelligence. 86.2 Market Positioning. 97.0 Marketing Segmentation and Targeting. 107.1 Segmentation. 107.2 Market Targeting.
118.0Buyers Behavior. 119.0Corporate Strategy & Marketing. 1210.0 Conclusion.
13List of FiguresFigure 1: Porter's Five Forces (Cgma.org, 2014).4Figure 2: Airlines Market Share.7List of TablesTable 1: Ansoff's Matrix Growth Analysis.52401 – Marketing1.0 IntroductionAustralia is considered among the strongest of advanced economies as per the Organization forEconomic Co-operation and Development (OECD). This was due to the low employment, lowinflation rate, skilled workforce, and the strong links it has with the fastest growing region in theworld; the indo-pacific. Nonetheless, in order to be successful even in such stable economicregion, an organization must establish a competitive edge and sustain it. Thus, maintaining acompetitive edge in any organization is considered a very vital concern for any successfulorganization. There are many variables and factors that affect organizations’ operations andultimately leading them to bankrupt or sell out.
Therefore, in order to sustain a business andmaintain that competitive edge, different strategies and approaches in management, finance,marketing and technology should be implemented. One of these factors that most successfulcompanies are found to be extremely focusing on is Marketing.
Understanding andimplementation of marketing audits, plans and strategies help shifting the company’s position inany market that this company is targeting. In this report, an Australian airline company (Qantasairways) is considered to examine its marketing plans, audits and strategies.
Qantas Airlines isconsidered one of the oldest and successful airlines present in our world today. Qantas, whichstands for Queensland and Northern Territory Aerial Services Limited, was formed in 1920 inthe Queensland outback and has evolved to be Australia’s largest domestic and internationalairline as well as globally regarded as the leading long distance airline and one of the strongestbrands of Australia. However, during all this time, Qantas has gone through different problemssuch as rigorous competition with middle eastern and Asian airlines as well as the raise in fuelprices, increased security measures and so on.This report will tackle initially the marketing audit in general and its importance. Then, thedifferent tools of the marketing audit such as the SWOT analysis and Porter’s Five forces will bediscussed in order to be able to utilize them to establish the factors that affects the macro andmicro environments of Qantas Airlines. After that, the marketing plan and strategy will beexpressed in order to identify the correct path that the company will undertake to achieve thegoals and objectives set by the directors. Later on, different market segments will bedistinguished for both consumer and business markets in terms of geographic, demographic,psychographic and behavioral aspects.
Upon identifying the segments, the method of targetingthe correct segment will be elaborated and the resulting market position will be established.Likewise, the buyer behavior will be explained in order to demonstrate that understanding thebuyer behavior will indeed assist the company enhance the attractiveness of their promotionswhich will eventually increase their sales. Finally, a link between the marketing auditing,planning and corporate strategy will be established and discussed to determine differences andsimilarities and its importance in the overall sustainability of organization.4401 – Marketing2.0 Marketing AuditOrganizations in the modern days have greatly acknowledged the importance of marketing. Overthe years, marketing audits were developed that greatly contributed in evaluating the marketingpractices of any organization as well as helping in determination of problem areas andopportunities at which helps in generating a recommended action plan to improve theorganizations’ marketing performance. In this section of the report, marketing audit tools will beexplained that are used in any marketing audit.
These audit tools are as follows:2.1 PEST AnalysisPEST stands for Political, Economic, Social and Technological. As they imply,these factors are external factors at which they have a great impact on anorganization’s businesses activities or performance. (Brooks, 2013) This tool greatlyhelps identifying the macro environment that surrounds Qantas at which it has no orvery little control over it. Basically, each factor must be analyzed and understood inorder to obtain the best out of the PEST analysis. Hence, each of the followingdescribes each factor:5Political:o This factor looks into government regulations and legal issues atwhich it can have a great impact on the organization’s business. Suchaspects could be taxes, political stability, employment laws,environmental lawsetc.Economic:o In this factor, an examination of economic growth, inflation andinterest rates, business cycle, and unemployment policies.Social:o An analysis of demographic and cultural aspects will be conducted inthis factor that helps establishing the possibility of a business toobtain a competitive edge in a market. Furthermore, it assists indetermining the consumer needs that when met, can be utilized todirect the consumers to their own products.
Aspects such aspopulation growth rate, age range, attitudes towards work and healthand environmental consciousness.Technological:o Technological edge or availability contributes greatly in obtaining acompetitive edge. Understanding this factor in terms of the life cycleof present technology, role of the Internet and the impact of potentialtechnological breakthroughs.susceptible401 – MarketingNew Entrant Threats: New Zealand AirlinesPotential substitute products2.4 Ansoff’s Matrix Analysis:Invented by Igor Ansoff, The Ansoff’s Matrix Tool is another great marketing toolthat assists in mapping and matching the strategic corporate product with marketgrowth.
Marketing Audit Report Essay Sample1. Executive summaryNowadays restaurant business is one of the most attractive and at the same time most competitive business industrys. It has been proven that tMarketing Audit that is a generally accepted method of evaluation and a control mechanism of marketing performance.This report hasused systematic evaluation of plans, objectives, strategies, activities and organizational structures as well as marketing information. In this report Pakistani restaurant Hot n Spicy, was analyzed based on the learned theories and practicalknowledge and experience.2. Introduction to the restaurant industryThe Restaurant industry in the United Arab Emirates, particularly in cities like Dubai and Abu Dhabi, has been experiencing fast-moving increase as one of the largest international chains established restaurants that have been attracting an increasing population from around the city.
Main sources for the rapid growth in restaurant numbers have been changeover in lifestyle which is accompanied with economic development, alteration in the Middle Eastern eating habits influenced by fast growing globalization, the influx of expatriates into the country and franchise availability. (UAE interact, 2013)In pursuance of the words of Uzair Anjarwalla, who is a managing director in international food marketing company Bridgepoint Foods, Food &Beverage (F&B) at this month’s SIAL Middle East Conference thefood sector is worth US$4 trillion worldwide with steady growth rates, while the Middle East is one of the fastest growing regions within the industry.
He also added that the biggest advantage that F&B start-ups have over their multinational counterparts is innovation. (Alpen Capital, 2013).3.
Research methodologyThe research methodology involves 6 steps:1) Program planning2) Survey development3) Survey deployment4) Data analysis5) Reporting6) Consultation and reviewResearch methodology describes the methods which company uses to carry out research. It includes the learning and application of the various techniques that are used in the research.According to the Hot n Spicy Restaurant Management their main objective is to know about the buying pattern, behavior and lifestyle of their target market. Also the said managementneeds to find out the customers lifetime value, their opinion about the restaurant and their intention to revisit restaurant. Accordingly the said management used the following two methods:1) Surveys and QuestionnairesSurveys are conducted in a form of comment card, which includes rating scale of the food, service, and recommendations column where customer gives recommendations and suggestions. Also, the said restaurant conducts surveys about their target markets income, position, preferences in food, lifestyle they follow etc. In addition, Hot n Spicy does surveys after providing free food samples to customers by asking questions about the dish, about improvements that should be made, and the necessity to include it in its menu. 2) Observation.The Hot n Spicy sees the observation tool as an effective instrument for research by appointing different people.
They train them to observe their customers as well as the customers of their competitors and competitors.4. Company’s profileAccording to the history of the Hotnspicy restaurant, nearly 20 years ago, founder of the brand popularized the traditional Pakistani paratha roll. Nowadays branches of the original restaurant popped up in several cities by the names of Red Apple, A-One Snacks, Tikka Inn and Roll Inn in Pakistan. The same team of dedicated and experienced chefs started working in new restaurant in Dubai (United Arab Emirates). The restaurant opened in one of the business centers in Dubai, TECOM.The main aim of restaurant is to capture huge market by providing variety of products under one roof. (Jaqui Malpass, 2005-2011). They are constructing an open air dinner area at the terrace of the restaurant’s building and have constructed their mezzanine floor equipped with air conditioners, fancy benches and shining tables.
They are offering more than 150 different products, including Pakistani dishes, fast food, continental dishes, deserts, and beverages respectively. (Hot n Spicy, 2012).5. Marketing philosophyHot n Spicy’s mission is to develop an unmatched quality food by adding authentic Pakistani taste through an integrated and sustainable system to give customer a value, which guaranteed company’s growth.The vision of this restaurant is to beyond the customer’s expectations by trying new ideas. The restaurant’s philosophy is about the importance of satisfying the customer’s needs in order to achieve the restaurant’s success. Products are developed around those customers’ needs and wants.6. Marketing Environment6.1 Microenvironment6.1.1. The CompanyCompany’s wider marketing environment is external to business and thus is something that the company has no control of, and probably very little influence on.
Therefore, this requires the company to perform on going process for monitoring important influences and o assesse what response is requiredto be made.By maintaining an awareness of what is going on in the marketing environment, the compnay will be in a better position to plan for any developments that may affect the business.Also, the internal environment of the organization helps to make it a viable business, and therefore, plays a role in marketing’s microenvironment. This includes top management, marketing personnel, and all other departments and personnel employed by the company.There are about 65 to 75 employees in one restaurant and management structure consists of owner, managers, cashiers, supervisors, kitchen staff, waters, clearners and delivery staff.The restaurant has electronic system and guard for the protection of their valuable customers. Employees are providing better service for customer satisfaction. Managemnt and marketing departments create a friendly environment within the business to motivate employees to work hard by providing incentive such as commission and bonuses.6.1.2 SuppliersSuppliers are firms and individuals that provide the resources needed by the company and its competitors to produce goods and services. They following points are an important for the company to maintain overall ‘value delivery system’:1) To monitorsupply availability, including shortages;2) Monitoring price trends of critical materials.
Rising supply costs must be carefully monitored.Hot n Spicy usually deals with local and Pakistani suppliers. Some of the ingredients that could be found only in motherland, so that they are imported in required quantity. The main advantage of work with local suppliers is getting fresh supplies of products that are needed for the restaurant. But company has a little disadvantage; it is stable relationships with suppliers, so that company doesn’t look for a new partner in this sphere of business. 6.1.3 Marketing IntermediariesMarketing intermediaries are firms that help the company to promote, sell, and distribute its goods to final buyers.Physical distribution firms help the company to stock and move goods from their points of origin to their destinations. In case of Hot n Spicy, delivery department and restaurant’s warehouse are the main and only physical distributor of it.Marketing service agencies (such as marketing research firms, advertising agencies, mediairms, etc.) help the company target and promote its products.
Company usually uses the services of marketing research companies and advertising agencies, to promote the restaurant. Financial intermediaries (such as banks, credit companies, insurance companies, etc.) help finance transactions and insure against risks. The main Hot n Spicy’s financial intermediarie is the insurance company, that gives secure position for restaurant. 6.1.4 CustomersThe company must study its customer markets closely since each market has its own special characteristics.
Restaurant’s main customers are people who are from 18 till 42 years old, who are working in TECOM area, and people who love home delivery food. 6.1.5 CompetitorsEvery company faces a wide range of competitors.
A company must secure a strategic advantage over competitors by positioning their offerings to be successful in the marketplace. In the restaurant’s location, there are lots of restaurants, but none of them is offering Pakistani food.6.2 Macroenvironment (PEST Analysis)6.2.1 PoliticalThe company has to look to the various developments of politics, when is it creating its marketing strategy regionally, nationally and internationally.Also to glance to the weight and measures turns that makes is essential for classifying a product.Even regional factors are considered and come from environmental actions. Regional factors can come from just environmental acts, where their factories are built and whether it is.The restaurant needs to be ready for Audit at all times in order to comply with the UAE legislative norms.Consumersspending depends on the degree of their interest and this may affect the strategy.
In the economical variable market, the restaurant must make price adjustment to compensate for cost inflation and economical crisis, etc.6.2.3 Social and culturalSocial and cultural influences refer to customers’ taste and lifestyles and the way these affect their buying behaviour. Demographic changes are also important; an ageing population is highly predictable as it will have an impact on many areas of the society. People belonging to the same culture share similar values pertaining to work ethics, food cuisines etc. Going even deeper would come up with sub-cultures that would include similar music preference, fashion and shopping tastes etc.The restaurant combines various dishes to satisfy multicultural customers.6.2.4 TechnologicalDevelopments in technology can enable company to develop new products or services. It can allow existing products to be produced and existing services to be delivered more cheaply. It can enable to serve customers at their convenience. And it can provide new ways to communicate with customers.Hot and spicy had dramatic changes in using new technology; it became faster and well organized.
There has been an improvement on communication also on product marketing. As it was done by the word of mouth but now it changed to major media tools for advertising such as Internet -where also customers can order online-, television, magazines, flyers that make promoting products to the consumers much easier.7. SWOT Analysis7.1 StrengthsBasically SWOT analysis is a scan of company’s internal and external environment.
The terms that comes in the internal part are strengths and weakness, and those are external to the firm classified as opportunities and threats (Al-Kaabi, 2007). That’s how the company, which is audited, has agreat amount of research and analysis on their internal as well as external environment. We will go on each of the terms one by one.According to the analysis of management of Hot n Spicy, the main point on which they have an edge is on the experience of food taste as the company is operating in Pakistan for about 23 years, with 10 branches and three brand names.The other things that company thinks are its strengths in providing various products. The other concepts that they think comes in their USP are good quality food, high quality delivery packaging and freshness of every dish.
There are many restaurants around them but no one can compete with the restaurant as their food taste totally different. The restaurant future plan is to target the untapped market where there is no Pakistani restaurant operating.7.2 WeaknessesFrom the business perspective, weaknesses are based inside of organization. It deals with business infrastructure, so that it was not overaged or not up to dated, if there are used out of date technology, are there financial problems, poor distribution network or leadership instability (Steven Bell)The weaknesses that Hot n Spicy thinks that can affect them is the lack of experience in internationalization. They were operating in their home country for about 23 years and it is their first experience to operate outside their country so they think that it might affect them at any place. The other weakness is the lack of knowledge about the local market.The restaurant needs to spend more time on surveys and observations, which are expensive and time consuming.
The third thing is unidentified consumer buying behavior, in Dubai where there are many nationalities and the Restaurant Managemtnt lacks knowledge about people’s tastes and preferences, and therefore, analyzing such behaviours is a must.7.3 OpportunitiesOpportunities are external factors of which company can take benefit in the form of expanding or profit maximization. One of the opportunities is development in the operating market in the form of technology, product, trends, lifestyle, consumer’s behavior or innovation or it changes due to global influences (Lawrence G Fine, 2009).According to our group analysis and words of the company’s manager, main opportunity is to increase customer base. As population of Dubai is increasing, their target market which are mostly south Asians, has a good percent in the total population of Dubai. The second opportunity that they see is possibility to expand on new markets of new Dubai like Meadows, JLT, Jumeirah Village, Arabian ranches, motor city. There is no professional companies, that are specialized in Pakistani food.