Marketing essay on: Market research of organization – Fosters
- Executive Summary:
This marketing plan would help Fosters to perform a marketing research which would help the organization in order to perform a marketing audit. The marketing research designed for Fosters will majorly keep in mind the promotional aspects for the same. The marketing research would be conducted by focusing upon the research questions which have been highlighted in the later part of this report.
This research design framed keeping in mind the promotional aspect would focus on the various aspects which would affect the Fosters in near future. This marketing research will take into consideration the answers for the question, discuss how the business decision influences decision & will affect the success of the airlines.
It shall be taken into consideration that, Fosters shall adopt various promotional strategies which will help the airways to have a competitive edge over its competitors. The promotional strategies shall be such which will help Fosters to attract more number of flyers towards in comparison to its immediate competitors flying on the same route.
- Marketing Plan – Fosters
2.1 About the Company
Foster’s Lager has been referred to as an internationally distributed Australian brand. Fosters is mainly known for its beer. The brand Fosters is being used over other beers including Foster’s Premium Ale, Foster’s ESB, etc. In the recent years, Fosters has led to high levels of increase in the levels of beer cans sold. The number has crossed the figure of 5million amongst the countries such as UK, USA, Australia, etc. It has been seen that, Fosters make the second best beer after Carling. It has been seen that, the international market Beer only focuses upon the Australian market but Fosters does not complete enjoy its connections in the Australian market (Zahorsky, 2012).
Based upon the marketing strategies it can be seen that, Foster’s Lager does not enjoy a widespread success in Australia. Therefore, Foster’s shall take into consideration various promotional strategies which will help in increasing the success rate of Fosters within Australia. The organization took into considerations different types of advertising but still was unable to prove its popularity within the Australian market (Zahorsky, 2012). In the end, Foster’s was not viewed by the customers as a “premium” brand for beer. Its sale was unable to grow in the Australian market. Keeping in mind this problem, Fosters shall try to upgrade its promotional strategies which will help the enterprise to capture high levels of sales in the Australian market.
- Business DecisionThe business decision which shall be taken into consideration by Fosters in order to upgrade its business in Australia would be to take up steps which will help in the better promotion for the same.
The main business decision for Fosters shall be to upgrade its promotional strategies which will help the enterprise to capture high levels of sales in the Australian market.
Formulate a Research Question
The marketing research would be conducted by focusing upon the research questions. The questions have been highlighted in this section of the report. They are under:
Þ How can we reach the new customers in a better manner?
Þ What promotional strategies shall be taken into consideration which will help to increase the attractiveness for Fosters?
Þ Perceived promotional strategies by Fosters
3.1 Design a Research Project
Promotional marketing refers to a business strategy which shall be adopted by Fosters in order to stimulate a customer to take an action which will help them to take up a buying a decision. Some of the techniques which shall be used by Fosters reach the new customers in a better manner have been highlighted as under:
Þ Contests: It has been seen that, people always enjoy winning something in free. Hence, contests will provide an offer which will act as an attractive vehicle for the business houses to create awareness as well as attract new customers towards then. It shall be noticed that, Fosters shall undergo the same in order to capture more market in Australia. Fosters shall provide a valuable prize to all those who participate within the contests (Zahorsky, 2012).
Þ Coupons: The next promotional technique which shall be used by Fosters to enhance their sales within the Australian market will be with the help of coupons. Based upon the survey conducted by CMS, approximately 76% of the population uses coupons as a tool for promotion. For Fosters who have already tried their luck by using different types of advertisements coupons will be referred to as an apt promotional strategy.
Þ Sampling: Fosters has been referred to as a well known brand of Beer. Therefore, proving the customers with a free can of beer will help to increase the profit levels in terms of number of customers who will prefer the same. With the help of sampling of the Beer Cans (Fosters) will create a buzz about the drink which will help in better promotion of the same. This technique of promotional marketing will help to make Foster as the highest beer selling enterprise.
In order to carry out powerful promotional marketing campaign within the organization i.e. Fosters carefully planning of the objectives shall be done. The following questions shall be taken into consideration by Fosters. They are as under:
Þ The main target audience for the promotional campaign. The competitors, customers as well as the existing clients who haven’t made any purchase for the same in the last 12 months
Þ What is the advertising budget & what is the promotion tool or vehicle which shall be taken up by the organization i.e. Fosters to exceed its promotional budget. The promotion tool or vehicle shall be such which will help to attract more number of customers towards it as compared to its competitors.
Þ Which of the above mentioned promotional technique fits best with customer base (sampling, coupons or contests).
Þ How will Fosters get to know regarding the success of promotional marketing? A clear goal as well as objective shall be framed by Fosters to measure the results.
Þ Is the promotion strategies followed at Fosters is in compliance with State & Federal Laws. The promotional marketing incentives shall comply with the various types of laws.
3.2 Business decision influence business decision
The main business decision which is being taken into consideration in order to upgrade the business of Fosters in Australia by using different promotional strategies has been discussed as follows:
Þ Promotion of what the customer is willing to buy shall be done. This will help the enterprise i.e. Fosters to have a clear view as to what the customers really want & how can they modify their product in order to satisfy their needs. Promotion will play an important role as it will lead to better results from all the marketing which is being done to focus upon the problem as well as the benefits of the same.
Þ Make your presence feel on Google Places or blogs or any other social media sites. This will help to reach the large masses in a limited span of time. The listings done over Google places provide the masses with a fair review regarding the beer offered by Fosters.
3.3 Business decision will affect the success of the business
The business decision will affect the success of the overall business by adopting the following strategies mentioned below. They are as follows:
Þ Distribution Innovations
The first technique which shall be used by Fosters is in regards to the attainment of high levels of success will be with the help of innovative distribution. Fosters shall make collaboration with any of the leading retail stores which would help the beer made by Fosters to be available at various places in Australia, etc. The Fosters beer would be made available through these channels as well. This would help in order to expand its relationship with the growing economies (Monroe, 2005).
Þ Niche Product Innovations
The second technique used by Fosters in regards to the attainment of high levels of success will be with the help of targeting the niche products. The Fosters liquor is one such product which has led to an increase in the revenue generated by the same. Such type of products would be made available at all the wine & liquor shops as well as the leading retail stores in Australia (Kotler, Gregor & Rodgers, 2010).
Þ Innovations in Entertainment
The last type of technique used by Fosters in regards to the attainment of high levels of success will be with the help of innovation in entertainment. This means that, the overall packing of the beer bottles or the beer cans shall be eye catchy. This will help to attract more number of customers towards it. The beer cans or the bottles shall be in better shape & quality as compared to its competitors (Berry, et al 2007).
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