Marketing Plan Australian Domestic Market

Question: Discuss about the Marketing Plan Australian Domestic Market. Answer: Introduction In Australia, the main market that is not frequently relied upon for dairy products is the Australian Domestic market. Apparently, most of the people living in Australia love and feed on dairy products and thats probably the reason why they view dairy products as a very important and vital product for their growth. Market issues and problem analysis The Australians view the domestic market as the best for their dairy products and so do not even have the pleasure of looking for other better markets outside their country. However, since the largest percentage of the sales are those from the exports which is 60% and 40% for domestic sales, then it means that the sellers have no idea of which market is good for their products. Despite the fact that Australians view their domestic market as the bestmarket for their products, the consumption levels in the country is lower than that from outside. From the graphs below, it is clear that the markets are facing some major problems especially with the cheese product. The sales of cheese are fluctuating with every year but those of butter are constant and high as the years pass by. In the beginning of the life cycle, the cheese sales are very low and go increasing with time and then decrease once more while those of butter are high in the beginning but change with just a small variance. How ever, these problems can be solved using the following marketing tools: Sales Promotion The organization find a way if increasing the sales of cheese especially in introductory stages or years of the product. Some of the promotion methods include: price reduction, offering discounts on batch buying, giving free samples of the product for trial to name a few. This will really boost its sales for both nutter and cheese. Advertising Advertising is a way of making the product be recognized and known by the current and potential consumers. The organization should make investments in advertising so that the different varieties and brands of products can be known by the public and especially in the first stages of its products cycles. Price setting By setting the prices of its products as reasonable and affordable by every consumer then it will be able to increase the sales especially in the first stages of the products life cycles. This is because in the business world the customers will always look for cheap but quality products. Product quality This entails offering good quality products always. Therefore, despite the branding. Packaging or target consumers, the products should always be of good quality to be able to attract more customers. Marketing ideas and recommendations Building on the current community- the market should try not to overlook its current consumers just because they are sure of their loyalty and instead they should treat them even better. Knowing the consumers positions- by knowing where the consumers are situated, it will help them to plan how to position their marketing. Development of personal connections- by using the products to have personal connections with the consumers, the sellers will shoe that they not only care about selling the products but also the welfare of their customers (Reid et al, 2005). Use of media to advertise and sell- especially the use of internet and the social media cane help in advertising, promoting and selling of the products as well as conveying a lot of information to the consumers. Develop joint ventures- this will help the markets have a more connected market segment and share that they will be able to sell not only in the domestic markets but also the other markets. Portfolio Matrix Market Growth Rate Relative Market share It is used to indicate a products market share and its growth position in the industry. Stars are products in a relatively high market share and in an industry with a high growth rate and in this case its the milk. Question marks are the products in a high growing industry but have a low market share which in the case of Australia is butter blends. The cash cows are products with a large market share but a poor or slow growing industry which in this case is the cheese products. The dogs are the products in a low growing industry and having a low market share where buy in this case is yoghurt. Approaches to monitoring and reporting Approaches that can be used in monitoring and reporting on strategic marketing performance include: Through doing sales analysis- by doing the sales analysis, one will be able to know how marketable they are, the market status, their market segment and market share among other things. By doing market research- This will help the business people to know their competitors, the organizations market position, market status i.e the levels of demand and supply to name just but a few benefits that may be realized. Doing a market share analysis- By analyzing its market share, a business organization will be able to predict the amount of sales and profits they can make, they will know their consumer population and type, their competitors products among other things. Another approach can be to do surveys on the location of their customers- By finding out the positions of their current customers and potential customers, a business organization will likely be in a position to monitor and report about its strategic marketing performance. If they have maintained their customers and many more want to buy their products, then it has succeeded. Conclusion In conclusion, Australia needs a lot of help to help market and expand its products markets. 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