Profile International Markets - Marketing plan
Task: In this assessment you are to consider a product or service that you think may have a good potential international market. It may be an existing product, a slight twist on an existing product in the market or an entirely new product. You are free to choose the product or service.
In your team, complete the following.
1. Select a product or service.
2. Determine the suitability criteria.
3. Research potential international markets.
4. Identify, describe and define the marketing terms of consumers.
5. Select the target segments.
6. Write a consumer profile of the target segments.
7. Work on your own to:
8. Develop marketing and distribution options
9. Develop and document a positioning strategy, including at least two options
10. Write an implementation plan.
11. Write and present the consumer profile, the positioning strategy and implementation plan to the assessor individually.
CASE STUDY ANALYSIS
Staffing support plan
Task: You are required to read the short case studies of segmentation and answer the questions which relate to them.
Case study
Sno's Hay and Feed has developed a new method of compressing and vacuum packing Lucerne hay, which keeps it fresh for more than three years. The invention has several benefits for the long term storage and use of Lucerne hay over traditional methods of baling and storage.
The benefits include:
- reduced transport costs by 75%
- reduced storage costs by 75%
- dramatically extends storage time in hot, dry weather and hot, humid weather
- retains its visual appeal by remaining green inside the block and on the exterior if a black plastic bag is used for vacuum packing
- reduces risk to horse owners and breeders of the vagaries of fresh chaff-supply
- dramatically reduces the risk to horses of mould in humid weather
- reduces risk to farmers supplying Lucerne to Sno's business of the vagaries of supply and demand
- Lucerne hay itself is a high protein natural feed that is highly suitable for horses that are 'working' to keep them in condition with good muscle mass.
The competition for the new product are:
- traditionally baled Lucerne hay, which takes eight times the space and becomes dry and dusty over a period of a year
- compressedLucerne hay with additives that subject the product to mildew attack
- pelleted compressed Lucerne hay, which becomes dry and dusty if not used quickly
- grain feed which is much more expensive but higher in protein content
Sno conducted research into export markets by:
- investigating Austrade data on exports of hay, Lucerne and other feeds
- investigating Austrade data on export of live animals
- investigating supply requirements in Japan through an importer of hay and hay products
- investigating the horse racing industry in the Middle East, Japan, Singapore and Hong Kong Sno identified the following facts and figures.
The global export market for hay products in 1997 was reported as being valued at $1.058, with the vast majority being exported to Japan and the major stippling country being the US.
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Typical importers
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1997 values AU$(million)
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Typical exporters
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1997 values AU$(million)
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Japan
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900
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Australia
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50
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Middle East
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40
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USA
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760
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Taiwan
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15
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Canada
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15
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Korea
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30
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Taiwan
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Hong Kong
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10
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Macau
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2
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Singapore
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2
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South East Asia
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6
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Note: Taiwan exports rice straw and imports high quality fodder for its dairy industry.
Live cattle exports were valued at $600M, consisting of approximately 600,000 cattle requiring 1.3 million tonnes of fodder.
Exports to Japan needed to be proven to be bio secure by testing through the Australian Quarantine and Inspection Service.
Sno also identified that to be successful in the Japanese market, packaging and labelling needed to be of a higher standard than he used in sales to Australian horse owners. The packaging he currently uses is black polypropylene, to cut out light to maintain a fresh green look to the Lucerne when it is opened. The labels are computer generated with a simple layout and with the minimum information required by regulation printed on a white label.
Sno identified the following export segments.
- Dairy industry in South East Asia and Japan.
- Horse racing industry in Japan, Singapore, Hong Kong and Middle East.
- Leisure horse industry.
- Live cattle exports to the Middle East, Malaysia and Indonesia.
Sno identified hismarket as horse owners and wholesale suppliers of horse products in Japan and the Middle East. Sno determined the total market to be worth at least $200M being 20% of export chaff for horses. Sno preferred Japan because of its size of market and its proximity to an Australian time zone.
Sno identified his target segments as:
- owners and trainers of race horses in Japan
- dairy industry in Japan
3. What was Sno's ositionin strate
4. What additional data would have been hel ful to rioritise Sno's marketing options for the Japanese market?
5. What issues was Sno likely to encounter culturally with his current plan?
6. What targeting strategy did Sno use?