Business Quality and Market Performance †MyAssignmenthelp.com

Question: Discuss about the Business Quality and Market Performance. Answer: Introduction: This is the report that focuses on the company called Samsaras marketing plan. As the company has launched the new aluminium suitcase in the Australian market thus it is required to implement some of the market strategies in order to make the people aware about the products and the brand along with achieving the saes target (Peter Donnelly, 2011). The report focuses on the marketing objectives of the company. The discussion follows with the explanation of the market segment and the target market that needs to be targeted for the products sale. Strategies of marketing on context to 4Ps have also been discussed. As far as the marketing objectives of the company are considered, the company needs to focus on 3 objectives: Sales target: The sales target of the company is to achieve the break-even point in 6 months of the products launch. The sales should be of around $2 million in 6 months. It is very much required by the company to achieve this sales target so that it can attain the BEP within 6 months (Hollensen, 2015). Brand awareness: It is required by the company to develop brand awareness among the customers. This is because if the company wants the products to be sold, it is required to make the people aware about the existence of the brand in the market. This requires the company to develop promotional and branding strategies so that more and more people get attracted towards the brand over the competitors (Armstrong, Kotler, Harker Brennan, 2012). Customer retention and satisfaction: It is very important to satisfy and retain the customers so that they can make repeated purchase with the company and also advertise about the company by word of mouth. The product like suitcase is the thing that needs to be durable as it is not purchased by the customers again and again (Wilson Gilligan, 2012). This, it is required to provide the customers with great services at once so that if they buy again the same products, they will prefer the same brand as before. Segmentation can be defined as the process of dividing the market into different segments according to the characteristics of the customers (Ernst, Hoyer Rbsaamen, 2010). There should be homogeneity in the market segments. Segmentation is done so that group of different customers can be made and the company can make the strategies according to the nature of the market segments. As far as the above products are considered, there can be segments that are made as per the age of the customers, gender of the customers and the occupation of the customers. Aluminium suitcases are generally used by the people of age between 18-50 years of age. As the product has been designed in various sizes and looks thus it can be used by women as well as men so another segment is because of the gender. The last segment is regarding the usability of the customers (Bughin, Doogan Vetvik, 2010). It has been analysed that the people who are in the jobs that require travelling. As the product is very much s trong with its material thus it can easily be used by the frequent travellers. Target customers are those customers or the segment of the customers that needs to be targeted by the company in order to make the sell the products. The target market is the market for which the company has to make the strategies so that the market can be attracted towards the products and the brand. In this case the target market for the company is men who do travelling jobs of the age 25-45 years (Kahn, Barczak, Nicholas, Ledwith Perks, 2012). This is the most relevant target market according to the products that has been launched; this is because the frequent travellers require buying the suitcase that is durable and easy to carry along with great strength. They also need to buy the suitcase again and again and thus it is required to target them as well as to retain them at the same time. Positioning refers to the value that has been associated with the products or how the products are being observed by the customers. As far as the above products are considered, it has been analysed that the products needs to be durable and string. Thus, the company also has to portray the image of the products as strong and durable. The positioning statement that has been used by the company in order to make such image will be explore the world with durability and strength. This suggests that the products help the customers in exploring the world without any issues as it is so durable and string that it will support them all throughout (Durmu?o?lu Barczak, 2011). Marketing strategies are those strategies of the company that are implemented in order to achieve the market objectives. As per the above objectives, Samsara also has to implement some of the marketing strategies in context with the four Ps so that it can achieve the set objectives in the given time (Cui, Zhao Ravichandran, 2011). The strategies that are discussed below need to be practiced by the company for 6 months after the launch of the products. Product is the actual tangible thing that needs to be offered to the market. Products are divided into different divisions. The product needs to be positioned or offered to the customers with different strategies at different levels. Core product: The core products are the suitcase that fulfils the basis need of taking luggage and stuff from one place to another. It is the suitcase that can be taken for long journey and is strong enough to take large amount of stuff. Actual product: as far as the actual product range of the suitcase is cindered, it has many features. Samsaras products are the ideal answer for introduction cases, deals packs, special cases, conveying cases, and delivering cases. Samsaras aluminium cases are accessible in an extensive variety of stock sizes and are monetarily valued for use as attach cases or corporate training cases with tweaked insides (Zhang, Hu Kotabe, 2011). Augmented products: the company provides guarantee of a year to the products and the servicing is also free for a year. Any kind of small breakage can be repaired by the company itself without any charges. It has been analysed that the augmented benefits attached with the products make it more attractive for the customers. The company also have some exchange schemes some of the time in which the customers can exchange their old Samsara products with the new ones under some conditions. Pricing is the element that is also very important and need to be strategized by the company in order to enter the new market. There are many pricing strategies that are available for the companies to use and enter the market: Premium pricing: It is the ricing that deals with selling the products at very high prices as compared to the market. This strategy can be used only when the company has to target the customers with high class background and the company wants to position its products as the premium product (Yan, 2010). Penetration pricing strategy: It is the strategy that is one of the most feasible strategies to enter the new market and to penetrate in the market. In this case the company has to set the prices as per the market situations. Economy pricing: it is the pricing strategy that deals with selling the products in low prices as compared to the customers. This is only for the price sensitive customers (Yan Pei, 2011). Skimming prices: It is the pricing strategy that helps in entering the market at premium price so as to make the image and lowering the prices as the competitors release their competitive products. As per the products in this case, it has been analysed that skimming pricing is the strategy that can be used by the company so as to enter the market as the premium products and lowering the prices as the other competitors release their aluminium suitcases. This also helps the company to earn high profits in less time. Placement is the element that deals with the location or the place by which the company can serve the customers. It has been analysed that in the above case, the company has to choose different places so as to serve the customers in the market and to increase the availability of the products (Nagle, Hogan Zale, 2016). The company can use tow of the strategies so as to serve the customers. One of the places is the exclusive store of the brand and the distributors of the suitcases and other one is by the canopies at different places and events where most of the population gathered so as to enhance the brand awareness. Different promotional strategies can be used by the company: Advertising: It is one of the most effective techniques to promote the products. TV, radio and print media are some of the examples that can be used to advertise the products (Cravens Piercy, 2006). Direct selling: it is also one of the strategies to reach the customers directly and make them aware about the brand. Online marketing: there are different online mediums such as shopping sites and online social networking sites that can support the market activities and campaigns of the company. The company sell their products online and also post some of the ads to the social networking sites in order to get the reviews of the people (Nagle, Hogan Zale, 2016). Market analysis: It is the first action that needs to be introduced. The market needs to analyse to make the strategies accordingly. Development of strategies: it is the action that is required to be conducted in order to make the strategies for the target market (Giri Sharma, 2014). Implementation of the plan and the strategies: there are several actions or the activities that needs to be conducted in order to achieve the marketing objectives of the company. Some of them are: Activities 1st month 2nd month 3rd month 4th month 5th month 6th month Development of strategies Advertising the products on TV and radio along with providing ads on print media Running of social media campaign Direct selling at the events Evaluating the marketing activities Making corrections Conclusion: It has been concluded from the report that Samsara has launched an r products that is the aluminium suitcase with various sizes, designs and features. The marketing activities have been practices in order to achieve the marketing objectives of the company in 6months after the launch of the products. The companys objective was to achieve the sales target nada king the rand ware amongst the customers. The company used several product, pricing, placement and promotional strategies in order to achieve those targets. Implementation of marketing action is necessity to be evaluated so that correction can be made and the results of the plan can be analysed. References: Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2012).Marketing: an introduction. Pearson Prentice-Hall, London. Bughin, J., Doogan, J., Vetvik, O. J. (2010). A new way to measure word-of-mouth marketing.McKinsey Quarterly,2, 113-116. Cravens, D. W., Piercy, N. (2006).Strategic marketing(Vol. 7). New York: McGraw-Hill. Cui, A. S., Zhao, M., Ravichandran, T. (2011). 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