Assessmen1 - Assessment Manage the marketing process BSBMKG603 TASK 3 ANALYSIS Business analysis is a research discipline of identifying business needs

Assessmen1 - Assessment Manage the marketing process...

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Assessment Manage the marketing process BSBMKG603 TASK 3 ANALYSIS : Business analysis is a research discipline of identifying business needs and determining solutions to business problems. Solutions often include a software- systems development component, but may also consist of process improvement, organizational change or strategic planning and policy development For the organization, the analysis is presented as below: Market growth up from $175million to $199 million, equalling in a 3.75% increase Company sales $220 million Market share 11.05% Marketing expenditure $440,000 New business = $2.75 million Marketing expenditure and % of new business = 440,000 / 2750000 = 16% More web marketing to follow market trend Change market share growth to 12% to maintain market share at 11% KPIS : Industry growth predicted at 10% Actual growth 13.75% - caused by interstate migration, and demand for building and home-wares Expected sales to grow at 8.5% Actual growth at 16% Market share expected at 12%, actual growth was 11.05%. Difficult to grow market share in a growing market Market expenditure to new business expected at 15% actual 16% Increase due to position for online business Targets : A target market is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target
market is the first element to a marketing strategy. The marketing mix variables of product, place (distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace. The company target is: Sales growth to increase to 16% per annum otherwise growth becomes uncontrollable Market share to remain at 11% - maintain share in growing market Industry expected to continue growing at 13.75% Expenditure to acquire new business increase to 16% to accommodate new online distribution channel.

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