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Assortment of products that exceed competitor offerings in quality, range and accessibility.WeaknessesA limited marketing budget to develop brand awareness.No online profile.The struggle to continually manage cash flow and profitability due to:- high marginal costs and expensesrepayment plans taken out by our customers.OpportunitiesA growing market in a high growth area with a significant percentage of the target market still not aware of BBQfun value proposition.Increasing sales opportunities outside of our store locations – south eastQueensland.Growing opportunity for online sales.
ThreatsLow-cost competition.Competition from national chains moving into the Brisbane market, potentially through online sales.A possible slump in the economy reducing customer's disposable income spent on outdoor lifestyles.CompetitionNational competitionBBQ’s R Us: Broad range of outdoor lifestyle products including trinkets and furnishings. Lots of cheap imports. Concentrating on established markets. Strong in the replacements segment. One store in Brisbane. Mostly in Melbourne and Adelaide. Considering e-commerce options.Outdoorz: Large operations of only a few stores per city. Mass markets outdoor lifestyles at good value prices. No imported goods.Extensive advertising. Low to medium quality. Strong in the replacement segment rather than new and refurbished dwellings. Gaining strength in Brisbane market. Considering ecommerce optionsLocal competitionAll independents. These stores are owned by individual owner operators. Ranges vary according to owner preferences. There are very few imports. Mostly retailing Australian manufactured goods. Collectively their average item sale price is $250, they have a market share of 48%, and are growing at about 8% per year.One important source of market research is competitive analysis. BBQfun management continually visit local outdoor lifestyle stores for competitive analysis, providing BBQfun with timely information regarding other store’s service offering.BBQfun’s Profitability BBQfun has created an outdoor lifestyles range of retail products that is differentiated and superior to competitors. Customers can see the quality
of the product as it is displayed in the stores. The following are characteristics of the product:BBQfun’s credit offer is backed by a top tier bankImported products make up 33% of the product rangeThe three year guarantee is unique in the market place broadest possible range in chosen fieldExpert, friendly customer serviceBBQfun prides itself on providing service that is on par if not better than any of the local independent stores and far in excess of the national chains.BBQfun will ensure that all aspects that are involved in the delivery of satisfaction to the customer will work using an integrated approach.BBQfun Marketing preferences 2011 (survey of 500 customers)NewbuildsRenovatorsReplacementsHave visited BBQfun in previous month70%70%50%Have bought a BBQfun product in previous month70%65%50%Customer service is essential90%95%60%Price is most important10%20%95%Australian made is important80%65%55%Will buy online100%100%100%Will pay for online delivery if chosen30%100%100%Loyalty customer30%20%10%BBQFun’s new market plan organization
BBQfun was established in 2009 by its current CEO, Pat Mifsud. BBQfun