ICTCYS608 Perform Cyber Security Risk Assessments

BSBMKG609 Develop a Marketing Plan

 

 

 

BSBMKG609  Develop a Marketing Plan

 

Task 1

Business Name: Red rooster

Prepared by:

Student ID:

Date:12th March 20222

The marketing plan of the red rooster

Main address: https://en.wikipedia.org/wiki/Chatswood,_New_South_Wales Australia

ABN:[ABN] ABN51008754096

ACN:[ACN] ACN 008 754 096

[Red Rooster] Marketing Plan Prepared: 12th march 2022]

Table of Contents

Marketing Plan Summary p.

The Business

The Future       

TheMarket      

The Finances

The Business………………………………………………………………………………………………………………. p.

Business overview

S.W.O.T. analysis

S.W.O.T.activity sheet

Products/services

Sales/marketing personnel

The Future………………………………………………………………………………………………………………… p.

Vision statement

Mission statement

Goals/objectives

TheMarket………………………………………………………………………………………………………………… p.

Unique selling position                

Your customers/clients               

Your comp etitors           

Marketresearch            

Markettar gets               

Environmental/industry analysis             

Marketing strategy       

Advertising & sales        

The Finances………………………………………………………………………………………………………………. p.

Price

Expected sales                  

Marketing budget                            

Monitoring/measurement activities        

Supporting documentation……………………………………………………………………………………………. p.

Glossary…………………………………………………………………………………………………………………….. p.

Marketing Plan Summary

For the Red rooster company, the marketing plan has been developed. It is a document that lays out the efforts of marketing for the business in an upcoming time, it is generally a year. The marketing plan of the Red rooster outlines the various marketing strategies, advertising activities, promotional activities which are planned for the particular period. In the marketing plan, the SWOT analysis of the Red rooster is done in which some of the weaknesses and strengths of the red rooster are identified. Strategies are set for one year. Product and services have been developed to increase the sales of the Red rooster and the budget has been allocated for the particular task.

The roles and responsibilities are also analyzed in the marketing plan. Key customers and competitors are identified. Various strategies have also been developed to compete with the competitors. The Red rooster will do print media advertising and online advertising. The Sales strategy which will be used by the red rooster is the SPIN selling technique. The target market of the company is also analyzed. And to whom the services will be provided the most has been also analyzed. To the customers of Australia, the company is providing its services. The target market of the red rooster is divided into three segments. This segment is individual sit-down, individual takeaway, and groups (Bui, 2020).

The Business

 

Business Name: Red rooster

Business structure: Company

 

ABN: ABN51008754096

 

ACN: ACN 008 754 096

 

Business Location: Australia

 

Date established: 1972

 

Business owner(s): Founded by Peter Kailis. The current Owner is Marcus Samuelsson

 

Relevant owner experience: Organisation was established in 1972 and various facilities are provided by the origination in the more than 250+ restaurants in Australia

Products/services: All over Australia, the company provides one of the best quality of food.

 

The Future

 

Vision statement:

 

The vision of Red rooster is to expand business in Asia as well till 2025 and to the individuals provides the heady food services. The slogan of the red rooster is “you can’t get more iconic than RED rooster”

Goals/objectives:

 

The short-term goals of the red rooster are to increase the revenue by June 2022 to 10%.

And the long-term, goal of the red rooster is to expand its business in most of Australia and its nearby countries (Bui, 2020).

 

The Market Target market:

To the customers of Australia, the company is providing its services. The target market of the red rooster is divided into three segments. This segment is individual sit-down, individual takeaway, and groups.

 

Marketing strategy:

 

With the help of the integrated marketing mix, the organization wants to enter the market. By creating the marketing strategy, it will help to create customer awareness regarding the red rooster value. It represents the target market and works towards maintaining and developing the referrals and customers’ loyalty (Ferreira, et al., 2021).

 

The Finances

 

There is a need for $ 300k. this budget will cover the renovation, lease, equipment, and suppliers for the first 6 months.  From the loan, these types of expenses will be covered. 50% loan and 50% of savings.

 

Per week we are expecting a loss of 500-1000 per month 0-3 months.

 

At the 0-3 months we are expecting the breakeven point.

 

Per week we are expecting a profit of up to 250 to 1000 per week.

 

Per week we are expecting around $ 1000 of profit per year 1 to 2 year.

 

All the funds will be obtained from the stakeholders and some amount of the fund will be sought from the other sources.   The owners of the red rooster invested 200k (Dangnga, et al., 2018).

 

 

The Business Business overview

The current business owner of the red rooster is Marcus Samuelsson. It is located in Australia and it has been operating for the last 15 years.

 

S.W.O.T. analysis

 

 

StrengthsWeaknesses
1) In the organization new technologies or advanced technologies are used.

2) In Australia the red roosters cover 350+ restaurants.

3) To the customers the good quality of the food is provided.

4) The location at which business is established is the high traffic location.

 

1) Some branches of the red roosters are having a high rental cost.

2) The organization isn’t able to follow all the rules and laws of the organization.

3) Marketing of the organization is not enough (Ritonga, et al., 2018).

 

 

OpportunitiesThreats
1) Building the loyalty of the customers

2) Build awareness of the brand

3) To become the trendsetter

5) Change the market

6) Scope of expanding the business in other countries.

7) By adopting the new technologies new methods are also coming (Goncharova, et al., 2019).

1) The business is having the threat of cash flows.

2) Employees are not good enough.

3) Unreliable suppliers.

4) Changing demand of the customers

5) Changes in the laws and regulations

 

S.W.O.T. activity sheet

 

 

S.W.O.T                       weakness/ threatActivity to address weakness/threatActivity completion date
1) Some branches of the red roosters is having a high rental costTo address the threat there is a need to increase the red rooster’s own location and place.6 months
2) The organization isn’t able to follow all the rules and laws of the organization.

 

To address this threat the red rooster will make sure that all the employees must follow all the rules and laws 1 month
3) Marketing of the organization is not enoughTo address the threat, the activity which is planned is that there is a need to develop new marketing strategies.2 month
4) Employees are not good enough.

 

To address this, threat their activity which is planned is that training will be provided to the current employees. it will help to increase their skills and knowledge.

 

1 month
5) Changing demand of the customersThe address this threat I activity which will be done is regular customers feedback forms will be filled. It will help to know their taste and their preferences (Figueira, et al., 2021).

 

1 month

 

Products/services

 

Product/ServiceDescriptionPrice
Training will be provided to the employees

 

Training will be provided to the employees to increase their skills and knowledge. it will help to increase employee satisfaction.$ 1000
New marketing strategies will be developedNew marketing strategies will be developed to increase the organization’s revenue and sales. New Marketing strategies will help to attract new customers.$ 1000
New places will be found to reduce the restTo minimize the rent charges, the red rooster will find the cheaper locations and find their place (Buhaerah, et al., 2018).$ 1000

 

Market position:

In the market, the services fit in the hospitality industry. The services are in the high end. This compares to the competitors in the quality and the varies as well. In Australia, the value of the company is nice so products like chicken wings and chicken roast are liked by the customers.

Unique selling position:

In the market, the product will succeed because of its quality and based on its nutritional value. Red rooster provides food which is having good nutrition as compared to its competitors.

 

Anticipated demand:

The anticipated quality of the customers which they purchase likely is 5 kg chicken roost. The individual customers buy the services every month whereas customers in groups visit the restaurants every 2 months.

 

Pricing strategy:

The red roosters use the cots pricing strategy as this strategy provides more profit to the organization as compared to other pricing strategies.

 

Value to customer:

The customers view our products as the good quality and good nutrition of food/ our customers also like the taste of the dishes as it is different from the red rooster’s competitors.

Growth potential:

In the future anticipated percentage growth of the product and services is a 10% increase in sales.

 

Sales/marketing personnel

 

Job TitleNameResponsibilities
Marketing/ Sales ManagerMr.Oliver Green·         Business activities are supervised and coordinated by the marketing manager.

·         Product and services are evaluated.

·         To create the marketing plan.

·         To study the political and economic environment (Han, et al., 2020).

·         To launch new services and products in the market.

 

 Marketing/ Sales executivesMr. peter smith·         For the organization research and develop the new marketing and sales strategies.

·         New campaigns and training programs are developed and implemented by the marketing executive.

Marketing/ Sales officerMr.Chandler  trump·         To generate the leads.

·         To make sure that sales goals are met.

·         To prepare monthly and weekly reports timely.

·         Determine the pricing schedule for promotion and negotiating.

·         To provide training for the sales employees.

·         Developing in-depth knowledge about the product and services of the company.

 

The Future

Vision statement

The vision for Red rooster is to expand business in Asia as well till 2025 and to the individuals provides the heady food services. The slogan of the red rooster is “you can’t get more iconic than a RED rooster. The company is planning to open the newer branches in the newer market. In the three years to increase its profit by 8%.

 

Mission statement

 

The vision of the red rooster can be achieved by the improvement its customer’s services and developing new marketing strategies.

 

Goals/objectives

  • The short-term goals of the red rooster are to increase the revenue by June 2022 to 10%.
  • Long term goals of the red rooster are to expand its business in most of Australia and its nearby countries.
  • To the customer offer good and high quality of food.
  • At a reasonable price offer the good quality of food.
  • Within the year to open the new branches of the Red rooster.

Some of the activities which will be undertaken to achieve the set objectives are-

  • A simple and delicious menu will be offered to the customers.
  • Recopies will be offered to the customers as per the Australian culture.
  • Make each customer feel important as they are the only customers to the organisation (Rahmat, et al., 2019).

The Market

 

Unique selling position

In the market, the product will succeed because of its quality and based on its nutritional value. Red rooster provides food which is having good nutrition as compared to its competitors. The Red rooster is having advantages as compared to competitors in that it is having a unique demographic location. T organization is also having a unique menu it offers a wide range of recipes as per Australian culture.

 

Your customers/clients

 

Customer demographics

Our target customers are teenagers & youngsters as they love to eat healthy foods and they are more focused on their fitness. They are located and Australia only (Rahman, et al., 2021).

 

Key customers

Our key customers are the customers who are going to the gym and who are more focused on their health and fitness. to them we can target our product and services by adding health ierrecopies to the menu and then we can deliver the product as per their orders at their homes as well.

 

Customer management

We can maintain a good relationship with the customers by drawing regular interactions with the customer. We can also conduct loyalty programs for the customers and ask them to fill out the customer satisfaction form. To keep the customer coming back we can provide some attractive discounts (Ryu, et al., 2019).

 

Your competitors

 

To rate against the competitors some of the steps will be followed-

  • Competitors will be identified.
  • Information will be gathered about the competitors.
  • Competitors’ strengths and weaknesses will be analyzed.
  • Direct communication will be done with the.
  • Competitive advantages will be identified.

Businesses can improve on what their competitors offer by doing innovation in their products or services (Benzaghta, et al., 2021).

 

Competitor details

 

CompetitorEstablished dateSizeMarket share (%)Value         to customersStrengthsWeaknesses
Mac DonaldApril 15, 1955USD 2107.6 crores21.2%Good quality, good taste, and highly trained staffThe organization provides food which is mostly liked by the children’s and they also provide the toys to attract the customers.

They provide both veg and nonveg food.

Unstable timings
KFCSeptember 24, 1952USD 27.9 billion2.82%Good quality of dishesfor the individual, the company provides budget-friendly offers (Faier, et al., 2018).The company provides only non-veg food.

Market research

We have gathered the additional data and a questionnaire was conducted. It helped to analyze the market. We have also analyzed the findings (Morgan, et al., 2019).

Market targets

In the coming year, there is need to increase the sales upt0 10%. The annual gross profit will be $ 500 million.

 

Environmental/industry analysis

The market pictures which have been performed at the result was quite impressive and positive as well. The area is experiencing the growth of population and in the area, there are also some long-term employees. The reason economy is also stable and there is no seasonal variation.

The market size is very wide. In the market, the recent trend which has emerged is an online order and food delivery. We will market the change by developing the new marketing strategy. the external factors which can affect our environment (Kim, H. et al., 2020).

 

Marketing strategy

The overall marketing strategy is to provide a good quality of food to customers at a reasonable price. To achieve this objective, market research will be conducted and customer feedback will be taken (Chari, et al., 2019).

 

Marketing activity/milestonePerson responsibleDate         of expected completionCost ($)Success indicator
Online advertisingMarketing manager2 months$ 2000Increase in the sales by 5%.

 

Customers satisfaction formMarketing manager2 months

 

$ 500To increase the customer’s rate

 

Advertising & sales

Advertising and promotional strategy

Planned promotion

/advertising type

Promotional strategyExpected                                     business improvementCost ($)Target date
Print media advertisingThis promotion is used as this is one of the most liked activities by the customers.  New recipes will be printed every week and it will also attract its customers.It will increase the customer’s satisfaction and sales will also increase.$ 10004 months
Online advertisingThis promotion strategy is used as most of the customers are online.It will increase the sales of the Red rooster.$ 3004 months

 

Social media strategy

There is a need to do some brand awareness. It will help more and more customers to know about the red rooster services. Blogs will be used to market the red rooster recipes. Timely interaction will be done with the customers (Merzlyakova, et al., 2019).

 

Sales strategy

The SPIN selling technique was used.

 

Sales and distribution channels

Channel typeProducts/servicesPercentage of sales (%)Distribution strategy
ShopfrontDrink offer and fast food70%We have decided to use shopfront channel pipe as it will help to increase the red rooster sales.
Direct mailHome delivery80%We have decided to use this type of channel as customers can utilize their time and they will pick and place your orders easily online.

 

 

The Finances

There is a need for $ 300k. this budget will cover the renovation, lease, equipment, and suppliers for the first 6 months.  From the loan, these types of expenses will be covered. 50% loan and 50% of savings.

 

  • Per week we are expecting a loss of 500-1000 per month 0-3 months.

 

  • At the 0-3 months we are expecting the breakeven point.

 

  • Per week we are expecting a profit of up to 250 to 1000 per week.

 

  • Per week we are expecting around $ 1000 of profit per year 1 to 2 year.

 

  • All the funds will be obtained from the stakeholders and some amount of the fund will be sought from the other sources. The owners of the red rooster invested 200k (Dimitrescu, et al., 2018).

 

Price

For the product, the price is determined by analyzing the customer’s prices. $ 300k was the price that was determined and this price takes into all the cost of accounts. In the costing, the profit margin is also allocated.

 

Expected sales

They expect sales are $ 500 k. in the recent 3 years we hope to achieve the set figures and there are no seasonal influences.

 

Marketing budget [YEAR]

 

ItemJanFebMarAprMayJunJulAugSepOctNovDec
Marketing/promotion
Marketing agency100010001000100010001000100010001000100010001000
Radio advertising
Television advertising
Print advertising200020002000200020002000200020002000200020002000
Online advertising300300300300300300300300300300300300
Social media
Web search optimisation
Mailouts
Giveaways300300300300300300300300300300300300
Events
Branding & artwork
Merchandising
Publications
Catalogues
More…
Marketing/ promotion total$3600$3600$3600$3600$3600$3600$3600$3600$3600$3600$3600$3600
Other
Research100100100100100100100100100100100100
Travel100100100100100100100100100100100100
Postage100100100100100100100100100100100100
Administration100100100100100100100100100100100100
Incidentals100100100100100100100100100100100100
More…
Other total$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
Total$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

 

Monitoring/measurement activities

 

 

Marketing activityDate            of reviewMonitoring methodsReview outcomes
Print advertising, online advertising,

 

6 monthswebsite data was used.

 

The result was positive and there has been increase in the sales of the company.
Online advertising

 

6 monthsdistribution channels were used to monitor the impact (Tarman, et al., 2019).The result was positive and there has been increasing in the sales of the company.

 

Supporting documentation

 

I have attached all the supporting documents with this marketing plan. The attached documents include the following-

·         Start-up costing

·         Cash flows

·         Profit and loss statements

·         Balance sheet

Glossary

Australian Business Number (ABN) – a single identifying number used when dealing with other businesses and the Tax Office.

Australian Company Number (ACN) – the number allocated by the Australian Securities and Investments Commission (ASIC) when you register a company under Corporations Law.

 

Blog –is a shortened word for Weblog (see Weblog).

 

Channel – a way of delivering something to its destination, whether it is a message to be communicated or a physical product to be delivered.

Contract – a legally enforceable agreement made between two or more parties. A contract may be a verbal contract or a written contract (or may be partly verbal and partly written).

 

Demographics – the characteristics of a segment of the population, e.g. customers.

 

Domain name – a name that identifies an organization’s address on the internet, either a website address (the domain name follows the ‘www’) or an email address (the domain name follows the ‘@’ symbol in the email address).

Goods and Services Tax (GST) – a broad-based tax of 10 percent on the sale of most goods and services in Australia.

 

High-end – usually refers to expensive or high quality products/services.

 

Market position– referstothepositionanorganization,productorservicehasinthemarket,usually in relation to its competition.

 

Milestone – a goal or objective with a target date.

 

Mission statement – is a statement outlining how an organization intends on achieving its vision.

 

Social media – a group of technology including Blogs, online networks (e.g. Twitter, Facebook, MySpace, LinkedIn) and online collaboration tools often used to expand your network/market reach or collaborate on a large scale.

Unique selling position–a characteristic of a business or a product/service that set sit apart from the competition.

Vision statement – an inspiring statement that expresses an organisation’s main ambitions/goals.

 

Weblog – (also known as a Blog) an individual’s or organisation’s online website displaying a reverse- chronological list of entries (known as posts). Posts typically include thoughts, observations, promotions, links, images or videos. A Weblog is publically available and allows readers to comment on posts.

 

 

Reference

Benzaghta, M. A., Elwalda, A., Mousa, M. M., Erkan, I., & Rahman, M. (2021). SWOT analysis applications: An integrative literature review. Journal of Global Business Insights6(1), 55-73.

Bui, T. T. N. (2020). Inbound Marketing Plan for Small & Medium-Sized Businesses.
Olivas, A. (2021). Creating a Marketing Plan for a Local Small Business.

Dangnga, M. S., Arman, M., &Buhaerah, M. (2018, July). Marketing Strategy Development Model of Increasing Sales Volume of Dangke Cracker: Enrekang Regency Food Specialty. In 2018 3rd International Conference on Education, Sports, Arts and Management Engineering (ICESAME 2018) (pp. 8-11). Atlantis Press.

Dimitrescu, A., Babis, C., Alecusan, A., Chivu, O., &Faier, A. (2018). Management of a marketing plan. Fiability& Durability1, 279-285.

Ferreira, D. C., Marques, R. C., Nunes, A. M., &Figueira, J. R. (2021). Customers satisfaction in pediatric inpatient services: A multiple criteria satisfaction analysis. Socio-Economic Planning Sciences78, 101036.

Goncharova, N. A., Solosichenko, T. Z., &Merzlyakova, N. V. (2019). Brand platform as an element of a company marketing strategy. International Journal of Supply Chain Management8(4), 815.

Han, D., Bae, Y. H., Kim, T. Y., Jung, J., Lee, C., & Kim, H. S. (2020). Classification of Environmental Industry and Technology Competitiveness Evaluation. Journal of Wetlands Research22(4), 245-256.

Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing strategy. Journal of the Academy of Marketing Science47(1), 4-29.

Ritonga, H. M., Setiawan, N., El Fikri, M., Pramono, C., Ritonga, M., Hakim, T., &Nasution, M. D. T. P. (2018). Rural Tourism Marketing Strategy AndSwot Analysis: A Case Study Of Bandar PasirMandoge Sub-District In North Sumatera. International Journal of Civil Engineering and Technology9(9), 1617-1631.

Ryu, M. H., Cho, Y., & Lee, D. (2019). Should small-scale online retailers diversify distribution channels into offline channels? Focused on the clothing and fashion industry. Journal of Retailing and Consumer Services47, 74-77.

Tarman, H. A., Soleh, S. M., Ari, A., &Rahmat, T. A. (2019). Leveraging brand equity by applying brand communication and forming city branding based on unique selling proposition (a case of crafts city). J. Bus. Adm. Stud5(5), 74-83.