BBQfun Marketing Plan
1. Executive Summary
BBQfun will be the leading outdoor lifestyle retailer, catering to the growing need for furnishing new and renovated dwellings in the greater Brisbane area. The assortment offer of BBQs, outdoor furniture and BBQ accessories will position BBQfun as best-in-class for outdoor lifestyle retailing.
BBQfun will reinvent the way people shop for outdoor lifestyle products. BBQfun will build its reputation on offering the fullest assortment of products possible, incorporating both local and imported goods with products sold on easy to manage long-term payment plans. Our after sales service and three year guarantees will find traction with a market dominated by low quality items. Sample Paper: ORDER YOUR PAPER NOW
2. Situation Analysis
BBQfun is close to entering its third year of operation. The initial rollout of stores has been well received, and marketing is now critical to its continued success and future profitability. The store offers wide ranging outdoor lifestyle items on easy-to-manage payment terms and supplies a three year guarantee on every item sold. The basic market need is for quality, fashionable and unique outdoor lifestyle items that cater to the house-proud needs of our market.
2.1 Market Summary
BBQfun possess good information about the market and knows a great deal about the common attributes of our most prized and loyal customers. BBQfun will leverage this information to better understand who is served, their specific needs, and how BBQfun can better communicate with them.
2.2.1 Market Demographics
The profile for the BBQfun customer consists of the following geographic, demographic, and behaviour factors based on a local Chamber of Commerce report:
- Overview greater Brisbane area:
- high population growth of 5% per year
- new homes and renovated homes growing from a base of 50,000 per year
- low unemployment of 4.7%.
- Geographic:
- our immediate geographic target is the area of Brisbane with a population of 1,000,000
- a 30 km geographic area is the average store market footprint
- the total targeted population is estimated at 250,000.
- Demographics:
- male and female
- ages 20–50, this is the segment that makes up 50% of the Brisbane new and renovated house markets, according to the Chamber of Commerce
- high % of young professionals who work in the central business district
- high % have attended college/graduate school
- an average household income of over $130,000.
- Behaviour Factors:
- no concerns about debt; will borrow on the future to enjoy today
- looking for security in purchasing
- looking for the ‘house-proud’ factor in outdoor lifestyle purchasing.
2.2.2 Market Needs
BBQfun is providing its customers with a wide selection of merchandise in its chosen field. BBQfun seeks to fulfil the following benefits that are important to their customers. Sample Paper: ORDER YOUR PAPER NOW
- Selection – a wide choice of options.
- Accessibility – the patron can gain easy access to the store with minimal wait.
- Consumers are increasingly prepared to invest in quality outdoor cooking appliances that will not only perform, but will stand the test of time
- Customers are also drawn towards quality cooking and style
- Customer service – the patron will be impressed with the after sales service and guarantees.
- Competitive pricing – all products/services will be competitively priced relative to comparable high end outdoor lifestyle lines.
Above all, BBQfun believes that easy access to stores with extensive choices in our chosen fields, that are sold on an easily managed payment plan with a three year guarantee are the keys to our customer’s needs and wants.
2.1.3 Market Trends
The market trend for outdoor lifestyle stores is headed toward a more sophisticated and informed customer. The outdoor lifestyles patron today relative to yesterday is more sophisticated in a number of different ways.
- Item quality – the preference for high quality items is increasing as customers are learning to appreciate the quality differences. Serious suppliers have chosen to hold their ground by continuing to market products with a focus on quality in order to offset the purchase of cheaply imported ones.
- Unique – our patrons appreciate the opportunity to include outdoor lifestyles in their home that stand out from the mass produced and low quality items.
- Selection – people are demanding a larger selection of choices; they are no longer accepting a limited offer in outdoor lifestyles.
- Entertainment -barbecues are lifestyle products that are embraced by consumers for reasons that they are fun to use, are a cheaper form of entertaining than restaurants
- Outdoor Kitchens – there is a trend towards combining barbecue and kitchen functionalities by pursuing outdoor kitchens, cooking appliances, cabinetry, range hoods, sinks, fridges and heating options are making true outdoor kitchens a reality and is becoming a must have in Australian homes
- Serious suppliers have chosen to hold their ground with respect to recommended retail prices (RRPs), by continuing to market products with a focus on quality. They are banking on Australians’ love of barbecuing and foodie culture to keep average sales prices (ASPs) in the category high
- Australians are embracing cooking, and eating, outdoors as a way of life.
- Electric barbecues – provides an alternative for apartment dwellers who may have space restrictions or are unable to use gas for safety reasons and maybe the best option for some consumers who may be restricted by use of gas or charcoal by their rental or housing association
Sample Paper: ORDER YOUR PAPER NOW
The reason for this trend is that within the last couple of years there has been an explosion of media in the form of TV shows and magazines that have promoted exotic and different outdoor lifestyles. Consumers, especially those of high incomes, no longer need to accept a limited number of options. With more choices and higher incomes, patrons have become more sophisticated. This trend is intuitive as you can observe a more sophisticated patron in larger city markets such as Sydney or Melbourne where there have been more choices made available.
BBQfun strongly believes that customers are more interested in range of products, after sales service and easily managed payments than any other issues. These are the reasons that they will shop with us and become loyal patrons.
Technological developments with the broadband rollout across greater Brisbane and Australia have opened up significant opportunities for internet shopping and for providing information for our customers about our product range.
2.1.4 Market Growth
In 2014, the national outdoor lifestyle market reached $300 million dollars. Outdoor lifestyle sales are estimated to grow by at least 6% for the next few years. This growth can be attributed to several different factors….Continue Reading