The University of Adelaide

Marketing Communications III

Marketing Plan

April 2009

 

Marketing Consultants`

Emily Clark

Thomas Radford

Alice Webster

Marius Zanin


Contents Page

Executive Summary

1. Introduction

2. Situational Analysis

3. SWOT Analysis

4. Marketing Objectives

5. Marketing Strategy

6. Implementation Plan and Control Mechanisms

7. Further Market Research

8.Conclusion

Reference List

List of Appendices


Executive Summary

We have prepared a marketing plan for Balcony Bars. Balcony Bars instantly creates a private bar top on balcony railings.  

The purpose of this marketing plan is to develop a lucrative option for increasing market share and brand recognition for Balcony Bars.

In assessing Balcony Bars’ current business structure and operations, market segments have been identified and strategies have been suggested. Adoptions of these strategies seek to achieve growth in both sales and market share for a sustainable future.

Market research was conducted and this provided thorough insight into the current situation, the business environment, and a SWOT analysis was conducted to view the internal and external characteristics, which identified avenues for achieving marketing objectives.

By positioning the Balcony Bar as a modern, unique and innovative solution to outdoor entertaining in high density city living, enables them to target young, affluent adults. This allows them to position themselves away from competitors by emphasising the Balcony Bar’s benefits.  

Marketing promotions have been implemented to position Balcony Bars in the market and control mechanism need to be in place to measure progress against initial objectives.

Finally, further research will provide Balcony Bar with a way of measuring their progress against their initial objectives.


1. Introduction

The Balcony Bar creates a bar top experience on balcony rails. It is seen as so versatile it can be easily moved around to ‘follow the sun’.

Balcony Bars were invented and designed by Troy Griffin and Richard Jones. The inspiration came when Troy heard that the building of his new apartment had experienced a safety problem with things falling from balcony rails. He was then inspired to team up with Richard, and hence, Balcony Bars was invented.

They launched their recreational invention via the ABC program “The New Inventors” in March 2008, and won the Peoples Choice Award. This enabled Balcony Bars to send their message of ‘raising the bar’ when it comes to outdoor entertaining.

The purpose of this report is to provide Balcony Bars with an effective marketing plan, which will enable them to adopt an entrance strategy into the market segment.


2. Situational Analysis

Understanding the situation in which consumers make decisions is important to understanding Balcony Bars’ market. The communication, purchase and usage situations are the most important to consider.

Communication Situation

Consumers who are actively seeking to purchase a Balcony Bar are more likely to be receptive to marketing communication efforts. Consumers’ attention should be maintained by promotional material containing a large degree of message arguments. Marketing efforts need to be tailored to the needs of consumers who are not actively seeking to purchase a Balcony Bar.

Purchase Situation

The purchase situation relates to the situation that can effect product selection. The purchase of a Balcony Bar is not impulsive. Potential consumers are likely to spend some time searching different furniture options to use on their balcony. The purchases will depend on the time consumers have to research, available options, amount of money and also the influence of external parties. This provides a need for Balcony Bars to ensure their product is consumer savvy.

Usage Situation

The Balcony Bar can be varied depending on how it is going to be used. A consumer may use it as an outdoor office or as an entertaining bar.


3. SWOT Analysis

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The SWOT analysis is essential for the marketing plan as it examines the Balcony Bar’s internal strengths and weaknesses and their external opportunities and threats. It also takes into consideration the various uncontrollable factors within the business environment.

3.1 Strengths

The balcony bar has several uses and can fit varying types of balconies. The balcony bar can move to follow the sun as it slides on top of the balcony rail. It is strong, yet only weighs 8 kilograms and abides with Strata By-Laws. Matching bar stools are available, which act as a profitable add-on sale.

The design is available ...

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