A Research Report on Marketing Strategies of the Business Essay example

4094 WordsAug 18, 201317 Pages
HI 5004 Marketing Management | Victoria’s Basement | A Research Report on Marketing Strategies of the Business | Muhoo [Pick the date] | Table of Contents 1 Introduction 2 2 Market Profile Error! Bookmark not defined. 3 Macro-environmental Analysis of Victoria’s Basement 3 4 Micro-environmental Analysis of Victoria’s Basement 4 5 Market Segmentation 5 5.1 Demographic Segmentation: 5 5.2 Psychographic segmentation: 6 5.3 Behavioural segmentation: 7 6 Target Market 7 6.1 Purchasing Pattern and Purchasing Power 7 6.2 Brand Positioning Based on Target Segment 8 7 Marketing Mix 9 7.1 Product 9 7.2 Price 9 7.3 Promotion 9 7.4 Place 9 7.5 Process 10 8 Recommendations 10 8.1…show more content…
The PESTEL framework could be adapted to analyse the macro-environmental forces for the company. Table 1: Macro-Environmental Analysis for QVB Factors | Descriptions & Analysis | Political & Legal | * Free trade policies of multiple countries could provide QVB [hence, Victoria’s Basement] good business opportunities for exporting their products to the foreign markets (Whaples, 2011) and also importing products at cheaper rates. * Legal regulations including taxations, consumer protection legislations, and employee protection legislations in NSW would also matter in deciding how business is operated. If Victoria’s Basement is considering expanding to other states, the business will also encounter difference in taxation and local legislations to adapt to. | Economic | * Global economy recovered from the financial crisis had allowed the buying power to increase (Coffee, 2012). Therefore, more people are able to spend on luxury home wares and kitchenware. * Global high level of unemployment would still make the costs for labour lower than expected (Coffee, 2012). Therefore, Victoria’s Basement can employ people at lower rates, hence reducing the fixed cost of operating business. Also, the imports are remaining cheaper due to cheap production labour from other countries. | Socio-Cultural | * Emergence of DIY (Do It Yourself) allowed more consumers to be more in favour of cooking and baking at home (Pearce, 2012) * Emergence of usage of social

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