Austral Masonry Marketing Plan
The study in this paper is a continuation of assessment one of it all. The paper focuses on the development of a market plan of Austral Masonry. It is a leading Product group Brickworks Company in Australia. The study elucidates a couple of aspects that are inclined with the product group marketing plan of its brand. Notably, the product line is leading in the construction and building industry in the 21st century. A number of aspects are suggested in the research paper. For instance, the paper has recommended that Austral Masonry should adopt the customer value-based pricing strategy in the market. This is the pricing strategy that is first concerned with the utility of the brand before setting the actual prices of the brand. The other pricing strategy should be considered after considering this strategy. Additionally, the paper has proposed that it should use the intensive channels of distribution to reach its customers. This entails that, Austral Masonry will employ several agents who will in turn market brand. Market segment and targeting is another strategy that Austral Masonry has utilized in understanding customer behavior. Besides, Austral Masonry has immensely invested in research and development to meets customer needs. Research and development have enabled it to emerge the leading in the market. The paper has also briefly reviewed the previous assessment of the study and aspects such as the value proposition of the brand, SWOT analysis, and macro environment reviewed. These are some of the outstanding aspects that will be covered in this paper among other key aspects.
Marketing Plan: Austral Masonry
Objectives and Issues to create Customer Value
In the 21st century, many companies across the globe are yearning to satisfy the needs of the customers in the market. Customer needs are therefore paramount to the marketer. Ideally, marketers regard the customer in the market as "everything" since, without the customer, the organizations goals will not be realized. Customer satisfaction affects sales, hence the returns of the organization. Austral Masonry through the management believes that customer satisfaction is the most vital role (Bradt, 2017). The Product line has specialized in the manufacture of the building and construction materials and have believed that customer is to be provided with quality brand rather low prices. Besides focusing on customer value creation, the Austral Masonry product line has also ensured a large scale of production. Generally, when Construction line of Brickworks Competition, increases the scale of production, the cost of production is greatly decreased thus enhancing the scale of operation. Austral Masonry has acquired the largest share, therefore, in Australia (Taylor, 2020). The Product Line is in a position to produce high-quality construction and building materials relatively at low costs after enhancing the scale of production. Customer value is therefore realized by the Austral Masonry by availing the most innovative brand in the market.
Marketing Logic to create Customer Value
Austral masonry since is as old as the Brickworks Company was established and has been investing immensely in research to develop a brand that can meet the customer needs in the market. The austral Product line has been leading in the Australian market and believes that continued research to develop its brand will satisfy the customer needs hence remain at the top in the construction and building industry. Thus the culture of innovation has been retained in Austral. Some of the companies in the industry have relied on old technology to develop their brands, unlike Austral Masonry. This is what brings differentiation with the brand. Some of the remarkable products that are available in the market include timber products, Bricks, roofing tiles, concrete panels, and pavers.
Austral Masonry Market Segmentation
There are two segments that the company targets in the global market. Both the high-end and low-end markets are targeted by the company. Through this kind of market segmentation, the Austral product line has expanded tremendously across Australia. The scope of opportunities has been realized through the adoption of diverse and wide market segments across the globe. Notably, the market segments of the Austral Masonry have increased drastically and are deemed to expand at the same rate after opening a new market in North America. This was realized after the company acquired one of the leading companies in North America, the Glen Gerry Company which is in the same industry. The segmentation of the Austral Product Line is not concerned with the social status of the customer but the families especially with children who will potentially buy their brand. Both social and social support has been the duty of the company through management (Hollensen, 2019). Ideally, the management through the sales and marketing department believes that a satisfied customer is a happy customer hence a loyal customer. These are some of the basis which the company has employed, precisely to capture customer attention in the global market. Through careful research in the market, the company has been in a position to avail the most viable brand to the consumer. The brand of the Austral Masonry has, therefore, turned to the most selling in the industry. However, further research is needed to maneuver the competitors after learning the skills utilized by the Austral Masonry line in marketing. If this is not done, possibly the market will be taken over by other companies in the industry.
Market Targeting as utilized by Brickworks
The Company’s Product Austral Masonry has been in a position to break the market into small divisions to reach as many customers throughout Australia. . It has turned out to be part of holistic marketing as the Austral Masonry has aimed at retaining its competitive edge in the global market since it has been the leading in Australia. The market segments that the Product line is targeting currently are basically North America and Australia. Particularly the Austral Masonry is well established in Australia. However, different market segments are unique as the customers are not the same and the competition is still different (Perreault, 2018). In Australia still, the general market has been divided into smaller markets to enable the company to reach as many customers as possible across the continent. Through a careful analysis of the market, the Austral Masonry has been in a position to reach many customers unlike the competitors in the industry. One of the principles the product line has employed in market targeting is understanding the audience who are the customers in a particular market and then, reach them. In market targeting, Brickworks ensures that its brand is differentiated from that of the close competitors, some of whom have tried to copy them. This is through research and development in the global market where the company operates. Austral Masonry ensures that a smaller group of customers is targeted at a go. Through this strategy, the customers are well reached and as they become more informed of the brand, they are likely to buy the brand. Other tools in market targeting by the Austral Masonry is the use of better services, including after-sales services (Chaffe, 2019). The Company’s Product Line yearns through the management yearns to be as unique as possible in reaching the customer. This explains why the company has been leading for more than a century in the construction and building industry.
Austral Masonry Marketing Mix Strategy
The 4Ps marketing mix strategy has been precisely used by the Austral Masonry in marketing its brand in the Australia. This has been the best marketing mix that has enabled the Austral Masonry to succeed in the market. Customer satisfaction has been the main theme of Austral Masonry. This has led to the maximum benefit of the brand to the ultimate consumer. The management has aimed to reach many customers in the market. This has been realized through adopting adopt a diversified channel of distribution and expanding the scale of production in line with adopting the latest technology in the development of its brand. The 4Ps marketing mix strategy which stands for Product, Price, Place, and Promotion respectfully, has been carefully utilized to realize the company’s goals and objectives (Liu, Farzana, Rajarao & Sahajwalla, 2017). Notably, Austral Masonry has acquired a leading in the industry and operating in Australia. This entails that the Company’s Product Line will be in a position to operate in North America therefore, increasing the sales volume. Austral Masonry has also adopted a diversified promotion strategy that enables it to reach many customers. This includes advertising, salesperson, and public relation among other promotional tools. Austral Masonry on the other hand is not more interested in the prices of the brand rather the value. However, after advancing the scale of operation by the product line is in a position to avail quality goods relatively at lower prices. It has the highest market share through this strategy both in Australia. Through the market mix strategy, the product line is likely to expand the market supplied in Africa and Europe. Altogether it is the leading in the market.
Value Proposition of the Austral Masonry Brand
As stated earlier in this paper, customer satisfaction is the central theme of the product line. Walking around the globe, there are millions of building that stand by the construction materials made by Austral Masonry bricks, including sky crappers. Through the company, the globe has become amazing. This is every Company’s goal and therefore, Austral Masonry has realized it. Through technology, research, and implementation of the acquired skills, the Austral masonry has been in a position to develop its brand purposely to satisfy the needs of the customer. The scale of operation has been intensified. The management dream to avail the best brand in the market has made the company invest in innovation day after another, developing the best brand in the industry. This is the value proposition of the Company’s brand (Nußholz, Rasmussen & Milios, 2019). Through the value proposition, the company has influenced millions of customers to buy their brand. Additionally, the product line yearns to make the most informed decision to satisfy the consumers. The consumers on the other hand can access the Austral Masonry information concerning their brand from the internet. The value proposition of the Brand in turn has expanded the sales volume, hence the returns. Austral Masonry focuses on analyzing the benefits that the customer will enjoy in using their brand (Times, 2020). For instance, the building bricks are produced to be the most potent and of the best design during construction. The brand is also made to attract diverse customers in the market. The best design of pavers and other items are utilized. Although the company does not focus on the prices of the brand, it offers cost-effective products in the market. This is realized since the product line has expanded the scale of production thus cutting some of the production costs.
General Situation of Austral Masonry Brand
Based on the assessment of one of these studies, several aspects were analyzed concerning the Austral Masonry Product Line. Some of the remarkable aspects were the value proposition of the Product line and SWOT analysis. The paper also elucidated aspects of the macro and microenvironment affecting the performance of the line. This section has provided an overview of the general situation of Austral Masonry based on the previous assessment. It is among the best performing in Austria and in its industry, providing the best construction and building materials to millions of customers. This is explained by the fact that Austral Masonry has entered into new markets such as North America. It has been known as the most reliable in the construction of bricks among other building materials in the market. There are several threats and opportunities that encompass the product line. For instance, it has served in the market for more than a century and this explains why it is in a position to compete successfully in the industry. The main threat that the product group is facing is that there are several firms entering the markets and this is likely to decrease the scale of operation. Immense competition in the market is therefore dangerous to the performance of Austral Masonry in the future. However, it is the best in Austral Masonry, providing the most reliable building materials in the market (Startup, 2020). Additionally, Austral Masonry has been impacted by the external factors which were analyzed by the PESTEL model. Particularly in technology, the company has invested heavily in research and development of improved brands to satisfy the consumer. This explains why Austral Masonry is coping with the stiff competition in the market. Austral Masonry brand remains outstanding despite many competitors in Australia. Generally, the overall situation of the brand has been trough to be commendable.
Three levels Involved in Austral Masonry Brand and its line and strategy
Generally, there are three levels of a product or a brand during the development and availing it to the customer. The three levels of products are usually the CORE, ACTUAL, and ultimately the AUGMENTED. The first level of the product usually the CORE is not the physical product that one can see rather the intangible product that no one sees (Bhasin, 2018). The product is in the mind and it is not yet visible. The second level thus becomes the real product which is visible and at the same time tangible. This is the ACTUAL product. After Austral Masonry brand has reached this level, the customers are in a position to see it and if possible access it. The utility of the brand is also evident to the consumers in the market. Finally, Austral Masonry brand goes to the AUGMENTED level. This is after the customers have accessed the utility of the brand. This is the non-physical part that the brand undergoes. There are usually other services that are enjoyed in line with the Austral Masonry brand. For instance, Austral Masonry has been giving after-sales services to the consumers so as to encourage them to buy more. Austral Masonry has no line and mix strategy as it offers brands that are utilized together, ideally, it only offers products in the same line. These are the building and construction materials. Austral Masonry has specialized in tine construction and building materials. However, the research paper suggests that, if it develops product line and mix strategies, the scale of operation is likely to expand. However, this requires careful consideration of the impacts attributed to the development of the same.
Recommendation of the best pricing strategy
There are several pricing strategies that any company can adopt in the market. However, the pricing strategy chosen may be impactful on the performance of the company. The study suggests that Austral Masonry should consider the best pricing strategy in the market to compete successfully with close competitors. The study recommends that a customer value-based pricing strategy is the most outstanding pricing strategy that the product line needs to adopt. Ideally, the pricing strategies that the product group can use are three, including the customer value-based, competition-based, and cost-based (Kubara, 2017). A compnay that yearns to success is the one that sets the prices of products based on the customer value-based strategy. Notably, the other two pricing strategies are inclined to this strategy. This is ideally the pricing strategy that is concerned with the customers before considering other factors such as the competitors and the cost of production in setting the price of the brand. Austral Masonry should consider using this strategy regardless of the price of its brand. Customers in the 21st century are more concerned with the benefits inclined with the consumption of a particular product rather than the prices. For instance, it is not funny in today's market for a consumer to go for more expensive products and forgo the cheap ones. This is the scenario with the product group. Austral Masonry has discerned this pricing strategy. There is a need to focus on how the particular brand will be in a position to satisfy the needs of the consumer before setting the actual prices. Additionally, the product group does research on developing new products. Several statistics are taken from the market to identify the brand that best meets customer needs (Baxt, 2017). The management of the Austral Masonry believes that, if the customer is satisfied, then there is a likelihood that, they will purchase their brand. Thus the central theme of any organization should be satisfying the customer and not the price of the brand. Satisfied customers are happy and loyal customers.
Austral Masonry Distribution Approach
Austral Masonry has operated in the market for more than a century and thus it has adopted the best distribution channels. The distribution channel that the Product line employs is diversified. This entails that it does not rely on one particular channel of distribution. The strategy that the product group has relied on is the intensive channels of distribution. This is the distribution strategy that enabled Austral Masonry to reach many customers across the globe by utilizing many outlets as possible. The Austral Masonry construction materials are accessible to several market segments across the continent. There is a diversity of agents that product has employed across Australia from where the construction and building materials are accessible to the consumer (Crean, L’Estrange, Chambers & Berzcelly, 2017). The customer base of the brand has increased immensely because of the adopted distribution channels. It is currently in a position to enter the most competitive markets despite the competition. For instance, the Austral Masonry was in a position to enter into the North America Market. After the proposal to enter the market, many predicted that the product group performance would deteriorate. However, this has not been the case since the performance of Austral Masonry has increased immensely. This is the distribution strategy that has enabled the product group to acquire economies of scale in the industry and remains to be relevant in the future.
Promotional Strategy and Mix Strategy Suggested
The promotional mix strategy has been employed by the Austral Masonry in marketing its products. Each of the promotional mix tools has been relevant in promoting the product group brand in the market. Ideally, different customers are impacted differently by each of the promotional mix tools used by the Austral Masonry (Kabir, 2020). They include advertising, public relations, advertising, and personal selling. Each of these is evident, and have impacted the buying behavior of the customer. However, advertising is the most influential promotional tool for its brand. The Product group on the other hand should utilize the use of social media to expand the scale of operation in the industry. Social media is one of the promotional strategies that can be very influential to its brand. Most of the potential customers are as well as users of social media and are likely to be influenced by the adverts of social media concerning their brand (Weinstein, 2018). It is through social media through which Austral Masonry can reach more customers and even in the markets in which the product group does not operate. Ultimately it can consider establishing itself in those markets.
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