Market Environment Analysis And Organization Assessment Answer

Competitors

As mentioned earlier, there are a number of competitors present in the corresponding industry of operation of Bindle. But the products and services provided by Bindle are unique in the market in terms of the quality and creativity of the packaging. This in turn allows the organization to have a competitive advantage in the market (Armstrong, 2014).

Public

The general public in the societies across Australia is another important micro environmental factor, which affects the business operations of the organization. Bindle has to position itself as a reliable, trustworthy and creative brand in the eyes of the public in the corresponding societies. The perception of the organization of the public affects the sales of the products of Bindle to a significant extent (Hollensen, 2015).

Macro environment

The macro environment of Bindle consists of a number of entities in the external environment, which indirectly affect the business operations of the organization. These elements in the external environment of the organization can’t be controlled by the organization. These elements can be analyzed through a PESTLE analysis of Bindle.

Political structure

The political structure of Australia affects the business operations of Bindle in terms of the process of acquiring the products from various bouquets across the country and selling the packaged contents all over the country. The current political structure allows Bindle to easily procure the products from the organizations operating in the local market as it strengthens the economy of the country by supporting the local businesses (Gibbs, 2012).

Economic condition

The economic condition of Australia can have a major impact on the business operations of Bindle in terms of the costs of maintaining the inventory, procuring the products from local market and demands for the products sold by Bindle. The current economic condition of Australia allows the citizens to have a good lifestyle and adequate demand for the gif packages sold by Bindle (Kotler, 2015).

Technology

The technological infrastructure and tools present in the country are enough for Bindle to have an effective model for design and development of an effective business model for the online retail business. The technological advancements in the societies across the country allow Bindle to have effective implementation of the business processes in the online retail industry (Lusch, 2014).

Culture and society

As mentioned earlier, the societies across Australia have seen some recent changes in terms of the economic condition, lifestyle of the people and standard of living, which in turn have started a trend of exchanging high quality gifts among each other. This cultural trend supports the business model of Bindle in terms of selling the customized gif packages over the internet. The current cultural trend of high usage of the internet for purchases also supports the business operations of the organization in Australia (Lusch, 2014).

Regulations and legal system

The current legal system along with the regulations implemented in Australia allows Bindle to have smooth operations for the procurement of the products from the local businesses along with the high quality packaging materials. The regulations also support the business activities of Bindle to sell customized gift packages over the internet (Armstrong, 2014).

Market segmentation

The below mentioned segmentation criteria can be utilized by Bindle to divide the market into a number of segments.

Segmentation base	Segmentation variables
Demographic segmentation
Age	15-19, 20-39, 40-59
Gender	Male, Female
Marital status	Single, Married
Income	Medium, High
Psychographic segmentation
Lifestyle	Lavish
Personality	Creative, Innovative
Hobbies	Wines, Creative designs, Art
Socioeconomic segmentation
Socioeconomic class	Medium, High

The business strategies of Bindle can divide the market into segments of individuals with ages from 15 to 19, 20 to 39 and 40 to 59. Each of these segments with individuals from similar generations can be targeted for different products sold by Bindle. The products of Bindle can also be targeted for market segments containing only males and females. Some of the products sold by the organization attract only female customers and some attract only make customers (Armstrong, 2012). The products can be targeted at specific segments of the market containing individuals with medium and high income. Apart from there demographic factors, the market can also be divided into segments based on the psychographic factors such as lifestyle, personality and hobbies (Czinkota, 2013). The products sold by Bindle can be targeted at the market segment containing individuals with lavish lifestyles who are passionate about creativity and high quality in their gifts. The personality of the customers can also be utilized as segmentation criteria in order to target the products at the market segments containing individuals who appreciate creativity and innovation. Different products sold by Bindle can also be targeted at the market segments with individuals having particular hobbies like wine, art or creative designs. The segmentation of the market in Australia can also be done on the basis of the socioeconomic class of the individuals present in the corresponding societies i.e. the individuals with medium or high socioeconomic class (De, 2013).

Market targeting and customer profile

The market segments defined in the previous section, can be utilized as target markets for different products sold by Bindle. The market segment containing individuals with age from 20 to 39 with a lavish lifestyle along with medium or high socioeconomic status can be considered to be the most effective target market for the products sold by Bindle. The customers in this market segment are 20 to 39 years old and at a high point both in their personal and professional life. The medium or high socioeconomic status along with the lavish lifestyle allows these individuals to show their emotions and love for the loved ones through high quality and highly personalized gifts. The market segment also contains the individuals who are interested or passionate about creativity, innovation and art, which in turn makes them to be attracted towards the products sold by Bindle. Some of the important factors of the customer profile in this targeted market segment include lavish lifestyle, early 20s to late 30s of age, passion for creativity and innovation and medium to high socioeconomic status (Gibbs, 2012).

Differentiation and positioning

This business strategy allows an organization to differentiate its products or services along with its brand image from that of the competitors providing similar products or services.

Bases of differentiation

Product

Bindle should focus on the factors of customization of the gift packages along with the high quality packaging to set its products aside from that of the competitors. The boutique style of the products of Bindle set them aside from the competitors as each of the products of Bindle are handmade and crafted with high quality in the local market followed by being packaged by a number of creative people by keeping a keen eye on creativity and innovation. So the differentiation strategy can focus on these qualities of the products of Bindle aiming closely at creativity, innovation and emotions (Hartley, 2013).

Image

Bindle can also differentiate itself from the competitors in the corresponding market of operation in terms of the image of the organization. The organization can promote the fact that the products sold by Bindle are made with creativity from the products and materials procured from the Australian manufacturers. This in turn allows the organization to be differentiated on the basis of its brand image of using only Australian products and high quality materials with creativity (Hollensen, 2015).

Service

The services provided to the customers to modify the gift packages and the gift cards showing the emotions effectively are some of the services to differentiate Bindle from the competitors.

People

People across the entire country of Australia should be influenced to have a positive perception about the brand, which in turn will allow Bindle to differentiate itself from the competitors (Kotler, 2015).

Channel

The channel of business operations and marketing activities of Bindle can be optimized to use various social networking sites, search engines and smartphone applications to market and promote its products, which in turn leads to the differentiation of the brand from the competitors (Jobber, 2012).

The statement, ‘Creative and unique gift packages from Australians, by Australian and for Australians’ can be utilized by the organization to position the brand image of Bindle to base on the factors of creativity and support of the Australian businesses (Iyer, 2014).

Conclusion and implications

The report analyzed the market environment of Bindle in terms of the company profile, macro and micro environmental factors, market segmentation, marketing targeting, differentiation and positioning strategies. One of the implications for Bindle is to satisfy large demands from the customers across the country in a short period of time, due to the manufacturers being small boutiques in the local market. Bindle can capitalize on attracting more customers in various societies across Australia through allowing full customization of the gift packages from the online retail shop. This in turn will allow the customers to create the gift packages from scratch through an interactive online solution and the organization can ensure that the selected products are packaged according to the needs of the customer and in a creative way (Liu, 2013).

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