STRATEGIC MARKETING PLAN for Australian wine

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Transcript STRATEGIC MARKETING PLAN for Australian wine

STRATEGIC MARKETING PLAN
for
Australian Wine
ABSTRACT
• This project includes the selection of a
product currently available in Australia and is
planned to be marketed in New Zealand.
• It explains a portion of the marketing
strategic plan which includes• Selection of product and target market and
• Information about target market.
INTRODUCTION
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The product selected for this project is
Australian wine whose marketers had
designed a strategic marketing plan to
promote it in New Zealand by using different
strategies.
Australia had designed a new marketing mix
for its product by planning a new product,
price and promotion strategies.
Strategic Marketing Plan
Particulars
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Product - Australian Wine
Target Market - New Zealand
Reason of selection –
•
In global wine market, people are shifting from basic to
premium bottle wine.
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The young consumers in the old world wine countries are
becoming interested in new world wines.
Continued…..
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Approach towards International trade One of the world’s most liberalized and flourishing free
trade agreement has been designed between Australia and
New Zealand for trading with each other.
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Opportunities –
New Zealand provides a large size export market.
It gives opportunities to develop mutual recognition.
Continued…..
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Demographic Attributes –
Population
4,076,140
Growth rate
0.99%
Composition Ethnic groups
Consumer Preferences People of New Zealand are THE major consumers of the red
wines despite being loyal to the local white wines.
Wines are very famous and well-accepted .
Competitiveness of Australian Wine….
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Strong market research.
Expertise in Winemaking.
Proficiency in technology utilization.
Knowledge about the regional languages.
Recruitment of consultant and an expert to
handle exporting.
Selection of a distributor, who has already
sold the export material.
Trade Environment
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Export Restriction
Any good that has a 50% or more content from Australia can
enter New Zealand without paying any duty.
The products labeled at domestic level meet export
requirements.
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Trade Policy
Goods and services tax (GST) is applied at 12.5 per cent.
The Customs authority of New Zealand collects the GST at the
entry point.
Marketing Environment
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Marketing strategy
Progressive marketing strategy.
Product can distinguish itself on the basis of pricing,
quality or region.
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Product strategy
Expanding product offer.
Enhancing the number of volume brands.
Differentiated product.
Continued…..
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Pricing Strategy
Competitive basis.
Well supported by current level.
Promotional Strategy
Promotional pricing.
Advertising in consumer magazines.
Reviews in lifestyle publications.
Wine testing.
Other traditional marketing activities
Difference between home and target
market
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Reason of difference
- Quality-conscious consumers.
- Highly driven by the reputation of a brand.
- Strengthening of New Zealand against the
Australian currency.
- Fierce competition from local brands.
CONCLUSION
The different strategies used by Australian
wine industries can be very useful for them in
tapping the market of New Zealand.
There can be a significant increase in the
sale of Australian wines if new strategic
marketing plan is followed carefully.
In New Zealand, the wine culture is very well
developed
and
provides
enormous
opportunities to the Australian wine industry.
References
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Australian Government: Austratrade. 2008.
Retrieved May 12, 2008, from
http://www.austrade.gov.au/Home/default.aspx
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Wine to New Zealand. 2008. Retrieved May 12,
2008, from
http://www.austrade.gov.au/Wine-to-NewZealand/default.aspx
Continued…..
Australian Wine Sector: Media Briefing. 2007.
Retrieved May 12, 2008, from
http://www.wineaustralia.com/USA/LinkClick.aspx?fileti
cket=0uzw2QA33DQ%3D&tabid=3833
 Wine Gallery. 2005. Retrieved May 12, 2008, from
http://www.winegallery.com/store/pc/viewCat_P.asp?idCategory=38
 Hill, C. W. L.(2005). International Business:
Competing in the Global Marketplace. Tata McGraw Hill.
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