MARK 5025 Marketing Management

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MARK 5025 Marketing Management

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MARK 5025 Marketing Management

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Course Code: MARK5025
University: University Of South Australia

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Country: Australia

Question:
Anytime Fitness is one of the industries that has seen robust growth with a wide expansion of franchises in recent years with the strategies of attracting new customers based on their affordability and accessibility.Anytime Fitness:• Established in Australia in 2008 (Management 2017)• Owns the market share of 14.8% (regarded as the second largest fitness market in Australia after Fitness and Lifestyle group)• More than 400 gyms operating in Australia (topfranchise, n.d 2018)• Approximately 950 staff working under it (IBIS 2017)• 3,000 gyms operating across 50 states (Newswire, 2015)
 
More people live busy lifestyles, thus find themselves time poor. This drives the need for 24-hour gyms and on-the-go gym technology as well as fitness tracking (IBIS 2017).
• Increase in popularity of gym and body culture. No longer is this just a focus of males, but there is an increase of women ascribing to this culture (Johansson & Andreasson, 2016; Craig & Liberti, 2007).• General public is more health conscious with a better understanding of how to battle obesity with a balanced diet and regular exercise. This has been boosted by popular fitness TV shows (The Biggest Loser) and popular social media fitness personalities that promote fitness (IBIS 2017).
Answer:
Avant-garde and attractive can design and vast Monster Army (online audience)Strong brand identity and loyal customer baseLow priced product accessibility (Monster is halfpriced than Red Bull)Large product depth and secure financial positionLack of mass media advertising and top-of-mind awarenessAggressive product designing intimidates female buyersMarketing audience is constrained to acute sport fans and energetic musicProduct distribution model is limitedAmple opportunities to enter in new and developing marketsIntelligence incorporation in healthy natural drinks production for growing visibility and revenuesBuyout Target for being picked up by larger business like PepsiCoGrowing consumer awareness about side effects of its long-term consumptionRise in competition may drive in potential price warStrict government’s regulation on energy drink mark
 
External factors like governmental policies and regulations such as tax reforms, political stability in Australia and good Intra-governmental relationships serves as a source of opportunity for Monster.Moderate impact on Monster and threat factors includes pressure on caffeine and taurine rates, government health policies and restrictive laws.Third world countries indirectly halted comparing to Australia. (Trifu, Girneata and Potcovaru 2014)Product innovation has always been the core focus of Monster to maintain stability and calibre in the energy drink industry.Performance is directly proportionate to the stability of Australia’s economy besides providing more channels for opportunities.Impact is moderate and the possible threats include recession, declined purchasing power, high price, market maturity for carbonated soft drinks and increased demand for substitute drink. (Hovenkamp 2015)The impact of this factor is higher.Customers’ beliefs and attitudes are critical to comprehend the Australian market to design the marketing message.Factors include populations’ demography, social status, hierarchy and power structure within society, educational level, culture, and unemployment, leisure interests, consumers’health.Threats include ageing Australian population and health concerns of consumers putting a question mark on the future of energy drinks market. (Abhishek and McDonald 2018)Impact of this factor is low the production and distribution of Monster can be impacted by technological developmentHave a real social media presence for reaching its target market i.e. young consumers.R&D impacts the product offerings, affects the cost and value chain structure.Increased automation trend creates great business expansion opportunity for the brand.(Trifu, Girneata and Potcovaru 2014)The impact is highEvaluate the environmental standards like climate change, environment pollution regulating laws, water pollution regulations, recycling, waste disposal policies, support and attitude for renewable energy etc. is critical.Climate change is occasionally a threat and also an opportunity for Monster during business expansionLegal framework and institutions like anti-trust law in beverages, discrimination law,copyright, patents/intellectual property law, customer protection and ecommerce,employment law and data protection in many countries are not robust.Such markets should be evaluated as it increases the risks of stealing its secret sauce thereby,the competitive edge. (Hovenkamp 2015)The impact is moderateMonster is tied by the legal elements like health safety regulation Monster is tied by the legal elements like health safety regulation
 
PRODUCT: Monster is just not an energy drink but a sense of lifestyle and qualityMonster identifiable instantly through immensely discernible brandingHealthy energy drink armed with necessary nutrients and herbs to boost consumers break in energy and focusGood substitute of coffee and costly espresso drinks.Nutraceutical products combining vegetable juices with fortified minerals and vitamins together with caffeine and Taurine are not available in the Australian market, making it a key factor influencing customers’ decision to buy MonsterRed Bull sticks to its composition over the years. (Kumar and Ray 2018)PRICE: High pricing is used for differentiating the product from direct (Red Bull) and indirect competitors (soft drinks, coffee and tea providers).
Monsters high prices stress the strategic position and differentiation within the market and products target.Customers recognizing its quality and properties buy the brand resulting into demand not elastic to price.Red Bull also uses premium pricing is also however, it is 3 to 6 times more expensive. (Genoveva and Siam 2017)PLACE: Products are distributed to 114 countries and territories via specialty chains, club stores,drug chains, activity centres, retail grocers and wholesalers, mass merchandisersRed Bull is sold in 167 countries via similar distribution channels.
PROMOTION: For brand promotion well-developed marketing strategy is used comprising buzz marketing, sponsorship, television and print advertising.Push pull method is used for reaching directly to consumers for creating experiences.Branded vehicles are parked at different event, offering free samples to consumersRed Bull spends millions of dollars on promotion via ATL, BTL and digital channels.Event and sports marketing and product sampling is also used. (Sharma and Nasreen 2018)
 
Lack of innovative idea for standing out immediately makes entry into this industry challenging with high entry barriers.Huge investments made by the key players have earned them their position in the Australian market, which a new entrant needs to match.Establishing distribution channel is an entry barrier for new entrants besides gaining decent market share.Coffee and homemade fruit smoothies are substitutes of energy drinks.Caloric intake, convenience, stimulating time and naturalness are the cons of fruit smoothiesEnergy drinks are bickered for being unhealthy that can escalate the use of substitutes.Although best quality products are used, controversies do exist.Consumption by customers is continuous, lowering the threat of substitution in the Australian market.Energy drinks market, know for brand loyalty is small despite of multiple competitors.With combined market share, bargaining power is held by energy drinks over buyers.Moderate price rise will not affect their market share owing to massive brand loyalty.High earning customers are targeted with premium pricing and they are not price sensitive.sBulk quantities of raw materials involved in the production process, makes it profitable for suppliers.While switching suppliers, the cost of switching is low, leaving the supplier with no bargaining power to influence the products pricing.Most suppliers are known for the brand associated with, reflecting their low bargaining power.Energy drinks market in Australia in 2015 reaped global revenues around $805.7m.CAGR expanding at 2.60%, reaching a total of 128.6 million litresBeing a big market for energy drinks, demand in Australia will remain high
References
Genoveva, G. and Siam, S. T. (2017). Analysis of marketing strategy and competitive advantage. International Journal of Economic.Perspectives, 11(1), 1571-1579. Available: https://search.proquest.com/docview/1964557363?accountid=30552
Hovenkamp, H. (2015). Fractured markets and legal institutions. Iowa Law Review, 100(2), 617-661. Available:https://search.proquest.com/docview/1686794637?accountid=30552
Kamasak, R. (2017). The contribution of tangible and intangible resources, and capabilities to a firm’s profitability and market performance,
European Journal of Management and Business Economics, 26(2), 252-275. Available: https://dx.doi.org/10.1108/EJMBE-07-2017-015 Kharub, M. and Sharma, R. (2017). Comparative analyses of competitive advantage using porter diamond model (the case of MSMEs in himachal
Pradesh). Competitiveness Review, 27(2), 132-160. Available: https://dx.doi.org/10.1108/CR-02-2016-0007Kumar, N. and Ray, S. (2018). Attitude towards soft drinks and its consumption pattern: A study of gen Y consumers of India. British Food Journal,
120(2), 355-366. Available: https:// search.proquest.com/docview/1992592357?accountid=30552Sharma, Y. and Nasreen, R. (2018). Perceived Cosnsumer-Centric Marketing- Mix at the Urban Bottom of The Pyramid- An Empirical Study of Non-Core Food Items. International Journal of Information, Business and Management, 10(1), 89-107. Available: https://search.proquest.com/docview/1966056245?accountid=30552
Sitnikov, C., Vasilescu, L., Ogarca, R. and Tudor, S. (2015). Matrix Model for Choosing Green Marketing Sustainable Strategic Alternatives.Amfiteatru conomic, 17(40), 909-926. Available:https://search.proquest.com/docview/1700707998?accountid=30552Trifu,A.E.,Girneata, A. and Potcovaru, M. (2014). Influence of natural factors upon the organization activities. 

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