The business and marketing environment persisting in Australia market

Summary

Australia is one of the growing economies. From the report, it can be concluded that Australia has been a developing country in which chocolate companies can invest in having ample of opportunities. Haigh’s chocolate is a small company and wants to expand more and wants to sell its products and services in the Australia market. It also understands the strength and weaknesses of the competitors and prepares international marketing strategy, which helps it to cope with the risk and to fight the competition. It also measures the market and environment so that the future can be predicted and strategies can be made. Australia is the fastest-growing chocolate market. Australia considers chocolate as a luxury item. Australia loves chocolate. In Australia, there is a large production of cacao beans. Further cacao beans are exported in large amounts to Europe and the United States. The producers of Australia are trying to produce chocolate at affordable and high quality(Mordor Intelligence, 2016). The chocolate was used to be imported by industries in Australia, but now the in house production of chocolate has been initiated, and also there is more innovative and complex products are produced for customers. Thus for Haigh’s chocolate, the Australian market is good and also involves a lot of opportunities to grow.

Overview of the Company

This report will concentrate on identifying the business and marketing environment persisting in Australia market. The report will consult the Haigh’s Chocolates in Australia which is chocolate maker Company and makes fine chocolates from coeca, economic environment, social environment; technological environment which can promote Haigh’s Chocolates to conclude its marketing activities, competitive environment will also be discussed in Australia in order to gain knowledge on the level of competition and its impact on Haigh’s Chocolates. In last report will discuss on various pillars and elements of marketing in marketing internationally. One of the methods is being chosen to analyze the market is PESTEL. The marketing research is being done in the Australia market so that the Haigh’s Chocolates can be sold.

The policies are being made by the government in order to take care of the environment and the natural resources. Australia is a developing country, it has a democratic government. So, people have the right to choose the product which is being present in the market. In the market, various products are available to satisfy the demands of the market. Though the organization is very small in size and has fewer funds, it needs to understand the rules and regulations made by the Australian government. The trade policies are to be followed, which is being implemented on the trading of the product.

The financial position of the country is being analyzed by analyzing the economy of the country. The economy of the country must be strong and has many of the positive factors which can give a boom to the economy. The per capita income of the person living in Australia is high and has a good lifestyle to spend. The money is being circulated at equal intervals so that shortage must not be arises. Haigh’s chocolate has to check the financial position of the country in Australia. Economic status has to be analyzed as to sell the product in the market.

Company’s current integrated communication mix

Stability in the environment is one of the important factors to function effectively in a competitive environment. Competition is very healthy in Australia. The government of Australia has also established a complete policy in order to ensure healthily and competition, which is providing immense benefits to customers. The market of Australia is highly regulated, thus ensures that there is no violation of competition laws and provisions. There is also a rise in competitors in the industry of Haigh’s Chocolates, which is very risky and threatens for Company to survive in the long run. It will largely depend on the amount of supply from the new entrants and also the demand of customers for chocolates in the Australia market. The chocolate industry in Australia is threatened by new entrants as new entrants can lead to a decrease in the market share of existing Companies in the chocolate industry.

There are many food and chocolate industries such as Silver Queen, Nestle Australia, Delfi limited, Mayora Indah, and Indo food, which are providing chocolate products. These are the big and significant competitors for Haigh’s chocolate. Companies such as Nestle have their own brand value, which is making it easy for Company to market its products, especially chocolates to Australia. Delfi Limited is a domestic producer of food and chocolates in Australia controls a 5.2% market by its high sales. Local producers such as Delfi and PT Mayora Indah Park using a niche market as a marketing strategy where Company has concentrated on specialized segmented markets to achieve monopoly. These Companies are also promoting and selling goods by segmenting the target market. Producers such as Nestle and Silver Queen in the Australia market are using a multi-market strategy where it is focusing on different markets to reach large customers. Thus, Haigh chocolate will require managing its marketing strategies and has to follow economical pricing and other related factors such as market positioning and setting of the target market. Haigh’s chocolate will have to bring some uniqueness in its chocolate in order to attract large customers and to survive in such a competitive environment of the Australia market. Haigh’s chocolate will also be requiring changing its market positioning by changing the perception of customers of Australia. The market of Australia loves is indulge in the use of cocoa beans; thus, Haigh’s chocolate will either require to follow that or will have to change the perception of customers.

There is a high demand for chocolate by youngsters and adults in the Australia market. The supply of chocolate is relatively high, matching with the demand. Most of the Companies of Australia import chocolates which are highly branded. Thus Haigh’s chocolate can bring uniqueness in its chocolate by bringing different flavors, maintaining high quality, attractive packaging, and low prices of chocolate products, which can fulfill the demand also the taste of importers and customers.

One of the most common behaviors of the customers in the chocolate industry is always the demand for the product at low prices and also at the most extended credit term. Most of the companies in the Australia market, which are generally newly established in the chocolate industry, give several facilities. Still, it fails to meet a specific demand by the customer. Companies in the Australia market also cannot guarantee the security of supply with the best quality. Haigh’s chocolate will also require analyzing the behavior and want of customer as most of the customer at the end only prefer and concern of the prices.

Haigh chocolates to compete with new entrants can adopt niche marketing strategies and can explore niche and can spend time and resources in identifying its ideal customers. Haigh chocolates can also use pricing strategies where it can lower its prices for some specific period and can attract large customers can gradually increase its costs. Haigh chocolates can focus more on improving its customer database, which will help in the proper handling of new entrants as a clear picture can be created of the new competitor and its effects.

Communication mix

Haigh’s Chocolates can either enter into a partnership with other firms in order to market its product. Haigh’s Chocolates can also enter into Joint Ventures, which is another approach to marketing internationally. Haigh’s Chocolates can adopt this marketing where the Company can enter into an agreement with Delfi limited in Australia or Company of any other nation. Haigh’s Chocolates and Delphi limited can further pool resources together to run any program. They can conduct the marketing of their product and also can generate information regarding customer choice, behavior, and characteristics (Mordor Intelligence, 2016). The joint venture will help Haigh’s Chocolates sharing the risk from the government and better local market intelligence. But joint ventures may fail if the culture and management styles of these two companies are not integrated and cooperated. There may be a lack of support and leadership to a new venture or partnership

STP is segmentation, targeting, and positioning, which is an essential part of modern marketing. This model will help Haigh’s Chocolates to prioritize its prepositions and also covey relevant messages to engage with audiences of Australia. Segmentation is separating the Australia market in a smaller group with similar needs and identifiable characteristics. Targeting is focusing on a group of related customers and offering products to them. Positioning is creating a perception among the customers in the Australia market regarding competitive products.

To gain the chocolate market of Australia, the marketer of Haigh’s Chocolates is to create a market activity that can convey the value of the product(Majaro, 2013). Below is provided various elements of marketing which should be considered before initiating marketing:

Haigh’s Chocolates to increase its sales can include and consider many factors such as gaining knowledge on culture, religion, habits, and level of disposable income of people of Australia. Haigh’s Chocolates can market its product where people are habitual of eating at least two or more chocolate in a day. The Australia consumer market is a chocolate lover, and selling chocolate will be secure, and also more customers will get attracted to selling Haigh’s Chocolates. Competitors in Australia are also involved in developing new flavors and variety in chocolates.

Haigh’s Chocolates can decide an attractive and convincing message for people of Australia to attract them for the product. In determining the messaging Company must know Australia people. Haigh’s Chocolates must also evaluate the political climate as any there may include some regulations and legal issues such as copyright, trade regulations, employment laws, and safety from the government of Australia and which is required to be following. Haigh’s Chocolates must also gain knowledge of culture, which is persisting in Australia. The level of media, whether television, news channel social media, must also be evaluated to make most of the selected media channel for conveying of the message.

Promotional tools can be advertising, price promotions, and point of purchase. In advertising, the Company can use maximum advertising, which is commonly used by competitors and rival firms in Australia. Haigh’s Chocolates can provide at lower prices, or can offer free for some specific period where it will earn break-even profits. Haigh’s Chocolates can adopt a promotion tool as per competitor’s strategies, such as the use of competitive pricing in the selling of products by having in house production of chocolates. Haigh’s Chocolates can also build up its way of promoting its product, which can convey a message to large customers. Haigh’s Chocolates must also adopt new technology in developing the product to survive in a competitive world. Internet technology is one of the most adaptive technology by Companies in Australia in the promotion of its goods as this technology is a very cost-effective and attractive one. This technology will also help the companies to reach customers from all over the world

 

Three strategic recommendations

Pricing

In deciding the final price of chocolates for Haigh’s Chocolates will require considering the following factor includes the cost of transportation, import duties, or tariff paid. In thecae of inflation, people will not be able to pay high rates for chocolates as it is not an essential and basic amenity for the survival of people and can be compromised by people for some time. Segmentation of Australia will be difficult for Haigh’s Chocolates as it has the fourth-largest population. Thus Haigh’s Chocolates will be required to focus on a different segment of Australia by analyzing the taste and characteristics of the customer. Haigh’s Chocolates can also divide its portion of the market by educational, purchasing power, population growth, and income. Haigh’s Chocolates can promote its product by concentrating on the segment of the market of Australia, where the population is growing. Chocolate is a product that is highly acceptable with a population of every age. Target customers can be children, students, adults, and youngsters. Haigh’s Chocolates can create a better positioning in the target market by promoting a product which is acceptable by whole family members. Thus these all marketing strategies will definitely support Haigh’s Chocolates to implement its market strategies effectively. Competitors of the chocolate industry in Australia are keeping their prices competitive by having its own production unit. Domestic producers of Australia have good positioning and also control a large population of Australia. Haigh’s chocolate will require looking at its competitor strategies in order to develop its own marketing strategies. It may also be require using different pricing strategies such as economic pricing, price skimming to gain the market. Haigh’s Chocolates will also be requiring looking at the inflation rate and per capita income of Australia in deciding final price for product.

Promotion

Haigh’s Chocolates can decide an attractive and convincing message for people of Australia in order to attract them for the product. In deciding the message company must have the knowledge of Australia people. Haigh’s Chocolates must also evaluate the political climate as any there may some regulations and legal issues such as copyright, trade regulations, employment laws and safety from the government of Australia and which is required to be following. Haigh’s Chocolates must also gain knowledge on culture which is persisting in Australia. The level of media whether television, news channel social media must also be evaluated in order to make most of the selected media channel for conveying of the message

Place

Place is how to distribute products in the international market at the right place and at the right time. This is one of the critical issues in the international market as the distributional channel and perfect time for distribution cannot be evaluated. Australia follows thievery different practice in the distribution of the product. Thus Haigh’s Chocolates will need to investigate into distribution chain as it can be different due to the cost of transportation and profit margins. Haigh’s Chocolates will be required to see that whether the product sells directly to customers or there are some mediators such as retailers, wholesalers in the whole supply chain. Haigh’s Chocolates can cover that market where competitors are not involved and has not covered that market

Conclusively, this report has addressed to Australia market effectively. Further, it can be concluded that Haigh’s Chocolates has an ample of opportunities in entering to Australia market. Australians are great lover of chocolate. The chocolate producers in Australia import chocolates from any other Country. This can also be a positive point for Company as it can bring its own chocolate and attract many customers. Haigh’s Chocolates with its different taste in chocolates can cover large customers in chocolate industry of Australia.

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