Marketing Opportunities

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  • Topic: Marketing, Sales, Marketing strategy
  • Pages : 17 (4984 words )
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  • Published : March 31, 2013
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Company Profile

BBQfun is one of Queensland's specialty retailers. The BBQfun brand is synonymous with barbeque retailing and is built on the strong foundation of selling barbeques and outdoor lifestyle itmes to Queensland consumers since 2009.

BBQfun’s product range is primarily focussed on barbeques and outdoor lifestyle products, incorporating both local and important goods. BBQfun operates two store in Queensland, one in Brisbane and one at the Gold Coast.

BBQfun provides to customer great value products, excellent customer service, continuously improvement and innovation and is trusted by more than 10,000 customers in Queensland.

Situation analysis

The retail market changed over the last few years, it became more competitive than ever before. Therefore consumer buying patters changed as well.

BBQfun increased they market share until 2010 steadily to $10m. Since 2010, sales dropped dramatically because of changes in the retail market, technology and changed consumer behavior.

BBQfun has moderate pricing, extensive and high-quality product range, excellent customer service and offer three year product guarantees as only one in the market.

BBQfun has identify the basic market need is for quality, fashionable and unique outdoor lifestyle items.

Market characteristics
Queensland has a population growth of 5% (2.5% in 2012 ABS) annual. New homes buyer and renovated houses growing steadily from a base of 50,000 per year. Unfortunately the low unemployment rate of 4,7% grow to 5.4% in 2012 in Queensland. Therefore Queensland has now the second highest rate in Australia.

BBQfun is targeting the geographic area of Brisbane with a total population of 2m people and also the direct area with a radius of 30km around the store. The aimed total targeted population is estimated at 450,000 people.

Typical customer are males and females, age between 20 and 50 years. Amongst them is a high number of young professionals who working in the CBD of Brisbane and having completed under-graduated or post-graduated studies. The average disposable income is over $70k.

Market needs
BBQfun has identify the basic market need is for quality, fashionable and unique outdoor lifestlye items.

Customer requirements
Consumers like to have a wide range of different products and options. The store should be easily access-able with a minimal inconvenience for the customer. BBQfun has a great reputation for customer service which is always valued by consumers within this market. Consumer asking for price transparency to compare with competitors and payment plans. Products with warranty increasing consumer popularity.

Market trends
The trends in the market leads to quality, uniqueness and wider selection. Consumers who are in search for high quality items learn to appreciate value over price. Consumers like to have a vast selection or high diversity of products with varying price ranges. They are also looking for specialistic products which stand-out from the mass-productive crowd.

Market Growth
In 2009 the national outdoor lifestyle market reached 3 million dollars with an estimated growth of at least 6% over the next few years. Research demonstrates that consumers will be having a greater disposable income within the mere future with the assumption that on average two persons will be living under the same household. The economic forecast also states that interest rates will stay steady and will have no effect on disposable income. There is also an increasing popularity of T.V lifestyle programs which provides free-marketing to BBQfun. The market trend also shows that consumers are interested in high quality imports that remain affordable.

Market Competition
There are three major existing national competitors: The Yard, BBQ’s R Us and Outdoorz. The Yard is only become a threat to BBQfun if the business decision to enter the e-commerce market. Advantageously, The Yard does not trade in Queensland...
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