Marketing Plan for News Agency in Darling Harbour

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MARKETING PLAN FOR NEW
NEWS AGENCY IN DARLING HARBOUR

1. Executive Summary
The new news agency in Darling Harbour (where Starbucks was located) has the opportunity to establish itself by being a family owned and operated business which offers excellent customer service and competitive prices. Lottery tickets should be our priority area. This means a separate counter to serve these customers to minimise queuing time and maximise customer service. It also means a comfortable counter to enable customers to choose their lottery numbers. The agency can accept a lower margin on other items and offer lower prices than those charged by the World News Agency. Our agency can do better than the most direct competitor by having opening hours starting at 7am Monday-Friday and 7:30 a.m. Sat-Sun. Building awareness in our catchment area is extremely important. As a top priority, a carefully targeted campaign of mailbox drops, posters and advertising in the local, i.e. suburban newspaper is recommended. 2.1 Environmental Analysis

1.1. 1 Industry Attractivess
2.

How attractive is the industry?
In one word, it’s quite attractive.
Because publishers of newspapers and magazines have to collect and do not get paid for unpaid newspapers and magazines, the bargaining power of suppliers is low. Likewise, companies such as NSW lotteries depend on news agencies as distribution outlets where people can buy lottery tickets, check and claim winnings. The convenience of place and time is crucial because the more distribution outlets, the better. The bargaining power of buyers is not high because haggling is not part of business customs in Australia although buyers have the choice of shopping at a different news agency that is perceived as delivering a higher level of customer service and better value for money (e.g. lower prices). The threat of entrants is low because the number of news agencies allowed to be set up and operate in each area is regulated. As a result, the rivalry among news agencies is low because they can rely on the custom from a catchment area. The threat of substitutes is quite low. While it is possible to buy some newspapers and magazines at convenience stores, people cannot buy all kinds of newspapers and magazines in those places. News agencies are the only places where people can physically buy lottery tickets, check and claim their winnings. 1. 1.2 Business Opportunity

With the vacant space formerly occupied by StarBucks in Darling Harbour, there is an opportunity to open a new news agency. Many visitors to Darling Harbour are not aware of the existence of a news agency on the second floor of Harbourside because that agency (the World News Agency) has to compete with many interesting shops for the attention of passers-by. Some of the people who are aware may find the location of the World News agency inconvenient. 1. 2 Product

The product range offered by this news agency
http://www.claytonnews.com.au/
is a good reference point
PRODUCT CATEGORIES
* Adhesive Tapes, Dispensers & Accessories
* Art, Craft & Hobby Supplies
* Batteries & Photographic
* Books
* Business Books & Forms
* Computer & Printer Accessories
* Desk & Office Accessories
* Diaries, Planners, Organisers & Refills/Accessories * Educational And School Supplies
* Files, Folders, Display Books & Filing Accessories
* Glues & Adhesives
* Health, Hygiene, Utilities & Household
* Lebara Mobile
* Legal Stationery
* Mailing Supplies
* Notes, Flags & Memo Cubes
* Office Machines & Accessories
* Paper Products
* Street Directories, Maps, Atlases, Globes & Postca
* Toys/Games & Party Products
* Writing Instruments, Refills And Correction Items

Given the competition and the very cosmopolitan makeup of the customers, it is recommended that the newspaper and magazine be as wide as possible....
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