Western Australian Meat Marketing Co-Operation: Marketing Strategies (Essay Sample)

A project report on CRITICAL ANALYSIS AND EVALUATION OF THE IMPACT OF EXTERNAL ENVIRONMENTAL FORCES IN WESTERN AUSTRALIAN MEAT MARKETING CO-OPERATION ON ITS MARKERTING PLANS AND STRATEGIES. Submitted in partial fulfillment of the requirements for the degree in DEGREE/COURSE NAME by NAME OF THE STUDENT: INSTRUCTOR’S NAME: UNIVERSITY NAME: SUBMISSION DUE DATE: WORD COUNT: 1380. EXECUTIVE SUMMARY We select Western Australian Meat Marketing Co-operative for our study. This is a locally owned Co-operative which gets its revenue from Marketing, Manufacturing and exportation of lamb and meat products. The company usually sells its products locally and internationally. In our selection for the purpose of this study, we choose skin as the product for our analysis in this project. We demonstrate external marketing forces and analyze marketing concepts and theories affecting this product. During this study, a critical evaluation and analysis is carried out on the impact of environmental forces and its influence on the organization’s marketing strategies and plans. After our analysis we make our study recommendations and conclusion. TABLE OF CONTENTS 1 Introduction…………………………………………………………………………..4. 2 Case Background……………………………………………………………………..5. 3 Theoretical Framework……………………………………………………………….5. 4 Environmental analysis.........................................................................................…....6. * Competition……………………………………………………….…………..6. * Legal and regulatory issues...………………………………………………….6. * Technological advancements..………………………………………………...7. * Economic growth and stability.……………………………………………….7. * Socio-cultural trends………………………………………………………….7. * Political trends………………………………………………………………...8. 5 Summary of opportunities and threats………………………………………………...8. 6 Conclusion…………………………………………………………………………….9. 7 References…………………………………………………………………………….10. INTRODUCTION The purpose of this research project is to undertake an analysis on the external environment for a specific product in a marketing organization in Australia. This research project demonstrates and analyzes external marketing environments using relevant marketing theories and concepts that affect our selected organization. A critical analysis and evaluation of the impact of external marketing forces on the marketing plans and strategies of the organization is carried out. This research paper is submitted in partial fulfillment of the course requirements and it has been duly authorized by the Course Coordinator. The limitation of this paper is that the time used to carry out the study was not much enough to cover all the areas of the topic under study. The number of words specified in the project requirement is limited and all the information relevant to this project could not be written in this paper. Secondary data was used for analysis and completion of this task. It cannot be fully relied on since secondary data is likely to have distortions. CASE BACKGROUND This is a marketing company engaged in manufacturing and marketing of meat and meat products. The organization is based in East Perth, Australia. The organization was formed in 1971. Its major activities lie in the Meat industry. It offers varieties of meat products such as lamp, offals, mutton, wet salted lamp, sheep and goat skins. Blood meal, tallow, meat and bone meal are the byproducts the company manufactures. The organization is controlled by a Board of Directors comprising of strategic mix of producer members, elected by members who are active and independent directors, whose appointment is confirmed by the active members. The organization sells its products both locally and internationally. In the international markets, its products are exported to Africa, Europe, America and Asia. THEORETICAL FRAMEWORK A basic marketing theory states that to maximize sales, a company must position its products or services in the marketplace in such a way that consumers believe they need a particular product for service or that a product or service they need has a particular benefit (Bell, 1972). This positioning assists an organization to have a competitive advantage over the others in the industry. To attain a competitive edge over the others in the market, the company needs to analyze all the forces that could affect its positioning. External environment for Western Australian Meat Marketing Cooperative would include all forces outside the organization’s control but have direct impact on drawing on its marketing plans and strategies. External marketing environmental analysis will involve identification of all the external elements, which can affect the organization’s performance. The analysis entails assessing the level of threat or opportunity the factors might present. These evaluations are later translated into the decision-making process. The analysis helps align strategies with the firm’s environment (Baker, 1987). In the case of Western Australian Meat Marketing Cooperative, we have selected the skin product as the basis for our analysis of the environmental forces affecting it. After evaluation, we found out that Technological advancements, Legal and regulatory issues, Economic growth and stability and competition were the most pertinent issues surrounding the organization. ENVIRONMENTAL ANALYSIS Each and every organization is faced with external forces which have to be factored in when drawing an organization’s marketing strategies and plans. These forces are important to Western Australian Meat Marketing Cooperative in attaining a competitive advantage. * Competition Competition is a common phenomenon in every industry. In this organization, we find that the organization is faced with a lot of competition from the other companies in the same industry. There are however opportunities which the firm can realize from the challenge of competition. In the organization’s quest to gain a competitive edge, it may develop new markets or expand its market share. Also, there are threats posed by competition such as emergence of new pricing models in the market. * Legal and regulatory issues. These are the laws and legal policies that guide the land. Change in government regulations and business operation standards may make the organization gain new market share if the policies are friendly to the organization. However, there is also a threat of loss of market for its products and the organization need to factor this while ‘drawing’ its marketing plans and strategies. * Technological advancements Technology advancements refer to changes in technological infrastructure related to manufacturing, operations and human development. Technological advancements may create an opportunity for the organization to adopt the use of new techniques hence quality production. However, the same may cause obsolescence and phase out the organization’s product in the market. * Economic growth and stability Economic stability and growth crystalizes to the individual consumption and par-capita income. Economic growth may create an opportunity for expanding market and demand, which the organi...