MKTG1001 Foodbank NSW Analysis Assignment Sample

• Subject Code : MKTG1001
• University : Macquarie University My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name : Marketing

Marketing Fundamentals

Table of Contents

Background.

Promotional Mix.

Advertising.

Public relations.

Digital marketing.

Conclusion.

Reference List

Background of Foodbank NSW Analysis

Basically, the targeted market of Foodbank NSW is the college students, community youth groups, and faith-based groups. The main priority and aim of Foodbank NSW are on the college students who act as volunteers to the Foodbank NSW and help them in pick and pack foodstuffs. For product, the main differentiation of Foodbank NSW is that it neither picks nor pack the ordered foods which require refrigerating, expired food, leftovers, baked food, and the food that needs packing (Hult and Ketchen, 2017). For image, the image of Foodbank NSW is very distinguished and the history of Foodbank is also famous which helps Foodbank to attract college students. For the channel, the transportation channel of Foodbank NSW is very fast, and easy is more students were taken as volunteers. The positioning statement of Foodbank reflects the position of Foodbank NSW in relation to its competitors where it is clearly seen that Foodbank NSW is supporting more than 81500 Australians by feeding them every month which is a big number for their competitions.

Promotional Mix

The promotion mix relates to how companies incorporate a combination of methods of marketing strategy to carry out their marketing operations.

Advertising

Any paying method of a presentation by an approved supporter of innovations, products, or services. Marketing campaigns have traditionally been targeted to a demographic and hire mass media like radio, TV, newspapers, and magazines (Kanten and Darma, 2017). Advertisement could also target users depending on their profile attributes or behavior; sources are the weekly advertisements delivered to local communities by retailers or online billboard advertisements directed at people depending on the blogs they use or certain search words on the Internet.

Advertising in the Foodbank poses distinct barriers to advertisers and at the same time offering substantial benefits. Foodbanks compete with items that are extremely scarce which can cater to a market as large or small as they choose (Kingsnorth, 2019). Food advertisement campaigns can exploit sensual attractions to a more effective basis than most other product types: flavor, scent, hearing, texture, even food goods could at once target buyers on a realistic, physiological as well as intimate level.

Foodbanks, including social media, email and instant messages, are ideally equipped to exploit digital media food advertisement tactics. Sending a post which makes individuals want to share the message is the basis of making a successful social media commercial. It is almost certain that food as well as entertainment options will dominate the list of topics people want to discuss and chat about. Foodbanks as well as grocery stores will explicitly connect their promotional efforts to the advertising strategies (Morgan et al.2019). For instance, an ad in a newspaper can contain a coupon which readers could even cut out and carry for a discount in shops. In order to get a coupon or special foodstuff in a supermarket, TV and radio commercials can have a promotional code or term viewers are using. Where they have printable coupons with coupon codes, online advertising may be particularly effective (Patrutiu-Baltes, 2016). The main positioning of the Foodbank NSW is that it offers foodstuff which is healthy and nutritious so it is easy to advertise the foodstuffs with guaranteed healthy food that leads to attracting more healthy customers to eat food.

As a marketing communication tool, advertisement has its benefits and drawbacks. In terms of benefits, as a company engages in promoting itself and its goods in a public arena, publicity generates a feeling of prestige or validity. The main disadvantage of advertising is cost. Marketers doubt whether it is actually cost-effective to target large audiences through this communication method (Rutz and Watson, 2019). Successful advertising begins with much the same founding principles as every other IMC advertisement: the target demographic and the advertisement targets are established. It is crucial to understand the strategic role advertisement can play compared to other marketing engagement strategies as advertisement is part of a larger IMC initiative. The next move is to establish an innovative approach for creating convincing ads with consistency about the target demographic, campaign plan, and budget. There are three key targets for advertising: telling, persuading, and reminding. Informative Advertising generates market recognition, products, resources, and concepts (Song et al.2018). It reveals new goods and services and will teach people regarding new or existing goods' strengths and benefits.

Public Relations

The aim of public relations is to build goodwill among the company and the "public" or targeted audience it is seeking to attract (or the stuff it encourages). This arises through free or received advertising opportunities: posts, media as well as media reports, winning prizes, offering conference and exhibition presentations, and sometimes even gaining positive exposure by vehicles never paying for by the supporter. Since organizations gain the PR exposure they obtain instead of paying for it, organizations may invest considerable money in the programs, events, and individuals that attract this exposure.

The method of preserving a positive reputation and establishing advantageous partnerships between an agency as well as the public communities, associations, and individuals it represents is public relations (PR). Public relations doesn't really pay for exposure or advertising, unlike advertising, which seeks to generate positive views through paying communications (Taoketao et al.2018). Rather, by attracting attention to the organization’s relevant as well as publicity-worthy operations and its clients, PR aims to achieve a desirable profile. PR is sometimes referred to as "free advertising" for this purpose. In addition, PR is not really a costless method of marketing. It needs wages to be charged to persons who manage and enforce the policy of PR. It also covers expenses involved with meetings, sponsorships as well as other things related to PR.

This Promotion mix is best for Foodbank NSW as it is a very cheap source of Integrated Marketing Communication tool and as Foodbank is a charitable unit in Australia so it will help to cut the expenses and cost relative to other promotional tools. Among the most powerful and successful ways to advertise and develop an organization into a name is public relations. For Foodbank in Australia, it may be claimed that the main brand ambassadors are the consistency of their food as well as the most popular method to promote the organization or brand.

Here are some of the points on how public relation helps Foodbank NSW and is important for it:

• Visibility for the food industry improves

Competition has been very difficult with several competitors in the industry and the chance of the company being found by the right customer audience has been smaller. It is important to provide a PR agency that will improve the exposure on new channels and also market the food company on conventional platforms to select the right type of consumers in order to make both possibilities greater.

• Power the food product about the grocery

A strong PR business will also assist the Foodbank NSW to sell their goods in the desired manner. For eg, if new drinks are introduced, efficient PR will generate excitement and curiosity about the product. In addition, it is therefore essential to send the correct form of message through networks to help individuals appreciate the product's advantages and USPs.

By developing a connection that encourages two-way contact, PR campaigns seek to close the divide between business and customers. Perhaps it is among the most apparent reasons which a public marketing campaign would like to boost is that it would help create sales.

Digital Marketing

Digital marketing encompasses a large area, from blogs to marketing for search engines, content, as well as social media. With technical advancements, digital marketing methods and strategies are developing rapidly, however, this umbrella term encompasses every one of the ways emerging technologies have been used to advertise and promote companies, goods, services, innovations, and interactions. One of the markets revolutionized by Digital Marketing is the food industry. Accessing feedback on every food as well as dining joint with internet connectivity on their cell phones is becoming very convenient for foodies to access. In tough times, digital marketing helps each and every business to stable and grow. As the number of peoples connecting through digital marketing is more, thus it very easy for Foodbank NSW to take this as a promotional tool for its business. And as it is a type of charitable business, thus it can get feedback from its customers and eaters online very easily.

Digital marketing is an umbrella word for promoting and marketing goods, services, organisations as well as brands through digital methods. The influence and value of digital marketing have grown as customers and enterprises become more dependent on digital networking. Two interactive methods have already been addressed in direct marketing: email as well as mobile marketing, which fall in these categories.

Digital marketing, in particular, is increasingly relevant because consumers often use digital technology, and where consumers are, marketing has to work. Yet digital marketing platforms have several other special features that set themselves besides other conventional contact platforms for (pre-digital) marketing. Such skills make them ideally tailored to business objectives. Digital Marketing methods are:

• Interactive: Engaging with targeted customers is the main goal of several digital marketing tools and initiatives so that they become fully involved in the process, preferably at several points in time. By visiting a website, enjoying a game, reacting to a poll, sharing a comment, sending an email address, writing a review, or just 'liking' an article, it can happen. It is no longer necessary to expect customers to actively display an advertising campaign: advertisers are now searching for ways to communicate.
• Highly observable and guided by knowledge: New systems provide mountains of knowledge about who does what, where, how, as well as with whom. Similarly, digital marketing platforms enable advertisers to decide more clearly whoever they want to target, how to target them, as well as what happens as individuals start the process of being a buyer. Marketers will also define which networks are more efficient for getting users into the platform by monitoring and evaluating this information as well as what kinds of connexions are more successful in converting them to consumers.
• Shareable: It is possible to share things at little to no price as digital marketing platforms are digital, an advantage for advertisers and users who discover the information they would like to spread virally. Images, plays, blogs, posts, photographs, and brands, all variety of transparent or secret marketing objects, are regularly exchanged by individuals. The extent to which everything is exchanged has actually been a crucial indicator to validate how efficient that is as a marketing vehicle.

Conclusion on Foodbank NSW Analysis

From assessment 2, it can be clearly concluded that college students are the main target audience for Foodbank NSW as they can be appointed as volunteers and can help Foodbank in picks and packs the foodstuff and also to transfer them from warehouses to the required person. Moreover, the report clearly defines the positioning statement of Foodbank that is where it stands among its competitors and it stands for good from its competitors in providing good quality and healthy foodstuffs. And Foodbank NSW is a distribution of food campaigns and it also helps the people in disaster time. The differentiation of Foodbank NSW is in its quality, product, and channel. It provides a good and unique quality of the product far from its competitors. At last, the assessment reflects the main target and consumer profile of the Foodbank NSW so that it can be better understood for new customers. In assessment 3, it can be concluded that the three Promotional tools that are taken as a good Integrated Marketing Communication Campaign are Advertising, Public Relations, and Digital Marketing. It also describes how these tools are separately helping the Foodbank NSW to increase its sales and grow. Among these, the best tool for promotion is Digital Marketing as today’s generation is shifting towards the digital world and thus it helps the most in growing sales and increasing revenue. The digital platform is a golden platform for Foodbank NSW which it must adapt so that it helps to achieve its goals. All these have their advantages and disadvantages in a particular industry and market respectively. Thus the implication of these promotional tools on Foodbank NSW is that it is a very dynamic marketplace in Australia, one where public relations is commonly used. Some might claim that, simply since it is such a dynamic environment, this practice is really a requirement for doing business. While much will be recognized about the aim of the promotional operation, little is recognized as to what actually happens at an incremental stage, and what the possible effects of promotional actions might be in the coming years. Even so, the creation of a study of marketing strategies in the Foodbank NSW has seen concern about the possible effects of the misuse of price-based promotions.

Reference List for Foodbank NSW Analysis

Hult, G.T.M. and Ketchen, D.J., 2017. Disruptive marketing strategy. Ams Review, 7(1-2), pp.20-25.

Kanten, I.K. and Darma, G.S., 2017. Consumer Behaviour, Marketing Strategy, Customer Satisfaction, and Business Performance. Jurnal Manajemen Bisnis, 14(2), pp.143-165.

Kingsnorth, S., 2019. Digital marketing strategy: an integrated approach to online marketing. Kogan Page Publishers.

Morgan, N.A., Whitler, K.A., Feng, H. and Chari, S., 2019. Research in marketing strategy. Journal of the Academy of Marketing Science, 47(1), pp.4-29.

Patrutiu-Baltes, L., 2016. Inbound Marketing-the most important digital marketing strategy. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 9(2), p.61.

Rutz, O.J. and Watson, G.F., 2019. Endogeneity and marketing strategy research: an overview. Journal of the Academy of Marketing Science, 47(3), pp.479-498.

Song, R., Moon, S., Chen, H.A. and Houston, M.B., 2018. When marketing strategy meets culture: the role of culture in product evaluations. Journal of the Academy of Marketing Science, 46(3), pp.384-402.

Taoketao, E., Feng, T., Song, Y. and Nie, Y., 2018. Does sustainability marketing strategy achieve payback profits? A signaling theory perspective. Corporate Social Responsibility and Environmental Management, 25(6), pp.1039-1049.

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