Marketing Strategies Argumentative Essay Example

Cockatoos.

The emphasis of healthy living is on consuming healthy food and drinks, reducing alcohol intake, and exercising more. This poses a potential threat to Doorman's PEST analysis, which stands for "Political, Economic, Social, and Technological analysis". This analysis framework is used in the strategic management environmental scanning component. Political factors encompass government regulations, legal issues, and the formal and informal rules in which the company operates. These factors include tax policies, employment laws, environmental regulations, trade restrictions, tariffs, and political stability. Economic factors encompass economic growth, interest rates, exchange rates, and inflation rates.

Economic factors can impact customers' purchasing power and an organization's cost of capital. Social factors consider cultural and demographic aspects in the macro-environment, such as health consciousness, population growth rate, age distribution, career attitudes, and emphasis on safety. Technological factors involve ecological and environmental aspects and can also affect entry barriers, minimum efficient production level, and outsourcing decisions.

Technological factors focus on aspects such as automation, R&D activity, technology incentives, and the pace of technological advancements. The political analysis in the UK government emphasizes the importance of promoting safety in vehicles through advertisements about the consequences of drink driving on one's life. The ongoing decline in the number of fatalities caused by drunk driving is substantial evidence of their collective efforts to bring about a change. The government also considers environmental protection and regulations as a major political factor, aiming to raise awareness among companies about waste distribution and monitoring them closely. Penalties, closure of businesses, and legal action are potential consequences for non-compliance.

Taxation is a crucial political factor that Doorman's and other businesses must take into account. Regardless of their industry, all businesses

are closely examined by the government. To sell their goods or services, Doorman's and other businesses must pay taxes to the government.

Economic Analysis

Currently, Doorman's and similar businesses face a major challenge due to the recession. This economic downturn has resulted in a decrease in disposable income, leading to less spending at establishments like Doorman's. Consequently, there is a significant threat to Doorman's bar as people are likely to go out less frequently and spend less on food and drinks. In order to retain their customers, Doorman's is implementing strategies such as increasing drink sales and food sales.

Doorman's is currently having a January sale, offering very low prices on drinks 7 days a week at any time. This sale aims to attract customers by assuring them that they won't have to spend a lot of money. However, an additional concern is the ongoing economic growth that will lead to an increase in prices for Doorman's products and services throughout the economy. If this economic growth continues, Doorman's will face financial losses as they will have to pay the same amount while receiving the same quantity of products.

The increase in economic growth will lead to a rise in employment levels to meet job demand. The future is uncertain due to constantly changing lifestyles. The emergence of remote work has raised concerns about job loss. Society is shifting as individuals seek higher education for better job opportunities, potentially leading to fewer part-time staff at Doorman's. This poses a threat to the establishment since many employees may be university graduates. Additionally, worries about spending may result in decreased attendance and sales at Doorman's. However, an upside is that Doorman's

contributes to environmental sustainability by recycling boxes through crushing and separating white, green, and brown glass bottles for melting and reuse. This eco-friendly approach gives Doorman's a significant advantage.

Competitor Analysis

A threat or Not Gleason

This would not be a threat as this club is in Cockatoos which is too far away from Doorman's to be a competitor Auckland This would not be a threat as this club is in Cockatoos which is too far away from Doorman's to be a competitor.

The Mint

This would not be a threat as this club is in Cockatoos which is too far away from Doorman's to be a competitor, although this is a very popular bar/night club.

Coach Man Inn

This is also not a threat as it's a small pub which does not compare to Doorman's Downer's Downer's would be a little threat to Doorman's as it's right opposite it and also at times it has a good atmosphere. Although Downer's does not offer food and Doorman's does.

Terrace poses a threat to Doorman's due to its promotions, live bands, and events. However, Doorman's constantly strives to surpass them. On the other hand, Dry Dock does not face any competition as it is solely Justas' pub. Similarly, Flax Minas is also just a pub without any competition.

The Market Tavern is not a threat to Doorman's as it is simply a pub. Marry Bar used to be a threat, but its owners, Doorman's owner's, purchased it and transformed it into a modern high-class nightclub/pub/restaurant. The Elk also offers promotions, food, and nightlife, but it is

not considered a threat to Doorman's as it is located a good distance away from Masterful. "Frameworks or models which can be used to conceptualize or think about a firm's markets, product and customers."

"Doorman's utilizes marketing tools to establish and create an effective marketing strategy. To successfully market this new product, we need to use three key tools: the Product Lifestyle Boston Box Nations Matrix. The product lifestyle entails the launch of a new product that goes through stages such as introduction, growth, maturity, and decline. These stages are part of the strategy and marketing mix. Although every product follows a similar life cycle, they can progress at varying speeds. It is crucial for Doorman's to conduct ongoing research on new products and market trends."

The graph below depicts the relationship between product revenue and profits during different stages of the product lifecycle, with a specific focus on Research and Development.

In the research and development stage, it is vital for the company to establish product awareness and create a market for it. The success or failure of the product heavily relies on thorough research conducted at this stage. We conducted primary research to gather new information through field research or original methods in order to obtain customer feedback on our products. To achieve this, we dedicated time to creating a questionnaire that would provide us with current and specific perspectives from customers about our product. This enabled us to launch it at an optimal time. Our objective is to increase product awareness and educate potential consumers about what we offer.

During the introduction stage, Doorman's implement a focused and intense marketing effort to establish

their product's identity and promote maximum awareness. However, this stage may be challenging for them to make a profit due to the high costs of product launching. It is crucial for Doorman's to closely monitor their product's performance during this phase to determine if it gains traction or needs removal from the market. The pricing strategy applied at the beginning is referred to as skimming since there is little competition for the product. By introducing their product, Doorman's aim to create a new perspective and appeal to a wider audience.

This is a crucial phase for Doorman's as failure to progress beyond this point will result in their product being pulled from the market. The next stage, known as growth, will be driven by consumer interest and characterized by escalating sales and the emergence of competitors. This phase will see a rapid increase in revenue as more customers become aware of the product's benefits, and new market segments are targeted. Doorman's will experience a rise in market share and their product will continue to thrive in the market. Pricing during this stage may remain high if demand is strong or be lowered to attract more customers. As Doorman's product enters this stage, competitors will also be drawn to the market, offering similar services to consumers.

For instance, other taxi services may introduce new promotions or improved services that could impact the growth of Doorman's product. However, during the process of attracting customers, it will enable Doorman's to expand. Additionally, Doorman's has already expanded its operations by acquiring 'Marry bar' and transforming it into a thriving business that is highly favored by the public.

When a product enters

its Maturity stage, competitors start exiting the market, resulting in a significant reduction in sales velocity and the establishment of a steady sales volume. The distribution of the product becomes more intense, and incentives might be provided to encourage consumers to choose it over rival products. As competition continues to evolve in this phase, Doorman's would need to enhance the features of its product to differentiate itself from competitors.

This also means that costs will be significantly reduced compared to the usual due to this new competition. At this point, the market becomes saturated and in some instances, businesses exit the market because of inadequate profitability. However, Doorman's has not experienced this yet. Decline. The ongoing decrease in sales indicates that the market has entered the Decline stage. This could be attributed to enduring competition or the introduction of innovative products into the market.

During the Decline stage, a firm has three options (http://www.)

At the Decline stage, effective management of the product is vital as the market shrinks, leading to a smaller profit pool for the remaining competitors (Entomb.com/marketing/product/lifestyle/). It is essential to contemplate reducing production costs by transferring production to a more cost-effective facility. Moreover, closely monitoring and controlling product inventory is critical during this stage. While certain companies may opt to discontinue a product due to its profitability, this does not apply to Doorman.

Boston Box, also referred to as the Growth-share Matrix, is a valuable tool that assesses products by their market share and growth potential. It offers insights into the financial requirements and cash generation capabilities of these products. Allocation of resources can be done effectively by utilizing this matrix to evaluate the

life-cycle of a project. By employing the Boston Box, businesses can gauge the likelihood of success for their new product in today's market. The matrix consists of four sections, including "Question Marks" which represent new products with low market share but high growth rate.

The text implies that Doorman's has potential but needs significant investment to increase its market share relative to more dominant competitors. The launch of promotions on their DOD and drink raised uncertainties for Doorman's, such as the introduction of 'Beat the Clock' in February. These promotions aimed to attract customers during difficult times caused by the credit crunch. Successful questions marks can eventually become stars by achieving higher market shares. Stars are typically products in their growth phase.

To maintain their high market share in a growing industry, Doorman's requires additional investment. One approach they are taking to expand their success is through 'The Opera,' which proved to be successful for Doorman's. Additionally, they have implemented a no door charge policy to attract more customers and retain regular patrons. In response to declining sales, prices have been reduced to make purchases more affordable. Another new feature is the development of the 'Beer Garden,' which serves as a designated smoking area for smokers, reducing inconvenience for Doorman's while ensuring comfort for non-smokers.

Doorman's customers greatly appreciate this extension, which features insulated heaters, comfortable chairs and tables, and an outdoor bar that is thriving. When the market experiences a slowdown and becomes saturated, products from Doorman's that have a high market share become Cash Cows. These products require minimal investment due to the sluggish market growth rate but generate a positive cash flow. Doorman's has a

Cash Cow in its restaurant, and another mature Cash Cow is its loyal customer base. Without these individuals, running the restaurant would not be possible, thereby maintaining Doorman's position as a market leader.

Dogs are low market share products with a low growth rate. Products from other categories can also become Dogs. Despite their poor prospects, Dogs can still be profitable. For Doorman's, their seasonal menus such as Valentines day, Father's day, and Christmas represent dogs. These seasonal menus are only available for a limited time because the season ends, but they are not withdrawn completely. Doorman's most recent Dog was the launch of their Christmas menu, which offers good deals for their customers.

Anions Matrix Nations

The concept of Anions Matrix suggests that a business' ability to grow depends on how it markets new or existing products in new or existing markets. There are four tools of Anions Matrix as listed below:

• Market Penetration
• Market Development
• Product Development
• Diversification
• Market

Research involves gathering and evaluating data on consumers' preferences for products and services. Market research comprises two types: Primary and Secondary Research.

Advantages

1. Studying the needs, wants, and expectations of customers.
2. Analyzing customer reactions to company products.
3. Evaluating the effectiveness of company sales promotions and suggesting improvements.
4. Exploring current marketing problems and opportunities for follow-up actions.
5. Suggesting the introduction of new products or modifications to existing ones.
6. Examining marketing competition, distribution channels, and pricing for potential changes.
7. Identifying methods to increase product popularity, goodwill, and marketing reputation.

Disadvantages of Market Research:

1. Market research can be time consuming.

The advantage of Doorman's using market research is that it helps them identify their customers' needs and enables them to introduce innovative products or services to the market. However, a disadvantage of using market research for Doorman's is that it may not always provide reliable information about their product or service. This is something that they are currently trying to understand through market research. Conclusion Primary: Primary data refers to data collected for the first time through a method other than secondary research, with the purpose of answering specific questions.

There are various methods of primary research, including questionnaires, observation, interviews, and focus groups. These methods help gather the necessary information. For Doorman's, we chose to use questionnaires for primary research. This method provides insight into customer preferences and background information related to transportation and pricing. By conducting primary research, we obtained up-to-date information about Doorman's and its customers. It not only allows us to focus on specific issues but also grants us greater control over the data collection process. Unlike secondary research, primary research does not require any financial investment, although extensive research can be costly.

Primary research involves deciding how to conduct the research and waiting for it to develop, making it a time-consuming process. Despite this, I believe it is a valuable source of research. On the other hand, there are numerous methods for conducting secondary research, such as utilizing the internet, newspapers, magazines,

trade journals, and reports that are incredibly detailed.

Market research manager Victoria Bell from Doorman's provided us with a presentation discussing the company and its unique features. As a group, we utilized a PowerPoint presentation created by Victoria, which contained valuable information essential for our research. This approach represents the secondary research method that we employed. This method proves advantageous for companies that do not have a specific focus or sufficient time to dedicate to extensive research. While obtaining general information from newspapers or the internet is relatively easy, conducting in-depth research on a specific topic can be challenging and time-consuming, which is a drawback of secondary research.