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Papers > Technology > JB Hi Fi Internet Marketing Plan
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JB Hi Fi Internet Marketing Plan |
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JB Hi-Fi Internet Marketing Plan Subject: 3040MKT Internet/Interactive Marketing Tutor: Chris Mc Gowan Lecturer: Michael Grantham Student Names Student Numbers Huang Yu Min 2134846 Sarah Cheung 1845664 Hassina Bhamjee 1575484 Lawrence Cheung 1860885 The executive summary In the acquisition of companies seeking a new medium to reach its clients, it is essential to ensure that JB Hi-Fi achieves its objectives of improving customer services, decreasing distance to the customer, provide E-commerce, expand into the Australian market and diversify its products and services. JB Hi Fi¡¦s goal is to become a Public Company listed in Australia stock exchange. ... The purpose of JB Hi-Fi Internet Marketing Plan is to combine ¡§knowledge of the Internet, application of strategy and understanding of how marketing can be used effectively and appropriately in any given environment.¡¨ (Strategic Internet Marketing, 2001) It is evident from the SWOT Analysis that JB Hi-Fi has the strengths of a huge range of DVD and Console games, 10 years experience, a good reputation in its industry. ... Evident from current JB Hi-Fi customer interviews JB Hi-Fi offers competitive services and prices to that of its competitors. However a major disadvantage is that entry barriers into the industry are very low and JB Hi-Fi¡¦s current competitors are much larger in size and have a stronger financial position. There are many opportunities available to JB Hi-Fi. ... This is a major threat for JB Hi-Fi as this industry is common to price wars. This Internet Marketing Plan aims to analyze JB HI-FI ¡¦s environmental scan through competitor analysis, identifying the economic, legal, social, cultural and technological environments. ... Marketing strategies based upon the 4 P¡¦s of the marketing mix four P¡¦s analysed that JB HI-FI is positioned as a unique good service and quality with the ability to lock in client and offer a wide range of products. At the beginning JB HI-FI to spend more and more concentration training target client to purchase online and interactive with TV promotion. Thereafter the implementation plan specifies what strategies will be implemented and when. The financial budget is then based upon research and the implementation to plan to ensure the plan is within JB Hi-Fi¡¦s budget. The website analysis and website map display and describe the features of the implementation plan. Thereafter controls describe measures of performances for the strategies and for the implementation plan, and the recommendations outline contingency plans if the measures of performances detail can refer to our project Plan In conclusion the market plan, current strategy developed within JB Hi-Fi Internet Marketing plan based upon a 6 month construction will enable the company to achieve its goals and objectives as well as provide a new medium for its clients needs and provide JB Hi-Fi with a competitive advantage over its competitors. ... 0 MARKETING STRATEGIES 12 3. ... 0 IMPLEMENTATION PLAN 18 5. ... 9 VIRAL MARKETING 25 6. ... The purpose of JB Hi-Fi Internet Marketing Plan is to combine ¡§knowledge of the Internet, application of strategy and understanding of how marketing can be used effectively and appropriately in any given environment.¡¨ (Strategic Internet Marketing, 2001) The scope of this Internet Marketing Plan involves researching JB Hi-Fi¡¦s environment, through the analysis of its competitors, economic, legal, social and cultural, and technological environment. Marketing strategies according to the marketing mix four P¡¦s, are then developed according to JB Hi-Fi¡¦s environment, data collection, market segmentation, target market and market positioning, and that market tactics. Thereafter the implementation plan specifies what strategies will be implemented and when. The financial budget is then based upon research and the implementation to plan to ensure the plan is within JB Hi-Fi¡¦s budget. The website analysis and website map display and describe the features of the implementation plan. Thereafter controls describe measures of performances for the strategies and for the implementation plan, and the recommendations outline contingency plans if the measures of performances are not effectively and efficiently implemented. ... 1 Competitor analysis It is evident from the research conducted through searches on the Internet, that this industry has a many competitors in physical stores and online. ... They can be a big threat to JB Hi Fi because their prices are highly competitive and more importantly can easily run at a loss to beat our prices and make it up in other products/departments. ... 3 Legal Political and regulatory environments Products proposed for e-commerce tailing require distribution licenses that do not exclude the usage of the Internet as a selling medium. Furthermore JB Hi-Fi requires the permission of its suppliers to advertise and promote their company and products brand names. ... au/) Implications of computer crime and security as evident in the 2002 Australian survey (2002 Australian Computer Crime and Security Survey) revealed that the legal and political environmental implications for JB Hi-fi in choosing to go online is as follows • The volume of computer crime and security incidents in Australia is growing rapidly. ... How money was lost Average Loss Total Annual Loss Theft/breach of proprietary or confidential information 72 500 290 00 The above (Taken from the 2002 Australian Survey) not only affect JB Hi-fi but also the customers of JB Hi-fi as evident in this survey there are serious trust issues arising in organizations distributing personal information to other sources. ... 6 Market Research In our primary marketing research, we have done the price list comparison for TV games, DVD and DVD Machine from different providers. JB HI-FI at the moment cannot compete TV games market with other competitors because it still have not sold this category yet. But as the figure showed, in DVD market that JB Hi-Fi¡¦s prices are mostly competitive. For example Star War AsII are selling $28 in JB HI-FI and our competitors are selling around $29. ... There could be some items that JB Hi-Fi is retailing are not cheaper than our competitors, which is why strategies need to focus on value added services rather than price. ... 7 SWOT Analysis Strength: ƒæ Huge range of DVD and Console games ƒæ 10 yrs experience and goodwill ƒæ Reputable company ƒæ Physical Store in 4 States Australia Wide ƒæ Infrastructure, Financial Stability, Solid relations with suppliers ƒæ Competitive services and prices compared to competitors ƒæ Secured target market and customers Weakness ƒæ Our competitors are bigger in size and financial ability than us (K Mart, Big W) ƒæ Competitors have established e-commerce and JB HI-FI has still yet to do so ƒæ Finances do not allow bulk stocking ƒæ Competitors have secured logistics and probably B2B IS Opportunity ƒæ Australian spent a lot on recreation ƒæ Australia has a large market ƒæ DVD market is still growing rapidly ƒæ E-business is a new delivery medium ƒæ Lock in client through promotional offers through existing channel Threat ƒæ A huge amount of new competitors are coming to market by providing attractive offer Such as toy ¡§R¡¨ us (www. ... 0 Marketing Strategies 3. ... The reason of choosing Geographic approach is that JB-Hi Fi is an Australia base company, it mainly sells out products with in Australia rather than compete with overseas. In addition JB-Hi Fi is going to sell on-line, therefore one of Demographic segmentation dimensions- Education is another critical factor to segment the market because ability of access Internet and research skill is required for our target market. ... Theses customers are trendy and highly aware of new technology innovation aged around 10 ¡V35 in Australia with ability to access Internet. ... They value playing game as an important entertainment in their life and willing to spend a lot of time on games aged between 10-35 in Australia with ability access Internet. ... We have decided to undertake a differentiated marketing strategy, which means targeting several market segments. ... Positioning JB HI-FI is positioned as a unique good service quality and highly diversity of products (Refer to Appendix 6), providing rapid delivery service and problem solving and even complain responses since our web sit is going to have a term of telephone operator. ... 2 Developing market tactics This section is going to demonstrate marketing strategy for JB HI-FI on-line market. Market strategy consists of specific strategies for target markets and marketing mix in terms of product, promotion, place and price. Product Product variety In JB HI-FIs¡¦ physical outlet, it sells huge range of Hifi, TVs, Home Theater, Portable Hifi, Speakers, VCRs, Car Sound, Video & Digital Cameras, CD¡¦s, CDR¡¦s and DVD music & Movies. However PS2, Game Cube, X box in the field of TV games is an main selling category that JB HI-FI did not sell. Instead of putting all those categories list above sell on line, JB HI-FI is going to sell DVD and TV games only at the first place. The reason behind that is in the history of JB HI-FI, they did not have any experience sell on line but web representative. ... Moreover, starting from two popular items allows JB HI-FI to spend more and more concentration on promotion - cost efficient. This strategy could construct a stepping store for our next plan, which sells our entire products on-line because during that time awareness has already built and users have already been trained to purchase on-line. ... That is, all DVD and TV games sell in physical shop will be sell in Internet. ... However in our marketing campaign we will just implement the later one ¡V meet the competition. ... However, as the evident that we found in the marketing research (refer to appendix 2), both our direct competitors and indirect competitors are offering the competitive price on DVD and TV games markets. ... Promotion The promotion campaign that will be used to lunch JB HI-FI is divided into two segments. |
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