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HSC Business Studies - Marketing - Assessment Task 2: Research/In-class Business Report

The document summarizes a marketing report for Wrigley Eclipse Gum. It analyzes how effective Wrigley's was in using the five elements of marketing: situational analysis, market research, market objectives, target markets, and marketing strategies. While Wrigley's identified their target market of 18-34 year olds and conducted market research through interviews, their situational analysis and marketing strategies focused only on products and promotions. The report recommends that Wrigley's conduct a SWOT analysis and expand their targeting, objectives, and use of social media.

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Ella Macgregor
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270 views

HSC Business Studies - Marketing - Assessment Task 2: Research/In-class Business Report

The document summarizes a marketing report for Wrigley Eclipse Gum. It analyzes how effective Wrigley's was in using the five elements of marketing: situational analysis, market research, market objectives, target markets, and marketing strategies. While Wrigley's identified their target market of 18-34 year olds and conducted market research through interviews, their situational analysis and marketing strategies focused only on products and promotions. The report recommends that Wrigley's conduct a SWOT analysis and expand their targeting, objectives, and use of social media.

Uploaded by

Ella Macgregor
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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HSC Business Studies – Marketing – Assessment Task 2: Research/In-class Business Report

1. Executive summary

The action of developing a marketing plan is a necessity in which a business should


have as their prime focus in their marketing processes. In constructing the plan, the
firm gains a chance in assessing their place within the business environment, and
where they can apply change to constantly improve the business. With reviewing the
Wrigley Eclipse Gum marketing plan, this report will analyse how effective Wrigley’s
have been in using the five elements of a market process, recognition of the
company’s strengths and weaknesses as well as constructive recommendations.

2. Five elements of a marketing process within a business

2.1. Situational analysis


A situational analysis allows a firm to examine their current position within the
market. A business life cycle shows what stage, either establishment, growth,
maturity or post maturity the business is at in terms of sales and product awareness
whilst indicating possible future for firm. The SWOT analysis indicates the strengths
and weaknesses existing within the firm and the opportunities and threats lying
externally in the industry. Wrigley’s have failed to provide a SWOT analysis and only
a description, not even explicitly saying they are in the growth stage, therefore
contributing to a low standard situational analysis.

2.2. Market research


Market research involves obtaining valuable information such as determining the
nature of the market environment, an appropriate target market and changing
tastes and preferences. Primary research is new data collected. Secondary research
is reviewing research already conducted by the firm or from outside. Eclipse used
only primary research in finding out how to entice their desired target market. They
were quite effective in gathering and addressing research in their plan as they
conducted 20 interviews with consumers to ‘’get inside their heads’’. Responses
allowed eclipse to determine the best location and events to promote their product.

2.3. Market objectives


These are achievements the business wish to attain. This framework helps gives a
sense to direction for the owners, managers and workers.
Wrigley’s have been able to properly state their objectives in the plan which are to
‘increase sales and build awareness and equity in the brand’. They show despite
being active for 5 years and introducing new flavors, they have had no growth
causing the need strong marketing. Wrigley’s is determined with establishing goals
such as, ‘build talk value’, ‘reinstating consumers need for product, ‘create publicity’.
The objectives however only highlight that they are specific, realistic and achievable
with absence of time frame and measurement making the goals not fully SMART.

By Anaitra Ramaswamy
HSC Business Studies – Marketing – Assessment Task 2: Research/In-class Business Report

2.4. Identifying target markets


A target market is a group of consumers for whom a particular product has been
developed. Public relations are able to shape marketing to the likes of consumers
belonging to that group. Wrigley’s have properly identified their target market as
people aged 18-34, showing a demographic segmentation as this age group uses
gum most often. They however want to connect with ‘outgoing, fun, independent,
flirtatious and adventurous’ individuals. They have identified their target market to a
great extent.

2.5. Developing marketing strategies


Once objectives are set for the business, they must then develop appropriate
marketing strategies to fulfill goals and firm success. The marketing mix assists in this
and comprises of four elements: product, price, promotion and place. Wrigley’s have
only been able to focus on the product and promotion aspects in their plan,
devaluing the plan because they haven’t thought of all four elements. They have
emphasized the purpose of their gum to use the strategy of branding the product as
something you need if you’re in a ‘intimate or close situation and need fresh breath’.
However, with promotion many methods such as painting body in blue for mardi
gras to convey a cheeky personality and sponsoring of concerts are addressed but to
a limited extent.

3. Recommendations
With viewing the marketing plan, it is understood that Wrigley’s could definitely
benefit from the following points:
-A SWOT analysis is highly necessary of their marketing plan if they want to adapt to
the changing nature of influences such as competitors and consumer tastes. It can
also make a better chance of long term market share and success for stakeholders
-Possible consideration of targeting new market segments to bring product
awareness to more of the population and possibly increase market share, e.g.
developing gum flavours that are more child friendly can significantly impact sales as
Wrigley’s can come up with a kids marketing campaign but at the same time
maintain ‘out there, acquired’ advertising to current market so the firm is open to
more customers
-With the growing popularity of social media, Majority of the community use it as its
becoming a more fundamental part of our lives. Why not take advantage of this?
Further advertising through creating a Facebook AND Twitter page can increase
market awareness and allow interaction with consumers to further understand
needs and wants as well as make consumers perceive eclipse as ‘tech savvy and
trendy’. A social image is created as e-marketing with social media can provide
opportunity for ‘word of mouth’ promotion.

By Anaitra Ramaswamy
HSC Business Studies – Marketing – Assessment Task 2: Research/In-class Business Report

Strength: Having specific ideas of ‘outdoor advertising’ and ‘ambient media’ shows
organisation and that they are dedicated to the business and are determined to grow.
Weakness: Although it is good to have specific characteristics to design marketing, not
everyone aged 18-34 will have an ‘outgoing’ personality. This could create the image that
eclipse gum is ‘too good for people’ who just don’t like socialising which can be a bit ‘off-
putting’ for the mass market.
Strength: Another quality is that they have given reason to why they chose the objectives in
honestly stating their struggle to get sales for 5 years. Showing an ethical marketing plan.
Strength: Wrigley’s have proven very good at not only identifying their target market but
shaping advertising and promotion to their target market, such as sampling gum in
nightclubs and having employees dressed up distinctively whilst sampling around the city
Weaknesses: The most beneficial ways of implementing action for/against influences can be
identified when conducting a swot analysis and Wrigley’s haven’t done this

By Anaitra Ramaswamy
HSC Business Studies – Marketing – Assessment Task 2: Research/In-class Business Report

5 LINES

ES:marketplanallowsassessplaceinenvironment&applychangeMR:appropriatetargetmarketnat
ureofenviro20interviews’getinsideheads’bestlocationpromoteproductsMO:senseofdirection’in
creasesalesbuildawarenessequityinbrand’talkvaluerelevanceinlivespublicityTM:demograMS:’
intimateclosesituationneedfreshbreath’samples,sponserSW:outdooradvertdedicationorganisati
on,gumtoogoodforunsocialpeeps,honestlystrugglesethics,shapingadvert/nightclub/dressedup

By Anaitra Ramaswamy

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