CRITIQUE MARKETING PLAN
Introduction • Jacob's Creek is considered as one of the famous Australia's largest wine brands. • Company basically provides three products i.e. Barossa Shiraz, Barossa Cabemet Sauvignon and Barossa Shiraz Cabernet. • Vision of firm is to maintain the same position as market leader in Australia wine and spirit industry. • While, the mission of Jacob's Creek is to deliver both profitable and sustainable growth in regard to enhance the market share across all categories.
• Corporate objectives of firm is to become market leader and attain growth sales of 4-5% and also improve its operating margin over medium term.
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Critique SWOT • It can be assessed from the Jacob's Creek possess strong brand image and history in market and thus it is easily recognised by consumers within Australia. • Thus, it can be analysed that business possess strong brand name which results in attaining high market share and sales. • Business also obtain positive strength in terms of obtaining award-winning wine making capability with effective research and development.
Contd... • While, it can be reviewed that firm possess certain weaknesses i.e. weak financial position and also consumers found it old fashioned. • Also, the product selected by firm is of low quality. Thus, all these are considered as their major weaknesses and thus limits the development of product premium range.
Contd... • It can be identified that Jacob's Creek possess varied opportunities such as decrease in competition and tax change. • Also, more number of customers are influenced to consumer the wine made by firm due to its high quality. • However, it has been identified that firm is also focusing upon using eco-friendly products and processing the wine preparation through innovative way.
Contd... • Further, Jacob's Creek also faces threats related to people who are increasing their concern regarding not consuming alcohol as it harms their body. • It has been reviewed that business is facing issues related to breach of trademark and authenticity. • However, it can be evaluated that all such threats creates issues for firm in relation to affect the business functions.
Critique Objectives and Strategies • The marketing objectives and strategies prepared by Jacob's Creek enhances the overall sales volume and value of wine by 20% till 2018. • Thus, it is a positive sign for firm and thus it helps them to improve firm's performance in market. • It can be evaluated that cited business prepares effective objectives and strategies in regard to enhance the sales growth and improve margins.
Contd... • Also, it can be reviewed that company aims to maintain its brand reputation and for that they need to carry out effective research and development so that they can improve their sales and targets. • Company also needs to maintain its consistency in various form such as logo, taste and name as all these are assets and thus improve the brand image so that desired objectives could be attained.
Critique Tactics • It can be evaluated that Jacob's Creek undertakes varied marketing tactics such as launching its business or promoting it through sponsorship. • Thus, through promoting the business in Australian Open Tennis is considered as one of the best way to promote the brand. • It is the best way through which large number of potential clients could be attracted towards firm.
Contd... • Thus, promoting the brand through carrying out the strategy of providing complementary drink at the restaurant in order to obtain their response over the taste would result in engaging target customers with firm. • Another major benefit firm could obtain from sponsoring the Tour Down Under Cycling event and thus it helps in influencing attention of various customers and thus they aim to consume the brand.
Contd.... • Thus, all such promotional campaign aids business to improve its marketing strategy and thus sponsor famous events and games in order to become popular. • Promotion through social media is also useful for Jacob and thus it provides effective results which enhances brand reputation of firm in market.
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Best and Worst Parts of Plan • It can be evaluated that the whole marketing plan is prepared very well as it identifies the current SWOT perspective, marketing strategies, tactics and thus promote the product among target consumers. • Thus, sponsoring various events is considered as the best part of marketing plan and thus it helps in evaluating the firm's position in market. • While, the worst part of the plan is that it do not identify its competitors and their strategies which is essential for firm to implement effective strategies and become number one brand.
References • Eagle, L. and et. al., 2014. Marketing communications. Routledge. • Foxall, G., 2014. Strategic Marketing Management (RLE Marketing) (Vol. 3). Routledge. • Percy, L., 2014. Strategic integrated marketing communications. Routledge.