Affected by the escalating impact of globalization, and the additional rising levels of intangibility, there is more need than ever for businesses to consider innovative responses to marketing opportunities. Moreover, the advent of Internet has constructed a new business structure as many marketers have started to find ways to penetrate into new market to gain a competitive advantage by putting enormous effort to come out with the most approachable marketing strategy of their own.
Offensive marketing has to be one of the most effective and successful one, it focuses on building long-term, sustainable shareholder value. The five elements of the offensive marketing approach are POISE, as summarized by mnemonic of profitable, offensive, integrated, strategic and effectively executed. It brings together advances in strategy, innovation, and approach to produce a new level of effectiveness and market results.
The hardware industry in Australia has also adopted this business format and marketing approach.
Bunnings Warehouse, which dominated the largest hardware market share in Australia, has been proven a successful one using the particular marketing approach. NFK Glazing & Industrial Supplies Pty Ltd on the other hand represents a traditional marketing approach.
1. Introduction 3-4
2. Brief summary of Australian hardware industry 5-6
3. Organizational backgrounds 7
3.1 Bunnings Warehouse 7-8
3.2 NFK Glazing & Industrial Supplies Pty Ltd 9
4. Comparative analysis of marketing approach 10-23
4.1 Profitability 10-12
4.2 Offensive 13-16
4.3 Integrated 17-19
4.4 Strategic 20-22
4.5 Effectively executed 23
5. Recommendations 24-25
6. Conclusion 26
7. Reference 27-28
As different industry often has distinctive marketing approaches and strategy to tackle the market, it is therefore decided that businesses under same category should be researched and discussed of the centrality of entrepreneurial marketing activity to the firm's strategic approach and its profitability.
Bjerke and Hultman...