SWOT analysis report

Essay by sweet_pondsUniversity, Bachelor'sA, November 2002

download word file, 11 pages 3.7

MARKETING PRINCIPLES: TRADING AND EXCHANGE

MAJOR ASSIGNMENT 3

Word Count: 2009

ABSTRACT/EXECUTIVE SUMMARY:

Groove Daddy Records (GDR) is a small Australian dance label that value innovation and creativity and is aspiring to become leaders in the dance music market. At this point in time, GDR must outline a marketing strategy (within its budgets) in order to achieve its marketing objectives for the coming financial year.

Cheyne has outlined the marketing objectives for the coming financial year. They are to achieve $22 million in sales revenue, a unit sales volume of 1,666,489, a market share of 5%, increasing awareness or pop/dance music, Nicci (by 30%) and Frankl'n (by 15%), introducing Internet distribution, and retaining a wholesale price of $13.26 from last year.

This report will explore methods that could possibly be used in order to maintain and reach these goals. The main approaches that have been outlined in the report are for GDR to ensure that its product meet the 5 product requirements such as labeling and support services which will retain consumer satisfaction in the short and long run (which ultimately gives rise to larger profits and market share).

Furthermore, various public relations (PR) campaigns and direct marketing schemes can be used to boost awareness of GDR, Nicci and Frankl'n as well as assisting in the introduction of Internet distribution. All money spent in trying to achieve these objectives has been budgeted and accurately meets the $200,000 allocated.

TABLE OF CONTENTS:

1.Introduction..................................................................................................1

2.GDR's positioning statement.............................................................................1

3 (a)Target market.......................................................................................1

3 (b)Product positioning................................................................................2

3 (c)Product decisions..................................................................................3

3 (d)Pricing approach...................................................................................4

3 (e)Promotions..........................................................................................5

3 (f)Placement (distribution)..........................................................................5

3 (g)R&D and market research.......................................................................6

4.Budgeting.....................................................................................................6

5.Conclusion....................................................................................................7

6.Recommendations...........................................................................................7

7.References.....................................................................................................8

1.INTRODUCTION:

The marketing objectives for the next financial year that have been outlined by Cheyne will all be...