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Developing market strategies for small florist

The following article is based on develop and put into practice market strategies on the tiny business of Floral Touch Australia. The report will outline the essential elements of Floral Touch's market Strategies and its marketing combine, and also monitor and improve its marketing performance. Advice will be produced on how to boost on each marketing aspect of the organisation.

Floral Touch Australia was set up in 2008 by Rola Seaib, it is a tiny retail florist that is located in Guilford, NSW. They specialise in Weddings, Engagements, Christenings, Birthdays and Special Occasions. They also send flowers internationally and deliver plants locally. They offer same day delivery to determined areas, but typical delivers within 24 hours of order.

The business is still relatively new which is gradually growing and growing. This is regarded as a good opportunity to review Floral Touch's current market strategies and how to improve and develop new strategies.

Mission

Their quest is to deliver high quality products and services guaranteed to please their customers at competitive prices, and being actively involved with the city.

Vision

Floral Touch Australia vision is to become a recognised florist in the region, renowned for its high customer support and affordability.

Methodology

Various methods were used to carry out the review of Floral Touch Australia's overall Market Strategy. One of the methods used was booking a meeting with who owns the business, and discussed firsthand what methods where used to advertise the business and who these were targeting and the segments they had covered in their floral business. Also we discussed issues such as future development of the business and how that could be established.

The other methods which were used to gather research, was using online language resources and searching for information on the floral industry in Australia to get a better knowledge of the retail flower sector and how it works in Australia. Web sites were very insightful but where lacking relevant information that was needed.

Also the Australian Bureau of Information was used to assemble information on sales and market development of all the major retail industries compared to the floral industry. This provided factual figures and information that was very relevant in identifying how Floral Touch Australia fits in to the rose industry and market.

Results and Findings

Develop Strategies Phase

SWOT Analysis

Strengths

Weaknesses

The customers are able to select and personalize the merchandise by choosing to add option like size, colour or type of flowers and just how that they want it shown in a basket, bouquet or vase.

Customers can view products online with a directory and call to make an order

Located on a busy street

High publicity with road frontage

Competitive Pricing

The only florist in the area

Floral Touch continues to be a fresh business.

Time to gain experience and build reputation.

Customers perceiving that blossoms are only limited to special occasions

Pricing continues to be relatively greater than other florists

No recognized business website has been established, customers struggling to order online.

Opportunities

Threats

To establish a strong customer basic in the region.

The customisation of customer purchases resulting in more sales

To extend advertising to other medias

Sponsoring neighborhood groups

To increase the brand into other areas such as chocolates and sweets

To close the distance in the market

Competitors on the market such as Alia Florist & Gifts, and famous brands such as Rose Only.

Customers preferring the high end brands

Customers not spend their money on presents anticipated to economy

Another retail florist shop opening in the area

Home based florist business

Market Segmentation

Floral Touch Australia has discovered that its target market will be individuals or organizations that contain the necessity or desire for fresh blooms. The marketplace can be categorised into four main market sections for Floral Touch. These are

Funerals,

Weddings,

Birthdays,

Special Occasions.

The desk below represents each of the segments and why a customer chooses the service from Floral Touch Australia.

Funerals

Birthdays

Weddings

Special Occasions

Timely Delivery

Customised

Customised

Ease of Ordering

Ease of Ordering

Planning Process

Researched

Quality of Product

Cost

Recurring

Long-Planning Process

Timeliness of Delivery

Product Quality

Cost

Non-Recurring

Cost

Respectable Service

Product Quality

Recurring

Customised

Cost

 

Demand for Flowers

The retail value of trim plants in Australia will generate around $1. 7 billion dollars in 2009-10, and the floral retailers generating strong revenue of $837. 1 million dollars.

There is actually a frequent demand for fresh plants as they are likely involved in people's lives. They are used special event and sadness to stand for a person's devotion or simply a general "many thanks". The demands for fresh bouquets are now regarded as a fashion tendency and are being used as centrepieces in homes. There's always a higher demand during traditional get-togethers such as Valentine's Day, Mother's Day, Christmas and Chinese New Year.

Customer Profiling

The customers that regularly use florists are categorised into two main target market profiles which are;

Business Customers Profile

Male

Works in CBD

25-60 years of age

Married, involved or in a long-term relationship

High income earner

Quality Importance

Occupation: banker, agent, legal professional or accountant

preference for luxury items (automobiles, clothes, pieces, homes, trips)

Homeowner/ multiple home owner

These can also include organisations such as Telstra and Australia Taxi Cabs, creating a agreement with floral touch on delivering them with fresh blooms daily.

Consumer Customer Profile

Male/Female

25-60 years of age

Works locally

Married, employed or in a relationship

Family/with children

Average Income Earner

Customer services important

Prefers an acceptable or expected pricing

Occupation: salesmen, retail store person, banker, and customer support rep.

Competition

Floral Touch Australia doesn't have any direct competitors in their location, because they are the one retail florist shop in the Guilford area. With close examination of the region there is one a florist that works from home which is near Floral Touch's location called Red Ice. This can be seen as a threat as they may offer cheaper prices because they don't really have to pay for rent and lease expenses such as a shop does. Gleam probable of another florist shop opening in the region as there is a shortage, which in the current time can be an benefits for Floral Touch. Addititionally there is a rise of competition from other bordering merchants such as supermarkets, online stores and Service Stations.

The competition that Floral Touch Australia faces is online challengers. These online florists exceed using their service where customers can to buy floral agreements on the internet. These services are offered by Rose Only, FlowersForEveryone. com, InterFlora and many others. In addition they offer next day delivery, but shortage as it pertains to customers choosing and customising there requests. Often what is seen online might not match the picture or expectation that the client wanted.

Competitive Advantages

The competitive advantages that Floral Touch Australia has are as implemented;

Wider product range than competitors

Competitive costs - matching or providing cheap than competitors

Quick delivery of the products to the customer

Better quality customer service

In an improved location, easy to access

Giving customers what they need, with product customisation

Marketing Objectives

The Marketing aims that Floral Touch would like to achieve to ensure that it's a market innovator is to;

Increase its sales over twelve months by 20%

To create a stronger brand romantic relationship with this customers

To extend the brand into the areas such as chocolates, and sweets

To open more shops in encircling areas by 2012

To have well established brand image

To achieve the goals Floral Touch will need to adapt its marketing combine to ensure it can increase its market show and it overall sales. Building interactions with regular customers such as business customers is important to ensure a continuous flow of profits.

Marketing Strategies

The business that Floral Touch Australia would like to determine is having a customer value approach presenting the clients a good quality services and heading beyond their expectation to satisfy the needs.

Products

Fresh rose arrangements

Bouquets

Gift Baskets & Hampers

Sweets

Wreaths

Vases

Plants

Available in 3 different sizes Small, Medium, Large

customers able to design and customise with their specifications

Price

Prices offered at competitive prices

Prices exhibited on screen products

Package Deals

Prices may differ dependant on what the client demands when customising an order

Small Preparations prices between $14. 99 - $40. 00

Medium Preparations prices between $39. 99 - $60. 00

Large Agreements prices between $65. 00 - $200

Place

One retail store operating in a active street

High contact with potential customers

Easy to gain access to, and leading of shop parking

Promotion

Shop front side floral displays

Outdoor signage

Local radio train station advertising

Flyers and business cards distributed in the area through letter container drop offs

Sponsoring events

Local publicity

In store product displays

Social networks

The delivery van

Marketing Mix

The marketing mixture of Floral Touch Australia will give attention to targeting the marriage and Special Events segment, and also concentrating on creating ties with organisations to provide them with a ongoing service.

Sales Forecast

Product Mix

The product mix shows that both main items that are in demand are bouquets and surprise basket & hampers. This shows the tendency that customers are buying items which are ready for gifting to someone, it's seen as far more convenient for the customer.

Distribution Channels

Currently Floral Touch has one main distribution route which is its retail shop. It wants to establish other ways to reach its customers. They may have considered establishing a online service where customers are able to view their products, select and order what they want and obtain it delivered.

The cost of setting up an online site can cost around $400 and can need ongoing support to maintain and update the service, or it could be made free by doing it yourself. This might bring another gain to the business, as the rivals are trading online it puts Floral Touch on a level playing field to market its product outside of its current demographic.

Customer Service Level

Floral Touch try to give customers a higher degree of service, and taking customer service to another level by getting to know certain information on a person to make sure they are feel more valued, for example keeping in mind a customer's birthday or wedding anniversary, gives the impression that you have taken time to listen to the customer. Also offering regular custom store special discounts or free delivery on the acquisitions, this is to ensure they are rewarded for the loyalty to the brand.

Customer Service Standards

As defined above Floral Touch's priority is to provide the best quality of customer service, staff are encouraged to make the client feel welcomed and respected by assembly and greeting them when they enter into the shop. They are really to liaise with the client and immediate them to the merchandise that they desire. Staffs are advised to notify customers on special promotions and discounts that might be on offer.

Promotional Activities

The promotional activities that Floral Touch has performed are having interior floral exhibits for customers in store to provide them visual selections. There is also the utilization of outdoor signage and windowpane exhibits to be visual enticing to people walking past the shop entrance. Floral Touch has extended its advertising to local radio place and magazines to get a better coverage on its target customers. They also have distributed flyers and catalogues which are put in people's letter boxes. They have lately sponsored a singing from overseas who was touring Australia.

Implement Strategies

Human Learning resource Requirements

The overall marketing work will not need to hire additional personnel as marketing has been out sourced to marketing and publications. The inner marketing of Floral Touch will be managed by personnel that are experienced and been trained in the area of floristry. The will be asked to constantly revise the store shows over a 2-3 day basis as blooms are perishable and require a cool room.

They are to also display business credit cards, flyers and brochures at leading of table and are to encourage customers to consider one. The staffs that are employed must be efficient at flower plans and will need to have a strong customer record to ensure that customers are dealt with correctly and given a good experience.

Action Plan

Name

Action

Responsible

Date

Deadline

Serving Customer

Consulting with the client on floral arrangements

Staff

15/11/10

Immediately

Taking

The

Order

Documenting the customer's needs and when they want it.

Staff

15/11/10

Within 15mins of serving

Arrange Flowers

Organising the order and making the floral arrangement

Staff

15/11/10

Have it completed in a hour

Getting Customer Orders Delivered

Ensuring that orders are processed and ready to be delivered

Staff

15/11/10

Delivered on the same day

Promotional Activities Yearly Costs

Activity

Cost

Time Frame

Radio

$1400

6 months

Flyers

$900

12 months (quarterly)

Newspaper

$600

8 months

Sponsor Events

$2200

3 months

Online Directories

$700

12 months

Monitor and Improve

Monitor Marketing Performance

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