Marketing Plan for Koala Mattress Company
The methods used in this marketing plan are outlined in the company’s current situation, opportunity and issue analysis, the definition of value proposition, marketing mix strategy, action programs, projected profit and loss and finally controls. The findings in this method are that the 4Ps strategies are used in marketing mix strategy and the objectives of Koala is to satisfy the need of the marketplace, securing an advantage over the competition and creating profits. The challenges remedied in this market plan are the issues of limited supply due to inappropriate networking that was solved by creating API and Gumleaf and the stiff competition remedied by competitive advantage of faster delivery. CURRENT MARKET SITUATION In the description of the Koala Mattress Company on its market situation, the following aspects have to be analyzed.
The aspect is inclusive of the description of the company’s market performance that requires foreseeing on how the market strategies used to contribute to the market share and the rate of market growth. With the aid of Gumleaf application, the objectives of the company were met by launching a 4-hour delivery across Australian cities. OPPORTUNITY AND ISSUE ANALYSIS Koala Mattress Company is an online mattress company that inspires market growth through its digital marketing. Therefore, their opportunity is enmeshed in the digital platform. The issue analysis of this company involves how it was exploited to gain an economic goal. Majorly, the digital platform opportunity presented a chance for the company to be created as a technology company that enhances the mattress products which made it a technological business at its core.
Since Koala Mattress Company is an online company, its value proposition needs to be high by being conversely optimized in the web browsers. Koala Mattress Company has achieved in ascending their value of proposition by investing intensively in their technology and on their customers’ journey across all touch points through collecting and analyzing market data at a real-time for budgeting shifting and optimization. They create content that works effectively in their social media and then promote it which improves their Search Engine Optimization (SEO). From this, they are capable of getting their messages to the public in a more creative and interesting way. Also, a lot of content is published on the company’s Facebook. The Koala Mattress Company unleashes a unique mattress brand to its consumers which is of a high-quality product that aims in attaining the comfy preference of the consumers.
As such, it offers a high-quality product satiate customers’ taste thus encouraging them to promote the company’s name by the word of mouth (Tehrani, 2009). This will attract more customers and in the event more profits are realized. b) Pricing strategy. The products of Koala cost less as compared to other products offered by other companies. It has three concepts of analysis. a) Satisfying the needs of the marketplace. Koala achieves this by offering mattresses that are adequately engineered by use of world first innovation in technology and proficient products of modern polyurethane foam that is universally comfortable for all users. It guarantees an amazing sleep for customers which satiate the need of the marketplace. b) Secure an advantage over the competition (Viardot, 2004).
CONTROLS Controls signify a processing of monitoring the plans as they are implemented and adjusted whenever necessary. To undertake this, the company needs to implement performance standards, monthly and quarterly checklist, measuring responses and compare results to standard. Koala Mattress Company conducts control over its marketing strategies by designating the standards by measuring their effectiveness. The 4-hour dispatch strategy is effective since it culminated in a six-figure digit revenue in the first two weeks of application. Also, the company’s marketing efforts are generating constant revenue at an acceptable pace. Gregson, A. Pricing strategies for small businesses (print book: English ed. Self-counsel Press. Powell, D. Why the founders of matress retailer Sleeping Duck turned down a $500,000 offer on Shark Tank. Yolanda, R.
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