Biscuit Industry in Australia (Essay Sample)
This paper you must use two articles in which i provide you and also you should use the textbook to write.
THE ASSIGNMENT :
1. Use online resources such as websites, journal articles, newspaper articles and databases.
2. Present a brief report that will include the following information:
a. Perform a macro-environmental analysis of the industry.
b. Identify and describe the segments (and segmenting variables) used in this industry.
c. Make a recommendation as to the segment of the market you think the company should look to invest in, and provide justifications for your choice.
Title of the assignment, name, id, tutorial time and day, name of the tutor, word count not including executive summary, TOC or references and appendices.
Summarize all sections of the report in a succinct manner, and include recommendations (One paragraph max.)
Table of Contents:
put contents with page numbers
Purpose or report, product chosen , marketing theories used, structure of the report etc.
Macro environmental analysis:
Impact of key variables: identify and explain the impact of key variables in each of the environmental factors.
Market segmentation and targeting:
Analyse how firms or the industry conducts segmentation. Segment profiles (characteristics of the segment) and product offered to each segment Based on your analysis, recommend one/more than one segment(s).
Biscuit Industry in Australia
The biscuit industry in Australia has been on the decline for the past five years. The influx of imports has adversely affected the domestic market. Moreover, consumers have increasingly become aware of the need to consume healthier foods. The macro environmental analysis demonstrates the challenges the industry has been facing. In order to reach a wide customer base, the manufacturers have segmented the market by creating products that target certain consumers. Additionally, the Australian market is highly concentrated with the top three companies accounting for more than 80% of the market. In order to improve the industry, the report makes the following two recommendations. Firstly, companies should target the young generation with healthier foods. Secondly, the manufacturers need to come up with new products to counter the competition from imports. The domestic companies need to ensure that their biscuits are healthier to reach to consumers that are health-conscious.
Biscuit Industry in Australia
The chosen product for this report is the biscuit industry in Australia. The industry is expected to generate a revenue of $780 million at the end of 2018 (IBISWorld, 2018). Despite the essence of this industry in the country, it has faced challenging conditions in the past five years. The report analyzes the macro environmental factors affecting the biscuit industry in Australia. Next, the report analyzes the segmentation and targeting of the industry. The report then makes recommendations on the segment of the market the industry should focus on to remain in the market.
Political trends affect the biscuit industry in Australia. Australia has experienced changing regulation regarding food standards as well as marketing actions. Public health policies are demanding for healthier foods with low content of sodium and sugar (Lindberg, Nichols and Yam, 2017). The current policies push for the public to become conscious when purchasing foods.
The Australian biscuit industry must remain aware of the changing inflation, economic growth and income levels of the target consumers. Australia has experienced changing consumer budgets as a result of consumers becoming more conscious of costs. The biscuit companies have been forced to keep on lowering their prices in an attempt to reach more consumers. Decrease prices to avoid being phased out in the market has reduced the profitability of the industry. The manufacturers have to reduce their products to survive in the market.
Moreover, there has been a rise in the cost of raw materials especially sugar and wheat. The increasing cost of raw materials has increased the cost of production. With the companies unable to pass more costs to the consumers, the biscuit companies have been forced to have relatively lower margins. The companies also need to source raw materials from sustainable suppliers. Having a sustainable source of raw materials guarantees the companies of access to lower cost materials since fluctuations in supply increase the cost of the raw materials.
The consumption of biscuits in Australia shifts based on the tastes and preferences of the consumers. There has been a focus on the healthiness of foods in the country. The move is not only pushed by the authorities, but also by the consumers as well (Newman, Howlett and Burton, 2014). There has been a rise in the consumption of organic foods due to the changing attitudes of the consumers towards the intake of healthier products in line with the initiatives from the g...
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