Improving Marketing Strategies For Joe’s Roofing And Repair Company
Background and Problem Statement
Joe’s Roofing and Repair Company is a well-established family owned organization in Sydney dealing in providing roofing solutions to the population of Sydney, Australia (Joe’s Roofing, 2018). The company has been able to complete its objectives up to the benchmark and maintain high standards in its approach towards residential and commercial roofing and repairing process (Joe’s Roofing, 2018). However, rising completion in the Australian market has made it difficult for small and large companies to survive. In addition to this, advancement in technology and globalization has also compelled diverse firms in Australia to improve its business strategies, particularly when it comes to attract the customers. Though the business has been able to attain its objectives during its past years, however, it faces a number of business threats and challenges, particularly from leading businesses, similar roofing contractors, pricing difficulties, advertising war, as well as other obstacles preventing the business to develop and make excellent results.
It has been found that the marketing strategies of Joe’s Roofing and Repair seem to bare inappropriate to direct the organization resource towards the greatest prospects, such as increasing sales and revenues, attaining sustainable competitive advantages over the competitor. This research aims to take into consideration the marketing strategies of the company and help the management improve the same so as to boost sales and revenue of the firm.
Marketing sand advertisement strategies have been considered to be one of the most debated topics during the recent past all over the world. Globalization and rise in intense competition from existing as well as new market entrants have compelled many organizations to take an initiative towards implementing new technologies and strategies towards improving their business, particularly marketing strategies. According to the point of view of the scholars Robaina and Babor (2017), inappropriate or inadequate marketing strategies of small firms makes it difficult for the management to attain its objectives and makes it tougher for the business to improve its sales and revenues as well. In addition to this, Chari, Balabanis, Robson and Slater (2017) in support of the above view have argued that there are shreds of evidences of many organizations all over the world, which have failed in attain its business objectives due to lack of proper marketing strategies. For instance, even large companies such as Volkswagen Group failed when launched a brand-new car model named Phaeton due to poor marketing. (Capital and Growth, 2016). Arnold, Chadraba and Springer (2018) in their work have emphasized that marketing and advertisement strategies are the ones which must be taken into account before making business objectives for the reason that, strategizing the appropriate steps towards business will help in growth and development as well.
The primary reason for failure of many business is market intelligence. The less the company is aware of the needs and desires of its customers, the greater are the chances of its failure. Bamidele, D Adenusi and Osunsanmi (2018) in support of the fact has argued that no organization in the world have been able to gain loads of customer base without conducting market survey of the target customers, their needs, demands, supply pattern, competition, trends followed in marketing strategies and appropriate channels of market. This means that a company must focus on its commercial promotion while organizing the structure of the business or the organizational objectives. Therefore, it is necessary for Joe’s Roofing and Repair company to focus on d an appropriate marketing plan to improve its sales and revenue position in the prevailing as well as in the future market. According to the point of view of the scholars De Pelsmacker, van Tilburg and Holthof (2018), one of the most crucial factors that determined business success is strategic marketing. SMART approach has been considered to be one of the most significant approach towards implementing strategic marketing objectives, which is not only specific to any particular standards, but also measurable, accountable, reasonable as well as time-based. Joe’s Roofing and Repair must improve its marketing objectives based on the SMART goals so that it could take a quick review of its situation in the market.
Overview of the Literature
Sinha and Sheth (2018) in their work have argued that in order to gain business success, it is necessary that an organization must be aware of its target market, competition, situation opportunities, challenges, risks as well as evaluate the best alternative methods to improve the adverse circumstances so as to reach its target objectives. On the other hand, Robaina and Babor (2017) contends that, merely defining the objectives of the business is not adequate, an organization must implement the best alternative strategies to promote its business. in their work have argued that one of the primary objectives of a marketing strategy is to set the business on an explicit course in marketing. Moreover, it is evident that the objectives of marketing when usually aligned with the broader business objectives, it enables the management of the firm to gain new access of market. For an instance, any new corporation seeking to grow and develop, often modifies its marketing plan and strategies to attract potential customers as well as ensure increase in its customer base (Komodromos, Papaioannou & Adamu, 2018).
According to the point of view of the scholars Appiah-Adu and Amoako (2016), an organization must be aware of its internal strengths and weakness which defines its potencies. It not only helps the business to take into consideration the proper methods to exploit its strengths towards gaining success in the most competitive market but also implement strategies to overcome its weakness, thereby avoiding pitfalls and loopholes. This in turn will also help in exciting appropriate strategies in business development. On the other hand, Komodromos, Papaioannou and Adamu (2018) in their work have argued that failure to identify the significance of an appropriate marketing plan might lead to loss of market share to the competitors, gaining and retaining fewer customers, suboptimal execution, which signifies that the competitors might pose greater threats and challenges in the market. Joe’s Roofing and Repair company must take into consideration these vital factors while designing its marketing strategies. It must not only be market oriented but also target orient because it will help in identifying the specific area of development in the future. The role of strategic marketing in business development is overwhelming (Komodromos, Papaioannou & Adamu, 2018). There are a number of organizations which has not only improved its marketing plans and policies but also the way to approach the customers with enhanced business promoting options. With the advent of digital technologies and advancements therein, it has become significantly important for the business runners to take into consideration all the factors that affect their business largely (Komodromos, Papaioannou & Adamu, 2018).
According of the point of view of the scholar, Ottman (2017), creating brand awareness with visual affect in advertising campaign is one of the latest technical advancement in marketing approach. Marketing intelligence system which dals with the details of the customers along with their preference of choice has made it easier for businesses to take into consideration all the necessary factors that are significant for implementing marketing strategies which as a result will enhance promotion f the business in the national as well as in the international borders, thereby gaining huge attention from the customers (Weinstein & Winston, 2016).
The most common challenges which have been faced by business owners or entrepreneurs while creating a marketing plan is its commencement (Weinstein & Winston, 2016) Many of the large business house have faced difficulties in taking initial step towards implementing marketing strategies, particularly the first step in deciding which plan to choose. Evaluating best available alternative plans based on past results and circumstances, target customers, market situations, product demand, helps a business to foster growth. In addition to this, Nagle and Müller (2017) are of the view that the cope of digital marketing and visual merchandizing has created immense opportunities for both small- as well as large-scale organization to promote its business and attain success ahead. De Mooij (2018) on the other hand, have contended that creating a marketing strategy that is highly focused on specific audience and serving their needs is the most common approach to identifying the interest of target audiences. Marketing communication tools are also one of the major driving force of business success (Shen, Chiou, Hsiao, Wang & Li, 2016). According to the point of view of the scholars Weinstein and Winston (2016), establishing proper marketing communication and channels of communication in an effective manner which meets the stands of effective business communication has always proven to be the most significant approach in implementing appropriate strategies to promote the product and services. On the other hand, Ryan (2016) is of the view that market communication helps in creating brand awareness and helps in determining rather the approach taken towards improving marketing strategy fits the business objectives or not.
According to the point of view of the scholars Morgan, Whitler, Feng and Chari (2018), since one aspect of marketing strategy influences all the other aspects, therefore it is necessary for an organization to coordinate its activities. It is one of the most critical ways to eliminate interference as well as maximizing profits. In addition to this, the scholars Swani, Milne, Brown, Assaf and Donthu, (2017) have also argued that a marketing strategy which looks at all the areas of selling activities and along with it helps support the next activities of the business such as other departments, and also ensure that all of the departments are aware of the objectives and their steps towards attaining the same. Apprehending the ways to create an integrated marketing strategy help make better individual decisions with regard to specified marketing campaigns. One of the most significant part of a marketing strategy is setting the appropriate price for the products and services, which is highly based on the tools that are generally implemented in market research (Blakeman, 2018). For an instance, if customers want a high-end product in the categories, the pricing strategy of the product might necessitate selling the same at such a price which would create high-end perceived values. On the other hand, if the target customers are more of a bargain conscious as well as is ready to accept the products and services in exchange for paying less money, therefore, the pricing strategy would entail sale of the products and services either at or below the prevailing market rate (Nagle & Müller, 2017).
The driving forces which are necessary for improving the market strategies must also be kept in mind before making any changes in the strategies (Komodromos, Papaioannou & Adamu, 2018). In addition to this, there are a number of organizations all over the world that have strived towards making an effort for advancing promotional techniques that would result in increased sales and revenues as well as customer base, however, appropriate research with regard to the standards of product, market demand and customers preference were the secondary sources that have also been taken into consideration while strategizing the promotional plan (Komodromos, Papaioannou & Adamu, 2018).
Missing the opportunities in gaining customers attention will cost the business a lot. According to the point of view of the scholar Hunt (2018) when the marketing department makes a marketing strategy, it is necessary to coordinate and collaborate the agenda with the other departments as well. This will enable all the departments together to move in the direction of success, since they all work on the same proposal (Weinstein & Winston, 2016). For instance, the advertising team would communicate with the product development team so as to determine the messages that needs to be sent to the customers for the benefit of the organization. On the other hand, the sales team would communicate with the team that are accountable for managing the offers or discounts, rebates or coupons without damaging the brand. Therefore, the work of one department affects that of the other departments when any decisions are made with respect to the products and service (Weinstein & Winston, 2016). Joe’s Roofing and Repair company must also establish proper coordination among the team members while implementing marketing strategies. Thus, it is necessary for the company that it reviews its marketing strategy, which must comprise of diverse elements and policies for its target market. This not only involves appropriate marketing mix but also evaluation of the level of marketing expenditure. In addition to this, the company must also ensure that such factors and resource meets the necessary level of its sales volume. It will also help in providing a competitive edge over its competitors in the market.
Joe’s Roofing and Repair organization faces glitch in tits marketing approach and hence fall in the sales and revenue. Therefore, the primary objective of the research is:
- To explore the reasons behind the decrease in the sales volume of the company.
- To study the strategies implemented by the company with regard to marketing its products and services, which now prevents it from attaining success.
- To suggest effective marketing strategies which will enable the company to improve its sales, revenues, growth and development as well.
The above research objectives on improving marketing strategies have helped in formulating the elbow research questions:
- What are the primary reasons for decline in the amount of sales and revues of Joe’s Roofing and Repair company?
- What are the successful marketing strategies for small firms?
- How the organization can improve its sales and growth through improving its marketing strategies?
Collection of data in any study area involves a load of pressure on the researchers as it entails numerous sources from which data could be gathered for research. For this research, qualitative method will be used to collect the data. The data will be collected using a number of sources such as through interview of the managerial staff from marketing department, sales department, business intelligence team and the manager of the company. In addition to this, the research would also involve the senior staffs from each department who would be interviewed altogether with group discussion. The secondary data will be collected using journal articles, internet-based research, websites of diverse companies that have implemented innovative marketing strategies, which would be of immense help for mall firms to improve their sales and revenues as well as market position. The total time taken in this regard would be 90 days approximately, which might exceed by 10-15 days due to availability of staffs of the company and the availability of data in secondary sources.
Analysis of data can be done in various manner, which generally involves descriptive modes of evaluation. Analysing the contents of the data collected through diverse sources is a challenging task which generally takes days to interpret the messages conveyed by the respondents. In the present case, the data will be analysed using thematic analysis method. This will provide immense opportunity to the researcher to have a great deal of knowledge with regard to the major marketing theme. Analysis the data would involve evaluation based on the data gathered by interviews of the managerial department, manger and the staff. Therefore, different theme would have to be made based on the answers of the respondents. This will help in scrutinizing the data in-depth.
The research question would be addressed by researching on the existing marketing strategies of the company and the suggested techniques to improve the same by means of implying advanced marketing skills. The primary data and secondary data, both will be evaluated qualitatively to address the research questions framed above.
The practical implication of the research would be implementing the improved marketing technique in business organization by means of researching on the targets attained by the business. Refining the modes of research will help in overcoming the limitation.
Conducting research on any field is a stressful task which not only involves researching on the concern areas, but also includes research on the adjoining fields which helps in determine the appropriate steps in decision-making. There are limitations of research which makes the approach little narrower. The most significant limitations of this research are time constraints and reliability levels. The paradigm of this research is manifold; however, it would take a lot of time to collect data from the respondents and secondary source as well. However, due to lack of time, minimal data might be collected so as to complete the research within the given deadline. In addition to this, the data that are collected in the research is based on the interview of the managers of Joe’s Roofing and Repair company. The interpretation of the data might involve biasness in judgement. Therefore, the reliability level of the research is another major limitation.
Running a business in the imost competitive market has become a challenging task for the small firms. Rather in the national of international market, businesses find it difficult to survive due to rising competition and globalization. This has not only compelled the organisations to improve its efficiency but also modify its approach towards running business. Joe’s Roofing and Repair Company face declining sales and loss of revenues, the reason being inappropriate marketing strategies to compete with the peer groups in the market and attract more customers.
This research would study the reasons the failure of the company in attaining the desired sales levels and profits, its inadequacy in marketing strategies and the modifications which it can bring in its approach towards running the business by improving those marketing strategies. The qualitative research will provide an insight about the primary reasons for failure of small firms in Sydney
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