i want it within two weeks - Identification and analysis of a new product (service) opportunity,...

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i want it within two weeks - Identification and analysis of a new product (service) opportunity, strategy development and evaluation, and a set of recommendations for the market launch and continuing management of the product (se
	
Document Preview: Identification and analysis of a new product (service) opportunity, strategy development and evaluation, and a set of recommendations for the market launch and continuing management of the product (service)Developing a new product (or service)—the target market and the product area are entirely at your discretion. However, experience from previous years strongly suggests that you are the product development team at a well-known company, e.g. Coca Cola or Coles or Cadbury (restrict this to the Australian-based market). You are to employ the analytical techniques from the course to, for example:Identify the opportunityAnalyse the market, possible customers, competitors, market size and other relevant issuesSet objectives and strategiesDevelop three year forecastsCompile the marketing mixOutline how the product’s performance will be measured.Produce a business report (two parts) covering the above items (and others) along with a set of recommendations for the launch and management of the product over the first three years.ComponentsCommentsPart AIntroductionThe new product conceptSituational AnalysisBackground, purpose and formatDescription of the product, what need is being fulfilled, likely target market(s), etcPESTEL analysis What existing products fulfil the need/or what gap existsCompetitor analysisMarket size and growth prospectsPart BMarketing PlanExecutive SummaryIntroductionDescription of the new productNeeds/wants being fulfilledDescription of the target market(s)Major goals and objectives (launch period and over 3 years)Value propositionRecommended major strategies (launch period and over 3 years)—the marketing mixFinancial performance (3 years)Performance evaluation metrics—financial and non-financial)Contingency PlansPart A will be approximately 2,000 – 2,500 words and Part B will be approximately 3,500 – 4,500 words for the Executive Summary and the body of the report.

Robert · Accepted Answer

Australian Tourism Industry  1 

Strategic Marketing Plan  
For  
Ecotourism: A New Service in the Australian Tourism Market  
Australian Tourism Industry  2 
 
Australian Tourism: An Introduction 
 Australia is known to be the eighth biggest tourism market in the world as well as one 
of the major destinations for conducting business and make future investments. Australia is 
the world’s strongest tourism destination and largest market in aviation segment. Australia 
offers stable and secure environment for the tourism investors.  Tourism plays a significant 
role in Australian economy as well as the largest service export earner. The consumption of 
the Australian tourism is values at A$96 billion through robust performance of the 
accommodation sector, increasing business and international visitors night and mounting 
domestic tourism. This is why the overall FDI (Foreign Direct Investment) into Australia has 
grown by 7.5% to A$ 473.3 billion in 2010 (AusTrade, 2012b).  
Moreover, Australian tourism industry generates $94 billion by way of spending as 
well as contributes approximately $34 billion in the GDP of Australia. It also directly 
employs more than 500,000 individuals and earns around 10 percent of the total Australian 
export’s earning. This makes tourism industry as the biggest service export Australian 
industry. The industry also helps to raise fund for economic infrastructure and promote 
commuter’s linkage between Australian’s international interests (NMConsulting, 2010). 
Further, Australian tourism industry has huge future potentials as it is having unique 
landscape; indigenous heritage and culture; nature based tourism offering; friendly, diverse 
and tolerant population that makes Australian tourism unique destination. Additionally, the 
Australian tourism also offers man-made attractions that are highly valued by the tourists. 
The potential of the Australian tourism industry can be illustrated with the help of following 
figure: 
Australian Tourism Industry  3 

Source: (DRET, 2011)
 On analysing such a huge potential in the Australian tourism industry, the new 
product development will be done as new tourism service within Australian tourism industry. 
Therefore, the prime objective of this paper is to promote the tourism in Australia by 
increasing number of visitors, the duration of visitors’ stay and the amount of money they 
spend during their stay in Australia. The said objective will be achieved through 
concentrating on the following said objectives: 
- Building strong brand propositions for the Australian tourism through 
promotion and advertising within the targeted market. 
- Working with the international and domestic trade to the package as well as 
deliver quality products within the market. 
- Assisting visitors through leisure friendly and no frill airlines.  
- Visitor assistance as well as sales through network. 
- Off-share PR activities through leveraging Australia in film, online, print, and 
television media.  
Australian Tourism Industry  4 
 
- Offering innovative, safer, affordable, and eco-friendly tourism products to 
gain competitive advantage in the highly competitive Australian tourism 
industry.  
It is very crucial to consider external environment in which business operates before 
planning and starting the marketing process as well as monitoring them in order to make any 
changes in the marketing activities. So it is clear that successful implementation and 
achievement of above stated objective will be only possible if strategic marketing plan is 
prepared. The preparation of the strategic market plan requires market analysis including 
competitor’s analysis. So, the following section will discuss the Australian Tourism market 
analysis with the help of strategic analysis tool, called PESTEL analysis.
PESTEL Analysis  
Political, economical, social, technological, legal, environmental factors of the 
environment, affects any strategies or marketing plans of an organization and for the purpose 
of analysing macro-environment, PESTEL analysis is used. The PESTEL analysis of 
Australia for Tourism industry is discussed herein: 
Political and legal factors basically refers to government policy, degree of 
intervention in the economy, government stability, taxation policy, government relationship 
with other countries, policy regarding subsidy, government preference for the various 
products and services, industrial policy etc (Dobson, Starkey and Richards, 2004). Political 
factors play crucial role in the success of any business as it affects the infrastructure of the 
economy, education, health and stability of the economy.  
The political or legal factors affecting the Australian tourism industry includes: 
political environment is having receptive attitude toward FDI, positive attitude towards 
improving business as well as the investment climate, having independent judiciary which is 
Australian Tourism Industry  5 
 
relatively unstable and inadequate. Moreover,

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