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Introduction: 7Ps Marketing Mix for Tranquil Water
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Life Water is a bottled water company based in Australia (Lifewater, 2023). This company has administered packaged and drinking water supplies to the entire country. This report study will develop an entire marketing strategy for this bottled company by considering the current market environment, strength and other essential factors related to the enhancement of marketing. Functions of strategic developmental planning in a distinguished economy are quite difficult. Hence, conducting proper planning for business marketing must ensure economic stability, the current GDP of the country and a draft volume of market trends and values.
External environment analysis to suggest suitable marketing for the company covered a discussion of adopting different techniques and strategies. The use of the 7Ps marketing strategy has enabled this study to discuss all of the marketing elements through performing a detailed structure and idea to gain market advantage. Apart from that, a discussion of social media promotion through using unique logos and hashtags has described in this report to gain insight.
Organization overview
Life Water is a multi-million drinking water and packaged bottled water company. This multinational company has decided to prelaunch a new product, a derivative in the competitive market segment d “Tranquil Water” (Lifewater, 2023). Launching of the new product and development have consumed more than a million spending.
External Environment Analysis
Pestle
|
PESTLE |
Factors |
Impact |
|
Political |
|
Positive |
|
Economic |
|
Positive |
|
Social |
|
Positive |
|
Technological |
|
Positive |
|
Legal |
|
Negative |
|
Environmental |
|
Positive |
Table 1: PESTLE analysis
(Sources: Self-developed)
The above table has demonstrated a positive culture of the Australian economy and an opportunity to expand business in this economy. Australia is one of the leading countries that contain pleasant environmental support and the strongest economic stability being the 13th largest country in the world. All of the companies based in Australia have gained success due to the positive impact of all necessary aspects in making supply much more sustainable (Australian Government, 2019). Hence, due to the legal factors in Australia, it has faced some issues and obstacles that have created negative consequences for the economic development of the country.
Porter’s five forces
|
Five forces |
Discussion of the factors |
Impact |
|
Intense competition |
|
High |
|
Threats of substitute |
|
Moderate |
|
Threats of new entrants |
|
High |
|
Purchasing power of buyers |
|
Low |
|
Purchasing power of suppliers |
|
High |
Table 2: Porter’s five forces
(Sources: Self-developed)
In above-demonstrated Table, it has represented an intense competition in the Australian economy. Competition in the water supply industry is quite high. Hence, it is able to assemble a challenging factor to expand the business in this economy. The power of consumers and threats in new substitutes can diminish the lineup of a new start-up business in this economy. Evaluation of these five forces enables Life Water to anticipate competition adjustment through influencing advantage and gaining a strategic position. Besides the risk factors and competition, life water is able to make an average long-term profit scale.
Target market
Smart objectives
To increase customer base by 10 % in Australia within 8 months
|
Specifics |
Increased consumer base by more than 10% through an effective marketing campaign of supply of clean drinking water in rural and urban areas of Australia |
|
Measurable |
This objective could be measure by monitoring customer base increase |
|
Achievable |
This business objective can be achievable through implementation of low product cost strategy in Australia along with implementing a funding strategy |
|
Relevant |
Hence, major objectives are considered increased consumer base by 10%, it is relevant as increase in customer base will result in enhancement of sales |
|
Time-bound |
Implementation of water purifying and new product launch will take more than 8 months to stay on track and achieve defined objectives |
Table 3: Evaluation of SMART objectives
(Source: Self-developed)
Market Segmentation
|
Market Analysis for Life Water in the Australian Economy |
|
|
Segmentation |
Country - Australia Region - South and Western Australia (Australian Government, 2019) Cities - Melbourne and Sydney |
Age culture - All alive people in the country Gender - Female & Male Professional - All kinds of people from high earning to low-earning people |
|
|
· Psychographic Segmentation Personality - Focus on the high-population target market Social class - All kinds of people with the same economic diversity |
|
Table 4: Market segmentation for new launch products in the Australian economy
(Source: self-developed)
Life Water Company is able to divide the Tranquil Water market between Melbourne and Sydney based on a variety of factors. As observed by Van Opstal & Smeets (2023), geographically, they may choose urban areas, focusing on health-conscious people who value tranquility and wellness. Adults aged 25-45 with salaries that are higher than and a preference for higher-quality goods could be the target demographic. They can psychologically target people who are interested in contemplation, relaxation, and general wellness. They can target customers who constantly seek out natural, organic, and ecologically sound products. Life Water Company may successfully position and market Tranquil Water in accordance with the distinct requirements and tastes of customers in Melbourne and Sydney by comprehending and attacking these specific segments.
Targeting
Targeting is the process of business marketing through which a company can easily understand the need of the customers and based on this that company can set a target with whom they generally promote their business (Li et al. 2021). As per the case study analysis, Life Water, a multi-million-dollar bottling water company is going to set the target market from where the leaders of this organization can get the idea of where to grow and also expect how to grow among their targeted market globally.
|
Target group |
|
Table 5: The target market for Life Water Company
(Source: Self-developed)
The above framework has depicted the fact that the Life Water Company has already set a target group for their business and market plan development process. This company aims to grab the attention of the overall population of the country. Along with that, this company is also a target to grab the attention of more than 60% of adult consumers who will be both male and female, transgender and many others (Olson et al. 2021). In this regard, this company has also set a target to provide their products to all types of consumers including travelers, households, sportiest, workers, and any other emergency purpose.
Marketing proposal
7 P of marketing
Product
Figure 1: Logo of Tranquil water
(Source: Self-developed)
Life Water has decided to launch a new product of Tranquil Water in the new market segment. As per the case study data and evidence they have already spent more than five million dollars to prelaunch the new product in the Australian economy. Looking at the newly launched product it can stated that a new product and derivative is nothing but just to meet the needs and demands of a consumer. Tranquil Water is one of the innovations of this company that is made from bioplastics. Products made of bioplastics contain fewer carbon emissions and fewer greenhouse effects on the environment. Having a look at food safety and usage of natural resources has assisted life water to gain insight on the Australian market.
Price
Life Water Company must use a strategic pricing approach to successfully launch Tranquil Water in Melbourne and Sydney. One of the most important strategies is prices based on value, which determines the price based on the perception of the worth of the product among those in the target market. By emphasizing Tranquil Water's distinct characteristics, such as its herbal components and mindfulness benefits, the firm may place it as a premium offering, establishing a higher price that reflects the product's quality and exclusivity. As per the suggestions of Dally, Sinaga & bin Mohd Saudi (2021), conducting a thorough investigation of competitive pricing assessment will assist in aligning the price with other premium bottled water brands while taking distinctive products and target market preferences into account. Choosing a “low pricing strategy” will enable us to meet the organizational objectives and enhance the consumer base in the competitive market. Promotional pricing, offering limited-time price reductions, bundle deals, or loyalty rewards for drawing customers can be used to promote initial trial and adoption.
Place
The concept of "place" is critical to Life Water Company's successful start of Tranquil Water in Melbourne and Sydney. The company should concentrate on establishing routes of distribution that correspond to the preferences of the target market. This includes collaborating with high-end retailers, health food outlets, gyms, and wellness centers that cater to those concerned with their health and conscientious customers. Online platforms should be used to provide suitable ordering and delivery options as well. As per the suggestions of Ariyani et al. (2019), strategic alliances complementary with health brands can help Tranquil Water expand its reach and create synergistic opportunities for advertising. To increase visibility and bring in potential customers, retailers should install eye-catching point-of-purchase displays. For effective allocation and on-time delivery, a strong logistics industry and supply chain system is required.
Promotion
Life Water has decided to launch its new product in the Australian market segment through acceptance of additional promotional strategies and choices. Life Water has developed a slogan of “Elevate hydration experience with tranquil water”. This effective slogan of the company highlights the potential nature of Tranquil Water and positions a superior choice in the current market segment. Highlighting the drinking experiences will promote business culture along with the well-being of the community. This company is required to use a “comprehensive promotional strategy” that includes digital marketing technology. As people have spent much more of their time through social media engagement, promotion in digital media platforms will allow them to gain much more insight and increase transparency.
Physical evidence
Physical proof or evidence is a substantial part of the new launch of Life Water Company. Based on this evidence, it can state that Tranquil connotes a good opportunity in the Australian market segment to launch this product by maintaining a wide-scale of the consumer base. There are many examples of physical proofs such as covering & packaging through the usage of natural resources and safe microplastics. The company has made their water bottles with safe and authentic products and plastics that never harm the users. As per the suggestions of Do & Vu (2020), the main physical evidence is the exterior design of the bottle and that is quite attractive to the customers. Considering the evidence it can be justified that Tranquil Water contains a good scope and opportunity in the Australian market segment. The new product Tranquil Water has all the important minerals and properties essential for human bodies such as salt, calcium and magnesium.
The product Tranquil Water of the Life water company is very beneficial and totally safe and good to drink. The water bottle is made of environmentally friendly bio and micro plastics. Plastic is not as dangerous for the earth and environment as other plastics of different products. If everyone uses that bottle then greenhouse gas and carbon emissions will definitely decrease. Soil pollution, water pollution, and air pollution will also decrease and the main problem of plastics, that is the clogging of drainage systems, will also get less because the bioplastics are degradable.
People
The company Life Water’s next target is to attract people and make a target to Australia’s market. They make a target to be the leading water company in the market of Australia. They targeted mainly congested cities such as Sydney and Melbourne as their first priority list as these cities will carry more people for business purposes and many other business locations and there will be more need for water. As per the suggestions of Kwan, Chan & Chiu (2023), this firm thinks as the more quality and mineral water they will provide to their consumers will attract more consumers and they will prefer this water bottle as their first priority and also recommend their family and friends to buy this product. This firm thinks that the more they stay loyal to their consumers the more they can earn profit for the company and generate revenue for the company. Water is required in daily life without water there is no life so this company supplies their product in Australia's market so that every needy person can buy water easily. In case there will be availability of the product everywhere the product will carry more consumers that can generate revenue for the company.
Budget
Figure 2: Budget plan for next 3 years considering previous years' expenses and income
(Sources: Self-developed)
Considering the previous expenses and income of the company a detailed budget plan has calculated. Different expenditures have subtracted from incurred income. Considering all of the revenue streams, it has represented an earnings of 2,032,000 USD in the previous FY.
Action plan (Gantt chart)
Figure 3: Gantt chart (Action plan)
(Source: Self-developed)
PR campaign
Campaign objective
To increase customer engagement by 10 % within 5 months
|
Specific |
To increase customer engagement and generate more revenue for the future via digital marketing channels |
|
Measurable |
The customer experience will be measured via conducting a survey that can also set a position of the company in a global perspective |
|
Achievable |
Customer engagement and brand awareness increase could be achieved via the social media platforms Instagram, Facebook and Twitter campaign |
|
Relevant |
This objective is relevant as….customer engagement via boosting sales, improving service for the customer and growing the online community through diverse social media campaigns. |
|
Time-bound |
To initiate a proper business plan in the next 5 months |
Table 6: SMART objectives of the campaign
(Source: Self-developed)
Message to convey
In the modern era, diverse campaigns via social media platforms are considered a part of “Social Media Marketing”. It is important in initiating the marketing plan of the Life Water Company (Vieira et al. 2019). This company has chosen social media platforms for the campaigns because consumers often use different social media platforms to seek information about a product or brand and also regarding the shop from where they are interested to purchase products or services. Thus, the message that this company wants to convey through the campaign is that they have set out the strategic goals to supply clean drinking water in rural and urban areas of Australia.
Instagram campaign (collaboration with influencers)
It can be depicted as a fact that social media platforms and their strategies for marketing campaigns can confirm the spreading of messages to the areas of the entire country where the target audiences will be presented. This water bottle company of Australia remains present in the Instagram feed and shares different posts related to their bottles. The Instagram posts also include product tags, mesmerizing images and 360-degree views of all their newly launched water bottles (Kingsnorth, 2022). In this regard, the marketing plan of this company wants to boost an Instagram Story and Instagram Reel that will convey and promote their upcoming campaign, which has the target to supply clean drinking water in rural and urban areas of Australia.
Figure 4: The Instagram presence of Life Water
(Source: Lifewtr, 2023)
The market analyst of this company has understood the fact that without a “goal-driven strategy” the entire campaign via Instagram will be futile. In this regard, at the very beginning of the collaboration with the influencers via Instagram application need to decide on the “4 T’s” that include “Target, tactics, timeline and total spend” Along with that this company has also studied the interest of their targeted audiences and that is the major reason behind the launching of their new product “tranquil water” (Katsikeas, Leonidou & Zeriti, 2020). Then after analyzing the need of the targeted audiences, the marketing analysts of this company will create a message for their consumers that will also show the advantages of the tranquil water bottle that is made up of bioplastics. Thus, this campaign will be helpful for this company to track their performance which can help them to meet their goals.
Facebook Campaign
Facebook is the majorly used social media platform and the Life Water Company of Australia is going to arrange a campaign that can act as a marketing promotion for their upcoming new product “Tranquil Water” which is made up of eco-friendly material like “bioplastic” (Desai & Vidyapeeth, B. (2019). Modern people or the people of Gen Y have become more health conscious and to full fill the demand and need of their targeted consumers this company has taken this target to launch this new eco-friendly water bottle. Their marketing campaign via Facebook will contain numerous live videos, pictures and reels that will help this company to promote their business globally. The new product or tranquil bottle images or videos will include the label and logo, and all the promotional videos and posts will add a little description regarding the bottle on their campaign. The marketing manager and the marketing analysts of this Life water company will also be focused on the visual attractiveness of their tranquil eco-friendly bottles. The marketing manager will also make the “Branding Visually” of their upcoming new water bottle product more attractive (Ferrell, Hartline & Hochstein, 2021). The entire campaign will be represented in front of the customers in a simple way. Along with all these they will also build “multi-platform campaigns” with the help of Advertisement Manager.
Twitter campaign
#Feasiblewaterbottles#
The company here has seemed to develop a proper product of water bottles and the bottles will be developed in a way so that they can be reused. The company has been seen to be expanding their business by collaborating with some clinical and chemist firms so that it can maintain the quality of the water (Dolega, Rowe & Branagan, 2021). Apart from that, for exploring both the global and domestic business markets, the company has enabled them in online marketing campaigns. Twitter has been one of the most effective yet wider platforms that the company has chosen for their marketing.
In this particular context, the management authority has successfully managed to develop a proper hashtag for their particular product. “Feasiblewaterbottles” is the hashtag that they will be using for their particular product of water bottles (Jin, Muqaddam & Ryu, 2019). The management of the company got a positive response from their developed hashtag and after multiple clarifications and modifications; they have started to use this particular hashtag for their product development and expansion. Marketing through Twitter will result in quite positive yet effective for the company. As an example, Aquafina has done tremendous marketing through its Twitter campaign using the hashtag. Therefore, this particular company can also manage to meet all these opportunities by developing and exploring hashtags on Twitter.
Community partnership
As per the view of Tang (2023), the “community partnership” term means a contract between an organization that is helpful for social development and a community partner. This type of community partnership generally provides different services to a targeted population of a country or area. New Generations and Cityteam International is the major partner that works with this organization. Hence, through sustainable, simple, and healthcare movements can be adopted. Through this type of community partnership, this company generally aims to reach different groups of people on Earth. "Greater Mekong Water Resources Program (GMWRP) will be a key partner for this Australian company Life Water (Wibowo et al. 2020). The motto of their partnership is to provide"Purified water and Electrolytes for perfect taste". It can also help to provide transparent, equitable and effective water resources management in all the regions of Australia. This company has also taken a target to collaborate with "Australia-Mekong Water Facility (AMWF)" which offers a direct engagement between different regions and areas of the country.
Monitoring Plan
Business monitoring via social media platforms and campaigns play a vital role to enhance the overall marketing plan. “Social media monitoring” is the major process that can track diverse relevant social media targets that have been taken related to the industry, brand, product category and many more (Chaffey & Smith, 2022). In this regard, it is the practice of “looking for” different social ranges that mention the brand or product globally through diverse social media platforms. Hence, in the case of Life Water Company through the social media monitoring process, this company can be helpful in tracking the campaign goals. It will also depict the insight and target of the campaigns that this company has targeted to arrange for their global business promotion.
Social media campaigns can promote messages and open the scope for their consumers to purchase the "tranquil water" product. It can be depicted that by maintaining the campaign plan and budget this can acquire new customers with the target of "Reach, interaction, and Community impact" (Ebrahim, 2020). The monitoring plan of this company also will create diverse "buyer personas" that will be accepted as campaign asset production. Finally, the right tools will be used to boost productivity and that will be accepted as a campaign execution.
Recommendations
It can be recommended that a few solutions can be suggested to bring changes within the marketing development plan via social media platforms. The recommendations are as follows.
Recommendation 1
The company Life Water can enhance its social media platforms by adopting more influencers in the social media platforms. They can add more creative content designers as they can make their project more attractive and attract more consumers. These designers will make their product’s vision more attractive and trendy so that many people will be attracted to the structure along with children (Peter & Dalla Vecchia, 2021). This firm can make more social media pages and they can spread their network marketing through many online shopping platforms that are available to the needy consumers as they can buy water bottles for any family programmes.
Recommendation 2
The company Life Water can make multiple online yet social programmes to reach the people more. They can reach the people and spread their product’s benefits, the ingredients of their product (Kingsnorth, 2022). They can share the health benefits of their product so that people can know about their product and buy their product and they can earn interest. They can make a social programme in many hospitals and add more healthy minerals to their so that doctors recommend their product to the patients. From this they can generate revenue for the company. More healthy and trustworthy products they make the more they can earn interest.
Conclusion
The entire report here has been seen to be developing through some extraordinary processes of marketing and business operations. It has been seen that the organization is willing to introduce an eco-friendly water bottle "Tranquil Water" that will assist them to move their business forward. Additionally, the organization overview and micro and macro business analysis have passionately fulfilled all the requirements in the report. Market segmentation has been described by specifying the target market and targeted customers. 7ps Marketing here has successfully evaluated the marketing aspects of the esteemed organization. Noteworthy, the company has been seen to be using social media campaigns for their business promotions. Considerably, Facebook and Twitter have been the two most convincing social media platforms that the company has chosen to conduct their marketing. Social media campaigns, the development of a new attractive logo along with fixing the budgetary action have assisted the company to move the business forward to achieving success in the business. Fundamentals of the business have been modified through effective business operations and it has precisely helped the company to gain competitive advantages in the business. Through all these particular considerations, the entire report has been established properly.
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