Bindle Marketing Plan

[pic 1][pic 2][pic 3][pic 4]

Table of Contents

INDUSTRY OVERVIEW        2

MAJOR PLAYERS        2

GROWTH TRENDS        2

BINDLE’S BACKGROUND        3

MAIN PRODUCTS        4

EXTERNAL ENVIRONMENT ANALYSIS        4

MACRO FACTORS        4

POLITICAL        5

ECONOMIC        5

SOCIAL        5

TECHNOLOGICAL        6

ENVIRONMENTAL        8

LEGAL        8

MICRO FACTORS        9

COMPANY        9

CUSTOMERS        9

SUPPLIERS        9

mARKET SEGMENTATION        9

MARKET TARGETING AND CONSUMER PROFILING        10

DIFFERENTIATION AND POSITIONING        11

CONCLUSION AND IMPLICATION        12

REFERENCES        12

BINDLE

INDUSTRY OVERVIEW

Online retailing and online shopping has changed the Australian Retail Trade division. It represents a paradigm shift in the way the consumers have been transacting. The online retailing industry has been dramatically growing over the past five years and has become the vital part of mainstream Retail Trade Division. Retailers in the industry operates the website that enable the consumers to purchase from a broad range of products including homeware and domestic appliances, clothing, footwear, groceries, gifts, liquor, recreational goods, cosmetics, fragrances, toiletries, computers, electronic goods and other products (IBISWorld, 2016). [pic 5]

MAJOR PLAYERS

The major players of the online retail industry includes Amazon.com and Direct Group Limited. Interhampers is also Australia’s largest hamper company with its operations in Australia and New Zealand (Euromonitor, 2016).

GROWTH TRENDS

Australians have been continuously switching from home shopping to internet retailing due to which many of the companies that were primarily home shopping retailers are expanding online. The market trends has been encouraging customers to use online websites for meeting their requirements. Since online orders and payments provide several advantages for the companies, so it benefits the consumers that choose internet retailing over home shopping (Euromonitor, 2016).

The positive growth trend in internet retailing market is specifically due to strong Australian dollar that attracts the local consumers who are looking for better prices at overseas websites (IBISWorld, 2016). Internet retailing is expected to grow by 8% value i.e. CAGR at constant 2015 prices over next five years (Euromonitor, 2016). According to report by Euromonitor (2016), the number of internet users is expected to grow from 19.2 million in 2015 to 22.2 million in 2020, which will drive up the growth of internet retailing.

Latest data from Roy Morgan Research (2015) revealed that the online shopping trend in Australia is continued in its upward trajectory since the past few years. Australians with 14+ age buy one or more than one products through internet in four weeks on an average. Top 10 online retail business has been gaining popularity since 2011 (IBISWorld, 2016). The most popular industry category has been food and beverages while the second category is the Fashion accessories. In 2014, the most popular online shopping product were entertainment and leisure, reading materials and fashion accessories (as shown in the figure below). The population buying fashion accessories has topped from 1,062,000 to 1,936,000 people in just 3 years following 2012 till 2015 (Roy Morgan, 2015). [pic 6]

[pic 7][pic 8]

Figure 1: Ten Most Popular Online Shopping Products in Australia in 2014

Source: (Roy Morgan, 2015)

BINDLE’S BACKGROUND

Bindle is an online Australian gift store which aims at blending the sustainability with style. The gift hampers styled by Bindle are customized for specific occasions and themes. The company has stretched its operations throughout Melbourne and wider Australia. Bindle deals in hampering the gifts for men, women, mothers, corporate clients and babies (Bindle, 2016). Each box created by Bindle contains Australian tailored goodies. Bindle has gained recognition for using recycled paper while customizing the gifts for its customers. The gifts designed by Bindle work are completely hand crafted in signature gift boxes and perfectly wrapped in high quality gift papers (Mason, 2015). These gift boxes work as an excellent alternative to traditional gift hampers.

MAIN PRODUCTS

Bindle offers customized gift hampers that meet the criteria of a specific occasion. May it be Christmas, New Year or Birthday, Bindle has a pre-customized gift hampers to meet the taste. Each Bindle is compiled up by several talented individuals that stir in his or her own creativity and personality. Bindles specifically offers Bathroom products, BBQ products, new born Baby’s stuff, Blokes, Breakfast products, Body cleansers, Coffee hampers, Special culinary extras for kitchen, Christmas hamper, Gifts for Him and Her, Travel pack, Get well soon gift hampers, Housewarming presents, Wedding gift hampers, Gifts for mom to be, High Tea products, Business traveler pack, Gifts for newlywed and products that reduce stress like plants and candles (Campos, 2016). Hampers usually contains hand wash, body cleansers, BBQ sauces, roasted spices, ties, beers, wines, honey, hot chocolate, fair trade cocoa powder, fully roasted aromatic coffee, Bath salts, Body Oils, Henry Landon black pepper, body mists and flavored candles (Bindle, 2016). [pic 9]

EXTERNAL ENVIRONMENT ANALYSIS

External environmental analysis is a strategic tool to identify all the external and internal elements of a company that can affect the performance and profitability of an organization. The analysis helps the managers to assess the level of threat or opportunity that might affect the company’s ongoing performance.

MACRO FACTORS

The macro environment in which Bindle is operating can be looked through the PESTLE lens. PESTLE analysis is a framework that is used for thoroughly scanning the external environment in which the organization operates (Brassington & Pettitt, 2005). The acronym stands for Political, Economic, Social, Technological, Legal and Environmental factors.