Maketing Plan

Product – Bunnings Warehouse is the leading retailer in home improvement and outdoor living products across Australia and New Zealand. Catering to consumer and commercial customers, Bunnings is a major supplier to project builders, commercial tradespeople and the housing industry.

Industry –The sector has shown continued growth over the past decade as it is not as susceptible to external factors like new dwelling construction.Studies show that 66% of the Australian population are buying something every year from industry leader Bunnings and this statistic is gradually rising. More people are turning towards personal home improvement projects as the prices of new dwellings rise while the industry continues to grow. Main competitors ‘Mitre 10’ and new and rising Woolworths owned ‘Masters Home Improvement’ fall behind Bunnings while studies suggest that their customers visit Bunnings as well.

Marketing Issues 

Company Background – In 1886, Arthur and Robert Bunnings left London to arrive in Perth and found ‘Bunnings Bros Pty Ltd’ primarily focusing on sawmilling and timber distribution and less on building. In 1952 in the WA market, adding building supplies to their existing timber business marking the beginning of their rise to become the industry leader. Beginning in 1989 and through til present, Bunnings began to grow through acquisition – purchasing and merging similar companies, continually growing and expanding across to the East Coast. Today Bunnings continues to expand its operations with new warehouses and small format stores and trade centres throughout Australia and New Zealand.

Marketing Mix

The marketing mix of burning warehouse is shown by 7ps structure namely product, price, promotion and placement (Bowden, 2003). The products which are provided by this company are aimed at achieving the requirement of current hosing needs of the target market.

Product

Burning warehouse provides high quality home improvement and outdoor products to customers. It product have the potential to provide high customer satisfaction by improving homes to different customers (Hoctor & Thierauf, 2003). It products are also differentiated in terms of quality, design and functionality. This makes it to be easily be identified by customers who has obtain previous experience.

Price

Burning warehouse set its prices in relation to the need of customers in different market segment and the correct value and quantity of the product. It ensure that product of high value, quality and quantity are sold at high prices in a target market where customers have high income (Hoctor & Thierauf, 2003). This is because people of high income group are price and quality sensitive therefore they will be willing to purchase the products of this company so long as they have high quality and at sold at a reasonable price.

Promotion

This company should conduct extensive promotion and ensure that there are more advertisement operations more often.  Since this company does not involve more in marketing, it should ensure that it creates more awareness of its products using promotional mix such as digital media, internet and online marketing. It should also formulate an effective budget to finance its integrated marketing strategies that ensure that there is both promotion and marketing activities for the effective awareness creation for its products. It has to use a sweet message when marketing its products which is expected to be made in consonance containing marketing purpose, target market and vital features about the product being marketed (Hoctor & Thierauf, 2003). The promotional operations that the company should span the pre-instigation instigate and post launch should have both involvements of industry and trade fairs. It should try to keep its credibility and market position. This forces it even to use billboards and television advertisement to reach many customers (Bowden, 2003). For this company to reach more people, it opens a number of stores in different regions so that its products can easily be accessed by many customers. It also promotes its products by creating websites and internet portals where many customers can use to conduct business transaction.

Placement 

Bunnings Warehouse place is found along high streets where it uses to link with customers to ensure that it sells its products to any kind of customers in the market (Bowden, 2003). It opens different stores in large cities and busy local markets where its products can easily be accessed by customers. It selects its store sites effectively and it differentiates its products according to the needs of customer in each market place.