Breville Group Limited Business Plans Examples
3-Year Marketing Plan
Section A-Product and Target Market
Breville Group Limited markets and distributes our brands (including the Breville brand) in over 50 countries. It is known for producing one of the top food processors on the market, the Breville BFP800XL/A. It had one of the highest ratings on the Consumer Reports website.
“[Our mission is to deliver] innovations and insights that empower people’s potential to do things more impressively or easily than they’d thought possible in their own kitchen.”
The product, Breville BFP800XL/A, assists Breville Group Limited in accomplishing their mission by allowing consumers to impressively and prepare meals by offering features which permits the consumer to create French fries, julienne vegetables, to whip foods, and adjust slicing.
Consumer Product Classification
The Breville BFP800XL/A can be classified as a shopping product since this a product that consumers would like to be able to compare value while shopping for other similar products. It is also distributed widely at various retailers and other outlets. Appliances, automobiles, furniture and homes are usually classified as such.
The target market for this product is the homemaker with a large family and who prepares meals on a regular basis, and whose household income is $35,000 per year and upwards, since the appliance is a high-end appliance.
Section B- Competitive Situation Analysis
Analysis of Competition using Porter’s 5 Forces Model
Competitive Rivalry: The competitive rivalry in the kitchen appliance industry is quite intense because there are many high quality appliances, such as food processors, which are being produced on the market on a continuous basis. Some of the brands that Breville has to compete with include KitchenAid, Hamilton Beach, Cuisinart, Ninja and Proctor Silex. Therefore, it is important that that Breville always has a competitive advantage over its competitors.
Threat from New Entrants: The threat of possible new entrants in the market is major concern for Breville Group Ltd when marketing its food processor because recently two brands that have recently entered the market with high quality food processors. These brands are Ninja and the Magic Bullet. The Ninja brand in particular has been quite successful producing the Ninja mega kitchen system the design of which has caused it to gain rave reviews from customers. The top class food processor has undoubtedly cut into Breville’s market share.
Threat from New Buyers: The threat of buyers is an important threat for the Breville Group Ltd to consider when marketing its food processor. This is because the type of product that the food processor is allows it to be distributed through a variety of retailers—both online and offline. The major large retailers often sell small appliances, such as food appliances. Their strong buying power allows these major large retailers to have power over appliance manufacturers, such as Breville Group. These major large retailers include Walmart, Target, and Sears. However, the e-tailers (which are online retailers) have stronger buying power than even the offline retailers. For instance, in the case of Amazon.com, this company can source many products from multiple suppliers. Economists refer to this market structure as a monopsony. These conditions permit a very strong buyer, such as Amazon.com, to set the price. Therefore, Amazon.com can price products that could potentially reduce Breville’s profit margins on appliances, such as food processors.
Threat from Substitutes: The threat of substitutes is another significant concern for the Breville Group Ltd. This is the case because foods which have been already been processed by a manufacturer will allow the customer not see the need of buying a food processor to prepare or process his food. This factor could also potentially cut into the profit margins of Breville’s food processors.
Section C –Objective and Strategy Planning
This section will highlight the marketing objectives, strategies, and tactics which need to be used by Breville Group to market Breville BFP800XL/A food processor to its target market while accomplishing its mission, and increase its profit margin.
Breville Group should improve the Breville BFP800XL/A food processor so that the company can fulfill its mission of allowing people to easily and impressively prepare foods in their kitchen. Breville Group could offer the Breville BFP800XL/A food processor could be offered to the consumer with various packages, each having a different set of attachments to suit the consumer needs. The product should be more durable and 2-year processor Limited Manufacturer’s warranty. The motor should also be made to be more powerful so that can easily crush hard items such as ice and fruits with a thin rind. This product should increase the revenue by 7% over 3 years.
Breville Group could sell these food processor ‘packages’ from $200-400.
These food processor ‘packages’ are to be distributed at various retailers worldwide both on online and offline outlets. Therefore, it is important that the Breville Group creates products that can effectively compete with the leading food processors on the market with the most innovative technology available so that consumers will be convinced to invest in buying Breville’s products.
The promotion strategy that can be used by the Breville Group to promote these new food processor packages is online video demonstrations of the ways that these food processors and their various attachments can be used. The Breville Group can also perform in-store demonstrations of how these appliances and their various attachments can be used.
Tactics and Action Plan
These are the tactics and the action plan that the Breville Group could use to implement the above mentioned strategies.
Product Action Plan
Create Food Processor Packages using the Most Advanced Technologies Available
Price Action Plan
Place Action Plan
Promotion Action Plan
This section highlights the activities that are needed by the company to measure the extent to which the strategies that are implemented are working.
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