Strategic Marketing Plan for Middle Harbour Yacht Club: Market Analysis and Growth Strategies

1. Presenting to Louise Bashford Peter Hemery A Marketing Plan

2. Situational Analysis

3. Australian Clubs Other States NSW Clubs RSL Sporting Community Recreation Leagues Sailing Bowling … Market Analysis • Market Definition • Market Structure • Market Potential • Market Size • Market Trends

4. Environmental Analysis • Economic factors • Technological factors • Natural factors • Cultural factors • Legal/political factors

5. Company Analysis • Mission Statement • Assessment of the Marketing Mix • Product • Price • Distribution • Promotion • Brand Image • Accessible, Niche, Prestige, Community, Friendly

6. Inaccessible Strong Emotional Appeal Weak Emotional Appeal Easily Accessible Company Analysis

7. Customer Analysis • Sailing • Functions & Conferences • Social

8. Competition Analysis • Direct Competitors • Cruising Yacht Club of Australia • Royal Sydney Yacht Squadron • Royal Prince Alfred Yacht Club • Indirect Competitors

9. Implications • Essential to create awareness and build credibility. • Leverage sponsorships • Conferences and functions have high gross profit margin • Weaknesses • Retention of members • Interior decor • Seasonal variation • Implications • Need to provide consistent revenue stream • Increase functions • Find a revenue stream that does not have significant seasonal variations • Threats • Clubs NSW legislation • Competitors have high resources • Skiff club • Other sailing clubs (CYC) • Seasonal fluctuations Strategic Competitive Advantage: Middle Harbour Yacht Club is the accessible alternative to the high prestige Yacht clubs SWOT Analysis • Strengths • Location • Sailing product • New marina • Membership base provides ongoing revenue • Opportunities • New member base • Shift towards 25-40 demographic • Scope for more functions

10. The Strategy

11. Objectives • Mission Statement “To ensure MHYC is recognised as a friendly, structured and well regarded club, with first class sailing and hospitality to all members and their guests” • Company Objective • Marketing Objective

12. Target Market • Identify market segments ( top of the scale to the bottom) • From this we have identified 3 major target markets • Primary: weddings • Secondary: birthdays and work functions/conferences.

13. MarketingStrategy • Key strategy needs to bring in revenue • To achieve this: • focus on the functions business unit • Particular focus on catered functions • Consistent, high margin revenue stream • Build strategic media partners by offering benefits

14. Howdoweraiserevenue? • The adoption process • Awareness • Interest • Evaluation • Trial (Sale) • Adoption (repeat sale, and/or brand advocate) • New objectives: • To raise awareness of the functions facilities • To encourage trial

15. Promotion • Changes to current strategies: • Update website • Incentivise members • New Strategies • PR focused due to limited budget • Higher impact

16. How to reach our targets?

17. Strategy 1 – Editorial • A sustained and consistent drive to gain editorial • Target bridal, CIM, venue magazines and websites • Send media packs: • Imagery • Media release • Brochures (floor plans, menus etc)

18. Strategy 1 (cont) – Editorial • Specific suggestions: • Sydney’s Unique Venue Association (www.suva.com.au) • Small fee • Representation at trade fairs (grass roots) • Sydney City Search (www.citysearch.com.au) • Wedding venue search engine

19. Strategy 2 - Competition • Commission a photographer (check resolutions required) • Develop a relationship with Bridal Magazine • Develop a competition in conjunction with magazine (include photos) • Exposure through pre-promotion and follow up

20. Strategy 2 (cont) – Competition • Drive contestant to website to enter (hence raising awareness to target market) • Collect data of unsuccessful contestants and follow up with a revised (!) offer • Use winner to showcase wedding and gain further editorial

21. Strategy 2 (cont) – Competition • Drive contestant to website to enter (hence raising awareness to target market) • Collect data of unsuccessful contestants and follow up with a revised (!) offer • Use winner to showcase wedding and gain further editorial

22. Strategy 2 (cont) – Competition • Use experience when approaching other magazines. • This strategy can be used for conferences, incentives, and meetings

23. Strategy 3 – Leveraging sponsors • Sponsor workshops • Shared marketing plans • Find appropriate areas to where MHYC can plug into re: events

24. Strategy 4 – Media Launch • Launch • Position as ‘new’ • Invite appropriate media contacts to create awareness

25. Strategy 5 – Key Opinion Leaders • Local marriage celebrants as ‘key opinion leaders’ • Send celebrants information kit followed by phone call

26. Strategy 6 - Advertising • Advertising in Sydney bridal magazines • Improves brand recognition within the Sydney wedding scene • Bride to Be = best option (largest readership, 4 editions yearly and two targeted at venues) • Offer naming rights to yacht race will create close relationship

27. Marketing mix • Price – to be determined by MHYC • Product – renovate where possible • Distribution - perfection

28. Budget

29. Implementation

30. Implementation

31. Control procedures and Evaluation • Control needs to be implemented for each strategy to ensure results • Weekly quotas of releases • Surveys • Ultimately Sales

32. Future Recommendations • Refurbishment of the club • Entertainment within the club • Continuation of marketing plan

33. Inaccessible Strong Emotional Appeal Weak Emotional Appeal Easily Accessible

34. CONCLUSION

35. Any Questions?