Ripit Surfboards Report

Executive Summary
Located in the Manly Industrial Area, Ripit Surfboards is a private company that
manufactures both specialised and generic surfboards. The business is currently
in its post-maturity stage, as it is gradually declining due to increased
international competition, an ineffective marketing plan and a reduced customer
base. The purpose of this report is to inform the owners of Ripit Surfboards of the
factors influencing customer choice, to recommend an appropriate marketing
mix and to explain legal aspects that relate to consumer laws.

Factors Influencing Customer Choice

Psychological
Attitudes
Personality and self-image
Sociocultural
Culture
Reference groups

Ripit Surfboards customer base is significantly influenced by psychological and

sociocultural factors.

Marketing Mix
Intro
o
The marketing mix, also known as The Four Ps refers to the combination of
the four elements of marketing; product, price, promotion and place. A business
that controls the marketing mix and applies it efficiently will successfully achieve
its marketing objectives and profit maximisation. Ripit Surfboards is currently in
the decline stage of the Business Lifecycle, therefore it marketing mix needs to
be adjusted accordingly
Product
o
The product refers not only to which good or service that the business will
produce, but also to the products quality, packaging and labelling, design, brand
name and guarantee. Customers buy products that not only satisfy their needs
and wants, but provide intangible benefits such as security, prestige and
satisfaction.
o
Link to Case Study
Price
o
Selecting the right price to market the product at can sometimes be difficult.
Considerations such as the break-even point for the business, the price that
competitors are selling their products for and the level of customer demand need
to be well thought-out when determining the products price.
o
Link to Case Study
Promotion
o
A promotion strategy details the methods to be used by a business to persuade
and remind its customers about its products. Advancement in technology has a
significant impact on how businesses promote their products. The main forms of

o
o

promotion include advertising, personal selling, relationship marketing, sales

promotion, publicity and public relations.
Link to Case Study
Place refers to the businesss channel of distribution; the ways of getting the
product to the customer. This product usually involves multiple people at various
stages, such as a wholesaler or retailer that the customer usually knows little
about. The number of other stages will determine how widley the product will be
distributed.
Link to Case Study

Consumer Laws
As an Australian-based business, Ripit must take into consideration, the
Competition and Consumer Act (2010) and the Fair Trading Act (1987).
These laws are tasked with improving the protection and rights of a
consumer and clarifying the rights and responsibilities of a business.