Index INTRODUCTION ANALYSIS OF THE MARKETING ENVIRONMENT - MICRO TREND TREND ONE-COMPETITOR TREND TWO - CUSTOMER ANALYSIS OF THE MARKETING ENVIRONMENT - MACRO TREND SMACRO TREND ONE - ECONOMIC MACRO TREND TWO - TECHNOLOGY MARKETING MIX EVALUATION AND CRITICISM OVERVIEW OF THE CURRENT MARKETING APPROACH ASSESSMENT OF THE MARKETING MIX EFFECT ACTIVITY- REDESIGN PRODUCT PRICE PLACE PROMOTION PHYSICAL TEST PROCESS PEOPLE IMPLEMENTATION RECOMMENDATION A BUDGET RECONSIDERATION FOR A NEW DEVELOPMENT RECOMMENDATION TWO ROYALTY CUSTOMERS INSTITUTION RECOMMENDATION THREE FEATURES IACTIONREFERENCE IntroductionThe Australian hardware industry has shown considerable growth over the past 10 years. The market sees cash turnover of $22 billion per year. Bunnings owned by wesdfarmers is the market leader. Launched in 2011, Masters is the home improvement big box retail offering, offering Australian consumers a never-before-seen retail experience. Each store offers over 35,000 different product lines, from outdoor furniture to a completely new bathroom with all the accessories. In 2012 Masters launched its online store, becoming the first Australian hardware and DIY store to allow customers to shop online. Masters Home Improvement is the biggest and most exciting thing to happen in the home improvement industry in Australia. This report is an analysis of Masters' current marketing approach with respect to the 7 Ps of marketing, understanding the macro and micro environmental trends affecting the company and redesigning the marketing approach based on the shortcomings of the current applied by Masters.Marketing Analysis1. Marketing Environment Analysis – Micro TrendsMicro Environment- Mic...... middle of paper ...... Retrieved May 15, 2014 from: http://www.woolworthslimited.com.au/page/Who_We_Are/ Our_Brands/Masters_Home_Improvement / Retrieved May 15, 2014, from: http://miy.masters.com.au/aboutTaylor∗, S.A. (1994). An evaluation of the relationship between service quality and customer satisfaction in shaping consumers' purchase intentions. Journal of Retailing, Volume 70, (issue 2). To Keep Your Customers, Keep It Simple, Patrick Spenner and Karen Freeman, retrieved May 20, 2014, from: http://hbr.org/2012/05/to-keep-your -customers-keep-it-simple/ar/ 1What is the economic environment in the business world? - Definition, Importance and Factors, Shawn Grimsley, retrieved May 20, 2014, from: http://education-portal.com/academy/lesson/what-is-the-economic-environment-in-business-definition-importance-factors . html#lesson