Marketing Strategy and Analysis

This assignment delves into the realm of marketing strategy and analysis, encompassing key concepts like competitor analysis, market entry modes, and the impact of corporate communication. It examines real-world examples from diverse sectors, including cosmetics and technology, highlighting the application of various marketing tools and techniques. Students are expected to demonstrate their understanding of strategic marketing principles and their ability to analyze case studies within a dynamic business environment.

Running Head: Digital Communication
Lagos company
Marketing Management and Digital Communication

Digital Communication 1
Executive Summary
Lagos is an American jewellery company founded in 1977 by Steven Lagos. This brand is
known for making craftsmanship jewellery and for textured jewellery making. Its headquarter is
situated in Pennsylvania and with the same, they also operate from New York and Bangkok.
Under this report, Lagos Company is planning to introduce their new product in the Australian
market. The caviar gold collection which is made of 18k gold is the unique product launched by
the Lagos in the Australian market. The Australian market was selected for the introduction of
this unique product due to the emerging demand for the antique and craftsman jewellery in
recent years. To promote the collection of 18k gold series in the Australian market, various
techniques will be used in this report. The first phase of the report will describe the SWOT
analysis, competitive analysis, mission of Lagos Company, and the marketing as well as
financial objectives. Furthermore, the second phase of this report will discuss the marketing mix
techniques for promotion of the product as well as the digital marketing plan will be discussed.
After these points, action plan and the implementation and control measures will be reviewed for
making the marketing plan more effective.

Digital Communication 2
Table of Contents
Introduction......................................................................................................................................3
SWOT Analysis...............................................................................................................................4
Competitive Analysis.......................................................................................................................6
Mission of Lagos Company.............................................................................................................7
Marketing objectives.......................................................................................................................8
Financial Objectives........................................................................................................................8
Marketing mix.................................................................................................................................9
Digital marketing communication plan...........................................................................................9
Action Plan....................................................................................................................................10
Implementation & Control Plan.....................................................................................................11
Conclusion.....................................................................................................................................12
References......................................................................................................................................13

Digital Communication 3
Introduction
Lagos Company has developed their brand image in the jewellery industry through delivering
unique and antique items in the international market. Under this report, Lagos Company has
decided to introduce their new range of jewellery which is made of 18k gold in Australian
market. 18K gold range of jewellery includes bracelets, necklaces, earrings, etc. The unique and
attractive characteristics of these products are made up of black ceramic and gold and apart from
this; these products are outcomes of goldsmithing. Along with these features, the new range of
products is user-friendly as they are easily removable. This range of jewellery will define the
user’s personality. In terms of explaining these characteristics to the public, organization needs
to develop a unique marketing plan so that their attractive features could be promoted in an
adequate manner with the selected techniques of the marketing plan. Apart from this, Australian
public’s demand is increasing regularly in terms of craftsmanship jewellery as well as for the
caviar jewellery. Hence, organization does not need to put much effort in order to promote their
new range of jewellery items. Infect they just need to promote the features of the products in an
adequate manner so that people could get attracted and find uniqueness in them.

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SWOT Analysis
Strengths
 Primary strength for the Lagos Company will be their brand name as they are involved in
making unique range of jewellery collection since 1977. Launching of the bracelets,
necklaces, and earrings in caviar 18k gold collection will help them to enhance their
market image across the globe (Mohammed, Rashid & Tahir, 2014).
 Jewellery manufactured by Lagos Company is easily affordable for US and Australian
people.
 As they are involved in the production of jewellery since a very long time, hence;
product’s quality cannot be doubted as they have adopted the strategy of implementing
consumer’s feedbacks in the production of the new range of products.
 Due to huge brand name in the jewellery industry, much effort for the promotion of the
unique range of jewellery items is not required (Klein, 2016).
 The combination of unique and attractive designs and the quality of the jewellery cannot
be copied because it is due to the talent of the designers available with the company.
Weaknesses
 Designers of the company have unique talent of manufacturing caviar and craftsmanship
jewellery and due to this talent, they demand high payments which lead to increase in
the prices of the product.
 Lagos Company is launching their products in Australian market with reviewing the
success of their products in US market and this assumption can extract negative results.

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 Target audience will be less as only certain group of people likes craftsmanship and
caviar range of jewellery (Kim & Hyun, 2011).
 With the effect of company’s expansion in the Australian market, cost of operations will
be increased due to import of materials, labour, designers, etc. from US. Hence, it may
affect the assumptions of the organization in terms of increasing revenues.
Opportunities
 Due to the design and the features of the unique jewellery collection, Lagos Company
has a great chance to establish their market image in the Australian market.
 Purchasing power of Australian people and their interest in the type of jewellery
manufactured by Lagos Company could result in the great success factor.
Threats
 Existing brands of Australia involved in the manufacturing of the same type of jewellery
could be big threat for the Lagos Company.
 Lagos Company does not sell its products through online websites, hence; it could result
in major threat from the organization because most of the people prefer shopping through
E-commerce websites in Australia.
 Aggressive promotional and advertisement strategies used by Australian Diamond
Company and Gemcraft Australia will be the major threat factor because these will be the
primary competitors of Lagos Company (Johnston & Bate, 2013).

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Competitive Analysis
Australian Diamond Company and Gemcraft Australia are the two major organizations which are
involved in production and distribution of precious stones, jewellery, and other unique items.
Both of these are operating their functionalities from Australia but they have developed their
market presence in other parts of the globe too. They are known for delivering qualitative and
reliable jewellery with authorisation certificate, hence; this strengthens the consumer's trust over
the organizations. In terms of attaining adequate competitive advantage in the Australian market,
they need to promote the attractive and unique features involved in the new range of jewellery
being introduced in the Australian market. In terms of promoting the new range of jewellery in
the Australian market, they need to analyse the strategies adopted by their competitors in terms
of promotion and advertisement. After obtaining the results, Lagos Company needs to develop
distinctive strategies through which organization can build their unique image in the Australian
market and those strategies should be capable enough so that organization can attain the adequate
competitive advantage in the Australian market (Helms & Nixon, 2010).

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Mission of Lagos Company
Lagos Company has a great brand value across the globe in terms of delivering adequate
qualitative and reliable jewellery items. They basically deal in craftsmanship and caviar type of
jewellery items which are precious as well as they are included in the unique type of jewellery
items. Every individual does not like this type jewellery and due to specific group of people
available to purchase this type of jewellery, organization has used its brand value that they have
built up since 1977. They have made their mission and vision clear and it describes the clear
motive of Lagos Company that they want to expand their business in the other parts of the world
too (Gregor & Hevner, 2013).
In relevance with the expansion of the business, organization has targeted the Australian market
and this market is selected with the results obtained from the market research analysis conducted
in the Australian market. Lagos Company got the positive response in relevance with the new
range of jewellery items launched by the organization (Greer & Ferguson, 2011).

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Marketing objectives
 Attaining targets as expected;
 Increase in the customers ‘base;
 Gaining competitive advantage as well as developing distinctive image in the Australian
market.
Financial Objectives
 Enhancement in the revenues with the increase in the demand for the unique jewellery in
the target market;
 Attaining adequate growth in from the financial perceptive;
 Setting adequate prices in order to compete with its competitors (Fischer, et. al., 2011).

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Marketing mix
Under this technique, organization needs to promote the special characteristics of the about to be
launched products in the target market. Marketing mix technique focuses on the main
components of the product such as price of the product, place from which it will reach to its
customers, product’s characteristics and the promotion techniques which will be used to promote
the product in the target market. Following are the description of marketing mix components:
 Price: In order to enrich the demand of the newly launched products in the target market,
the basic thing which can attract the target audience is the price of the product. But being
the part of the expensive things, price of the 18k gold caviar jewellery range of product's
price cannot be reduced but adequate pricing strategy could be adopted so that number of
consumer’s wishes to purchase the bracelets, necklaces, and earrings range introduced in
the Australian market with antique designs and attractive features. Hence, the
expensiveness of the product will be its attractive feature (Czepiel & Kerin, 2012).
 Product: In terms of describing the uniqueness of the new range of jewellery collection
launched by the Lagos Company in the Australian market, these products are user-
friendly i.e. it can be easily removable as well as these are not delicate as other jewellery
products are. Apart from this, 18k gold jewellery range of products launched by Lagos
Company has various traditional items, as well as items for all age group audience, are
also available under this category (Cornelissen & Cornelissen, 2017).
 Place: The major challenge for the Lagos Company will be searching for adequate and
centralised location to set up their store. Setting up the store at the centralised location of

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the target market will provide the facility to the consumers to approach to the store easily
(Aaker, 2010).
 Promotion: Promotional techniques for the Lagos Company will be unique and
attractive enough to attract the consumers towards the new range of products launched in
the Australian market. As, Lagos Company has adequate goodwill in jewellery industry,
hence; they do not need to put much effort. Infect they can use their existing promotional
strategies which are used to promote their products in the international market (Brandt,
Cazzaniga & Hann, 2011).
Digital marketing communication plan
Nowadays, organization has adopted this strategy as the primary part of the marketing plan.
Under this strategy, organization uses their official website, social media platforms, mobile
applications, etc. Through these strategies, Lagos Company will be able to promote their unique
and user-friendly jewellery items in the target market. As per the recent trends in the market,
digital platforms have been a great success factor for the organization's expansion, launching
new products, etc. in the targeted market (Armstrong, et. al., 2015).

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Action Plan
 Attractive designs in terms of 18k gold items such as bracelets, necklaces and the
earrings will be the primary attraction part for Lagos Company in the target market.
 Introduction of demanded range of unique jewellery items by the Australian people
indicates the increase in the consumer’s base.
 Developing outlet of the company at the center of the target market.
 The new range and the existing range of the jewellery items will only be available with
the authorised stores of the organization. Other jewellery shops, retailers, distributors will
not be authorised to sell those items in the target market or in any other market.
 Expensive price of the new range of products will be the most attractive feature as these
are the part of precious metals (Angeloska-Dichovska & Mirchevska, 2017).
 Apart from these strategies, adequate and effective set of techniques will be included in
the marketing plan of Lagos Company to introduce the 18k gold items introduced in the
target market (Akaka, Vargo & Lusch, 2013).

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Implementation & Control Plan
For evaluating the effectiveness of the above techniques used in the marketing plan of Lagos
Company for introducing the new range of products in the target market, appropriate set of
methods will be used by the companies’ management. This process is crucial in order to analyse
the error present in the strategies used in the marketing plan as well as to fix those errors for
making the marketing plan more effective and crucial. These measures will also be reviewed on
the basis of goals and the objectives set up by the management to enhance the growth of the
organization (Ang, Benischke & Doh, 2015).

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Conclusion
From the above discussion, it can be concluded that the above strategies involved in the
marketing plan for promoting the new range of jewellery in the target market are the best and
suitable for Lagos Company. These techniques are included in the marketing plan with the view
to enhance the demand for the products to be launched in the target market. Thus, this marketing
plan will be proved as the effective and efficient method for enhancing the growth of the Lagos
Company.

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References
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Management, Vol. 17 (5), Pp. 315.
Akaka, M. A., Vargo, S. L., & Lusch, R. F. (2013). The Complexity Of Context: A Service
Ecosystems Approach For International Marketing. Journal Of Marketing
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Ang, S. H., Benischke, M. H., & Doh, J. P. (2015). The Interactions Of Institutions On
Foreign Market Entry Mode. Strategic Management Journal, 36(10), 1536-1553.
Angeloska-Dichovska, M., & Mirchevska, T. P. (2017). Challenges Of The Company In The
New Economy And Development Of E-Business Strategy. Strategic Management, 22(2),
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Armstrong, G., Kotler, P., Harker, M. And Brennan, R. (2015). Marketing: An Introduction.
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Cornelissen, J., & Cornelissen, J. P. (2017). Corporate Communication: A Guide To Theory
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Czepiel, J. A., & Kerin, R. A. (2012). Competitor Analysis. Venkatesh Shankar And Gregory
S. Carpenter, Handbook Of Marketing Strategy, Edward Elgar, Pp. 41-57.
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Marketing Management, Vol. 40 (3), Pp. 424-438.

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Klein, D. B. (2016). Unfolding The Allegory Behind Market Communication And Social
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