Marketing Management and Digital Communications
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Added on 2020-03-16
Marketing Management and Digital Communications
Added on 2020-03-16
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Running head: MARKETING MANEGEMENT AND DIGITAL COMMUNICATIONS Marketing Management and Digital Communications Name of the StudentName of the UniversityAuthor Notes
MARKETING MANEGEMENT AND DIGITAL COMMUNICATIONS1Table of ContentsIntroduction......................................................................................................................................2Steps in Marketing Plan...................................................................................................................2Swot and Competitor Analysis........................................................................................................3Marketing and Financial Objectives................................................................................................5Action program to achieve the marketing and financial objectives................................................7Implementation and Control of marketing Plan..............................................................................8Conclusion.......................................................................................................................................9Reference.......................................................................................................................................10
MARKETING MANEGEMENT AND DIGITAL COMMUNICATIONS2IntroductionThe purpose of this report is to prepare an effective business marketing plan for theEverysight Raptor Augmented Reality (AR) Glasses, which is one of the newly introducedtechnological gadget dependent upon the principles of virtual reality. Report will highlight uponthe Features which are associated with the new technological gadget along with its importancethat the user can enjoy. It is important to mention that Augmented reality glass, currently do nothave huge popularity compared to many other technological gadgets, as less number of peopleare aware of its presence and features that are associated with the device. The marketing planwill help to increase Awareness of the technological lover by providing detailed informationrelated to the AR glass. The current marketing plan will conduct the SWOT analysis, along with examining thecompetitive environment of the product. It is important to fix upon the marketing and financialobjectives, which will be reflected upon the marketing plan. Special focus will be given up onthe digital communication, which will be a part of the promotional campaign for the newlylaunched product. The report will end by providing the technique of marketing control process,which is necessary for monitoring the overall business performance of the Augmented realityglass. Steps in Marketing Plan Deciding among the steps in the marketing plan is an important part of the salesprocedure of Everysight Raptor AR Glasses. As mentioned by Manorek et al., (2016), in theprimary step it is necessary to provide detailed description of the product along with its features
MARKETING MANEGEMENT AND DIGITAL COMMUNICATIONS3and advantages. This is the primary step due to the fact that the detail information of the productwill have the target customer groups to understand its significance and importance in the dailylife. This is an important step in making the marketing plan as it is in the process of product andbrand identification. The following step it is important for the company to decide upon the targetaudience. Due to the fact that this type of gadget is yet to gain popularity, currently the targetcustomer for the marketing plan will be limited to small group, which will include only highgadget freaks individuals mainly belonging to the recharge section of the society. The followingpath the company will have to decide upon the steps of implementing and executing themarketing plan and gain competitive advantage in the respective domain (Paik & Zhu, 2013).Special promotional event will be held by Everysight Raptor Company, which can help them tohighlight upon the importance of AR glasses and its significance. It is also important to decideupon the overall budget of the marketing plan before implementing the same. Due to the fact thatthe target audience for the AR glasses is limited to a small group of audience, it will not benecessary for the company to invest huge amount in the marketing plan. Swot and Competitor Analysis The SWOT analysis tool is an essential part of the marketing planning, which helps anorganisation to decide upon their internal strengths and weaknesses along with the threats andopportunities that exist in the market (Babin & Zikmund, 2015).The major strength for the Everysight Raptor is due to the fact that they are able toprovide high quality product and are able to incorporate the latest technological design, therebyincorporating smart features. The major strength of their Augmented reality glass is due to thefact that they are able to incorporate features of GPS, Bluetooth, Wi-Fi and many other forms of
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