Marketing Analysis of Indiegogo's Music Lens Campaign

This marketing analysis explores the Indiegogo's Music Lens campaign, including company analysis, environmental analysis, competitive analysis, customer analysis, SWOT and TOWS analysis, problem statement, target market identification, objectives, and marketing mix strategy.

Marketing

Marketing 1
Contents
Introduction................................................................................................................................2
Situation Analysis......................................................................................................................2
Company analysis...................................................................................................................2
Environmental analysis..............................................................................................................2
PESTEL Analysis...................................................................................................................2
Competitive analysis..............................................................................................................3
Customer analysis...................................................................................................................3
SWOT and TOWS analysis....................................................................................................4
Problem statement......................................................................................................................4
Target market identification.......................................................................................................4
Objectives...................................................................................................................................5
Marketing mix strategy..............................................................................................................5

Marketing 2
Introduction
Indiegogo is a US based company. The company has conducted low key market activities on
the constant basis for promoting products. Indiegogo is a US based company so the
awareness of the company along with its campaign is growing. The music lens campaign has
opportunity to update customers as they can listen music from the sunglasses.
The company is in the growth stage of the product life cycle and looking for the marketing
opportunities to contribute in expansion. Music lens are powered by the advanced bone
conduction audio glasses. It provides access to the music, radio and calls through the glasses.
Situation Analysis
Company analysis
Indiegogo is a global crowd funding website. It was established in 2006 and having
headquarter at San Francisco, California. It is one of the kinds of website offering crowd
offering. It enables people to importune funds for an idea, charity and start up. This site offers
a reward based system to investors and customers who are willing in assisting to fund a
project (Garza Jr, 2017). They can donate and receive a gift other than the equity stake in the
company.
Indiegogo is used extensively by all kind of entrepreneurs. The company raise dollars for the
crowd funding projects. The company do not publically release its performance data. It has
collectively 44,000 crowd funding campaigns. This report includes the music lens campaign
of Indiegogo (Fraade-Blanar & Glazer, 2017). Music lens is the unique smart glass which
speaks to music lovers, trendsetters and the persons busy with their lifestyle. A person can
listen to the music, tune into the radio and make phone calls without even putting anything in
the ears.
Environmental analysis
PESTEL Analysis
Political factors: The political condition is stable which allows investors to feel assured in
their purchases. The government addresses the political changes taking place in the country.

Marketing 3
Australia is linked to several organizations like OECD, WTO, Commonwealth of Nations and
G20.
Economic factors: It is the good sign that the economy is growing at a good rate. The
country remains a low cost location for the foreign investors. The problem faced by the
companies is in paying taxes which is 30%. It does not affect to a business if it is having
turnover less than $25 million. It is because the company will qualify for the lower tax
bracket (FitzPatrick, 2017).
Social factors: Australia is divided into three social classes identified as working, middle and
upper class. The classes are also recognised by the mannerisms, sports participation and
entertainment.
Technological factors: Australia is known to be active in the technological innovations. The
country adopts technology on the constant basis and implements in the organizations (Findlay
& Garnaut, 2017).
Legal factors: The country is having fair trading laws, consumer laws and competition laws.
The legal system of the country ensures fair trading for the customers and businesses.
Environmental factors: Australia is known for the brilliant biodiversity. The climate
challenges are faced in the country (Holmes, et al. 2019).
Competitive analysis
Music lens offers the music devices of the next generations and the devices are highly
convenient, safe, trendy and are the healthy hearing choice. There are no widely used smart
glasses in the market. In such a scenario, Music lens can be the first affordable smart glasses
due to its practical uses (Epstein, 2017).
Major competitors
Fielmann
Operates and invests in optical business globally
The company was established in 1972
Healthcare, retail, accessories and eyewear optics
Vera Bradley

Marketing 4
The company produces cotton quilted handbags, accessories, papers and gift items
Vera Bradley was founded in 1982
The retail, accessories, eyewear, fashion gifts are offered
Chums
The company offers a selection of products mainly for the outdoor activities
Chums was founded in 2002
The retail, accessories, clothing, e-commerce and eyewear
Mister Spex
Mister is an online eyewear retailer
The company was established in 2007
Offerings-retail eyewear
Customer analysis
The customers prefer to use sunglasses on the regular basis tend to use the glasses offered by
the Music lens. The customers can save themselves from the sunlight along with other leisure
activities like music listening, attend phone calls and tune into the radio. These sunglasses
can even get customised with the prescription lenses or florescent for the nightclubbing
(Brown, Boon & Pitt, 2017).
SWOT and TOWS analysis
Strength
 The innovative concept is used by the company to introduce sunglasses enabled with
music, GPS , call features and more.
 Three options are available by the company, modern, vogue and geek.
Weakness
 The devices work for just 9 hours.
 The devices are highly priced and considered to be out of reach for the middle class
customers.
Opportunities
 The music lens can expand in more countries.

Marketing 5
 The company can even increase its distribution channels for the sales (Walach,
2016).
Threats
 The competitor companies provide innovative features which can present threat to the
company.
 Charging has to be done after a while.
Problem statement
The music lens sunglasses can face certain problems at the time of introducing in the
Australian market, 2019. There is lack of awareness in the market regarding these sunglasses.
So, the company is required to do promotions on the large scale (Edgington, 2018). There are
certain people who do not like to wear sunglasses. Such segment can remain uncover by the
company. The prices to be charged by the company are going to be high due to the
implementation of the innovative technology. So the company can face problem in attaining
sales in the initial period. As soon as people will become aware of the uses of this music lens
sunglasses, profit can be attained (Copeland, 2015).
Target market identification
The target market of the company mainly comprises customers of the young age who
aggressively use sunglasses and like to try new gadgets on the regular basis. The company
can promote its products through the website which defines the features of the product
(Huhtamäki, et al. 2015). The company can even use traditional methods in the Australian
market such as magazines, TV advertisements, outlets and more. Add on, Indiegogo makes
efforts to a simple and all-purpose crowd funding platform required to raise funds. The
campaigns can be generated in a few minutes and a person raise funds on the site for the
personal use, entrepreneurial and creative projects (DelCiampo, 2016).
Objectives
Marketing objectives
 Music lens aim to increase product awareness by 25% in 2019.

Marketing 6
 It is the objective Music lens to hold a favourable attitude towards the company and
reach by at least 50% of the intended target market with the brand name (Dansereau,
2018).
Financial objectives
 To attain 24% growth in the Music lens’s customer base by the end of 2019.
 Increase sales of sunglasses by 15% following first year through online and retain
sales.
 To increase number of investors in Australia through the promotional programmes.
The company is likely to have 500 customers as a base (Kavitha & Baag, 2018).
Marketing mix strategy
Product
Music lens are the advanced bone conduction audio glasses. These glasses are powered
by the advanced bone conduction technology. The smart glasses provided by Music
Lens are unique and are the trend setters (Tolun & Gürler, 2017).
The uniqueness of the sunglasses is bone conduction audio with the enhanced bass.
There is 4GB of the offline storage available. The device is enabled by the Bluetooth 5.0.
It is having touch controls and wear detection. The device can work for 9 hours
continuously. The prescription lenses are also made available by the company
(Dahlhausen, et al. 2016).

Marketing 7
Price
Music lens provides smart glasses in the market enabled with several practical uses. The
company offers next generation musical devices and are super convenient, safe, trendy and
healthy hearing choice (Stadler, 2015).
The types of smart glasses and the prices charges by the company are:
Modern: The urban model trends entirely stand out with modern design frame (Pessoto,
2015). The glasses are enabled with 98% anti UV and IR, fashionable and healthy. The
customers can enjoy smart technology. The prices charged by the modern lens are $189 USD.
Vogue: The vogue eye wears are elegant with the golden design. It keeps the outlay stay
vogue. The glasses are protected with 98% anti UV and IR. These are the fashionable and
healthy wears. The prices charged by the company are $169 USD.
Geek: These are the 30g ultra-light frame with the minimalistic style. The front frame of the
sunglasses looks the same as the normal optical glasses. A person can enjoy the music and
hear the things taking place around the world. The prices of these sunglasses are $129 USD.
Place

Marketing 8
There is no extensively distribution network. The company enables various channels to
allow products to be purchased by the products globally. The company can use website
and Amazon along with the retail shops (Sawant, 2018).
Promotion
The promotional strategy of the company focuses on communicating high quality,
exceptional and inspiring nature of the product. The company can conduct promotional
activities through the campaigns. The collaborative advertising can be used along with the
catalogue advertising (Solomon & Wash, 2016).

Marketing 9
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Marketing 10
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