The marketing mix strategy of the company

MARKETING MANAGEMENT
AND
DIGITAL COMMUNICATION

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Executive Summary
This report is going to discuss the marketing environment for the mirror as a product of the
Curiouser product Inc. in which it was found that economic environment of the world is not
favouring international expansions. The internal analysis suggests that the strength of the
company is in its innovation quality, weakness include lesser market recognition; they have
opportunities in the international markets while they face threats in the form of stealing of
product idea by bigger firms. They are focusing on youngsters that are health conscious and
hence their marketing mix is also designed in such a manner that it increases the visibility of
their product in the market. An analysis of the problems which they will face when they will
enter into Australian market is also provided in the report. Some of the problems illustrated
were Lack of awareness, Pricing, Distribution, Cost of establishment and Lack of presence in
the Australian market. The marketing mix strategy of the company has also been provided in
the report. Some of the control measures that will be implemented in forming of the team that
looks into each and every aspect of the campaign have been described. The budget was also
provided where they need to invest more on digital marketing strategies.

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Contents
Executive Summary..................................................................................................... 1
INTRODUCTION....................................................................................................... 3
Situational analysis...................................................................................................... 3
PESTLE analysis..................................................................................................... 3
SWOT analysis....................................................................................................... 4
Competitor’s analysis................................................................................................ 5
Customer analysis....................................................................................................... 6
Segmentation and targeting......................................................................................... 6
Desired positioning.................................................................................................. 7
Problem statement....................................................................................................... 7
Objectives................................................................................................................. 8
Marketing strategy...................................................................................................... 8
Evaluation................................................................................................................. 9
Effectiveness measures.............................................................................................. 9
Control measures................................................................................................... 10
Contingency actions............................................................................................... 10
Budget Allocation..................................................................................................... 10
Conclusion.............................................................................................................. 10
References.............................................................................................................. 12

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INTRODUCTION
Innovation plays an important role in gaining success in the modern day business. It is due to
this companies are investing higher on the innovations. Before doing any innovation it is
critical for the management to analyse the situation that are present in the form of business
environment so as to understand that whether the product will be feasible and successful in
the society or not. It is also critical for the organisations to understand the actual type of
customers in the market and their demands (Westwood, 2013). In order to make sure that it is
critical to define objectives and plan out strategies accordingly so as to achieve those
objectives. Marketing campaign needs to be evaluated efficiently and budgets should be
allocated appropriately so as to ensure that all the strategies are made accordingly. A
curiouser product Inc. is a new company that is the industry of leisure products from United
States. It was founded in the year 2016 (Bloomberg, 2020). This Company is bringing
mirrors that stores personalised information of the people that come in front of it. This
product motivates people to work out and it can be placed anywhere in the home just few
inches away from the wall. This mirror through the help of accessories gives the vital
information about the body while working out. This report will describe the market plan for
the Mirror that is capable of converting home into the personalised gym.
Situational analysis
In order to understand that whether the situation for the product is apt or not, it is critical to
analyse the environment that is surrounding the company.
PESTLE analysis
In order to analyse about the external environment, the use of PESTLE analysis can be highly
critical.
 Political: There are political changes that can be noticed in every part of the world and
this change in the political environment has impact on the policies made by the
governments (Hollensen, 2010). Increase in the trade war and trade sanctions between
different countries over each other have impact on the business of the firms. At the
same time there is also increase in the taxes on the innovative and luxury products
hence it has impact on the strategies made by the government.