Marketing Plan for Nura: Expanding Business in Australia and Globally

Running head: MARKETING PLAN
MARKETING PLAN
Name of the Student:
Name of the University:
Author Note:

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1 Introduction:
The aim of this report is to discuss the marketing plan for the small business company
in Australia namely Nura. That is the producer of the consumer electronics. This company if
aims to expand in the global business need to be more efficient in the operation as well as the
particular understanding of the market so that it can develop a plan. On the basis of this plan
the company will be able to able to reach a large number of customers with ease by bringing
some changes in the production and service systems.
1.1 Authorisation
1.2 Limitations:
As student is not an authorised stakeholder of the Nura Company, therefore,
authorised information about the company has not been found. Moreover, the preparation of
this report is question of length requirements and time availability therefore, detailed
information of the market was a limitation.
1.3 Purpose and scope:
This report will be providing a detailed understanding of the company and industry
background, situation analysis, SWOT analysis, marketing goal and objectives, marketing
strategy, financial analysis, marketing implementation. The report will be concluded with
evaluation and control.
2 Company and Industry Background:
Nura offers personalised sound technology through headphones based on the hearing
sensitivities of the customers. The technology used by this company uses differentiating
frequencies by monitoring otoacoustic emmisions. The hearing measurement process take

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one to two minutes to adapt the frequency responses to the hearing of the users. This allows
the users to hear more detail while listening to music. The debut product of Nura was
launched on 2017 Octobers that received positive review in the press. In 2018, the company
became the only electronic instruments manufacturing company in Australia that added
active noise cancellation program to the headphone through software update. Later the
company has released a free firmware update for Nuraphone in 2018 which enabled features
like audio pass through, active noise cancellation, enhanced voice calls and button press
(Nuraphone.com 2019). This company operates in the electronics industry of Australia
specifically in the audio visual electronic instruments manufacturing industry. As there is a
limited number of companies operating in this particular industry, hence the competition
level is not so high but the industry experienced 8% growth annually in the last five years.
Nura has been awarded with many reputed prizes like CES innovation award of 2018, Red
Dot Award, Good design award and IDEA. Currant total funding of Nura is 28.2 Million
Dollar. The employee growth has been recorded 9% increase till May 2019 (Nuraphone.com
2019). It has a strong social media and online presence giving it extra leverage over the
competitors.
2.1 Organisational Mission and Values
The company is a very small organisation with only 64 employees working for three
years hence does not have a strong organostions vision and mission statement but the action
of this company, it can be understood that Nura aims to reach the passionate group of music
lovers that include sound engineers, scientists and the creative music composers for
delivering perfect sound so that every individual are allowed to listen to music in full colour.

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3 Situation Analysis
3.1 The Internal Environment:
Nura is a small start-up business initial by Kyle Slater, Luke Campbell and Dragan
Petrovic in 2015 entering the market of Australia with no such pressure of aggressive
competitors offering the personalised headphones. The products are mainly available online
as the company does not have any brick and mortar shop from where the customers can buy
or try the products of their choice. The company has investors like Blackbird Ventures
(Australia), AirTree Ventures, Hax, SOSV and Qualgro VC (Stinson 2019). The chief aim of
the company remains in the innovation process to culture of the attention of the customers
both existing as well as new and expand business in other developed nations where the
demand of such products are high. The key resources are limited to the capital, time and
expertise based on which the company will be keep on researching various factors of sound
engineering and bring product variation. Along with the headphones, the company has started
to focus on the production of backstage sound products used for sound mixing and
composure.
3.2 The Customers Environment:
The support from customers helps the companies to grow with a short period of time.
In case of Nura, the business is completely dependent upon the positive feedback from the
customers detailing the need of the target market. The anticipated changes in the products of
the company has been manipulated by the demand in the market. The target market of this
company is mainly the young generation of Australia who have a high standard of living and
demand for high end sound system (Kreutzer 2019). With the continuous innovation of the
products matching technological advancement in the sound engineering field and their
complexity, the serviceability of the products are low hence the customer dependency on the