Marketing Plan for Musiclens

This report presents a detailed marketing plan for Musiclens, a technology company aiming to introduce its Bone Conduction Audio Glasses in the Australian market. The plan includes a situational analysis, SWOT and PESTLE analysis, target market identification, SMART objectives, marketing mix, budget allocation, and implementation plan. It aims to guide Musiclens in achieving successful market penetration and brand recognition in Australia.

Marketing plan

EXECUTIVE SUMMARY
Marketing plan is a formal structure, which involves various marketing concepts along
with policies that are required to formulate a kind of policies in order to built strategic outcomes
in given period of time. This involves making a productive structure which includes tools or
techniques that are mainly required to excess to internal and external capabilities of the firm.
This report has covered various concepts or theories such as SWOT, pestle which has revealed
on competitive position of a business firm in a Australia. Also, marketing plan of the report has
put its focus on understanding of a problem statement and identification of a problem or issue
which business entity can faced in a given region. Also, report has also put its focus on
implementation and campaign evaluation of a marketing plan for a given organisation. Along
with this, competitive and customer analysis has also been covered or measured to gather
possible outcomes out of a given report or structure. In contrary, report has also included
marketing mix, smart objectives and budget allocation to identify valuable resources that are
required to make accomplishing defined goals or objectives in given point of time. Overall,
report has been carried on identifying opportunities for a business firm to introduce their product
or service in specific business environment.

Table of Contents
INTRODUCTION...........................................................................................................................3
Situational analysis..........................................................................................................................3
a) Company analysis...................................................................................................................3
b) Pestle analysis.........................................................................................................................3
c) Competitive analysis...............................................................................................................5
d) Customer analysis...................................................................................................................6
e) SWOT and TOWS analysis....................................................................................................6
Problem statement: ..........................................................................................................................7
Target Market Identification: ..........................................................................................................8
Objectives........................................................................................................................................9
Marketing mix:...............................................................................................................................10
Budget allocation: .........................................................................................................................11
Implementation and Campaign Evaluation....................................................................................12
CONCLSUION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Marketing pan is a formal report that helps in outlines own marketing strategy for a
coming period of time such a quarterly, weekly or monthly. Marketing plan will include: an
overview of the business marketing and advertising goals. A description of your business current
marketing position. In current period of time, marketing plan is used to convey strategy which is
important for business firm to build profit at a higher edge (Kozlenkova and et. al., 2014). This
report will cover on Musiclens which is an unique smart-glasses that speaks to music lover,
trendsetters and those who are busy to engages in the lifestyles. The purpose of this report is to
introduce unique product's of a Musiclens in the Australian market in 2019. Also, purpose is to
know ho product is suitable to be launch in the Australian market. There will be a
comprehensive analysis along with the discussion on various theories, models etc. Also, report
will also put its focus on company analysis, Pestle analysis, competitive analysis, customer
analysis, SWOT analysis etc. Also, problem statement, SMART objectives will also be set and
marketing mix. Lastly, this report will also put its major focus on preparation of the budget
allocation along with implementation and evaluation of a marketing plan.
Situational analysis
a) Company analysis
Musiclens is a technology company which helps in providing musical devices, which also
smart glasses. This business firm is headquartered in the China. The companies main products ar
comprises of music glasses and allows listen to music, radio tuning, answer phone calls and also
made GPS navigation sources (Jotwani, 2014). Main product of Musiclens is their bone-
conduction audio glasses with better efficiency and also quality assurance to their customer.
Musiclens, in the present have almost 6 million customer at one place and have potential to
acquire more customer in the different regions such as Australia or UK.
b) Pestle analysis
Pestle analysis is used to analyse and evaluate the current market conditions. With the
help of PESTEL analysis external market conditions and environment can be analysed in the
systematic and coordinated manner. As this analysis will be used to identify the strength and
weakness, so that better plans can be made the management of Music Lens. After conducting

proper PESTEL analysis organisation will be able to make better plans for the future course of
action. Various points related to PESTEL analysis of Music Lens is discussed below-
Political Factor: These factors are related with the laws and rules which are imposed by
the government of a particular country. The working of Music Lens in Australia will largely
depend upon the political stability of the country. With the help of proper policies imposed by
the government management of Music Lens will be able to make better plans. Since the
organisation is planning to launch innovative product in the Australian market, so the chances of
restrictions will also be decreased (Constantinides, 2014) Music Lens will be able to make better
plans for increasing its market share in the best possible manner, as the political factor might be
in favour of the organisation.
Economic Factor: These factors generally include interest rate, inflation and economic
growth rate of the country. Economic factor can directly affect the working of Music Lens if the
management is unable to make proper plans for controlling and managing the economic factor. It
is quite essential for Music Lens to make better plans before launching its product in the new
market. The demand of the product will largely depend upon the income level of the individuals.
The population of Australia will be able to easily afford the product which will directly benefit
the organisation, as its profitability will be directly increased.
Social factor: These factors are related to the social values and beliefs of the market and
society in which business activities will be operated. Australia is considered as one of the
multicultural country in the world. So it would not be difficult for Music Lens to establish its
business in various parts of the country (Katona, 2014). Bone conduction glasses will be easily
acceptable by the society because innovative product is in demand by the individuals. This will
help the organisation is increasing its profitability and sale in the systematic manner. As Music
Lens will introduce the product after analysing the need and demand of the market.
Technological factor: It is related to using proper and adequate technology for satisfying
the needs and demand of the customer's in the best possible manner. Latest technology can be
used for producing or manufacturing the product. Music Lens is planning to introduce Bone
conduction glasses in the Australian market. Since the product is made using latest technology
and innovative ideas, so chances of failure of product will be decreased. As the unique qualities
of Bone conduction glasses will be able to attract more and more customer's.

Environmental factor: This factor is related with the sustainability of various resources
which is used by the organisation in performing its business activities. The product of Music
Lens will be environment friendly product, as the product will reduce the chances of noise
pollution in the environment. The product will not cause much destruction to the environment
resources which will be one of the biggest advantage for the organisation.
Legal factor: These are related with the laws and regulations which can affect the
working of the organisation (Fine, 2017). It is very much necessary for Music Lens to make
plans after considering the laws and regulations which are imposed by the government of
Australia. If the organisation is not successful in doing this than its sale can be negatively
affected.
The above PESTEL analysis will help Music Lens in analysing the market conditions, as after
proper use of this analysis organisation will be able to make better plans for increasing the
market share and profitability in the systematic and coordinated manner.
c) Competitive analysis
Competitor Analysis- It is the plan which is used to analyse the strength and weakness
of the competitors in the systematic and coordinated manner. With the help of competitor
analysis better plans for the future course of action can be made by the management of Music
Lens. It is helpful in identifying the opportunities available in the market. As with the help of
these opportunities Music Lens will be able gain proper competitive position in the market for
longer period of time. Music Lens needs to make necessary changes in its plans and strategies, as
by doing this organisation will be able to attract more and more customer's within limited period
of time. There are very less organisations which are dealing with the same product in Australia,
so it is one of the biggest advantage for Music Lens (Saka, 2014). As the competition level will
not be very high. Bone conduction lens is the product which is made by using latest technologies,
so focusing on its unique qualities Music Lens will be able to attract more and more customer's.
Bone conduction glasses will help the organisation in increasing its market share and
profitability in the best possible manner. It is essential for Music Lens properly analyse the
strategies and plans of its competitors. As by doing this organisation will be able to decide
proper competitive strategy for the future. Competitors analysis will also help the organisation is
knowing pros and cons of Bone conduction glasses. After knowing this organisation will be able
to decide appropriate measures for establishing its business in the Australian market. The market

conditions are uncertain and also involves various kinds of risk, so proper competitive analysis
will help Music Lens in giving tough competition to its competitors.
d) Customer analysis
Customer of the Musiclens is mainly comprises of a huge number, in which location or
any other geographical measures varies. Musiclens have almost 6 million customer into location
of the china and have more expectancy to acquire new one in the Australian region. Buyer's of
the Musiclens are varies in number from kids to adults with ego connected to this product of
bone conduction glasses (Aremu, 2017). In this regard, Musiclens have a major opportunity to do
analysis actual potential of the firm to launch their products in the Australian market. Before
acquiring potential customer, Musiclens must do problem analysis or difficulties what Musiclens
can face in case if launching music glasses into the Australian market.
e) SWOT and TOWS analysis
SWOT analysis is comprises of Strength, Weaknesses, Opportunities and threats. As, it
helps to know internal capabilities or abilities of the business firm to get a complete information
on how long company[ will go long into the market and their ability to sell product at a major
level (Park and et. al., 2014). For Musiclens, SWOT analysis will helps to get current potentials
of the Musiclens to introduce their bone conduction glass in the Australian market. For purpose
of this marketing plan, the brief SWOT analysis is as follows:
Strength Weaknesses
The major strength of the Musiclens is unique
innovation in an audio enabled glasses to listen
music and audio's. Idea can be put on strength,
as it is new in market and customer' were into
look for such responses.
High cost will be weakness for Musiclens to
sell more in the Australian market, as income
level of an Australia people are high, but they
used to spent less on technology or technical
aspects. Hence, this will be challenging to
modulate their consumption pattern.
Opportunities Threat
Growing technology and role of an innovation
is the major opportunity for Musiclens to come
a benefited product in the market structure with
strong quality of lens and audio components in
Decreasing interest of the people in using
advanced glasses will be threat for this firm to
introduce their products in an Australian
market. Also, effects on a customer's health &

the glasses. Of-course, price of the Musiclens
is player of the game.
body will be threats for Musiclens to start and
also continue business functions.
TOWS analysis:
Ext/Internal Strength Weakness
Opportunities Musiclens can uses innovation such
as such as technological modulation
that will assist company to make
defined product to be introduces in
the Australian market place. Use of
an excess technology is a major
need here.
Musiclens have an opportunities to make
implement a defined price strategy to fix
what level of the cost a consumer is liable
to pay for buying musiclens glasses. In
this, Musiclens can use penetration price
to acquire initial customer's.
Threats With help of an innovations such as
safety measures & health equipment
Musiclens can overcome health case
impacts or effects on the human
body. Proper technology and kind of
an assurance is one necessity here.
For introducing Musiclens in Australian
market, effective pricing policies such as
penetration pricing, quality based tools
etc., can be put into references to make
product launch into an effective manner.
Problem statement:
Problem statement is a concise description of an issues which needs to be addressed or a
condition to be led improved upon. In every business situation, first condition is always solving a
problem is an understanding of a problem, which can be accompanied with support of a problem
statement (Rowley, 2014) In this assessment, where Musiclens is looking to introduce their
product of the Bone conduction glass with audio and radio enabled in Australian market. In that
situation, identify and analysis of problems which Musiclens can face includes lack of awareness
to people, buyer are no more interested in purchasing costly technology, irrespective of their
income level and pricing, if took in assumption, it will be 450 Australian dollar. These are some
of a competitive problem, which requires a boosting option or solution to be needed to overcome
specified issue or problems. If Musiclen would introduces in the Australian market, it will led

burden on firm to put more cost and adrenaline to overcome negative impact's instead of raising
business growth and outcomes. Also, the implication would be long or severe to deal with it.
Segregation of the problem is an essential stage to make correct strategy that will assist into
overcoming these problem in the effective manner. In contrary, distribution can also another
problem, if in case Musiclens will be imports from China directly, thus in that situation, it will
simply price and let customer's to be wait for their purchase decision.
In that situation, problem statement must be centric to under-defined strategy or what
action plan, this firm can take to get right solution of these problems.
Target Market Identification:
STP is a marketing concept, which is comprises of segmentation, targeting along with the
positioning. This concept is useful to find out customer suitability, base and techniques on how
and what level of the customer can be equipped (Holliman, 2017). This also helps to ascertain
how customer will be ascertained or originates to one measures for acquiring to benefits of
business profitability and also productivity at a higher point. In context of the Musiclens,
business firm have in look to reach to the customer by identifying on a basis of their age,
geographical factors and also basis of their income level. Also, a proper analysis of the customer
base is also required to rise suitability to sell more and more products. An analysis of the STP for
Musiclens are as follows:
Segmentation: This is a tool to locate customer's on the basis of demographics, geo-
graphics. Lifestyle and belief & values etc. For Musiclens, customer's will be segment on a basis
of lifestyle, purchase behaviour such as pattern and frequency of a buying. Thus, they will be
targeted accordingly to sell product to get profit raising for Musiclens. The segmentation will be
done on basis of:
Geographical: As, Musiclens is introducing their product in Australian, so in that case,
urban people has been located to sell. Hence, in that location knowledge will be good to save
time and cost of the company.
Demographic: Music-lens have a major opportunity to segment potential customer's on
basis of their age, gender, personal priority etc. to target them accordingly. Musiclens have
decided to consider both male & females for this audio glasses to bring more sales.
Lifestyle: Wearing glasses are connected to sense of fashion and lifestyle to the person.
Thus, its an opportunity for Musiclens to gather customer, who are majorly loyal of pretending

or using lifestyle in their daily point of life (McDONALD, 2016). Musiclens have chances to
gather lifestyle preference people and target them accordingly with product development.
Targeting: This says how a potential customer can be targeted and with what level of a
support or strategy, that is a major concern. Musiclens have a potential chance to target their
buyer's on basis of lifestyle, purchasing pattern and geo-graphics region.
Geo-graphical: In area of an geographical region, targeting of an urban people is
suitable, as it consists of last customer base and number. Also, people knowledge and matter of
awareness matter here. With an assistance of urban population, it would be an ease to access
higher selling and product purpose.
Lifestyle: In Australia, lifestyle is in a blood which people follows with the passion and
craze. This will be an opportunity to position highly to those, who are loyal to be lifestyle kind of
followers (Crompton, 2017). Here, price of the product is not a matter, but consistency in quality
of Musiclens is a consideration to brought a kind of boost into a product access. Social media
will be best option to spread lifestyle intention to people with purpose to increase sales and
revenue.
Purchase pattern: Musiclens have major priority to target those who are used to buy
fashion product;s on frequent basis such as monthly, yearly or weekly. In the brief research, it
was revealed that, 60 percent of a potential customer's have high purchase pattern, might be as of
higher income level & choice matters. If income level is prominently higher, influences of the
purchase pattern won't happen again.
The major reason behind choosing these target market, as a reason of its potential reason
to self generates brand image in the Australian region effectively along with increasing brand
image at a potential stage or platform. Also, these target market are consists of heavy customer's
base and acquiring future people in an effective manner.
Objectives
In every marketing plan, objectives are required to be set with some purpose like build
profit level by 5 percent, market share by 4 percent etc. As, these objectives are specific, time
bound, measurable in nature, because it provides exact figure on what business objectives to be
accompanied to increase business reach in given period of time (Lamb, 2017). In context with
the Musiclens, firm is looking to introduce their bone conduction lens with the audio enabled

into region of an Australian. Here, SMART objective will be set in respect to both marketing and
financial. An individual explanation on SMART objectives are as follows:
Marketing objectives: Musiclens has set-up two marketing objectives:
Acquire market share in Australia by 30 percent initially: This objective is time specific
and attainable to any given business situation or status. This goal is implemented after doing
brief research in a Australian market in 2019. Also, this will be attain with support of strategic
planning or evaluation of an action plan.
Increase brand image of Musiclens in given region: This objective is specific,
measurable and realistic (Kotler and et. al., 2017) As, brand image is focused on rising brand
viability or transparency with a focus on how product or strategies can be made so strong, brand
will automatically be converted into self empowerment and implement in a business
environment.
Source: SMART Objectives, 2018
Financial objectives: These objectives are related to financial data or info such as profit,
revenue building and sales of a product in a market. SMART objectives in this context are:
Increase periodic profit in one year by 10 percent: This objective is time specific,
relevant and measurable in nature, as it says business firm to raise higher profit by margin of 10
percent. This goal is realised after, doing analysis or checking revenue's sales and profit made by
Illustration 1: SMART Objectives

a Musiclens effectively. This objective will be accomplished with support of a proper financial
planning and doing an effective promotion of a Musiclens into the marketplace.
Marketing mix:
Marketing mix is a strategy which company uses to formulate a product or service to its
customer's. Marketing mix strategy is consists of 4 P's such as product, price, promotion, place
etc. (Luo and et. al., 2015). This strategy is relevant, as it suggests marketer's, various elements
such as price, product, places, promotion in order to make a relevant offerings to the customer of
a Australian region. The marketing mix of a Musiclens are as follows:
Product: Musiclens product's are comprises of Advanced Bone conduction audio glasses
and other technological devices etc. There are of good & effective quality and utilised with right
innovation. Musiclens has reach to customer in an ease manner using both online and offline
platform. Business firm has put its influence on bringing quality measures into product's with
right use of strategies or product testing. Here, marketer's of the Musiclens are option to promote
quality or status a product.
Price: This P's is one necessary components of the marketing mix strategy, in which
price of a product is used to be considers and also focus is use to be put on same. In reality,
Musiclens uses value based pricing, in which focus in on creation of a value out of product made
or sell. This P of marketing mix is important to implement or regulate with optimising cost
composition for business entities.
Sources: Marketing Mix, 2018
Illustration 2: Marketing Mix

Places: This is also an important part of marketing mix, which deals with distribution or
product placement at one location helps to ease customer in buying or purchasing in an effective
manner (Lewis, 2016). Apart from offline stores, Musiclens has its reach on online platform,
with which goods or services may be reached to customer in a defined pattern.
Promotion: This P's mainly deals with promotion or communication of a product in a
defined market place. In this, firm have scope to advertises their product's in the Australian
region with support of action plan, strategical decision making along with pre-planning of how
and what to be advertises. This P is necessary to create a productive brand image of a Musiclens
in some other location or place to make any product fit.
Budget allocation:
The budget allocation is comprises of income & expenditure statement and cash budget,
in which all kind of expenses or cost that is requires to introduce Musiclens product in the
Australian will be mention. Also, this objectives are set after consideration of SMART theory of
deciding goals or objectives. The budget are as follows:

Implementation and Campaign Evaluation
a) Implementation plan: This is a formal structure, which is made to implement strategies or
action plan in an effective manner. This kind of plan involves of four different P's of marketing
mix such as price, product, place or promotion etc. (Camilleri, 2018) For this assessment, all P's
of a marketing mix will be considered along with vision & mission of a business firm to
construct plan to suitability of an implementation at a leading stage.
Vision & mission: The vision of the Musiclens is to “make customer's experiences on
reality of an audio” and mission is to introduce Bone conduction Audio glasses to Australian
people to utilises it in an effective manner.
Main objectives: Strategic objectives is to introduce Audio glass product in a Australian
market at a price tough to beaten by competitor. Overall, major objective is set to fulfil business
development in a Australian which involves every aspects such as product, price, promotion,
places etc.

Strategic action plan: In this implementation plan, strategical decision making will be
taken into consideration to implement structure of a Musiclens product successfully in a market.
Also, these action plan have to be taken, just after an analysis of given pestle and swot in
previous assessment.
Resource: Ideas, previous product portfolio, market share and past strategies are some of
the key resources, which will be access to implement plan in a profit manner.
Time period: Time tenure required to establish Musiclens product is planned 6 months
which will cover period till final implementation of the product of this leading technology in an
Australian marketplace.
Expected outcomes: In this implementation plan, expected outcomes will successful
development of a Musiclens business in an Australian with an expectancy to build business
process at an optimised stage or level (Testa and et. al., 2015).
b) In Musiclens, top level authorities will be responsible to make strategies to introduce Bone
conduction Audio glasses. Marketing mix is mainly consists of four elements such as price,
products, place and promotion etc. In the Musiclens, Logistics department is responsible to make
distribution based strategies, pricing is used to be implemented by finance and R&D combine,
product strategy is used to be implemented by R&D and promotion is implemented by marketing
Dept. of the Musiclens. This is mainly implemented to successfully launch Bone conduction
audio glass in a Australia market to gain higher market growth and share.

CONCLSUION
From this above report, it is mainly concluded that marketing plan is necessary to make
or implement strategies in an effective or productive to bring growth or consistency to structure
of an organisation. Along with this, SWOT and Pestle analysis has proved necessary to led a
proper understanding of internal and external capabilities to develop ant defined strategies or
plan in an effective manner to bring boost to the business functioning at a larger scale. SMART
objectives has been resulted into the regulation of setting proper and utilises goals in a proper
manner. Lastly, it is concluded that, objectives of a business entity needs to be implements with
right and desired strategies.

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Online
SMART Goals, 2018. [online]. Available through: <https://www.toolshero.com/time-
management/smart-goals/>