Marketing Strategies for a New Product Launch in the Australian Market

This assignment is about creating a marketing plan for an organization that wants to promote its product, a wristwatch, in the Australian market. The organization should focus on promoting the product to young people who frequent exercise centers and yoga studios. To achieve this goal, the organization can consider launching the product at these centers, creating brand awareness by introducing an attractive tagline, positioning the product as a must-have for those who engage in regular exercise or yoga, and measuring its success through cost-benefit analysis.

Marketing Planning
Marketing planning

Marketing Planning
Contents
Executive Summary.....................................................................................................................................1
Introduction.................................................................................................................................................1
Situational analysis......................................................................................................................................1
Strength.......................................................................................................................................................2
Weakness....................................................................................................................................................2
Opportunities..............................................................................................................................................2
Threats........................................................................................................................................................3
Objective of the plan...................................................................................................................................3
Marketing strategies....................................................................................................................................3
Marketing Mix.............................................................................................................................................4
Profitability analysis....................................................................................................................................4
Control.........................................................................................................................................................4
Conclusion...................................................................................................................................................4
References...................................................................................................................................................5
Executive Summary
A Marketing plan is a framework that is made by the company to offer the changes to the
products or to propel the product in the market. Under this circumstance, Envato is the

Marketing Planning
association which is a part of IT industry and needs to launch a wrist watch in the market of
Australia. The organization is in Australia and it is considered as a largest company of IT
industry that gives distinctive products to its customers. The company needs to dispatch the new
thing in the Australian market so the association can develop the product with finish
improvement and advancement in the market.
Introduction
Envato is an IT industry which is established in Australia and it is considered as the largest
business in the IT section. This report gives basic focus on the situation analysis and on The
SWOT examination that will empower the relationship to fulfill its objectives and also access in
launching new product in the market. This report will similarly consolidate the feasible
advancing arrangement of the Envato Company for the Australian market that will develop its
operations in the market. The main focus is given to launch a wrist watch in the market
Situational analysis
The situational analysis consists of the techniques that are used by the organization to choose
internal and external factors. The association deals in various advances that give customers a
phase to interface and control contraptions that are found in the market. It makes the innovation
unique and fruitful to be used by the customers (Peppers and Rogers, 2016). There are various
competitors in the Australian market that gives anomalous condition of competition to the
association. The level of competition is high in the Australian market. The company
contemplates elevating the ability to dispatch new products in the market so broad society can be
pulled in towards the item and can compete with various contenders that are winning in the
market. To conduct its operations in the market the primary obligation is given to the marketing
team to execute its advertising design and offer it to the higher experts. By this right choices can
be taken into consideration in successful way. Numerous systems are there that can be
considered, for instance, SWOT examination (Hoang and Ruckes, 2017).According to the
current circumstance of Envato Company, the exact information that can help in examination
ought to be conceivable by using SWOT examination. Point by point examination of Envato
Company is done in following ways:

Marketing Planning
Strength
Envato is connected in this industry from various years. The benefits and capacities are
adequately strong of the association. The association has a given and viable organization that
keeps up the goodwill of the association. The specialists are considered as a fundamental
component of the relationship with the objective that the level of satisfaction can be enhanced
effectively. The association offers pay to its laborers with the objective that they can without any
problem can retain them in the organization (Kirzner, 2015). The human resource specialists
keep up the tracks that are stressed over the change. Envato is considered and seen among its
customers that offer the incredible items with the amazing thing. The things that are presented by
the company are in the extent of the overall public, with the objective that they can easily fulfill
the demand of the customers (Peppers and Rogers, 2016).
Weakness
Since every association has some feeble areas, so it is vital to keep the record of each of them
with the objective that it can be diminished in effective way. The photo of Envato is impacted by
a couple of events on which the association should make corrective steps with the objective that
it can be changed with the nature of the association. The hindrance of the association is that it
has insufficient stock system and conveyance channel that gives impact on the company
performance. There are various customers that think the company does not give incredible
shopping information so the attitude of the customers should be changed by mulling over
effective strategies (Kirzner, 2015).
Opportunities
There are various opportunities that are available for the association. To enhance the goodwill of
the organization it should consider the things and organizations that offer distinctive things in the
market. The Envato Company has an opportunity to meet the essentials of the customer by
examining their necessities and needs in convincing way. By concentrating on the middle level
people, the association gives main focus on promoting goods and services of the organization
(Kerzner, 2013).

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Threats
The competition is expanding and the associations are focusing on enhancing the techniques. The
purchasing practices of the customers are changing and they are considering on the items that are
available requiring little to no effort. The customers are focusing on the things that have many
features and are of minimal effort. Similarly the rule is taken into consideration by the
association is stressed over extending the principles and controls of the governing body. There
are numerous associations in the market that offer the things that contain comparative highlights
(Huang and Sarigöllü, 2014).
Objective of the plan
The point of the marketing plan is clear and the capacity of promoting is considered to dispatch
the wrist watch in the Australian market. By considering the circumstance it is seen that the
association is currently settled in Australian market and they are aiming to dispatch new product
in the market. This is the objective of the association and diverse strides are considered over like
making systems to beat the resistance, factual reviewing so the affiliation can without a lot of
extend to broaden its business operations. By this the targets and goals can be achieved in proper
manner (Coombs, 2014.).
Marketing strategies
The association should consider the adolescents who are every now and there are in contact with
exercise center. The launching of product should be done in different centers of yoga or gym.
This thing is useful for those people who are every now and again involved with yoga center or
exercise (Saade and Nijher, 2016). For advancing the item the exercise center or the yoga should
be considered, so people can wind up noticeably familiar with the product. The focal points
should be uncovered to the overall public so people get actuated to buy the thing. Positioning
gives the customer knowledge about the product. So to launch the product in the market the
company should position the product in the yoga and exercise center. The company can also take
into consideration branding by introducing an attractive tagline for the product concerned with
the wrist watch. (Markarian, 2014).

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Marketing Mix
The thing should be presented in the market by the association by defining the benefits of the
thing. The favorable circumstances and purposes of intrigue should be cleared up in convincing
route through business exercises. As the association do not have a bad picture in the market, it
will pull in more customers towards the thing. The cost should be low when appeared differently
in relation to various contenders at the period of pushing a thing. It should be impelled in
different exercise center focuses or in yoga focuses. It centers with the objective that the
improvement can be proficient in intense way (Punjaisri and Wilson, 2017).
Profitability analysis
The primary objective of the association is to obtain the benefits. Along these lines, benefit
investigation should be considered over in which the examination of cost and pay is done and it
tells about the profitability of the association (Burke, 2013).
Control
To promote the product in the market the control ought to be taken by considering the cost of the
thing. The execution should be measured by considering the arrangements. The objective can be
controlled by influencing people to buy the thing. The population must be influenced if the thing
offers advantages to the customers (Kurbel, 2016).
Conclusion
In this report it is inferred that advertising plays a fundamental role for driving a thing in the
market. The association should give essential focus on the young people to propel the thing in
the market so that the goals and objectives can be achieved in effective manner. The association
should focus on the yoga and exercise center focus with the goal that the association can gain
profit in advancing the thing.

Marketing Planning
References
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Coombs, W.T., 2014. Ongoing crisis communication: Planning, managing, and responding.
Sage Publications.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132).
Springer New York.
Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kirzner, I.M., 2015. Competition and entrepreneurship. University of Chicago press.
Kurbel, K.E., 2016. Enterprise resource planning and supply chain management. springer-verlag
berlin an.
Markarian, G., 2014. Product market competition, information and earnings
management. Journal of Business Finance & Accounting, 41(5-6), pp.572-599.
Peppers, D. and Rogers, M., 2016. Managing Customer Experience and Relationships: A
Strategic Framework. John Wiley & Sons.
Punjaisri, K. and Wilson, A., 2017. The role of internal branding in the delivery of employee
brand promise. In Advances in Corporate Branding (pp. 91-108). Palgrave Macmillan UK

Marketing Planning
Saade, R.G. and Nijher, H., 2016. Critical success factors in enterprise resource planning
implementation: A review of case studies. Journal of Enterprise Information
Management, 29(1), pp.72-96.