An Evaluation of the Market Conditions for a Marketing Plan

Marketing planning
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Executive summary
This program has been executed with a purpose to prepare a marketing plan so as to promote the
product in the market. For this purpose analysis of the market conditions is done. This analysis
will help in the identification of the performance and feasibility of the product in the market.
People are getting health conscious and are looking for means which keeps them fit in minimal
time and which is cost effective. It also discusses the marketing strategies which help in
producing the product and promoting the product in the market in an effective manner so as to
gain the maximum benefits. Marketing objectives have been set so as to attain the set objectives.
Marketing strategies helps in the attainment of the objectives of the business by guiding the
efforts in the right direction. It explains the importance of monitoring and control in maintaining
the feasibility of the product and promotion activities used for the promotion of the product.
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Table of Contents
Executive summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Situation analysis.........................................................................................................................................5
Opportunities and issues statement..............................................................................................................6
Marketing objectives...................................................................................................................................7
Marketing strategies....................................................................................................................................8
Marketing mix.............................................................................................................................................9
Brief budget/ profitability analysis............................................................................................................11
Monitoring and control..............................................................................................................................12
Summary and conclusion...........................................................................................................................13
References.................................................................................................................................................14
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Introduction
This report has been prepared so as to prepare a marketing plan for an international IT company
for the launch of a new product in Australia. For this purpose a company has been selected
named as “Odecee Pty Ltd” an IT company of Australia. A new product has been developed
which is a wearable accessory that looks like a wrist watch, which incorporates computer and
advanced electronic technologies for fitness and exercise. For evaluating the effectiveness of the
gadget in the market there is a need to conduct a market survey so as to gather information
regarding the product. This program discusses the analysis of the environment in which business
is offering the product so as to analyse the factors affecting the success of the product. Marketing
mix has been used which is an effective tool used in marketing that helps in determining the
product’s feasibility (Smith, 2016).
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