Digifit Fitness Band Marketing Plan

This assignment requires you to develop a comprehensive marketing plan for the launch of a new fitness band called Digifit in Australia. The plan should outline the product's features, target market, pricing strategy, distribution channels, promotional activities, and budget allocation. You will also need to consider the competitive landscape and the importance of digital marketing in reaching the younger generation.

Running head: MARKETING PLAN
Marketing Plan
Name of the Student
Name of the University
Author Notes

1
MARKETING PLAN
Table of Contents
Introduction:....................................................................................................................................2
Situational Analysis.........................................................................................................................2
Opportunities and Issues..................................................................................................................3
Marketing Objectives.......................................................................................................................3
Marketing Strategies........................................................................................................................4
Marketing Mix.................................................................................................................................5
Budget Profile..................................................................................................................................5
Monitoring and Control...................................................................................................................6
Conclusion.......................................................................................................................................6
Reference.........................................................................................................................................7

2
MARKETING PLAN
Introduction:
The purpose of this business report used to prepare a marketing plan along with
marketing objectives for a newly launched digital wearable product, which is being launched in
the market of Australia. The main aim of the marketing plan will be to fix up on strategy, which
can help to attract the maximum number of customers; thereby making it is successful market
entrant. The wearable technological device, which helps to crack the level of fitness of an
individual, is one of the most popular electronic gadgets in the consumer market. It is essential
for the marketing plan to ensure that, the newly launched product is able to make maximum
utilisation of this business opportunity.
Situational Analysis
The Activity tracker fitness devices, which is mainly aimed for the fitness aware and
health conscious individual is currently one of the popular electronic gadgets among the
population of Australia. According to the report of El-Amrawy and Nounou (2015), more than
70% of the adult Australians, who have use some kind of Activity tracker in the form of
wearable device have agreed upon the fact that use of the gadget has help to improve upon their
fitness level. This is mainly due to the fact that with the help of the information that are provided
by the fitness tracking device, it is possible for an individual to track their overall physical
activity. This type of wearable fitness Technology is mainly popular among the population of 30
to 35 years old.

3
MARKETING PLAN
The external business environment in the form of highly developed economic and
technological infrastructure in Australia it is possible for the newly launched fitness band, Digifit
to easily implement their marketing strategy as a new entrant product.
Opportunities and Issues
With the level of health awareness increasing among the Australian population, this is
common among the use of the people to make use of the wearable fitness devices in order to
track the level of fitness. The small size of these devices makes it possible for every type of
people to easily use the device, thereby increasing the popularity (Ryan 2005).
The newly launched wearable fitness device is introduced in the market under the brand
name of Digifit need to make use of this business opportunity. The major threat of the newly
launched product is due to the presence of reputed brands like Samsung Smart watch, Apple
iWatch and Fitbit fitness bands, which have gained huge popularity over the years.
Nevertheless one of the major strength of the newly launched Digifit fitness band is due
to the fact that they are able to sale the product at much lower cost compared to most of the rival
brands, which is also believed to be the major competitive advantage. In the initial stage
however, like all other new entrant product in the market the Digifit will have to deal with the
weakness of less brand popularity among the target group of customers.
Marketing Objectives
The objective of the marketing plan is to implement an effective strategy, which can help
the Digifit fitness band to capture a significant market share of the market of wearable
technology. The marketing plan will use effective communication strategy in order to reach out

4
MARKETING PLAN
to the target group of customers and delivered the message, which will help the customers to
understand the uniqueness of Digifit fitness band. Due to the low level of pricing of this fitness
band compared to other similar devices, it is possible for the company to target wide range of
audience among the Australian population.
Marketing Strategies
According to Smith (2017), market segmentation is one of the essential part of marketing
strategies. This help to divide the target market of a company based on different types of
characteristics and buying behaviour of the customers. Due to the fact that digital fitness band is
quite popular among all types of people in Australia, the market segment for the latest launched
Digifit. It is also relevant to mention in the context that due to the low cost of the fitness band, it
is possible for the company to segment their market with individual making low level of income.
In spite of the fact that that fitness band are suitable for people of all age category, the main
target group for the Digifit band includes individual within the age category of 30 to 40 years.
The main highlighting point about the Digifit band is related to their value proposition,
which is the fact about the low cost and high quality product. In spite of their low cost they are
not compromising upon the features that are usually available in any normal fitness band. This
can be the major element, which will help the company to establish a brand reputation among the
consumer market of Australia. With the help of effective value proposition, it is possible for the
company to deliver high quality product and able to gain the trust of the customers. It can also
help the fitness band to capture unique position in the fitness industry of Australia, which is
believed to be one of the fastest growing sectors in context of the modern days.

5
MARKETING PLAN
Armstrong et al. (2015), have mentioned about the importance of brand positioning
strategies, which is aimed by a business organisation to reach out to the target group of
customers at their psychological level of buying decision making process. With the help of
effective brand positioning strategy by Digifit, it is possible for them to maximize the total
number of customers and also attract the same from Rival brands, which are highly popular
among the present generation of Australians. With the help of effective branding strategy and
brand positioning, it is possible for the company to gain significant competitive advantage.
Marketing Mix
The marketing mix strategy is decided with the help of four major elements.
The product that is launched by the Digifit is a wearable fitness band, which is one of the
most popular electronic devices. The main highlighting features of this product are the low cost
and high quality of material that is being used (Huang and Sarigöllü 2014).
The price of the fitness band is budget friendly that can be afforded by people of all
section of the society. In spite of its low cost, the company has not compromised up on the level
of quality.
The place of launch of the fitness band is currently at few of the major cities of Australia.
After few months the product will be available from all parts of the Australia.
The promotional strategy which is being used by the company is mainly to attract the
people of younger generation. Hence they are mainly depending upon the digital form of
marketing campaign.
Budget Profile

6
MARKETING PLAN
Cost of Digital marketing: $500
Cost of traditional form of marketing: $500
Cost of repairing essential Marketing Communication elements: $700
Cost of hiring experienced market researchers: $200
Monitoring and Control
It is essential for the Digifit brand to monitor the marketing strategies that are the
implemented along with the total volume of sales. With the process of monitoring it is possible
to estimate upon the overall market share of the product, which has the potential to improve over
the recent future.
Conclusion
In the concluding note it can be said that it is essential for the newly launched fitness
band to make use of the business opportunity that exist due to the fact that most of the
Australian population to get the latest information about their health status. The low cost of the
fitness band along with high level of quality is one of the major competitive advantages.

7
MARKETING PLAN
Reference
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Pearson Education.
El-Amrawy, F. and Nounou, M.I., 2015. Are currently available wearable devices for activity
tracking and heart rate monitoring accurate, precise, and medically beneficial?. Healthcare
informatics research, 21(4), pp.315-320.
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.
Ryan, P. (2005). Programs and equipment that are leading the industry: highlights from the 2005
IDEA Fitness Programs & Equipment Survey. IDEA Fitness Journal, 2(7), 91-94.
Smith, K.W., 2017. KWSnet Fitness/Exercise Index.