Strategic Marketing Plan for Fitness Tracker Brand Development

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AI Summary
This report outlines a marketing plan for a new fitness tracker brand, beginning with a sector analysis that identifies market trends and opportunities within the UK market. It assesses the competitive landscape, highlighting major competitors and their positioning. The report details the development of the new fitness tracker brand, explaining its features, the gaps it fills in the market, and the opportunities it can leverage. Brand graphics, slogans, and packages are described, along with a comprehensive communication strategy targeting specific customer components. The technical aspects of the product are briefly touched upon, followed by recommendations on brand management and a detailed marketing plan encompassing market research, target market identification, positioning strategies, competitive analysis, marketing strategies, and budget considerations. The report concludes by summarizing the key elements of the marketing plan and emphasizing the brand's potential for success.
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MARKETING 1
Brand Development
By (Name)
Name of the Course
Name of the Instructor
Institutional Affiliation
City and Date
The final date of Submission
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MARKETING 2
Table of Contents
FITNESS DELIVERY SERVICE......................................................................................................4
Executive Summary......................................................................................................................4
Body.................................................................................................................................................4
Sector Analysis.............................................................................................................................4
Market Trends..............................................................................................................................4
Major Opportunities within the Market.......................................................................................5
Competitor Analysis.....................................................................................................................5
Positioning map...........................................................................................................................6
Development of a new brand in the Market.................................................................................7
Explanation about fitness tracker product..................................................................................7
Gaps in the market.......................................................................................................................7
Opportunities for the brand.........................................................................................................8
Explanation of the brand graphics..............................................................................................9
Brand Slogan.............................................................................................................................10
Brand Packages.........................................................................................................................10
Brand Logo................................................................................................................................10
Communication strategy for the brand......................................................................................10
Targeted components of the brand............................................................................................11
Technical part................................................................................................................................13
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MARKETING 3
Recommendations on how the Brand should be managed............................................................14
Marketing plan...............................................................................................................................15
Market Research........................................................................................................................15
Target market.............................................................................................................................15
Positioning.................................................................................................................................15
Competitive analysis..................................................................................................................15
Marketing strategies..................................................................................................................16
Budget........................................................................................................................................16
Conclusion.....................................................................................................................................16
References......................................................................................................................................17
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MARKETING 4
FITNESS DELIVERY SERVICE
Executive Summary
Marketing is one of the fundamental sectors that are known to have gained popularity in
modern society. Various people and organizations have been able to come on board with quite a
number of delivery services that aims towards scaling up the condition of society. Moreover,
within the delivery service sector, a number of products have been implemented to ensure that all
the needs of the customers are met appropriately. Nearly all the services being offered in this
sector have been ranging from one organization to the other where it has also been able to
depend on the condition of the current market platform (Liu and Chou 2016). This has further
enabled quite a number of individuals and organizations to come on board with various
regulations that govern their delivery services.
Body
Sector Analysis
Market Trends
Over the past years, the consumption trend within this sector has been gaining a long of
popularity across many regions both at the national and international level (Douglas, Craig and
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MARKETING 5
Nijssen 2016). This has further contributed to the rise in the total number of consumers within
the sector thus leading to the demand for various products and services that aims towards
satisfying the needs of the targeted customers (Clancy 2016). This places the U.K to be one of
the most unique markets as far as fitness delivery services are concerned. There has been a rapid
growth of social networks within the U.K market thus making it much easier to carry out quite a
number of operations without any disturbance.
Major Opportunities within the Market
There is minimal competition being experienced both at the local, regional and national
level. The lack of competition from various organizations and individuals makes it much easier
to come up with a variety of products and services that aims towards scaling up the entire
delivery sector to ensure that a good number of the targeted goals are accomplished in real time.
On the other hand, there is a humble opportunity for an individual to carry out business
expansion both at the national and international market platforms in order to satisfy the needs of
various customers irrespective of their places of residence (Schivinski, Christodoulides and
Dabrowski 2016).
Currently, there are certain forms of brands that tend to offer some competition within the
market. This is because the brands have gained much popularity across many individuals and
perhaps they have been able to satisfy the needs of their targeted customers through the
appropriate implementation of advanced techniques that can be easily understood by everyone.
Competitor Analysis
The major competitive brand within the U.K market is the beverage brand whose
consumption has increased to a greater level making its current situation to be on high demand
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MARKETING 6
within the market platform (Beverland and Lindgreen 2016). It has been a competitor to most of
the delivery services that have been focusing on the supply of other types products thus leaving
them behind at some point. Moreover, there are several other major brands that are known to be
supplied within the delivery service sector; these brands tend to be supplied in various places
regardless of where the customers are situated. Tea products, milk products, and even alcoholic
drinks are some of the major brands that have covered a good percentage of this sector (Lockshin
and Spawton 2016). This is because they are consumed almost on a daily basis by different types
of consumers. Moreover, as far as positioning map is concerned, alcoholic beverages tend to
cover the largest percentage of service delivery since they are delivered to various destinations
where their consumption rates tend to be very high. It is then followed by milk products, nearly
each and every homestead is known to be using milk products on a daily basis, and this has made
the brand to be delivered in large quantities across a large number of individuals living in various
homesteads. Tea brand then follows within the positioning map where they are known to be
delivered to various destinations.
Positioning map
High quality
Fitness tracker products
Low price High price
Tea products Alcoholic products
Milk products
Low quality
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MARKETING 7
Development of a new brand in the Market
Coming up with a new brand in the market will be one of the most essential decisions
that are set to benefit quite a number of individuals most so the ones who have been in need of
the brand for their personal benefit. One of the major brands that will be introduced in this sector
will be an innovative brand (Dickinger and Lalicic 2016). This is to ensure that there is an
advanced introduction of the targeted types of breakthrough products and even technologies.
Explanation about fitness tracker product
The main product that will be focused on by this service is known as fitness tracker. It
will be able to adequately track and monitor quite a number of physical activities. Moreover, the
fitness tracker also has the capability of carrying out an appropriate monitoring of various forms
of psychological functions which normally include things like breathing, heart beat rate and even
and eve sleep. The fitness tracker therefore aims towards offering quite a number of advantages
to most of the customers most so the ones who are interested in the world of sports. On the other
hand, it will make it easier for quite a number of personalities to adequately exercise in order to
maintain the flexibility of their body system (Brooks and Anumudu 2016).
Gaps in the market
There are quite a number of gaps in the market platform that led to the development of
the brand. These gaps have been able to hinder most of the customers from attaining what they
need. Due to this, it was, therefore, important to come up with a modern form of a brand that will
ensure that positive outcomes are adequately achieved as far as issues dealing with technology
are concerned (Kulikova et al. 2016). One of the major gaps that have always existed in the
market is the unavailability of the product in the market. The brand is currently not available
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MARKETING 8
within the market thus giving most of the customers a hard time in carrying out various
operations and achieving various goals within the required time. Additionally, all the brands that
have existed within the market have been of low quality and what is worse about them is that
they do not last long as expected thus failing to serve the intended purpose. On the other hand,
higher market prices also act as another gap that has brought about quite a number of difficulties
within the market. A good number of the brands that have been existing in the market are
charged at higher prices, this makes it difficult for most of the consumers to meet the required
price as far as matters pertaining purchase are concerned (Evans et al. 2010). As a result of
higher prices being charged, a good number of the customers have decided to concentrate on
those brands with fair prices. Additionally, poor customer service across quite a number of
delivery services have ended up pushing away most of the customers (Cawsey and Rowley
2016). Customers are the core pillars of every business, once they experience any form of
frustration, this tends to ruin the reputation of a business or even product (Graham 2016).
Opportunities for the brand
Quite a number of opportunities existing within the market have led to the demand of the
brand among various personalities. One of the major opportunities is the availability of brand
demand. Such a brand that will act as a game changer in the entire market is one of the most
essential and valuable opportunity. There is a high demand across the entire population who
needs to be served with quality products and services that are capable of adequately satisfying
their needs. As a result of this, there is a high probability that the brand will sell when it is
introduced in the market through appropriate means (Manhas, Manrai and Manrai 2016). On the
other hand, another favorable opportunity is the existence of favorable government policies that
are capable of ensuring that quite a number of brand operations are carried out in a reasonable
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MARKETING 9
manner. These policies are there to govern various brands and even go as far as offering
appropriate directions on what should be done together with what should be avoided in order to
attain a certain level of success. Additionally, another opportunity is that there is an availability
of larger market size that contains a huge number of customers. This larger market size makes
the market to expand at a higher rate under various conditions that aims towards bringing
development to society. This will act as a perfect opportunity for the brand for it to appropriately
meet quite a number of market objectives within the stipulated period. This brand is required as a
result of various factors. One of the major reasons as to why the brand is needed is because of
quality, all the customers within the market platform require quality products that are capable of
lasting loner thus serving their needs, and this is why the brand has been introduced to them in
order for them to experience long-lasting operations without encountering any barriers either at
the initial stage of eve at an advanced stage of using the brand. The new brand is also needed as a
result of demand in the market (Ahmad, Musa and Harun 2016). Most of the customers and
organizations have even gone further to look for such products that they feel will best bring on
board quite a number of necessary outcomes at the consumer level.
Explanation of the brand graphics
The brand graphics includes a number of parameters that aims towards attracting the
attention of the customers. This will ensure that appropriate information is passed appropriately
to the consumers without them experiencing any challenges. The name of the brand will be
‘Fitness tracker’ that will be fitted in between a high-quality logo showing quite a number of
fitness related products. This is something that is aimed to attract the attention of the customers
for them to clearly understand what the whole brand is all about (Kang and Hur 2012).
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MARKETING 10
Brand Slogan
The slogan attached to the entire brand will be ‘To provide the best out of the best’. This
slogan will clearly indicate who best the brand is concerned about quality products that are long-
lasting. Moreover, the brand is made simple for it to be easily understood by everyone.
Brand Packages
Finally, there are packages for the brand. The brand will be placed in quality packages
with attractive colors and important writings in it that show more about the brand (Mohr, Eroǧlu
and Ellen 2016). This will further increase its popularity across large populations.
Brand Logo
Communication strategy for the brand
In order to ensure the success of the brand, appropriate and reliable communication
strategies need to be developed on board in order to increase the level of understanding that
exists between the brand and its consumers (Fernandez-Lores et al. 2016). One of the best
FITNESS TRACKER
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MARKETING 11
communication strategies that will be used to advertise the brand is the use of internet
advertisements. The brand will be advertised in various internet platforms most so the platforms
where most of the targeted customers are in (Baena 2016). On the other hand, the brand will also
be advertised on various billboards that will be erected in different places most so in the major
towns. The billboards will be able to showcase quite a number of issues that are associated with
the brand (Klink and Smith 2016). Different people will be able to view the brand adverts placed
on the billboards even from a far distance. One of the major reasons to implement the use of
billboards is to ensure that appropriate communication is passed to all the targeted customers
without any barriers being encountered.
Targeted components of the brand
There are four different components of the brand we aim to attain in order to accomplish
most of the future goals in real time. The following are some of the four components that are
associated with the brand;
Brand Identity- In order to attain one of the most reputable brand identities, quite a number of
issues must be considered within the boundaries of ethics. The brand will be of totally different
identity that will be unique (Craig and Hart 2016). On the other hand, the uniqueness will be
brought about as a result of quite a number of advanced features that will be attached to the
brand. These features will easily distinguish the brand from the rest of the available brands in the
market thus making all the customers to easily identify the brand will a lot of ease without any
confusion (Neuvonen 2016).
Brand Image- Brand image will be achieved through quite a number of techniques to ensure
that most of the targeted goals are appropriately attained in real time. In order to come up with an
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MARKETING 12
appropriate brand image, there will be an appropriate identification of some of the key audiences
(Liu et al. 2016). To make the brand image to be more clear an appropriate and reliable
determination of the key business goals will also be carried out. The brand image will, therefore,
be consistent. This will easily be able to differentiate the brand from competition thus making it
remain in the memories of the targeted customers for a longer period.
Brand positioning- The positioning of the brand will be adequately implemented to ensure
that it brings out the best outcome. To come up with this strategy, there will be an
implementation of differentiation techniques connected to the brand. By making the new brand
to be different from other available brands, there will be an adequate provision of the required
contrast that will go as far as enabling various customers to make appropriate and reliable
choices connected to the brand.
Brand equity- In order to come up with appropriate and reliable brand equity, the premium
price that is attached to the brand will be reasonable and acceptable across all categories of
customers (Khan, Dongping and Wahab 2016). This will further ensure that there is no
discrimination among customers. On the other hand, brand equity will be maintained through the
use of high-quality materials that are unique from the other ones being used in most of the
products within the market. This will ensure that the owners will not only be provided with the
desired product but also they will have a reasonable experience that is connected to the high
technology phone brand.
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