CQUniversity Marketing Fundamentals: Print Pen Marketing Strategy

This assignment presents a detailed marketing plan for the Print Pen, designed for launch in the Australian market. It begins by outlining three key marketing objectives: building brand awareness, increasing sales, and achieving customer satisfaction. The plan then delves into market segmentation, targeting students and office workers, and positioning the pen as user-friendly and handwriting-enhancing. The marketing strategy proposes a price skimming approach, initially setting prices competitively and adjusting them based on market demand. Promotional strategies include online marketing via social media, giveaways, direct marketing to educational institutions, and email marketing. The assignment also addresses marketing ethics, focusing on the right to be informed and privacy, and legal issues such as data collection and distribution. References to relevant marketing literature support the plan.

Marketing
0
Marketing Fundamentals
Assignment 3 – Market Objective and Strategy
1/24/2020

Marketing
1
Contents
Marketing Objectives..................................................................................................................................2
Market Segmentation, Targeted Customers and Intended Positioning.........................................................2
Propose and justify marketing strategy........................................................................................................3
First Market Strategy (Pricing Strategy)..................................................................................................3
Second Market Strategy (Promotional Strategy).....................................................................................4
Marketing Ethics and Legal Issues..............................................................................................................5
References...................................................................................................................................................6

Marketing
2
Marketing Objectives
Marketing objectives are essential for the overall process of the product and its organization.
These objectives improve the overall process of the product and also manage the profits gained
by the product (Lee, et al., 2015). The three marketing objectives of the print pen are discussed
as below-
 One of the marketing objectives of the product is to build proper brand awareness among
customers so they attract the product and analyze the working process of the print pen
(Fifield, 2012).
 The other most important marketing objective relates to the increasing sales which are an
essential objective of any product and organization. It is important to increase the sales of
print pens (Clow, 2016). This objective can be achieved by using different strategies to
attract customers.
 The last marketing objective is to achieve customer satisfaction so that the overall
marketing strategies of the product gets improved (Groe, et al., 2009). Customer
satisfaction is essential for any product or organization and it increases the overall
concept of the organization.
Market Segmentation, Targeted Customers and Intended Positioning
The market segmentation, targeted customers and positioning are important processes in
the marketing of the product. Market segmentation is the process of dividing a market of
potential customers into groups or segments (Bowie, et al., 2016). The segment of the print pen
includes an age and working process. The pen is used for different purposes as it is used as per
the age and the working process of people (Hellwig, et al., 2015).
The targeted customers of the print pen are students and the office going people. The
paint pen is used for the writing process. The analysis of targeted customers is essential for the
overall process of marketing. In the targeted consumers, the specific group of customers focuses
on the advertisements of the company (LIU, et al., 2015). The marketing process becomes easier
by identifying targeted consumers. As per the analysis, it has been determined that the target
market is the subset of the total market.

Marketing
3
The positioning strategy is much more beneficial for the product and its strategies.
Positioning refers to the proper place of the brand that has in the minds of consumers. The
positioning of this product is that it is easy to use and improves the handwriting of the students.
This process is used to impact the perception of customers. This strategy helps the company and
product in attaining the competitive advantage and affects the competitors of the company. The
positioning strategy improves the overall process of product and improves the growth of the
product in the market.
Propose and justify marketing strategy
First Market Strategy (Pricing Strategy)
The marketing strategy of the Print pen product is to put their prices related to their
competitive prices so that a certain amount of profit can be attained. The product print pen has
adopted the Price Skimming strategy in which they have charged the initial price which the
customers of Australia can pay. When the customers get satisfied with the product and the
demand will increase, the firm will attract the other customers by lowering the prices (Dzisi and
Ofosu, 2014). As the product is new to enter the Australian market so to grab the large customers
can be possible by lowering the price and increasing the sales volume. The unit cost will reduce
so that the competition can be given to the other similar products like a print pen.
There are different types of printing pen which are offered to the customers so the pricing
also differs from product to product. There is 2D, 3D and 4D printing pen which is available for
the customers so their price ranges are also different (Hawkins and Mothersbaugh, 2016). The
price range for the 4D pen is around $30, for the 3D pen is $25 and for the 2D it is $20. The print
pen has customized flash devices that belong to the different range of GBs so the prices of the
print pen also fluctuate. If the customers want the pen of high GB data then the prices will be
high and if they want low GB of data then the prices will lower.
With the help of the Price Skimming strategy, the product print pen can recover their cost
of development and can earn a high profitability in the later period. The high percentage of the
profit can be attained by the distributors as it follows the vertical supply chain. The product has

Marketing
4
determined its prices as per the needs and the value of the customers (Kienzler and
Kowalkowski, 2017).
Second Market Strategy (Promotional Strategy)
The major marketing strategy of the product Print pen was to get aware of this product
among the customers. The company wants to raise its sales and generates brand loyalty in the
market which can be done through the promotion strategy only. The company uses several ways
of advertising their products such as they have used online marketing and other ways too
(BAČÍK, et al., 2014). Nowadays the most popular way to reach customers is social media sites
such as Facebook, Instagram, Twitter, etc. to promote the products. To promote product sales
promotion, direct marketing and even public relations have also maintained so that print Pen can
be promoted. With the help of promotional strategies, the product information has been reached
to the customers and the frequency of the use of these products can be increased (Ivanov, 2016).
The Print Pen is majorly used by the students, teenagers and official purposes. The
teenagers majorly use social media sites and this online marketing promotional strategy is very
effective for attracting those people (Waheed, et al., 2017). Even the giveaways are arranged for
the customers so that they can get aware of these products and to the winners, the print pen is
distributed. Direct marketing strategy is also done by the company by going to universities and
schools to promote such products. The Email marketing Sequences has also used by the
company to promote the products as it helps in building the relationship with the customers.
Even the contest has been arranged so that a large number of customers can be targeted.
It is not necessary that by arranging the contest the more product of Print pen will be sold but at
least the brand is getting aware among the customers (Peter, et al., 2016). The attention of the
customers is gathered through the contest and this helps the product in creating awareness and
spreading their uses among the people.

Marketing
5
Marketing Ethics and Legal Issues
The marketing process of any product or organization has several ethical and legal issues.
The marketing process included ethics that affect the overall process of the business and affect
the marketing aspects of the business. The different ethical issues related to the marketing are
discussed as below-
The right to be informed
The first ethical issue that arises in the marketing aspects relates to the right to be informed.
This right relates to the customers who have the right to get the information related to the
product (Cross, et al., 2015). The product is a paint pen that is used for the writing purpose so the
customers who use this pen needs to be informed properly regarding the product.
The right to privacy
The right to privacy needs to maintain privacy in the overall process of marketing. The
companies need to be aware of the right to privacy of the consumers. The consumer's privacy is a
broad concept as per the marketing issues as companies need to acquire the information of
customers (AL-Khatib, et al., 2016). The consumers want to maintain privacy in their
information.
As per the ethical issues, legal issues are also involved in the process of marketing. The
laws are much more involved in company operations. Some of the main legal issues are:
Data collection
Data collection is one of the important methods used in the process of marketing. It is
considered as a significant stage of marketing. The companies need to maintain the legal
processes in the collection of data otherwise several legal issues have occurred in the promotion
product process.
Data distribution

Marketing
6
The data distribution is an important part of the marketing process. The data distribution
of the company also included in the marketing process and the companies need to maintain
flexibility in the data distribution so that distribution can be maintained in the overall process.

Marketing
7
References
Al‐Khatib, J. A., Al‐Habib, M. I., Bogari, N., & Salamah, N. (2016). The ethical profile of global
marketing negotiators. Business Ethics: A European Review, 25(2), 172-186.
BAČÍK, R., ŠTEFKO, R., & GBUROVÁ, J. (2014). Marketing pricing strategy as part of
competitive advantage retailers. Editorial Board, 9(4), 602.
Bowie, D., Buttle, F., Brookes, M., & Mariussen, A. (2016). Hospitality marketing. Routledge.
Clow, K. E. (2016). Integrated advertising, promotion, and marketing communications. Pearson
Education India.
Cross, J. C., Belich, T. J., & Rudelius, W. (2015). How marketing managers use market
segmentation: An exploratory study. In Proceedings of the 1990 Academy of Marketing
Science (AMS) Annual Conference (pp. 531-536). Springer, Cham.
Dzisi, S., & Ofosu, D. (2014). Marketing strategies and the performance of SMEs in
Ghana. Marketing, 6(5), 102-111.
Fifield, P. (2012). Marketing strategy. Routledge.
Groe, R., Sodhi, G., & Groth, W. (2009). U.S. Patent Application No. 12/140,073.
Hawkins, D. I., & Mothersbaugh, D. L. (2010). Consumer behavior: Building marketing
strategy. Boston: McGraw-Hill Irwin,.
Hellwig, K., Morhart, F., Girardin, F., & Hauser, M. (2015). Exploring different types of sharing:
A proposed segmentation of the market for “sharing” businesses. Psychology &
Marketing, 32(9), 891-906.
Ivanov, S. (2016). Economic and marketing fundamentals of hotel chains. 2016). Routledge
Handbook of Hotel Chain Management. London: Routledge, 19-26.
Kienzler, M., & Kowalkowski, C. (2017). Pricing strategy: A review of 22 years of marketing
research. Journal of Business Research, 78, 101-110.

Marketing
8
Lee, J. Y., Kozlenkova, I. V., & Palmatier, R. W. (2015). Structural marketing: Using
organizational structure to achieve marketing objectives. Journal of the Academy of
Marketing Science, 43(1), 73-99.
LIU, H., LU, H., RUAN, J., TIAN, B., & HU, S. (2015). Research on precision marketing
segmentation model based on mining “persona”. Journal of Silk, 52(12), 37-42.
McDonald, M., & Wilson, H. (2016). Marketing Plans: How to prepare them, how to profit from
them. John Wiley & Sons.
Miller, K. J. (2016). An investigation into how a sporting national governing body utilises twitter
as a promotional marketing tool to enhance grass root participation (Doctoral
dissertation, Cardiff Metropolitan University).
Peter, J. P., Olson, J. C., & Grunert, K. G. (2016). Consumer behaviour and marketing
strategy (pp. 329-48). London: McGraw-hill.
Stokes, R. (2011). eMarketing: The essential guide to digital marketing. Quirk eMarketing.
Waheed, A., Yang, J., Ahmed, Z., Rafique, K., & Ashfaq, M. (2017). Is marketing limited to
promotional activities? The concept of marketing: A concise review of the literatur. Asian
Development Policy Review, 5(1), 56-69.
Yadav, M., Joshi, Y., & Rahman, Z. (2015). Mobile social media: The new hybrid element of
digital marketing communications. Procedia-social and behavioral Sciences, 189(1),
335-343.