MRKT20052: Marketing Plan to Enhance Motiv Ring Market Share

This marketing plan for Motiv Ring outlines strategies to enhance market share and brand awareness. It includes a situational analysis covering internal, industry, competitor, and distribution aspects, followed by a SWOT analysis identifying key issues. The plan details marketing objectives, including building brand awareness, targeting new consumers, and enhancing consumer relationships, alongside financial goals like achieving specific sales volumes and profits. Segmentation, targeting, and positioning strategies are defined, focusing on middle to upper-income professionals and health-conscious individuals. The marketing mix elements are addressed with specific objectives, strategies, and tactics for product, price, place, and promotion, supported by financial indicators and budgets. The plan concludes with evaluation criteria to assess its effectiveness. Desklib provides access to similar documents and solved assignments for students.

Running head: MARKETING PLAN
MARKETING PLAN
Name of the Student
Name of the University
Author Note

1MARKETING PLAN
Executive Summary
The Marketing Plan forms an essential aspect of any marketing strategy and for a firm to be
successful in the long run, it is quite important for the organization to ensure that they are
successfully able to engage in an extensive marketing strategy which will assist them in
achieving their objective. The report takes the format of a marketing plan for the chosen product,
a Motiv Ring. The product is a fitness product and has been gaining popularity in the industry.
Therefore, in order to achieve a larger market share, the report provides details on the
Introduction and background of the brand, Situational Analysis, SWOT Analysis, Marketing
Objectives, Marketing Strategy and the Budget along with Indicators. An evaluation criteria has
also been provided.

2MARKETING PLAN
Table of Contents
Introduction and background...........................................................................................................4
Company mission, company objectives, and SBU objectives.....................................................4
Market definition and product or brand background...................................................................4
Evaluation of results and conclusion about problem...................................................................5
Situation analysis.............................................................................................................................6
Internal analysis...........................................................................................................................6
Industry analysis..........................................................................................................................7
Competitor analysis.....................................................................................................................8
Distribution and supplier analysis...............................................................................................8
SWOT analysis................................................................................................................................8
Key issues (SWOTs)....................................................................................................................8
Matrix-plus options....................................................................................................................10
Choice of option (brand positioning).........................................................................................11
Marketing objectives/expected results...........................................................................................11
Marketing strategy.........................................................................................................................11
Decisions regarding marketing mix elements................................................................................13
Objectives for marketing mix elements.....................................................................................13
Strategies and tactics for marketing mix elements....................................................................14
Financial indicators and budgets...................................................................................................16

3MARKETING PLAN
Evaluation criteria..........................................................................................................................20
References......................................................................................................................................21
Appendices....................................................................................................................................24

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Introduction and background
Company mission, company objectives, and SBU objectives
The Company was found by four entrepreneurs who wanted to design a product which
fits comfortably into the lives of the people and helps them in living in a better manner. The four
friends shared a mutual passion to design a product for the benefit of the consumers. The
headquarters of the firm is located in San Francisco. The mission of the company is to provide
convenience and health benefits to the general audience. Moreover, the primary objective of the
company can be stated as follows:
 To gain a large market share in the international market
 To serve the consumers and provide them with premium product design (Garner, 2014).
 To become a globally popular brand
Market definition and product or brand background
The market in which the company aims to provide its products in is the fitness market.
With the recent trend of fitness has become increasingly popular, various health products have
come forward to change the lifestyle of the people.
The product background:
The Motiv ring is a highly advanced wearable device which will change the manner in
which people carry out activities and their sleep measurement. The ring makes use of advanced
technology in an ultralight and slim design. The product provides comfort to the user and is
discreet in appearance (Mymotive.com. ,2018). The ring is just 8mm wide and comprises of a
lithium ion battery, syncing through Bluetooth and an accelerometer. The ring comes in seven

5MARKETING PLAN
ring sizes with colors like Rose Gold and Slate Gray. The ring has been priced at $199 and
includes charger and sizing set.
Figure 1: A snapshot from the company website
(Source: Mymotive.com. , 2018).
Evaluation of results and conclusion about problem
Although the ring is highly beneficial, it has not been able to achieve popularity due to
the poor marketing strategies having been adopted by the makers (Austen, 2015). For this reason,
the marketing plan shall lay down ways in which the marketing and positioning plan of the firm
in order to achieve the company objectives.

6MARKETING PLAN
Situation analysis
The given section of the paper shall carry out the situational analysis of the firm with
respect to factors like Customer analysis, Industry analysis, competitor analysis and supplier
analysis (Macworld.com , 2018).
Internal analysis
Resources and Capabilities
 The company has an access to various assets
 The idea of the product is unique
 The company has a good human resource base
 The company has a good promotional mix.
Customer analysis
There are different groups of people who purchase the fitness and health benefit products
in order to lead a dedicated lifestyle (Zhou & Wang, 2014). Hence, for the motiv ring, the three
main types of customers are as follows:
 The working professionals: These professionals are working for long hours and hence,
the often face problems related to health and other fitness related issues. For this reason,
these customers want to stay healthy and fit.
 Health conscious individuals: These individuals are highly fitness conscious and want to
ensure that they are able to lead a healthy and fit life (Holler, 2014).
 Lifestyle conscious: The third category of individuals are highly lifestyle conscious and
thus they purchase fitness accessories to ensure that they are able to lead a trendy and fit
life.

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Industry analysis
The fitness equipment market is growing at an increasing rate and is expected to garner
around $12885 million by the year 2022. The Asia pacific region is believed to be expecting the
fastest growth. These fitness equipment related equipment’s are used widely for physical
exercises, to manage weight, to improve the stamina, to maintain the sleep cycle and maintain
overall health along with fitness (Symantec., 2014). The primary reason for the growth of this
market can be largely attributed to the Government initiatives, increasing awareness, increasing
obesity and others. The only restriction as present in the market is with respect to the high cost of
these fitness equipment’s.
Other trends can be understood through Porters five forces:
1. Threat of New Entrants-HIGH
The threat of new entrants in the industry is considerably high due to the increase in the
market size (Wilson et al., 2016). Moreover, these entrants bring about innovation and pricing
strategies which may act as a barrier for Motive ring.
2. The rivalry-HIGH
The degree of rivalry is also very high in the given industry with the different players
innovating and taking out new techniques to deal with competition and customer share.
3. Power of suppliers-HIGH
The raw materials are purchased from various suppliers but they possess a high capability
to have an impact on the profit margin of the firm. They have good negotiating power which is
used by them in order to extract profits.

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4. Power of buyers-HIGH
The bargaining power of the different customers is very high as they want to purchase the
best goods at the cheapest price range possible (Size, Size & Wire, 2018). This might put a
pressure on the firm. Moreover, as there exists certain options for the consumers, they might
choose to go for that option which is again an issue.
5. Threat of substitutes-MEDIUM
The threat of substitutes for the fitness products are relatively medium. This is because
each product has its different set of advantages as well as disadvantages.
Competitor analysis
The completion in the industry can be described as cut throat. There are various products
which give direct competition to motiv ring. These brands are Fitbit, Garmin, Polar, Misfit and
Xiaomi. These are fitness tracker bands and equipment’s which suits every activity and is quite
stylish at the same time.
Distribution and supplier analysis
As stated earlier, Motiv Ring like all other fitness oriented products makes use of various
suppliers in order to manufacture a product. With respect to the distribution strategy analysis,
Motiv ring`s main source of distribution is its online channel using the website. It is also
available on channels like Amazon (Prnewswire.com., 2018). In addition to this the brand also
sells it through certain authorized outlets in physical stores
SWOT analysis
Key issues (SWOTs)
Strengths

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The strength aspect of the Motiv Ring makes the product advantageous over the other
goods (Walker & Roshan, 2018). The product is hand free, easy to use and environmental
friendly. Other benefits are as follows:
 It is small in size
 Can be connected to mobile devices
 Accurate in measurements
 Assists in training and fitness program (Kalinauckas, 2015).
Weaknesses
Although the product is quite innovative there are certain drawbacks:
 The price of the product is comparatively very high and hence, this limits the demand in
the market (Park, Kim & Kwon, 2016).
 The product is at its initial stage and hence, the profit margins are comparatively quite
low.
 As the price of the product is quite high and the technology is very advanced so the
coverage is low.
Opportunities
There are several opportunities which the company can exploit and some of them have
been stated as follows:
 The internet of things has brought about several opportunities for the different
companies.

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 The development of the sports industry has contributed greatly to the growth of the
chosen market
 There has been a social shift in the market which has raised the demand for the given
product
 There has been a change in the lifestyle of the people where health has become
considerably important (Endeavour.partners ,2018).
Threats
The major threats which are being faced by the product have been given as follows:
 There exists various security issues with respect to the product
 The product uses lot of energy
 Moreover as data is involved, there exists privacy issues.
Matrix-plus options
Strengths
 small and wearable as a ring
 Hands free
 Accuracy
 Connectable
 Assists in fitness
Weakness
 The product is priced high
 Low profit margin
 Low market coverage.
Opportunities
 The internet of things
 Growth of the market
Threats
 Security issues
 Use of energy
 Privacy issues

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 Lifestyle opportunities
 Change in the social choice
Choice of option (brand positioning)
Hence, after analyzing the different factors with the help of the SWOT analysis, the
opportunities which have been stated prove a ground for a large number of options for the brand
and hence, the brand positioning strategy has been decided upon whereby the company will aim
to improve the popularity of the brand in the eyes of the consumers (McDonagh & Prothero,
2014).
Marketing objectives/expected results
The marketing objectives of the brand are as follows:
 To build the brand awareness of the chosen product
 To target a new set of consumers for the product
 To enhance consumer relationships
The financial objectives of the brand are as follows:
 To incur in a sales volume of 50000 in the first year
 To sell a total of 1 million units in the second year
 To engage in a profit of $100000 in the first year

12MARKETING PLAN
Marketing strategy
The given section will lay down the Segmentation, Targeting and Brand Positioning
strategy of the brand can be given as follows:
Segmentation
The market for the fitness equipment can be segmented on three basic categories. These
categories are the type, end user and the geography.
 End user: Based on the end user segmentation, the market can be easily segmented into
different components like the consumers at home, health gyms and clubs along with other
commercial users (Osterwalder et al., 2014). This has witnessed a growth owing to the
rising global obesity rates as well as the increase in health consciousness.
 Home consumers: The home consumers can also be described as the second highest
revenue contributors to the fitness equipment’s market and has the highest penetration
rate in the States and bound to expand in Europe as well.
 Geography: With respect to the geographical segmentation the motive ring will be
expanded in developed markets like the United States and Europe. Along with this, the
developing regions like Asia Pacific and LAMEA will also be witness extensive growth
and thus will be an aim as the disposable income, health consciousness and obesity levels
have been increasing (Center for Digital Democracy, 2016).
Target audiences
The target audience for the brand –Motiv ring is as follows:

13MARKETING PLAN
 Middle to upper income professionals: These professionals are generally very busy with
their daily lifestyle and tend to prefer wearing easy health and fitness products which
helps them in looing after their health on the go.
 High school and university students: This segment prefers an easy health buddy which
can help them to keep a track of their activities and sleep (Mymotive.com. ,2018).
 Mid to large sized corporations: These companies can have employees more than 100
employees and thus by promoting the product there, the brand can make use of wider
markets
Brand or product positioning
The positioning strategy which will be made use of will be the product differentiation
strategy with the purpose of positioning the Motiv Ring as a versatile, convenient and
comfortable ring which can be used for a professional as well as personal use (McDaniel &
Gates, 2013). The marketing of the brand will be focusing on hand free operations of the ring
which serves as a perfect health partner.
Decisions regarding marketing mix elements
Objectives for marketing mix elements
The marketing mix elements and strategies
Product: The product which is being sold in this case is the Motiv Ring. As stated earlier
this product will be sold in Slate Grey and Rose Gold colour. Moreover, the product will be
available in various sizes. The differentiation strategy of product has been used, whereby the idea
of the ring is quite unique in nature and quite different from other products in the market.

14MARKETING PLAN
Place: The product will be sold in various parts of the globe like the developed country of
Europe and the United States. Moreover, the developing markets shall also be targeted.
Moreover, the use of channels like online mediums and the physical store selling shall be used
considerably.
Price: The price of the Motiv Ring is around 199$. The differentiation pricing strategy is
being used which means that for the unique product quality and design, a hire pricing ranging is
being charged by the organization (Kumar & Bhimasingu, 2015).
Promotion: Various promotional channels like that of social media channels, print media,
and internet marketing and other mobile marketing mediums shall be used. The primary
objective of these promotional strategies will be to ensure that the benefits of these applications
are highlighted and its alternate uses will be presented (Kotler, 2015).
Strategies and tactics for marketing mix elements
The given action plans have been designed for the use of strategies and tactics for the
implementation marketing mix elements. This plan has been formed for a period 1 year. ( Refer
to Appendix 2)
Sr. No Activities Key Metrics Time frame Person
Responsible
Cost
1 Launching a
sales promotion
campaign using
sample testing
by popular
Increase in
the brand
popularity of
the product
on various
3 months Marketing
manager
Brand manager
$ 20000

15MARKETING PLAN
bloggers and
influencers.
social media
platforms.
2 Creating a buzz
using a wide
range of print
media and
mobile phone
advertising
Increase in
customer
requests for
the product
2 months Brand Manager
Social media
expert
$15000
3 Contest method
of advertising
shall be used in
order to ensure
that the
awareness of
the product is
carried out
Number of
participants
in the contest
1 month Event planner
Brand manager
Marketing
Manager
$10000
4 A major print
media
advertising
using various
celebrity
experiences
shall be used
Increase in
the sales after
the product
has been
advertised.
3 months Marketing
manager
Brand manager
$10000

16MARKETING PLAN
5 Using the help
of channel as
well as trade
partners the use
of the product
will be
influenced.
Increase in
the revenues
earned by the
firm.
3 months Marketing
manager
Brand manager
$12000
Financial indicators and budgets
The financial indicators which shall be made use of in the given marketing plan are as
follows:
 Sales: The sales which will be made by the company shall be measured. It will be
analyzed whether the target has been achieved or not (Martelo Landroguez, Barroso
Castro & Cepeda-Carrión, 2013). Along with this, the profit margins shall also be
measured.
 Return on Investments: The ROI shall also be calculated in order to understand the
Returns as earned by the company based on the investments.
The budgets have been given as follows:
CAMPAIGN TYPE QTY PROJECTED
COST PER
UNIT
PROJECTED SUBTOTAL
National Marketing SUBTOTA $

17MARKETING PLAN
L 3,500.00
Banner Ads 5 $
700.00
$ 3,500.00
$ -
$ -
Local Marketing SUBTOTA
L
$
3,850.00
Newspaper 2 $
400.00
$ 800.00
In-Store Marketing 3 $
600.00
$ 1,800.00
POP 5 $
250.00
$ 1,250.00
$ -
Public Relations SUBTOTA
L
$
3,200.00
Public Events 3 $
800.00
$ 2,400.00
Sponsorships $ -
Press Releases 8 $
100.00
$ 800.00
Webinars $ -
Conferences $ -

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Client Events $ -
$ -
Content Marketing SUBTOTA
L
$
7,000.00
Sponsored Content $ -
Landing Page 10 $
700.00
$ 7,000.00
White Papers / eBooks $ -
$ -
Social Media SUBTOTA
L
$
6,800.00
Twitter 20 $
100.00
$ 2,000.00
Facebook 20 $
100.00
$ 2,000.00
Pinterest 10 $
100.00
$ 1,000.00
Instagram 10 $
100.00
$ 1,000.00
Google+ 4 $
100.00
$ 400.00
LinkedIn 4 $
100.00
$ 400.00

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Online SUBTOTA
L
$
5,400.00
Blog 4 $
800.00
$ 3,200.00
Website 2 $
600.00
$ 1,200.00
Mobile App 2 $
500.00
$ 1,000.00
Mobile Alerts $ -
Email Newsletter $ -
$ -
Advertising SUBTOTA
L
$
10,400.00
Online 4 $
1,500.00
$ 6,000.00
Print 2 $
850.00
$ 1,700.00
Outdoor $ -
Radio $ -
Television 3 $
900.00
$ 2,700.00
$ -
$ -

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Web SUBTOTA
L
$
1,500.00
Development 1 $
1,500.00
$ 1,500.00
Pay-Per-Click Marketing $ -
SEO $ -
$ -
$ -
Market Research SUBTOTA
L
$
4,800.00
Surveys 6 $
800.00
$ 4,800.00
Impact Studies $ -
$ -
Sales Campaigns SUBTOTA
L
$
7,000.00
Campaign A 1 $
2,000.00
$ 2,000.00
Campaign B 1 $
1,000.00
$ 1,000.00
Campaign C 1 $
4,000.00
$ 4,000.00
Campaign D $ -

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Campaign E $ -
$ -
Other SUBTOTA
L
$
3,990.00
Premiums 3 $
780.00
$ 2,340.00
Corporate Branding $ -
Business Cards 30 $
55.00
$ 1,650.00
Signage $ -
$ -
Total $ 67,640.00
Refer to Appendix 1
Evaluation criteria
Every marketing plan needs to comprise of a well-defined criteria which will help in the
evaluation of the marketing plan and also assist in identifying whether the product marketing is
gong successfully or not.
1. In half a year at least 25000 units will be sold
2. In 3 months at least $25000 will be earned.
3.

22MARKETING PLAN
References
Austen, K. (2015). The trouble with wearables. Nature, 525, 23-24.
Center for Digital Democracy. (2016). Health Wearable Devices in the Big Data Era: Ensuring
Privacy, Security, and Consumer Protection. Washington, USA: School of
Communication, American University.
Endeavour.partners (2018). Inside Wearables Part 2 — July 2014 – Endeavour Partners –
Medium. (n.d). Retrieved from https://blog.endeavour.partners/inside-wearables-part-2-
july-2014-ef301d425cdd
Garner, C. (2014). American Health Care's Temporal Order. SSRN Electronic Journal. doi:
10.2139/ssrn.2385780
Holler, J. (2014). From machine-to-machine to the Internet of Things. Amsterdam: Academic
Press.
Kalinauckas, A. (2015). Wearable Technology. Engineering & Technology, 10(4), 36-43. doi:
10.1049/et.2015.041
Kotler, P. (2015). Framework for marketing management. Pearson Education India.
Kumar, Y., & Bhimasingu, R. (2015). Key Aspects of Smart Grid Design for Distribution
System Automation: Architecture and Responsibilities. Procedia Technology, 21, 352-
359. doi: 10.1016/j.protcy.2015.10.047
Macworld.com (2018). Motiv Ring. [online]. Available
at :https://www.macworld.com/article/3269439/wearables/motiv-ring-review.html
( Accessed on : 18 Spet. 2018).

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Martelo Landroguez, S., Barroso Castro, C. & Cepeda-Carrión, G. (2013). Developing an
integrated vision of customer value. Journal of Services Marketing, 27(3), pp.234-244.
McDaniel, C. & Gates, R. (2013). Marketing research. Singapore.
McDonagh, P. & Prothero, A., (2014). Sustainability marketing research: Past, present and
future. Journal of Marketing Management, 30(11-12), pp.1186-1219.
Mymotive.com. ( 2018). Fitness Tracker, Sleep Tracker & Heart Rate Monitor | Motiv
Ring. (n.d). Retrieved from https://mymotiv.com/
Osterwalder, A., Pigneur, Y., Bernarda, G. & Smith, A. (2014). Value proposition design: How
to create products and services customers want. John Wiley & Sons.
Park, E., Kim, K., & Kwon, S. (2016). Understanding the emergence of wearable devices as
next-generation tools for health communication. Information Technology & People,
29(4), 717-732. doi: 10.1108/itp-04-2015-0096
Prnewswire.com. (2018). Motiv Ring. [online]. Available at:
https://www.prnewswire.com/news-releases/revolutionizing-the-wearable-experience-
motiv-ring-is-the-first-activity--sleep-tracker-that-fits-seamlessly-into-everyday-life-
300384480.html (Accessed on: 18 Sept. 2018).
Size, F., Size, F., & Wire, B. (2018). Global Stretchable Conductive Materials Market 2018-
2022| Increasing Demand for Wearable Devices to Boost Growth| Technavio. Retrieved
from https://www.businesswire.com/news/home/20180704005227/en/Global-
Stretchable-Conductive-Materials-Market-2018-2022-Increasing
Symantec. (2014). How safe is your quantified self? (pp. 3-26). Symantec.

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Walker, S., & Roshan, R. (2018). Wearable Technology: The Small Revolution is Making Big
Waves. Retrieved from https://technology.ihs.com/api/binary/532944?attachment=true
Wilson, A., Zeithaml, V., Bitner, M.J. & Gremler, D. (2016). Services marketing: Integrating
customer focus across the firm. McGraw Hill.
Zhou, L. & Wang, T. (2014). Social media: A new vehicle for city marketing in
China. Cities, 37, pp.27-32.

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Appendices
1. The marketing budget
3500
6% 385
0
7%
320
0
6%
700
0
12%
680
0
12%
5400
9%
104
00
18%
150
0
3%
480
0
8%
700
0
12%
3990
7%
National Marketing
Local Marketing
Public Relations
Content Marketing
Social Media
Online
Advertising
Web
Market Research
Sales Campaigns
Other
2. The time frame Gantt chart
Activity
1
month
1
month
1
month
1
month
1
month
1
month
1
month
1
month
1
month
1
month
1
month
1
month
1
2
3
4
5