Motiv Ring Company Marketing Plan - Strategy and Objectives

This report provides a detailed analysis of the marketing plan for the Motiv Ring Company, focusing on segmentation, targeting, and positioning approaches to enhance market position. It identifies marketing and financial objectives, including product review, competitor analysis, and profit margin attainment. The report formulates a detailed marketing strategy based on product positioning, targeting upper-middle-class customers and students, and differentiating the product as valuable and convenient. Key elements of the strategy include product, pricing, place, and promotion strategies, with a budget allocation for the promotion mix and an action plan for product launch. The report also includes a breakeven analysis and control measures to ensure the success of the marketing initiatives. Desklib is a platform where students can find similar solved assignments and study tools.

Marketing Planning 1
Marketing Planning

Marketing Planning 1
Executive Summary
The purpose of this report was to analyze the different aspects and approaches that are related to
Motiv Ring Company marketing. Marketing is utilized as a vital aspect that needs to be observed
by every form of business organization in order to understand the dynamics that are associated
with the business working. In this report, different approaches, which are related to the
segmentation, targeting and positioning are identified. For this, it helps the company to retain
good market position. This had assisted in the better and reliable judgment on all the aspects
related to the market terms. Further provided the project work addresses on the effective and
enhanced focus on the objectives related to the marketing and financial aspects. In addition, the
report work had highlighted on the elaborated formulation of the marketing mix strategy that
needs to be focused by the authorities of the Motiv Ring Company so as to have a proper and
effective allocation of the budget.

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Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Segmentation, Targeting and Positioning Approach.......................................................................5
3 Marketing Objectives....................................................................................................................7
3 Financial Objectives.....................................................................................................................8
Formulation of detailed Marketing Strategy....................................................................................9
Evidence of Research....................................................................................................................13
Mechanics......................................................................................................................................13
Conclusion.....................................................................................................................................14
References......................................................................................................................................15

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Introduction
The report provides elaborated understanding of all the aspects and approaches that are related to
the marketing so that enabling the authorities of the Motiv Ring Company. This report focuses
on the various approaches of the marketing along with the significant marketing factors. Position
can be attained by the company in terms of the competitors. Further provided, the project report
has discussed on the proper layout of the promotion strategy that can further assist in the
allocation of the budget so that better work patterns can be conducted. The project report has also
provided for the suitable and appropriate recommendations and suggestions that can assist the
authorities of the Motiv Ring Company in making proper and effective judgment leading to
better and suitable position in the market arena.

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Segmentation, Targeting and Positioning Approach
Figure 1: Approaches to marketing
Segmentation Approach
While the conduct of the activities and events of the Motiv Ring Company, the authorities are
required to have proper and elaborated focus on the segmentation. The concerned approach
requires the authorities to narrow their focus on the better promising groups. Further, this will
enable the management to divide the total market into small groups as per the needs and
requirements (Anderson, 2014). With the concerted approach the company will be able to grasp
the following benefits through which better command can be attained:

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 Supports in the better and elaborated identification of the needs and requirements of the
customer so as to provide them with an enhanced level of satisfaction.
 Supports in the authorities to precisely meet the demands or requirements of each customer.
 Supports in the formulation of the effective strategy that can lead to the better and systematic
operations so that to attain a large share in the market arena (Gillespie & Riddle, 2015).
 Supports the better and effective working in relation to the activities of the competitors
thereby creating a positive value in the market arena.
 In addition to the attraction of the customer, the approach of segmentation supports in the
retention of the customer for the long prospect of time (Gillespie & Riddle, 2015).
Targeting Approach
The approach is basically concerned with the selection of those sets of the customer to whom the
business wants to sell its products and services. The concerned approach is much broader as it
focuses on the dividing of the market and then after the suitable and effective evaluation
selecting the target portion (Donaldson & Joffe, 2014). This will assist the company in
developing a prime focus on the required set of the customer. Further provided, the approach will
enable in the formulation of the strategy in which a major focus can be set on the more
elaborated demand of the existing customers so as to retain them for the long run. With the
concerted approach the company will be able to grasp the following benefits:
 Supports the identification of the key customers that can act as a tool of value for the
overall company.
 Supports in the better and suitable understanding of the behavior of the customers so as to
satisfy their needs in an effective manner.

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 Supports in the ascertainment of the areas that can be more profitable to the working
patterns of the business.
 Supports the capturing of the new areas that can be more beneficial for the company.
Positioning Approach
The positioning approach focuses on the formulation of the overall strategy that supports the
business concerns engaged in the conduct of the activities in the attainment of the better position
in the market in terms of the competitors through the creation of the effective brand value.
Further, the approach focuses on the modification of the behaviour of the individuals in a
positive manner towards the products and services that are being offered (Donaldson &Joffe,
2014). With the concerted approach the Motiv Ring Company will be able to grasp the following
benefits:
 Supports in the better and effective analysis of the market needs and expectations.
 Supports in the better and effective understanding of the attributes related to the price and
quality such that to have better command on all the aspects.
 Supports in the grasping of the appropriate technology so as to upgrade the products
leading to better survival in relation to the competition ( Baker and Sinkula, 2015).
3 Marketing Objectives
The objectives of the marketing are basically concerned with the promotion of the product and
services in the wide market so as to attract large sets of the customers. The manner of marketing
may be different for different individuals. However, their purpose is the same that is to attain a
better and strong position in the market arena ( Baker&Sinkula, 2015). The three objectives of
the marketing that is required to be focused on by the Motiv Ring Company involve:
Objective 1: The review of the product

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This involves proper evaluation of the benefits and the negative aspects that are associated with
the products that are being offered by the concerned company. This is because it will assist the
company in the proper and effective variations that can better satisfy the needs of the customer
from a greater segment.
Objective 2: The review of the competitors
This involves a proper and elaborated focus on the strategies that are being adopted by the
competitors from time to time so that to make suitable variations in the current policy structure
leading to the better dealing with the competition.
Objective 3: The review of the channels
In the concerned objective the marketer focus on the various channels of the distribution that can
be adopted by the company that can lead to the maximum benefits (Armstrong, et. al., 2015).
3 Financial Objectives
Financial objectives are the objectives that are basically concerned with the ascertainment of the
better profit margin. The various financial objectives of the Motiv Ring Company involve:
 Attainment of the higher profit margin.
 Attainment of the suitable growth and expansion.
 Attainment a better command on the aspects related to the diversification (Armstrong, et.
al., 2015).

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Formulation of detailed Marketing Strategy
The marketing strategy of Motiv ring is basically based on the product positioning so that the
differentiated product can be distributed which turn may help in capturing the market share. The
main target customers are upper-middle-class customers who need the fitness tracker in their
busy lives to evaluate their calories burn (Larimo, et. al., 2018). The secondary target for same is
the students who are using this device for their fitness purpose. So, the segmentation which is
used is demographical which can be said that the segmentation has been done according to age.
The business target is the corporations as it will help managers and others in assessing the critical
information for their office (Larimo, et. al., 2018).
Positioning: Through the product differentiation the Motiv Ring is positioning its product as the
most valuable and the convenient model for the purpose of personal and professional use (The
marketing mix, 2017). The marketing is focused on making the ring of fitness waterproof so that
the position can be gained in the market than that of competitors.
Product Strategy: The Motiv ring sells approximately 100 of products with diversified features
and the warranty for one year (Huang & Sarigöllü, 2014). The integral part of the Motiv ring is
to develop its own brand. It is planning to develop more innovative and powerful products in the
coming year so that the sales for it can be increased.
Pricing Strategy: The price for all the products are kept differently, which depends upon the
features it possesses. The basic price for the retail is kept at $199 per ring (Huang & Sarigöllü,
2014). With this, it is also expected to lower the prices when the product line will be expanded
which will be done by launching 14 different products at the same time so that the catering

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demands of the customers can be met. The prices are reasonable which will help in attracting a
large number of channel partners (Larimo, et. al., 2018).
Place Strategy: The channel strategy is to sell the Motiv ring through various stores and retail
showrooms. With this, the online platform is also used as a channel for distributing the products.
The investigation has also been done at the initial stage so that the coverage can reach to the
metropolitan markets as well as the online websites (Huang & Sarigöllü, 2014). In the support
for the channel partners, Motive will provide the products through demonstration by determining
the specifications of the product so that the customers can get encouraged to purchase the
products as compared with that of competitors.
Promotion Strategy: The promotion of Motiv rings has been done through various channels
such as media and the advertising agency so that the awareness about the product can cater the
large customers before the launch of the product (Huang & Sarigöllü, 2014). The advertising will
also help in maintaining the brand awareness and will help in communicating various messages.
The user-generated videos will also be created and this will be used for doing promotion through
websites. The trade sale promotion and the person selling will also be done in order to retain and
attract the customers and also for motivating the channel partners (Huang & Sarigöllü, 2014).
Budget Allocation for Promotion Mix
Action Programmers
The launch of the Motiv Ring will be done in March. The action plan for the whole month of
March has been so that the commercialization of the product can be done (Key differences,
2015).
Actions Start Date Finish Date Time Duration

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Collection of Data 1-03-2018 8-03-2018 8 Days
Analyze 9-08-2018 15-03-2018 7 Days
Evaluation and
developing design
16-03-2018 19-03-2018 4 Days
Demonstration 20-03-2018 24-03-2018 5 Days
Feedback 25-03-2018 26-03-2018 2 Days
Testing 27-03-2018 29-03-2018 3 Days
Final Product Launch 30-03-2018 31-03-2018 2 Days
Gantt chart
Budget
The sales volume for the first year has been projected to $75 million with the average wholesale
price of $150 per unit of the ring the variable cost is $100 (Money matters, 2018). The losses are
projected up to $8 Million. The breakeven point is a follows:
=$32500000/$150-$100
= 650000 units
So, this can be evaluated from the calculation above that the heartbeat tracker ring will be
profitable when the sales volume for the tracker will exceed 650000 units (Money matters,

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2018). While calculating the break even it has been assumed that the fixed cost is $32.5 million
and the variable cost is $100 per unit while the revenue of wholesale price is $150.
Control
The measures are also taken for the control so that the quality of the ring can be tracked and the
customers can be satisfied. The timely monitoring will enable that the problems will be solved on
the timely basis (Money matters, 2018). With this, the evaluation of weekly revenues and the
expense will also be done so that the measures to control the expenses can be taken and may help
in achieving profitability within the organization. With the contingency plan, it will be easy to
cope up with the environmental changes as well as the new competitors in the market (Money
matters, 2018).

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Evidence of Research
The marketing plan which is made up of various dynamics that is associated with respect to the
marketing are discussed so as to analyze the requirements of the customers as well as the
requirements of the market. Further, all the aspects with positive and negative discussions have
been provided enabling the authorities to make a better judgment with respect to the functioning
of Motive Ring. Various sources are considered so as to evaluate each and every aspect in an
effective manner.
Mechanics
Through the marketing mechanism, it will be ensured that the planning which has been done will
help in achieving the sales target as well as the objectives which are being set for the promotion.
With this, the objectives which are set will also ensure that the key areas which are for the
growth and development of the Motiv Ring Company are also identified and implemented. The
proper advice of the professionals will also be taken so that the business can lead towards the
right direction, which in turn will help in achieving the organizational goals easily and
successfully.

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Conclusion
From the overall report, it can be summarized that the report gave an understanding about the
various marketing plans which are being used by Motiv Ring. The benefits of the products which
are being produced by Motiv Ring is also explained which has revealed the advantages of
launching the products so that the customer needs can be satisfied. The discussion of
segmentation, positioning, targeting and is also determined which will help in analyzing the
better position in the competitive market. The upper middle class has been targeted as it will help
to increase the profitability of Motiv Ring by sustaining in the competitive market. The
marketing mix strategies reveal that these strategies when implemented will enable to capture the
market and will also help in increasing the market share. The proper budget for Motiv Ring is
also prepared which will help in minimizing the expenses of organization and maximizing the
revenue.

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References
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Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to the market outcome, brand
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from: https://keydifferences.com/difference-between-domestic-and-international-marketing.html
Larimo, J., Zucchella, A., Kontkanen, M., & Hagen, B. (2018). Patterns of SME’s Marketing
Mix Combinations and Their Characteristics in Export Markets. In Advances in Global
Marketing, 333-364.

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Look fantastic (2018). Butter London. Retrieved from:
https://www.lookfantastic.co.in/brands/butter-london.list
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from: https://accountlearning.com/elements-of-marketing-mix-decision/
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