Marketing Plan for Music Lens Glasses: An Australian Market Analysis

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Assessment 2: Marketing Plan
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Executive Summary
The main purpose of this marketing plan is to highlight the marketing strategy for the new
product which is music lens glasses. The main features of this smart glass are that the people will
be able to listen to music, can make calls and tune the glass into the radio. The main findings of
this report are the various strategies through which MusicLens can launch their product in the
Australian market. This states that with the help various methods like situation analysis,
marketing strategy, and target identification, MusicLens can launch the product in the market of
Australia. Examining all these methods will be beneficial for the growth of the business in the
Australian market. The major problems which MusicLens can be faced in order to launch the
product in the International market are determining the price of the product and also to establish
the position of their business in the market. It is recommended to the company to identify their
target market according to the features of the smart glass so that the company can attract those
customers in order to enhance their business.
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Contents
Executive Summary.........................................................................................................................2
Situation Analysis............................................................................................................................5
Company Analysis.......................................................................................................................5
PESTLE Analysis........................................................................................................................5
Competition analysis....................................................................................................................6
Customer analysis........................................................................................................................8
SWOT Analysis...........................................................................................................................8
Problem Statement...........................................................................................................................9
Target Market Identification and Justification..............................................................................10
Objectives......................................................................................................................................11
Marketing Mix Strategy.................................................................................................................12
Product.......................................................................................................................................12
Price...........................................................................................................................................12
Place...........................................................................................................................................13
Promotion...................................................................................................................................13
Budget Allocation..........................................................................................................................14
Implementation and Campaign Evaluation...................................................................................15
Implementation..........................................................................................................................15
Campaign Evaluation.................................................................................................................16
Conclusion.....................................................................................................................................17
Recommendations..........................................................................................................................18
References......................................................................................................................................19
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Introduction
This report shows the importance of market strategy in order to launch a product in the
International market. The main purpose of this report is to show the various marketing strategies
which can be used in order to expand the business globally. This strategy includes the Pestle
analysis of the country on the product, competitive analysis, customer analysis, and the SWOT
analysis. This report examines the various problem which can arise in order to launch a product
in the International market. Various marketing mix strategy is discussed in this report which
shows the impact of these methods on the growth of the business.
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Situation Analysis
Company Analysis
MusicLens Inc was established in the year 2016 and the main headquarter of the company is in
San Gabriel, California. The originator and CEO of the organization is Junyi Liu. The inventory
network of the items launched by the organization is under the senior insight for the provider's
management Dr. Kaiming Liu. It additionally incorporates the Chief of design specialist Su
Mang who is a skill in innovativeness and expansibility.
The sale of the item has focused on the internet shopping market and the item can be purchased
from different web-based shopping sites like Amazon, Alibaba, and eBay
In the last few years, it has been examined that the clients have seen the results of MusicLens
Inc. as a fun and energizing background and the organization has fabricated a strong relationship
with its clients by satisfying the needs of the customers through the progression of its items and
its utilization in their day by day lives (Repka, 2013).
The smart glasses are designed to listen to music through bone conduction which is secure for
the eardrums. It is furnished with the element of smart touch subsequently making the item
helpful to use by finger touch. Customers can also answer the call with the help of smart glasses.
PESTLE Analysis
 Political factors- Company is planning to launch the product in the market of Australia.
This will be beneficial for the growth of the company because the political factors of
Australia are in favor of the company. Government of Australia provides subsidies to
new business which will be beneficial for MusicLens in order to establish their business
in the Australian Market.
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 Economic factors- Profits of the business depends on the sales of the company. The
current economy of Australia is quite high and it will be beneficial for the MusicLens to
launch a high tech product like Smart glass in the market. The currency of the country is
also in favor of the company (Parnell, et. al., 2017).
 Social factors- In Australia, the majority of the population is the youth. They are the
people who are in the age of between 18-30 years. This will be a good prospect for the
company because smart glass is the music product which will attract young people more.
Due to which the product will get popular easily in the market of Australia.
 Technological factors- Smart glass is made up of high tech algorithms and high
technology which allow the users to listen to music with the help of smart glasses.
Australia is always known for its high technology and most of the population prefer high
tech products. AS the product of MusicLens includes all the high technology, it will be
beneficial for the company to generate sales in the market of Australia.
 Legal factors- Company need to follow the legal rules and norms of the country before
launching a product in the Australian Market. This is because the marketing of the
product needs steadiness with the legal and constitutional framework. There can be
different laws related to market strategies in Australia. In order to avoid any legal issues,
it is necessary for the organization to follow those rules and policies of the government.
 Environment factors- People of Australia is quite worried about the environment due to
which they prefer to choose eco-friendly products over any other products. Smart glass
has been designed by using anti-allergy material which is safe to use. Smart glass also got
certified from Global Quality Services.
Competition analysis
With the evolution of technology at a rapid pace, there is an immense amount of competition
available in the market. Every company is launching products which include high technology in
order to establish their business in the international market. MusicLens is not the only company
which has launched Smart Glass product in the market. There are many other companies as well
which launched this product (Hernández-Fernández, et. al., 2019). Those companies are giving a
tough competition to the MusicLens. These competitors are mention below:
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Company Specifications
Google Glass Enterprise Google glass is the main competitor of
MusicLens as the product of the company
consists of a various advance feature at a
very affordable price. Google Glass
Enterprises advance features are
 Google glass can establish a
connection with the internet.
 Language command is the other
advance feature in the Google Glass.
Gogloo’s E6 camera smart glasses This is another competitor of MusicLens as
the product of the Gogloo’s E6 camera
smart glasses allow the user to record the
moments. Other features are
 It can record full HD videos
 It has a 110-degree wide angle
camera
 Dual stereo microphone
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Customer analysis
The major focus of MusicLens smart glasses will be the young generation from the age bunch 15
to 30. These are the people who are fond of music more. These people will be the desire
customers of the company. Thus the music lovers are the target of the MusicLens for the
dispatch of their smart glasses. The primary market for smart glasses is the youthful age who
lean toward agreeable and convenient gadgets. The organization likewise focuses on the experts
who can utilize smart glasses while driving and in other activities (Anderson, et. al., 2013).
Product is manufactured in such a way that it is easy to use and carry. The product consists of
various advanced features which will grab the attention of the young generation as the young
generation always prefer gadgets which consist of advanced technologies.
SWOT Analysis
Strength- Major Strength of the company is that it provides advanced technology in its products
and also all the advance features customers are looking for. Another strength is that its products
are easy to use and can utilize on a daily basis.
Weakness- The major weakness of the company is the lack of offline market. The company only
deals with the online market due to which there is a lack of customers. Other weakness is the
limitation of the targeted market of the company.
Opportunities- Extensive use of gadgets consist of advanced features is the big opportunity for
the company as they can easily establish their business with their high-tech products. The
organization can target music lovers more (Reibmann, et. al., 2018).
Threats- One of the major threat to the company is the growing competition in the industry of
smart glasses. Many companies launching their smart galls with different advanced features. This
can affect the business of the MusicLens
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Problem Statement
MusicLens launch its product smart glass in the year 2019 with the aim of satisfying the needs of
people through its latest advance technology feature. Company is planning to launch its product
in the market of Australia in order to enhance the growth of their business. Various problems a
company can face after the launch of their product in the Australian market (Hinterhuber &
Liozu, 2014). These problems are as follows:
Price of the products- the price of the product can be the main problem for the company as the
product is quite expensive as compared to the other smart glasses because of the inbuilt of
various advanced features in the product. As a result, many customers will prefer cheap smart
glasses due to which it can affect the growth of the business.
Difficulties in Positioning- Company can face many problems in order to position their business
in the Australian market. This is because several other competitors of the MusicLens already
position their business in the Australian market. It will be difficult for the company to attract the
customers of those companies and position their business in the market.
Lack of Awareness about the product- Lack of awareness about the product in the people of
Australia can cause many problems for the company. Company is needed to advertise their
products in Australia so that people get to know about the product and its latest technologies
(Vivian Eugenia Da Matta, et. al., 2015).
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Target Market Identification and Justification
Target market identification is an important part of the company in order to sell their products
and services in the market. The company needs to identify their desires target so that it will
enhance the growth of the business by targeting that market. Target market depends on the
preference of the services of the product. Features of the products decide their target market. As
there are different people with different preferences. The company needs to target those people
who are suitable according to the features of their products (Schwarzl & Grabowska, 2015). This
will save them lots of time for the company and increase the productivity of the organization.
MusicLens can decide their targeted market according to the features of their products. There are
three markets which have been identified for the MusicLens in which the company can launch its
product, these markets are as follows:
 Young generation- Company can target the young generation, as most of the youth
prefer to purchase products consist of various advanced technology. Targeting young
people will be beneficial for the company as smart glass will easily grab the attention of
the people. This will assess the company in its development and also it will enhance the
growth of the organization.
 Music lovers- Company can target music lovers in the country, as these are the people
who love to listen to music at any cost. The smart glass would be the best gadget for them
as with the help of smart glass, they can easily listen to music without facing any
problem. This is secure to their eardrums and sound quality is also great. By targeting
music lovers, the company can easily generate profits.
 Tech Savy- People who have an immense interest in the latest technologies and products
come under the category of Tech Savy. Smart glass has been designed with the latest
technology and consist of the various latest feature. This will attract the tech Savy and
company will be able to expand the m=business in the Australian market more by
targeting the tech Savy.
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Objectives
It is necessary for the organization to consider various objectives in order to target the desired
market for its product smart glass. This objective can be SMART.
 Specific- Goal of the company should be specific so that the company can be able to
target the market according to the goals of the corporation. Smart glass is a high tech
product and the specific goal of the company can be fulfilling the needs of the music
lovers.
 Measurable- Objective of the company should be measurable so that they can measure
the number of profits. The company can measure its profits by examining the number of
customers available in the market.
 Achievable- The goal of the company should be achievable. With the launch of smart
glass in the market, the company can lead the market. If there will be the arrival of a
competitor with the same product in the market then the company can make some
changes in the product in order to lead the market (Lee, et. al., 2015).
 Relevant-Goals of the organization should be relevant and significant. With the launch of
smart glass, the company can be able to satisfy the various needs of the customers with
the help of only one product. With the help of smart glass, customers not only listen to
music but also they can do this on a daily basis without any effect on their eardrums or on
their eyes.
 Time-bound- Company can set the time period for the launching of product in the
Australian market. They can wait for the desired time in order to launch their product in
the Australian market.
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Marketing Mix Strategy
Product
The highlighted product in the whole marketing plan is the Music Lens which includes the
tremendous features Bluetooth, 9 hours of continuous play, 4GB of offline storage along with the
availability of prescription lenses. These glasses are powerful, cheaper & very stylish. This
product is being loved by all music lovers. The quality of sound is also four times better than any
other system. The product enables the people to enjoy their life & music of their likings along
with carrying the music lenses. The polarized lenses are being utilized by these sunglasses which
help in blocking of the 98% of the UV rays & the inferred radiation. The product also includes
the effective feature of radio with the bone conduction, which means that the crystal-clear sound
is being provided by the music lens. The earphones are also not required to the people. This
product is a completely safe & high level of privacy is being ensured as the other person cannot
listen or hear to any of the things because it works like earphones.
The fashionable designs of these sunglasses are available in three types including the modern,
vogue & geek styles. The frame of these lenses is also very lightweight, carrying the weight of
37 g only. The people can also answer their phone calls along with listening to their favorite
music. The glasses are also available in different colors including the black mirror mercury &
limited Robin Egg Blue along with the huge battery life of approximate 6 to 9 hours each day.
Price
The concept of music lenses includes the first sunglasses which can be affordable by each &
everyone, only because of its wide varieties of practical uses. The prices of sunglasses are being
categorized in accordance with the available fashionable designs in the competitive business
market (Tsimonis & Dimitriadis, 2014). Following is the categorized price of the music lenses:
Categories Price
Modern 189 US Dollars
Vogue 169 US Dollars
Geek 129 US Dollars
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