Sample Marketing Fundamental Report

Marketing Fundamental Report Sample

Brief-

The third assessment task requires the submission of TWO (2) items (i.e., one Word file)

You are to write and make a presentation on marketing objectives, marketing strategy, social responsibility, ethics, and legal issues for the new product chosen in the second assessment task.

The written component should be 1500 words maximum excluding the title page and reference list. The presentation component will be in PowerPoint format with recorded voice-over, limited to 6 slides (including title slide and references slide) and no longer than 5 minutes in duration.

Assume that the new product selected in the second assessment task is viable for market entry into Australia. The decision has now been made by senior management to launch this new product into Australia sometime in 2023 or 2024.

Your task is to prepare marketing objectives, marketing strategy and examine social responsibility, ethical and legal issues when marketing your new product in Australia.

You will need to address the following criteria:

Propose and justify three (3) marketing objectives you think are achievable within the first six months of product launch (e.g., sales targets, product awareness, customer retention and satisfaction, brand management); Justify market segments for one (1) primary targeted customer and outline your intended positioning; Propose and justify marketing strategy for two (2) of the 4Ps; and Examine one (1) social responsibility, one (1) ethical, and one (1) legal issue when marketing your new product in Australia.
Instructions

This is an individual assessment (no groups).

Whilst developing your written component and presentation component, it is expected that you share ideas and insights on the Moodle forums.
Submit both your written component and presentation component online through the Assessment tile on the unit Moodle site.

Your written component should contain the following:

A single Word document (no PDF), including a title page, that addresses each of the 4 criteria listed above plus a reference list, using APA referencing style.
Use in-text of at least ten (10) quality sources of information such as from academic journal articles, academic textbooks, trade journals, newspaper articles and industry/business websites.

Use size 12 font with 1.5 line-spacing in this Word document.

A summary only of key information in your written Word document.
The format will be PowerPoint with recorded voice-over (no word limit) but limited to a maximum 6 slides (including title slide and references slide) and be no longer than a maximum 5 minutes in duration.

Skills

The written component consisting of the marketing objectives, marketing strategy, social responsibility, ethics and legal issues are all integral elements of a marketing plan. Using PowerPoint with recorded voice-over enhances professionalism and helps keep the viewer's focus during presentations.
This is a challenging assignment. It will provide you with the opportunity to undertake a significant piece of work with a practical commercial application.

Solution

Introduction

Our firm will have the wonderful chance to introduce the TOM Electric Foldable Scooter to the Australian market. For Assignment Help, The marketing goals, strategy, market segmentation, and ethical, legal, and social responsibility factors for the effective introduction of our product into Australia are described in this marketing plan.

Marketing Objectives

1. Achieve 10,000 Units in Sales within Six Months

Justification: The team showed our dedication to market penetration by setting a sales goal of 10,000 units during the first six months. Based on market study, demand analysis, and competitor sales in the Australian electric scooter industry, this aim represents a credible projection.

2. Attain 30% Brand Awareness among Urban Commuters

Justification: Increasing brand recognition is essential to the success of our product. As a key market group, metropolitan commuters are a target audience for management (Kubiczek, and Hadasik, 2021). In the first six months, TOM will become a recognizable and dependable brand in the electric scooter market by achieving a 30% brand recognition rate.

3. Maintain a Customer Satisfaction Rate of 90% or Higher

Justification: For brand loyalty and effective word-of-mouth marketing, customer pleasure is crucial. In order to maintain a customer satisfaction score of 90% or more, management pledges to provide great customer service and product quality. The long-term brand management plan is consistent with this goal.
Market Segmentation and Positioning

Target Customer: Urban Commuters

In Australia, the major and most profitable market sector for TOM Electric Foldable Scooters is urban commuters. Numerous compelling arguments support this decision. Rapid population expansion is causing significant traffic congestion and environmental issues in Australia's largest cities, including Sydney, Melbourne, and Brisbane. Urban commuters in these places are actively looking for practical and environmentally sustainable transit options to address these problems.

Rising Urbanization: Major metropolitan regions are home to a sizeable section of the population of Australia, where the pace of urbanization is steadily rising (Paepcke-Hjeltnessand et al., 2023). This demographic transition has increased everyday commuting, opening up a sizable market for practical and effective transportation options.

Environmental Awareness: Urban Australians, in particular, have demonstrated an increasing awareness of environmental sustainability. They look for transportation solutions that help the environment by lowering their carbon impact. People who travel in cities are more inclined to use environmentally friendly options like electric scooters.

Traffic Congestion: Australia's major cities frequently experience traffic congestion, which prolongs and aggravates regular journeys (Weber, 2023). Electric scooters are an enticing alternative for urban commuters who are actively looking for mobility solutions that will assist them in smoothly navigating through congested streets.

Positioning: TOM Electric Scooter as the Ultimate Urban Mobility Solution

Management will promote TOM Electric Scooter as the best urban mobility option in Australia in order to successfully grab the urban commuter market. The following salient characteristics of the product support this positioning:

Foldable Design: Urban commuters will find the folding TOM Electric Scooter to be quite portable and practical. It is simple to travel on public transit, store in compact areas, and utilize for the final mile of a journey (Corno et al., 2019).

Long Battery Life: Our scooter's long battery life allows it to go long distances on a single charge, providing it a dependable means of transportation for regular commutes without the need for constant recharging.

Eco-friendliness: Because it uses clean electric power and produces no emissions, the TOM Electric Scooter helps to reduce air pollution. Urban commuters in Australia who respect sustainability will find this to be a wonderful fit.

Convenience and Efficiency: Urban commuters may avoid traffic jams, shorten travel times, and reach their destinations faster with the help of our scooter, all while reducing their impact on the environment.

Marketing Strategy

Product: Product Customization and Features Enhancement

A specific product strategy is required to enable the successful launch of TOM Electric Foldable Scooter in the Australian market (Khateeb et al., 2019). The most important thing is to adapt our electric scooter to the unique requirements of the Australian market. Incorporating elements that appeal to Australian consumers and set our product apart from rivals is part of this.

Durable All-Weather Design: From sweltering summers to soggy winters, Australia has a variety of weather patterns. We will have an all-weather, tough design on our electric scooter to solve this. This makes sure that motorcyclists may use our equipment with assurance all year long, regardless of changes in the weather. The Australian market places a high emphasis on dependability, and this feature will position our product as a reliable option.

Longer Battery Life: Australian cities frequently have vast metropolitan environments, which forces many urban commuters to have lengthier journeys (Anderson, and Anderson, 2019) . The management of our scooter will improve the battery life so that it can travel farther on a single charge in order to meet this demand. This upgrade guarantees that customers may finish their daily excursions without having to stop and recharge frequently, making our scooter a useful option for Australians.

Enhanced Safety Features: For Australian customers, safety comes first. Management will add additional safety features to our product to boost consumer confidence, including stronger braking systems, LED lighting for increased visibility, and a sturdy frame design. These improvements to safety emphasize our dedication to rider safety and are in line with Australian rules and consumer expectations.

Promotion: Influencer Marketing and Social Media Advertising

Management will put into action a comprehensive marketing plan focusing on social media advertising and influencer marketing in order to effectively sell TOM Electric.

Foldable Scooters in Australia and create brand recognition among our target demographic of urban commuters.

Influencer Marketing: It will be crucial to collaborate with local Australian influencers who appeal to urban commuter consumers and share our ideals (Lee, 2021) These influencers may recommend our product to their audience by sharing their own experiences with it and highlighting its advantages. This strategy not only reaches our target audience but also strengthens the authority of our business because customers frequently believe the advice of influencers they pay attention to.

Social Media Advertising: Our ability to connect with more urban commuters will increase as a result of leveraging well-known social media sites like Instagram, Facebook, and Twitter. In order to showcase the practicality, environmental friendliness, and cutting-edge characteristics of our electric scooter, management will provide interesting and aesthetically pleasing material. With the use of social media advertising, we will be able to target particular geographic and demographic groups, making sure that people who will be most interested in our goods see our message (Lockton, and Harrison, 2019)..
Ethical, Legal, and Social Responsibility Considerations

Social Responsibility: Sustainability and Environmental Impact

Australia has been a world leader in efforts to save the environment and promote sustainability. As a result, it is morally necessary and not merely a strategic decision to align our electric scooters with these ideals. Our dedication to social responsibility in this respect includes several essential components:
Eco-Friendly Materials: When building our electric scooters, management will find and use environmentally friendly materials (Jovicic, 2020). This includes utilizing recyclable and sustainable materials for parts and packaging. Management helps create a cleaner, more sustainable world by minimizing our production-related environmental impact.

Recycling Programs: For our electric scooters, management will conduct thorough recycling procedures. This entails planning the recyclability of our products as well as offering information to clients on correct disposal and recycling practices. Thus, management may actively contribute to the circular economy and lessen the effects of electronic waste.

Responsible Usage and Disposal: Management will encourage consumers to use and dispose of our scooters responsibly. This involves educating riders on environmentally responsible riding habits, promoting shared transportation to cut down on the overall number of cars on the road, and providing incentives for users to return used scooters for recycling or refurbishing.

Ethical: Data Privacy and Security

Building confidence with our consumers requires upholding the highest ethical standards for data privacy and security (Kotler, 2019). These actions are justifiable based on the following:

Robust Data Protection Measures: In order to secure consumer information, management uses cutting-edge data protection technologies and procedures. For the purpose of preventing data breaches and illegal access, this also includes encryption, access controls, and routine security assessments.
Informed Consent: An unbreakable ethical rule is to obtain informed consent before collecting or using any data. Customers will be informed of our data-gathering policies clearly and concisely by management, who will also give them a chance to opt-out if they so choose.

Transparent Communication: Management shall communicate our data processing methods clearly and openly (Kubiczek, and Hadasik, 2021). This includes a thorough privacy policy that details the data that is gathered, its intended uses, as well as how it will be handled and safeguarded. In addition, management will alert customers right away in the case of a data breach, illustrating our dedication to openness and responsibility.

Legal: Compliance with Safety Regulations

The safety of our consumers and avoiding any legal problems depend on us complying with safety requirements, which is not only a legal necessity but also a crucial component. Several factors support this commitment, including:

Thorough Safety Testing: Management will carry out extensive safety testing on our electric scooters prior to their release in Australia to make sure they adhere to or surpass all necessary safety regulations (Paepcke-Hjeltnessand et al., 2023). This involves checking vehicle stability, brake effectiveness, and electrical safety.
Regulatory Compliance: Management shall carefully abide by all applicable safety laws and guidelines established by Australian authorities. This involves adhering to the specifications for labeling, the certification procedures, and continual inspection for any updates or modifications to the safety rules.
Product Liability Insurance: Management will keep product liability insurance coverage in order to reduce litigation risks. In the case of product-related mishaps or claims, this insurance will offer financial protection, guaranteeing that our clients are fairly paid (Weber, 2023).

The findings clearly defined marketing goals, a focused marketing approach, and a dedication to ethical, legal, and social responsibility issues will all be important factors in the successful introduction of TOM Electric Foldable Scooter in Australia. Management wants to promote our brand as a reliable and sustainable option in the electric scooter industry by concentrating on the requirements of urban commuters and aligning with Australian values.

References