Free Samples
MKTG7028 Digital Marketing Communications
.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}
MKTG7028 Digital Marketing Communications
0 Download5 Pages / 1,094 Words
Course Code: MKTG7028
University: Australian National University
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Question:
Task Description
This assessment task requires you to conduct a situational analysis that consists of a comprehensive external and internal analysis for a new product or service.
You are required to prepare a 5 minute PowerPoint presentation.Your presentation should show an application of marketing concepts, theories, tools and models discussed in the unit until week 5 to that new product.
Answer:
Background information
Motiv is a company that makes and produces small lightweight fitness trackers (Motiv, n.d). The company was founded by Curt von Badinski, Peter Twiss, Mike Strasser and Eric Strasser and established headquarter at 179 11th Street San Francisco, CA. 94103 USA. Together they designed and produced a motiv ring which one of its kind stylish fitness tracker that is unlike the traditional wearable fitness gadgets, it fit in a ring.
Situation analysis
Market Analysis of Motiv ring
Motiv ring is a new device in the market and therefore a strategic plan needs to be adapted for market penetration. A better understanding of the market is the key to popularizing the product. Under market analysis much on customers will be addressed as well as competition (Ho?ller, Boyle, Karnouskos, Avesand,Mulligan, & Tsiatsis, 2014).
Market Analysis of Motiv ring
Market demographics
The customer profile for Motiv ring consists of the following geographic, demographic, and behavior factors.
Geographic factors
Demographic
Behavior Factors
Market Needs
Motiv Company provides its customers with a health care cost management program for employees that increase employee productivity and decrease overall business costs (Chester, 2017). Motive seeks to offer the following benefits that are important to their customers:
Convenience – the company have realized how convenience affects consumption, and therefore, it makes motiv ring convenient to customers the best way possible.
Result-oriented service – Motiv is working to improve the market strategy in order to increase and maintain it, customers. The company strives to address the customers’ needs to gain much-needed customer loyalty hence attract more market (Kumar, & Bhimasingu, 2015).
Customization – the motiv ring is customized to fit the needs and requirements of customers (Kumar, & Bhimasingu,2015)
Competitors
The main competitors for Motiv ring are:
YMCA – this Motiv rival market to the low-income people who are looking for affordable fitness devices
Basic fit – is a large company in Europe where it is a market leader. Its model is to offer affordable fitness services to the clients by use of membership plans.
RedBrick Health – offers health management services to its clients. It focuses on managing the wellness of their customers by offering health initiatives that fit them.
Huami – is the biometric and data-driven company the offer services in smart wearable devices. Has branded itself in the market with own devices which directly compete with Motiv ring.
SWOT Analysis
This is one of the widely used concepts for analyzing a company and a product. In case, motiv requires market and product analysis. The analysis is used to evaluate the strengths, weaknesses, opportunities, and threats in the company and the product.
Strengths
Weaknesses
Opportunities
Threats
Strengths
These are features of Motiv that are advantageous over the other products. The Motiv ring has the advantage of being hands-free, environmentally friendly, and convenient. Other advantages include:
They are small and wearable as a ring
They offer better experience via an internet connection with mobile devices
The devices are scientific and accurate on the data sent to the users
They help the users with the training and fitness program
Weaknesses
Although a groundbreaking device in the market of wearable devices, Motiv ring has weaknesses which are a deterrent to their market (Austen, 2015).
These concerns reflect the wearable fitness equipment are affected by several inherent downsides
High prices – the high-tech and customization of Motiv make it cost high prices limiting affordability and hence demand in the market (Kalinauckas, 2015).
Low profits margins – the market for wearable is at an infant stage. The wearable technology is still in the development stage and most are in the conception and development stages. This lower trust from the customers thus reducing the market and profits (Carner, 2014).
They have low market coverage – the high prices of Motiv because of high technology used, make it have low market coverage and sales. It does not have a rigid demand.
Opportunities
These are the areas that the company can exploit for the growth of the product. The advantages come from external forces which include the political, economic, social, and cultural environment.
The dynamic and rapid change in the internet of things is revolutionizing the interconnectedness of various devices in the internet infrastructure.
The developments in the sports industry are also contributing to the growth in the market for wearable devices (Size, & Wire, 2018)).
There is a domestic social shift which has increased the market for wearable sports equipment. People have personal gyms in their house and they acquire such devices to track their body reaction to exercises (Walker, &Roshan, 2018).
Most people have changed their lifestyle significantly. The realization of health issues is a factor that has contributed to the development of fitness groups (Park, Kim & Kwon, 2016).
Threats
Security issues
Use of energy
Privacy issues
Conclusion
The development opportunities of Motiv ring are better than the threats facing it. The advantages to Motiv ring outweigh the disadvantages. The disadvantages cannot be ignored. Therefore, Motiv Company should seize the opportunities for development that will increase the success of the motiv ring in the market.
References
Austen, K. (2015). The trouble with wearables. Nature, 525(7567), 23-24.
Chester, J. (2017). Health wearable devices pose new consumer and privacy risks. Center for Digital Democracy. Washington, DC: American University.
Motiv. (n.d). Fitness tracker, sleep tracker & heart rate monito. Retrieved from https://mymotiv.com/
Garner, C. (2014). American health care’s temporal order. SSRN Electronic Journal. doi: 10.2139/ssrn.2385780
Ho?ller, J., Boyle, D., Karnouskos, S., Avesand, S., Mulligan, C., & Tsiatsis, V. (2014). From machine-to-machine to the internet of things. Amsterdam: Academic Press.
Endeavour Partners – Medium. (2014). Inside wearables Part 2. Retrieved from https://blog.endeavour.partners/inside-wearables-part-2-july-2014-ef301d425cdd
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
Kalinauckas, A. (2015). Wearable technology. Engineering & Technology, 10(4), 36-43. doi:10.1049/et.2015.0416
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
Kumar, Y., & Bhimasingu, R. (2015). How safe is your quantified self? Symantec. Retrieved from https://www.symantec.com/content/dam/symantec/docs/white-papers/how-safe-is-your-quantified-self-en.pdf
Size, F., Size, F., & Wire, B. (2018). Global stretchable conductive materials market 2018-202: 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
Walker, S., & Roshan, R. (2018). The small revolution is making big waves. Wearable technology. Retrieved from https://technology.ihs.com/api/binary/532944?attachment=true
Free Membership to World’s Largest Sample Bank
To View this & another 50000+ free samples. Please put
your valid email id.
Yes, alert me for offers and important updates
Submit
Download Sample Now
Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.
UploadUnique Document
DocumentUnder Evaluation
Get Moneyinto Your Wallet
Total 5 pages
PAY 3 USD TO DOWNLOAD
*The content must not be available online or in our existing Database to qualify as
unique.
Cite This Work
To export a reference to this article please select a referencing stye below:
APA
MLA
Harvard
OSCOLA
Vancouver
My Assignment Help. (2021). Digital Marketing Communications. Retrieved from https://myassignmenthelp.com/free-samples/mktg7028-digital-marketing-communications/motiv-ring-situation-analysis.html.
“Digital Marketing Communications.” My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/mktg7028-digital-marketing-communications/motiv-ring-situation-analysis.html.
My Assignment Help (2021) Digital Marketing Communications [Online]. Available from: https://myassignmenthelp.com/free-samples/mktg7028-digital-marketing-communications/motiv-ring-situation-analysis.html[Accessed 18 December 2021].
My Assignment Help. ‘Digital Marketing Communications’ (My Assignment Help, 2021)
My Assignment Help. Digital Marketing Communications [Internet]. My Assignment Help. 2021 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/mktg7028-digital-marketing-communications/motiv-ring-situation-analysis.html.
×
.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}
×
Thank you for your interest
The respective sample has been mail to your register email id
×
CONGRATS!
$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1
month.
Account created successfully!
We have sent login details on your registered email.
User:
Password:
At MyAssignmenthelp.com, we have always prioritised the needs and demands of our clients. Therefore, we have brought forth a wide range of amazing free tools to make the process of assignment writing 10X easier for you. You can use our paraphrasing tool to change the texts of your sources, keeping the meaning intact. You can check plagiarism online on our essay plagiarism checker to submit a 100% original paper to your professor. Our referencing guide is also here to take care of your complicated citations like a pro. What are you sitting tight for? Use the right tool and get your work done right now.
Latest Management Samples
div#loaddata .card img {max-width: 100%;
}
MPM755 Building Success In Commerce
Download :
0 | Pages :
9
Course Code: MPM755
University: Deakin University
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Answers:
Introduction
The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…
Read
More
SNM660 Evidence Based Practice
Download :
0 | Pages :
8
Course Code: SNM660
University: The University Of Sheffield
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: United Kingdom
Answers:
Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Read
More
Tags:
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration
BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :
20
Course Code: BSBHRM513
University: Tafe NSW
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Answer:
Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…
Read
More
MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :
5
Course Code: MKT2031
University: University Of Northampton
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: United Kingdom
Answer:
Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Read
More
Tags:
Turkey Istanbul Management University of Employee Masters in Business Administration
MN506 System Management
Download :
0 | Pages :
7
Course Code: MN506
University: Melbourne Institute Of Technology
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Answer:
Introduction
An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Read
More
Tags:
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology
Next