OPPapers.com

Marketing Plan For Hi-Fi System To Australia

Executive Summary
This report is to provide a marketing plan and analysis of entering a new market (Australia) for the marketing and sale of our product. The name of the product is called Mini-X, a Hi-Fi Audio Speaker System targeted primarily at the teenage segment. The uniqueness of the product in terms of sound reproduction and portability will be its unique marketing and selling point.
This report explores and considers the various factors which impacts our product in terms of entering this market. It delves into the economic, cultural, political and legal environments of both Singapore and Australia and how it affects all decisions such as market selection and entry decisions. It directs the market research processes, product internationalization, pricing, distribution and promotional strategies of the product with added emphasis on risk assessments and potential opportunities.
Factors such as trade barriers, economic trends, cultural elements, governmental policies and stability, modes of entry, data collection, branding, distribution channels and available promotional activities are fully explored for the formulation and assessment of market viability for our product.
As with all new products and new markets, all factors have to be considered and given equal weight in exploring these possibilities with due diligence. The product and all its strategies have to be lent the ability to adapt quickly and contingencies planned as far as possible due to the current fluid global environment we operate in.




Introduction

Purpose
The purpose of this report is to develop a marketing plan for an international market, namely, Australia. As the product will be designed and manufactured in Singapore, the marketing of this product will have to be adapted to suit the target market and audience.

The intention is to use a combination of marketing mix in order to develop an understanding of the targeted market and audience, plan an approach and then...