These refer to the factors that can affect the business through government policy. Austrian market is one of the most important markets for the new companies, who are launching new products in the market. The policies of the government of Australia for the business are open, transparent and it always provides support to the new business (Huntley, Brand, Aubert, & Morwood, 2017). The political system of the country is strong enough to respond to the economic challenges and policy direction.
The economy of Australia is mixed company Australia is the second wealthiest nation in term of wealth. The GDP of Australia in 2017 is A$ 4.69 trillion. In terms of Nominal GDP Australia was ranked 14 in 2016 (Huntley, Brand, Aubert, & Morwood, 2017). The economy of Australia is dominated by the service sector.
In Australia, there were three main social classes these are upper class, middle class and working class. There were huge differences between these three social classes. On the bases of the living standards, the business will decide its target customers. In Australia, around 10% of residents belonged to the upper class. The current population of the country is around 25.2 billion (Huntley, Brand, Aubert, & Morwood, 2017).The
Technology creates a new process and new product it can also reduce the cost, lead to innovation and improve quality. The two organisations that are performing the responsibility of government research and development in Australia are Commonwealth Scientific and Industrial Research Organisation and Defence Scientific and Technology assistance (Ho, 2014). The government of Australia provide 55% of its revenue in all research and development.
Customers are the very critical section of the marketing plan. For the company, the target market or target customers are mainly males and some females. The company is going to manufacture various variety and quality of bats. The product of the company will be divided into three categories these are kid’s bats, Adults bats and Professional bats. As per the category of the bats, the company will target its customers (Woratschek, Horbel & Popp, 2014). The company will let the customers know that the bats manufactured by them are of good quality and the price is nominal as compared to its quality with the help of its promotional strategies.
The top three competitors of the Everlast are Willow Wizard Cricket Bats, Bradbury Cricket Direct and Australian Cricket Bat Willow. These three are the top three bats manufacturing and selling companies of Australia. All three is having the good brand name in the Australian as well as international market. The most of the market share of the Bats are covered by these three top brands (Chen, M.J. & Miller, 2015). The main strength of these companies is they are producing quality products and the people prefer these three companies for purchasing the bats. The companies are making bats for professionals and the players use the bats of these three companies in many matches.
The main issues that Everlast can face during the process of product launch are:
1. Challenges in marketing the launch: the company is new in the market and the product or brand they are dealing with are unknown to the public. It is the big challenge in front of the company that how they are going to launch there or how they are going to market their products in the Australian market.
2. The company will face the challenges of Brand messaging and product positioning: for the new company, it becomes difficult to convey their brand message to their buyers. If the company fails to convey a right message, it may create a people for the company. Positioning also arises as the problem because with the help of the positioning strategy the company will make its products available in the market.
3. The company may face challenges in Targeting its Audience: the company produce the product to sell in the market to the customers. The problems of identifying its customers will arise as a big issue in front of the company it is important for the business to select its target audience. If the company chose the wrong audience or miss a few segments in targeting the company will incur a huge loss (Shank & Lyberger, 2014).
While positioning the product in the Australian Market the company will identify the key points or best quality of the product due to which the customers will buy the Bats of Everlast in place of its competitors. In this step, the company will position the product in the market and let its customers know about the product. To position, the product in the market the company can use the marketing mix strategy. To position the product the company will market the product with the help of both online and offline mode of promotion (Zhao, Libaers & Song, 2015). The promotion strategy will help the company in spreading awareness among its target audience.
• Launch new product: The main objective behind the marketing for Everlast is they are introducing a new product in the market. The product and brand name are unknown to the people that are the reason the company wants to market their product to spread awareness.
• Target customers: The motive of the company is to increase the share sales for that they have to select the target customers who will want the product of the company for Everlast the target audience will be kids, adults and professionals who like to play cricket.
• Grow market share: the company want to increase the profits for that they have to capture the market the marketing will help the company in positioning their product in the market and in increasing its market share (Win marketing, 2018).
The product that is the company is launching is a cricket bat the bat is available in three categories these are:
Kid’s bats: in this rage of bates the company has manufactured small-sized and lightweight bats that are easily handled by the kids.
Adult’s bats: These bates are for young people who like to play cricket but they are not professional the research team has designed the bats as per the requirement of the Adults
Professional’s bats: The technical team of the company professionally designs these bats. Professional bats are made for the people who are involved in the professional cricket.
The company want to launch their product in the Australian market because cricket is among the most popular sports in Australia. At the initial stage, the company launch the bat in some selected cities of Australia like Melbourne, Adelaide, Brisbane, Canberra, Hobart, Perth and Sydney. In these cities, cricket is more famous.
The price of the three categories of the product are:
Junior Bats: range available between A$ 15 to 25 (in the prices a nylon full-length bat cover also included).
Adults Bats: range available between A$ 279 to 850 (in the prices a nylon full-length bat cover also included)
Professional Bats: range available between A$ 1500 and above (in the prices a nylon full-length bat cover also included)
Newspaper and Magazine Advertisement: The company will use newspaper and magazines to advertise their product. The company will place their ads in some popular newspaper such as The Australian, The Canberra Times and The Advertiser. For Magazine, the company will choose some sports magazines like Men’s Health Magazine, and Inside Cricket Magazine.
Sponsorship/ Endorsement: the company is manufacturing professional bats to promote the bats among the professionals the company can endorse some famous Australian cricketer. The company can endorsee David Warner while playing the match he will use the bat of the company. That will create a brand image among the public (Paul, 2015).
Online promotion: In present market conditions, the promotion through online mode has become very common. The company can use Facebook, Instagram and some more online promotion tools to spread awareness in the market. For sale, the company can use E-commerce online shopping sites and on that, the company can place ads too.
References
Chen, M.J. & Miller, D., (2015). Reconceptualizing competitive dynamics: A multidimensional framework. Strategic Management Journal, 36(5), pp.758-775.
Ho, J. K. K. (2014). Formulation of a systemic PEST analysis for strategic analysis. European academic research, 2(5), 6478-6492.
Huntley, J., Brand, H., Aubert, M., & Morwood, M. (2017). The first Australian Synchrotron powder diffraction analysis of pigment from a Wandjina motif in the Kimberley, Western Australia. Australian Archaeology, 78(1), 33-38.
Paul, J. (2015). Masstige marketing redefined and mapped: Introducing a pyramid model and MMS measure. Marketing Intelligence & Planning, 33(5), 691-706.
Shank, M. D., & Lyberger, M. R. (2014). Sports marketing: A strategic perspective. Routledge.
Win marketing. (2018). Marketing objectives- where do you want to be?. Retrieved from: https://www.winmarketing.co.uk/marketing-strategy/marketing-objectives/
Woratschek, H., Horbel, C., & Popp, B. (2014). The sport value framework–a new fundamental logic for analyses in sport management. European Sport Management Quarterly, 14(1), 6-24.
Zhao, Y.L., Libaers, D. & Song, M., (2015). First Product Success: A Mediated Moderating Model of Resources, Founding Team Startup Experience, and Product?Positioning Strategy. Journal of Product Innovation Management, 32(3), pp.441-458.
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