Stan Australia - Company's and Industry Background, New Product Launch, Target Marketing, Positioning, 4Ps of Marketing - Example

Executive Summary The paper which looks to examine the marketing strategy which has been adopted by Stan Australia present the different dimensions which Stan Australia is looking to work on for both its old as well as new product. It is clearly seen that the new product looks to have live streaming and aims towards attracting the old as well as new customers. The organization also looks to come up with have different promotional schemes and aims towards creating a niche market for its different offerings. Further, Stan Australia has looked to work on the different areas which will help to strengthen their presence and looks to work on the global arena. This is matched by the fact that Stan Australia also looks towards having a stable customer base and aims to attract the technology savvy person so that they can use the different services which they provide. The overall process will help Stan Australia to ensure that they are able to create a better market for their product and will be thereby able to bring about a change in the manner people look at using the different services which is provided by Stan Australia. Table of Contents Introduction 3 Background Context 3 Industry Background 3 Critical issue in new product launch 4 Target Marketing 4 Positioning 5 4P’s of Marketing 5 Marketing Objectives 6 Strategies & Recommendations 7 Conclusion 8 References 10 Introduction This report looks to present the different strategies which Stan Australia needs to use and develop while looking to market a new product which is live streaming of different events, sports, and other live concerts. This is a new addition to their old business line and will help to extend their product line to carry out different activities. The report will thereby look to focus on the different areas associated with marketing, targeting, positioning and situational analysis. This will be supported by strategies and recommendations of old products so that Stan Australia is able to work on both the new and well as develop their old products. This will serve as a good strategy and will help Stan Australia to take appropriate steps through which the overall long term strategy of the business will be decided. Background Context Stan Australia is a website where people can access to different movies, kids program, shows and other similar programs through a process of streaming the same either on their laptops, palmtops or mobile phones. All that is required is a good internet connection which helps to streamline at a quick pace. The organization also provides a free trial period of 30 days where people can streamline and watch different movies and shows. The company has further designed the system in such a way that new movies and shows which are popular can be streamlined after paying a certain cost. This cost is much lower compared to the cost of procuring the same from other sources. People can also store movies by downloading it and can watch it at their leisure time. The organization has thereby looked to use technology to improve the pleasure experience for customers by proving them certain additional benefits which will help them to spend their leisure time in a more entertaining manner. Industry Background The overall industry for online videos, movies, songs and shows is rapidly increasing. People have started to use different gadgets which provide the opportunity of watching the different shows easily. This has thereby created another niche market where people look to watch movies, play songs and watch serials which they want but are not able to do so because of their busy schedules. The market is growing and it provides a vast opportunity as players who will be able to use it in a positive manner will be able to create a different market for its product. Further, the industry at the moment provides an opportunity to capture a large market and provides opportunity of high returns which has thereby attracted many players towards it. Thus, the industry is rapidly growing and using different strategies different players can look to capture a good chunk of the market. Critical issue in new product launch The new product launch will raise some of the critical issue which the management need to address and has to develop ways through which it can be dealt. Some of the different critical issues which the business has to deal with are as Issues relating with the positioning and targeting of the new product as the business looks towards having a new products which will be aimed towards attracting a different section of the society (Bateman & Snell, 2004). This will look towards looking at different aspect associated with determining the manner in which the product will be brought before the customers The other issue which is present before the organization is to deal with the manner in which the pricing and other marketing mix issues will be dealt with. This will require that the business focuses on presenting itself as an organization where the different marketing mix is properly established and the business is able to determine the manner in which the future growth will be ensured Determining the manner in which the product launch will be carried out as it will require working on important areas so that the business is able to determine the fundamentals which will help the business to succeed Target Marketing The product which Stan Australia is looking will be targeted towards all people who have a liking towards technology and prefer to use it in their daily lives. In addition to it the target will be also look towards attracting people who prefer to use different gadgets to watch different programme and have a preference towards it. The target market will also include people who are busy in their lies and want something which will help them to enjoy their leisure (Czinkota & Ronkainen, 2004). On the whole the product will be aimed towards attracting people who are technology savvy and are prone to use more and more internet. Since, Stan Australia has come up with a product which will be aimed towards attracting different section of the society so the product will be mainly aimed towards the elite and learned people so that a framework through which more and more people can be attracted towards the product can be determined. Positioning Stan Australia has further looked towards positioning their product differently as they look to move away from the normal field of streaming towards live streaming. This will help the different users to ensure that different live streaming can be carried out in the most effective manner. The positioning also look at ensuring that they are able to create a niche market where they will look towards focusing on areas through which better market penetration will become possible (Chrisan, 2001). Further, the positioning strategy looks at ensuring that the product will be differentiated based on different areas so that the overall mechanism will be aimed at creating a niche market through which the business will be able to function effectively. 4P’s of Marketing The description of the different P’s of marketing and its relevance to the product is as Product: The new product which Stan Australia will look to promote is live streaming. This is a new addition to their old business line and will help to extend their product line to carry out different activities. The product will look towards proving live streaming of the different events which is taking place all around the globe. The process of streaming will move slightly ahead and will look towards providing streaming of different events which happens in different regions of the world. Thus, the product will look towards attracting the same customer based but also look to attract new customers based on the different services which they look to provide. Price: The organization looks to have a charge for using live streaming. The price which has been determined is slightly high compared to other streaming. This is because of the high cost which the organization has to incur for ensuring that the live coverage is covered at the same moment. Further, since it is an which people will be able to witness as and when they happen so it will look towards ensuring that having a slightly price helps to attract different section of the society. The organization also looks to provide an opportunity where special discounts and offers will be provided to people who subscribe to live streaming and will be thereby able to bring about the required change in the behaviour of people towards the new product Place: The product will not be only restricted to Australia but will look to provide an opportunity through which different events which occur in different parts of the world can be viewed online. Having different places included will ensure that they have a global presence and people from other countries will also look to use the different services (Cook & Dave, 2004). This will also help Stan Australia to determine the different dimensions based on which the product will look towards being attractive and will thereby also help to bring about a change in the manner different people look at using the services. Promotion: Stan Australia looks towards having different promotional schemes for people who use the services. Stan Australia looks towards offering discounts and proving special incentives to people who look towards using the services. The organization also aims towards ensuring that the new product will be advertised through their website. In addition to it the business will look to use different media like internet, mails, and even audio and visual media to attract people (Brassington and Pettitt, 2001). The different promotional schemes will be aimed towards building a customer base through the business will be able to determine the manner in which different schemes will be provided to the customers. Marketing Objectives The marketing objectives which has been designed for the new product as well as look for the already established product is as Creating a niche market for the new product which will be aimed towards attracting a different section of the society so that the product is aimed towards developing a new market for itself Attracting the old customers towards the new product by bringing forward the manner in which their experience will change and will look towards bringing about a change in the manner business will look towards attracting the old customers Developing strategies which will be aimed towards attracting a new section of the society by looking towards identifying the ways which will help them to create a niche market in the market Determining the marketing strategy which Stan Australia needs to use both for their old products and new products so that the business looks towards developing the required fundamentals which will help them to create the required dimensions through which better market penetration becomes possible. Strategies & Recommendations Stan Australia also looks to revive the old product and has looked towards developing the different strategies which they will use for their old product. Since the business has been developed and has the brand name based on the old products which they are working on so it will require that the business looks towards using the following based strategies for its business Stan Australia has to look towards repositioning itself where they will look towards creating a base where they look at attract both the old customers as well as new customer. The positioning strategy will be aimed towards looking at developing a differentiated statement where they look to bring forward the different features and benefits which the customer will be able to garner and look towards attracting people based on the different dimensions (Cateora, Mary & Graham, 2009) Promoting the new as well as the old product by bringing forward the different offers, schemes, and other aspect which the organization has relied on. This will also look towards having loyalty points for permanent customers and special incentives for people who use the website (Cable & Judge, 2006). In addition to it the business will also look towards having a strategy where they aim towards making customer understand the manner in which they will be able to experience new things and ensuing that a loyal base of customer is developed Having a website which is not heavy and ensures ease of using the different information for different purpose. The organization has to look at simplifying the manner in which people use the website so that the people are able to navigate the different information and use the different streaming at ease. This will help to ensure that people are able to reach the required areas without any difficulty and will be thereby able to bring about the require changes in the manner people look to perceive at the services. The different directives thereby require that Stan Australia looks towards working on the following recommendations Developing promotional schemes which will be aimed towards attracting new people as well as retaining old customers so that the overall process will be aimed towards determining the manner in which customer base improves. Stan Australia has to look towards determining the manner in which different promotional schemes will be aimed towards strengthening the customer base so that the overall momentum helps to build a larger market share Stan Australia has to look towards repositioning itself where they will look towards creating a base where they look at attract both the old customers as well as new customer. The positioning strategy will be aimed towards looking at developing a differentiated statement where they look to bring forward the different features and benefits which the customer will be able to garner and look towards attracting people based on the different dimensions. Looking towards developing their presence in other areas as well so that the business is able to penetrate in other regions of the world. This will help Stan Australia to gain a global presence and will provide an opportunity through which the business will be able to work globally (Chen, 2003). The process will also lead towards strengthening the manner in which Stan Australia works and will thereby help to create a market through which the overall business phenomenon will be better established Conclusion The paper thereby helps to present the different dimensions which Stan Australia is looking to work on for both its old as well as new product. It is clearly seen that the new product looks to have live streaming and aims towards attracting the old as well as new customers. The organization also looks to come up with have different promotional schemes and aims towards creating a niche market for its different offerings. Further, Stan Australia has looked to work on the different areas which will help to strengthen their presence and looks to work on the global arena. This is matched by the fact that Stan Australia also looks towards having a stable customer base and aims to attract the technology savvy person so that they can use the different services which they provide. The overall process will help Stan Australia to ensure that they are able to create a better market for their product and will be thereby able to bring about a change in the manner people look at using the different services which is provided by Stan Australia. References Brassington, J. and Pettitt, M. 2001. Principles of Marketing, 2nd Edition, Prentice Hall Bateman, T. & Snell, S. 2004. Management: The New Competitive Landscape. 6th Edition, McGraw Hill, New York Cable, D. & Judge, T. 2006. Person-organization fit, job choice decisions, and organizational entry. Organizational Behavior and Human Decision Processes, 67(3), 294–311 Chen, I. 2003. Understanding Customer relationship management: people, process and technology. Business Process Management Journal, 9 (5), 672-688 Cook, D. & Dave, D. 2004. Structural element of service quality product. International Journal of Business Performance Management, 6 (2), 189-207 Chrisan, P. 2001. Marketing: A Behavioral Analysis, McGraw – Hill. New York Czinkota, M.R. & Ronkainen, I. A. 2004. International Marketing, 7th edn. South-WesternPublishing:Australia. Cateora, P.R. & Mary, C. G. & Graham, J.L. 2009. International Marketing, 14th edn. Irwin: McGraw-Hill. Read More