Executive Summary

The purpose of the report is to provide analysis of the current industry and market situation, and the viability of launching the Home Smart-Lock in Australia. This report was commissioned to examine what steps and research need to be taken into account by the executives of Amazing Ideas.

The research draws attention to the fact that there are varieties of competitors in the current market, such as Samsung, one of the main competitors against Amazing Ideas. Macro-environment analysis will also be presented in order to let the executives of Amazing Ideas knows the threat or opportunity they may face. For example, the increasing of households in Australia will be an opportunity due to it will increase people demand for locks. Further investigations, for example by choosing a single segment to target, reveal that Full Nest II, which is a family with three or more children, will be the main target to focus on; moreover, the 4Ps marketing strategies will apply as well, giving more details about how to launch the new product and what practices should be taken.

The Home Smart-Lock is the latest lock range put forward by the Amazing Ideas. The report evaluates this range and concludes that it would be an ideal candidate to meet the challenge presented by the market and could satisfy the new consumer demand since it can lock and unlock the door by just simply press the button .

It is recommended that before launching the Home Smart-Lock, a variety of research needs to be conducted in order to achieve the company objective. Moreover, the Home Smart-Lock is available in the local market as well as in housewares store, such as Burning’s.

Table of Contents
Executive Summary-----------------------------------------------------------------------------1
1. Introduction------------------------------------------------------------------------------------3
2. Analysing Marketing Opportunities--------------------------------------------------------3 2.1 Industry Definition-----------------------------------------------------------------------3 2.2 Competitor Overview--------------------------------------------------------------------4 2.3 Macro-Environment Analysis-----------------------------------------------------------5 2.4 Consumer Behaviour Analysis – DMP------------------------------------------------6 2.5 Recommended Marketing Research---------------------------------------------------8
3. Selecting the Target Market-----------------------------------------------------------------9 3.1 Justification for Choice of Segmentation Base---------------------------------------9 3.2 Profile of Segments-----------------------------------------------------------------------9 3.3 Target market choice and Justification------------------------------------------------10 3.4 Proposed Positioning Strategy---------------------------------------------------------11 3.5 Marketing Objective--------------------------------------------------------------------12
4. Marketing Strategies------------------------------------------------------------------------12
5. Conclusion------------------------------------------------------------------------------------13
References---------------------------------------------------------------------------------------15

1. Introduction
This report is for the board of director of the Amazing Ideas to see what steps need to be taken into account before the new product, the Home Smart-Lock, introduced into the current market. People always look for easy and comfortable lifestyle. With a simple press of the button, people can lock and unlock their front doors without searching keys in their bags or may lose their keys sometimes. The purpose of this report is to having a well knowledge about how to successfully launch the new product by conducting marketing analysis process. Throughout this report, analyzing market opportunities,