Trunki: Company Overview
Discuss About The Marketing Management Digital Communication?
Marketing activity is used for promoting the product and spreading awareness amongst the target market with the motive of uplifting the company’s presence as well as to enhance the revenues and the profitability of the company. This report will focus over the ride on suitcases introduced by the Trunki in Sydney with the motive to provide unleashed experience especially to kids. Trunki is a company that is engaged in production and distribution of bag packs, varieties of suitcases, and accessories for children etc. The company was established by Rob Law on 5th May 2006. The company has developed effective position in the in UK since 2006 through featuring on the Television series Dragon Den’s. This suitcase offers them ride on the suitcases along with lifting luggage without much efforts. The name of the product is aligned with the name of the company. The primary aim of the company is to attract the children as the product is designed for them only and the design of the suitcases is highly attractive in order to increase the demand of the product. Trunki offers its customer’s option to customise these suitcases on the basis of their choices and along with the ride on suitcases, company also offers various products across the globe in order to attract the customers. The range of company’s products includes boostapak, bag packs for children, swimming bags and eat range. Apart from this, Trunki also offers travel neck pillows for children in terms to provide comfort travelling experience to them (Baker, 2014).
Trunki is basically engaged in production and distribution of the product and services especially to children in order to provide comfort experience. Apart from this, company has introduced the innovative ride on suitcases especially for kids in order to provide them unleashed and comfort experience in traveling. These suitcases can also be used by kids in other platforms such as they can carry their books and other material at school along with this backpack could be used at the picnic spots by the kids, and the like. The target market for the company is the families especially with small kids and the area where population of children will be more. Parents who are focused over their children’s comfort, this product will be very beneficial for them. Price of the product is also kept affordable and on the basis of the quality served with the product. The major advantage of the Trunki is that it provides best quality products in comparison with its primary competitors such as Kiddee (Hoskisson, 2009).
Target Market and Competitors
Under this report, perfect mixture of primary as well secondary sources of data will be utilised in order to analyse the information in relevance with the target market’s choices, preferences and the demands with regards to the organizational products and services. Further, customer’s value and competitors’ value propositions will be analysed in relevance with the organizational functionalities. This will help the organization to develop and adopt advanced level of strategies in order to meet up with the challenging situations as well as to gain adequate competitive advantage (Lam & Harker, 2015).
In the primary research options, organization will use both qualitative as well as quantitative type of research methods in which numerical data and the customers’ reviews and feedbacks will be gathered respectively with regards to the product introduced by the company in the target market. With the help of qualitative research methods, organization will be able to gather the information in the form of numerical or in the measured form in relevance with the demand of the product through surveys and questionnaires, etc. It also provides the relevant information about its competitors’ products’ demand in the same target market and with the help of outcomes generated from research methods; organization could easily update the features of its product with the motive to attain the competitive advantage. Furthermore, organization could also use the quantitative research methods in order to gather the feedbacks and reviews regarding the products and services utilised by them. With the help of outcomes, organization could identify the gaps between the value served by the product and the expectations of the consumers with the product (Lee & Carter, 2012).
Apart from this, organization had also utilised the easy method of gathering information regarding its target market through secondary sources of research. This resource includes the sources of journals, articles, newspapers, online websites, marketing consultancy companies, etc. These are certain useful sources through which the required information could be gathered in relevance with the target market in order to develop the strategies to attain the success and growth related objectives (Pavlou & Stewart, 2015).
Products manufactured by Trunki have a great customer satisfaction factor. All the products of the company are reliable as well as filled with appropriate quality attributes which enhances the value of the product. These attributes helps the company to increase the demand of their products and services in the target market along with matching up their expectation level of the consumers. With the help of outcomes oriented from the research conducted in above part of the report, organization has gained appropriate knowledge in relevance with the strategies adopted and implemented by its competitors in the target market. This will help the organization to gain the information with regards to the organization’s value in the target market and an idea will be obtained in relevance with adaptation of the strategies with regards to the upliftment of the organization’s image (Peñaloza, Toulouse & Visconti, 2013).
The products introduced by the Trunki in Sydney are ride on suitcases along with better quality and great comfort. Apart from this, ride on suitcase is also known for its attractive designs and the option provided to the customers in relevance to modifying the designing of the suitcase. This could help the organization to develop the products on the basis of the target audiences’ demand and it will also help the organization to make a distinctive position in the target market.
Trunki has quite effective goodwill in the international market and with the help to this; organization could easily develop an effective position in the Sydney’s market. Along with the development of effective position in Sydney, organization could also utilise its brand name for increasing the demand of its products in the market. Brand value and the brand positioning are two big terms through which organization could easily uplift the market along with the attainment of the desired goals and the objectives. But as organization is new to the Sydney’s market, organization could utilise its brand name and set up an effective brand position in the market. This will help the organization to build an effective brand position in the target market along with the attainment of desired objectives. Apart from the above attributes, Trunki plays an effective role in the family through providing the qualitative products for their kids. The primary and major concern for the family members is comfort of their children and the quality of the products used by them. In order to attract the audience of the target market, organization has various choices such as social media promotions, advertisement on television, radio, utilisation of print medium resources of spreading awareness amongst the target audience, etc. This will help the Trunki to develop an effective position in Sydney along with the appropriate brand positioning (Bahadir, Bharadwaj & Srivastava, 2015).
Marketing promotional plan will help the organization to increase the demand of their product in the target market along with the upliftment of the brand image. With the help of this plan, organization could spread awareness amongst its target audience in comparison with its competitors (Creswell & Clark, 2007). Along with this, marketing and promotional plan could also be utilised in order to gain the goals and the objectives set up by the management. Following are certain attributes of a marketing and promotional plan:
- Major target market segment for Trunki will be kids market in order to attract the children.
- Organization has also adopted the strategy of operating at e-commerce platforms. With the help of online shopping websites, organization would be able to enhance the demand of their products and the services (Brannen, 2017).
- It used to target Jurni with the intention to grab young and teenage market.
- Trunki has also provided the option to customise the suitcases on the basis of their choices and this will help them to attract the large part of audience as well as it will help the organization to uplift the organizational image in the target market (Bernard, 2017).
Promotional mix element is the result oriented technique through which organization could attain its desired goals and the objectives. Following are certain effective tools included in the promotional mix technique:
Customer Satisfaction and Competitor Analysis
With the help of advertisement technique, organization could easily communicate with its target audience along with spreading awareness amongst them regarding the product’s features, usefulness, etc. Advertisement could be done with the help of various options such as through television, radio, local newspaper, etc. Apart from this, organization could also utilise the internet sources along with the social media platforms. These are trending and result oriented tools through which the demand of the organizational products could easily be enhanced (Smith, 2015).
This is another crucial aspect of increasing the demand of the products in the target market. Customer relationships could be developed with the help of after sale service as well as with providing the high quality products which could match up with the expectation level of the consumers. Providing offers such as discount, and other promotional offers could also help the organization to develop effective customer relationship (McCusker & Gunaydin, 2015).
Sales promotion is the tool through which revenues could enhanced with the help of providing unique types of offers on the products sold by the organization. But this tool will not generate effective results for Trunki as they have a good reputation in the market and providing offers for increasing the revenues may affect brand image (Bryman & Bell, 2015).
This tool includes the promotion of the products directly to the potential customers of the organization. With the help of this tool, organization will be able to spread the awareness amongst the target market through various sources such as sending direct emails, messages and the letters to the existing customers. It will build a positive image in the existing customer’s mind-sets’ towards the organization and it will result in effective customer retention policy (Kitchen & Burgmann, 2015).
This is another crucial element which could be used for setting up an effective image in Sydney. This includes the promotion of the product and its crucial features through door-to-door marketing concept. Organizational marketing team will showcase the essential points of the product to the target audience and explain the effectiveness and the importance (Helm & Gritsch, 2014).
Email marketing $1,200
Other online mediums $5,100
Advertisement through other sources:
TV channels $25,000
Board Hoardings $35,000
Product positioning is the tool through which organization could set up a distinctive image in the target with the help of effectiveness of the product (Phan & Vu, 2015).
Brand Image and Promotional Plan
This tool will also take the help of unique features of the product which will be son introduced in the target market for spreading the information in relevance with the significance of the product.
Organization could use the integrated communication strategies in order to uplift the communication amongst the target audience and the organization. With the help of this strategy, organization could be able to communicate with its potential consumers in relevance with the new product launching, discount offers and regarding other information. This also helps the organization to build an effective relationship with the consumers through which the attainment of the desired goals and the objectives could easily be attained.
Organization could also utilise the distribution strategy for setting up the effective position. In the distribution strategy, organization could make the availability of the newly launched ride on suitcase to almost all nearby stores to the target audience (Huang & Sarigöllü, 2014).
Brand positioning strategy will help the organization to develop a positive image of the organization in the target audience’s mind-sets.
For performing this strategy, organization needs to focus over the parents of children in order to explain them the significance of the product along with its usefulness for increasing the demand of Trunkis (Khan, 2014).
Advertisement used for spreading the awareness should be based on the children-centric themes. This will help the organization to attract both parents as well as children (Ahmed & Rahman, 2015).
Product life cycle has four stages i.e. introduction, growth, maturity and decline. Every new product and service needs to go through with these stages in order to accomplish the desired goals and the objectives. Ride on suitcase introduced by the Trunki in Sydney’s market also needs to face these stages.
Introduction: When the product will be launched in the target market that will be known as the introduction stage of the product. This stage helps the organization to analyse the information about the market conditions and other relevant information in order to launch the product in an effective manner.
Growth: This stage describes the huge demand of the product along with the increase in the prices of the product. In this stage, particular product stands on the peak position in the market and this stage helps the organization to gain the competitive advantage.
Maturity: When sales reaches to the maximum but the growth of the product breaks down due to entry of the new competitors in the market.
Decline: In this stage, sales for the particular product start declining and it is also known as the final stage of the product life cycle.
Company’s primary competitor is Kiddee and they are operating at the international level with the same sort of products as provided by the Trunki. The major difference between the products manufactured by Trunki and the products manufactured by Kiddee is the quality. Apart from the quality feature, rise on suitcase manufactured by Trunki is especially designed for kids; hence, the comfort level is great in comparison with the other companies’ products. This could be the major factor through which organization could uplift the demand of its products in the target market. Ride on suitcase is sold by the Kiddee in the target market at cheaper rates in order to attract the audience in comparison with the competitors’ products. But still Kiddee cannot match the bar set by Trunki in the international market (Sheikh & Liang, 2015).
Trunki has set up an effective brand name in the international market and brand name plays crucial role in expanding the business or to gain the competitive advantage. Effective brand name has the capability to uplift the organizational performance in the market while it is also effective in order to gain the competitive advantage. Thus, organization would easily be able to set up its effective position in Sydney’s market, attainment of the desired goals and the objectives as well as an effective brand image will also be developed (Ward, 2016).
From the aforesaid information, it can be concluded that marketing management and digital communication plan has the capability to uplift the organizational performance. Along with this, this plan is effective for gaining the competitive advantage in the target market with the help of spreading awareness amongst the target audience with regards to the product. Ride on suitcase is an innovative product manufactured by Trunki. It is manufactured in various designs and colours in order to attract the target audience i.e. children. Along with this, company has also offered the option to customise the suitcases as per their requirements in order to make the suitcases more attractive and unique. With the help of these innovative suitcases, organization has provided the children an option to lift their luggage easily as well as with an ease and comfort. This report includes the plan for Trunki which is engaged in production and distribution of the ride on suitcase for children. Thus, various marketing and promotional concepts have been covered under this report with relevance to the Trunki and its newly launched product i.e. rides on suitcase.
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