Marketing Analysis Assignment: Situation Analysis of Motive Ring

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Situation Analysis of Motive Ring
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Introduction

• The presentation basically presents the situation
  analysis of Motive Ring, which helps the
  customers to stay fit, keep track of the heart
  rate and track sleep.
• Both the internal setting and the external
  setting has been thoroughly evaluated here.
• The customers, competitors, stakeholders have
  been assessed along with the SWOT analysis.

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Background of company

• The Motiv firm has combined design and technology
  to design the Motiv Rings.
• The rings help to track the heart rate, the sleep
  and the overall fitness of the users.
• In the technological era, the ring creates unique
  value for the customers (Motiv, 2018).
• The firm has incorporated technology with design
  to make the customers fit and healthy.

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Situation Analysis

• The situation analysis that has been carried out
  encompasses the following
• Customer Analysis
• Competitor Analysis
• Stakeholder Analysis
• SWOT Analysis and
• The problem and opportunity statement.
• Both the internal and external setting of the
  business has been evaluated here in order to get
  a holistic picture of the innovative product.

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Customer Analysis

• The customer base of smart jewelry includes the
  health conscious customers including young
  people, middle-aged people and the elderly
  population.
• The customers of the digital rings are able to
  keep a track of their fitness thanks to the Motiv
  Rings. The customers are able to enhance their
  health conditions by wearing the rings (Digital
  Jewellery, 2018, p 190).

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Competitor Analysis

• In the technology-prone era, digital jewelry is
  the latest trend which increases the competitive
  intensity of Motiv business.
• Some of the major competitors of Motiv Ring are
  Blinq Smart Ring, ORII Ring, and NFC Ring.
• The high level of competition increases the
  pressure on the business to focus on design,
  innovation, technology and fitness (Wareable.com,
  2018).

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Stakeholder Analysis

• Stakeholders are the ones who have some interest
  in the business. The major stakeholders of Motiv
  rings include the fitness enthusiast customers,
  the community, the urbanized people and the
  suppliers (Worldbank.org, 2018).
• The stakeholders of the firm play a vital role to
  influence its survival and sustainability in the
  dynamic market setting.

Keep Satisfied Manage Closely
Health conscious customers Employees
  Customer Executives
Monitor  Keep Informed
Competitors Investors
Government Suppliers
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SWOT Analysis

• Strengths The major strengths of Motiv rings
  include the combination of fashion, fitness and
  innovation.
• Weakness The major weakness is the need to
  strengthen the supply chain of the firm to offer
  value to the customers.
• Opportunity Motiv has the opportunity to
  incorporate technology with fashion and fitness
  that can attract the health-conscious audience
  (Staff, 2018).
• Threat The rapid evolution of technology poses
  major threats before Motiv business. The increase
  in the competition putts additional pressure on
  the firm.

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Problem and Opportunity Statement
In the dynamic market context, the major problem
that Motiv Ring would face relates to the dynamic
nature of technology. But at the same time, it
has the opportunity to create unique value for
the target audience by focusing on fashion,
fitness and innovation. PEST Analysis
Political Economic Social Technological
The government regulations and the legislation would influence the technological model of the business. The economic stability and interest rates in the nation would influence the profitability and sustainability of Motiv business. The income level of the people directly influences the demand of the rings  The dynamic technological setting would force the business to incorporate new and innovative features in the digital rings.
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Conclusion

• Motiv Ring is a unique product that has the scope
  to create value for the business and its
  stakeholders.
• The internal and external analysis indicates that
  the rings combine fashion, innovation and fitness
  and help the users to lead a healthy life.
• Marketing Analysis Assignments are being prepared
  by our marketing experts from top universities
  which let us to provide you a reliable assignment
  help Australia service.

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References

• Digital Jewellery. (2018). Retrieved from
  http//data.conferenceworld.in/Newton/18.pdf
• Motiv. (2018). Fitness Tracker, Sleep Tracker
  Heart Rate Monitor 124 Motiv Ring. online
  Available at https//mymotiv.com/ Accessed 18
  Aug. 2018.
• Staff, I. (2018). SWOT Analysis. Retrieved from
  https//www.investopedia.com/terms/s/swot.asp
• Wareable.com (2018). Put a ring on it The best
  smart rings. (2018). Retrieved from
  https//www.wareable.com/fashion/best-smart-rings-
  1340
• Worldbank.org (2018). What is Stakeholder
  Analysis?. (2018). Retrieved from
  http//www1.worldbank.org/publicsector/anticorrupt
  /PoliticalEconomy/PDFversion.pdf