Marketing Assignment: Idea of Mock-up services by Envato
Question
Task: For this marketing assignment task, students need to propose a new marketing idea or revised marketing offering for a chosen company. Students can choose any company, international or local.
Answer
Introduction
It is stated in this marketing assignment that current changes in the business world due to pandemic and other environmental factors have changed the marketing landscape and how businesses are doing their operations in the new markets and domestic markets. It has been identified that decisions regarding market expansion and marketing activities in local market has also changed. This study will underline the Envato’srevised marketing and environmental factors within Australian market.
Project context
An overview of the company
Envato, headquarter in Malborne, Australia is a network of online markets, which supply parts for innovative professions like web designing, graphic designs, and video production. The digital platform provides website templates, videos, 3D models, graphics, and sound or music effects (envato.com, 2021).
Selected product/service
The selected service by Envato for revised marketing is product mock-up services for the customers. Through the help of Envato design software, digital design templates, client could use product mock-ups for getting feedbacks on their products’ concepts prior mass manufacturing or in an outline to stakeholders, investors, and others (boxpackingsolution.com, 2021).
Marketing environmental analysis
The marketing environmental analysis by applying PEST model is listed below;
Political The developing significance of the digital platforms to customers and companies is assumed to offer continued revenue development for Envato product mock-up services even after the pandemic is over.
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Political |
The developing significance of the digital platforms to customers and companies is assumed to offer continued revenue development for Envato product mock-up services even after the pandemic is over. |
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Economic |
Ongoing development in digital connections and business investment in e-commerce by companies are forecast to sustain effectively to sector growth (Herath&Herath, 2020). |
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Social |
The external market competition in local market has faced limited expansion despite surging demands from different clients. |
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Technological |
Envato hires expert designers and web developers for custom projects and XML-based data exchange process in which clients could buy assets as and when they require them (Herath&Herath, 2020). |
Table 1: External market environmental analysis
(Source: Created by the learner)
Marketing environmental factors impacted the company performance
Marketing environmental factors are listed below;
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The economic environment |
Current market condition in pandemic has directly influenced the marketing demands and supply (Grewal et al. 2020). Though digital and other internet service demands were high amidst COVID-19, price of the services have fluctuated most, which impacted on the profitability of the company. |
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The technical environment |
The Item support and services’ built-in features in Evato have helped different customers and the company in hosting, server environment and software functionalities; developing product efficiency levels (Grewal et al. 2020). |
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Customer behaviour |
Social posts, video making, website design services promotion by Evato have helped in sustaining demands of the customers who wanted innovative and creative results in lower prices. |
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The market competition |
An important increase in demands for internet services has developed demands and supply for web designers in the market, as companies accelerate their external environment in online markets (Grewal et al. 2020). |
Table 2: Marketing environmental factors and impact analysis
(Source: Created by the learner)
Revised marketing offering
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Product |
The product mock-up service by Evato will provide clients with custom range of operations in low prices as per the need to be clients. This will include content layout and contrast, designing software, different online design templates from collection of Evato (patterns247.com, 2021). |
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Price |
Evato will offer an hourly rate for the service taking consideration for the total cost, digital tools and engineering. After that, the hour client require will be calculated for completing the whole service. For instance, the hourly rate will be around $25/hour and this can take 12 hours for completing specific task and the client will be charged with $420 for the service. |
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Place |
The online marketing will be done for the Victoria state in Australia. The services will be online based and clients will be contacted through online communication or telephones. |
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Promotion |
The digital marketing process will be adopted and expanded more by Evato. The YouTube and Instagram platforms will be chosen for making video targeting and marketing clients for product mock-up services. |
Table 3: Detailing 4ps of marketing and analysis
(Source: Created by the learner)
Details of the new market offering
The product mock-up service will apply wireframe, or basic product contrast, which interact operationality and client interface and add content and designs to the prototype. Specifically, significant for the online representations of physical products by clients such as print-on-demand products, Evato will offer layout (lettering or image) reparenting the complete product (elements.envato.com, 2021). The typography in context would also assists customers visualizing the complete product for understanding if this achieved their business goals. Expert designers will be hired for custom projects by clients who will have proper access to as well as will be familiar with software mock-ups, Digital mock-ups, Moving and still image mock-ups and Apparel mock-ups.
Proposed changes
As outlined above, the company will invest on YouTube digital video marketing platform for promoting their new services as well as old service to the target consumers (Tafesse, 2020). This will also offer the firm in complying the visual search of their services and products. Increased consumer feedbacks and referral of the service could be done in this type of digital or revised marketing tactic (Duffett et al. 2019). On the other hand, Evato will concentrate on retail customer experience development through redesigning their website for supporting voice and visual search operations for customers and has targeted generating more traffic in their website and online commerce growth revenue by 30%.
Conclusion
From the above discussion on the digital marketing needs and importance in 2021; after the pandemic, it has been understood only providing and modifying product or service offerings as per customer needs will not increase overall performance and profitability of any firm. Companies need to concentrate on developing or revising their marketing target and influential platforms for target customers.
References
About Envato - Company Overview. Envato. (2021). Retrieved 8 March 2021, from https://envato.com/about/.
Duffett, R., Petroanu, D. M., Negricea, I. C., & Edu, T. (2019). Effect of YouTube marketing communication on converting brand liking into preference among millennials regarding brands in general and sustainable offers in particular. Evidence from South Africa and Romania. Sustainability, 11(3), 604. https://doi.org/10.3390/su11030604 Grewal, D., Hulland, J., Kopalle, P. K., &Karahanna, E. (2020). The future of technology and marketing: a multidisciplinary perspective. 48, 1–8 (2020). https://doi.org/10.1007/s11747-019-00711-4
Herath, T., &Herath, H. S. (2020). Coping with the new normal imposed by the COVID-19 pandemic: Lessons for technology management and governance. Information Systems Management, 37(4), 277-283.
Product Mock-Up – Patterns. Patterns247.com. (2021). Retrieved 8 March 2021, from https://www.patterns247.com/service/product-mock-up/.
Professional Product Mockups - Creative & Customizable. Envato Elements. (2021). Retrieved 8 March 2021, from https://elements.envato.com/graphic-templates/product-mockups.
Tafesse, W. (2020). YouTube marketing: how marketers' video optimization practices influence video views. Internet Research. Vol. 30 No. 6, pp. 1689-1707. https://doi.org/10.1108/INTR-10-2019-0406
The Best Mock-up Services For Packaging Box, Product Mock-up Services. Shanghai Custom Packaging Co., Ltd. (2021). Retrieved 8 March 2021, from https://www.boxpackingsolution.com/value-added-service-guidance/product-mock-service/.
