Marketing fundamentals assignment on Omvos Scooter meeting Australian marketing consumer expectations

Question

Task: how can Omvos Scooter identify its customer expectations using marketing fundamentals assignment research techniques, based on which accurate marketing plans can be designed?

Answer

Introduction
This marketing fundamentals assignment will focus on strategies OmvosScooter can help improve the brand meeting Australian consumer expectations. Marketing encompasses the approaches and strategies organizations utilize to promote their new products to their potential customers. Marketing is considered as one good might seem like a great challenge. Making a successful marketing strategy is focused on getting their target customers. The marketing fundamentals assignmentreport aims to focus on the new product launch in the Australian market. It provides a proper description of OmvosScooter as a new product and discusses the product's potential to meet the Australian customer’s needs and demands. It is essential to address the current market environment of the product. Analysis of its target markets and competitors is the most important part of the study. Moreover, SWOT analysis has been considered to understand the product’s strengths, weaknesses, threats, and opportunities.

Description of New product chosen
The first step of using marketing fundamentals assignment research methods is to identify and describe the product. The new brand that has come into the picture of Australia is known as the Omvos scooter. This company is mainly known for its electronic scooter that will launch its operation in Australia. Electric scooters are much more efficient than normal scooter that consumes fuel to run. Math is the founder of this company which founded this idea and also started its strategies to grow this company in the year 2021. The CEO is Vic C (Omvos E-Scooter, 2022).

The marketing fundamentals assignment research shows, Australians are moreportre health conscioures and want an environment pollution free, for which there are a lot of companies thathelp in this pollution-free environment. This is why Math founded this company with the motto of selling e-scooters with a lot of exciting and new features built into them. According to Kholbekov (2022), creating Omvos is meant for the company's people to develop a healthy and fit environment by including all the modern technology at an affordable price and is much smarter. People can use this scooter on any road, be it a busy city with buses and cars, on the beach sides, places like this, and it is easy to handle.

As per the marketing fundamentals assignment investigations, the features that Omvos contain include a 400w motor which means that one can ride a large number of kilometers once fully charged. It has a 4H fast charge, which means it does not take much time to assess and can easily be set (kickstarter.com., 2022). The maximum range of this scooter is 31mile/50km which is a very attractive feature. As per Zlatic (2022), the top speed of this scooter is 19mph/30kph. It has dual suspension with a dual brake system. It has a seat, so it makes one more comfortable to ride it. Orvis has a foldable design which is one of its unique features. It has a remote start, so there is no difficulty starting this scooter.

Figure 1: Description of the Product
(Source: kickstarter.com., 2022)

It has 10’’ tires with front and rear LED lights, and it has the most updated feature, which is an anti-theft alarm and remote feature. These unique features make Omvos different from other brands, and the best part is that different people with different financial states can buy this e-scooter (Zlatic, 2022). marketing fundamentals assignment research shows e-scooters are usually bulky and heavy, which makes it difficult for the riders to ride, but this Omvos is with all the modern technologies, and it is lightly weighted, which is one of the best features

marketing fundamentals assignment for Australia Market
Australia's business environment is ranked 15th out of 190 economies for ease of doing business. This country is noted for its stable institutional frameworks and strong banking and finance regulations (Lucas et al., 2022). This means that Australia has good economic growth and a lot of successful business. Companies that have taken their place are also running good and healthy interactions, so to give them good competition, this company needs to think of unique and attractive ideas which they have already implanted in their new products. Moreover, they need to make sure that this product should be perfect and people get attracted to it as there is a hell of a lot of companies that are arising every day in Australia that can give good competition.

The six selected environments of Australia that can affect the business positively as per the marketing fundamentals assignment research in good ways include demographic, economic, natural, technological, political, and cultural.

Demographic: The demographic picture of Australia includes mostly low plateaus with deserts, fertile plains, and mountain ranges in the east and southeast (Lucas et al., 2022). It means buying Omvos for the people of Australia would be more advantageous andbeneficial.
Economic factor: it is one of the most stable countries, so there would be no issues regarding running the business. The automobile sector in Australia is responsible for the rapid growth of the country’s development of economy (Mau & Mau, 2022).
Nature: The nature of this country is full of diversity and beauty and people would love to have a ride on their Omvos and see the scenic beauties of this country.
Technological factor: it is also a very advanced country with smart and modern technical things in their country andOmvos also has the smartest technologies that would be more useful to the people living there.
Political and cultural factors: Australia has no typical twisted politics, and their culture is adorable; hence, this business will have no problem.

These are some of the points discussed regarding the Product Omvos e- scooter. Studying the background of this country and the product will be a huge success after it launches in the market, and it would attract a lot of customers from all different age groups or maybe financial groups. The marketing fundamentals assignment research shows it will also give good competition to the other scooter companies running in the markets as it has unique features to date.

Competitors' marketing strategies and innovative marketing approaches
As day by day, all things are taken over by the fastest and most modern technologies people are also adapting to it. Along with this, it also uses these technologies in its new ideas for any products. From the marketing fundamentals assignment research, it is clear that the new product is not just an electric scooter but also has the fastest and most modern technologies that can be handy for teenagers and adults (Blazanin et al., 2022). Now as it is a new brand that is about to get launched. It also needs unique ideas for its promotion so that numerous people can know about this and are attracted to it. To connect to people, modern technologies have made social sites where one can promote their ideas, products, knowledge and more.

This Omvos needs to be promoted on these social media sites so that more and more people get to know about it and not only that, more people will get attracted by seeing its smart features. ((Omvos E-Scooter, 2022). One of the most important points that this company has kept is that the e-scooters are affordable, which means anybody can buy them without any hesitation, which is also one of its most attractive features of it. One's life would change drastically if one accepts this e-scooter because, first and foremost, it would make the environment pollution free, keep the person healthy and fit, and the most important part is it will make the person travel most easily and smoothly by riding this scooter. With the increase of population increment of vehicles is also happening for which there is pollution in the environment which is one of the causes of global warming. And by the invention of this with a unique and modern feature it would bring a lot of changes that is both beneficial to people and the environment. Other e-scooter brands are present in Australia's market, but Omvos has different features from all the other e-scooters in this country.

On the other hand, some strong competitors can give good competition to this Omvos: Segway Ninebot Max G30P Global Edition, Apollo Ghost, Emaove cruisers, Apollo Phantom, Inokim OXO 2021, Apollo Explore, and more. These are also famous and successful brands that have taken their place in Australia. So Omvos needs to give good competition to them so that it can also become a stable and successful brand and renowned (Vedor, 2022). These brands also have unique features in their e- scooters, but the Omvos is the extremely modern one with h modern concept; hence it is expected that it will create a huge hit in the market and attract a lot of customers. Still, the people of Vida-a-go-go have to be ready for challenges because their journey would be full of competition as there are a lot of renowned e-scooter companies in this country so it will be a competitive journey, and this company should be ready for it.

Hence, it can be seen that there is a lot of expectation from Vida-a-gogo as it is something that has been created with unique features and a lot of expectations and it would be a huge hit but to keep its sustainability it needs to look into all the possible factors that may arise while running this company.

marketing fundamentals assignmentSWOT Analysis
Omvos is an LA-based company; they call themselves an innovative group of people with different creative projects for the market (Omvos E-Scooter, 2022). This time the company has come up with another idea for the E-Scooter. They have named it Vida-a-go-go.

SWOT Analysis of the product below:
Strengths: Vida-a-go-go has adopted so many fantastic features to attract customers. It is a folding, comfortable E-Scooter with inbuilt safety features. A human body of 5’1” to 6’8” can easily ride it. It can be easily carried away, and as it has LED lights and indicators one can ride the scooter at night time too for hustle-free transportation (Guno, Collera, &Agaton, 2021). With remote access, it is also Safety Park the scooter after arrival, as the vehicle gets locked by the remote and also gives a security alarm if needed.

Weaknesses: No matter how powerful a product is with all its strengths, it also comes up with Weaknesses. The E-Scooter is a single-passenger vehicle, so there is no way to travel with someone using it. Also, as it comes with only remote access, there are chances of losing the remote and one will lose complete track of the scooter as there are no other ways of tracing the vehicle.

Opportunities: The product is well built apart from a few drawbacks. The company has set a price for the vehicle of USD 1049 which is affordable in comparison with the other related Product in the market. As per Narayanan, Chaniotakin, &Antonion(2020), Vida-a-gogo can easily grab the market for E-Scooter. Also, it has the Capacity of running 31 miles for 4 hours of charging, which is also a plus point for the product.As the company, Omvos is getting pledges from Kick starters for USD 700 which will help the Brand to get the attention of the targeted customers.

Threats: the main threat identified on this marketing fundamentals assignment, is that the business market is very risky, especially when it comes up to the vehicle sector. As People change their minds and taste according to their needs and budget (Narayanan, Chaniotakis, & Antoniou, 2020). The E-Scooter is not expensive enough in comparison with the similarly available products but it is still not accessible for all. In the long run, the product can face competition with new products sold at Lower costs. It also questions the safety of the passenger as the scooter provided up to 19 miles Speed with small and thick wheels which may lead to accidents and harm the passenger as it does not come up with any safety features for the rider.

Conclusion
Based on the above marketing fundamentals assignmentanalysis, it can be concluded that the E-scooter products are effective in the Australian market. It has been discovered that the electric scooters are becoming more efficient in the current era as compared to the normal scooters. This may prove to be an advantageous situation for Omvos scooter to become feasible in the market of Australia.The current market condition in Australia is evaluated for understanding weather the product is able to fit in the environment and meet the demand of the consumers.Additionally, it can be said that the product used to prepare this marketing fundamentals assignment is something out of the box, so there are a lot of chances for this company to compete the other existing e-scooter companies in Australia.

Reference
Blazanin, G., Mondal, A., Asmussen, K. E., & Bhat, C. R. (2022). E-scooter sharing and bikesharing systems: An individual-level analysis of factors affecting first-use and use frequency. Transportation research part C: emerging technologies,marketing fundamentals assignment135, 103515.https://repositories.lib.utexas.edu/bitstream/handle/2152/89823/Microsoft%20Word%20-%20Micromobility.docx.pdfsequence=2

Guno, C. S., Collera, A. A., &Agaton, C. B. (2021). Barriers and drivers of transition to sustainable public transport in the Philippines. World Electric Vehicle Journal, 12(1), 46.https://www.mdpi.com/2032-6653/12/1/46/pdf

Hosein, A. S. (2022). Exploring energy policy scenarios for the Northern Territory (of Australia) to transition to a low carbon economy by 2050 (Doctoral dissertation, Murdoch University).https://researchrepository.murdoch.edu.au/id/eprint/65503/1/Hosein2022.pdf

Kholbekov, R. A. (2022). Theoretical Fundamentals of Using Marketing Activities to Set a Goal and Achieve it in the Activity of Supply Enterprises. EUROPEAN JOURNAL OF BUSINESS STARTUPS AND OPEN SOCIETY, marketing fundamentals assignment2(1), 8-10.http://innovatus.es/index.php/ejbsos/article/download/129/108

kickstarter.com., 2022. Omvos E-Scooter. Vida-a-gogo E-Scooter. Retrieved on15/06/2022 from https://www.kickstarter.com/projects/1466779331/the-vida-a-gogo-e-scooter-live-groovy-ride-in-style/description Lucas-Healey, K., Jones, L., Haque, M. M., &Sturmberg, B. (2022). Electric Vehicles and The Grid.https://arena.gov.au/assets/2022/03/electric-vehicles-and-the-grid-analysis-gaps-and-recommendations.pdf

Mau, M., & Mau, N. (2022). Concept for the harmony of mobility, economy and environment.http://publicatio.uni-sopron.hu/2375/1/Jubileumi_tanulmanykotet_I_2022_online_Mau-Mau.pdf
Narayanan, S., Chaniotakis, E., & Antoniou, C. (2020). Shared autonomous vehicle services: A comprehensive review. Transportation Research Part C: Emerging Technologies, marketing fundamentals assignment111, 255-293.https://discovery.ucl.ac.uk/id/eprint/10089865/1/Santhana_Review.pdf
Omvos E-Scooter (viewed 15/06/2022). https://www.kickstarter.com/projects/1466779331/the-vida-a-gogo-e-scooter-live-groovy-ride-in-style/description Vendor, A. C. B. M. (2022). Field lab–technology strategy with Mercedes-Benz Portugal: transformation in the automotive industry: analysis on formula 1’s branding and technology impact in Mercedes-Benz (Doctoral dissertation).https://run.unl.pt/bitstream/10362/138696/1/2020-21_fall_44402_andre-vedor.pdf

Zlatic, I. (2022). LLZO as a Solid Electrolyte for Next Generation Batteries and their Potential Application in Electrical Vehicles (Bachelor's thesis, NTNU).https://ntnuopen.ntnu.no/ntnu-xmlui/bitstream/handle/11250/2997780/no.ntnu:inspera:106166281:49621593.pdfsequence=1marketing fundamentals assignment

Appendix
MRKT11029 – Marketing Fundamentals
Second Assessment
Self-evaluation document
Student name: _________________________________________________ Student number:
_______________________________________________

I believe that my knowledge and skills to work on the assignment have been valuable. In addition, I have played as an active student and researcher in my section, expressing my views and ideas.

I have analyzed the market environment of new products throughout my whole assignment. I have evaluated the competitors, customers and other factors influencing the Omvos e-scooter or new development. I also used SWOT tools to assess the strengths, weaknesses, opportunities and threats of the I have represented involvement and motivation ever since I started my work. It was essential for a researcher to address the marketing strategies of the E-scooter that are needed to be implemented in the Australian market.

I have experienced some the challenges while preparing this marketing fundamentals assignment such as time management, during my assignment. I consider that I invest too much time in this assignment. I need to work on my potential for solving complex issues.