BLYNC

MARKETING
PLAN

Final Report
Prepared by: Professor: Hamin Hamin
Group B

Flavia de Santana 2021015372

Shinetsetseg Nasanbayar 2021012282
Battogtokh Sukhbataar 2021004562
Byambasuren Purevdagva 2021012422
Lunibha Shakya 2021009332
Table of Contents

1. Current Situation Analysis 1

1.1. Market Summary 1
1.1.1. Market Demographics and Size 1
1.1.1.1. Geographics 2
1.1.1.2. Demographics 3
1.1.1.3. Behaviour Factors 4
1.1.2. Market Trends 5
1.1.3. Market Needs 6
1.1.4. Market Growth 7
1.2. Competition 9
1.3. SWOT Analysis 11
1.3.1. Strengths 12
1.3.2. Weaknesses 12
1.3.3. Opportunities 12
1.3.4. Threats 12
1.4. Product Offering 12
1.5. Keys to Success 13
1.6. Critical Issues 14
2. Marketing Strategy 15
2.1. Mission 15
2.2. Marketing Objectives 17
2.3. Segmentation 18
2.4. Target Markets 19
2.5. Positioning 19
3. Marketing Program 20
3.1. Product Strategy 20
3.1.1 Products Elements 21
Pricing Strategy 22
3.3. Communications and Influence Strategy 23
Marketing Publications and social media 24
3.4. Channel Strategy 25
3.5. Customer Service 26
4. Financials and Forecasts 27
4.1. Financial Objectives 27
4.2. Sales Forecast 27
4.3. Expense Forecast 28
5. Implementation and Marketing Controls 28
5.1. Implementation 29
5.2. Marketing Organization 30
5.3. Contingency Planning 30
References 31
Current Situation Analysis

1.1 Market Summary

The world is evolving at a breakneck speed. Communication and transportation

technology improvements have made our lives easier. Work is becoming less
physically taxing while also requiring more time. This is what makes our lives more
hectic than they were previously.
People's health is deteriorating as a result of the advent of fast food, and they are
more susceptible to a variety of illnesses. As a result, individuals nowadays are
embracing healthier lives. They are more aware of their fitness and participate in
more beneficial workouts as a result. However, as a result of the current epidemic,
individuals are reluctant to go outside and have begun to exercise at home by
acquiring exercise equipment. Blync gives the ability to ride a bicycle inside the
home at any time of the day, making it incredibly practicable and convenient. It
keeps track on fitness and encourage people to live a healthy lifestyle. We can also
use the VR gadget to play games and race with our friends. Furthermore, we will
experience the surroundings according to our preferences.

1.1.1 Market Demographics and Size

With time, people's lifestyles change. They are urged to concentrate on eating well,
exercising, and practising yoga. The majority of people are attending gyms, and
those who don't have time have begun exercising at home using home exercise
equipment. Over the forecast period of 2021-2027, the worldwide Commercial
Exercise Bike Market is predicted to grow at a quick pace. For those who already
have bikes or VR sets at home, a device like Blync may provide the sensation of
riding a bike as if we were in the outside world while remaining at home.

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1.1.1.1 Geographics

The demand for home equipment has expanded globally. Along with
awareness of the health and popularity of VR games, the other contributing
factor for the expansion of Blync’s market is population and its growth in
Australia. As per the Australian Bureau of Statistics in 2021, all of the states
except Victoria showed positive growth. The overall annual growth was 0.2
per cent. Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Hobart,
and Darwin have significant population densities, accounting for more than
67.70% of the total population.
45% of the population is between the ages of 20 and 49, while roughly 31% is
between the ages of 50 and 59. Obesity percentages are also closely
proportional to population density.
Obesity affects all age groups, as seen in graph 2 below, with the lowest
proportion afflicted in each category being about 45%. As the population and
obesity rates rise, demand for home equipment like Blync is expected to rise
in these locations and among these age groups.

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1.1.1.2 Demographics

Blync bikes are mostly used by teenagers to middle-aged people who are
concerned about healthy life and new technology like playing games in VR.
There is a rise in demand for home exercise equipment like stationary bikes
as it will allow people to exercise whenever they want as well as the same
equipment can be used by another family member as well. According to the
various research carried out in different parts of the world the overall
exercise bike market was worth US$ 597.5 million in 2020 and is expected to
rise by 3.4 % in the period of 2022-2027. This equipment is mostly used by the
age group between 25-44 and then by 45-64 years old as these age groups
are more interested in modern technologies and have a stable income. Job
openings have increased by 61.83%, indicating that the epidemic has had a
significant impact. Despite this, employment increased by 2.14%, while
multiple job holders increased by 5.17%. Similarly, typical full-time weekly
total wages increased by around 1.6%. The graphics below further show this
point. As a result, as more individuals become employed and begin to work
several jobs, they will become busier and have less time to exercise. People
can now afford to acquire home exercise bikes as their weekly income rises,
resulting in an increase in demand.

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1.1.1.3 Behaviour Factors

People are changing their lifestyles with the change in time. Prevalence of health
risk factors such as overweight/obesity and increment in susceptibility to various
diseases such as Diabetes and Cardiac disease, people are encouraged to focus
on eating healthy, doing exercises and doing yoga. Due to the pandemic
lockdown, people were restricted from going out to do outdoor activities.
Therefore, it has led to a surge in buying home exercise equipment such as
exercise bikes and ease of buying online has acted as a catalyst in buying these
products. Australia's internet purchasing increased by over 32% from July 2020 to
July 2021, almost equal to the previous fiscal year's 33.2% rise. (Moskovska, 2021).

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1.1.2. Market Trend

1. The pandemic effect of COVID-19

The COVID-19 has accelerated the growth of various industries, including

video conferencing, desktop virtualization, and entertainment streaming
along with online purchase prevalence and is likely to have a positive
influence on the growth of our product market.

2. Gaming industry prevalence

As depicted in the image, technological advancements enable indoor bikers

to compete and play online games in a virtual environment. The
implementation of 5G networks and content creation is hastening this
increase.

3. Development of underlying technology

The growing use of artificial intelligence (AI) in virtual reality (VR)

applications is developing characters and creating an immersive
environment, as well as testing 5G to boost internet speeds in global network
design (Report Linker, 2021).

4. Increasing health concerns and lifestyle changes

As the new generations are coming to the market, they are choosing
healthier entertainment products such as Blync to avoid health problems
rooted in being sedentary and motionless for a longer period. They are
promoting a healthy routine of exercises, however given that there are a lot
of restrictions in the common, our target population prefers indoor cycling
equipment.

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1.1.3. Market Need
As customer knowledge of VR
technology grows, the market has
experienced an upward trend in
demand over the last several years, with
demand estimated to reach 68.6 million
units of VR devices and software yearly
by 2023 (Statista, 2021). Existing VR users
show an extreme level of satisfaction
with the current development and
intend to spend more (Koetsier, n.d.).

According to data issued by the ABS,

consumers are becoming increasingly
sedentary. Most people between the
ages of 25 and 64 work seated. Due to
the outbreak, sports facilities are closed,
and people are cautious to travel to
areas where there will be a huge crowd.
As an outcome, the demand for home
exercise equipment with cutting-edge
technical features, data, and reports on
the activity being performed is
increasing. People would appreciate the
items' fast delivery and after-sales
support.

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1.1.4. Market Growth

The worldwide virtual reality market is expected to develop from $6.30 billion in
2021 to $84.09 billion in 2028 with a CAGR of 44.8% (Fortune, 2021).

Figure 6 Indoor cycling market size growth forecast in billion US dollars (hardware
and software)

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 The indoor cycling software market is expected to grow at a 7.8% CAGR from US$
50.15 million in 2019 to US$ 90.80 million by 2027.

Features such as a diverse choice of training courses and riding pathways,

personalised workouts, and so on are projected to increase demand for indoor
cycling software among commercial sports facilities, fuelling the expansion of the
North American market (The Insight Partners, 2021). The growth for other regions
(Europe with 23.3%, the Asia Pacific with 41.1%) will be higher due to popular
demand for VR technologies and the increasing purchasing power of target
customers.

The steady growth in disposable income, rise in middle-class population, high

demand for consumer electronics, fast-expanding population, and concern about
pollution levels in various Asian countries are the key reasons driving demand for
indoor exercise equipment in the APAC area.
Table 1 TAM, SAM, SOM summary

(Source: Student calculation, (ABS, 2020, (Statista, 2020)

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1.2 Competition

The Blync is a new brand and is currently unknown in the Australian market.
All these below brands are in the Australian Market. In terms of community
presence and active users, Zwift and Sufferfest are the strongest
competitors in Australia. But most of them haven’t VR display settings and
required expensive high-speed computers or hardware. It makes Blync’s
advantage.

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1.4. Product Offering Value to User
Blync bike was the first to provide a
VR application with a route sensor
and a speed sensor which allows
users to explore the virtual
environment. One of the most
distinguishing characteristics is the
path sensor's dynamic sideways
and the combination of 3 distinct
tasks intended to travel outside or
socialise and explore multiple
environments while playing
computer games and even create
their own virtual space.

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1.3. SWOT Analysis

Blync focuses on delivering fundamental elements of the value which

contain the social impact, life-changing, emotional and functional elements
such as they provide motivation, belonging, reducing anxiety, wellness,
fun/entertainment, attractiveness, saving time, reducing risk, and social
connections.

In summary, All above the elements connect to internal and external factors
to SWOT analysis. which is given to develop opportunities, decrease
weakness, expand strength, and help to reduce threats for clear
understanding.

SWOT analysis on existing Blink operations Blync currently only sells online,
and almost brand new products for the current market, indicating a limited
situation for SWOT analysis. However, the table below shows the swot
analysis based on current operations.

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 1.3.1. Strengths

Default product: You can ride your own bike in the virtual world at home
Bundle price: Blync offers solo price and group products at one price
Suitable for all VR devices: Blync the tool work in combination with all kind of VR devices
Support- Blync support for all bicycle, also application support mobile and pc
Use it for multi-purposes: Entertaining, gaming, healthcare, education and sport

1.3.2. Weaknesses

Only offer bicycle tools: Must work with VR devices and bicycle
Costly: If a new customer would like to use it, have to bicycle and VR devices
Similar products: available on the market such as fitness spinning
Content: Limited developed content on VR devices
Financial situation: Requiring more investment to increase customer and develop
1.3.3. Opportunities market

Developing target market: Attracting new customers

Technology: Work with latest combination technology of bicycle and VR- it makes a more
interesting for customers
Create customer care for after purchase: Increasing customer positive feedback on the
internet
Developing Blync customer community: Organizing Blync events all around the world

1.3.4. Threats

Legislation: Overseas legislation by online selling

Products: Increasing Similiar products
Healthcare: The critical issue for healthcare (VR devices make more health risks for
Blync)
Uncertain situation: Overseas economic factor and political factor, and customer drop-
off
Customer behaviour: Customers prefer to outdoor bicycle activity

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1.5. Keys to Success

Australia has added some marketing campaigns to promote and encourage

health and wellbeing awareness over the last years, and this has been
meaningfully increased after the global pandemic. The effective awareness
of a healthy lifestyle is the most important objective to battle against
illnesses such as obesity, cancer and coronavirus.

Nowadays, the Australian population remains monitoring government advice

of health authorities due to a new coronavirus variant and possible new
lockdown. Many companies are incentivising staff to stay working remotely
from home. The global pandemic provides a huge opportunity to acquire,
delight and retain new customers due to the convenience to exercise from
anywhere easily and being safe, allowing consumers to connect people
through Virtual Reality devices, regardless of place, time, season, gender,
age, country, weather and others.

Blync can track fitness activity while users are accessing virtual reality (VR)
devices to connect with friends, families in different environments
simultaneously, allowing them to ride bikes together, play games and set up
new or their own environment as if they were outdoors and with real
sensation. The Virtual Reality (VR) device is the highest technology used to
influence a person’s emotions through the potential and capability of
sounds, movement, colour and improving the user's wellbeing and mental
health from the comfort of a customer house or anywhere.

Based on the current situation, Blync can invest in a campaign to emphasize

the importance of keeping exercising indoors to maintain a healthy lifestyle
for all target audiences, while promoting, driving and encouraging
consumers to effective purchases, to activate physical and mental health
awareness promotional campaigns in accordance with Australia government
guidelines.

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1.6. Critical Issues

Blync was established in a global pandemic period and did not invest much
in marketing communication, digital and promotion advertisement. As a
result, the company does not know their real potential target audience. In
addition, there is no reflection about the company's marketing research to
analyse real impact and benefits to keep exercising regardless of any life
circumstance to mental health, using virtual reality technology to improve
the customer experience.

Digital marketing has an important role to promote the company and

prospecting new potential customers. There is low engagement and
publication about Blync products on their social media. Nowadays, it is truly
important to build a strong “customer relationship” to communicate and
expand directly with the followers, which can become the potential buyers.
Also, with their engagement, the company will be able to understand what
drives Customer Satisfaction through Instagram, google or Facebook report.

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 2. MARKETING STRATEGY

2.1. Mission

Slogan: Cycling convenience, time saving, comfort, and

technology - It Does a Body Good.

Tagline: “Fitness through indoor cycling with

entertainment and comfort”.

The company promote mental and physical health

through accessible, easy, comfortable, convenience and
time-saving products for busy worker. In conjuction
with a synced virtual reality device, people can boosted
the experience riding a bike with friends and also, play
games together simultaneously.
.

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 2.2.Marketing Objective

Blync identifies SMART objectives such as specific, measurable, achievable, relevant and time-
based, which are given to a clear understanding of the marketing objectives.

Develop Blync brand loyalty

Develop brand loyalty by 20% in a year by increasing a brand loyalty program which is
based on customer loyalty such as customer engagement, constantly communicating with
users or customers, sharing customer experience to expect customers.
.

Creating Brand awareness in the Australian Market

Creating brand awareness by creating social platforms, sharing Blync posts every fortnight
for the following year on the Blync website, Twitter, Facebook, Instagram, VR events and
other social platforms.
.

Creating online sales

My target is young customers, they are interested in technological products and use more
internet-based activity. More focus on online selling by 30% by the end of the year by
creating social platform traffic with monthly promotional social media events.

Create a digital presence

Blync would like to create more digital presence tools that have become a good business
environment for online. Because Blync is new in Australia. Creating search engine
optimization and also posting every fortnight on social media platforms for the following
year to obtain 30% increasing social media followers each season.

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 2.3 Segmentation

Blync must have well determined segment to effective actioned to increase in Australian
Market. To illustrate detailed, follow the table below:

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 2.4. Target Market

Potential Target Market: Young families with no dependent or 1-2 kids where parents or
individuals aged between 20 and 55, with an average or higher income group, who like indoor
riding for a variety of reasons such as gaming, exercise, or entertainment and who are eager to
adopt new technologies.

Given Blync's primary idea, the target market will be people who are active in life, participate in
sports, prefer a healthy lifestyle, and enjoy trying new things that are exciting and interesting.
We can see that there is a similar concern about mental and physical health among busy
workers, exercise addicts, and parents' groups.

Moreover, it is a supportive and accessory product which implies that existing owners of VR
devices are the most potential market we could aim to make our position.

Additional software, such as Blync, will necessitate a higher level of income security, making
these products unlikely to be adopted by children. However, professionals with a reasonable
need for demand, such as a strict schedule restraint for a healthy lifestyle, a strong passion for
online gaming or exploring new places with friends, may find these products appealing.

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 2.5. Positiontioning

Bylnc has to raise brand recognition among potential buyers

because it is a new entrant in the market. Customers benefit from
this equipment because it makes their lives easier and healthier.

Blync offers the following major things for brand positioning.

Good pricing: Blync has a price advantage over other competitors because it offers bundle
pricing. The Path Sensor, Speed Sensor, and access to the App with all of the places in which you
can cycle are included in the bundle.

Compelling Features with virtual reality: Blync has trendy features that differentiate it from
other products. Blync makes it possible for the head tilt movement, which will provide the rider
with greater flexibility and control while also making the rider feel more stable. The use of VR
devices will make the experience of a beautiful virtual environment from inside the house.

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 3.Marketing Program

3.1 Product Strategy

As we know that the product strategy has two subsectors: new product development and current
portfolio development strategy. Our new product strategy will be mainly focused on defensive
strategy (HBR, 2005) where companies usually adopt a new product development in the current
market and new features of the product based on the existing customer needs and desires.

Blync is offering a product that enables consumers to explore a virtual world with their own
bikes without purchasing expensive indoor cycling bikes and other equipment such as screens.

This type of product always requires constant software updates and cool feature additions to
keep up with their competitors. For example, after the first introduction of the Blync package,
they have added Blync KC, Blync SDK, and Blync Game App extensions into their software design
(Blync, 2022).

The following section identifies and summarizes specific components of current product lines.

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Product elements

1. Name (brand)

The Blync brand logo is black and yellow, which aligns with the creative and innovative style of
the brand name "Blync".

2. Features

Main features of Blync are as follows:

- Appropriate size: Easy to carry everywhere
- Flexible suitability for various kind of bicycles and VR devices
- Path controller with side motion
- You can create your own routes of cycling
- Enabled group riding and gaming
- Accessible on multiple systems such as IOS, PC or Android
- Affordable package price

3. Product quality specification (uniqueness or differentiation)

Side motion and Speed sensor enables the consumers to use the front of the bicycle which
imitates real cycling movements promoting exercise and more reality experience while tracking
their performances. High quality plastics and metal have been used to make the path controller
and speed sensor which make it more appealing for environment enthusiasts since all materials
could be recycled and durable to use for a longer period.

4. Packaging

The packaging consists of a protective hard carton box and individual with a single plastic wrap
for each bundle which includes 1 path controller, 1 speed sensor and companion app. We are
planning to adopt environmentally friendly packaging for long distance deliveries.

5. Guarantees

We offer 14 days of receiving the product and cancel the service or return the product.
Furthermore, we provide the customers with the right to reject products that are broken or
faulty when received.

6. Support services

Blync uses discord as the main enquiry line where the response turnover is quicker (around 1-2
days). For all other requests, you can contact via their website or find the extra information on
social media channels (FB or YouTube channel or twitter). All orders made through their website
are protected by Australian Consumer Law (ACL, 2011).

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3.2 Pricing Strategy

As we know that the product

strategy has two subsectors: new
product development and
current portfolio development
strategy. Our new product
strategy will be mainly focused
on defensive strategy (HBR, 2005)
where companies usually adopt
a new product development in
the current market and new
features of the product based on
the existing customer needs and
desires.

Blync Package:

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 3.3 Communications and Influence Strategy

“Companies that engage with their customers digitally

grow twice as fast as those that don’t” (PWC, November
2013).

As previously defined the marketing objectives, our strategy and tactics will be set
to direct resources and effort to achieve these objectives as develop Blync brand
loyalty, create brand awareness in the Australian Market, create online sales and
create a digital presence.

Creating a highly impactful campaign across the Australian Market and influence in
the mindset of local target audiences by showcasing the reasons why acquiring Blync is
a truly unique product and experience – one that is also comfortable, convenient,
technological, easy, cost effective and fun. This communication and influence strategy
is based on as below:

Advertising

Creating advertising on Australian television, whilst still a very significant influencer

and important to the overall strategy to drive brand awareness and build equity for
Australian Market, needs to be complemented by a more strategic advertising
commitment to cater for growing consumption of information online in all of channels
created in local marketing such as Facebook, Instagram, youtube in Australian pages.

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 Marketing publications and social media

To achieve the Australian mass audience in creating brand awareness with cost effectiveness and to develop customer
engagement directly with target audiences the communication will be through Instagram, Blogs, Facebook, and ads
advertisement on YouTube.

The Objectives include developing an online advertising approach that will link with local Wi-Fi access and push messaging
to captive Australian audiences. Additionally, social media is the fastest and most effective way to communicate live
information with customers and generate loyalty with local market.

To create and boost engagement, will be actively create online content across these social media as illustrate in the table
below:

All these channels will possess a consistent tone of voice and sense of personality. However, all will be driven to reach
Blync goals.

Retail display and B2B online partnership

In line with Amazon, Ebay Australia and some physical sport equipment store partnership, Blync will be able to expand the
supply chain of the product and significantly increase sales. There is significant latent potential to grow revenue profitably
through the development of an innovative and customer satisfaction.

Basically, Blync will be displayed in the physical sport equipment store near the bike area to better visibility of this product.
Amazon and Ebay, when the customer searches for cycling products, Blync will be shown as part of this department in detail
to promote and increase sales in local market.

Website

The website is the first point of call, whether the customer arrives directly, search on google engine or from a partner site or
advert. However, there is no Australian website for Blync. For these reasons, the website will be created for users to buy and
navigate easily, and customers will see a clear choice of promotion, prices, and payment method locally.

The new website will be designed with Australian market customers in mind and will provide a self-management tool for
customer’s complete purchase.

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 3.4. Channel Strategy

It is very crucial to devise a strategy that will help us make a clear process on how
Blync can make its way to the end users by using different means of business
commerce. There are various channels that Blync can use.

3.4.1 Online
Because of the covid pandemic, there is a boom in online sales. People prefer to buy
online. Considering this, Blync’s main focus will be selling products online. For that we
can use the following various means.

3.4.1.1 Website:
A Australian website is required to establish an online presence and serve as a platform
for providing all product-related information. Blync has a website of its own. This will
assist to boost Blync's credibility even further. Blync's distinctiveness, features and
benefits, contact information, and payment information may all be found on this page.
This will assist to improve Blync's brand image by allowing any changes and
announcements to be sent swiftly, as well as aiding in digital marketing. (Kaplan, 2021)

3.4.1.2 Traditional Marketplaces:

Traditional marketplaces such as Amazon, eBay, and Google Shopping offer a wide
range of functions. There is a huge population that has been using these channels to
buy products online. Blync can tap into these platforms' current consumer base. (Collins,
2021)

3.4.1.3 Modern Online Marketplaces:

Blync can also employ modern online markets, which are content-driven platforms that
enable commerce. One of these is a social media site. Facebook, Instagram, TikTok,
Spotify, and Pinterest are just a few of them. Blync can take advantage of a large number
of platform users who can supply constant product information and purchase our goods
in a much faster and easier manner. Similarly, Blync can launch its own YouTube
channel, where it can post videos describing the product, its features and benefits, how-
to tutorials, and customer comments. (Collins, 2021)

3.3.1.4 Affiliate Marketing:

Blync can use Affiliate marketing to promote its product. Different types of Affiliate
Marketing can be used and some of the most popular ones are Influencers, bloggers,
paid search focused microsites, email lists and large media websites. All of these
channels can also be used to create impact on purchasing decisions of a large segment
of the population. (Enfroy, 2021)

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 3.5 Customer Service

Blync will create customer service, which is customer service used to manage customer
relationships. Creating customer service helps consumers quickly resolve any issues related to the
product. In other words, the advantage of customer service is that it can provide guidance to help
build a customer experience, increase customer value, and obtain a customer's real experience

Customer engaging
Customer guiding
Improving customer experience

Consumer behavior varies, and reactions to services and products are also different. Therefore,
Blync considers customer service in the context of professional 3P. First of all, the main principles
of patience, people-first, and professionalism are followed.

In this section, Blync considers 2 concepts as customer service communication tools and
customer service software.

Customer service communication tools:

Live chat - Website or Facebook messenger

Automatic telephone system and SMS text support
User’s discussion forum
Blync application’s section for “contact us’”
Customer service software programs
Hootsuite- managing tools for customer service
HubSpot- ServiceHub- customer service managing platform

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 4. Financial and Forecasts
4.1. Financial Objectives

The major financial objective of Blync is to

decide the expense of the company's long-term
stability and profitability. The dividends and
capital gains are the source of wealth for
shareholders so Blync will be focusing on the
maximization of the shareholder’s wealth. The
rate of Return on Investment analysis is a
powerful incentive to maximize the value of a
company’s assets. So, Blync will be focusing on
increasing sales growth and revenue (Aisha,
2021).

4.2 Sales forecast

Blync’s serviceable obtainable market is 1,172,608. For the first year, Blync established product
awareness and intends to 10 % of market size. From second year, Blync consistently boost sales of
indoor cycling software and hardware by 15% each year, then sales are predicted to increase steadily
over the next two years, reaching $23,249,550 by the end of 2024.

In terms of monthly and quarterly sales patterns for the Discover pack and Bundle pack will bring in
significant income for Blync period of Christmas season and majority holiday promotion days.

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 4.3 Expenses Forecasts

As part of Blync’s marketing strategy to release campaigns in Australia, expense forecasts are essential to
determine real indicators for plan implementation and to measure all capital investment needed to future growth
focused on effective financial estimation.

In line with Sales Forecast, Blync will evaluate expenses quarterly and annually to compare and adjust budget in
short or long-term based on previous forecast valuation. Consequently will increase moderately budget advertising
and sales promotion in Australia Market to achieve effectively the company target sales and profitability growth
with low cost.

The table below provides a Blync Marketing expense forecast and these calculations include a terminal value based
on the projections for the (5) five year of the short-term plan, with a growth rate assumption applied.

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 5. Implementation and Marketing Controls
5.1. Implementation

Who is in charge?

Since Kinbona is a start-up company, there isn't a big marketing team, however, the quality of their
recent work is glamorous and eye-catching. Consisting of 4 or 5 marketers and one supervisor, this small
marketing team is responsible for all Blync's media presence and promotional activities.

When is the right time?

The timing was perfect for Blync to start the marketing campaign in 2020 since COVID-19 was affecting
positively on the industry given the nature and necessity of the product. The second round of advertising
and marketing is planned to commence no later than January 2022. Blync will first focus primarily on a
pull and push approach until it meets half of its financial goal, at which point call to action marketing will
be prioritised to increase website traffic and online sales.

Where is the right location?

Choosing the right location worth half of all efforts to create strong brand awareness and build customer
support. Although, Blync is selling the product solely on online sales which makes the right location can
be everywhere. Currently focusing on North America, next the closest and the most appealing market, it
is planning to supply its product to Asia pacific, more specifically Australia, India, and China which is the
highest growth market.

After entering the Australian market, we will start the marketing campaign of the product in four major cities of
Australia, namely Sydney, Melbourne, Brisbane, and Canberra. We choose this location due to our target market
of busy scheduled young professionals and families and gaming and home fitness enthusiasts. It is no wonder
that those who are keen to new technologies usually live in metropolitan areas (Jonathan Woetzel, 2021),
additionally often new trends initiate in the larger cities.

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 5.2. Marketing Organisation

Blync has been identified as the latest device for the bicycle with the facility of virtual
reality and the one which can measure fitness to be introduced in the major cities of
Australia like Sydney, Brisbane, Melbourne, Perth, and Adelaide. Blync’s organization
structure will be divided based on target customer segments. The types of managers are
executive manager, production manager, marketing manager, finance manager and
human resource manager. Marketing professionals must be appropriately taught to deal
with clients, according to management. In addition, a specific sales objective will be set
for the staff.

5.3. Contingency Planning

What risks are posing to implement a successful marketing objective.

Supply chain disruption: Because of the pandemic hit and expected trouble in the factory, the
supply chain could be disarranged or unforeseeable delay int he delivery of the product.
Economic conditions: The company’s prospect is high impacted by an economic situation which is hard
to expect the changes due to the COVID-19 and related effects.

Production errors: Since the company is not charged in the production stage, faulted products could
be delivered to the user.
To mitigate this, they need to guarantee the return of faulty product procedures smooth as possible
with supporting the customer service team.

Competition: Strong rivalry in the technology and gaming industries poses a significant risk in
business innovation and market positioning.

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