Assignment Task:

Crafting a Marketing Plan for Dresden Vision

Nature:

This is an individual assessment task split into two submissions. Part A is due in Week 3, and Part B is due in Week 6.

Instruction:

Note that using any company or product other than Dresden will result in a zero mark for this assessment.

You are tasked with researching Dresden Vision and preparing a report in two parts (Part A and Part B). The report should relate course theory to marketing activities undertaken by Dresden, demonstrating `marketing in action.`

Ensure your research is current (2014-2021) and derived from reputable sources like articles, newspapers, websites, and personal experiences.

Background Information on the Business:

The global eyewear market is valued at USD $157.9 billion in 2021 and is expected to grow at a CAGR of 8.4% from 2022 to 2030 (Grand View Research, 2020). Lifestyle changes and millennial preferences for accessories are driving market growth, with leading players focusing on modern, affordable eyewear designs to attract fashion-conscious consumers (Grand View Research, 2020).

The COVID-19 pandemic has further boosted the market as remote work and online learning increased screen time, leading to higher demand for anti-fatigue and vision correction glasses (Fortune Business Insights, 2021).

Despite domination by major players, new startups like Dresden are disrupting the market by offering quality, affordable, and sustainable eyewear options (Brandon, 2020). Consumers increasingly prioritize sustainable products, presenting both a challenge and an opportunity for the optical sector (Bowman, 2021).

Dresden, a Sydney-based startup founded in 2013, aims to offer sustainable optical products at affordable prices. Their products, made from recycled materials, are manufactured locally in Western Sydney using a zero-waste process (Dresden Vision n.d.). The company`s modular design and lifetime warranty differentiate it from competitors, offering durable, lightweight, and environmentally friendly eyewear (Brandon, 2020).

Report Requirements:

Your task is to develop a 2-part marketing plan for Dresden:

Part A: Segmentation, targeting, differentiation, and positioning strategies. Part B: Strategic recommendations to help Dresden achieve its objectives. The objectives of the marketing plan are to:

Identify a suitable target market for Dresden`s eyewear. Position Dresden within the market. Develop an Integrated Marketing Communications strategy using three tools from the Promotional Mix element. Your marketing plan should capitalize on current market trends and Dresden`s unique value proposition to drive growth and expansion in Australia.