New Product Marketing Plan of COS Australia

Collection of Style (COS) is the high-end sister level of H&M (Hennes & Mauritz AB). COS is globally well known for its exclusive and fairly priced clothing and accessory items. The organisation possesses 116 stored worldwide and very recently, they have initiated their business venture in Melbourne, Australia. The report has evaluated strategic analysis of COS in terms of new product development and introduction in the market of Australia. COS is about to introduce their beauty and male grooming product range. The internal analysis of the organisation has evaluated VRIO framework and Ansoff’s growth matrix. The VRIO framework have detailed the strength of current and anticipated resources of the organisation while Ansoff’s matrix has examined the current growth strategy and their effectiveness in the competitive advantages of the organisation. The external driving forces of the Australian market has been analyzed their PESTEL analysis. Finally, the discussion of Porter’s five forces has enabled in evaluating the strength of competitors in the present market. These analyses have assisted in evaluating the key strength and opportunities of the organisation as well as the critical issues in terms of introducing new product in the Australian market. The results of these analyses have been used to generate strategic solutions that can assist the company to influence their competitive positioning. The strategic analysis can be useful to indulge in different types of media promotion along with PR activities. It can also assist management to establish the product as an iconic brand with cost-plus pricing to the consumers. Finally, the proper usage of differentiation, horizontal integration strategy has been suggested to increase the competitive advantage of new product launce in Australian market.

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