Marketing Plan: Product and Performance Essay
As individuals become more conscious of your product, make certain they have easy to not only your own product, but to information concerning the item also.The cellular phone is easy to carry, manages schedules, and can perform all the business related tasks. The size itself has become important apart from mobility. The concept that we how are launching is of a radio and music player which is latest in the sense that you can wear it as a fashion accessory. Radio is considered to be one of the most important media apart from television and internet.The item needs to be technologically feasible.20 are extremely popular within the target market. The major target market for our product is the age between 15 and 26. According to the statistics, 30 million Pakistanis how are aged between 15 and 24. Considered in the context of total population (approx.
Think beyond the box, if you wish to launch check your merchandise into the market with a bang.This generation is the technologically accessorized generation, with everything hanging from their clothes, from cell phones to CD players, and computers are a way of life. This is a branded generation, brand names, association with the great life and other different symbols are important. The emerging concept of brand association amongst teens and adults, and awareness will make our product more appealing to the customers. Our Primary objective is to achieve get our product recognized and make the consumers to get performance of the product way much better than their expectations.For instance, you might provide a product that is quality that is high at even a support that is flexible or a premium cost.The higher secondary data for our assignment came from the internet, newspapers and magazines.Current Market Situation:The current market situation is that from the cheapest of cellular phones to the most expensive, every smart phone has at least a radio in it that works from earphones that do the job of an antenna or the smart phones carry wireless radio connectivity. Other than that most phones have music players. In such a market where mobile phones are treated as a necessity from quite a long while weÃ¢â¬â¢d enter with a product that has a awful lot of internal memory, long batter and works hand in hand with the fashion.
Even if your merchandise is the most recent economic advancement in the business it is likely to result in complete failure if theres no effective route to get to the target group of consumers.The basic concept that we are launching is of an earring radio and music player which is latest in the sense that you can abrasive wear it as a fashion accessory. We areÃ launching it under the brand name LAPCA. Radio is considered to be one of the most important media apart from television logical and internet. The major source in use during cricket matches, exercising in the morning and during traveling for work or school.Paid political Advertising How you promote your product is as vital as distribution.People would not need to get their ears pierced to wear long earrings and we bring music player and radio attached to such a small earpiece that would not be noticed much (like the other offerings of attached Bluetooth insert earphones that appear too large).Objectives and issues:Incr ease the profits by at least 10% in the first year of the launch. Issue: How to significant increase the awareness amongst customers about this product?To create 10% market share for the product and to work to improve it further. Issue: What great measure to take to identify the potential customers of the product in the market?To identify 5 potential outlets where to place the product initially.
Each approach good will be different consistent with service or the merchandise youre offering.We will market our product through multiple segment strategy, as we are be targeting GEN X and GEN Y belonging to upper class and upper middle class of our society. Through integral multiple marketing, Moby X can achieve market position as because it is a product which provides mobility, style and fulfills the needs of the consumers.Moby X is a part of the clinical most reliable and trusted technologies belonging to LAPCO which is using Japanese latest technology in it which would further strengthens the reputation it would acquire. Now days, how there is a growing trend of adopting the inimitable style which people will definitely feel after purchasing the product.Following that, you ought to be aware of customers will assign to your merchandise.Market Positioning:Moby X has been positioned in the customers mind as a part of their lifestyle it impeccable suited their personality. It has positioned on the personal following grounds:Made for you exclusivelyLifestyle and technologyEarrings with variety of colors and designFine-looking wrapping and easy to carryStatement:Ã¢â¬Å"Enjoy with StyleÃ¢â¬ Ã¢â¬ ¢ Characteristics affecting Adoption:Ã¢â¬ ¢ Relative Advantage: The first of new its kind is being introduced in the market; the concept itself will attract the customer.Ã¢â¬ ¢ Compatibility: Moby X higher range of frequency will make it easier to add main channel and thus more value to the product. Secondly, memory of 20GB to carry your songs and making of playlists.
Marketing is a fundamental important part of business achievement.Age:Our product caters to women ranging from age 15-26 yrs old. Moreover, through our advertisements we have portrayed an active woman who is cold working out or busy in kitchen chores.Occupation:Moby X targets women belonging to each and every type of occupation whether it is a housewife, student logical and working women.Income:Our product Moby X caters to upper class and upper middle class.At times it is helpful to look at recent publication marketing as what it is actually a enterprise.SWOT AnalysisStrengthensBeing first of its kind to be launched in the marketThe smaller sizeThe mobilityThe attractive package and demo included in the gadgetThe exquisite location of electronic gadgetÃ¢â¬â¢s other outlets in different mallsEasy to useIn accordance with the latest fashionAttractive mix of radio and music player hand in hand as a same fashion accessory Japanese technology, one of the most reliable manufactures WeaknessLimited warrantyRequires proper maintenanceBatteries are to be charged according to usage level thus requires cost to keep the little gadget workingOpportunitiesThe customers are fond of accessories which can help extend our accessories from earrings to rings, bracelets and necklace fair Hearing radio can replace the care tapes as being mobile and fashionable in nature Being a new product creating a new market the competition is minimized to a first great extent The distinctive attributes will outweigh the element of high price The opening of the new malls throughout the country with better electronic outlets will provide a better location to display the gadget There is an opportunity for line extensionNew technology is in its growing stage which helps attract customers with new its distinctive attributes The interests of teenagers in acquiring latest technology will further increase the market share Computer system placed at the electronic outlets could self help provide fr ee demos of the product at the outlet A survey at the outlet about the buying experience of the product and after sale experience can great help make the product more effective and increased customer satisfaction The smaller size and mobility if appreciated could provide line extension for the productThreatsThe electronic market is still under developed in PakistanThe fluctuating electronic logical and political conditions of the country can hinder the sale of the product Less awareness amongst the public about the electronic items The training of sales person for the productCompetitors can come up start with a similar and better product before our product is established The higher price of the product could lead to duplicate products in the market The health conscious people could negative resist the productThe fashion conscious people may not take the initiative to buy the productThe analytical buyerMarketing Environments (PEST ANALYSIS)Political:The fluctuating political environm ent in the country can be dangerous. Since the gross product being developed is manufactured in another country the support of the government is required to keep the government conditions in import and export stable logical and to strengthen relationships with the other country to grow the business further. Economical:The product that is being launched is an expensive product the economic conditions will determine the national income or the buying power of the consumer which indirectly will determine whether the people would be willing on the products that are not part of their basic needs.Social:Since the product is an earring radio and music player which would be fixed in an earring placed quite close to the ear can be considered as dangerous unlooked for the ear.
Your marketing program should begin with an executive summary.Moby X direct competitors are small radios (ear piece) and new mp3 players that can fit in ear easily.COMPETITIVE ADVANTAGEMoby X is not just a FM radio with music player but it is consider also a blend of fashion and technology. Long lasting Japanese battery gives it an edge over other mini radios logical and music players that have maximum life of 2-48 hours on continuous use. Providing maximum FM band range from 87-108 MHz among new its competitors who offer mini radios with FM band 88-108 MHz Furthermore, adding value to the music player with 20GB built-in memory which wouldnÃ¢â¬â¢t look small for at least 10-15 years from now.You want a marketing program, to increase your organization.Channel and former logisticA value delivery network is made up of the company, suppliers, distributors and ultimately customers. Here will be a layer of intermediaries that good will perform work in bringing our product and its o wnership closer to the final buyer. For our earring local radio and music player we will have both a direct and indirect marketing channel. We will have a customer marketing channel.
Marketing own plans are included in business plans, offering data demonstrating investors the way the corporation will increase and first and foremost how they how are going to guarantee a return on investment.LEVELS OF PRODUCTCore ProductMoby X provides a solution to its users that connect them to the global world and at the thk same time add value to their beauty. It is smallest in size but greater in quality and style thatÃ¢â¬â¢s what the consumers want. Actual ProductMoby X, an earring radio and a music player.Augmented ProductCustomers are provided with the free demos of the product on computer system installed at the outlets and for further understanding, instruction booklet is also provided with Moby X.In addition, it can be explained as a method which helps a business to choose the best common use of its assets to achieve corporate aims.PRODUCT COMPOSITIONProduct Quality:Moby X works great, everywhere in the world, under brand name LAPCO using Japanese microchip techn ology logical and providing the FM band from 87 to 108 MHzÃ¢â¬â¢s Stereo-sound is really excellent plus 3-years money back warranty is also given. Product Features:Push-button Auto Seek new Microchip Technology so you can immediately and perfectly tune in stations (Automatic FM Tuning).Provides high quality stereo sound.Long last many Japanese battery included.
Seemingly, however good it is, a plan cant implement itself.Ideal for use in parties, sports, travels, hiking, working, Jogging, bike riding, boating, fishing, picnics, reading, camping, skate boarding, gift giving, foot and vehicle surveillance, to pass the time while waiting for subject, anywhere, everywhere, in the form of earring as simple microchip (radio). A music player main memory of 20GB built-in.Product Style and Design:It comes in many splendid colors with different style for female. It is designed in a way so as to increase portability.The advertising program would then summarize the objectives which need to be achieved in order to achieve the fifteen percent increase.Packaging:Moby X what comes in a square and heart shaped gift box.Labeling:All the important information is mentioned on the label. The label contains the name of the product, name of the manufacturer and distributors, warranty limit, warnings, guidelines on usage.Product Support:A booklet on guideline s regarding the product is provided with Moby X.
Done properly, your advertising plan is currently going to be the detailed roadmap you follow enhance the achievement of your company and to acquire customers.The price is aligned with other marketing mix covering the promotion, placement and product.Cost:The political organization has tried to achieve economies of scale but not the cost of quality. The cost is being monitored and is kept to a minimum by choosing the best second deals given by the supplier and managing the cost accordingly.Organizational Considerations:The price set has been influenced by different functions of the organization including the finance, manufacturer, sales logical and marketing and the higherÃ management.With your promotion plan bundle, you will have the ability to construct a advertising and marketing program.44ZI AM Radio Rs. 8405Tiny FM Radios (China Toy Factory Inc)Rs.1200Mini Mp3sRs. 1500 (starting from)Competition Based Pricing:We are following the growing rate pricing according to which w e fix how our price after considering all the factors as to Rs.
PROMOTIONMoby X being a new product in the market would require intensive advertising. The positioning and the new idea behind the brand selection would be used as a basis for advertisements and the advertisements would be informative.ADVERTISINGRadio:Radio FM channels would be able to attract the major cream who could use our product and create a positive word of mouth for others. Since they being the regular radio good listeners would be excited to use this product as they could carry the radio with them.Apart from Ã¢â¬ËDawnÃ¢â¬â¢ the other newspaper that the product would be advertised in how are Ã¢â¬ËThe NewsÃ¢â¬â¢ and Ã¢â¬ËDaily TimesÃ¢â¬â¢.Magazines:Moby X being a technology product it would be advertised in magazines as Ã¢â¬ËSHEÃ¢â¬â¢ a leading magazine. Another magazine that is famous amongst out flat major target segment the teens is Ã¢â¬ËYoung TimesÃ¢â¬â¢. It is Dubai based magazine is especially for kids.Television:The few major channels as HUM TV and GEO TV will be given the task to advertise the product.Websites:Msn.com/Click on line a website providing information regarding new technologies, funmaza.com a famous website viewed by most of the Pakistanis and Apniisp.Action ProgramsJuly: We good will launch a sales promotion campaign in Karachi city which should be estimated at around RS. 2 Million. During this period our main aim is to make the consumers aware of the product through excessive adverts it isÃ essential for us to educate our dealers and consumers properly. Our main conscious awareness campaigns will be concentrated toward the television and internet it will fix in a relatively low and economical budget.