MARKETING PLAN FOR A NEW COMPANY 7
4.1 Product offering
It is evident that phones are carriers of germs since they come intocontact with numerous surfaces. Whereas a phone may be privatelyowned, it cannot be argued over the contacts that a phone comesacross. These are surfaces which comprise germs and bacteria whichare capable of causing diseases. These product which is antibacterialis an extremely vital component in a phone. The phone case is notonly waterproof, but it is also antibacterial in nature. This impliesthat the phone case has the ability to inhibit the growth of bacteriaon the phone case. Therefore the phone case stays clean and germfree. Any bacteria passed from the hand to the phone case does notsurvive for a long time since the case will inhibit the growth. AppleiPhone and Samsung Galaxy are some of the most expensive andsophisticated phones. This means that when one buys a new one, thereare chances that friends and relatives will be interested in touchingand operating the phone. Such phones will not be germ free and thisphone case comes in handy to protect the owner from bacterialinfections. The phone case is also strong and tough which impliesthat the phone will also be protected from physical harm. It is clearthat the iPhone and the Samsung galaxy are extremely expensive phonesand there is no one who would want such a phone to be brokenphysically.
4.2 Keys to success
There are a number of factors that will determine the success of thewaterproof and antibacterial phone cases. It is notable that thephone cases are new phenomena and therefore numerous people who owniPhones and Samsung galaxies will be interested in purchasing thecovers. This also falls under the factor of little competition in themarket. There are extremely few companies that are manufacturingantibacterial phone cases. This will be a great advantage to thecompany and it will be one of the key factors to success. Anotherfactor that will determine the success of the company will be thecustomer base. It is abundantly clear from research that there arenumerous people across the world who indeed own i phones and Samsunggalaxies. This implies that there are will be a huge market for theproduct. Whereas there might be new entrants into the market, thebrand of the phone case will have taken root in the market. Peoplewill be concerned about their health and this will push them todemand for the antibacterial phone cases.
4.3 Critical issues
There are various strengths that the product for the new companyhas. To start with, the phone case is tough and water proof.Additionally, the phone case is an antibacterial one and it is arelatively new product in the market. Whereas there might be othercompetitors, it is evident that the product from the new company hasadditional strengths such as being tough. This is a strength that thecompany will employ in trying to beat the competitors. It isessential for the company to look for the most unique strength as atool for leveraging the SWOT strength.
The product of the new company is at the growth stage of itslifecycle. This is a stage where immense marketing is required by thecompany, as well as the creation of awareness for the product(Havaldar, 2011). All products will start at the production stagefollowed by the growth stage, before progressing to the maturitystage. Since this is a product that has just been introduced by thenew company, it is clear that it is at the growth stage. There arevarious points of parity between the product and other products. Oneof the similarities is the fact that both products use the sameantibacterial technology. Secondly, the two products are mainlyfocusing smart phone users mainly the iPhone and the Samsung galaxy.Similar products are from NueVue and BioAmror which are alsoantibacterial phone cases. However, the major point of differencebetween the products and other phone cases from other companies isthat the one for the new company is tough. In other words, the casecan resist and protect the phone from physical damage.
Every product has its own marketing objectives. The key marketingobjective is to have the biggest market share and to createsufficient awareness to make sure that the clients are aware ofproducts in the market. It is also the goal of the company withregard to the phone cases to inform the people or the potentialclients of the usefulness of the product. The marketing strategy bythe company aims at placing itself at the forefront in terms ofmarket share. This will imply that the product will generate immenseincome for the company. It is also the objective of the company tocreate a good image for the product, as well as for itself. This canbe achievement through engaging in corporate social responsibilitiessuch as clean ups and tree planting.
The product positioning in this case will rely heavily on needs ofthe clients and the advanced marketing channels that are available(Ries & Trout, 2011). The positioning will attempt to largelyfocus on informing the clients of the need they have for theantibacterial phone cases. The positioning will also utilize thenumerous communication channels such as the social media and theprint media. This is different from the current competition since theproduct has an additional feature of being tough which is essential.The positioning will also utilize social media which the othercompetitors might not be using exhaustively (Ries & Trout, 2011).The most distinguished feature is that the product is unique and thecompany is targeting the entire world as a single market.
4.6 Marketing mix
The phone case that the company is selling is new one in the market.It is a waterproof and an antibacterial case that has the ability toinhibit the growth and multiplication of bacteria on the surface ofthe phone hence keeping the phone clean and germs-free. The productis also tough which means that it is essential in protecting thephysical features in case the phone falls. The product is differentin that it is tough and it is targeting iPhone users and Samsunggalaxy phone users only. This implies that the product has a specificmarket target and will therefore focus marketing efforts to suchmarkets alone. The product has more value for being waterproof andtough besides being an antibacterial case.
The price will be determined on the basis of cost of production.Additionally, the company will also compare the price with othercompetitors in the market. The price will be relatively lower thanthat of the competitors in order to attract customers. Pricing willdetermine the profits that the company will make, as well as how easythe company will penetrate the market.
The company will use the push strategy since the product is yet togain sufficient awareness in the market. The company must push theproducts to the clients through marketing and creating awareness(Havaldar, 2011). The company will definitely use accreditedretailers and wholesalers across the world who will be selling theproduct on behalf of the company. The company will also a websitethat will double up as both promotional and transactional. Clientsfrom across the world can purchase the products online and can alsoread reviews and view advertisements regarding the product.
The objective of promotions is to create awareness of the productand to engage the clients (Yeshin, 2014). It is also viewed as asocial responsibility which has long term positive effects. Anotherobjective of promotions to create a brand name which will attractclients. The ultimate phone case that protects your phone and yourhealth. This can be the best message to market the phone case andit will be communicated through various channels such as the socialmedia, emails, text messages, television advertisements and radio.The results of the promotions can be evaluated through reviews andfeedback from the clients. Employees at the company can also be usedto give reviews regarding the promotions. Changes in sales revenuefor the product can be used as an evaluation tool for the promotionprocess (Westwood, 2013).
4.7 Marketing research
It is essential to have a marketing research as this will providevital information regarding the market (Havaldar, 2011). This willenable the company to come up with a marketing strategy that will fitinto the market status. The research will target the clients’feedback regarding the product. The research will be conducted in afew countries. This will be original research and it will largelydepend on first-hand information from the clients (Bradley, 2012). Itis essential to have the research as an ongoing process duringmarketing so that improvements can be made along the way. This willensure that the clients are being provided with the specific productneeds.
Ries, A., & Trout, J. (2011). Positioning: The battle foryour mind. Oxford University press. New York.
Yeshin, T. (2014). Sales promotion. London: ThomsonLearning.
Havaldar, K. K. (2011). Industrial marketing: Text and cases.New Delhi: Tata McGraw-Hill.
Bradley, N. (2012). Marketing research: Tools &techniques. Oxford: Oxford Univ. Press.
Westwood, J. (2013). How to write a marketing plan.London: Kogan Page.