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MARKETING PLAN - 'iLock'

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by

Christy Van Veen

on 7 November 2013

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Transcript of MARKETING PLAN - 'iLock'

MARKETING PLAN - 'iLock'
Step 2 - Strategic Planning
STEP 3 - Marketing Mix
Conclusion
We have presented the key 'steps' in successfully launching the new and innovative 'iLock'

Marketing plan for the soon to be released iLock into the already established security market
Target market consists of the tech savvy, early adapters, who are homeowners roughly 25 – 45 years old, who own the iPhone 5S
Promotion activities - brand website, a Facebook page and television commercials
Gain maximum consumer awareness of the product and by the end of this campaign eventually achieve 60% market share in 5 years time
Opportunity for iLock to make a substantial in the security market and gain market leadership as no brand has established prominent positioning thus far
·market summary
·target market
-security industry market
-mobile phone (IPhone 5s, iTunes store)
-software market
·market growth
keep growing in iphone sales

consumer analysis
1.geographic
-global customer base
2.demographics
-Medium to high income earners – working class and above
-IPhone user
-home owners (25 – 45 year olds)
3.behavioural factors
competitive analysis
monopolize

price

design

PRODUCT
Place
'E-tailing’ initially using a direct-to-customer distribution model
Manufactured in house but raw materials will be outsourced
Aim to open factories in the 3 top selling countries
Over time will be sold at retailers as well
Software downloaded via Apple Itunes store
Logistic factors
Price
Exploiting existing technology developed by Apple = reduced cost in R&D and production = lower price for customer
value pricing strategy to win a large number of value-conscious, cost sensitive customers
Competitors cost between $300-$400 AU
iLock will retail at est $200
Consideration need to be made for international market
Promotion
Strategically coordinated to zero in on the buzz created from the apple iPhone 5S launch
Promotional activities strongest within the first few months of release.
Promotions aim to create awareness of brand, security benefits and use with Apple iPhone
3 non-personal communication types: - Website - Facebook - Television Advertisements

SWOT Analysis
strengths
monopolize the market of fingerprint lock software on iphone store
fashion design
simple and practical
low-cost(without sacrificing quality and security, retailing at about $200)
Step 1 - Situation Analysis
weakness
limited potential user due to the market share of iphone 5S
still remains to be developing
opportunities
the increasing amount of the user of iphone
the security issue is remarkable raising
threats
the development of science and technique
Market analysis
Specialty product category
Differentiate in features, quality and design
'Steps' to a successful launch
GROUP MEMBERS: KEUNIKE MARALIT, AOKE BAI, CHRISTY VAN VEEN
Product Introduction



iPod, GPS, Calendar, Camera, Social Networking Device, Internet Browser and Passbook.
Streamline
Innovation
iPhone 5S ITunes and Bluetooth
Existing technology – low cost

Mission
Convenient
Tech Savvy
Secure
Aesthetically Pleasing
Streamlining
Marketing Goals & Objectives
Undeveloped Market – no clear leaders/little competition
Market leaders (60% share)
High, long-term growth (50%+ first 3 years)
Brand Awareness/Visibility/Reputation
Establish Distribution Channels/Relationships for the future
Break-Even within 3 years

Targeting and Segmenting
Security Market ~$35B, $9B for electronic locks by 2017 (Markets 7 Markets)
$2B for fingerprint sensors in 2013 (Frost & Sullivan)
Profile:
White collar working class & above
Homeowners 25-45 (90% of homebuyers – ABS)
Tech Savvy – Innovators/Early Adopters
iPhone 5S users
“Young Digerati” (Clarita’s PRIZM cluster) – young/trendy/affluent/highly educated/fashionable
Online - Worldwide availability: focus on digitally advanced nations

Identification of Competitive Advantage
Unique
Already developed biotechnology
Relative Cost – $200 compared to $300-$400
Sleek, Minimal and Functional Design
Streamlined/Quick Accessibility

Positioning and Branding
Blue Ocean Thinking – Making Competitors Irrelevant
Innovative Value Proposition
Position – Low Cost/Trendy Alternative
Younger population – TV, Website, Social Media- Word of Mouth
Early Adopters/Innovators
Recognizable Brand – Heavy marketing
Full transcript