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Techno Boho

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by

nathan Hunt

on 7 May 2014

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Transcript of Techno Boho

Techno Boho
Responses to tribes needs
Place
Product
Alphafresh is an innovative lightweight MDF-equipped 10inch subwoofer enclosed within a waterproof backpack. It provides high quality and powerful sounds from caribee speakers.
Price
The price will be determined by using the
Customer value-based

strategy. The price of
AlphaFresh will be set at:
-
$179AUD wholesale
-
$249AUD estimated retail price.

Company Background




Caribee is one of Australia's most well-known and leading travel and outdoor brands. We are successful because we offer the latest in
design and quality practical products.









Micro-environment
The Micro-environment refers to challenges that arise internally within a business which has the potential to hinder the future relationships between the business and consumer
Macro-environment
"Macro-environment refers to challenges that are external and uncontrollable which may hinder the relationship between the business and its consumers.


Competitors
Introduction
- Techno Boho analysis
- AlphaFresh
-Micro & Macro-environment
- Swot analysis
- Competition
- Customer-Driven Marketing Strategy
- Marketing Strategy
- Product
- Price
-Place
-Promotion
- Responses to tribes needs
- Concluding statements
Who are Techno Boho's?
Characteristics:
- Age: 18-25 (Gen Y)
- Occupation: part time employees/students
-none to low income
- Well educated, majority in university
- Regular users of social media such as facebook, instagram, twitter and instagram
- Technology is deeply integrated in day to day life

Lifestyle:
- Always on the look out for modern technology
-Appreciation of modern technology with importance of art through technological and social applications
-constant struggle to out-do one another
- Make music, film and visual arts
-Emerging creative professionals
-Found in areas such as Newtown and Potts Point.
Promotion
Marketing Enterprise team
Indirect competition
Direct Competition

- Indirect competition refers to a company
that satisfies the same consumer needs via
different types of products.

Product features:
- 60W total output power (supplied by usb rechargeable lithium polymer battery)
- Compatatible with most sound devies i.e. smartphones, mp3 players
- Product measurements: 51x41x30cm
- Fits standard 15.6inch laptops
Customer Driven Marketing Strategy
Peter Le: 17232757
Anh Hai Ngugen: 17232773
Shaun Stanic-Bukureshliev: 18025848
Tom Greeley: 18043088
Nathan Hunt: 18002821
References


Armstrong G, Adam S, Denize S, Kotler P, 2012, Principles of Marketing, 5 ed

Molitorisz S, 2010, 'Tribes of Sydney', The Sydney Morning Herald, 7 January 2013, n.p.

Caribee | Backpacks, Travel and Outdoor Products. 2014. Caribee | Backpacks, Travel and Outdoor Products. [ONLINE] Available at: http://www.caribee.com/#!history/c1dl5.

Images:
.2014. (Online) <http:/s965.photobucket.com/user/sweetsuzy19/mediaPuma_Logo20copy-1.jpg.html>
.2014. (Online) <http://www.sfu.ca/CSB-SCB2012/trim/s/uploadFile/Bose_Better_Products_C84M71Y36K21.jpg>
.2014. (Online) <http://www.brandsoftheworld.com/sites/default/files/styles/logo-thumbnail/public/032012/beats_logo.jpg>
.2014. (Online) <http://cf.juggle-images.com/matte/white/280x280/nike-6-logo-primary.jpg>
.2014. (Online) <http://www.fashionablyours.net/wp-content/uploads/2012/02/adidas-Originals-Logo.jpg>
.2014. (Online) <http://www.bitrebels.com/wp-content/uploads/2013/01/speaker-backpack-boompack-gadget-3.jpg>



The marketing strategy we will use is
customer focused
which will allow us to maintain and expand our customer base.
We will achieve this through delivering superior value with the introduction of our innovative product.

We achieve this via STP
Segmentation:
Our company primarily segments the market through the use of
psychographic segmentation
where we take into account the buyer;s socioeconomic status, lifestyle and personality characteristics.

Socioeconomic status: Little or no income which includes students who are currently still studying or beginning to look for work.

Lifestyle: Basic needs, retro and open minded

Personality characteristics: ambitious young individuals.
Targeting:
Now we can evaluate and select our target market. The techno boho will be targeted as a
local market.

The Alphafresh suits this market specifically because the majority of our consumers are from university or an educational background. This in turn will trigger the needs for convenience and generated greater customer value.
Positioning and Differentiation:
Using
product differentiation
, Alphafresh wil be positioned as the 'all in one carry'

This will position the bag as the most convince, chill, absolute bag with exceptional entertainment quality for everyday use.

Customers will choose the Alphafresh over that of Caribee's competitors because it will deliver innovation and quality.
Placement:
Due to their environmental grounding, many techno boho's are sharing the same bars, cafe's and parks, hence allowing one another to share the music system
Price:
Due to the parts being high grade, price is high, but still in reasonable range

Product:
Since they are technologically literate, most will see the value and benefits in the fine assembly and quality put into the product.
Promotion:
Regular promotion around Sydney's CBD and areas such as Potts Point and Newtown, various deals and discounts will be available to customers.
Swot analysis
Weaknesses :
- Consumers lack of money will prove hard for a reasonable price to be set to match production costs.
Opportunities:
- Their is the possibility to expand our product into different markets
- being able to deliver high end and
lower priced products.
Threats:
- Competitors pose a great threat due to the constant development of products.
Technological: Technological factors may damage our products success due to technology evolving and consumers wanting access to the newest features.


Economic: Due to the 'techno boho's not having a great deal of wealth this will influence the success of our product due to lack of spending patterns.
Strengths:
- A strength is the universal
features our product offers
being able to be used by multiple
demographic groups.
- Functionality: not only being a
ound system but a bag also.
Suppliers: This factor has the potential to influence our product because we must find a supplier who is affordable but also provides a high quality product for our consumers.

Competitors: This factor will influence our product because their will always be rivalry where emulation of each others product will occur and then improvements will follow.
Direct competition refers to where a
company provides similar or
identical products to satisfy
the same consumer needs.

Alphafresh "All in one carry"

This makes our product:
-Attractive to a large number of consumers
- Affordable price for the techno Bohos.
Theses prices reflect a strategy of (1) establishing a solid market share, and (2) to maximising the efficiency of production and distribution costs.
We may also further increase the growth of sales by introdcing the
optional-product pricing
where techno bohos may choose to customize the colours of the AlphaFresh bag for an extra $20AUD and customize the design of the bag for an extra $30 AUD.
Our channel strategy is to use
selective distribution
, marketing AlphaFresh bags will be sold through well-known stores such as Office Works and Big W. This in turn will reduce distribution costs and maintain control over the way in which our product is sold and discourages price competition.
By promoting our product through
advertising
the message of "all in one carry" to the bohemians, AlphaFresh will seek to reinforce the brand image of convenience and innovation. Consistent advertising will be placed to maintain brand awareness and communicate various differentiation messages. The use of
public relations campaign
would further build Alphafresh's brand to make it seem more genuine.
10 inch sub woofer
waterproof
Bag measurements:
51x41x30cm
lightweight material
Concluding Statements
In conclusion, the techno boho's needs should be greatly considered along with other stereotypes as they provide a great market. Our product meets the characteristics and needs of the techno boho stereotype and provides many positive aspects within the market. In conjunction with market research and analysis, we believe that our product will be a successful venture which will lead to opportunities to expand.
Parramatta campus
Wednesday 12pm
Behavioural Influences
Social: A consumer's behaviour is influenced by social factors such as consumer's small groups, family, and social roles and status.
The techno boho often gather and hang in groups and are usually trend setters, they tend not to follow other social groups. They seek comfort rather then luxury goods.

Cultural: Cultural factors influence the persons basic wants and behaviour via factors such as culture, cultural groups and social class.
The cultural factors of techno boho are shaped through how they are brought up within a developed economy where music, films and visual arts plays a key role towards techno boho’s behaviour.

Psychological: A persons buying choices are influenced by four main factors which are motivation, perception, learning and beliefs and attitudes. The psychological factors of the techno boho's are shaped through their need to shape trends but not follow, and also the need to have the latest technology.

Personal: A buyer's decisions also influence behaviour via factors such as buyer's age and life cycle stage, occupation, education, economic situation and self-concept. The techno boho are not quite wealthy and enjoy a free lifestyle such as drinking coffee, alcohol and smoking cigarettes.
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