P’s of marketing
Product involvement: Based on product involvement criteria, it is obvious this product will be classified as a specialty product. Although this usually means that the product is expensive, this product still comes under the specialty product criteria due to its unique nature. This product will also require extensive research from the consumer, confirming and underlying Its specialty Involvement with the use of the application. Branding: Mission statement- to provide consumers with a product that allows consumers who own an Oxbow kinetic to utilize hands free convenience in a range of different non gaming aspects.
Services: we offer an application that allows consumers to replace traditional peripherals such as key bored mousse and any such wired devices, and allow content on your screen to be manipulated through the use of hand gestures and voice control. Specialize: we specialize In producing an application that utilizes the use of Oxbow kinetic camera sensor capabilities to deliver a an application with a non gaming purpose that appeals an undifferentiated market saying so, our tagging is simple: “No matter who you are, where you are, or what your doing, this piece of technology will simplify your needs in life”
Packaging: the packaging of the product will be simple yet effective. Considering the software will be placed on a CD, the packaging will be a plastic case that can hold a CD. Some form of appealing writing will be written on the front of the case. These will include Vibrant colors, that will attract consumer attention in the market place, which will further maximize product growth. Promotion Consumer decision-making Message: Those consumers will be purchasing not only a product but also the opportunity to experience the most convenience in modern technology. Objectives CREATING AWARENESS .
Magazines/articles Cooking magazines, cook books, medical magazines, new scientist magazine, and mechanic magazines. 2. Creating awareness through placing examples of the product in the following places Including shopping malls, Harvey Norman, Job hi FL, wow. Sight and sound, Be Games, Cooking Stores, Office Works, Buntings, and other hardware stores. 3. Promoting the product by placing it in other products will help achieve consumer awareness. Such as; Placing the product in cereal boxes, cooking books, mechanic hardware (Buy one product and receive ours free) 4. Radios channels .
Advertising on TV (try and target when the most amount of people are watching as we are not targeting any specific audience, all that matters is the numbers. STIMULATE DEMAND Primary demand Pioneer promotion Selective demand ENCOURAGE PRODUCT TRIAL TV Shows We shall promote our product through TV shows that sell other products. In these shows we will give the first 30 callers our product. Also for those consumers who receive the product for free along with other consumers that buy this product a 30 day trial period. Morning shows; to demonstrate the use of this new product, this ill further target an undifferentiated market.
A different type of promotional channel will be through business to business marketing Price Value based pricing The pricing approach taken would be valued based pricing. Reasons for this include that our application would focus on the benefits it offers to consumers. This will also allow ‘Customary’ to have an advantage over its competitors as we are able to charge according to the value offered to our customers. Although this approach may alienate potential customers driven by price, ‘Customary’ offers the most unique and innovated product in the current market.
This will have long-term benefits for our business as it will create awareness for future consumers. Elasticity Due to the nature of our application the pricing is not very inelastic, if the price is too high demand for our product will drop. Strategy Sustains book Fine tuning Economic conditions are forever changing, its is due to this important factor that businesses must constantly adapt to suit these changes. For this reason ‘Customary’ will offer discounts to customers, this will also increase trialing of the product. These discounts will include Buy two get one free,
Initial 20% off the application within the first three weeks, Seasonal discounts, Bulk discounts on larger orders, We will offer Free On Board (FOB), which means our business will pay for the transportation of the goods to the point of shipment. Placement Structure The channel structure that will be used to sell our application is the ‘Agent/Broker Channel’. Because the application is a new and innovative type of product on the market, brand awareness must be fairly high before wholesalers, retailers and consumers will be interested in purchasing the product.
For this reason it would be thin ‘Customized’ best interest to use agents and brokers to initially introduce the product into the market. This will maximize its chances of brand awareness and thus increase its chances of profit and sales growth. Intensity The level of intensity of the product will be selective, meaning we will be working with selected intermediaries rather than many (mass market). This is due to the product ‘Customary’ to choose the most appropriate, as well as best performing outlets to sell our application. This then allows our team to train the selected distribution outlets on our brand thus increasing focus effort.
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