Touch Screen Alarm Clock Marketing Plan

Touch Screen alarum quantify Marketing political programThe latest technological gadgets read gained immense popularity in the last few years and the nodes atomic number 18 eager to try out new crossroads and swear outs. Considering the increase demand of touch class warning signal clock as identify by Brandon (2010), our follow go a dash be introducing this product in the grocery store and pass on ensure that it successfully seemlys the requirements of any customer by charging commonsensical price for the product range.Market Research findingsSince the business environment is proper fierce and competitive, it has become lively for the companies to carry out a grocery store research before launching the product in the market (Ranjhita, 2011). With the serve well of the research, it was found that touch screen alarm clock has huge emf for the new entrants and entry barriers are relatively low (Cako, 2005). In US, any top ranked brand is offering its products b ut in that respect are some areas where mountain have limited access to these clocks.The three areas set by our lodge are Ohio, Florida and California the geographic segmentation has been do to get a clear picture of the type of customers that the company provide be targeting. From the analysis of the research findings, it is decided that the brand name exit be conduct Alarm measure and it result comprise of 2 models on the basis of features. One model pass on be naive with less features and separate will be with complicated and extremely luxuriously technical foul features. The former(a) aspects of the marketing plan are debateed below in detail.Target MarketIn order to reach the right market, it is pregnant that the target market is decided beforehand which will ensure that there will be certain number of consumers who would be willing to bargain for the product (Flink, 2011). The target market of this new touch screen Alarm quantify is as noticesGender Male an d FemaleAge 8 years and aboveIncome $30,000 and aboveLifestyle Depending on the life wheel around peak young children and adults are fun-loving, adventurous and technologically savvy. Older people i.e. 40 years and above prefer to have simple technical gadgets with easy to understand features.Occupation Depends on the life cycle stage but would mainly comprise of students, part-time or full-time apply people, professionals and housewivesPositioning StatementSince every brand is come aparted with the aim of creating classifiable image in the market, its positioning needs to be accurately through so that the customers are communicated the heart bewitchly (Ferrell Heartline, 2008). The positioning statement of stock Alarm Clock is to be the number unrivalled touch screen alarm clock with simplistic features, durable quality and advanced actalities that will allow the users to carry the gadget everywhere easily and with utmost ease. reaping offeringsInitially, there will be tw o models launched in the market to meet the demands of the touch screen alarm clock market. Every customer is feel for affordable touch screen alarm clocks, so the company will introduce two models unmatchable will be priced for economical customers and other will be priced for brand conscious and high quality product customers. The two types of product offerings with their descriptions are given belowSimple Express Alarm Clock This product will be used but for alarm setting purposes. It will be performing only this function and maximum five alarms bear be easily set in this clock. The main target for this clock is older people who are aspect for touch screen alarm clocks with easy to use features so that they stern use the gadget without difficulty. lead Express Alarm Clock This model will have all the features that the customers are looking for in such(prenominal) alarm clocks. The design of the model has been done with perfection so that the customers love its style and d esign and get attracted to the product at once. The frightening features of the clock are MP3 player, Built-in FM radio and Wi-Fi on with alarm clock setting.Pricing StrategyAs there are so many competitors in the touch screen alarm clock exertion such as Sony, Apple, Sharp, Timex, Android, Westclox and many more, it is important that the pricing strategy is selected in accordance with the competitors. As the company is new in the market, it should either follow competitive pricing or cost plus pricing (Ernst, Hoyer Rbsaamen, 2010).Both of the models will follow competitive pricing so that the customers gage easily compare the product features and all other aspects and ensure that they obtain adequate buy decision. The price of Simple Express Alarm Clock will be $10 and LED Express Alarm Clock will be $25. Simple Express Alarm Clock will be procurable in Black, Blue and Green colors and LED Express Alarm Clock will be available in Blue, Red and Black colors.Distribution Strat egyThe distribution strategy is one of the key components of the complete marketing plan as the only way to reach the target market is to choose compatible distribution locations (Sikdar VEL, 2010). The products of the company will be available in two places to ensure that every customer has easy access to them. First of all, the products will be available at the consumer shopping centers and retail stores such as Wal-Mart, Target, Costco and many more.The other distribution network that will be used is the companys website. Any customer who is looking for the touch screen alarm clock online will have to just visit our site, review dissimilar options available for them and make water final exam decision after carefully evaluating all options offered by the company. However, the distribution will be done only in Ohio, Florida and California. After success of the products, the company might expand into other regions after carefully complying the markets. procession StrategyThe pro motional strategy will ensure that the desired message is communicated to the target audience with accuracy so that the sales level can be successfully achieved (Flink, 2011). The foremost aim of the promotion strategy is to pee awareness somewhat the companys presence in the market and it will make use of complementary mediums so that the customers can develop an association with the brand.Initially, the advert mediums that will be used are Television Commercials, advertisements in newspapers and billboards along with flyers, posters and advertisements in the leading magazines. Similarly, a trade show will be organized on the commercial street so that it can gain awareness about its presence in the market. In order to be present on Internet, the stores website will be unquestionable and all info about the company will be provided on the site.As the latest trend in the market is of friendly media marketing, our company will develop a webpage on social networking sites such as Facebook, MySpace, LinkedIn and Orkut so that the customers can start talking about the products on our community page. There are various discussion forums as well where people gather and discuss about the products and services of different companies and give their viewpoints about them as well. The social media will be beneficial for our company as it will upraise our online presence and increase the sales amount at an accelerating rate (Weber, 2007).In order to attract our customers, we will offer various attractive packages such as discount packages, gifts for purchasing products of more than $100, arrange contests to distribute various prizes to the customers and give special offers to the loyal customers. We will introduce loyalty separate for our customers who will keep on purchasing new products that are launched by our company on continuous basis.The marketing efforts of the company will be reviewed monthly as the technological advancements take place on an on-going basi s and new products are introduced quickly as well. The initial book of facts of evaluation for the company will be the difference in the estimated and echt sales of the product (Ferrell Heartline, 2008). On the website, the customers will be allowed to give their feedback about the product features and the existing customers will be asked to participate in the survey of the touch screen alarm clocks.Sales and Service StrategyAs the touch screen alarm clocks will be developed with latest technology and will have new and unique features, it is vital for our company to have an effective after sales and customer service strategy. With the help of this strategy, we will have a well-trained and competent sales thrust who will ensure that each customers complaints are properly handled and they are provided flashing solutions to their problems.After selling the products to our customers, our sales representatives will call them after one month of purchasing to get their feedback about the products. With the help of this survey, we will be able to monitor the performance of our products and it will ensure that we take appropriate step in case of any problems so that the customers are projected of their worries. In order to make sure that each of our customers is satisfied with his/her purchasing decision, we will offer one year warranty card and will entertain our customers aptly so that they become our loyal customers.