Marketing an Example of the Topic Education and science by

Marketing by Expert Dr. Kaylor | 16 Dec 2016 Introduction Planning is an exercising foresight regarding the anticipated outputs of an organization in order to maximize the inputs available. If the required inputs in terms of advertising, promotion, production and personnel are beyond the firms capability then the goal should be modified to reflect available resources. Need essay sample on "Marketing" topic? We will write a custom essay sample specifically for you Proceed For our marketing plan to be effective, the following should be implanted; investigate the present situation, consider alternative causes of action, select one of the alternatives, provide both human and material resources, communicate with everyone involved so that each knows his or her particular role in the process and evaluate progress periodically in order to ensure that action is taking place according to the plan. OBJECTIVES AND MISION STATEMENT. D-Tach is a device that is used to enhance an existing OVR to enable customers to send favorite programs to their friends. The product is a chip that is clipped into the client OVR and then programmed to send programs that are recorded to other people. The major objective is to come up with a quality product that assists customers who have a DVR to add a feature that can help them to send recorded programs to friends at a small fee. This product is to be used by customers who already have a DVR and because of the partnership with (TIVO), the clients who have a TIVO-DVR will have to be directed to consumers who have an existing DVR system. This will rapidly increase the market share and profitability of both D-Tach and TIVE because of the partnership. It is also a good plan to increase the companys sales to existing TIVO clients because this will be the stepping-stone to the development of a client base in order to assist the company to introduce the product to a new market. The companys sales will also increase because of the option to buy a TIVO-DVR and then a chip is inserted or customers also have an option to but a combination (combo) of (TIVO with a chip). This feature will enable new (TIVO) customers to go for products that have an already included feature, and hence D-Tach will extend sales to all two customers, to Q409 and Q 208 new customers. The objectives of introducing this product to the market is to give customers an add-on feature that is not in other competitor products, this will increase the annual rate of return on investment of the company. The other objective is to come up with innovations on latest product features that will be used by customers that are incorporate classes and groups as well as organizations. As a company, the other objective is to increase the market base by agreeing both the management objectives and those of the product. The other objective is to solve customer need through satisfaction, this will be done by identifying those needs or creating the needs, by making customers to have that urge to use the D-Tach product, then trying to solve the needs through investments in good research and development in order to add new product features to the D-Tach product. Good compensation plan is also essential to the staff who come up with good ideas for product feature enhancement. The other objective is to come up with reliable products through product testing and ensure reliability through good warehousing and distribution. CUSTOMER TARGETS In order to identify and serve customer targets well, there is a great need to understand their needs and wants. This is how that particular product will serve the needs. Take for example D-Tach: most people will not have enough time to watch all programs and hence the need for the D-Tach chip. This will also assist those who want to buy more than one TV set because they can receive favorite programs or send them to friends through this feature. Once the customers see the need for the product they will also enhance the market for TV sets and related ideas. Therefore, the product targets those clients who watch too much TV or those areas like the USA where a greater population likes watching television. The company should come up with a product that is easy to operate so a s to make the customers more comfortable. Proper studies should be done to the market before coming up with new ideas. COMPETITOR TARGETS Competitors will try as much as possible to produce the same or similar products with features similar to the D-Tach features but are minimal. Competitors target in most cases will be the same target market as that of the D-Tach product market, this means that they will also target the USA TV watchers and will try to develop their product or add product features with the aim of taking over the target market and to deal with them, there should be the development of quality products and develop the sense of high quality image. The use of highly knowledgeable and well-trained sellers and dealers, having an excellent service network that consumers know they will get quick repair services. Customers understanding is also very important through face-to-face encounters and discussions with them. This is also possible through market research to understand how they feel about the product features added to the product and what influences their patterns of purchase and what motivate them to buy the product. Major competitors are identified and described in terms of size goals, market share, product quality, strategies and this enables us to understand their intentions and behaviors. PRODUCT SERVICE/FEATURES The D-Tach product & services are to send programs that have already been recorded to other people. These customers will have the ability to send a favorite program to their friends. This is a good service offered at a fee and will solve the customers need to communicate through signals, send good episodes of their favorite programs to friends via linkage. This is possible through the various product features that are evident in the D-Tach product. It is inclusive of a device chip that can be bought cheaply at selected stores that sell electronics after which customers will enroll in a DVR transfer club and pay a fee to transfer favorite programs. The other option is to have a TIVO-DVR that has the D-Tach feature attached to it as a combo. Perhaps the most important factor is that feature that prevents other competitors from viewing the customers selection of programs. This feature will supplement the products basic functions and it is important to note that the best way to compete is being the first to come up with new valued features. Great consideration should be given however to how many people want each feature and how long it will take to come up with each feature and whether competitors will easily cope with the feature. CORE STRATEGY Target market: - TV watchers who have that problem to deal with & that is to share their favorite programs with other subscribers hence D-Tach will enable them record their programs and send them to other people. Positioning - D-Tach is the most superior and best and most reliable device with high quality and day-to-day product development features added to enable customer satisfaction. Distribution: - The product has two options where a customer has the option of purchasing a TIVO combo or purchasing a D-Tach chip to attach to his DVR that is available at the local electronic store like (Radio shack). Service: - Quick and available services. MARKETING MIX Marketing is vital in all types of organizations and in order to be successful, there is the need to incorporate the marketing mix. The marketing mix elements are product, price, place and promotion. Our product is D-Tach and we have looked at the product features that make it stand out from its competitors. We have also looked at place. That is how the product will reach the consumers. Good strategies for products should also consider the price. Promotional mix is important in this case because good advertising, personal selling, sales promotion and publicity skills should be employed to enhance the sales for D-Tach and expand the market. This will ensure that the bundle of benefits a customer gets from a product serve the purpose for which he bought it. This will also assist the company to alert customers to be aware of the product i.e. in advertising. There are many ways of advertising. Communication that can be used on D-Tach are visual adverts- newspapers, magazines, e.t.c. other ways are audio-visual- T.V, videos and cinemas and audio where advertisers use the radio. Another very good form of promotion to use is via the internet where D-Tach products can be placed online for customers to be aware of and purchase. Good promotions aimed directly at the customers can also enhance sales just like direct mails, fliers or posters that can keep the customer updated about the product. For this case of D-Tach where the product is sold in retail, electronic stores, personal selling is essential but there is need to employ effective sales people to sell the product and explain the important product feature. PRICE The pricing of products is pided into two. One is purchase of the special devices that will be inserted in the existing DVR systems that is, fixed price per chip and on the other hand, we have the price depending on the number of shows a customer sends per month. This varies according to the usage of the service and this pricing is rather psychological because it encourages the customers to use more product because the more programs, they send the less the cost per program and those with unlimited shows per month pay still less per month and this type of pricing tends to reward loyalty of customers to the products. The price discounts are also used as promotional methods to encourage the customers to join in as groups and organizations. This is corporate pricing. REFERENCES Armstrong G. & Kotler P. (2007). Consumer Markets: Influences on consumer behavior, Principles of Marketing. ICMR Case Studies and Management Resources. (2007). Consumer Behavior. Retrieved January 20, 2008 Kotler, P. (2005) Principles of Marketing. New York.Melbourne Press Schaik J.L., (2002); The Task of Marketing Management; J.L. van Schaik (Pity) ltd Winer, R.S. (2007). Marketing Management, Prentice Hall, Upper Saddle River, NJ. Television & Health. Retrieved January 21, 2008 from http://www.csun.edu/~vceed002/health/docs/tv&health.html