All Eyes On You Secretively-Spy Camera Marketing Strategy
Marketing Plan for All Eyes on You Secretively - Spy Cameras
MM522 Marketing Management
Table of Contents
1.0 Executive Summary 1
2.0 Situation Analysis 1
2.1 Market Summary 2
2.2 Swot analysis 3
2.3 Competition 5
2.4 Product (Service) Offering 6
2.5 Keys to Success 7
2.6 Critical Issues 8
3.0 Marketing strategy 9
3.1 Mission 10
3.2 Marketing Objectives 10
3.3 Financial Objectives 11
3.4 Target Markets 14
3.5 Positioning 15
3.6 Strategies 16
3.7 Marketing Mix 16
3.8 Marketing Research 21
4.0 Controls 21
4.1 Implementation 22
4.2 Marketing Organization 22
4.3 Contingency Planning 23
5.0 Conclusion 24
References 25
1.0 Executive Summary
All Eyes On You Secretively (all eyes) is a wireless monitoring camera …show more content…
initially targeting parents and caregivers requiring assistance of nannies, home-health aides, or baby-sitters to take care of loved ones while away from home. All Eyes, will be the household ultimate brand of all time, and the synonym for “protector”, much like the Hoover company name is a noun, meaning a carpet cleaner and with a verb to the company 's name, as in "hovering a carpet ".
As a new brand offering, it will be pitched with "brand building" criteria for creating brand elements in focus. All Eyes will be simple, easily recognized, and a necessity that will make people wonder how past generations survived without it. All other web cams, and camera monitoring devices will pale in comparison to All Eyes which will secure lives and protect loved ones left in trusted care and become the survival tool of the modern age. Much like Apple started in a garage, All Eyes, is from the humble beginnings of a great idea from a few graduate students, currently with limited resources, but with the heart and perseverance of Steve Jobs, to build a memorable, meaningful and likeable survival tool for this generation.
With a launch from New York City, All Eyes will quickly generate enough to allow re-investment of profits to facilitate targeting the rest of the US, Asia and Africa, and to become the “protector” giant in the security electronics market. 2.0 Situation Analysis
All Eyes on You Secretively faces a tough competitive market. The competitors have a broader targeting map and also more categories of products. All Eyes on You Secretively is only selling spy cameras for the home to a certain type of customer. The macro environment factors needed to be considered are demographic, geographic and product knowledge and customization to fit the customer’s needs.
All Eyes on You Secretively’s capabilities will be in being able to help the customer customize any object in the home for security. A personal touch will be offered to serving each customer’s needs, while knowing that there is a need and a market of single mothers and families that share the same or similar living arrangements, and have the responsibility for taking care of children and elderly parents, but need the assistance of someone else when away from home.
2.1 Market Summary
The hidden camera All Eyes on You Secretively abbreviated to All Eyes will primarily target mothers with young children who may be re-entering the workforce, or young mothers who may hire baby-sitters to watch children when they are absent. The intention is to combine and expand the market to include caregivers of the elderly. With the baby-boomer generation retiring decisions are being made on the option of staying at home or being put in a nursing home, making an elderly care target a viable market that will rapidly increase, with an increasing high percentage of elderly people needing care. Combined with the rampant increase in elderly-abuse, a high percentage of professionals with old parents or with young children, health care workers, corporate users and regular people have the need for the security and comfort of being able to check up on loved ones who are put in someone else’s care.
While security cameras that are placed around prominently on the perimeters of businesses can serve as a deterrent, there is a limitation of being obvious to a potential criminal, and allow avoidance of the coverage area of the camera. All Eyes, however, has the distinctive advantage of being able to be camouflaged into any fixture, and an added value of being mobile. All Eyes, therefore, is not limited to securing a fixed area because it could even be placed in a favorite toy and taken to the playground. All Eyes will revolutionize the security and surveillance industry and offer the option of either taping data for later viewing, or for real-time on-demand viewing. With the All Eyes promise of constant monitoring of loved ones – from young to old - babies to the elderly, with less intrusive care and attention, the target market potentially provides endless customers from individual care givers to businesses in health-care.
2.2 Swot analysis
This analysis will identify the internal factors and determine external factors of the business. It will also enable the company to stay on track with its mission statement by looking for opportunities to growth as long as weaknesses are minimized.
Strengths
* Good customer relationship management
The management of customer relations represents the biggest achievement as it allows for the retention of existing customers while attracting new ones. Employees will be well trained and have the capacity to resolve any difficulties that customers may face while in the office. * Excellent quality of products and admirable services
As a security camera company, the main purpose will be providing a solution to allay customers’ anxiety with the use of All Eyes. The services offered to clients could amount to 60% of revenues, which is the reason why customers will be loyal. * Innovative product
Software, developed by the company for apple and android phone users enables all day connectivity and accessibility to the place where the camera has been installed. This provides possibilities of while being anywhere that a client needs to be, and at the same time provide access to enable a check-on and monitoring of all movements in the house.
Weakness
* Not a well-known brand
As a new company, it is burdensome to have a large market share in that industry. This limits the ability to have a well-known brand that meets the benchmark fixed by the leading company. The limited recognition of the brand name has driven the advertising team to engage in active commercial communication to attract more customers. * Limited application of the products
The products function only with the wireless system and are able to record activities up to 2000ft away from the camera position, which compared to our competitor’s products offer more capabilities but cannot work using the wireless system.
Opportunity
* Facility to improve our products
New security system and products come into the market place on a regular basis, which help us to improve our software application for apple and android phone users. * Research and development
The development of the technology is beneficial for the company because customers could use either wireless or 4G technology to check in on their home anytime required and have added security from regular security camera system updated monthly.
Investments will continue in the research of new markets in order to expand product and service targets, thereby increasing the list of target customers.
Threat
* New entrant in the industry
Our threat represents the new company entering that industry. Those new entrants come in with new ways and ideas to install and use the security camera. * Speed of the technology
The fast advancement in the technology is a challenge since the company needs to continuously think and act ahead of the new entrants while investing in new ways to improve software and installation systems.
2.3 Competition Today’s world not really private, and there is always invariably someone monitoring a security camera in all sorts of places. It is clear, that, there is a large market for security cameras either in the office, home, on the streets, or public transportation.
The competition is high and each company that sells these products wants to gain customers’ trust by providing a variety of ways to hide a camera into an object. The competition is well-established and popular companies that already exist within the market. The companies are Supercircuits, Palmvid, and Brickhouse Security. These competitors are selling high tech security solutions to customers; ranging from hidden cameras, counter surveillance, phone surveillance and security cameras.
The competition’s market positioning is to help customers protect themselves, families, businesses, and law enforcement. The competition provides safety and secures products, with the main common attribute of spy cameras placed in homes. Cameras are inserted into clocks, DVR’s, smoke alarms, and thermostats, etc. These products can offer voice recording and night vision or low light, and the companies offer Wi-Fi, wired, and, wireless cameras.
In comparison, Supercircuits doesn’t have the variety of objects to hide a camera in, but offer customized solutions that work for the customer. Brickhouse Security has a wider range of products to hide security cameras than Supercircuits, and goes as far as putting cameras into tissue boxes, a vanity mirror, teddy bear nanny cams, exit signs and plants. Palmvid has about the same range of products as Brickhouse security, but Palmvid uses a better strategy of showing the range of products available by separating the products into categories such as, wired hidden cameras, Wi-Fi hidden cameras, wireless hidden cameras, and DVR hidden cameras. However, Palmvid does not offer customized solutions like Supercircuits and Brickhouse security does.
All Eyes on You Secretively wants to offer customized high tech solutions for the home only to families and single mothers. This is to protect children and also elderly parents that live with the targeted customers. The customer with young children may have a nanny and wants to monitor what goes on at home or wherever possible outside the home – during the day while at work, and or even at night when children are in someone else’s care. Another use is for monitoring the elderly left in the care of a home attendant where there’s a need to monitor for the feeling of security just in case. This is especially necessary with elderly abuse on the rise – making it imperative that nothing goes wrong with the level of care and there’s a satisfaction from feeling the peace of mind from protecting of loved ones. Another use could be just securing the home to diminish the worry of leaving it unprotected.
2.4 Product (Service) Offering Although it is very common these days, to see security cameras in homes being used for different purposes, some people, especially parents, would like to have security camera installed in the house which is hidden and which cannot be recognized by the babysitter. At this point All Eyes on You Secretively has a great idea to provide the service for parents. All Eyes on You Secretively installs security cameras in the toys and some objects in the house which are hard to recognize – items like a toy car, wall clock, a doll etc.
The company installs cameras in different items all around the house. All the cameras are hidden and connected to a system which can be observed by parents. All actions will be recorded on tape recorders. A wireless component is included in the system which means parents can watch the house and children live and remotely. For this service All Eyes on You Secretively has developed an application for Apple and Android phones. Basically the security camera system will connect to parents’ phones using wireless and 4G technology at the same time.
Since the equipment will be working 24 hours, and some technical problems might occur, there will be 24/7 IT service. To avoid these problems IT service will be ready to solve the issue.
First of all the feature of the service is fulfilling a purpose of being a hidden camera that no one knows about, besides the parents. Therefore the advantage of the service is pretty much making the parents comfortable to leave children with a babysitter. The benefit of the security camera is not just to keep an eye on the baby; it also watches the babysitter and monitors whatever activities occur in the house. The product will offer proof for any blame and in addition provide the customer with an insight into just knowing all the secrets in the house.
2.5 Keys to Success
There are several factors that will result with having this product, All Eyes to be successful.
Keys to success will be listed as follows: 1. Spreading by word of mouth, to targeted customers of care givers from people and to businesses, and from the health-care industry. 2. Using online tools, such as: postings to social media sites (Facebook, Twitter), and creating blogs, will include a traceable hyperlink that will allow us to know how many people clicked on each post; and to know how many are concerned with this dilemma. 3. General public needs to be aware of the clear, unique mission statement of the All Eyes products and its’ brand name that will become a long term patent. 4. Establishing strategic networking with various entities, such as: event promoters, business owners, and stockholders will help boost the All Eyes product even more. 5. Investing in Research and Development for All Eyes products’ future plan will allow improvement and innovation spanning the product’s lifecycle to further enhance the company’s growth and sustainability. 6. A nice thoughtful phone number like 1-800-ALLEYES will be remembered by everyone.
2.6 Critical Issues
Products will be delivered to customers via retail shops and the internet. All Eyes can be purchased at company retail stores or on the internet, which gives customers options to actually see the product before purchase, or to place orders from home at their convenience. The online retail shop will also serve the needs of customers located far from the physical retail store.
Customers will seek out All Eyes cameras in order to secure a sense of security through high quality products. It is very important that customers are able to shop with confidence; requiring an assurance that products purchased are high quality, and from a legitimate company. In order to achieve this, there will be a physical retail store. Even though the physical retail store will not be covering all customers, it is important to have an actual site where the actual products can be seen and touched. It should also be mentioned that retail staff will be trained to be able to answer questions, as well as provide advice on which products suit which needs.
The significance of having an actual store cannot be stressed more. However, as it was mentioned previously, an actual retail store will not be able to accommodate all customers, which makes the virtual retail store also an important distribution method. The virtual retail store will address two main issues that cannot be addressed with the physical retail store, which are convenience and catering to customers who are unable to visit our store. The virtual store enables customers to place orders 24/7, at the convenience of their home. Also, customers who do not reside in the proximity of the physical store are able to purchase the products from a virtual store. The virtual store will also be a very big part of technical support service, by allowing customers to contact the company through emails and live chat. While a high importance is placed on face-to-face communication with customers, the internet store will provide experiences that are close to it.
3.0 Marketing strategy
All research shows that parents are very concerned about their kids. At this point, All Eyes on You Secretively is willing to reduce this concern and make parents more comfortable. The product and service which is offered by All Eyes on You Secretively is not common and easy to find in the security cameras market. Therefore providing a product that works properly is the first goal of the company. All Eyes will use high quality materials and a 24/7 communication service with parents to provide a comfortable feeling to its customers. The advertising strategy will build on this purpose. High quality and efficient service advertising will be used to build a sustainable business in the market. Baby magazines and websites are effective ways to reach the target. The company will focus on these media tools, because parents are more likely subscribe to these magazines. In addition some television shows which are about kids can be used to advertise the product and service. However, the customers will be the most important advertisement by recommending All Eyes as the best product and service through mouth-to-mouth promotions. 3.1 Mission
The mission of All Eyes on You Secretively is providing hidden cameras for parents to watch their kids, making sure the equipment works properly. Obviously there is a need for parents to leave their children with babysitters, even if only occasionally. The company is eligible to meet these needs and make the parents satisfied by installing the hidden security cameras all around the house. The customers are parents who are working and have kids. All Eyes on You Secretively creates an opportunity for parents, while they are not with their kids, to watch over children at any desired time. In addition no one will know about these cameras besides the parents. Another value will be that the parents can install an application on their smart phone which is connected to the security system and enable them to monitor from all over. 3.2 Marketing Objectives
Marketing objectives could be defined as the set of goals by the company in the purpose of firstly satisfying and maintaining customers while attracting new ones, secondly promoting new features of the existing products or new products and thirdly framing short and long term goal to be achieved in a given time frame.
All Eyes on You Secretively will focus on the following goals to meet marketing objectives: * The complete satisfaction of the customers
* Analyzing and giving satisfactory feedback to the customers ‘ complaints
* Promoting All Eyes on You Secretively products quarterly to attract more customers
* Increase the sale to a minimum of 5% quarterly
* Innovation and diversification represents the only key to access more market share
* Two years after launching the company, market research will be done in order to expand in the emerging market such as Asia, Latin America, and the Middle East
* Within 5 years, All Eyes will be amongst the leading companies in the industry
* Entertain and maintain good relationship with customers as well as with the company’s partner
3.3 Financial Objectives
The All Eyes product is first and foremost aimed at providing security and comfort for loved ones and their caretakers; providing a sense of satisfaction and assurance of having chosen the right way to deliver on family obligations and responsibilities of keeping loved ones safe.
The business venture, to support this product has to be sustainable and reliably available to groom and retain a loyal customer base stretching down generations, where All Eyes will be the recognized synonym for “protector”. The product and service that goes along with providing this assurance has to itself remain readily available. Keeping All Eyes viable and profitable will provide the financial flexibility adapt readily with changing times and new technologies.
All Eyes will be launched in North America, to provide a predictably safe staging platform, then, be followed by expansion with the “broadband boom” trend expected in “the emerging regions of Asia, Latin America, and the Middle East”, All Eyes will later be piloted through Latin America, Asia and eventually to Africa.
Initially income yields will begin only in the third quarter of the launch. Promotional giveaways- initially to corporate health care centers to introduce and demonstrate the product’s potential – will be made by installing and maintaining about 500 samples, as an introductory promotional phase in the 3rd and 4th quarter of 2012. From 2013, sales target will be 200 units to subscribers who will get the product – hardware – installed free but subscribe to the All-Eyes service component. Actual full sales will begin after the first quarter of 2013, targeting sales of 550 units through a market skimming strategy with prices at $1,200 per unit with an additional $10 monthly subscription for the service. Prices will be dropped to attract a larger segment and increase sales income on a scheduled time frame.
North America Sales Forecasts Period | Units to be sold | price per unit | Subscription Income | Sales Income | Total Income | 3Q 2012 | 200 | - | - | - | - | 4Q 2012 | 300 | - | - | - | - | 1Q 2013 | 200 | - | 6,000 | - | 6,000 | 2Q 2013 | 550 | 1,200 | 22,500 | 660,000 | 682,500 | 3Q 2013 | 700 | 1,000 | 43,500 | 700,000 | 743,500 | 4Q 2013 | 1,000 | 899 | 73,500 | 899,000 | 972,500 | 1Q 2014 | 1,200 | 799 | 109,500 | 958,800 | 1,068,300 | 2Q 2014 | 1,500 | 549 | 154,500 | 823,500 | 978,000 | 3Q 2014 | 1,800 | 449 | 208,500 | 808,200 | 1,016,500 | 4Q 2014 | 2,000 | 400 | 268,500 | 800,000 | 1,068,500 | 1Q 2015 | 2,000 | 400 | 328,500 | 800,000 | 1,128,500 | 2Q 2015 | 700 | 300 | 349,500 | 210,000 | 559,500 | 3Q 2015 | 200 | 300 | 355,500 | 60,000 | 415,500 | 4Q 2015 | 200 | 300 | 361,500 | 60,000 | 421,500 | | | | | | 9,160,000 |
The plan is a decreasing trend in new sales with emphasis shifting to customer retention, by building and maintaining a subscription-income base as the sustainable direction of the All-Eyes brand shown in the following graph, showing increased use of the subscription service. All-Eyes’ will focus on retaining and servicing a growing customer-base, with new sales of the product expected to level-off and subscription income from a loyal customer base increased.
Profit targets are a million dollars net by end year four, most of which will be reinvested into extending the product through-out the United States, then globally. A Market plan will be presented by year 3 of operations for extending globally into Asia, Latin America and Africa.
It is expected that All Eyes hardware will initially cost the company $250 per unit to produce, falling to $150 per unit precisely at the 3rd quarter of 2013, in its second year. Additionally, an initial product promotional and marketing cost of $50,000 is slated for six months into the launch of All Eyes, to be reduced as the brand is able to sell itself from the good customer relationship management that will be practiced. Hence the market skimming approach to recover as much costs as possible from sales starting in April 2013.
North America Income/ Profit Forecasts Period | Units to be sold | Fixed Expenses | Cost of Goods Sold | Sales Personnel | Promo-tional | Net Income (Loss) | 3rd Q 2012 | 200 | 235,500 | 50,000 | 84,000 | 25,000 | (394,500) …show more content…
| 4th Q 2012 | 300 | 235,500 | 75,000 | 84,000 | 25,000 | (419,500) | 1st Q 2013 | 200 | 235,500 | 50,000 | 12,000 | 1,000 | (219,375) | 2nd Q 2013 | 550 | 235,500 | 137,500 | 78,000 | 1,000 | 172,875 | 3rd Q 2013 | 700 | 235,500 | 175,000 | 82,000 | 1,000 | 187,500 | 4th Q 2013 | 1,000 | 235,500 | 250,000 | 101,900 | 1,000 | 288,075 | 1st Q 2014 | 1,200 | 235,500 | 300,000 | 107,880 | 1,000 | 329,190 | 2nd Q 2014 | 1,500 | 235,500 | 275,000 | 94,350 | 1,000 | 290,363 | 3rd Q 2014 | 1,800 | 235,500 | 270,000 | 92,820 | 1,000 | 324,285 | 4th Q 2014 | 2,000 | 235,500 | 300,000 | 92,000 | 1,000 | 341,250 | 1st Q 2015 | 2,000 | 235,500 | 300,000 | 92,000 | 1,000 | 386,250 | 2nd Q 2015 | 700 | 235,500 | 105,000 | 33,000 | - | 150,750 | 3rd Q 2015 | 200 | 235,500 | 30,000 | 18,000 | - | 141,000 | 4th Q 2015 | 200 | 235,500 | 30,000 | 18,000 | - | 138,000 | | | | | | | 1,176,163 |
The profit forecasts are based on the following Fixed, mostly Personnel costs expected: CEO | 220,000 | CFO and Marketing Mgr $150,000ea | 300,000 | A Product & A Service Manager @$80,000 | 160,000 | 5 Admin/Sales/Finance Support | 250,000 | Rental Premises | 12,000 | | Annually | 942,000 divided by 4 for $235,000 quarterly |
Earnings will eventually translate into profits by April 2013, which will eventually level out and remain constant and maintained at around $150,000 after tax by January 2015. 3.4 Target Markets
Defining the target market will allow the company to adapt the products based on the characteristic and requirement of each market, will expand our market share in the industry and increasing our revenues and shareholders values.
The products and services offered by All Eyes on You Secretively is advantageous to everybody, from children to grandparents. Therefore, All Eyes plans to target three market areas:
First target market
Parents with toddler or kids who leave a nanny or babysitter to care for the children would want to know in all the possible details the moves of that nanny and his or her kids while the parents were absent or could be watching through our wireless system from wherever the parents would be located. By using our product, the parents will be there without having to be physically there.
Second target market
The elderly people who need to be watch by caregivers. Sometimes, those caregivers take the liberty of acting improperly with their patients. In the favor of controlling their attitude with the elderly people, the company solution was to install a hidden camera in the house so that any unclear attitude with the patient would be seen and the caregivers could be held liable with proof.
Thirdly target market
This market is reserved to the consumers who need the camera for diverse purposes. It could be to watch a husband or wife moves while one of the spouses is suspecting the other of conducting of secret activities. It could also be a suspicious friend or a roommate act in order to have proof of the suspected activities or attitudes pending on the other person.
The third target market is for specific type of consumer to whom the company product or services will favor them for a short period. Those consumers could turn out to be customers and could also advertise on the usefulness of the company products and services.
To conclude, the All Eyes on You Secretively product and service works as a secret agent on behalf of customers or consumers regarding any clarification needed. Although parents with children that need caretakers are the first targets, the offer will remain open to any consumer who finds a solution using All Eyes on You Secretively. 3.5 Positioning
According to Kotler & Keller, Positioning is defined as “the fundamental key for the marketer to put the image in customers‘ mind” (p. 269). It is very important to implant an instant image of the All Eyes product into prospective customers’ mind. The security that the All Eyes product has provided is positioned to reflect the benefits to conscientious parents who are apprehensive about leaving their children around with “unsecured” babysitters or caregivers. This product will comfort and allay the fears in a parent’s mind about their child’s safety. For example, most parents tend not to fully believe everything children try to tell them about a babysitter’s behavior especially when nanny’s behave impeccable when the parents are around. Parents would be thrilled to have All Eyes to provide an assurance of security and safety. Also, parents can confirm the truth of what children say, ensuring the place of children as any family’s number one priority.
The product is positioned to provide free service for one month try-out. After that, All Eyes has an affordable flexible price that allows parents to be able to feel satisfied. It is an opportunity for parents to grab this because parents are promised not just this product, but also long-lasting product, unique service, and a lifetime warranty.
Therefore, the product All Eyes that provides so much potential benefits and services is positioned based on circumstances that exceed the expectation and the satisfaction of the parents. 3.6 Strategies The strategy for All Eyes on You Secretively will attract a different type of customer base. This will bring an advantage over its competitors and increase business. This company’s mission is to customize their products to the customer’s needs and wants for a reasonable price. All Eyes on You Secretively plan is to portray a more personal effect on their customers, when it comes to families, single mothers, couples, roommates and taking care of elderly parent(s). This will ensure that the company is ambitious towards creating strong relationships with customers. Making sure their employees also creates and maintained these relationships. 3.7 Marketing Mix
There is a market for All Eyes to protect children of all ages, and the main target is to keep loved ones who do not have a voice, and are usually not ready to or unable to verbalize or report abuse. 3.7.1 Price
All Eyes will be priced at $1,200 a unit, initially aimed at high-end professionals intent on re-entering the work-force very quickly and who can afford to buy a little peace of mind, and assurance that, when desperately looking for solutions and assurances, their chosen child-care options are going to be the best option, and can be monitored so they do not have to lose out of the child care process or imagine all the horrible things they are exposing their children to in order to pursue their professions. This market skimming technique will recover the promotional costs, and serve as advertising and launching of All Eyes as a value-for-money alternative measuring how much caretakers are willing to spend to protect and keep loved ones safe.
Prices will be gradually lowered to pull-in and include a wider customer base in order to maintain the sustainability of the product with wider usage. Eventually, the price will be leveled-off at around $400 a unit plus a $10 monthly subscription. 3.7.2 Product and Service component
All Eyes will be packaged as an all-seeing remote monitoring device with a service component of a live-feed of events or routine moments in life. The selling point will be the service attached to this viable protection device that also keeps parents or caregivers easy access and opportunity to share in a loved-one’s daily achievements and experiences to create memories and shared moments even when it is not possible to be near all the time. 3.7.3 Place
Target Market
According to the data retrieved from the US Census Bureau website, for the 2010 Census, out of the New York State population of 19 million, there are 6% under 5years old, estimated at 1.16 million and another 2% between 80 to 84 years old, and 2% above 85 years old – making up a senior citizen sample of about 0.8 million people. The roll-out of All Eyes will commence in July 2012, and has been narrowed down to launch from New York City as the initial target of families with children under the care of a babysitter or other child care services. Mount Sinai Hospital | NYU Hospitals Center | Lenox Hill Hospital | Beth Israel Medical Center/Petries Campus | NY Presby - Columbia Presbyterian Center | Total | 6,212 | 4,582 | 3,657 | 3,733 | 4,538 | 22,722 |
On the New York State Department of Health website, there were 22,722 births in 2009 in 5 targeted sample city hospitals under consideration as potential market sampling of Maternity and Peri-natal units from selected New York hospitals:
Product Sale/Distribution
Sales will be web-based for the product, with the option of either using a monitoring gadget, or downloading the tracking or monitoring application on to other devices already in use – on to phones or laptops or on TV monitors and any other device that can stream live data. 3.7.4 Promotion – Integrated Marketing Communication
July 2012:
Information Booths and Seminars
Information booths and seminars will be organized at the various health technology fairs, at public and private school fairs, as well as in targeted hospitals and various sponsored walks around the city that promote various health causes, for example the AIDS and the cancer walks. The aim is to engage with health care providers, parents and potential parents on the All Eyes technology. The booths and short seminars will create awareness of the service and product across all sectors, from technology aficionados to the technology challenged parents or caregivers in New York and demonstrate the capabilities of All Eyes.
TV and related Web-based TV advertisements
Very short, 1-minute adverts, with a running storyline will be release on PBS and Channel 13, to air 5 times a day, starting in July, where the story builds up and continues to eventually expose the All Eyes device as what allowed parents to be able to know about all the important moments of their child’s life at home, while away and not in physical contact. This advert set is expected to run through the months of August and September as well.
Promotions and Sponsorship
August to September 2012: Sponsorship of maternity, childbirth and parenting classes will be launched in four pilot Maternity Clinics, as a targeted and focused launch option because of the added benefit these selected hospitals offer as teaching hospitals and so are more open to technology in the promotion of safety sustainable protective devices.
NYU Langone
Beth Israel Medical Center/Petries Campus
NY Presbyterian Hospital Columbia Presbyterian Center
Mount Sinai Hospital
Each of the five target hospital will be offered 50 units each installed in all sorts of places inside the nurseries and used a classroom research instrument to teach nursing students, and resident doctors about behavior of babies and nursery staff response times etc.
September 2012: Lenox Hill Hospital, will be included in the pilot group and offered 50 All Eyes units. Meanwhile, a selection of a sample focus group of expectant mothers will be recruited through product demonstration sessions included in child-birthing classes organized by each hospital. The selected groups will be exposed to the All Eyes monitoring devices and offered free devices to use while on admission, with the option to take home on discharge. Follow-up personnel will install and train on monitoring possibilities and capabilities of product. This selected group will be offered a chance to test the use of All Eyes with older siblings in the same household. An estimated additional 200 devices will be given away on promotional basis.
Website creation and maintenance.
In October 2012: The All Eyes website will be created and links hosted on the various maternity clinics websites with State-Wide offering of information videos on All Eyes and news items on the pilot launch and the results from interview testimonials from student nurses, residents and expectant mothers and their spouses.
Movie clips production and dissemination.
November to December 2012: A selection of 20 funny YouTube 3-minute movies will be launched with a story-line that ends each movie with promise of an intriguing follow-up to the story that can be accessed in the next couple of days to keep people engaged. The movie videos will make reference to the All Eyes website to link to for additional information on the movies’ storyline or the product. These movies will be advertised and promoted through Google and Bing websites, as well.
December 2012: Information will be released on the date of availability to the public being from 1st January 2013. The initial offer will be for only 200 units to be released on first-come first-served basis, and be given as free hardware component, but having a subscription fee only, at $10 a month. The information will include the initial price offer at $1,200 a unit, available for sale only starting in March 2013.
Before the first sales offer at end March, beginning April 2013, All Eyes estimates expenses that will be incurred, apart from salaries, will be for 700 units costing the company $250 per unit – adding up to $175,000 in promotional product give-aways, as well as an additional $50,000 in Youtube movies, adverts in Maternity magazines, and TV advertising on daytime PBS and Channel 13 of a short one minute storyline that progresses over 2 months. 3.8 Marketing Research
All Eyes On You Secretively has collected data about its competitors and on its target market. Before determining what strategy to take, All Eyes gathered the information about the other companies’ strategies and researched possible solutions needed for success. Providing the best service with knowledge of customer needs, All Eyes will continue to gather information by using a research team. Also, customer feedback will be the key in improving and updating the service. In addition the research team will sometimes survey the customers and potential consumers. All eyes will also have a Face book and Twitter account to follow its customers and gain information. The use of social media will also help to give an idea of what type of service people need by following discussions and threads.
Limitations and challenges will be attributed to the lack of privacy. Some people are not prepared to discuss their private life, and this would make it hard to get information and do surveys.
4.0 Controls
All Eyes on You Secretively is designed to measure the performance of the following area: * Customer relation and feedback received * Financial budget of the company * Innovation of the product and services offered * And finally the competitiveness level against the rival company
4.1 Implementation
A team of employee will be put in place in order to coordinate the plan implemented by the company manager. The team will include an employee from the department of finance, marketing, management and the customer relationship to enable the goal implemented by the company to be successfully done and improve in case needed.
The team in charge must meet the following milestones and during the first year of launching the product, the team of employee must: * After each three months, evaluate the performance of each department according to the mission statement of the company. The team must also evaluate the budget of the company through its expenditures and revenues according to the financial objectives. * Be subsequent to the leader company movement or innovation in order to use any of the defensive strategy in response to the rival move (the counteroffensive or position defense strategy) * Evaluate regularly the customer relationship personnel in order to make sure that customers are satisfied with the service offered.
After the end of the first, a report must be submitted to the management department to assess and examine the work of team delegated to supervise the different department; decision and resolution will be taken from the first year experience for the beginning of the second year.
4.2 Marketing Organization
Chief Marketing Officer is to increase sales for the company, while improving the positioning of the brand or brands. This means creating customer experiences and creating positive relationships between the customer and company. The CMO (Chief Marketing Officer), serves as a type of liaison between departments. CMO support team consists of Chief Technology Officer (CTO), to update digital and technical understanding. CMO knows that the customer is important, so having that partnership with the company’s technology peers will keep providing efficient and quality information about the products on the site. The top priority is with sales and service leaders that drive product experience throughout the company. Having an open communication with these leaders is vital, because it creates the vision, targets, and execution plan to make the company thrive. 4.3 Contingency Planning
All Eyes will face many obstacles that will provide growth opportunities with experience gained from improving processes and from patching up and correcting impending difficulties faced. Fortunately, the All Eyes Company has solutions to a few obstacles.
First, the risk of being copied by competitors will be eliminated with copyright protection and efficient performance to neutralize that threat. Secondly, All Eyes will aggressively upgrade its products to remain ahead of technology and ahead of competitors. Costumers will choose All Eyes because the upgraded products will keep up with new trends to remain attractive. Thirdly, a Research and Development (R&D) capability, allows All Eyes to promote products effectively and efficiently. Constant R&D improvements will create a better strategy for reducing the risks of overspending, high costs, and customer traffic. All Eyes has written up contingency plans to put in place that lists and preempts issues that may occur, and that covers all of its concerns and continues to fine-tune the plan to deal with and handle crises situations as a priority.
To remain the industry leader in the wireless spy cameras industry, even while competitors represent a continuous threat, the R&D department is geared towards carrying out the task of creating innovative products and services in advance of the competitors to remain ahead and reduce the risk of flank attacks in order to surpass All Eyes on You Secretively.
5.0 Conclusion
In conclusion, All Eyes on You Secretively is a company which provides hidden cameras in houses with a wireless monitoring system.
The purpose of All Eyes is providing the best service for parents regarding monitoring children via hidden cameras and solving the critical issues which might occur in the service. With all written objectives above, the company marketing plan gives information from mission through product and service offering, financial situation, marketing mix to make sure that the project will succeed. In competitive market, All Eyes will use every tool reaching its target and secure its position in the security cameras market against its competitors. In addition, the company will always follow technological trends and improve services to satisfy its customers.
References
About BrickHouse Security | Who We Are & What We Stand For. BrickHouse Security | Home Security Camera Systems | GPS Surveillance. Retrieved from http://www.brickhousesecurity.com/category/company+info/about+us.do
American FactFinder - Results. American FactFinder-Profie of general population and housing characteristics- US Census Bureau. Retrieved from http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?
Kotler, P., & Keller, K. (2009). Marketing management (13th ed.). Englewood Cliffs, N.J.: Prentice-Hall.
New York State Hospital Profile. New York State Hospital Profile-Maternity Information. Retrieved from
http://hospitals.nyhealth.gov/browse_view.php?id=201&p=svc&subpage=maternity *
Wilson, R. (n.d.). Broadband booms, but not here - Distribution World. Electronics Industry News, Jobs & Products | Electronics Weekly. Retrieved June 8, 2012, from http://www.electronicsweekly.com/blogs/parallel-processors/2012/04/broadband-booms-but-not-here.html
Security Cameras | Video Security Camera System | CCTV Video Surveillance Systems. Security Cameras | Video Security Camera System | CCTV Video Surveillance Systems. Retrieved from http://www.supercircuits.com/
Security Camera Systems, Hidden Spy Cameras, & Security Cameras. Security Camera Systems, Hidden Spy Cameras, & Security Cameras. Retrieved from http://www.palmvid.com/
Wilson, R. (2012). Broadband booms, but not here - Distribution World. Electronics Industry News, Jobs & Products | Electronics Weekly. Retrieved from http://www.electronicsweekly.com/blogs/parallel-processors/2012/04/broadband-booms-but-not-here.html
MM522 Marketing Management
Table of Contents
1.0 Executive Summary 1
2.0 Situation Analysis 1
2.1 Market Summary 2
2.2 Swot analysis 3
2.3 Competition 5
2.4 Product (Service) Offering 6
2.5 Keys to Success 7
2.6 Critical Issues 8
3.0 Marketing strategy 9
3.1 Mission 10
3.2 Marketing Objectives 10
3.3 Financial Objectives 11
3.4 Target Markets 14
3.5 Positioning 15
3.6 Strategies 16
3.7 Marketing Mix 16
3.8 Marketing Research 21
4.0 Controls 21
4.1 Implementation 22
4.2 Marketing Organization 22
4.3 Contingency Planning 23
5.0 Conclusion 24
References 25
1.0 Executive Summary
All Eyes On You Secretively (all eyes) is a wireless monitoring camera …show more content…
initially targeting parents and caregivers requiring assistance of nannies, home-health aides, or baby-sitters to take care of loved ones while away from home. All Eyes, will be the household ultimate brand of all time, and the synonym for “protector”, much like the Hoover company name is a noun, meaning a carpet cleaner and with a verb to the company 's name, as in "hovering a carpet ".
As a new brand offering, it will be pitched with "brand building" criteria for creating brand elements in focus. All Eyes will be simple, easily recognized, and a necessity that will make people wonder how past generations survived without it. All other web cams, and camera monitoring devices will pale in comparison to All Eyes which will secure lives and protect loved ones left in trusted care and become the survival tool of the modern age. Much like Apple started in a garage, All Eyes, is from the humble beginnings of a great idea from a few graduate students, currently with limited resources, but with the heart and perseverance of Steve Jobs, to build a memorable, meaningful and likeable survival tool for this generation.
With a launch from New York City, All Eyes will quickly generate enough to allow re-investment of profits to facilitate targeting the rest of the US, Asia and Africa, and to become the “protector” giant in the security electronics market. 2.0 Situation Analysis
All Eyes on You Secretively faces a tough competitive market. The competitors have a broader targeting map and also more categories of products. All Eyes on You Secretively is only selling spy cameras for the home to a certain type of customer. The macro environment factors needed to be considered are demographic, geographic and product knowledge and customization to fit the customer’s needs.
All Eyes on You Secretively’s capabilities will be in being able to help the customer customize any object in the home for security. A personal touch will be offered to serving each customer’s needs, while knowing that there is a need and a market of single mothers and families that share the same or similar living arrangements, and have the responsibility for taking care of children and elderly parents, but need the assistance of someone else when away from home.
2.1 Market Summary
The hidden camera All Eyes on You Secretively abbreviated to All Eyes will primarily target mothers with young children who may be re-entering the workforce, or young mothers who may hire baby-sitters to watch children when they are absent. The intention is to combine and expand the market to include caregivers of the elderly. With the baby-boomer generation retiring decisions are being made on the option of staying at home or being put in a nursing home, making an elderly care target a viable market that will rapidly increase, with an increasing high percentage of elderly people needing care. Combined with the rampant increase in elderly-abuse, a high percentage of professionals with old parents or with young children, health care workers, corporate users and regular people have the need for the security and comfort of being able to check up on loved ones who are put in someone else’s care.
While security cameras that are placed around prominently on the perimeters of businesses can serve as a deterrent, there is a limitation of being obvious to a potential criminal, and allow avoidance of the coverage area of the camera. All Eyes, however, has the distinctive advantage of being able to be camouflaged into any fixture, and an added value of being mobile. All Eyes, therefore, is not limited to securing a fixed area because it could even be placed in a favorite toy and taken to the playground. All Eyes will revolutionize the security and surveillance industry and offer the option of either taping data for later viewing, or for real-time on-demand viewing. With the All Eyes promise of constant monitoring of loved ones – from young to old - babies to the elderly, with less intrusive care and attention, the target market potentially provides endless customers from individual care givers to businesses in health-care.
2.2 Swot analysis
This analysis will identify the internal factors and determine external factors of the business. It will also enable the company to stay on track with its mission statement by looking for opportunities to growth as long as weaknesses are minimized.
Strengths
* Good customer relationship management
The management of customer relations represents the biggest achievement as it allows for the retention of existing customers while attracting new ones. Employees will be well trained and have the capacity to resolve any difficulties that customers may face while in the office. * Excellent quality of products and admirable services
As a security camera company, the main purpose will be providing a solution to allay customers’ anxiety with the use of All Eyes. The services offered to clients could amount to 60% of revenues, which is the reason why customers will be loyal. * Innovative product
Software, developed by the company for apple and android phone users enables all day connectivity and accessibility to the place where the camera has been installed. This provides possibilities of while being anywhere that a client needs to be, and at the same time provide access to enable a check-on and monitoring of all movements in the house.
Weakness
* Not a well-known brand
As a new company, it is burdensome to have a large market share in that industry. This limits the ability to have a well-known brand that meets the benchmark fixed by the leading company. The limited recognition of the brand name has driven the advertising team to engage in active commercial communication to attract more customers. * Limited application of the products
The products function only with the wireless system and are able to record activities up to 2000ft away from the camera position, which compared to our competitor’s products offer more capabilities but cannot work using the wireless system.
Opportunity
* Facility to improve our products
New security system and products come into the market place on a regular basis, which help us to improve our software application for apple and android phone users. * Research and development
The development of the technology is beneficial for the company because customers could use either wireless or 4G technology to check in on their home anytime required and have added security from regular security camera system updated monthly.
Investments will continue in the research of new markets in order to expand product and service targets, thereby increasing the list of target customers.
Threat
* New entrant in the industry
Our threat represents the new company entering that industry. Those new entrants come in with new ways and ideas to install and use the security camera. * Speed of the technology
The fast advancement in the technology is a challenge since the company needs to continuously think and act ahead of the new entrants while investing in new ways to improve software and installation systems.
2.3 Competition Today’s world not really private, and there is always invariably someone monitoring a security camera in all sorts of places. It is clear, that, there is a large market for security cameras either in the office, home, on the streets, or public transportation.
The competition is high and each company that sells these products wants to gain customers’ trust by providing a variety of ways to hide a camera into an object. The competition is well-established and popular companies that already exist within the market. The companies are Supercircuits, Palmvid, and Brickhouse Security. These competitors are selling high tech security solutions to customers; ranging from hidden cameras, counter surveillance, phone surveillance and security cameras.
The competition’s market positioning is to help customers protect themselves, families, businesses, and law enforcement. The competition provides safety and secures products, with the main common attribute of spy cameras placed in homes. Cameras are inserted into clocks, DVR’s, smoke alarms, and thermostats, etc. These products can offer voice recording and night vision or low light, and the companies offer Wi-Fi, wired, and, wireless cameras.
In comparison, Supercircuits doesn’t have the variety of objects to hide a camera in, but offer customized solutions that work for the customer. Brickhouse Security has a wider range of products to hide security cameras than Supercircuits, and goes as far as putting cameras into tissue boxes, a vanity mirror, teddy bear nanny cams, exit signs and plants. Palmvid has about the same range of products as Brickhouse security, but Palmvid uses a better strategy of showing the range of products available by separating the products into categories such as, wired hidden cameras, Wi-Fi hidden cameras, wireless hidden cameras, and DVR hidden cameras. However, Palmvid does not offer customized solutions like Supercircuits and Brickhouse security does.
All Eyes on You Secretively wants to offer customized high tech solutions for the home only to families and single mothers. This is to protect children and also elderly parents that live with the targeted customers. The customer with young children may have a nanny and wants to monitor what goes on at home or wherever possible outside the home – during the day while at work, and or even at night when children are in someone else’s care. Another use is for monitoring the elderly left in the care of a home attendant where there’s a need to monitor for the feeling of security just in case. This is especially necessary with elderly abuse on the rise – making it imperative that nothing goes wrong with the level of care and there’s a satisfaction from feeling the peace of mind from protecting of loved ones. Another use could be just securing the home to diminish the worry of leaving it unprotected.
2.4 Product (Service) Offering Although it is very common these days, to see security cameras in homes being used for different purposes, some people, especially parents, would like to have security camera installed in the house which is hidden and which cannot be recognized by the babysitter. At this point All Eyes on You Secretively has a great idea to provide the service for parents. All Eyes on You Secretively installs security cameras in the toys and some objects in the house which are hard to recognize – items like a toy car, wall clock, a doll etc.
The company installs cameras in different items all around the house. All the cameras are hidden and connected to a system which can be observed by parents. All actions will be recorded on tape recorders. A wireless component is included in the system which means parents can watch the house and children live and remotely. For this service All Eyes on You Secretively has developed an application for Apple and Android phones. Basically the security camera system will connect to parents’ phones using wireless and 4G technology at the same time.
Since the equipment will be working 24 hours, and some technical problems might occur, there will be 24/7 IT service. To avoid these problems IT service will be ready to solve the issue.
First of all the feature of the service is fulfilling a purpose of being a hidden camera that no one knows about, besides the parents. Therefore the advantage of the service is pretty much making the parents comfortable to leave children with a babysitter. The benefit of the security camera is not just to keep an eye on the baby; it also watches the babysitter and monitors whatever activities occur in the house. The product will offer proof for any blame and in addition provide the customer with an insight into just knowing all the secrets in the house.
2.5 Keys to Success
There are several factors that will result with having this product, All Eyes to be successful.
Keys to success will be listed as follows: 1. Spreading by word of mouth, to targeted customers of care givers from people and to businesses, and from the health-care industry. 2. Using online tools, such as: postings to social media sites (Facebook, Twitter), and creating blogs, will include a traceable hyperlink that will allow us to know how many people clicked on each post; and to know how many are concerned with this dilemma. 3. General public needs to be aware of the clear, unique mission statement of the All Eyes products and its’ brand name that will become a long term patent. 4. Establishing strategic networking with various entities, such as: event promoters, business owners, and stockholders will help boost the All Eyes product even more. 5. Investing in Research and Development for All Eyes products’ future plan will allow improvement and innovation spanning the product’s lifecycle to further enhance the company’s growth and sustainability. 6. A nice thoughtful phone number like 1-800-ALLEYES will be remembered by everyone.
2.6 Critical Issues
Products will be delivered to customers via retail shops and the internet. All Eyes can be purchased at company retail stores or on the internet, which gives customers options to actually see the product before purchase, or to place orders from home at their convenience. The online retail shop will also serve the needs of customers located far from the physical retail store.
Customers will seek out All Eyes cameras in order to secure a sense of security through high quality products. It is very important that customers are able to shop with confidence; requiring an assurance that products purchased are high quality, and from a legitimate company. In order to achieve this, there will be a physical retail store. Even though the physical retail store will not be covering all customers, it is important to have an actual site where the actual products can be seen and touched. It should also be mentioned that retail staff will be trained to be able to answer questions, as well as provide advice on which products suit which needs.
The significance of having an actual store cannot be stressed more. However, as it was mentioned previously, an actual retail store will not be able to accommodate all customers, which makes the virtual retail store also an important distribution method. The virtual retail store will address two main issues that cannot be addressed with the physical retail store, which are convenience and catering to customers who are unable to visit our store. The virtual store enables customers to place orders 24/7, at the convenience of their home. Also, customers who do not reside in the proximity of the physical store are able to purchase the products from a virtual store. The virtual store will also be a very big part of technical support service, by allowing customers to contact the company through emails and live chat. While a high importance is placed on face-to-face communication with customers, the internet store will provide experiences that are close to it.
3.0 Marketing strategy
All research shows that parents are very concerned about their kids. At this point, All Eyes on You Secretively is willing to reduce this concern and make parents more comfortable. The product and service which is offered by All Eyes on You Secretively is not common and easy to find in the security cameras market. Therefore providing a product that works properly is the first goal of the company. All Eyes will use high quality materials and a 24/7 communication service with parents to provide a comfortable feeling to its customers. The advertising strategy will build on this purpose. High quality and efficient service advertising will be used to build a sustainable business in the market. Baby magazines and websites are effective ways to reach the target. The company will focus on these media tools, because parents are more likely subscribe to these magazines. In addition some television shows which are about kids can be used to advertise the product and service. However, the customers will be the most important advertisement by recommending All Eyes as the best product and service through mouth-to-mouth promotions. 3.1 Mission
The mission of All Eyes on You Secretively is providing hidden cameras for parents to watch their kids, making sure the equipment works properly. Obviously there is a need for parents to leave their children with babysitters, even if only occasionally. The company is eligible to meet these needs and make the parents satisfied by installing the hidden security cameras all around the house. The customers are parents who are working and have kids. All Eyes on You Secretively creates an opportunity for parents, while they are not with their kids, to watch over children at any desired time. In addition no one will know about these cameras besides the parents. Another value will be that the parents can install an application on their smart phone which is connected to the security system and enable them to monitor from all over. 3.2 Marketing Objectives
Marketing objectives could be defined as the set of goals by the company in the purpose of firstly satisfying and maintaining customers while attracting new ones, secondly promoting new features of the existing products or new products and thirdly framing short and long term goal to be achieved in a given time frame.
All Eyes on You Secretively will focus on the following goals to meet marketing objectives: * The complete satisfaction of the customers
* Analyzing and giving satisfactory feedback to the customers ‘ complaints
* Promoting All Eyes on You Secretively products quarterly to attract more customers
* Increase the sale to a minimum of 5% quarterly
* Innovation and diversification represents the only key to access more market share
* Two years after launching the company, market research will be done in order to expand in the emerging market such as Asia, Latin America, and the Middle East
* Within 5 years, All Eyes will be amongst the leading companies in the industry
* Entertain and maintain good relationship with customers as well as with the company’s partner
3.3 Financial Objectives
The All Eyes product is first and foremost aimed at providing security and comfort for loved ones and their caretakers; providing a sense of satisfaction and assurance of having chosen the right way to deliver on family obligations and responsibilities of keeping loved ones safe.
The business venture, to support this product has to be sustainable and reliably available to groom and retain a loyal customer base stretching down generations, where All Eyes will be the recognized synonym for “protector”. The product and service that goes along with providing this assurance has to itself remain readily available. Keeping All Eyes viable and profitable will provide the financial flexibility adapt readily with changing times and new technologies.
All Eyes will be launched in North America, to provide a predictably safe staging platform, then, be followed by expansion with the “broadband boom” trend expected in “the emerging regions of Asia, Latin America, and the Middle East”, All Eyes will later be piloted through Latin America, Asia and eventually to Africa.
Initially income yields will begin only in the third quarter of the launch. Promotional giveaways- initially to corporate health care centers to introduce and demonstrate the product’s potential – will be made by installing and maintaining about 500 samples, as an introductory promotional phase in the 3rd and 4th quarter of 2012. From 2013, sales target will be 200 units to subscribers who will get the product – hardware – installed free but subscribe to the All-Eyes service component. Actual full sales will begin after the first quarter of 2013, targeting sales of 550 units through a market skimming strategy with prices at $1,200 per unit with an additional $10 monthly subscription for the service. Prices will be dropped to attract a larger segment and increase sales income on a scheduled time frame.
North America Sales Forecasts Period | Units to be sold | price per unit | Subscription Income | Sales Income | Total Income | 3Q 2012 | 200 | - | - | - | - | 4Q 2012 | 300 | - | - | - | - | 1Q 2013 | 200 | - | 6,000 | - | 6,000 | 2Q 2013 | 550 | 1,200 | 22,500 | 660,000 | 682,500 | 3Q 2013 | 700 | 1,000 | 43,500 | 700,000 | 743,500 | 4Q 2013 | 1,000 | 899 | 73,500 | 899,000 | 972,500 | 1Q 2014 | 1,200 | 799 | 109,500 | 958,800 | 1,068,300 | 2Q 2014 | 1,500 | 549 | 154,500 | 823,500 | 978,000 | 3Q 2014 | 1,800 | 449 | 208,500 | 808,200 | 1,016,500 | 4Q 2014 | 2,000 | 400 | 268,500 | 800,000 | 1,068,500 | 1Q 2015 | 2,000 | 400 | 328,500 | 800,000 | 1,128,500 | 2Q 2015 | 700 | 300 | 349,500 | 210,000 | 559,500 | 3Q 2015 | 200 | 300 | 355,500 | 60,000 | 415,500 | 4Q 2015 | 200 | 300 | 361,500 | 60,000 | 421,500 | | | | | | 9,160,000 |
The plan is a decreasing trend in new sales with emphasis shifting to customer retention, by building and maintaining a subscription-income base as the sustainable direction of the All-Eyes brand shown in the following graph, showing increased use of the subscription service. All-Eyes’ will focus on retaining and servicing a growing customer-base, with new sales of the product expected to level-off and subscription income from a loyal customer base increased.
Profit targets are a million dollars net by end year four, most of which will be reinvested into extending the product through-out the United States, then globally. A Market plan will be presented by year 3 of operations for extending globally into Asia, Latin America and Africa.
It is expected that All Eyes hardware will initially cost the company $250 per unit to produce, falling to $150 per unit precisely at the 3rd quarter of 2013, in its second year. Additionally, an initial product promotional and marketing cost of $50,000 is slated for six months into the launch of All Eyes, to be reduced as the brand is able to sell itself from the good customer relationship management that will be practiced. Hence the market skimming approach to recover as much costs as possible from sales starting in April 2013.
North America Income/ Profit Forecasts Period | Units to be sold | Fixed Expenses | Cost of Goods Sold | Sales Personnel | Promo-tional | Net Income (Loss) | 3rd Q 2012 | 200 | 235,500 | 50,000 | 84,000 | 25,000 | (394,500) …show more content…
| 4th Q 2012 | 300 | 235,500 | 75,000 | 84,000 | 25,000 | (419,500) | 1st Q 2013 | 200 | 235,500 | 50,000 | 12,000 | 1,000 | (219,375) | 2nd Q 2013 | 550 | 235,500 | 137,500 | 78,000 | 1,000 | 172,875 | 3rd Q 2013 | 700 | 235,500 | 175,000 | 82,000 | 1,000 | 187,500 | 4th Q 2013 | 1,000 | 235,500 | 250,000 | 101,900 | 1,000 | 288,075 | 1st Q 2014 | 1,200 | 235,500 | 300,000 | 107,880 | 1,000 | 329,190 | 2nd Q 2014 | 1,500 | 235,500 | 275,000 | 94,350 | 1,000 | 290,363 | 3rd Q 2014 | 1,800 | 235,500 | 270,000 | 92,820 | 1,000 | 324,285 | 4th Q 2014 | 2,000 | 235,500 | 300,000 | 92,000 | 1,000 | 341,250 | 1st Q 2015 | 2,000 | 235,500 | 300,000 | 92,000 | 1,000 | 386,250 | 2nd Q 2015 | 700 | 235,500 | 105,000 | 33,000 | - | 150,750 | 3rd Q 2015 | 200 | 235,500 | 30,000 | 18,000 | - | 141,000 | 4th Q 2015 | 200 | 235,500 | 30,000 | 18,000 | - | 138,000 | | | | | | | 1,176,163 |
The profit forecasts are based on the following Fixed, mostly Personnel costs expected: CEO | 220,000 | CFO and Marketing Mgr $150,000ea | 300,000 | A Product & A Service Manager @$80,000 | 160,000 | 5 Admin/Sales/Finance Support | 250,000 | Rental Premises | 12,000 | | Annually | 942,000 divided by 4 for $235,000 quarterly |
Earnings will eventually translate into profits by April 2013, which will eventually level out and remain constant and maintained at around $150,000 after tax by January 2015. 3.4 Target Markets
Defining the target market will allow the company to adapt the products based on the characteristic and requirement of each market, will expand our market share in the industry and increasing our revenues and shareholders values.
The products and services offered by All Eyes on You Secretively is advantageous to everybody, from children to grandparents. Therefore, All Eyes plans to target three market areas:
First target market
Parents with toddler or kids who leave a nanny or babysitter to care for the children would want to know in all the possible details the moves of that nanny and his or her kids while the parents were absent or could be watching through our wireless system from wherever the parents would be located. By using our product, the parents will be there without having to be physically there.
Second target market
The elderly people who need to be watch by caregivers. Sometimes, those caregivers take the liberty of acting improperly with their patients. In the favor of controlling their attitude with the elderly people, the company solution was to install a hidden camera in the house so that any unclear attitude with the patient would be seen and the caregivers could be held liable with proof.
Thirdly target market
This market is reserved to the consumers who need the camera for diverse purposes. It could be to watch a husband or wife moves while one of the spouses is suspecting the other of conducting of secret activities. It could also be a suspicious friend or a roommate act in order to have proof of the suspected activities or attitudes pending on the other person.
The third target market is for specific type of consumer to whom the company product or services will favor them for a short period. Those consumers could turn out to be customers and could also advertise on the usefulness of the company products and services.
To conclude, the All Eyes on You Secretively product and service works as a secret agent on behalf of customers or consumers regarding any clarification needed. Although parents with children that need caretakers are the first targets, the offer will remain open to any consumer who finds a solution using All Eyes on You Secretively. 3.5 Positioning
According to Kotler & Keller, Positioning is defined as “the fundamental key for the marketer to put the image in customers‘ mind” (p. 269). It is very important to implant an instant image of the All Eyes product into prospective customers’ mind. The security that the All Eyes product has provided is positioned to reflect the benefits to conscientious parents who are apprehensive about leaving their children around with “unsecured” babysitters or caregivers. This product will comfort and allay the fears in a parent’s mind about their child’s safety. For example, most parents tend not to fully believe everything children try to tell them about a babysitter’s behavior especially when nanny’s behave impeccable when the parents are around. Parents would be thrilled to have All Eyes to provide an assurance of security and safety. Also, parents can confirm the truth of what children say, ensuring the place of children as any family’s number one priority.
The product is positioned to provide free service for one month try-out. After that, All Eyes has an affordable flexible price that allows parents to be able to feel satisfied. It is an opportunity for parents to grab this because parents are promised not just this product, but also long-lasting product, unique service, and a lifetime warranty.
Therefore, the product All Eyes that provides so much potential benefits and services is positioned based on circumstances that exceed the expectation and the satisfaction of the parents. 3.6 Strategies The strategy for All Eyes on You Secretively will attract a different type of customer base. This will bring an advantage over its competitors and increase business. This company’s mission is to customize their products to the customer’s needs and wants for a reasonable price. All Eyes on You Secretively plan is to portray a more personal effect on their customers, when it comes to families, single mothers, couples, roommates and taking care of elderly parent(s). This will ensure that the company is ambitious towards creating strong relationships with customers. Making sure their employees also creates and maintained these relationships. 3.7 Marketing Mix
There is a market for All Eyes to protect children of all ages, and the main target is to keep loved ones who do not have a voice, and are usually not ready to or unable to verbalize or report abuse. 3.7.1 Price
All Eyes will be priced at $1,200 a unit, initially aimed at high-end professionals intent on re-entering the work-force very quickly and who can afford to buy a little peace of mind, and assurance that, when desperately looking for solutions and assurances, their chosen child-care options are going to be the best option, and can be monitored so they do not have to lose out of the child care process or imagine all the horrible things they are exposing their children to in order to pursue their professions. This market skimming technique will recover the promotional costs, and serve as advertising and launching of All Eyes as a value-for-money alternative measuring how much caretakers are willing to spend to protect and keep loved ones safe.
Prices will be gradually lowered to pull-in and include a wider customer base in order to maintain the sustainability of the product with wider usage. Eventually, the price will be leveled-off at around $400 a unit plus a $10 monthly subscription. 3.7.2 Product and Service component
All Eyes will be packaged as an all-seeing remote monitoring device with a service component of a live-feed of events or routine moments in life. The selling point will be the service attached to this viable protection device that also keeps parents or caregivers easy access and opportunity to share in a loved-one’s daily achievements and experiences to create memories and shared moments even when it is not possible to be near all the time. 3.7.3 Place
Target Market
According to the data retrieved from the US Census Bureau website, for the 2010 Census, out of the New York State population of 19 million, there are 6% under 5years old, estimated at 1.16 million and another 2% between 80 to 84 years old, and 2% above 85 years old – making up a senior citizen sample of about 0.8 million people. The roll-out of All Eyes will commence in July 2012, and has been narrowed down to launch from New York City as the initial target of families with children under the care of a babysitter or other child care services. Mount Sinai Hospital | NYU Hospitals Center | Lenox Hill Hospital | Beth Israel Medical Center/Petries Campus | NY Presby - Columbia Presbyterian Center | Total | 6,212 | 4,582 | 3,657 | 3,733 | 4,538 | 22,722 |
On the New York State Department of Health website, there were 22,722 births in 2009 in 5 targeted sample city hospitals under consideration as potential market sampling of Maternity and Peri-natal units from selected New York hospitals:
Product Sale/Distribution
Sales will be web-based for the product, with the option of either using a monitoring gadget, or downloading the tracking or monitoring application on to other devices already in use – on to phones or laptops or on TV monitors and any other device that can stream live data. 3.7.4 Promotion – Integrated Marketing Communication
July 2012:
Information Booths and Seminars
Information booths and seminars will be organized at the various health technology fairs, at public and private school fairs, as well as in targeted hospitals and various sponsored walks around the city that promote various health causes, for example the AIDS and the cancer walks. The aim is to engage with health care providers, parents and potential parents on the All Eyes technology. The booths and short seminars will create awareness of the service and product across all sectors, from technology aficionados to the technology challenged parents or caregivers in New York and demonstrate the capabilities of All Eyes.
TV and related Web-based TV advertisements
Very short, 1-minute adverts, with a running storyline will be release on PBS and Channel 13, to air 5 times a day, starting in July, where the story builds up and continues to eventually expose the All Eyes device as what allowed parents to be able to know about all the important moments of their child’s life at home, while away and not in physical contact. This advert set is expected to run through the months of August and September as well.
Promotions and Sponsorship
August to September 2012: Sponsorship of maternity, childbirth and parenting classes will be launched in four pilot Maternity Clinics, as a targeted and focused launch option because of the added benefit these selected hospitals offer as teaching hospitals and so are more open to technology in the promotion of safety sustainable protective devices.
NYU Langone
Beth Israel Medical Center/Petries Campus
NY Presbyterian Hospital Columbia Presbyterian Center
Mount Sinai Hospital
Each of the five target hospital will be offered 50 units each installed in all sorts of places inside the nurseries and used a classroom research instrument to teach nursing students, and resident doctors about behavior of babies and nursery staff response times etc.
September 2012: Lenox Hill Hospital, will be included in the pilot group and offered 50 All Eyes units. Meanwhile, a selection of a sample focus group of expectant mothers will be recruited through product demonstration sessions included in child-birthing classes organized by each hospital. The selected groups will be exposed to the All Eyes monitoring devices and offered free devices to use while on admission, with the option to take home on discharge. Follow-up personnel will install and train on monitoring possibilities and capabilities of product. This selected group will be offered a chance to test the use of All Eyes with older siblings in the same household. An estimated additional 200 devices will be given away on promotional basis.
Website creation and maintenance.
In October 2012: The All Eyes website will be created and links hosted on the various maternity clinics websites with State-Wide offering of information videos on All Eyes and news items on the pilot launch and the results from interview testimonials from student nurses, residents and expectant mothers and their spouses.
Movie clips production and dissemination.
November to December 2012: A selection of 20 funny YouTube 3-minute movies will be launched with a story-line that ends each movie with promise of an intriguing follow-up to the story that can be accessed in the next couple of days to keep people engaged. The movie videos will make reference to the All Eyes website to link to for additional information on the movies’ storyline or the product. These movies will be advertised and promoted through Google and Bing websites, as well.
December 2012: Information will be released on the date of availability to the public being from 1st January 2013. The initial offer will be for only 200 units to be released on first-come first-served basis, and be given as free hardware component, but having a subscription fee only, at $10 a month. The information will include the initial price offer at $1,200 a unit, available for sale only starting in March 2013.
Before the first sales offer at end March, beginning April 2013, All Eyes estimates expenses that will be incurred, apart from salaries, will be for 700 units costing the company $250 per unit – adding up to $175,000 in promotional product give-aways, as well as an additional $50,000 in Youtube movies, adverts in Maternity magazines, and TV advertising on daytime PBS and Channel 13 of a short one minute storyline that progresses over 2 months. 3.8 Marketing Research
All Eyes On You Secretively has collected data about its competitors and on its target market. Before determining what strategy to take, All Eyes gathered the information about the other companies’ strategies and researched possible solutions needed for success. Providing the best service with knowledge of customer needs, All Eyes will continue to gather information by using a research team. Also, customer feedback will be the key in improving and updating the service. In addition the research team will sometimes survey the customers and potential consumers. All eyes will also have a Face book and Twitter account to follow its customers and gain information. The use of social media will also help to give an idea of what type of service people need by following discussions and threads.
Limitations and challenges will be attributed to the lack of privacy. Some people are not prepared to discuss their private life, and this would make it hard to get information and do surveys.
4.0 Controls
All Eyes on You Secretively is designed to measure the performance of the following area: * Customer relation and feedback received * Financial budget of the company * Innovation of the product and services offered * And finally the competitiveness level against the rival company
4.1 Implementation
A team of employee will be put in place in order to coordinate the plan implemented by the company manager. The team will include an employee from the department of finance, marketing, management and the customer relationship to enable the goal implemented by the company to be successfully done and improve in case needed.
The team in charge must meet the following milestones and during the first year of launching the product, the team of employee must: * After each three months, evaluate the performance of each department according to the mission statement of the company. The team must also evaluate the budget of the company through its expenditures and revenues according to the financial objectives. * Be subsequent to the leader company movement or innovation in order to use any of the defensive strategy in response to the rival move (the counteroffensive or position defense strategy) * Evaluate regularly the customer relationship personnel in order to make sure that customers are satisfied with the service offered.
After the end of the first, a report must be submitted to the management department to assess and examine the work of team delegated to supervise the different department; decision and resolution will be taken from the first year experience for the beginning of the second year.
4.2 Marketing Organization
Chief Marketing Officer is to increase sales for the company, while improving the positioning of the brand or brands. This means creating customer experiences and creating positive relationships between the customer and company. The CMO (Chief Marketing Officer), serves as a type of liaison between departments. CMO support team consists of Chief Technology Officer (CTO), to update digital and technical understanding. CMO knows that the customer is important, so having that partnership with the company’s technology peers will keep providing efficient and quality information about the products on the site. The top priority is with sales and service leaders that drive product experience throughout the company. Having an open communication with these leaders is vital, because it creates the vision, targets, and execution plan to make the company thrive. 4.3 Contingency Planning
All Eyes will face many obstacles that will provide growth opportunities with experience gained from improving processes and from patching up and correcting impending difficulties faced. Fortunately, the All Eyes Company has solutions to a few obstacles.
First, the risk of being copied by competitors will be eliminated with copyright protection and efficient performance to neutralize that threat. Secondly, All Eyes will aggressively upgrade its products to remain ahead of technology and ahead of competitors. Costumers will choose All Eyes because the upgraded products will keep up with new trends to remain attractive. Thirdly, a Research and Development (R&D) capability, allows All Eyes to promote products effectively and efficiently. Constant R&D improvements will create a better strategy for reducing the risks of overspending, high costs, and customer traffic. All Eyes has written up contingency plans to put in place that lists and preempts issues that may occur, and that covers all of its concerns and continues to fine-tune the plan to deal with and handle crises situations as a priority.
To remain the industry leader in the wireless spy cameras industry, even while competitors represent a continuous threat, the R&D department is geared towards carrying out the task of creating innovative products and services in advance of the competitors to remain ahead and reduce the risk of flank attacks in order to surpass All Eyes on You Secretively.
5.0 Conclusion
In conclusion, All Eyes on You Secretively is a company which provides hidden cameras in houses with a wireless monitoring system.
The purpose of All Eyes is providing the best service for parents regarding monitoring children via hidden cameras and solving the critical issues which might occur in the service. With all written objectives above, the company marketing plan gives information from mission through product and service offering, financial situation, marketing mix to make sure that the project will succeed. In competitive market, All Eyes will use every tool reaching its target and secure its position in the security cameras market against its competitors. In addition, the company will always follow technological trends and improve services to satisfy its customers.
References
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http://hospitals.nyhealth.gov/browse_view.php?id=201&p=svc&subpage=maternity *
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