(partial marketing plan)
© 2010, Argulies Group
KidWatch is a pad that fits between your baby’s mattress and sheet thereby protecting him or her from any crib related injuries. It contains moisture safe electronics that monitor the baby’s heartbeat and breathing. KidWatch’s built in heart monitor sensor can detect a baby’s heartbeat without direct physical contact between the baby and the pad. It sends a signal to a separate device once the heartbeat goes significantly below or above a certain point, or, if one cannot be detected. The ranges of settings are based on medical industry information. It has other monitoring capabilities as well. KidWatch also comes with a back up battery at no additional cost keeping affordability at the forefront. With KidWatch, we strongly believe that accidental crib suffocation will be a thing of the past.
KidWatch is intended to offer a unique level of safety, convenience and affordability that mothers, fathers, and every potential parent has been hoping for in a market saturated with gimmick products targeting infants and toddlers. At present, the current situation indicates that KidWatch has an excellent opportunity to capture a significant market share. Each year hundreds of babies die from cribs related injuries or suffocation. Even more die from suffocation in the beds of their parents and siblings. This happens most often when a baby’s face is covered by a soft blanket or a person in the bed with the baby unintentionally rolls onto the infant child. Our key competitors such as Gerber are mostly located in the United States.
Our target market consist of parents (moms and dads), care-givers, daycares, grandparents, foster parents and every potential parent across United State. Similar products on the market such as Baby Bumper and others have failed to protect babies from crib related injuries, suffocation and death. Parents are excited to try a new product such as KidWatch because with our product the key selling point is that they can take comfort in knowing that their child is protected from potentially fatal incidents such as where the infant is left in a crib or on a bed with soft bedding, blankets, pillows, stuffed animals, and plush toys.
We will use appropriate promotional outlets while making sure we do not exceed our promotional cost budget. In order to promote KidWatch, a sales force will be employed in the major target cities to engage in personal selling. Furthermore, advertising in child safety related periodicals, newspapers and stores like Babies R Us, in addition to conducting child safety seminars targeting expectant mothers and young parents and finally, hospital CEO’s and Pediatric Physicians will also be targeted.
Initial research shows that production of KidWatch would be about $18 per unit, which includes cost of goods, labor per unit, and also transportation cost to market. The initial plan is to offer each unit at an introductory price of $54 per unit. Initial production will be 20,000 units. We believe that $54 per unit should be affordable, and that the safety of infants is paramount to parents as they are willing to spend money on products that ensure their children’s safety and welfare. Second year revenue is expected to surpass $1mm.
(TOC not included)
With the growth in disposable income among young parents, particularly in Asia, the baby care products market is expected to increase at a steady rate. The United States and Western Europe are expected to have the largest shares in the global market. Major baby products include baby safety products, baby cosmetics, baby toys and baby soaps. It has been said that as many as 2.5 million children will be injured every year from simple hazards that can be found in the home. Although this may be alarming, this statistic is good to know because injuries and...