December 15th, 2012
Marketing Final Project
TABLE OF CONTENT
Using Blue-tooth technology, 2Blu-Eyes is preparing to launch a new state-of-the art glasses that will provide you not only with audio but video. You can now listen to the music in your playlist and view your playlist without looking at your device leaving your pocket. The product also comes with dual microphones that allow you to speak voice commands to your device. It also allows you to check emails, view audio and video playlist, send text messages without taking your device out of your pocket. Now this is truly hands-free technology. Our target market will focus on smartphone users that use blue-tooth hands free technology, middle to upper class citizens, large urban populated areas, and distribution to international markets. 2Blu-Eyes for the first year sale revenues are projected to be $200 million, based on sales of 700,000 units sold at a wholesale price of $299 each. The second year product will be the 2Blu-Eyes 3D and High Definition (HD) emphasizing more modern or up-to-date features of sun glass technology.
2 Blu-eyes include departments such as management, finance, research and development, purchasing, operations and accounting. Each individual department will have input into the marketing plan or decisions. For example, accounting approves the financial side of the marketing and budget plans while research and development as input to the features the product will perform. Management will delegate decision making from senior to middle management and then employees. Suppliers are also an important aspect of the microenvironment because the slightest delay in receiving shipping supplies can or may result in customer dissatisfaction. Marketing managers for the company must watch supply availability and other trends dealing with suppliers to ensure that product will be delivered to customers in the time frame required in order to maintain a strong customer relationship. Factors such as: man power (Samsung & LG), money (Ventured Capitalist to fund loans), machinery (Samsung and LG will create frames, lens & technology), materials (blue-tooth technology), & markets (both internal and external) will also be included in the internal environment. Resellers, physical distributors firms, marketing services agencies, and financial intermediaries are the people who will promote, sell, and distribute the product to final buyer. Here we can utilize other competitors to match distribution and sales such as Tri-specs and Oakley who utilize blue-tooth and smart phone technologies.
The microenvironment also includes customers (consumer, business, government, international, and reseller markets) & competitors (includes companies who offer similar products). External environment
Demographics includes, (size, density, location, age, race, gender and occupation) 2Blue-Eyes will divide the population into market segments and target segments. For example, demography can reflect classifications such as baby boomers, and or generation X or Y. These particular generations play a huge role in consumer purchasing as this will help the company to decide who their product would benefit the most. Demography covers many aspects that are important to marketers including family dynamic, cultural, social, and personal factors and levels of diversity in any given area. Economy reflects purchasing power of potential customers and ways in which consumers spend their money. This will be important for the marketing department because of the various spending patterns and distribution...