Marketing Plan for Markstrat
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Executive Summary * -------------------------------------------------
As the marketing team for AY, we have developed an effective marketing strategy that has led to our current lead in stock market price and overall revenues. Our current phased strategy of capturing three market segments with three distinct products will extend our market dominance and provide long term stability through diversification. * -------------------------------------------------
In the initial phase, each of our Sonites are targeted to specific, growing groups in the market: SYGU to Singles and SYCA to High Earners. By focusing our advertising dollars to these segments, highlighting features they desire, and concentrating our sales people to the places they like to shop, our Sonite market share has increased from 18.5% to 27.7%, with SYCA notably doubling its overall market share from 8.9% to 16.6%. Every two periods Research and Development (R&D) will deliver enhancements that will retain market dominance by updating the products to suit customer desires. * -------------------------------------------------
Our secondary strategy involves entry into the Vodite market. To capture the potential long term growth and profitability in the Vodite market, VTYL was developed and will be released in Period 3. VYTL will capture a majority market share of Early adopters through a blended marketing effort targeted towards early purchase intention from Innovators and brand awareness for Early Adopters. In Period 5, a newly developed VYTL will be released to target the desired qualities of Early Adopters, leveraging the built-up brand awareness. * -------------------------------------------------
Our existing strategy has led to market success, and our current market leadership gives us a strategic advantage in execution in these three strategic markets. Based on our
* -------------------------------------------------
Executive Summary * -------------------------------------------------
As the marketing team for AY, we have developed an effective marketing strategy that has led to our current lead in stock market price and overall revenues. Our current phased strategy of capturing three market segments with three distinct products will extend our market dominance and provide long term stability through diversification. * -------------------------------------------------
In the initial phase, each of our Sonites are targeted to specific, growing groups in the market: SYGU to Singles and SYCA to High Earners. By focusing our advertising dollars to these segments, highlighting features they desire, and concentrating our sales people to the places they like to shop, our Sonite market share has increased from 18.5% to 27.7%, with SYCA notably doubling its overall market share from 8.9% to 16.6%. Every two periods Research and Development (R&D) will deliver enhancements that will retain market dominance by updating the products to suit customer desires. * -------------------------------------------------
Our secondary strategy involves entry into the Vodite market. To capture the potential long term growth and profitability in the Vodite market, VTYL was developed and will be released in Period 3. VYTL will capture a majority market share of Early adopters through a blended marketing effort targeted towards early purchase intention from Innovators and brand awareness for Early Adopters. In Period 5, a newly developed VYTL will be released to target the desired qualities of Early Adopters, leveraging the built-up brand awareness. * -------------------------------------------------
Our existing strategy has led to market success, and our current market leadership gives us a strategic advantage in execution in these three strategic markets. Based on our