Marketing is an integrated communications-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others. Perhaps the most important factor in successful marketing is marketing plan. A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line.
The purpose of this marketing plan is to clearly identify the direction that we have decided to take in order to MARKET our business - to promote our business, attract and retain customers and exploit identified marketplace opportunities. The marketing planning process forces us to assess what is going on in your marketplace and how it affects our business.
Based on the above analysis we are going to identify and analyze marketing plan to our new product “ The Sonic 1000” through its information.
I. EXECUTIVE SUMMARY
According to the latest industry research, the sells of personal digital assistants (PDAs) are growing as well as turning out to be more popular among educated people. Consequently, Sonic, a hypothetical start-up business is preparing to launch “The Sonic 1000 PDA product” with exclusive features at a value-added price for consumer and business market in order to compete with the existing PDA makers such as PalmOne, Samsung, Nokia, HP, Sony, Apple...and so on.
II. SITUATION ANALYSIS
Sonic is entering in a mature market such as USA, Sonic 1000 will face many challenges which come from the competitors, development of technology, industry consolidation, and pricing pressure as well. However, Sonic 1000 offers a unique combination of exclusive features and functionality at a value added price, therefore, together with the marketing plan, we can assure for our market penetration as well as the development brand and product awareness.
2.1. Market situation
a. Demographic environment
• US market is the biggest market in the world, people who are living in US prefer to use single device to communicate, information store and exchange. Therefore, US market will be our first geographic target area. After that we will try to expand to the international market (North America, Europe)
• The total target population of both personal and professional users is 5 million PDAs and 22 million smart phones worldwide each year.
• Income distribution: The economy of the United States is the largest national economy in the world. Over the past three decades, the rich have grown richer, the middle class has shrunk and the poor have remained poor. From 1973 t0 1999, earning for U.S households in the top 5% of the income distribution grew 65%, compared with -growth of 11% for the middle one of households during the same period. This affluent people able to buy expensive goods and working class people having more carefully, shopping discount stores and factory outlet malls, and selecting less-expensive store bands. This is a good opportunities for Sonic 1000 for focusing on Sonic’s market target. (Maketing management- Phillip Kotler , Kevin Lane Keller, 2009)
• Saving, debt and credit: Consumer expenditures are effected by savings, debt and credit availability. US consumers have a high debt-to-income ratio. Credit is ready available in the United States. Therefore, it creates more convenient for US consumer when they want to buy goods to meet their demand. (Marketing management - Phillip Kotler , Kevin Lane Keller)
Technological is one of the most dramatically forces shaping people’s lives. In the telecommunication market, this is probably the most important factor in effecting companies development of their marketing strategy as they must...