Marketing Plan: Product and Performance

Topics: Marketing, Radio, Strategic management Pages: 24 (4702 words) Published: October 2, 2014

MARKETING PLAN
PRINCIPLES OF MARKETING

Friday, October 20th, 2013
By Habib Shaikh [1111192]
Submitted to Ma’am

Executive Summary

Mobility, latest trends and technologies are three most significant factors that customer seek today when they walk-in in an electronic item’s outlet. Years before the journey of technology started out from the calculator the most basic computer as we call it. Today that technology has emerged and the most latest is PDA (Personal Digital System), full computer in a small device to perform all of the tasks. New Nokia Mobile phone has all the features of a desktop computer, no need of a laptop. The phone is easy to carry, manages schedules, and can perform all the business related tasks. The size itself has become important apart from mobility. The concept that we are launching is of a radio and music player which is latest in the sense that you can wear it as a fashion accessory. Radio is considered to be one of the most important media apart from television and internet. The major source in use during cricket matches, exercising in the morning and during traveling for work or school. 73% of college going women (18-25) years of age surveyed tune into radio, although the channel loyalty is not there. The most frequent listening occurs after dinner time. This is different from male radio listeners as the FM channels are replacing cassettes as a music source while driving, other survey shows that one of the popular source of music are the FM stations, FM 89, 91 and 106.20 are extremely popular within the target market. The major target market for our product is the age between 15 and 26. According to the statistics, 30 million Pakistanis are aged between 15 and 24. Considered in the context of total population (approx. 180 million), 16.667% of Pakistanis are young. Statistics shows that 60% of population is under 25 that is 2/3rd and nearly 10 million are in the urban areas. GEN X and GEN Y is the most experienced and accessed generation in the human history. This generation is the technologically accessorized generation, with everything hanging from their clothes, from cell phones to CD players, and computers are a way of life. This is a branded generation, brand names, association with the great life and other symbols are important. The emerging concept of brand association amongst teens and adults, and awareness will make our product more appealing to the customers. Our Primary objective is to achieve get our product recognized and make the consumers to get performance of the product way better than their expectations. Our Secondary objective is to make good profits and make more products like this with working hand in hand with the fashion and our way would be walking from earrings to necklaces, bracelets and other fashion accessories.

Table of Contents

1
Executive Summary
2
Table of Contents3
Marketing Research
4
The Product5
Market Analysis8
Competitor Assessment12
Marketing Strategy14
Action Programs20
Forecast and Budget21
Implementation and Control Plan23
Contingency Plan
24

Marketing Research

Methods of Data collection:
Basically there are two methods of data collection:
1) Primary Data
2) Secondary Data

Primary Data Collection:
Primary Data is that data which is collected specifically for the project at hand. The primary data for our assignment resulted from the unstructured interviews that we conducted from different friends and family members and also many strangers.

Secondary Data Collection:
Secondary Data is that data, which has already been collected for some other purpose but can be used as reference material. The secondary data for our assignment came from the internet, newspapers and magazines.

Current Market Situation:

The current market situation is that from the cheapest of phones to the most expensive, every smart phone has at least a radio in it that works from earphones that do the job of an...
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