Last updated: February 24, 2019
Topic: ArtRadio
Sample donated:

Abstract.

TIVO industries are a modern electronic designer and developers who produces and distributes TIVO- DVR.  They have good reputation, integrity and they have quality electronic equipments which have stood the test of time. Since the company was incorporated as seen, sales increased steadily. They have a large clientele for their current product which is being sold in the US and other countries of the world.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

The company’s principal activities include manufacturing, designing and development of electronic accessories. They also offer services for the same to their customers. The company’s most revenues arises form the sale of TIVO-DVR. It has branches in various parts of the country. The company currently wants to introduce D-Tach product which will be used by their customers, Q409 and Q208. They have identified the target market to be the US and other country’s TV watchers. They have also identified that other companies in the electronic industry may produce the same product for the same market. They are faced with the challenge to keep their market intact.

The product and services will include physical D-Tach product and intangible product i.e. services. The product will be used by the TV watchers who are the target. The product enables the sharing of TV program with other subscribers who have d-T ach. The device will be of high quality thus reliable. The company has engaged in the marketing of the product using retail electronic stores, advertisements in the TV’S, radios, videos and the newspaper. The price of the product will be determined when the product is out and at the time, there will be market segmentation. The product will be produced for purposes of satisfying human needs, i.e. the socialization issue. The company will use electronic store, retail, wholesale, direct selling as a means of a distribution channel.

There fore the product has a bright future for its success.

 

Introduction

We could like to introduce TIVO-DVR industries who specialize in the manufacture of TIVO-DVR electronic products for use. The firm was incorporated in the USA with an aim of producing electronic equipments. Since its incorporation, the company has grown over years in all aspects and they have contributed to the growth of the electronic industry market. They have seen a steady growth in revenue and product development. They have hired the best human resources in both technical and non-technical staff.

Planning

Planning is an exercising foresight regarding the anticipated outputs of an organization in order to maximize the inputs available. If the required inputs in terms of advertising, promotion, production and personnel are beyond the firm’s capability then the goal should be modified to reflect available resources.

For our marketing plan to be effective, the following should be implanted; investigate the present situation, consider alternative causes of action, select one of the alternatives, provide both human and material resources, communicate with everyone involved so that each knows his or her particular role in the process and evaluate progress periodically in order to ensure that action is taking place according to the plan.

OBJECTIVES AND MISION STATEMENT.

D-Tach is a device that is used to enhance an existing DVR to enable customers to send favorite programs to their friends. The product is a chip that is clipped into the client DVR and then programmed to send programs that are recorded to other people. The major objective is to come up with a quality product that assists customers who have a DVR to add a feature that can help them to send recorded programs to friends at a small fee. This product is to be used by customers who already have a DVR and because of the partnership with (TIVO), the clients who have a TIVO-DVR will have to be directed to consumers who have an existing DVR system. This will rapidly increase the market share and profitability of both D-Tach and TIVO because of the partnership.

It is also a good plan to increase the company’s sales to existing TIVO clients because this will be the stepping-stone to the development of a client base in order to assist the company to introduce the product to a new market. The company’s sales will also increase because of the option to buy a TIVO-DVR and then a chip is inserted or customers also have an option to but a combination (combo) of (TIVO with a chip). This feature will enable new (TIVO) customers to go for products that have an already included feature, and hence D-Tach will extend sales to all two customers, to Q409 and Q 208 new customers.

The objectives of introducing this product to the market is to give customers an add-on feature that is not in other competitor products, this will increase the annual rate of return on investment of the company. The other objective is to come up with innovations on latest product features that will be used by customers that are incorporate classes and groups as well as organizations.

As a company, the other objective is to increase the market base by agreeing both the management objectives and those of the product. The other objective is to solve customer need through satisfaction, this will be done by identifying those needs or creating the needs, by making customers to have that urge to use the D-Tach product, then trying to solve the needs through investments in good research and development in order to add new product features to the D-Tach product. Good compensation plan is also essential to the staff who come up with good ideas for product feature enhancement. The other objective is to come up with reliable products through product testing and ensure reliability through good warehousing and distribution.

CUSTOMER TARGETS

In order to identify and serve customer targets well, there is a great need to understand their needs and wants. This is how that particular product will serve the needs. Take for example D-Tach: most people will not have enough time to watch all programs and hence the need for the D-Tach chip. This will also assist those who want to buy more than one TV set because they can receive favorite programs or send them to friends through this feature. Once the customers see the need for the product they will also enhance the market for TV sets and related ideas. Therefore, the product targets those clients who watch too much TV or those areas like the USA where a greater population likes watching television. The company should come up with a product that is easy to operate so a s to make the customers more comfortable. Proper studies should be done to the market before coming up with new ideas.

COMPETITOR TARGETS

Competitors will try as much as possible to produce the same or similar products with features similar to the D-Tach features but are minimal. Competitors target in most cases will be the same target market as that of the D-Tach product market, this means that they will also target the USA TV watchers and will try to develop their product or add product features with the aim of taking over the target market and to deal with them, there should be the development of quality products and develop the sense of high quality image. The use of highly knowledgeable and well-trained sellers and dealers, having an excellent service network that consumers know they will get quick repair services.

Customers’ understanding is also very important through face-to-face encounters and discussions with them. This is also possible through market research to understand how they feel about the product features added to the product and what influences their patterns of purchase and what motivate them to buy the product. Major competitors are identified and described in terms of size goals, market share, product quality, strategies and this enables us to understand their intentions and behaviors (Winer, R.S. ,2007)

PRODUCT SERVICE/FEATURES

The D-Tach product & services are to send programs that have already been recorded to other people. These customers will have the ability to send a favorite program to their friends. This is a good service offered at a fee and will solve the customers need to communicate through signals, send good episodes of their favorite programs to friends via linkage. This is possible through the various product features that are evident in the D-Tach product. It is inclusive of a device chip that can be bought cheaply at selected stores that sell electronics after which customers will enroll in a DVR transfer club and pay a fee to transfer favorite programs. The other option is to have a TIVO-DVR that has the D-Tach feature attached to it as a combo. Perhaps the most important factor is that feature that prevents other competitors from viewing the customers’ selection of programs. This feature will supplement the products basic functions and it is important to note that the best way to compete is being the first to come up with new valued features. Great consideration should be given however to how many people want each feature and how long it will take to come up with each feature and whether competitors will easily cope with the feature.

CORE STRATEGY

Target market: – TV watchers who have that problem to deal with & that is to share their favorite programs with other subscribers hence D-Tach will enable them record their programs and send them to other people.

Positioning – D-Tach is the most superior and best and most reliable device with high quality and day-to-day product development features added to enable customer satisfaction.

Distribution: – The product has two options where a customer has the option of purchasing a TIVO combo or purchasing a D-Tach chip to attach to his DVR that is available at the local electronic store like (Radio shack).

Service: – Quick and available services.

MARKETING MIX

Marketing is vital in all types of organizations and in order to be successful, there is the need to incorporate the marketing mix.  The marketing mix elements are product, price, place and promotion. Our product is D-Tach and we have looked at the product features that make it stand out from its competitors. We have also looked at place. That is how the product will reach the consumers. Good strategies for products should also consider the price. Promotional mix is important in this case because good advertising, personal selling, sales promotion and publicity skills should be employed to enhance the sales for D-Tach and expand the market. This will ensure that the bundle of benefits a customer gets from a product serve the purpose for which he bought it. This will also assist the company to alert customers to be aware of the product i.e. in advertising. There are many ways of advertising. Communication that can be used on D-Tach are visual adverts- newspapers, magazines, e.t.c. other ways are audio-visual- T.V, videos and cinemas and audio where advertisers use the radio. Another very good form of promotion to use is via the internet where D-Tach products can be placed online for customers to be aware of and purchase.

Good promotions aimed directly at the customers can also enhance sales just like direct mails, fliers or posters that can keep the customer updated about the product. For this case of D-Tach where the product is sold in retail, electronic stores, personal selling is essential but there is need to employ effective sales people to sell the product and explain the important product feature (Winer, R.S. ,2007).

 

PRICE

The pricing of products is divided into two. One is purchase of the special devices that will be inserted in the existing DVR systems that is, fixed price per chip and on the other hand, we have the price depending on the number of shows a customer sends per month. This varies according to the usage of the service and this pricing is rather psychological because it encourages the customers to use more product because the more programs, they send the less the cost per program and those with unlimited shows per month pay still less per month and this type of pricing tends to reward loyalty of customers to the products. The price discounts are also used as promotional methods to encourage the customers to join in as groups and organizations. This is corporate pricing (Winer, R.S. ,2007)

.

In order to have good penetration to the USA market, the D-Tach device should be properly priced with good deals to both the buyer and the company. Price is the major determinant of buyer choice and price factors play a major role inn consumer behavior. Price is the major element in any product that produces revenue. In the case of D-Tach product where there are two elements of price, one where the customer buys the D-Tach special devices that are inserted in the DVR system. To price devices, the company will consider several factors such as quality. Pricing of a product should be done at the time when the product is developed and introduced into the distribution channel or geographical area. In our case, D-Tach being a high quality product, it will relatively high price which means our aim of the company will e to insist on quality and quality sensitive customers will still buy D-Tach devices but avoid over-pricing the D-Tach product in relation to the quality because customers will talk bad about the product. Before we set the price for D-Tach we have to consider things like, the pricing objective, determining the demand, costs whether direct or indirect of production, we have to look at competitor prices, then we select the pricing method and finally we come up with the price for D-Tach. The other price for shows per month will be based on customer-segment pricing which is part of discriminatory pricing. Here different customers groups will be charged different prices for the same prices i.e. there will be different prices for those who want the D-Tach services as a group. Price will also vary according to usage and our price will be rather psychological and this will encourage the customer to use more product services the more programs they send, the lesser the price per program. Due to the partnership with TIVO, we can also use optional feature pricing where optional features of the main product and services are offered (Winer, R.S. ,2007). Despite the increased role of non price factors, price plays an important role in marketing and in fact it’s the only of the 4 P’s that produces revenue hence price is very important to any product.

PRODUCT POLICY

A product is anything that is offered to a market to satisfy a human want or need. They can include places, persons etc. but our product is D-Tach and it is an idea that helps people to send favorite programs to their friends. For D-Tach to be a good product in the market, five elements must be considered. The first is the core benefit what will D-Tach help the customer? Why should the customer buy D-Tach i.e. send favorite programs to friends? The second is to change the core benefit to a fundamental product hence a device is developed that can be attached to a DVR to enable customers send programs. Third we have to produce the expected product that is a very efficient device that works as the customer expects. The fourth level, there is need to produce augmented product that exceed customer expectations. Fifth, we need to come up with potential product and here thorough research should be done to search how D-Tach will satisfy customers and distinguish the services of D-Tach from other products. A good product doesn’t only satisfy customers but also delights them i.e. exceed their expectations. There is also need for good product mix which is a god form of product assortment or all products that the company will sell when selling D-Tach. This has a width, length and depth. It also have a certain consistency. The width refer to the different product lines the company services, for D-Tach we will only have one product and for the length: total number of products in the mix we have two products where D-Tach will come  to partnership with TIVO hence DVR will work hand in hand with       D-Tach. The depth is the variant or sizes here we have variety of services i.e. for groups and individuals.

A very important aspect of product mix is the consistency in the product i.e. how the product relates with other elements of the product mix for the end use products should go through the same production and distribution channels and perform good functions for the buyer. D-Tach should pursue more product line consistency (Winer, R.S. ,2007).

Distribution channels.

Good distribution channels should also be considered because as much as D-tach products will be properly developed ,it has to reach most of its consumers. The target market of  D-Tach the T-V watchers in the US and other countries .D-Tach can be sold directly to consumers or through several intermediaries .D-Tach can also be sold in local electronic shops which act as retailers for the company. These plays a major role because they will negotiate with customers on the company’s behalf .the decisions on channels of distribution is very crucial because they affect other marketing decisions. They make goods widely available and accessible to the target market. For example customers can buy D-Tach from local electronic stores conveniently

Because of the experience, they have good customer contacts, specialization, they give  the company more than  it could achieve on its own .Distribution channels should be set up for D-Tach because they enable smooth flow of the product and related services .it will also assist in the physical distribution of the product. Since D-Tach is a physical product, we need three channels that is sales channel delivery, channel and service channel. To sale D-Tach alternatively, the best option is to develop a workforce, assign sale representatives to territories to contact people or prospect. There is also need to hire experts in electronics in different regions to sale the product. The last method is to find distributers in different towns or regions who will buy and  carry the device and then give them exclusive distribution adequate margins, product training and promotional support (Winer, R.S. ,2007)

 

The other channel to follow the existing channels for TIVO because of the partnership. for good product distribution good  market channels are vital .channels members or intermediaries should also be given proper training to handle the product. They should also be motivated and good evaluation done

CONSUMER RELATIONSHIP MARKETING

Consumer relations marketing is to consider if D-Tach customers are to be kept satisfied. People who are likely to purchase the D-Tach will be identified and this are called the suspects. The suspects will then be analyzed carefully to determine who might be possible prospects. Prospects are those who usually need the D-Tach products, they have potential interests for the product and they have the ability to pay for the product. Then qualified prospects are tuned to first time consumers’ .first customers are then treated well to be repeat customers who will then form first client base. The clients will turn to members who will then turn to advocates of the product. Then the company should not stay at that because customer relationship marketing aims at turning advocates to partners where customers and the company work hand in hand to get actively. Customer relationship marketing is all about developing royal customers and this brings in more revenue and profitability. This is done in relationship building by knowing more about the customer so that product can be developed and improved to satisfy his needs more(Winer, R.S. ,2007).

Conclusion.

The product D-Tach which is to be produced by this company has a bright future and its success is eminent there fore the company should take necessary steps in producing the product and starting to market it in the market. The current staff should be trained also to be able to market this product.

REFERENCES

Armstrong G. & Kotler P. (2007). Consumer Markets: Influences on consumer behavior, Principles of Marketing.

ICMR Case Studies and Management Resources. (2007). Consumer Behavior. Retrieved January 20, 2008 from http://www.icmrindia.org/courseware/Consumer%20Behavior/CBC03.htlm

Kotler, P. (2005) Principles of Marketing. New York.Melbourne Press

Schaik J.L., (2002); The Task of Marketing Management; J.L. van Schaik (Pity) ltd

Winer, R.S. (2007). Marketing Management, Prentice Hall, Upper Saddle River, NJ.
Television & Health. Retrieved January 21, 2008 from http://www.csun.edu/~vceed002/health/docs/tv&health.html