E PePar marketing plan
Business Idea/Product Students and office personnel are used to the idea of taking notes during classes or business meetings. It is common to find a person with a pen and paper, taking notes about a given topic or presentation. In many cases, these people are usually expected to transfer the notes taken into digital notes by typing them on computers. This, at times, can be really tasking depending on the volume of things needed to type. In certain instances, one may be required to draw or have sketches of drawings which do not have any digital form of templates. This product is unique due to the features that have been embedded in it. It is capable of supporting drawings or fonts that are easy to read.
Once information is written on the paper, it can be edited through use of tools like MS Word, MS Excel and MS Project. The information stored on the pen or paper can easily be detected once connected to a computer. To use this product on any computer, it must first have its software installed for easier access. Students in art and design courses, for example, can use the E-PePar to perform different academic activities. People who are in love with tech devices and often take notes the traditional way can upgrade by using the business’ product. The initial target market for the business’ product is students and office personnel in the state of New York. Students in campuses throughout New York will be the main target of the business.
The business is expected to take advantage of specific days like the first day of the semester, business expos, and open-days to demonstrate how the product works and how it can be bought. Three are pages that support drawings, those that are in table forms and those that are designed like normal notebooks with writing lines and margins. The pages that are a notebook in nature are meant compatible with Microsoft Word tool, making it easier to transfer and edit information. Those in table-like formats are meant to align with Microsoft Excel tools while pages with drawing features are easily supported with tools like Adobe Photoshop, Adobe Illustrator and Corel Draw. The paper or book can be supported by any type of pen only when directly connected to a computer.
Otherwise, the paper is meant to work together with a pen that records everything that it writes. Legal and Ethical Issues Misleading advertisements from the marketing team may result in customers getting the wrong information about the business’ product. This is a great ethical concern that may even end up decoying the reputation of the business (Caudill et al. Misleading advertisements may also result in legal troubles for the company as customers and members of the public can sue for misinformation (11). Furthermore, the initial step of the marketing process which may involve collecting customer data may result in issues of invasion of privacy which can also be problematic for the business. Core Strategy The business intends to adopt simplicity marketing as a strategy to reach its customers.
The simple nature of the product will be used to sway customers from competitors by highlighting the key advantages it has. This will be done to ensure that the business records a profit margin of about 20% in a three-year timeline. Competitive Advantage. The business intends to use the link between the target market and competitor targets to establish a competitive advantage. The simplicity of the product will be brought out as being better than that of competitors, being faster in terms of operations, and being closer in terms of relationship the product and the business will create with customers. The business will utilize this from time to time to boost its sales and increase its profit margins (Low & Jakki 398). Personal selling The business will use salespeople to sell the products to customers after meeting them face-to-face.
The salespeople are able to promote the product through their appearance, knowledge of product n attitude (Chiang et al. The customers are able to receive critical information about the products. Integrated Marketing Communication Approach The IMC approach selected for this business is the use of personal selling, advertising, direct marketing and sales promotion. Price The main target of the business’ product will be students. The pricing strategy will, therefore, focus on the economic situation of students across colleges and universities in New York. The pricing will be divided into two categories; Business Class and Economic Class. The business class will target corporations where products will be sold in wholesale. The economic class will target students and single-user customers and will be relatively cheap (Zhang et al.
Customer Relationship Management Customers are some of the most valuable assets the business will have. A CRM department will be put in place to ensure customer service satisfaction is achieved at all times. Advertising messages will be included with contacts that will urge customers to call, inquire and get assistance from customer care agents. Social media sites like Twitter and Facebook will be used to provide instant assistance to customers with any queries about the products (Park, Chung-Hoon, and Young-Gul 662). Customer information (from websites and product purchases) will be used to determine their preferences and predict their purchasing patterns. livescribe. com/site/. Caudill, Eve M. , and Patrick E. Murphy. com/smartpen2/. Low, George S. , and Jakki J. Mohr. "Advertising vs sales promotion: a brand management perspective.
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