Marketing Plan: Predator Shield

 


 1. Executive summary

Extreme adventure is in the course of releasing a predator shield of its kind which will be referred to as extreme adventure predator shield. Our preoccupation as at the moment is to exceed customer expectations and with that in mind we shall mainly focus on the quality of the product. With that in mind, the predator shield has been designed to last long by incorporating a lithium X1V45 battery and to withstand any extreme condition, the product is encased in a rubber casing.


As a first mover in the industry, we plan to execute a well coordinated promotion to secure a large chunk of the market share before competition sets in. Our target market is the adventurous youth and middle age individuals who spend about $2000 annually in touring the world’s jungles. Our survey shows that 65% to 75% would be interested in a predator shield due to the dangers they are exposed to in the jungle. For purposes of the project, we require about $109,000.


 2. Situation analysis

a) Company analysis

Extreme adventure prides itself as the leading supplier of camping and mountain climbing equipment as well as a wide range of other expedition equipment. Currently we have 60% of the market share. Our mission is ‘to provide quality and reliable expedition equipment to all our customers on a global scale.’


 b) Industry analysis

The predator shield is being introduced in an industry whose net worth has been estimated to be well over $786.8million. Those who explore the jungles spend an average of $1342 on jungle exploration all over the world on an annual basis.


 c) Market analysis

A recent study conducted by this company to chart customer demographics as well as lifestyles took into consideration a jungle exploration list of about 200,000 jungle exploration customers.

Based on the findings, customers were divided into groups which are in one way or the other distinguishable and the base for segmentation included age and sex.


 d) Competitor analysis

The focus in this case is our indirect competitors. As at the moment, Extreme Adventure remains a first mover as far as the predator shield is concerned and hence the only licensee in regard to the same. With that in mind, our drive aligns itself against a wide range of methods which can be taken to be substitutes when it comes to protection against an attack by predators. The alternatives as at the moment include but are not limited to the use of rifles which are in some quarters seen to be unethical.


The use of a rifle for defense ends up killing the predator. There is also the use of an injector gun which temporarily paralyses the predator but its use has been put to task due to alleged negative long term health complications on animals it is used against. The company is hence in a good competitive position when it comes to the predator shield. Its established market for expedition equipment and given the fact that there is no known side effect of using the predator shield as compared to the other products is expected to remain our competitive advantage.


 e) Environmental analysis

Our main strong point is the fact that the predator shield is not known to cause any harm to predators in any way. The developmental stages preliminary research shows that only a temporal discomfort is caused to the predators by the high sound waves emission of the predator shield. This shield is hence in line with measures being taken to avert the extinction of some predators such as the tiger which face extinction.


 3. SWOT analysis

Extreme Adventures is the sole producer of the predator shield in the market place. With that in mind, there are a wide range of opportunities in the market place as direct substitutes are nonexistent. The only threat is the entry of competitors in the market place. Our strengths are informed by our sufficient understanding of the expedition market as well as a superior market share. Our increasing revenue base is also impressive and hence with that trend, we can in future afford to finance distribution expenses (Exhibit 1). As at the moment, we do not have any significant weaknesses.


 4. Marketing strategy development

The target market segment is active jungle expedition adventurers. The product will be made readily available and the design has been done to attract attention from expedition adventurers . We shall focus on the products environmental record as well as its protective and safety aspect. For the jungle expedition lovers below 20 years, we have a wide range of designs to choose from. The product comes in three colors i.e. blue, black and pink. This is a deliberate move to make it appealing to customers of both sexes.


 5. Marketing mix development

With regard to promotion, Extreme Adventure has twin objectives. One will be to stimulate the acceptance of the shield and secondly to enhance sales for the same. Posting to appropriate social media will be our main technique when it comes to promotion. This will be supplemented by advertising in appropriate expedition journals (exhibit 2). 


 With regard to the place, we shall initially be the distribution channel for our seven strategic outlets in several cities as well as 39 other affiliates globally. In the next 7 years, we plan to increase our distribution to include direct sales and delivery from our website.


 When it comes to pricing Extreme Adventure will utilize a cost-plus pricing strategy. This will go a long way towards gaining a better cost control. The price of the predator shield is informed by a development cost of $400 per unit and a markup of 30%.


 When it comes to packaging, all our products are sold in recycled packs. This is a deliberate step to underscore our commitment to environmental conservation. The packaging of the predator shield will not be any different.


 6. Marketing objectives, budgets and timelines

As stated elsewhere, our marketing objective is to stimulate acceptance of the predator guard at the market place and secondly to enhance sales. All the marketing tasks should be completed in a time frame of two years and as this is a resource intensive undertaking, estimates will be developed for the budget. The total cost projections as at the moment is $109,000 (Exhibit 2).


 7. Marketing performance evaluation

To evaluate its market performance, the company will use the profitability index coupled with demand levels. Feedback will be encouraged so as to gauge customer satisfaction. Positive feedback will be an indicator of customer satisfaction while negative feedback will be acted upon by enhancing corrective measures.


Exhibit 1

 The extreme adventure revenues                                                                               

                                                            2005    2006    2007    2008    2009    2010

                                                            $2.3B  $2.9B   $3.3B    $3.9B   $4.2B   $5.1


 Exhibit 2

The marketing expense budget

 

                               year 1

                               year 2

Postings to social media

 

$27,000

$34,000

Postings to expedition journals

 

$19,000

$29,000

Totals

     

$46,000

$63,000

           

 

Rosemary Clinton is the Author of this paper. She is a senior academic writer and an editor and she offers custom research papers. Thus, people that doubt their own writing abilities can use the best custom paper writing service and forget about their fears and lack of confidence by visiting ResearchPapers247.org

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