INSTRUCTIONS: Write a basic draft based on the following “made-up” product”:
Underwater Watch – Tracking Device when you’re swimming. When you go below altitude it notifies a rescue that you’re in danger.
It will create an additional company to save lives. Way of rescuing someone. This product would appeal to swimmers. Would track fitness and location using satellite.
There would need to be a partnership with a large service provider. They could work together with us to make this happen.
Determine what motions activate emergency alerts
You can tell the watch when you’re sleeping so that it doesn’t assume you’ve been immobile for too long.
Voice activated – you could communicate by just saying help 911 (Feature available above water)
If you’re underwater there could be a button you push or lack of mobility triggers the emergency response team.
Your “Strategies” section should discuss the major marketing approaches (e.g. high quality, high price, exclusive distribution, & extensive advertising) that you will employ whereas your “Marketing Mix” section should specifically describe what strategies will be included within each of the 4 P’s (especially price, place, and promotion) to implement your product positioning. Your “Controls” section needs to address how you will manage your Marketing and Financial Objectives through the use of appropriate metrics. Your “Implementation” section should describe how you will execute the elements of your Marketing Mix. Finally, your “Contingency” section should relate to the critical issues described earlier.
PLEASE COVER ALL TOPICS LISTED BELOW and incorporate our product:
3.0 Market Analysis
3.1 Macro Environment
3.2 Market Size and Growth
3.3 Market Trends
3.4 Target Market Segments
3.5 Customer Analysis
3.6 Need Analysis
3.7 Competitive Analysis
3.7.1 Direct Competition
3.7.2 Indirect Competition
4.0 Marketing Strategy
4.1 Marketing Objectives
4.2 Financial Objectives
4.3 Positioning Strategy
4.5 Product Strategy
4.6 Price Strategy
4.7 Distribution Strategy (Direct, Indirect, Online)
4.8 Integrated Marketing Communications Strategy
4.9 Marketing Research