Marketing Plan for a New Product
The introduction of the new Delpa smart device under the phablet device category will generate great anxiety and expectations in the market. The inclusion of the changes among people's talk regarding handheld devices will reach out to blogs and media websites. The release of Delpa phablet will cause comprehensive discussion topic among people in the industry. The essential action plans are based on recommended solutions that relate to the 4Ps' of marketing and the marketing mix models. Delpa phablets make their international mark the innovative and competitive communications company at competitive prices. With its home market in the U.S., Delpa will export its products to close to fifty countries globally. The target market includes continental Europe with great focus on the United Kingdom and China. The product is fastest moving in its category especially if the price is reduced by a third.
The process of consumer identification for the Delpa phablets will be significant because they often focus on the various brand characteristics that influence their perceptions about the services or products. The firm will use variables including behavioral, demographic, and geographical differences between the segmented markets to its advantage. Behavioral segmentation approaches are emphasized on the expectations of customers and subsequent reactions when purchasing technology-related products (McDonald & Wilson, 2011). The company will use such knowledge to alter the industry dynamics to its advantage. It is apparent that Delpa identifies and anticipates macro developments in the industry and subsequent performance.
Pest Analysis
Political
Economic
• Diverse national economic policies
• Different environmental Policies
. Availability of government support on technological advancements
. Availability of tax incentives
• Global and local economic crisis;
• Slow growth of local economies;
• Very competitive market
• Poor consumer sentiment;
• Rapidly changing consumer's buying behavior;
Social
Technological
• Increased Handheld device ownership;
• Growing knowledge and concern for the environment among people;
• Slowing consumer-buying pattern
• Huge population;
• Impact of the brand image
• Maturity of technology;
• Potential for development and innovation;
• Intellectual property;
• Competing technology development;
• capacity and maturity of manufacturing
SWOT Analysis
Strengths
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