Marketing Plan -- Translator Connect Services
Marketing Plan -- Translator Connect
Marketing Plan for Translator Connect Services
This section outlines the marketing plan for Translator Connect Services. The plan consists of four components: Target market analysis, promotional strategies, marketing communications, and sales and marketing channels. The section below briefly describes the services and attributes of the translation services business.
Translator Connect Service Offering.
Translator Connect Service provides translation services to business, government officials, and travelers who must transact business in foreign lands. Translation services are offered to clients in two ways: Live translators may be accessed via a toll-free phone number in order to provide direct translation during the business transaction. The estimated translation accuracy for this option is 75%. Customers may also access translation services by using a phone application that instantly converts in-put voice to digital text which can be read aloud to the native speaker. This second option requires that the business person requiring the translation a have a basic reading fluency of approximately eighth-grade by U.S. standards. Alternately, the translated text sent to the mobile device can be read directly by the individual for whom the translation is needed (i.e., the speaker of the foreign language). With this standard, a business person should be able to transact business in the foreign language with approximately 98% accuracy.
Pricing. The market rate for basic translations services will be determined following market research specifically designed to determine pricing points and conceivable discounts to distributors. These market research analyses will differentiate market pricing for the text-assisted translation services and for on-site translation services conducted via phone or Skype. A prospective break-even analysis will need to be conducted to facilitate construction of the pricing structure.
Value proposition. Translator Connect Services provides convenient, cost-effective translation services that meet the diverse needs of business people engaged in international business travel. By using Translator Connect Services, business travelers can achieve substantive savings for translations services. Repeat customers receive a discount, and business that establish an account that bills monthly will receive a 25% discount over independent session-by-session activity. Account holders may also select preferred translators, insuring a measure of control over both the translation quality and security of information for highly sensitive transactions, such as the run-up to an IPO offering or conversations with C-Suite level business executives. The value proposition excludes domestic translation services as the competitive market for this business is saturated. However, pending further market research, exception may be made for global business ventures that regularly enlist the services of translators in order to conduct their business both domestically (with foreign business associates regularly visiting domestically sited headquarters or operations) and internationally (in the convention that most closely meets the operations of Translator Connect Services).
Target Market Analysis.
The target market analysis will use a two-pronged approach to market segmentation. The first prong will use strategies based on psychographic data of consumers with regard to preferences, opinions, attitudes, interests, and lifestyles (Kurtz, 2009). The second prong is service-related and will focus on usage rates of similar services and the benefits consumers seek by using a service (Kurtz, 2009) such as that offered by Translation Services Connect.
Psychographic data. Consumers who are likely to be interested in purchasing the services of Translation Services Connect include three basic types of individuals: Pleasure travelers, business travelers, and government travelers.
1. Pleasure travelers visit foreign countries primarily for the enjoyment that travel brings them, but they do sometimes conduct a limited amount of business while traveling in foreign lands.
2. Business travelers have focused goals and objectives that cause them to travel to foreign countries, but they may also include some pleasure travel from time-to-time while on business excursions.
3. Government travelers also have focused goals and objectives that cause them to engage with people in foreign countries but, due to the sensitivity of travel-related expenses as perceived by the public they serve, government travelers experience very little-to-no pleasure travel experiences in conjunction with the travel in which they engage as employees of government organizations.
The following section examines the psychographic data related to each of the user-types listed above. Focus is on the preferences, opinions, attitudes, interests, and lifestyles of these user-types (Kurtz, 2009). This step will assist in the generation of target market user profiles.
1. Pleasure travelers may be uneasy about engaging the services of a translator while traveling in a...
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