Marketing Plan
Product / Service Concept
The multifunctional remote device is designed to enhance convenience of most functionalities for electrical/electronic equipments used by consumers. This product offering enables consumers to access and control different electronic devices and equipment through a single remote device. This will facilitate communication with different servers linked to the organization. The benefit of this product is that it will enhance the convergence of technology used within an organization. This is a user-friendly device purposed to increase the level of convenience for end-users. In addition, this will increase the level of consumer satisfaction. The introduction of this product offering offers a substitution to the use of different remotes for different electronic devices. For instance, within the hospitality industry, the multi-function remote device will facilitate different conveniences such as audio and video devices, room temperature controls, lighting, room printers, television, and even bed movements.
Product Mix
Products
The new product offering markets not only a better working space for an individual but also increases convenience for businesses and companies in general. The imperceptible merits of this product offering are its capability to meet or exceed customer outlooks consistently. Nevertheless, the disadvantage to this is that other corporations can simply imitate these qualities. Still, being the pioneer will enhance the competitive advantage of Logitech.
Price
Logitech offers a high-grade domain- marketing product custom-made to its customers' needs. The worth of this product and service is exhibited in its medium to high price. Nevertheless, the company should be aware and cognizant of the price elasticity of its product and overall consumer demand.
Distribution
Direct marketing distribution will be used for this product offering. This is takes into consideration the fact that new product is solid, portable, and nonperishable. Therefore, the product can be distributed from a chief location direct to satellite outlets of Logitech spread over the globe. The ability to distribute the product to different locations worldwide is an added advantage for the company (Proctor, 2000).
Promotion
Logitech needs to take part in comprehensive promotion and marketing activities. In particular, the company will need to generate a new budget for the incorporated marketing strategy that encompasses promotion and advertising activities for the fruitful initiation of the product offering. The promotion message of the initiation of the new product offering has to be generated in tandem with marketing goals, the target market, and other features of the product. Logitech will also need to concentrate in industry print media encompassing industry sector journals and magazines. More so, Logitech will have to establish a sequence of presentations and showpieces to participants in the industry, specifically electronic retail outlets, players in the hospitality industry and the like (Roger, 1998).
Target Markets
In essence, the characteristics and needs of the potential groups of consumers encompasses convenience in use of several different devices. This is centered on increasing consumer satisfaction and expediency in the delivery of services. There are different segments of consumers that are linked to this product offering. The product targets not only individuals but also corporations. For individual consumers, the product will enable the convenience in use of different devices within the house as also at workplaces. On the other hand, with regard to companies, the product is targeted for different industries. For instance, in the business sector, the end-users will have convenience and expediency in presentations. On the other hand, for the hospitality sector, the end-users will be able to increase in-room services for consumer satisfaction. The clients will be able to use the product for different services in their rooms such as control of lighting, room temperatures, audio and video devices, their workspace devices and even the door of their rooms.
Kotler's 7Os conceptual framework
Consumer behavior examines the manner in which consumers choose, purchase, use, and dispose off products and services and the notions to satisfy their needs. In order to gain an understanding of the consumers in the target market, Logitech will have to depend on 7O's framework for consumer research. These 7 O's help companies in ascertaining basic customer needs and wants and as a result Logitech will be capable of segmenting the market, target and position the product they provide so as to attain competitive advantage (Kotler, 1997).
1. Object
This will take into account the choice of the consumer with regard to the range of products or services rendered. For instance, Logitech will consider the different devices such as audio devices, video devices, lighting devices and room temperature devices.
2. Occupants
Logitech will have to consider...
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