New Product Launch Marketing plan Part III

New Product Launch Marketing Plan: Part 1

Basil Balogun, Ashleigh Closen, Deyana Salman, Michell Simpson, Shawn Stacy

MKT/571

July 21, 2014

Steven Kraus

New Product Launch Marketing Plan Part 1

Siemens is a powerful corporation that is leading successfully in electronic and electrical engineering within the local and international market. More than a hundred sixty five years Siemens built a strong reputation in leading innovation and the quality performance of its services, products and solutions ("Siemens In The USA", 2014). Throughout the years Siemens Corporation build up an effective performance quality by providing its services in 190 countries among 362,000 employees. However this subject in this paper will rotate in providing an HMI prototypes production marketing plan that explores the market needs and growth; as explaining a brief SWOT analysis within the domestic and international market.

Market Needs

Siemens economic growth in the market has developed the demand for resolutions within areas of power generation and transmission, healthcare and sustainable urban an industrial infrastructures. Siemens has expanded its growth engines of the global economy. Siemens plans to motivate growth in Brazil, China (BRIC), India, Russia, and Middle East. Siemens also cover countries such as Chile, Mexico, Indonesia, Poland, Colombia, South Africa, Vietnam, Turkey, and Thailand.

The healthcare sectors and energy offers the petition within the emerging markets. In Chinese, the government would like to improve the healthcare system. India wants to expand with an additional 200 gigawatts into its power grid to meet energy needs. Russia has also invested to expand the network, by 2020 (WiseGeek, 2014).

Market Growth

The market strategy of market segmentation involves dividing a board target market into sunset of customers who have the common need and applications for relevant services and goods. Depending on the specific characteristics of the product, the subset can be divided up by criteria. Market segmentation assist companies to better understand the needs of specific customer base. Playing the role in developing a new market approach will help company find ways to gain customers loyalty with existing clients (Siemens, 2014).

SWOT Analysis

Strengths · Siemens has a strong presence in both global and domestic industries and the HMI can easily be used in the customer service market. · Siemens is well established and has the strong consumer base and familiarity for designing the HMI	Weaknesses · The HMI is extremely expensive to create and launch into the market. · There is a major concern that some customers will not be readily willing to use or may not be technologically advanced enough to use the HMI.
Opportunities · Siemens will become the first company to break ground in this type of industry. · The product might be more successful in a launch in Asia where technology and new products may be received better.	Threats · HMI is a new market and other companies might be working on the same ideas. · Competition could be tough in the technology industry.

Potential Competition

Siemens has created a number of HMI prototypes that are geared towards meeting customer or consumer needs in markets ranging from the Corporate Business Environment to the Healthcare environment also. Hoover, Microsoft, Samsung, GE Electric, Koninlijke Philips Electronics, and ABB Inc. ("Hoovers: A D&B Company", 2014) are all potential competition for creating similar products like the HMI to reach a market to cover the customer service base. Newcomers to the market might also be able to offer a product at a lower rate than Siemens can. Brand preference could decrease customers choosing Siemens in international areas. Siemens is not as well-known as Microsoft, Samsung or GE Electric. The best approach for Siemens to take will be to distinguish their HMI product from others launching at the same time frame.

Product Offering and Product Definition

Human Machine Interface (HMI) is where a machine and a human interact. This provides a graphic-based visual of the control and monitor system along with real-time report. It enhances the manufacturing industries’ ability to perform daily task and operations while increase productivity by having the centralized control location. This capability allows the line to continue to operate in case an error occurs. This product can be useful both domestically and internationally. Looking from a financial aspect, HMI can reduce the cost and time by controlling the machines on the line.

HMI are user-friendly systems built with a variety of colors, pictures, and maps. It can reduce manufacturing cost that potentially can increases profit margins and lower the production cost. It is capable to handling simple and complex tasks. This product offers functionality and flexibility to control functions of the production line managed at a centralized locations.

Product Identification

Human Machine Interface (HMI) will reduce cost and time by having everything centrally located. This saves time allowing a centralized system for the entire production line. HMI provides feedbacks on how each machine is functioning throughout the process. It oversees the entire production line’s ability to produce and output parts. Compared to a Programmable Logic Controller, HMI is user-friendly. It can be set to both auto and manual mode. The product offers flexibility that makes production processes smoother.

Domestically, HMI will eliminate the cost of hiring and training new employees to operate several controllers throughout the plant. This product has a centralized control and monitoring system. Internationally, HMI will eliminate hiring bilingual and skilled employees who understand the language and culture to operate different controllers.

Justification for your choice of Product

Human interface machine (HMI) has become a very important part of our daily lives. It varies from the control panel of the world’s biggest nuclear power plant to the touch screen and input buttons of a cell phone. We pick this product because almost all humans interact with a HMI daily. Some of the examples of this interface is keyboard, mouse, touch screen, joysticks, switches and so on. Some of them are easy and user-friendly and some are not. Designing such interface is a very challenging and difficult task. This technology keeps improving. Designers have developed interfaces which can be controlled by hand gestures (without touching), and voice controlled. We see examples of this in the Xbox Kinect. Current designs of HMI can be controlled by mind. Examples of this are seen with stroke patients and other people with severe body communication restraints.

Survey

Some of the questions a business can ask potential or current buyers are listed below:

1. What is your age?

2. Who in your household makes buying decisions?

3. What do you like most about this product?

4. What changes will you most improve about this product?

5. What do you like most about competing products available from other companies?

6. How would you likely recommend this product to others?

7. If you are not likely to use this product, what will be the reason?

8. What features do you look for when you buy products?

9. Overall, are you satisfied with your experience using this product?

10. How important is price over quality when you are choosing a product to buy?

Conclusion

As a big leading edge of innovation productivity and solutions, Siemens Corporation pursues active and productive portfolio within markets. According to "Siemens In The USA" (2014), " Siemens is able to access the world's largest capital market; especially since the listing in the United States enables many US investment funds to invest in Siemens stock for the first time” (2). Creating a new product launch marketing plan made a different perspective in approaching and justifying the quality by providing a SWOT Analysis, as creating an efficient management excellence within markets.

References

Hoovers: a D&B Company. (2014). Retrieved from http://www.hoovers.com/companyinformation/cs/competition.Siemens_Corporation.d0194abb63766b2a.html

Siemens in the USA. (2014). Retrieved from

http://www.usa.siemens.com/en/about_us.htm

WiseGeek (2014) What is Market Segmentation. Retrieved from

http://www.wisegeek.org/what-is-market-segmentation.htm

Siemens (2014) Siemens to expand market share in emerging markets. Retrieved from

http://www.siemens.com/press/en/pressrelease/2011/corporate_communication/axx20110669.htm