speaker notes- marketing plan
ahmd54
marketing_presentation_nojack.pptMarketing Plan for NOJACK Tracking Company for marketing their Car Tracking Device
Brief Overview
- NOJACK Tracking Company seeks to establish an effective comprehensive marketing plan in order to achieve a greater market share of their new car tracking device.
- The existing market has many competitors such as ford, Starcom, Teletrack, Matrix, and Toyota Corp who may have already established brand royalty for their products.
- Therefore, NOJACK Tracking Company will in order to develop an effective market share to counteract completion:
Conduct a SWOT analysis to determine its strengths and weaknesses
State and elaborate its mission, objectives, goals and,
Specify its marketing strategies for the Car Tracking Device,
Lio Company’s SWOT Analysis
The SWOT analysis will involve determining the NOJACK Company’s internal strengths and weaknesses and external opportunities and threats. The company will then determine optimum marketing strategies based on the results of the SWOT analysis.
1. Internal strengths
NOJACK Company has the following internal strengths that will guarantee it future success
Adequate product mix
Higher level of transparency
NOJACK Company’s SWOT Analysis Cont’d..
Diversified production
Strong partnership between company management and traffic regulators
Established brand royalty of the existing products
Rapid actions due to availability of a rapid response system
NOJACK Company’s SWOT Analysis Cont’d..
2. Internal Weaknesses
NOJACK Company however has the following internal weaknesses that may negatively affect acceptance of the car tacking device.
The device is expensive due to the higher costs of production
The tracking process is costly and may not be affordable by may customers
The device has many competitors
NOJACK Company’s SWOT Analysis Cont’d..
Being a complementary product, acceptance of the device depends on adoption of other products
Refusal of the police to corporate in the tracking process affects effectiveness of the tracking device
NOJACK Company’s SWOT Analysis Cont’d..
External opportunities
Acceptance of the tracking on the market, which is currently competitive also depends on the external opportunities as outlined below.
most customers complain of the ineffectiveness of the existing car tracking devices
Existence car tracking systems are costly and expensive
Higher prevalence of the theft of vehicles and other automobiles in the recent past
NOJACK Company’s SWOT Analysis Cont’d..
External opportunities….
Competitors use obsolete technology to design their anti-theft devices
Government has offered incentives and subsidies for the companies willing to venture into the tracking industry to curb automobile theft cases.
NOJACK Company’s SWOT Analysis Cont’d..
External threats.
The following threats inherent in the external environment greatly affects Lio Company’s Market share of its car tracking device.
The tracking industry is competitive since many companies produce car tracking devices
Expensive nature of the tracking device may scare away prospective customers
Design and development of the device requires advances technology
Government’s initiative to offer subsidies may attract more competitors in the tracking industry,
Objectives of the NOJACK Company introducing car tracking device
The operations of Lio Tracking Company have usually involved the design and production car, paints, police wear, insurance policies and other car accessories until recently when it decided to design car tracking devices and venture into the tacking business with the following objectives.
Diversify production to generate more revenues
Minimize cases of accidents resulting from careless driving using GPS data information cell center.
Objectives of the NOJACK Company introducing a car tracking device
Offer an effective tracking and anti-theft system that will prevent the current cases of car loss
Prevent unnecessary delays in fleet sales through track monitoring.
Produce product at the lowest cost possible to avoid over pricing
Use proper strategies to maintain the car shape and initial conditions
Prevent unnecessary losses in fleet businesses by voice directing the drivers on right turns and mapping interface
Produce quality tracking devices using advanced technology
Target Market for the Lio Company
- NOJACK Tracking Company realized a marketing opportunity in the car tracking industry and its move to design and produce car tracking devices targets various customers including:
Private car owners
owners of public vehicles and,
Government agencies including police vehicles.
However, the market is limited to capitalisms and middle-class individuals since majority of people in the country do not own vehicles due to economic and financial instabilities.
Target Market for the NOJACK Company
NOJACK Company’s strategies to increase its limited market include:
Market segmentation
Extending the markets to global regions through e-business
Modifying the devices to suite smaller automobiles such as motorcycles to attract small automobile owners.
Increasing online marketing to reduce the size of workforce, costs of production and consequently lower the prices of the tracking devices.
Marketing strategies
- NOJACK company will establish effective marketing strategies to improve their product awareness among potential customers. the company will however adopt the use of a marketing with the least cost to avoid passing the higher to the end consumers.
- NOJACK Tracking Company will therefore use the following strategies and methods to promote the market outreach of the car tracking device.
Advertisement through broadcast and print media
Online advertisement campaigns
Using tradeshows, premiums, samples and sales force to promote the awareness of its tracking devices.
