3-5 min Video

Marketing Plan

Rosetta Jeje

Marketing Management

Dr. Linda Harris

August 1.2016

When developing applications it is important to ensure that the right market and the right location have been identified. In recent years Silicon Valley has been the sole source of successful technology firms but it is also important to note that Washington was the source of this inspiration. Connect P is an application that is used to connect people in Washington who have busy schedules to meet up and hence they have to create schedule and to also sync their schedules to find a day to meet up. Connect P synchronizes the schedules of the people who are using it and when one party is free the other is notified of this opening and they can bring their meeting forward if convenient to them. Connect P also respects the ethical rights and privacy issues of an individual as before a notifications to other members, the user has to authorize the notification and can restrict it to a certain person or group of people.

PESTLE analysis

When developing a PESTLE analysis it is important to consider various factors that will affect the business and the operations of an organization. This will influence various factor such as the scope of the product and the service that the product will be able to deliver and withhold.

The political factors when developing a social application such as Connect P are based in the freedoms that the prevailing government will support and to what extent t will affect the life of other people. This has seen certain social application companies throw their weight towards people who will not restrict and come up with punitive laws which will discourage the use of social media. Connect P will have to support the political party that respects the right of privacy of people but also does not put certain sanctions against social media applications.

The environment within which Connect P is going to be used is within a corporate business environment and this mean that they are going to be targeting the urban places where people are too busy and at times lack time to meet or arrange for meetings with each other. The environment will be a place where people can easily meet and have ideal meeting place or preprogrammed places where they users want to meet. This will help in choosing a place to meet and also in finding a place that suits both parties.

The technology levels that are required for this application to run are smart phones where one can store their schedules and have a program or application to sync their schedule with other.it will need to be an android or IOS operating system for the application to function. The technology levels do not hence require being too high but the company needs highly skilled IT personnel for the running and developing of the application and also to maintain its security. This raises the question of qualifications for the application to be secure and developed. (Bodnar, Cohen 2012)

The social status of the target population will be people who are in the middle income bracket and who want to remain in touch with their friends. The social part will also be summarized into the economic factors as trough targeting the middle income. The application will also be rolled out in various countries but using limited features especially in developing and under developed countries in order to cater for the operating costs.

The legal factors of the company and the product will be whether it will be invading the privacy of the user and how the information of the users will be secured and how it will be limited to certain parties. This will exclude government agencies and also other entities without the authorization of the user from accessing the user’s information and plans.

The company is launching a product that is already in existence but which doesn’t have the capability of sending notifications and also of syncing the schedules of different parties. The product will be competing with the regular tie table found on phones and also the case of social platforms where people can plan to meet and also communicate through. It will have to therefore be of high quality and also attract more users and show that it is essential as some social applications have become part and parcel of our livelihoods. (Bodnar, Cohen 2012)

The primary target of the product are the middle income group and also people in their youthful life as they are trying to make sure that they stay in touch with their friends and relatives even as they work. This will help in ensuring that the product is successful and it is used by more people. The secondary market will involve the young people who are still in school and also the old people who have started families and they want to stay in touch with their friends (Eagle 2013). The application can help in arranging for meetings with the people and through this it will be used by various people and all ages making it a success.

The 4 P

The 4 P mechanisms will deal with identifying the product and the places that it will be launched in and also mostly likely used being the urban areas. Having identified the place and the product the pricing mechanism will be based on the various brands and banquets that an individual will subscribe to. There will be an option for an individual to be able to make a schedule but not have access to others schedule though this they won’t be charged. For connection with another users schedule an individual will have to pay a certain premium either monthly or yearly. This will help in the generation of revenue. The promotion methods that will be used will be through the use of televised advertisements and also through the use of billboard and internet based advertisements. (Eagle 2013)

The 5 C

When developing a business, most of the startup capital will come from creditors and his leads to the 5 C analyzing of a business venture for its operation and financial needs and the prospect of a company borrowing and being given credit (Schultz 2013). When borrowing capital, it is important to evaluate the capacity to repay the credit and the loan. This will ensure that the business has willing investors and creditors and that it is the capacity to repay its debts.

The capital that one has personally invested in the business represents the risk that one is willing to make if a business ventures fails. For applications the risk will be high and the payoff will take longer than other business ventures. This will mean a high risk and the payoff will also be big. Collateral when securing finances are a good factor especially when starting the business or funding a project. Application firms have their collateral n the patents and the expertise of staff and this will affect the finances that they acquire.

Loans come with condition for specific tasks. This means that the funds secured will only be used for a specify task or project. Condition loans have a limit on what the company can do with the funds. The company and the board of directors should have irrefutable character and this will help in securing the finances that the organization needs form the lenders and the investors. This will also help in building the character of the organization in general.

The STP model is essential in targeting and entering into certain markets. Through the STP model it is possible to identify the market to target and the discrimination prices to use in segmenting the market and targeting the various market segments, this will help in positioning the product in the market place and make it attractive and affordable to various groups of people. (Eagle 2013)

SWOT analysis deals with the internal and external factors that business faces. It is important to analyze the strengths, weaknesses, opportunities and also the threats that a business faces.

Strength

It is mixture of two products which will make it easy to promote. This is also facilitated by the facts that other than help people meet; it will be a diary that will remind people of their obligations. The product is also being offered at the cost of one download experience which makes it cheap and popular to the users. The product is the first of its kind and it has the first mover advantage to take control and advantage of the market. (Morrison 2012)

Weaknesses

It relies on the ability and the urge of people to want to spend time together and also to make plans. The fact that some people might not want to share their schedules also occurs which means that the lesser people who share their schedules and timetable the fewer revenue that the organization is going to generate. (Morrison 2012)

Opportunities

The product has the opportunity to be used in a business setting to synchronize the time table of employees and the organization and it will be easier for people to exchange the days that they are working and the days that they are free. This will help employees in being able to be more flexible and less supervision.

Threats

The existence of schedules and also notifications when a schedule is about to occur poses a great threat and also competition for the company. The company has to develop incentives to attract clients. The product also faces threats from legal suits due to tie invasion of privacy. It is important to ensure clients are aware of their rights and also of what they are doing by sharing their schedules with other people.

Need analysis

Need analysis deals with the aspect of labor that the organizations require. This is through hiring, training and development of the staff. The company will need highly qualified engineers and technicians for the production and development of the application and also legal team to guide on the legal laws to follow especially due to the sensitive issue of privacy.

References

Bodnar, K., & Cohen, J. L. (2012). The B2B social media book: Become a marketing superstar by generating leads with blogging, Linkedln, Twitter, Facebook, e-mail, and more. Hoboken, NJ: Wiley.

Eagle, L. (2013). Social marketing. Harlow: Pearson.

Morrison, M. A. (2012). Using qualitative research in advertising: Strategies, techniques, and applications. Thousand Oaks, CA: SAGE.

Schultz, R. (2013). Creating good work: The world's leading social entrepreneurs show how to build a healthy economy. New York, NY: Palgrave Macmillan.