Relating to IT & marketing Lockitron
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BYQAZI JAWAD KHALID,
UZAIR RAZA,TAYYBA AYOOB &
SANA NASIR
Lock your worries!
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Sequence
Introduction
Features & Specifications
Company Analysis
Competitor Analysis
Customer Analysis
Multiple Segmentation
Environmental Analysis
Marketing Strategies
Marketing Mix
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Intoduction Lockitron is an innovative product.
Lockitron is a smart door lock.
Keyless entry using your
Smartphone.
Unlock and lock your door
from anywhere in the world.
Access with your family
and friends
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Information
Product : Lockitron
Manufacturer: Apigy Inc.
Introductory price: Original Backers; USD 149Pre-orders; USD 179
Power: 4AA Batteries, last for 6 months
Connectivity: Wi-Fi, Bluetooth 4.0 Low Energy
CEO and co-founder : Cameron Robertson
Website: www.lockitron.com
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Working of lockitron
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Features & Specifications
Accessible by any phone
Easy grant access to anybody
Wi-Fi and Bluetooth
Easily Customizable
Easy installation
Key less entry
Good Battery
Doorbot
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Company Analysis
Long term goals
To gain market share
Technology enhancement
Supreme customer service
To increase target market
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Short term goals
Intensive advertisements( TV ads, bill boards, brochures)
Augmented products( 7 days feedback)
Free fixation
Penetrating Price
Company Analysis
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Competitor Analysis(SWOT)
SWOT
• Strengths:• Penetrating price.• Distinct Features.(Power save)• No competitor in Pakistan. • Brand Awareness(Created
through intensive advertising)
• Weakness:• Battery life.(If your battery’s
down you will face a problem)
• Prices and Features.(keep eye on competitors otherwise they will take our market share)
• Opportunities:• First mover advantage• Brand Awareness• Power save.(A feature that
can be our opportunity to grasp market share)
•
• Threats:• New competitors.
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Customer Analysis
Value drivers
Price sensitivity
Quality
Convenience
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Multiple segmentation
Geographic
F-10, F-8, G-6, F-7, G-5, E-6, E-7, E-11
Demographic
(18+)
Income more than 90,000 Rs.
Psychographic
Life style
Target Market
Rich, Upper middle and middle class
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Environmental Analysis
Demographic Environment
Changing joint family system in Pakistan to separate.
In Pakistan, the share of women in non-agricultural wage employment has been set at 14 percent.
Growing rich and
upper middle class
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Environmental Analysis
Technological Environment
35% of the Smartphone users in Pakistan.
Recently 3G was introduced in Pakistan and the Smartphone
market is rapidly
expanding.
Internet usage
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Environmental Analysis
Socio-Political Environment
More than 55,668 robbery cases (NCMC report 2013)
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Marketing Strategies
NICHE MARKETING
Limited geographical area help in making complete focus and maximize our profit.
Un differentiated marketing leads to product failure at introduction stage as quality is compromised to target to masses
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Marketing Mix ProductBrand Name: Lockitron
Packaging:
Warranty: 1 year
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Price
Customer price USD 179
Retail Price 10% mark up of USD 179= USD 18
Mark up value will be increase by 12% for Retailer who meet the target of selling 1000 units in month.
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Place
Retailer distribution channel
Financial stability of distributor
Technological capabilities
Sales and marketing capabilities
Company use both
consumer market channel
Business market channel
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Promotion
Consumer Promotion (Television, Internet, Newspaper, social media)
Standard Test Marketing in Centaurus
Business Promotion
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Approximate Budget
Initially company will use push strategy
10% of markup will be given to retailer i.e.
No of lock sold Revenue Retailer Markup
100 (1st Month) 16,100$ 1800$
250 (2nd Month) 40,000$ 4500$
500 (3rd Month) 80,500$ 9000$
Revenue Expenses Profit/Loss
16,100$ 65,000 (48,900$)
40,000$ 50,000 (10,000$)
80,500$ 25,000 55,500$
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Cost By Promotional Program
Promotion Cost
Banners and Brochures 12900$
Newspaper ad 8100$
TV ad 5000$
Standard Test Marketing 125000Total 38500$
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BIBLIOGRAPHY
http://en.wikipedia.org/wiki/Economy_of_Pakistan
http://finance.gov.pk/survey/chapters_14/12_Population.pdf
http://en.wikipedia.org/wiki/lockitron.com