OtherPapers.com - Other Term Papers and Free Essays
Search

Marketing Plans for New Products

Essay by   •  July 18, 2011  •  Case Study  •  2,286 Words (10 Pages)  •  2,197 Views

Essay Preview: Marketing Plans for New Products

Report this essay
Page 1 of 10

Marketing Objectives

The marketing objective of ERRM Innovative Technology is to be established as an expert in the industry providing ECO-Friendly products, helping and educating companies along the way to save money and the environment at the same time.

Our product 'REP v.1' is ready to be marketed into the government and corporate sectors now and ERRM Innovative Technology believes that 'REP v.1' has to be the very first of its kind to be launched. In order to achieve this objective, ERRM Innovative Technology has to showcase 'REP v.1' to be effective in recycling all types of the commonly used A4 size paper and highlighting great cost savings and social responsibilities as key points to achieving the marketing objectives.

Objective 1: Use of 'REP v.1' in at least 2 government ministry by December 2010

In order to relay the ECO-Friendly message to the public and end users, there is no better place to start than with government sector. The usage of 'REP v.1' in government offices will pass a very strong intent and message to corporate to follow suit and go the ECO-Friendly path. In con-junction with selling the product to the government, ERRM can make use of the good opportunity to tie up with ministries like Ministry Of Environment; collaboration with the government will only increase the company and products credibility, in turn giving consumer confidence. ERRM can also tag on with 'The Singapore Green Plan 2012' (refer to reference Annex A), an initiative by MEWR 'Ministry Of The Environment and Water Resources', to reach to more multi-national companies in Singapore.

Objective 2: Use of 'REP v.1' in 1 market leader in 5 different industries by June 2011

In a small and competitive market like Singapore, competitors in the same industries will always be checking out how well each other is doing in turn of profits and how they achieved their profits. If a market leader is to use 'REP v.1' and accumulated huge cost savings then their competitors are bound to follow suit. The 5 industries to begin with will be Banking, FMCG, Construction, Telecommunications and Transportations.

Objective 3: 5 major ERRM clients in South-East Asia by December 2011

Having Singapore's help in building the brand and product's reputation in the ECO-Friendly market, exploring into neighbouring foreign markets is the final objective in this one year marketing plan. The aim is to secure and expand distribution in strategic and geographic areas in the whole of South East Asia.

Situation Analysis

Industry Analysis

Trends

When the whole world is passing the word around to save the earth, more and more companies are answering the call to go green and fulfill their social responsibility to the environment. Good examples commonly known locally are car companies that started to distribute and sell ECO-Friendly hybrid cars that run on battery and fuel together, thus reducing the usage and need for fuel for such hybrid cars. Whereas in the United States of America, ten ECO-Friendly companies have been listed in Newsweek for going the ECO-Friendly path to save the environment (refer to reference web page http://www.newsweek.com/id/51211/page/1) Companies like 'Seattle Biodiesel' specialize in making alternative fuels derived from vegetable oil and 'Vestas Wind Systems' harness the power from wind by using wind mills to generate electricity. ERRM's very own 'REP v.1' plans to penetrate the market and join in the ECO-Friendly family.

Customer Profile

Paper has been a part and parcel of our everyday business ever since its invention. Every industry has its need for paper to cater to different needs like schools need paper for assignments, projects, textbooks, consent forms, corporate and government sectors need it for filing and record purposes, communication materials, agreements, notices, etc. The more detailed an entity is the more paper is required. The paper business has been booming and prices have been soaring due to the limited source for it. Basically paper is seldom reused for the same purpose and almost always ends up in the waste bin or the shredder for more classified documents. It is an ever present whenever an entity does budgeting for their financial year. Although there are always plans to reduce wastage of paper every now and then, there is almost no way or a technology that can promise at least 50% reduction.

Technology

Coming up with 'REP v.1' took up almost 2 years of research by in house professionals, bearing in mind that the purpose of creating this product is mainly because of nature conservation and social responsibility, we have chosen laser technology instead of ink-dissolving fluid because it causes more waste at the end of the day. This laser technology also does not require end users to do any maintenance unlike using ink-dissolving fluid which requires end users to top up or to change the ink cartridges.

SWOT Analysis

The following is an illustration of the strengths, weakness, opportunities and threat that ERRM Innovative Technology and 'REP v.1' have and facing.

Strengths

* A driven and creative founder - Eddie Lam has the financially backing and social responsibility to kick start the research team for 'REP v.1', resulting in this end product raring to enter the market.

* Well communicated and organized advisory council and research team.

* Driven and reliable sales team led by an experienced sales manager.

* A hardworking marketing team, underlining the strengths of 'REP v.1', bringing huge cost savings and urging consumers to be part of the team to conserve the earth.

* DIY, easy to use product.

* Support from the government sectors like Ministry Of Environment.

Weakness

* Lack of expertise to further develop 'REP v.1'

* High overheads like researching, manufacturing, transportation cost, resulting in a premium wholesale price.

* Lack of training for sales officers from the sales team.

* An incomplete product support team.

Opportunities

...

...

Download as:   txt (13.9 Kb)   pdf (159.1 Kb)   docx (15.1 Kb)  
Continue for 9 more pages »
Only available on OtherPapers.com
Citation Generator

(2011, 07). Marketing Plans for New Products. OtherPapers.com. Retrieved 07, 2011, from https://www.otherpapers.com/essay/Marketing-Plans-for-New-Products/7302.html

"Marketing Plans for New Products" OtherPapers.com. 07 2011. 2011. 07 2011 <https://www.otherpapers.com/essay/Marketing-Plans-for-New-Products/7302.html>.

"Marketing Plans for New Products." OtherPapers.com. OtherPapers.com, 07 2011. Web. 07 2011. <https://www.otherpapers.com/essay/Marketing-Plans-for-New-Products/7302.html>.

"Marketing Plans for New Products." OtherPapers.com. 07, 2011. Accessed 07, 2011. https://www.otherpapers.com/essay/Marketing-Plans-for-New-Products/7302.html.