Discuss about the Marketing Plan for Contemporary Strategy Analysis.
3M Australia has once again come up with a new scientific gadget much taking care with their tagline “Science…is just science. Until you make it improve the world.” (3m.com.au. 2016), an Air Filter, 220V Jupiter powered. The product comes up with some exclusive facilities that can protect or caution the users even in high-contaminated areas. However, to re-launch the unit among the people it is very important to take up a detailed analysis of the market long with the facilities and the weaknesses of the products. The following plan observes and analyses several aspects of the product to re-launch it with sufficient marketing and a detailed analysis to keep up with the queries and demands of the customers.
| Strength:
· The greatest strength of the product that the company must hit to attract the attention of the customers is its lightweight, exclusive facilities and securities in contaminated areas. · The design and alarm (both visual and audible) points towards the low battery or low airflow for the users to take up alternative arrangements. · The weight allows the users to move the product freely anywhere. · 3M Australia itself stands as a reputed and trusted corporation in terms of scientific gadgets and technological factors. That will act to be an additional benefit to put the trust of the target market on the product. |
Weakness:
· Only weakness the product might suffer is the lack of auto clean facility, a common phenomenon in Air Filter segment and the concerned product is no exception. · It is obvious that the owners, corporations and the household established in contaminated areas (industrial waste, dust, vapor, fumes etc) will prefer an automatic product for it might be monotonous for them to clean the Filter frequently. · Through the product provides ample facilities, the manual cleaning system will cause discomfort in them that might result in avoiding the product. |
| Opportunities:
· If the problems are solved, the product will have a vast exposure of opportunities in front of it. · Undoubtedly, the Filter unit runs in it variety of facilities much progressed from the other existing products in the market. · It can be greatly acceptable to the corporations, owners and domestic purposes which deal with contamination everyday especially for the offices and household established in the contaminated areas. · The women especially housewives might serve to be great opportunities for the product as the demand of the product is huge mainly in the domestic (household) sphere. |
Threats:
· The already existing air Filters can be threatening in the acquiring of the market of a new product. · Already there are companies like InovaAir, Air Cleaners Australia, the Australian Market has already a variety of air respirator masks with different powered units. · Examples include EnvironAir 300, Blueair 650E etc. · A new product might not be well accepted. The marketing plan will be important therefore to create the faith and a hold on the market. |
The primary and most important target of the product will be to take up at least 40% of the market in the next 2 years. For the initial result the plan focuses to get a considerable (30-35%) hold of the market within the next 12 months and generate a revenue of minimum 10-15% of the expenses in the Home Market.
Product:
3M Australia is a well-known and reputed corporation, famous for their technological progress and gadgets. The concerned product is an Air Filter, Jupiter powered 220V. The filtering Unit comes up with gas and air filter, thus it provides the user respiratory protection against contaminations especially to the allergy and asthma patients, and the lightweight provides the user the freedom of movement. The filter cover prevents damages and the particles from entering into the filter to mention a few. The product might serve to be a big thing in the segment of filter gadgets. Only the issue of the manual cleaning system will need a keen attention of the production team.
To choose a promotional plan for the product to re-launch it is first important to choose a class or group to be targeted as the primary base to get hold of the market. For the Air Filter Unit, the primary base to be targeted can be the houses especially those who are exposed regularly in the contaminated of industrial air and the owners of the several corporations releasing contaminated wastes. The promotion will be two fold. First teams must take individual interviews and surveys to understand the requirements and the needs that still exist among the people especially housewives regarding their respirator masks. For in the market there has already been multiple Air Filter Units, the marketing team must find the gap in the needs and provides to establish the importance of the product. The reviews will help in attracting the concerned market towards the product (Wilson and Gilligan 2012).
Moreover, some products can be provided to some selected corporations and households inviting to test them before launch. It will be hitting on the demands they have revealed in their opinions. The ladies can be subjected to a mock season for testing the filtering process of the Unit. This will implement the idea that the product uses no Ozone Oxidation,. The brand name 3M Australia will be helpful in this matter to draw the faith (Grant 2016). Advertisements in the online sites as an upcoming product will be helpful to evoke the interest of the targets.
Since the product mainly concerns with the household and personal purposes and already has threats of competition from the other products the price needs to be comparatively less than the other existing products. For the initial launch, discounts can be announced up to 20% and for the commercial filters up to 30% of discount can be marked. For the stores selling the product to encourage the selling a special commission amount will be helpful to increase the sell.
It will be important for the company to make the Home Market strong first for the product. Since 3M Australia has already established a strong hold in Australia and a trusted position, it will helpful for the product to first get a hold of the market on Australia itself. Especially the residential and metal processing areas of Brisbane, Perth, Sydney, and Adelaide must be kept in focus for the distribution of the products in stores. Managers for the commercial filters and ladies for the home air purifiers from the residential areas of Perth, Sydney and Brisbane can be invited to test the product before re-launching. The e-commerce sites as well as the official online commercial site of 3M Australia will be helpful in distributing the product.
Conclusion:
However, it is thus important that the marketing plan must be implemented properly to get a hold of the primary market for the product. The plans need to be applicable as soon as possible, especially the surveys must start soon for on them depends a huge portion of the marketing plan. If followed properly as the theoretical calculations reveals within the 2 years span the product (Jupiter Air filter Unit) will reach its targeted position to cover the 50% of the primary market leading them to be the most preferred product of the segment.
Reference:
“The Threats To Outdoor Air Quality – US Air Purifiers”. US Air Purifiers. N.p., 2014. Web. 13 Sept. 2016.
3m.com.au. (2016). 3M Science. Applied to Life. | 3M Australia. [online] Available at: https://www.3m.com.au/3M/en_AU/company-au [Accessed 13 Sep. 2016].
Au.msasafety.com. (2016). Supplied Air Respirators (SCBA) | MSA – The Safety Company | Australia. [online] Available at: https://au.msasafety.com/Supplied-Air-Respirators-(SCBA)/c/117?isLanding=true [Accessed 13 Sep. 2016].
board, california. “Hazardous Ozone-Generating “Air Purifiers””. Arb.ca.gov. N.p., 2016. Web. 13 Sept. 2016.
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer New York.
Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015.Marketing. Pearson Higher Education AU.
Wilson, R.M. and Gilligan, C., 2012. Strategic marketing management. Routledge.
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