The main purpose of this assessment is to develop an effective market plan for the business of D&R Technologies which is engaged in the business of providing gas detection system and lighting systems in businesses. The main product of the business is to provide businesses with safety equipment which would protect the employees from a situation of Gas leak. In addition to this, the instalment of the gas detection system in a business would allow the business to effectively reduce the consumption of electricity in the business (Sadgrove, 2016). The assessment aims to evaluate the marketing plan of D&R Technologies and the impact of the same on consumers and also assess the viability of the plan which is developed by the management of the business. The marketing plan for D&R Technologies is to be developed considering which market segment does the business wants to target and also identify what are the obstacles which can affect the sales of the product which is offered by the business (Schmidt & Cohen, 2013). The marketing plan of the business aims to overcome the obstacles relating to the sales of the product. The marketing plan of D&R Technologies aims to properly market the products which is offered by the business and thereby also maximize the sales of the business (Bostan, 2013). The assessment would be concluding by commenting on the financial viability of the plan which the management wants to incorporate in business operations.
The product which is offered by D&R Technologies is related to gas detection system and lighting system. The major benefit of the product which is produced by the business is to detect gases leak which are hazardous to human life and also protect workers and visitors from such gases. In addition to this, such systems are also prescribed by the rules which are established by municipality rules and therefore installing such a system allows the business to effectively follow the regulations of municipality (Ambeth, 2016). The most important benefit which is associated with the use of the product is that it enables business to reduce the energy costs of the business. The core business operation of the business of D&R Technologies sis to save energy by efficient utilization of resources of the business. The major benefit which is related to D&R Technologies is that the product of the business can help out in saving energy and costs of a business. The option for installing a gas detection system is a much cheaper option than a fan. The gas detection technology also has fan but the same activates when there are some gases in the air. Thereby, it automatically responds to threats and also saves energy (Lupu et al., 2014). Thus, it can be said that Gas detection system is more energy efficient and is a means to achieve sustainable development in the business. The installation of the system is also prescribed by municipal corporation as it is a standard protective and health measures which can be taken by businesses which are engaged in work in boilers, garage, close industrial room.
The major benefits of the company are that the business provides support to other companies relating to environmental concerns and also helps to set up an environment which is suitable for the workers. The company also is engaged in innovative practices which allows the business to develop better technologies for companies engaged in production of safety equipment.
The gas detection system which is mainly provided by the business of D&R Technologies have numerous benefits in a business organization. The benefits of the system are very much useful for business in the process of saving energy and also keeping up with the code of laws established by municipal corporation. The system also has an impact on the costs of the business as the same tends to reduce the costs which are incurred by the business. However, there are also some difficulties or obstacles which affect implementation process of the system. The obstacles which can be identified are listed below in details:
In order to target the customer an examination of the Canadian market trend has been conducted. Gas Detection and Lightning Systems carbon reducing products targets property managers, operators of parking garage and hotel managers (Armstrong et al., 2015). The market of carbon mono-oxide detectors has grown significantly during the recent years and Gas Detection and Lightning Systems anticipates to capture a quarter of the market that has the capacity of producing multi-billion dollar revenue. The market is also favorable as the emphasis has now shifted from growth and development principle to sustainable development of the business which involves safety and security of the employee and customers of the business. This is the main reason that the demand for such security system in such a business has increased significantly in recent times.
The market growth is fuelled by carbon conscious customers and reducing the degree of air pollution as the options for chemicals are diminishing. During the year 2000 the federal environmental production committee came to an agreement of reducing the carbon presence in the atmosphere so that the problems related to health can be curbed. In addition to this, there are also implication of such carbon and other gases emissions on the society and even on the health of the employees which are working with the organization.
With the respect to the research conducted by the managers of Gas Detection and Lightning Systems the carbon mono-oxide reducing products continuous attract the attention of property managers, operators of parking garage and hotel managers as their use is bound to increase. The target marketing strategy of Gas Detection and Lightning Systems has been obtained against the economic and energy efficiency scenario. The target market of the business would be any business which is involved in production which results in emission of gases such as furnaces, boilers and industrial centers (Bly, 2015). With the eminence on safety standards in a business, the target markets of the business are easily identifiable and available for the business. The carbon mono-oxide reducing detectors among the targeted set of customers is mainly driven by the reduction in the use of energy and how the consumers consume the energy.
The products and services of Gas Detection and Lightning Systems are designed in a manner that energy efficient savings are attained for its targeted customers that purchase these products. The products and services of Gas Detection and Lightning Systems mainly comprises of the gas detection system and energy conservation equipment’s. Gas Detection and Lightning Systems creates, markets and sells the low cost energy efficient gas detectors in an attempt to see reduction in carbon emission (Martinovich, 2013). The detector would include the small programmable external device that would instantaneously detect the carbon mono-oxide inside the three meters of real time (Wiatrowski, 2013). For Gas Detection and Lightning Systems this would act as the invaluable tool for the law enforcement agencies to curb down the level of carbon mono-oxide content in the air. The detector would be comparably much faster than the other technologies that are present or available in the market to the end users. Greater amount of efforts are needed for reducing the emission for the new building business (Samimi et al., 2015). The management of D&R Technologies would be aiming to offer to its clients the best systems available which are costs effective as well as energy efficient so that the businesses are able to effectively maintain the costs of the business. In addition to this, the management of D&R Technologies are further engaged in further technological advancements in order to ensure that the products which are offered by the business are of superior technology and it is anticipated that the same would provide a competitive edge to the business of D&R Technologies and provide them with competitive advantage over their potential competitors in the market.
At D&R Technologies, the business would be developing non-profit centres for its value added customers with the services relating to the use of products. D&R Technologies would organize the training classes, seminars, on-site programming lessons, personal labelling for its channel market resellers with additional ancillary services schemes depending upon the individual client requirements. In addition to this, the management of D&R Technologies also provides warranty for the products which are offered by the business and also provides replacement of the product in case the system is faulty (Sadeghi, Bahrami & Fatemi, 2014). The business also provides scrutiny of the system which is offered by the company at regular intervals so that the product is efficiently maintained. This is additional customer services which is offered by the business of D&R Technologies. The business also offers replacement of the sensors on an interval of 6 months which maintains the effectiveness of the system.
The Gas Detection and Lightning Systems would primarily target the Canadian market. The target trading area of Canada would enable the company in marketing its efforts strategically so that it can succeed in the Canadian market. Being the start-up company, the owners of Gas Detection and Lightning Systems believes that the consumer market and channel sales would provide the business with the quickest launch and would also help in penetrating into the market and simultaneously generating revenues to sustain the company’s growth and expansion into the other markets of Canada (De Cieri et al., 2015). The business market would most probably the next key trading area were Gas Detection and Lightning Systems aims to promote its products as the marketable business tool to manage both outside and inside the fleet of logistics and costs.
The below listed are the criteria that are acceptable for Gas Detection and Lightning Systems to recognize the valid and dependable market segment strategy. To make a favourable market segment strategy the following are considered;
For D&R Technologies the strategy and application summary for the gas detection system as well as lighting system is listed below;
Differentiating the products from its customers: Under this strategy, D&R Technologies would aim to differentiate its product from its competitors as its gas detector possess more capabilities and it is easy to use (Kash & Deshmukh, 2013). This strategy would help in concealing and work with most equipment providers. The business aims to establish its products as highly cost effective with viable solutions for its target markets.
Building business oriented relationships: For the clients of D&R Technologies namely the market resellers and institutional consumers like property managers, operators of parking garage and hotel managers. D&R Technologies would become the income producing partners for them and not just the vendor (Aghdaie, Zolfani & Zavadskas, 2013). This would ultimately help in making the carbon detector segments more increasingly receptive to its offerings (Morrison, 2013). The business would aim to convey the possible monetary value of the relationship along with the intrinsic value to provide its target customers with the end user devices.
Fulfilling the promise: D&R Technologies cannot simply market and sell its products. Instead it aims to support and eventually deliver according to the needs of the consumer. D&R Technologies assures that it possess sufficient technological knowledge while simultaneously keeping up with the ever changing technologies to advance with the capabilities of its new products and services.
|
Advertising |
$10,000 |
$11,500 |
$12,650 |
|
Insurance |
$2,500 |
$2,875 |
$3,163 |
|
Interest Expense |
$1,500 |
$1,725 |
$1,898 |
|
Payroll Expenses |
$12,500 |
$14,375 |
$15,813 |
|
Research and Development |
$3,500 |
$4,025 |
$4,428 |
The marketing budget which is prepared by the management of D&R Technologies considers the three major market segments which the business is targeting and the same is shown to be Property managers, parking garage operators and hotel managers. The table also provides the expenses which the management needs to incur for the purpose of promoting the business and the product which is offered by the business. The expenses which are shown in the above table contains different business and the costs which are incurred are shown to be different in the budget due to different requirement of different market segments.
Conclusion
As per the discussion which is conducted in the above paragraph, it can be said that the business of D&R Technologies should move forward with the venture as the same is seen to be profitable in nature and the overall demand in the market is also appropriate for the same. The emphasis on safety measures for employees are also important aspects which is the reason for the increase in the demand for the products which is offered by D&R Technologies. The above discussion makes it clear that the business proposition which is offered by the management of the business is viable and the business of D&R Technologies should focus on further expanding the business and product of the business. The management of company needs to formulate a proper business plan with the help of which the sales and profitability of the business can be further enhanced.
Reference
Aghdaie, M. H., Zolfani, S. H., & Zavadskas, E. K. (2013). Market segment evaluation and selection based on application of fuzzy AHP and COPRAS-G methods. Journal of Business Economics and Management, 14(1), 213-233.
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Bly, R. W. (2015). The Marketing Plan Handbook: Develop Big-Picture Marketing Plans for Pennies on the Dollar. Entrepreneur Press.
Bostan, I. (2013). Harmonisation of standards related to limiting chemical risk associated with work processes. Annals of Agricultural and Environmental Medicine, 20(3).
De Cieri, H., Shea, T., Cooper, B., Sheehan, C., & Donohue, R. (2015). Early indicators of workplace injuries and accidents: An analysis of leading indicators as predictors of workplace OHS outcomes in Australian workplaces: Institute for Safety. Compensation, and Recovery Research.
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Lupu, L., Ghicioi, E., Jurca, A., & P?un, F. (2014). ENSURING SECURITY AND ENVIRONMENTAL SAFETY AT BLASTING WORKPLACES. Environmental Engineering & Management Journal (EEMJ), 13(6).
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Sadeghi, F., Bahrami, A., & Fatemi, F. (2014). The effects of prioritize inspections on occupational health hazards control in workplaces in Iran. Journal of research in health sciences, 14(4), 282-286.
Sadgrove, K. (2016). The complete guide to business risk management. Routledge.
Samimi, E., Shahosseini, M. A., Abasaltian, A., & Shafaghi, S. (2015). Identifying and prioritizing critical success factors (CSFs) in retaining and developing knowledge workers in oil and gas project-based companies. Indian Journal of Science and Technology, 8(11).
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