Target Market And Projection Marketing Essay

Target commercialise place And Projection Marketing EssayIkatan Sdn Bhd that provide technology metric will be offici eithery register and Headquarters is in Shah Alam, Selangor. Ikatan Sdn Bhd aims to be the most competitive and reliable caller-up in provide technology growth. Our stage business concept is fundamentally to provide technology devices that mainly focus on ultrasonic distance mea trustworthys.Besides that, we also provide run for the harvests especially for maintenance. Warranty for 1 category will be issued to the customer.To get to us, the customer can contact us directly to our office number, fax or by internet. Our customer dependables atomic number 18 ready to help you with accurate study.1.1.2 Product ConceptOur harvest-home is low cost, simple to use, heavy duty and environment warm. Once an modulate is confirmed, we will emit our staff to go over costumers place to deliver our product.All prices quoted atomic number 18 inclusive of relevant ta xes in Malaysia. The customer may pay some get of deposit before completing the payment. Transportation fees will be charge.Our product will base according to the customers land field of battle. Our product also can be adjusted to the customers information on how frequent they can measure the distance.1.1.3We chip in already classified our object securities industry which we think could bring a really juicy profit monthly. In our case, we had agreed to divide the target grungeet into some categories which are target customers and target places.For the target customer, we have three types of citizenry which are asseverator, university and retailer. For different type of people, there would be different rate of charge since we consciously consider their economic ability and stability.1.1.4 The Competitive AdvantagesAs detonate of the trade n business world, we cannot run and avoid from competitors. This is the challenge that we have to face. So in order to be constantly co mpetitive, we decided to innovate the flow rate availability of technology in measuring and making it for easier, user friendly, low cost and the most important thing is environmental friendly. Our product intelligent ashes will be developed by our question discussion section which uses up to date technology and easy maintenance. With that, we are sure that our company can fight with early(a) competitors at the highest level in technology.2.0 PRODUCT DESCRIPTIONA measuring tape is the common tool in measuring length and distance. However, the temper of the tool requires the user to pull out the tape according to the length that wanted to be measured. This can be problematic when the length is quite wide or when measuring height and difficult places. By replacing the tape with an ultrasonic pulse, the inconvenience can be overcome. Ultrasonic pulse greatly simplifies the impact of straight line measurement. This ultrasonic pulse give benefit to user who want to measure at di fficult place such as piece of ass the cabinet that the tape cannot reach or measuring the height of ceilingFigure 2.1 front view of Ultrasonic Distance MeasureFigure 2.2 panorama of Ultrasonic Distance Measure2.1 Product specificationAuto stop switches off if you do not press any key for 4 min.liquid crystal display screen on a luminous background.Memory allows you to measure and to store 3 different measuresCalculation of area and volume.Addition and Subtraction function allows you to sum or subtract 2 measures.Clearing of memory function allow you to delete quickly all the measures stored.Correction of errors the distance measurer indicates that a distance measured is either too long, or too short.Power supply 1 x 9V Alkaline type Battery (Not included)Units of Measure Feet/MetersAccuracy +/-0.5%Frequency 40 kHz (ultrasonic pickup)Range 0.91m to 20mDimensions (H-P-l) 142 x 73 x 47mmWeight (without battery) 144.6g3.0 TECHNOLOGY DESCRIPTIONUses ultrasonic wave(40kHz)Generated in a particular direction. If there is an prey in the path of this pulse, part or all of the pulse will be reflected back to the transmitter as anechoand can be detected by means of the receiver path.Bymeasuring the difference between the pulse being transmitted and the echo being received, it is possible to determinusine how cold away the object is.The input of the product is the time of conceiven for the ultrasonic pulse bounce back from an object.Uses LCD to display measurement.Have backlight for easy reading of the measurement food market RESEARCH AND ANALYSISMarket size is the estimation how big our market can be in our market area. In order to determine the market size in the area, we might have one of our staff to stand with a clip bill of fare and a sample menu in front of the space and engage pedestrians if they would frequent such an establishment. He will park himself on the corner one early morning and do the same at noon, evening and on a weekend to determine how m any customers we can expect on a daily basis. This also will be particularly important when cookery a budget. For every company, marketing plan is the most important part of the business.There are no uses of good reference product if the company fails to portion out the product maximally. The good marketing plan should study about the customer behavior, what the customers needs and wants, which are the potential demoralizeers and how to satisfy the customers.CustomerFor our business, we did some research for the targeting customers. We have classified our customers in some categories. They are contractors, university and retailer. Because of limited resources and competition in our market, we hesitant that we are able to sell our product with equal efficiency and services to the entire market. Therefore, before we decide which market to enter, we analyze the best potential buyers using market segmentation. We divided our market segmentation into three groups to offer our product with different market mixGroup 1 contractors.Group 2 university/collegeGroup 3 retailerA contractor is a group or individual that contracts with another organization or individual (the owner) for the construction, renovation or demolition of a building, road or other structure. A general contractor is defined as such if it is the signatory as the builder of the prime(a) construction contract for the catch.Contractors conducting work for government agencies are typically referred to as prime contractors. The responsibilities of a prime contractors working under a contract are essentially identical to those outlined above. So that why we target our market to contractor, so that we can get many benefit from them.Our secondary customer is university/college. A university is an institution of higher education and research, which grants academic degrees in a variety of subjects. A university is a corporation that provides both undergraduate education and postgraduate education. We targ et university because their student maybe will use electronic devices for the certain courses such as engineering, architecture and many more.Next costumer is retailer. For retailer, we will deliver our products at them and they will promote and display it at costumer like civilian, student and anyone who wants to buy it. Primarily, we have planned a fine and in force(p) services to offer our customers. Our service is with respect to the customers demand. Customers can directly reach us by move by to our company at Shah Alam. We will strive in order to improve our services and meet our customers needs and satisfaction.4.2 Market Size and TrendsFigure 4.2 afoot(predicate) Total Market Size for Three Consecutive Most Previous YearsThe size of the current total market is thoroughly taken consecutively since course of study 2008 until year 2010 and represented in a bar chart as above. As visualized, the size of the current total market in 2008 is 2850 units. For year 2009 and 2010, total market size is slightly increases to 2904 units. In the following year, the total size is much better among those after year 2008 when achieved to 2904 units.CompetitorsStrengthsWeaknessesTechshop Enterprise high quality of materials most expensive Not have too muchexperienceKurnia Tech one year warranty most expensiveJuana Sdn Bhd cheapest product among all no warrantyiRaybull Enterprise good service They have many competitorseven the location arestrategicTable 4.2 Major Competitors4.3 Competition and Competitive EdgeAs we can see from comparison table above, there are four (4) main competitors with the same interest. The four main competitors are Techshop Enterprise, Kurnia Tech, Juana Sdn Bhd and iRaybull Enterprise. Many costumers are sooner to go among these four companies due to their strengths in marketing. However, there are some weaknesses for these companies. We successfully encountered their strengths and weaknesses as taken in the table above. This is to ensure that our company is different and far better than them.As for us we provide quality, affordable and reasonable price, on time schedule of installation, simple yet wise and advanced technology, good service, friendly workers, and maintenance free. By providing all these features, we are not only giving benefits to our business but also to customers. They will find our new programmed product and service is better than others could offer. We do not need to hire foreign employees to work with us our own native is better than them. This will help to improve and to show others that we are also competent as we successfully create such technology which is the first in country. This will shake our competitors a bit.The fundamental look upon that had been added to our service is the main thing about customer satisfaction and guarantee. Customers are always right, that what we use. To make sure customer is always right, the review of our service and product is continuously. This can ensure c ustomer feel good and happy with service given and product sell, also, increase marketing of company.4.4 Estimated Market Share and Sales4.4.1 Market ShareMarket share before Ikatan Sdn BhdMarket share after tree month Ikatan Sdn Bhd enter4.5 Marketing outline4.5.1 Strengths and Weakness of CompetitorsOur product has some(prenominal) competitors such as Techshop Enterprise, Kurnia Tech, Juana Sdn Bhd , iRaybull Enterprise and others. All competitors have their own strengths and weaknesses.In general, all the competitors strengths areThey have a stable monetary with a good reserve of equity due to their amount of years the company has established in the market.Their company is well-known.They have regular customers.The qualities of their products are proven.They have good publicity strategies.They provide good services.They have good in take over the customerThe competitors weaknesses areThey sell their product with higher price.They dont have any market plan for their customers.T he location is not suitable.The working hours is not flexibleFrom our researched, we decide that our marketing strategy is based on marketing mix. Below are the results of the researchProductIkatan Sdn Bhd provides the product where the customers can get many benefit from using our product.PriceWe promote the product in a lower price canvass to other competitorLocationWe locate our company at the strategic place that easily for customerto come and buy it.PromotionFor the promotion, we use the pamphlet to approach our market target. Apart from that, we also uses our communication skills to persuade the customers and convince them that our product can give more benefit to them.4.5.2 Overall Marketing StrategyFor our product ultrasonic distance measurer, we have come out with some business strategies in order to deliver a convincing promotionaugury or signage at appropriate place and clearly visible.Provide delivery services to the costumer who has order the product and that will mak e easier for customer to take order.We will spread widely the pamphlet to the retailer and other customer to promote our product4.5.3 Sales TacticsIkatan Sdn Bhd gross revenue tactics are enforced by its sales forces and direct mail. Marketing department has already assisted by sales forces hired by top precaution in order to distribute company information and to promote product specialties to customers. Moreover, Ikatan Sdn Bhd has developed its own website which initiated by those sales forces and company software engineers from Engineering Department. Through mail, it will be more convenience for customers to reach companys products and thus own them via internet purchasing which is easier, faster, and most importantly secured.4.5.4 Advertising and Promotion Business CardAll the board of company directors will be provide with business card as an advertising method when dealing with the customers.PamphletWe use high quality and agreeable pamphlets to give good perception to our customers together with the information about our company.SignboardWe used high quality and coloring signboard at nearest area to attractive customers assumes them to visit and gain to try in our company.Website4.5.6 Distribution1. Distribution to Contractor2. Distribution to University/College3. Distribution to Retailer5.0 MANAGEMENT TEAMChief executive director Officer (CEO)MOHD ZULHIMI BIN ZAILANI860605-56-6905Administration ExecutiveMUHAMMAD REDHUWAN BIN ZAINI870120-10-5667Operation ExecutiveABDUL MUID BIN MOHD SALEH870103-03-5185Finance ExecutiveMOHAMAD ZULFADLI BIN MOHD ALI870729-10-5333Marketing ExecutiveMOHD IZZUDDIN BIN MOHD YUNAN860410-56-61635.1 role DescriptionPositionDescription1Chief Executive Officer(CEO)Provide leadership to ensure that the mission, ethical values and core guiding principles of the go with are put into practice.Lead the executive management team up to be effective developers of solutions to business challenges thereby establishing credibility th roughout the organization and with the Board.Responsible for impulsive the Company to achieve and surpass sales, profitability, gold flow, business goals and objectives.Motivate and lead a high-performance management team attract recruit members of the executive team not currently in place and retain the executive leadership team provide mentoring as a cornerstone to the management career exploitation program.Represent the Company and its values with customers, vendors, shareholders, government and regulatory bodies, other stakeholders and the public generally.Support the recruitment, selection, individual development and monitoring of the executive management team and other senior management personnel to ensure the Company maintains a strong succession plan.Spearhead the development, communication and implementation of effective growth strategies and processes.Collaborate with the executive management team to develop and implement plans for the operational infrastructure of syst ems, processes and personnel designed to accommodate the growth objectives of the Company.2Administration ExecutiveProvide secretarial / administrative support to the Company Senior ManagementReporting to Operations Manager on the day to day operations related issues.Preparing operations reports and analyzing the persuasiveness and efficiency of the overall operations functionsResponsible for requisition and maintenance of office equipment including furniture and fixture, telephone system, keysResponsible for printing of office stationeries, including envelopes, letterhead, name card devise documents for approvalCommunicate with internal and remote parties on matters related to administration / office management activitiesLiaise with the building management on building management matters e.g. car park, maintenance, safety etc.Renewal of License, Insurance, Contract, Advertisement3Finance ExecutiveProvides leadership for the entire sales and sales support organization in the sales, support and implementation of Company products and services.Develop and manage account plans/profilesCreate and develop customer solutions and sales proposals.Lead in the negotiation of long-term contracts. take in and exceed forecast sales objectives for Company products and services.Identify, understand and analyze product sales applications, new product opportunities and innovative new sales ideas.Develop sales forecasts and manage them on a bi-monthly basis and submit to management.4Marketing ExecutiveCreate marketing plans geared toward end users for each key product within portfolio, in line with strategy and targets and within budget.Work with the in-house designer to produce materials of visual impact and within brand guidelines.Work with the business innovations department to develop new ideas for reaching end user markets using the latest in electronic technologies.Communicate to rest of marketing team about new innovations and how they can be used to leverage marketing e fforts.Write copy for each product, reflecting key messages, features and benefits.Involve key stakeholders for product at each lay out of campaign, and report results once completed.Preparation delivery of marketing plan within key objective.Events planning, organization and execution.Copy writing of articles, marketing materials etc.Liaison with media and publishers as requiredEnsuring that all marketing materials do no deviate from the establishedBrand image of the business.Market research and competitor analysis.Maintains up to date with master key sector news.Supporting the development of the website.Focus on both business growth and client retention.Use email, ad words and other electronic marketing techniques to inform customers of new products and generate sales.5Operation ExecutiveResponsible for smooth execution of training programmers and eventsResponsible for providing administrative supportAccountable and accountable for the entire events and programmers from initia tion to closingWilling to work flexible hours whenever necessary including weekends.6.0 FINANCIAL PLANThe administration, marketing and operational is important in a business plan. However without any proper financial planning the implementation of a business is net worth it. From the data and information that included in the financial plan, it will help the company to evaluate their ability in managing their financial in order to run the business.Financial plan is the plan that shows the short term financial requirement in order to start a new business. It also shows how the requirement can finance the business using internal and external source. Beside that it can prove the reliable information about changes ion net resource resulting from profit directed activities.Financial planning is the last thing to prepare in this project to complete the business plan. It consists of total expenditure and budget to establish a good business. All the expenditure is such as administration, ma rketing, and operation budget. Actually, the grassroots objective of financial plan is to provide financial information which is important in determining some economic decision. Financial information is not information which is needed to be considered in making decision, but it is more important than that. We can say that, every decision make will base on financial information.6.1 Purpose of financial planTo analyze the project and financial planTo ensure the initial capital are adequate, ability and sufficientTo determine the purpose and relevant source of fundTo determine the amount of loan re-payment and depreciation of fund fixed assetTo appraise availability before positive investment is committedTo evaluate how far or potential return on investmentTo make a party such as a financial institution to be confidence with the financial of the company in order to make a business loan6.2 Strategies of financial plan even offs sure that company have sufficient amount of cash in orde r to take trade discount, to maintain credit rating and to meet unexpected cash needsGive advice and opinion to other department such as administration, marketing and operation in order to reach the business purposeMake sure the increase in business profit at the good stage and better performingMake sure that cash was used efficient and effectively without wastage in expensesTry to seek business opportunity in order to increase the financial strength or wealth of economy gross sales AND PURCHASE PROJECTIONPROJECT IMPLEMENTATION COST SCHEDULEADMINISTRATIVE, MARKETING, AND OPERATION BUDGETActivitiesStartDeadlinesBusiness registration15 Oct 20102 Nov 2010Trade mark registraton20 Oct 20105 Nov 2010Labours intake15 December 200925 Feb 2010Start production1 Nov 201028 Nov 2010Product promotion15 Dec 20102 March 2011Trial product15 Dec 20101 Jan 2011First sale2 Feb 201131 August 20117.0 PROJECT MILESTONESHere are the project milestones for our company.7.0 CONCLUSIONIt can be conclude that Ultrasonic Distance Measure has great potential to penetrate into the market due to low prize and high efficient usage. This was confidently proven by our experts through researches, surveys and development for more than two years. I believe this product will be successfully achieves our target sales.As a management team of Ikatan Sdn Bhd, we need to fulfill our customer needed. So, the good relationship between supplier and customer are very important. We are promise to give 100% commitment to our company.9.0 APPENDICESFigure 9.1 Picture of Ultrasonic Distance MeasureFigure 9.2 Technology used of our productFigure 9.3 Maps of our company located