Executive SummaryExecutive Summary
Seachange Technology plan to release an eco-friendly shark repellent device whichwill be known as the Scuba Shark Shield, a promotional image can be seen on thereport title page.Our goal is to achieve 100% customer satisfaction so our focus will be on productquality; the Shark Shield will never fail (excluding battery life). We will be the firstcompany to enter this specific industry so to take advantage of our first mover advantage we will do substantial promotion to gain maximum market share beforeany competitors arise.Our demographic is mainly middle-aged with above average income and they spendon average $1300 per year in scuba diving and they prefer quality over value. After conducting a survey it was found that 50% of scuba divers would either definitely buyor possibly buy the Shark Shield. We will be advertising the quality of our productand our target market share is 30% of scuba divers after 5 years.The sale price of the Shark Shield is $750 including $600 in expenses and a $150(25%) markup. Underwater camera, underwater propulsion devices and somedrysuits cost $2000+ and having the target audience prefer quality over value weexpect the audience won’t perceive the price as too high.The capital we require to start the project is $840,000 which covers all initialdevelopment expenses, ongoing expenses will be covered by sales. The loan will be paid off over a 5 year period.Our expected market share will grow most rapidly in the first 5 years then stabilizeafter 8 to 10 years. Our promotion strategy includes: direct mail, magazineadvertisements, website advertisements, sponsorship and affiliation.Quality is our primary concern so we will be implementing quality control systemsincluding: audits, documentation and meeting Australian regulatory standards.
Marketing Plan: Shark Shield Page ii