USB Digital Audio Voice MARKETING

Recorder Dictaphone
PLAN
Deftones

The document describes the marketing plan of

the product USB Digital Audio Voice Recorder
Dictaphone which caters to reach the targeted
audience in various places in India.

GROUP Q2
Girish Hemnani -13319
Harsh Sultania - 13321
Jithin C Isaac
- 13323
Sai Pratyusha
- 13344
Tonmoy Banerjee-13355

Table of Contents
EXECUTIVE SUMMARY............................................................................................ 2
CURRENT SCENARIO.............................................................................................. 3
SEGMENTATION...................................................................................................... 4
TARGET MARKET.................................................................................................... 4
POSITIONING.......................................................................................................... 4
FEATURES.............................................................................................................. 5
PROMOTIONAL STRATEGY...................................................................................... 6
DISTRIBUTION STARTEGY....................................................................................... 6
COMPETITOR ANALYSIS.......................................................................................... 7
SWOT LISTING & ANALYSIS.................................................................................... 7
PORTER STRATEGY................................................................................................. 9
SALES FORECAST................................................................................................. 10
PROFIT & LOSS ACCOUNT................................................................................. 11
LEARNING FROM M-PLAN..................................................................................... 11

EXECUTIVE SUMMARY
The document describes the marketing plan of the product USB Digital Audio Voice
Recorder Dictaphone. The plan caters to reach the targeted audience in various places in
India. Extensive secondary research was done to identify the target audience and three years
forecast is estimated.
A Dictaphone is a sound recording device most commonly used to record speech for later
onto personal computer, tablet or smart phone and syncs with voice recognition software.It
uses a DSS format (digital speech standard) that transfers the digital recording sales estimate
was done for this product.
One of the largest markets for digital audio devices is the business world where people use
digital audio devices to take notes and dictate letters, memos and other correspondence to
assistants for transcribing.Todays electronic digital voice recorders have moved far beyond
mere dictation into the world of high-quality sound recording.
The device is a small portable USBdigital voice recorder which is used for automatic
transcription when they connect to a PC back at their home or office.Our product provides
hassle free transmission of data and recording due to its small and compact size. It is a light
weight product with competitive pricing compared to its competitors.Proper segmentation
was done for this particular product.The target market was identified and was positioned
accordingly.The sales were forecasted for three years after considering the appropriate
expenses.
Our company is based in Bangalore and initial targeting is done in Bangalore and four
metropolitan cities namely Chennai, Mumbai, Delhi and Kolkata. Gradually we will expand
our market to other tier 2 cities.

CURRENT SCENARIO
A growing market, attractive features, and convenience in using Dictaphone have fuelled the
market for the device. Users not prefer a device with higher recording time but also prefer
adevicethat could provide them multiple features with ease of use.There is an increase need
for voice recorder usage .With advancement of technology the voice recorders are becoming
much more compact and are available with better features.The product life cycle of such an

electronic device is too short which spans from 6-8 months.Thus there is a considerable need
to provide better features to the consumers.Users of Dictaphone are today are highly educated
and they need a device which can help them to store data and speech.
Delhi and Bangalore has the highest number of Journalist and Consultants in the country
followed by Bangalore. Bangalore has the highest number of IT-industries. It has around
1500 IT industries and a number of political events are held every year. Administrative
assistants have used voice recorders for years, dictating important instructions from the boss
or recording meetings, memos or notes. Medical doctors and psychologists have long used
voice recorders to transcribe reports of a patient's progress. Litigators rely on recorders when
investigating and trying cases. Every type of investigator, from criminal to paranormal, has
relied heavily on these devices to gather evidence or document findings at a crime scene.
The latest technologies in the best digital voice recorders help to conveniently capture sounds
in perfect clarity.This has led to an increase in competition. Many companies are present in
the market with varying price and features.

SEGMENTATION
The product Dictaphone is used by different categories of users. Some of them are
Journalists, Journalism and law students, Musicians, Consultants, Writers, Autopsy and
Psychiatrist, Detectives and secretaries and assistants of business heads and senior lawyers.
These segments are spread across various professions and the size of each of the segments is
relatively low. Since most of the segments showcase similar behavior to the product we can
club these segments together to form Hybrid segments.

TARGET MARKET
Our primary target consumer for Dictaphone will be Journalists and Journalism and law
students combined who have immense use for this product since it is very much related to
their profession. Along with the primary target group our product can also be targeted to the
consultants and assistants of various business heads and senior lawyers. The journalists
mainly use this product while interviewing personnel and during field works whereas the
secretaries or the assistants use this product for recording discussion and basically serves as
an electronic scribe to them. The target group except the journalism students and law students
lie in the middle class when we compare the disposable income into consideration.

POSITIONING
The requirement for the above target is such that during their working hours they demand
higher recording duration. There are products available in the market with higher recording
time along with so many other features which is not so useful for the target segments and is
priced very high also. The product should be positioned among the target segments in such a
way that it satisfies their needs and wants.

For this we took the recording hours and price of the product in two axis of the perceptual
map for positioning our product among the target segments. The competitors Sony (most
preferred brand) has a high recording time and is highly priced. Olympus is another brand
which has high recording hours but is priced moderately high. Other brands like Transcend
offers low price but the recording time offered is much less.

FEATURES
The key feature of the Dictaphone is the connectivity to the computer.The product is a light
weight device, which provides convenience during travel to various places. We also looked at
the number of folders to store recording files and whether voice recorders have rechargeable
batteries.
A USB connection, which is an increasingly common feature, allows one to upload all of
their audio files onto their desktop, so he/she can organize them with ease and find a quote

from an interview.It also has a storage capacity of 8 GB which helps the user to store
data.The recording time is enhanced which is around 760 hrs.

PROMOTIONAL STRATEGY
We provide various ways to promote the Dictaphone that reaches the targeted segment. The
main promotional activity is through a radio advertisement, which grabs a quick attention in
20 to 30 seconds. In addition, we are promoting through standees as they draw the
consumers attention and delivers the message to the user. These standees are kept in various
retail showrooms, events and airports for few months to promote awareness among the
customers.
Promotion is done by social media by creating Facebook pages giving description about the
product and by giving the link to the companys or product website. Moreover, we are
maximizing the promotions through events such as trade fairs and conferences where a huge
number of targeted customers arrive during these occasions as well as these events provides a
potential for good visibility and interaction with the customers.

DISTRIBUTION STARTEGY
USB Digital Audio Voice Recorder Dictaphone will be distributed through sales force,
product shelves of major retail stores, and online retailers. In the first year, the Dictaphones
are covered primarily in the Bangalore and 4 metropolitan cities namely, Chennai, Mumbai,

Kolkata and Delhi (Phase A Cities). In year 2 and year 3, the distribution is extended to tier 2
cities, which are considered as Phase B cities.
Online stores: Dictaphones are distributed online through portals, which acts a convenience
to majority of the customers. The online portals provide the detail description of the product
features along with the availability status of the product. Since majority of the targeted people
are connected through internet, a chunk of the sales is generated through online stores.
Sales force: They generate lot of sales from the targeted segments such as journalists,
secretaries and consultants as they understand the need and behaviour of the customer better
by interacting with them personally.
Electronic stores: Sales are obtained through retail stores such as, Viveks, Staples and Next.
These stores act as a medium of product presence in the market.

COMPETITOR ANALYSIS
Main competitors for this product are Sony ,Olympus and Transcend. The complete analysis
in the form of tabular column is given below:
Competitors

Awareness

Quality

Recording

User

Weight

Friendly
E

(gms)
G

SONY

Capacity
G(534hrs)

OLYMPUS

E(823hrs)

TRANSCEN

G(550hrs)

D
Competitors pricing: Rs.2500-8000

The parameters used to rate the competitors for different components are
E-EXCELLENT, G GOOD, F FAIR,P-POOR

SWOT LISTING& ANALYSIS

Strengths

1. High Recording Time: Our product has the highest recording time as compared to
other products available in the market. This is our biggest strength, which is the need
of our customer (especially Journalists).
2. Competitive Pricing: We are offering a price that is more attractive with added
features. As per our analysis and research the consumer is ready to pay more for this
product.
3. Ergonomic Design: A core benefit of ergonomic design is an increase in the users
comfort. The design is such that supports natural body mechanics. It works on one
thumb operation.

Weakness
1. Unawareness about the product On the basis of our research, we observed that many
people are not aware about the product as a Dictaphone. They are able to recognize it
more as a voice recorder than Dictaphone. We need to promote our product in such a
way that the message indicates that the product
2. Limited Budget for Marketing & Advertising expenses: The limitation of budget has
constrained us to a focused market that is beneficial at one end and a disadvantage at
another.
3.

Service for the product: At present, we need to rely on our collaboration with an
electronic service company for services of our product.

4.

Warranty Issues: We are providing limited warranty of our product. We have a threat
of distributing defective pieces that may ultimately affect our market image.

Threats
1. Competition by existing players: There are four players who have established their
market and provide the same product with more or less similar features.
2. Power of Supplier: The biggest threat is from our supplier. In case, we are not able to
bring sales in first few months then our supplier may cut short the supply that may
ultimately affect our sales in the future.

3. Product may turn obsolete if competitor comes up with a much more innovative
product. In that case we may have to change our strategy to combat with existing
players.
4. Increase in Import Duty on Electronic Products: One of the biggest macroeconomic
variables that may affect our sales is Import Duty. Due to change in Government
Policy, we may have to increase the market price.
5. New Technological Substitutes (Smartphone, Recording Gadgets): The advent in
technology and introduction of new products in other electronic segment may affect
our sales.
Opportunities
1. Huge untapped Market
-People who know about the product but dont use it
-People who are not aware about digital recording
2. Similar products in the market are expensive
3. Increase in number of media houses and IT Companies.
4. Major share of Repurchase of Products

Mapping
Strengths

Opportunities

Threats

1. Competitive
Pricing

2. Increasing Sales reduce

&

Untapped Market

Weakness

1. Communication

power of supplier.
3.

Competitive Intelligence

3. Post

Strategy

Collaborate

2. Optimizing

Electronic

Promotion Strategy

Purchase:
with

an

Service

Company.

PORTER STRATEGY
The Dictaphone is in a lower medium price range and is intended to reach larger pools of
smaller segments which we are achieving through online stores which has better reach and

penetration in the target segments which we focus. The product thus lies in the low cost
leadership strategy is the first quadrant in the below porter matrix.

SALES FORECAST
The Dictaphone is sold at an MRP of Rs: 1500/- which is procured at an amount equal to Rs:
650/-. The online retailers are given a margin of 17% on MRP.

Dictaphone Sales & Profit Projections

4990000

3990000

2990000

1990000

990000

-10000

Year1

PROFIT & LOSS ACCOUNT

Year2

Year3

Revenue-Expenditure Particulars
Projected Sales in Units
Sales Revenue(in Indian Rupees)
Cost of Procurement
Gross Margin
Expenses
Sale commission
Advertising Expenses
Freight & Delivery Expenses
General & Admin Expenses
Miscellaneous
Total Expenses
PBIT

Year 1
2094
2607254.1
1361217
1246037

Year 2
2826
3518560.49
1836999
1681561

Year 3
3736
4651293.86
2428386
2222908

15000
318000
10000
881301.6
15000
1239301.6
6735

15750
260000
18500
1004238.36
28000
1326488.36
355073

16537.5
205000
15000
1180347.48
15000
1431884.98
791023

From the above figure, it can seen that estimated profits are showing positive signs right from
year 1.

LEARNING FROM M-PLAN

The marketing plan of USB Audio Dictaphone helped us in getting an insight into the
thinking process that goes in before launching a product.
i)

It helped us to gain hands on experience on market research

ii)

It gave us a chance of gaining consumer insights.

iii)

Marketing concepts of Segmentation, targeting and positioning were properly

identified and applied.

iv)

We got an idea of actual cost of promotion through different channels.

v)

Last but not the least; it gave us an overview of how working in a team for a
common goal can be. It brought out different opinions and understands the
product better.