Marketing Research and Marketing Management MGT 2002 Digital Assignment-3

SCHOOL OF COMPUTER SCIENCE AND ENGINEERING

Winter Semester 2020-2021
MGT2002- Marketing Research and Marketing
Management
Slot – E2/TE2
Digital Assignment-3

Name: Gaurav Poosarla

Registration Number: 19BBS0104
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Marketing Research and Marketing Management MGT 2002 Digital Assignment-3

Different steps identified for creating a marketing plan are as follows for the product: Ultraviolet
light Tunnel.

Marketing Objectives:

a) Increase Brand Awareness: This objective states the importance of increasing the brand
reach. The number of impressions can be measured by comparing audience brand
awareness before and after the campaign.
b) Increase Market Share: This objective is to analyse the competition by looking at other
existing brands in the same industry. It has to be done by increasing a market share by the
end of the current fiscal year by increasing the market share by 10%.
c) Brand Expansion: Positioning and communication must be adequately done as the brand is
introduced to the new market. It has to be achieved by conducting thorough market
research during the first half of Q3 and develop messaging strategy by the end of Q3.
d) Improve ROI: This is one of the most important metrics as we want to check if our
investments are paying out or not. It can be achieved by doing A/B testing on different ads.

Identifying the target market:

a) Defining the Market: Our product can be used by anyone who wants to have microbe-free
vegetables/items. Since our product mainly tries to kill the microbes using UV light, the
primary aim is to help consumer give healthy food, i.e. without any contamination by various
microbes.
b) Segmentation: In this step, we would be trying to group people based on various
demographic factors. Those are as follows:
i. Segment-1: High-Income families who want the highest safety.
ii. Segment-2: Middle-class families who might want protection but do have a
price constraint.
iii. Segment-3: Families with low income.

c) Targeting: After the segmentation was done based on demographic factors, in this case,
income was the factor. After analysing all the factors, it has been found out that Segment-1
would be the best option as it would earn us desired profits, and Segment-2 would also be
pitched as it is the second-best option, but the primary focus would be families of segment-
1.

Identifying the competition:

Using Web: One of the easiest ways is doing a google search of the keywords identified for SEO. We
can find the search content by empathising with the customer's point of view and noting, the top ten
results would help us find the competition.

Choosing the proper competition: After using the technique mentioned above, we could find some
products available in the market, but our product is entirely based on non-thermal, non-chemical
technology to inactivate microorganisms, and even our product is priced less. Our product is highly
efficient on product surfaces, such as food or even tools possible to disinfect UV. Some of the
companies with a similar product in their product lines were Clordisys, dinies, lokozo. All these
companies were having similar products though they haven't mentioned the product specifications
completely. Since the technology used in these products is very new and resources available are
minor.

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Marketing Research and Marketing Management MGT 2002 Digital Assignment-3

Describing the Product:

The main application of our product is to kill all the microbes present on vegetables/fruits, but it can
be used on many other products as well where there might be a chance of microbes be staying for a
long time and might give a risk of transmission. Our product mainly uses the concept of UV light
which kills the microbes. The main USP of our product is that it is entirely harmless and completely
safe. UV light treatment is a non-thermal, non-chemical technique to remove microbes. This
technique is widely used in the disinfection of water and air systems.

There are many other similar products as well available in the market. However, they haven't
mentioned anywhere about its safety status; moreover, none has stated whether it is safe for food.
Our product is entirely safe and has no side effects. Furthermore, food can be directly kept inside
the tunnel, and consumer can eat food without any fear of microbial contamination. This product is
environmentally conscious as well, and it is related to the health of the consumers.

Defining the Distribution strategy:

The Distribution strategy which we are going to use is the Direct Distribution Strategy. We would be
trying to sell the product to the consumer directly. We are going to have an e-commerce website as
well, which will help in the distribution process. We have chosen this strategy because one of our
objectives is to increase brand awareness and using this strategy, we would be able to connect to
the consumer directly. Currently we are planning to launch the product nationally and once we
create some brand awareness; we would be able to launch it internationally as well.

Choosing the promotional strategy:

We are going to determine the objectives which would be done by creating awareness about our
product during this covid period. Since we have significantly fewer competition thanks to our
product's unique features, consumers would give our product more preference, and we are going to
create a conviction among the minds of the consumers. We are thinking of the promotional offer to
provide a heavy discount of around 30% to the first 1000 customers who purchase our product.
Once we achieve this goal, we would be rolling out additional discount offers like, if a consumer
purchases we would be giving him discount coupons which they can redeem in subsequent
purchases.

The next step is designing a message for an advertisement that would get the attention and hold the
interest and finally obtain the desired action, i.e. creating an image of our brand among the target
audience's minds. The message which has been thought as of now is "Safety is our No1 Priority".
Another alternative could be "Safety is a choice you make". These are two slogans which we are
going to use in our advertisements which would lead to the promotion of the brand. The next step is
how our message is going to be delivered to the consumers. We are planning to use social appeal
because our product’s aim is to prevent the transmission of viruses/microbes. Finally, the medium of
communication will be personal communication, i.e. using phone, Internet chat, and emails. We
would be even telecasting the advertisements on Television.

Developing the pricing strategies:

The pricing strategy which we are going to follow is Value-Based pricing. We are going to offer the
right combination of quality and good service at a fair price. Also, our product is currently in the
introductory stage. So, we would be keeping the price with this point in our mind. We would be in
the monopolistic competition since there are similar products available in the market, but

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Marketing Research and Marketing Management MGT 2002 Digital Assignment-3

differentiation is the crucial factor. Initially, we would be launching the product with the penetration
technique since our product is new and in the introductory stage. The pricing method we will use
would be primarily competition-oriented because we would be initially starting with the going rate
policy.

The marketing budget:

We want to use the method of percent of revenue, since we are a new business. So, we would be
allocating 12-15% of income towards marketing. As we progress, we would be reducing the
percentage to 6-9%.

Plagiarism Reports:

a) For 1st part:

Link for viewing the complete report:

https://smallseotools.com/view-report/8041d9de75443db7a1bec6ae9991550d/

b) For 2nd part:

Link for viewing the complete report:

https://smallseotools.com/view-report/a794fa38102d95687751bca32ad034bd/

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