Marketing Plan

Consumer and Market Profile

Product: The Aerial-Board

Section 1: Brief Product Description

The Aerial-Board is 30” long, 7.5” and 9" wide with a height of 1” it is shaped like

a skateboard. The Aerial-Board has the ability to hover off the ground using

electric motors with propellers attached to it, this allows for the board to hover 1-6

inches off the ground depending on the weight of the rider. The Aerial-Board can

be controlled in 2 modes. The first is manual mode which rides similar to that of a

skateboard where the rider will lean to move forwards, backwards, and to the

sides. The other mode is controlled mode where the rider can control the board

with their smart devices. The Aerial-Board is the only self hovering board that can

go anywhere, with our competitors needing to use liquid nitrogen to be able to

float and only being able to maintain flotation over metals like iron or steel. The

aerial-board is truly the go anywhere board.

Section 2: Marketing Profile

SWOT Analysis:

Strengths:

- Eco Friendly products allow us to capitalise on the high demand for

electric transportation.

- Smart Device controls allow for use from individuals with a wide

variety of athletic abilities.

- Very Premium looking method of transportation could attract big

names to use.

- Multiple Size options available for different scenarios

Weaknesses:

- Expensive cost of production will make the price high.

 - Devices that truly “hover” may not be seen as Safe.

- Extremely Niche method of transportation.

- Weight of the product will increase shipping costs dramatically.

- Manufacturing capabilities needed to create are expensive.

Opportunities:

- Lack of major players in the market

- Eco friendly method of transportation could attract public benefits

(Government)

- Transition away from gas powered vehicles leaves holes in the

market we can fill

- Opportunity to sell in bulk to companies that would use the hoverboard

similarly to pay to use E-scooters.

Threats:

- Currently a small market

- Could be seen as dangerous new method of transportation by media

- Attitude towards hovering transportation devices

- Lexus, Omni, Hendo Hoverboard

- Hoverboards often confused with true “hovering” boards and the

hoverboards with wheels that are controlled via leaning.

The global Aerial-board market size is valued at USD 778 million in 2021 and is

estimated to achieve a market size of USD 1,215 million by 2030 according to

Acumen Research and Consulting, 2022. The market's expected growth rate is

7.02%/Year, this is comparable to the growth rate of the smartphone market

which comes in at 7.3%/Year. The Aerial Board market would be difficult to enter

as it would require a large amount of money and manufacturing capabilities to

begin creating and selling the boards.

The transportation market is trending extremely quickly towards eco-friendly

options and away from gas powered transport. Many countries have set dates

when they plan on no longer selling gas powered vehicles. This leaves a large

gap in the market that we could potentially fill by targeting individuals who don’t

have the money for an electric vehicle but don’t want to rely on public

transportation.

The true “hover” board market is relatively small market with most of the major

players only having prototypes according to Brett Williams from the Mashable

article in 2017. One of the main players in the market is Lexus. Lexus is an

extremely popular brand that is known for reliability and safety in vehicles. They

created a magnetic field powered hoverboard. The other large players in the

market are Hendo Hover and Omni. Hendo Hover released a electromagnetic

hoverboard back in 2013, they released a 2.0 version in 2015. Omni hoverboard

uses a propeller system for their arial board. They have since continued

conducting flight demos and have begun showing off the product.

Some micro environmental issues include manufacturing and shipping the

product considering the weight of the product and depending on where it is

produced it will be expensive to ship.

A major macro environmental issue is the current transport culture. In most

western cities there are roads, sidewalks and bike lanes. It is potentially

dangerous to be riding the AeroBoard on any of these surfaces. Would

municipalities allow our product on these pathways or would it require a new area

to operate.

Section 3: Segmentation and Targeting

The market of Aerial-Board’s can be bifurcated on the basis of product type,

application and region. By product type, the global Aerial-Board market can be

segmented into 7.5 and 9 inch. On the basis of application, the global Aerial-

Board market can be segmented into recreational activities, business purposes,

personal mobility and others. On the basis of region, the global Aerial-Board

market can be segmented into North America, Latin America, Europe, Middle

East & Africa (MEA) and Asia-Pacific.

Target market for Aerial-Board is short-listed and is presented in the following

chart with four basic market segments:

Demographics: Geographic:

People from age 18 to 30 People in urban areas of North America

People with high incomes People in large commercial cities all around

the world i.e New York, Toronto, London. .

Psychographics: Behavioural Variables:

Students, Recreational people and People who want value for their money

Athletes Students and job professionals who look for

People with interest in sports activities personal transportation

With the help of this chart we divide our target market into 2 different segments,

segment A and segment B. Segment A includes individuals aged 18-30, located

in the large urban cities all around the World, who earn more than 50K a year,

and enjoy new technology. Segment B includes individuals aged 18-30, located

in big commercial cities around the World, who enjoy travelling and need means

of personal transportation. After analysing both these segments, we came to the

conclusion that Segment A would be our targeted segment since the aerial-board

is not on the cheaper side and we want our main focus to be on large urban cities

and our product to be available world wide where people enjoy and avail the

latest technology and are not afraid to spend money.

Section 4: Customer Profile

The demand for Aerial-Boards has increased considerably owing to the rising

use of boards for recreational activities as well as for personal mobility and is

gaining popularity across the globe. Moreover, the increasing interest of

consumers in self-balancing and battery-operated scooters along with the rising

population of youngsters are some key factors further expected to boost the

demand for Aerial-Boards thus driving the growth of the global Aerial-Board

market over the forecast period.

Ideal Customers:

- A University student who struggles to find parking on campus and is

looking for another form of personal transportation.

- A young adult who is fed up with being late for work due to traffic. The

Aerial-board can provide transportation to work, and fixes this problem

because similar to a skateboard, traffic can be skipped.

 - A tech savvy young adult, looking for amusing ways to travel to work

would love the Aerial-board. This individual would likely be intrigued using

the controlled mode.

- An athlete looking for transportation, apart from driving, allowing them to

still get a workout in. The Aerial-Board is a good option if they are looking

to find something different and new. Opting for the manual mode would

guarantee to get their calves working .

- A teenager looking for the newest gadget to try

- An individual of any age who is healing from a minor injury and is working

on improving their balance, the Aerial-Board is a fun way to do so.

Section 5: Positioning

Positioning Statement

Aerial boards are for young professionals who want a cheap green alternative

mode of transport, aerial board is the cheapest hoverboard in its category so the

consumer can experience hover technology without breaking the bank we can do

this because we believe in the future of this technology and we are the best

equipped to bring the hover experience to you.

As you can see in the positioning statement, Aerial board wishes to make

hovering technology affordable to the average consumer. The average price of a

hoverboard from one of our competitors is $15,000 with products on the high

being closer to $36,000 (Exhibit A). We on the other hand wish to strip down the

luxury that our competitors offer to provide a cost effective hoverboard that can

truly go anywhere. We expect to price our hoverboards at $2000 with hopes to

lower it in the future as technology improves. The reason we hope to sell our
product at this price point is to make it easier for our target consumer to get our

product since most of the people in the our target market would be priced out by

our competition we would expect to be a starter brand with hopes to provide a

higher end product in the future.

Exhibits

Exhibit A

References:

1. Hoverboard target - Papers Solution. (n.d.).

https://paperssolution.com/file/hoverboard-target-530/

2. Hoverboard Market Size, Share and Analysis | Forecast - 2030. (n.d.).

https://www.acumenresearchandconsulting.com/hoverboard-market

3. Williams, B. (2021, October 29). These companies actually made

working hoverboards. Mashable. https://mashable.com/article/3-real-

hoverboard-companies