Marketing Summary

Business name: omega-1

Business structure:
Business owner: the omega-1
150101 – Shubham Shourav
150102 – abhinav kumar
150103 – Vishal raj
150104 – Rakesh kumar
150006 – Anjani kumar
150107 – Shreyank Jaiswal
150009 – Himanshu kumar priyadarshi
Table of content

S no. Particulars Page no.

1 Acknowledgement
2 Introduction
3 Vision
4 Mission
5 Goals and objectives
6 Target market
7 Marketing strategy
8 Finance
9 Swot analysis
10 Product and services on offer
11 Positioning
12 USP
13 Pricing strategy
14 Product launch strategy
15 Value to customer
16 Customer demographic
17 Key customer
18 Customer management
19 Competitors analysis table
20 Advertising
21 Sales strategy
22 Sales & distribution channel
23 7 p’s
24 Summary
25 References

Acknowledgement
In planning of our assignment, we needed to take the assistance and direction of some

regarded people who merit our most profound appreciation. As the fulfilment of this task

gave us much delight, we want to show our appreciation to the course instructor prof.

Nilamadhab mohanty, of chandragupt institute of management patna , for giving

us a decent rules for task , we would like to appreciate and say thanks to each one of

the individuals who helped and guided us in completing this endeavour.

Introduction
Olivo healthcare is an indian company, which manufactures wearable fitness tracker under

the brand name olivo. Its headquarter is based in patna, india and was founded in the year

2022. The company currently has just one product which has been named olivo’s omega-1.

Omega-1 is designed to provide best value to its target market – those who desire to monitor

their health and physical fitness, including pulse rate, blood pressure along with additional

features of activity tracking - step count, heart rate, active minutes, level of activity, sleep and

stress patterns, body tempera. It is also equipped voice assistance, emergency sos system.

Omega-1 comes with an app which you can download from the app store /play store , where

you can use omega-1 to its full extent by synchronizing the phone with the watch.

Other than these it also provides 20+ workout modes with remainder and stopwatch

functions.
 Executive summary

Omega-1 will be a omega-1ness tracker band, we will be devoted to consistently providing

high customer value through our professional services in the targeted market. “omega-1” will

set new trends in the fitness tracker industry.

Our tracker will offer all the essential features, calorie calculator, steps counter, heart rate

monitoring and some basic features like stop watch alarm and etc. With accuracy which one

needs to track their daily activity and take close look on their health. Our fully qualified team

will provide advice and support that is needed to help achieve goals of the individual at a

reasonable price.

Following marketing plan illustrates our strategy to enter the market and capture a sizeable

portion. Strategy includes fixing the price setting different promotional strategies and

entering the market.

 Our mission
We want to give our users a wonderful experience that can make and motivate the person to

take on health seriously, with proper exercise and vital measurements. In this post pandemic

world where health is one of the most important concerns, fitness trackers are the most

convenient way to be aware about our vitals so that necessary actions can be taken.

A large scale of survey found that 70% of indian women and 59% percent indian

Men were unhealthy because of their diet and lifestyle.

So we want to provide a stage/platform, where everything can be managed through the app of

Omega-1, from recommended diet to planned workout session for all age group to keep their

health in check we will provide exercise that they can be performed without any

Risk, the app will tell you the amount of walking you need to do in order to achieve desired

goal by calculating one’s body mass index and age so that no one faces any kind of problem.

Our plan is to make our product easily available to the consumer through a robust supply

chain of offline and online retailers. We will also take up online-internet advertisement

campaign to inform our intended audience about our offerings and win over their trust and

provide them with a good product and service. Focus of marketing campaign will be intended

towards today and future changing environment and need for customers to stay fit and

healthy.
 Our vision
We intend to make our business a number one priority to our customers and to stand

somewhere among the leading business of its type. The following are the main highlights of

our brand that we have planned to incorporate.

Promoting customer confidence

Our product will cut across different walk of life.

More features for all categories with a negotiable price.

We will become a national leader in fitness tracker market, providing exceptional and

innovative programs and services, that result in measurable and transformational change in

the lives of those we serve. We also intend to become self-sustainable by the end of 2nd year

of our business.
 Goals and objectives

 To provide customers with a high quality and affordable fitness watch.

 To be the leading brand it’s category.

 To become a trusted and known symbol in the fitness wearable industry.

 to provide unique features and be a trend setter.

 Target market

Omega-1 fitness tracker target customers are working professionals aged 15 -65 years, with a
medium income and a good level of education. People from this consumer group are often too
busy to engage in regular exercise. Also, if they are working with other people or have an office
job, they are concerned about their style and presentation. Hence, we are offering the product that
will take charge of your health and add to your style symbol.

Marketing strategy
We will offer our product on online and offline platforms. We will also do influencer marketing on
platforms such as youtube, instagram snapchat and facebook through paid partnerships with
budding influencers who will provide the product review to attract the customers trust and hence
influence them to make the purchase. During festival seasons we are planning to provide heavy
discounts on our product.
 Finance
Price

Selling price = 3900

Cost = 1/3 * 3900 = 1300 approx
Expected profit = 35%
Total cost = 3500/130%=2700 approx.

Swot analysis

Strengths
1. We are giving body temperature feature which is unique among the competitors.
2. We are also giving reward points for completing steps milestone.
3. Wide range of colors to choose from.
4. User friendly interface.

Weaknesses
1. Red ocean- cut throat competition with well established brands in the market.
2. As a new entrant in the market, quite difficult to gain customer loyalty immediately.
3. Currently, offering one product line- wearable devices.

Opportunities
1. Opportunity to establish brand in e commerce platforms like flipkart, amazon, and
other e commerce sites.
2. Channel of distribution- offline stores in patna market.
3. Partnership with different sports brands to avail usage of reward points.

Threats.
1. New entrants in the market.
2. Differences in consumer behavior – customers generally prefer and show loyalty to
well established brands which may cut the sales of our product.
3. Risk of return on investment.
Product and services on offer

Our product omega-1 is loaded with all essential features such as vitals measurement and bp
monitor along with the addition of new body temperature feature.
Also we are providing sound based fun activities through which you can earn reward points
while taking steps and redeemed it at your nearest favourite sports store. We are planning to
place our product under shopping type of consumer product.

Positioning

For health-conscious teenagers to golden agers, who are persistently concerned about
monitoring their health and fitness, omega-1 is an affordable fitness tracker with new added
features like body temperature sensor along with the gaming facility and many more.
 Usp
The omega-1 has an integrated body temperature to monitor if the person has fever. It will
give alerts to the user in case there is a spike in the body temperature which could result in
fever. Along with the temperature feature, we are also providing our users the vital
measurement and the bp monitor. Blood pressure sensor with notification facility will enable
the users to get a notification whenever there is a deviation in the bp from the standard.
Emergency notification feature will send an sos to the registered family members through the
mobile app. In addition to this we are also providing gaming feature which includes
soundbased activities and after completing certain target, points will be rewarded through
which customer can buy fitness related products.
We are also providing call acceptance facility as our fitness tracker has an inbuilt mic and a
speaker. There are 14 different workout modes through which customer will be able to track
their workout statistic.
 Pricing strategy
Selling price = 3500
Total sales revenue = 3500 × 18900 = 66150000

Cost = 1/3 × 3500 = 1200 approx

Cogs = 1200× 18900 = 22680000
Difference = 66150000 - 22680000 = 43470000
Expected profit = 30%
Therefore, total cost = 3500/130%=2700 approx.
Net profit = 3500-2700=800
Revenue-total cost= 66150000-43470000=22680000 (sga expense)
 Product launch strategy
We are introducing a new product that is a fitness tracker and its name is omega 1. In order to
expand our consumer base, we are therefore offering our products at steep discounts and
supplying other extra-beneficial services like gift and lucky drawings.

Value to customer

Fitness trackers are useful if you are serious about wanting to track your workouts
and all information on calories. It helps you set targets and it motivates you to
achieve these targets. Most trackers have reminders to move every hour, to breathe
and relax, to complete your daily steps, to stand every hour, and so on.
Growth potential

Increasing demand for wireless sports and fitness devices is driving the market.
Currently, the use of smartwatches among cyclers, runners, gym-goers, swimmers,
and athletes is increasing rapidly, owing to their wide range of monitoring
capabilities.

Increase in health awareness among the consumer is driving the market. Consumers
across the world are spending a lot on health monitoring gadgets.

Customer demographics
Gender – unisex
Age – 15- 75 years
Income group- above 4lpa
Education- atleast matriculation
Marital status- single,divorced,other,married,widowed
Religion- all
Region- patna market

Socio economic group- middle class to upper class

potential customer

Fitness trackers are worn by people who want to improve their physical fitness or track their
progress over time. The devices are popular with athletes, but also with people who are trying to
lose weight, get in shape, or simply live a healthier lifestyle.

S.W.O.T analysis
Strength

 it is tech start-up company with ability to take on risks and have “first over “
advantage.
 The product contain great technology and has great value.
 OMEGA 1 providesa broad range of connected health and fitness devices and is
available on a variety of platforms.
 OMEGA 1 is widely available with broad and differentiated go-to-market strategy

Weakness
 Slow to evolve
 Cheaper competition
 Competing products with greater functionality.
 Limited continued value

Opportunities
 Developing innovation
 Importance of sports sensors
 Attract third-party developers

Threats

 Growing competition
 Established brands with more credibility
 Privacy issues
 Technology is changing
 Customer management
 A follow up on customer reviews after a few months of purchase will be initiated in
the form of short questionnaires to understand where our product lacks and what to
improve.
 Our employees will interact with customers on a regular basis. To ensure everyone
has a positive experience, employees will be encouraged and empowered to treat
customers well.
 Notes and reminders about customer details like their birth dates, or favourite product
or other personal information will be saved so that employees can easily manage
relationships with each customer. This comes in handy for prompt follow-ups, like
when a product is back in stock.
 Important newsletters, event invitations, and specialty emails will be sent through
email so that customers feel like they’re being kept in the loop.
 A special holiday offer, a discount on special occasions and a simple thank you card
at the end of the year will be sent to our customers.
 A friends and family day will be celebrated with discounted shopping for loyal
customers, so they can bring someone special and spread the word.
Competitor analysis
 Advertisement
1. Send emails- email marketing is an essential for attracting customer to our start up
for little no more cost. Once we have a prospect or customer email address, we can
send him or her email to promote our start up.

2. Start a blog – blogging is powerful strategy that can help our start up generate the
exposure its needs. With a blog, we can position our start-up as a leading source
while also attracting organics search traffic to our site.

3. post on social media- statistics show that more than3.5 million people use social
media, so its important to incorporate this channel into our start up marketing
strategy.

4. Sponsor an event– sponsoring a local event can help our start-up on prospects
radar .we pay the small fee to event organizer to become a sponsor and promote our
business with banners, booths and other marketing material.

Sales strategy
1 .online direct selling: we sales our product from our website , typically using credit or
online payment directly to the customer in a common distribution technique .

2.outside sales : we sell our product outside involve meeting with a customer in a person by
setting of appointment.

3. Wholesale selling: we sales our product in bulk in the market and let them sell directly
to customer .
 Sales and distribution channel
We are planning to launch our product in patna market which will be distributed through
various online and offline stores such as flipkart, amazon, company’s own website etc.
The channels through which we are planning to distribute our products are as follows:
1. Flipkart- it is an e commerce platform which connects buyers and sellers digitally to
incur an exchange process where sellers are responsible to provide the value
proposition to customers by giving variety of choices and thus fulfilling their needs. It
is a platform where all products categories such as from consumer electronics to
groceries everything is available at one place.

2. Amazon. It is one of india’s largest marketplaces which provides a wider reach to

customers. It also deals with the products such as electronics, lifestyle, baby products
etc. We are considering this platform as one of our distribution channels to get the
availability of huge amazon customer base.

3. Social media marketing- we are living in the digitized world where everybody is on
different social media platforms which is evolving day by day. We are considering
social media marketing such as flipkart, instagram and snapchat where we will be able
to attain our target market.

4. Offline stores- we are planning to launch our product at offline stores in patna market
so that it becomes easier for the people living in nearby areas to come to the stores
and purchase our fitness tracker.

5. Company’s website- we are also planning to launch our product through it’s own
website in order to make sure that people will get our product everywhere and thus
simultaneously increasing the brand image.

We expect to launch on 50-50 basis on each of these channels that is we have planned to
launch it 50% online and 50% in stores.
To survive in a competitive market, brands must be agile. Today, consumers expect to
interact with brands via many channels. They want to buy in-store, via a company site, from
third-party platforms, and even on social media.
A distribution channel is the entire journey a product takes to get from you to its end-user. It
could be that your store or website is all that’s involved. That’s the case if you’re a direct to
consumer (d2c) brand. You sell your lines straight to their end-users. Not all distribution
channels are as straightforward, though.
 7p’s

1.product – fitness tracker is a type of smart watch which helps in monitoring blood pressure,
pulse rate and many more and it is used by all age group.
Our product omega-1 will be launched under the fitness tracker market segment. It is not just

a product that we are offering but also an experience.

Our product omega-1 is loaded with all essential features such as vitals measurement and bp
monitor along with the addition of new body temperature feature.
Also we are providing sound based fun activities through which customer can earn reward
points while taking steps and redeem it at their nearest favourite sports store. We are planning
to place our product under shopping type of consumer product.
We are also offering warranty and free replacement for internal damages for a span of 1 year.

1. Place – we are offering our product on different e commerce platforms such as

flipkart, amazon and tata cliq as well as at offline stores.
2. Price – before fixing the price for fitness tracker the firm sustain the complex
estimation of financial opppurtunities. The firm must set the price by evaluating their
competitor price if the competitor selling same product at high price then another firm
must sell it at reasonable price. We are offering our product at an affordable price as
compare to our competitors. Being a new entrant in the market, setting a price lower
as compared to competitors will help us attract more customer.
3. Place-
4. Promotion – we are planning to do influencer marketing via instagram, youtube,
facebook and other media communication in order to have a wide customer reach.
5. People –our company is staffed with a group of skilled and experienced individuals
who are trained in such a way that they can easily solve the customer query and
thereby increasing the customer satisfaction.
6. Process – it is the process of delivering fitness tracker to the consumer which should
be design for maximum efficiency and reliability. Process is like system and tactics
through which we deliver our product or service to the final customer. The company
activities are always aiming to match the market conditions. Fit freak gives high
importance to every aspect of the development and of the customer experience, trying
to integrate the company “culture” in all the interactions the user has with it. Our
process is more about the customer interface between the business and consumer and
how we deal with each other throughout the process.
7. Physical evidence - this means that whether customers like fitness tracker or not and
what is their experienced with that product either good or bad.
 summary

Omega-1, whose target market will begin from teenagers who are either just starting to get
interested in fitness activities or just want a style statement, and include all age groups from
there to golden agers who are in dire need of a device that will keep them and their loved
ones informed about their vitals 24*7. This product will launch new and never seen before
features like body temperature sensor and gaming facility. It will begin it’s sale from the
patna market and will eventually focus on expanding it’s market. This product will focus on
targeting the middle-class men and it’s pricing will be affordable.