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Mixed Media Technologies, Inc. Presented By Stacy Plotnick Shawne Shaffer Bimal Patel Tom Donaldson Tammy Harvey. Overview of Presentation. Introduction Evaluation of Christmas Promotion Competitor Analysis SWOT Analysis Recommendation for New Marketing Strategy Q and A Session. - PowerPoint PPT Presentation
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Mixed Media Technologies, Inc
Presented By
Stacy PlotnickStacy PlotnickShawne ShafferShawne Shaffer
Bimal PatelBimal PatelTom DonaldsonTom DonaldsonTammy HarveyTammy Harvey
Overview of PresentationOverview of Presentation
Introduction Evaluation of Christmas Promotion Competitor Analysis SWOT Analysis Recommendation for New Marketing StrategyQ and A Session
IntroductionIntroduction Mixed Media Technologies, Inc. (“MMT”)
Independent Retail Store Managed by Josh Sullivan
Products/ServicesHigh quality equipment for multimedia presentations
(color scanners, video & digital cameras, video/audio editing equip and projection equip)
Video Editing ServicesEach job receives individual attentionFree graphics consultation service and professional advice
Special Orders per Customer’s Request
IntroductionIntroduction Location
Near Area Similar to Downtown PhiladelphiaNear Large University (Penn, Drexel, Art Institute
of Philadelphia)
Current Target MarketsArea School Boards Industries Universities Serious Amateurs/Professionals
Introduction Introduction
Sales Staff4 Full-Time Clerks2 Outside Sales Reps
RevenuesMajority of Sales Received via Phone or Mail Minimal Over the Counter SalesVideo Editing Services to Industries25% Discount Offered to Customers Purchasing $2,000/year
Introduction Introduction
Challenge:How can Josh Sullivan increase MMT’s profits and
sales?Failed Christmas Promotion
Evaluation of Christmas PromotionEvaluation of Christmas Promotion
Goal Of Promotion Expand sales during Christmas season Sell at least 100 digital cameras
Strategy Pre-Christmas sale of 2 popular brands of digital cameras Discount prices to compete with discount stores
Outcome Only 5 cameras were sold!
Evaluation of Christmas PromotionEvaluation of Christmas PromotionWhy this Strategy?•Trade experts suggested that sales of digital cameras in the low price and low quality range were up 200% from last Christmas
Evaluation of Christmas PromotionEvaluation of Christmas PromotionReasons for failed Promotion:
• Promotion is targeted to general public vs. MMT’s target market of Serious Amateurs and Professionals
• 4Ps do not satisfy general public or MMT’s target market
• Strategy to sell low cost, low quality digital cameras is based on wrong target market and inappropriate marketing mix
Target Market
Marketing Mix
Marketing Strategy
+
Evaluation of Christmas PromotionEvaluation of Christmas Promotion
Product - Does product satisfy target market? NO!
MMT only offers two brands of cameras General Public usually shops at larger retail outlets that offer a great variety of digital cameras
Place - Does MMT reach the target market with this promotion?
NO! MMT’s shoppers are Serious Amateurs and Professionals, not general public General Public shops for Christmas gifts in malls or large, suburban shopping center
Evaluation of Christmas PromotionEvaluation of Christmas Promotion
Promotion-Does promotion tell target market that this product is for
them? NO! Local Newspaper ad in the “Suggested Gift Giving” section gets lost among discount
store ads - mass selling Big signs in the store windows targets current MMT shoppers who want higher quality -
sales promotion
Price - Does price meet target customers’ expectations? NO!
Price reductions still not comparable to large discount stores that have economies of scale
General Public would not go to specialty shop to get best price on a popular brand of digital camera
Competitor Analysis: Products recap
Competitor Analysis: Products recap
Services
Video Editing Video ProductionGraphics ConsultationAudio Editing
Goods SoldStill Camera, Video Camera, Digital Camera35mm, Electronics, and Overhead ProjectorsBeta cam tapes, recordable CDsScanners for computersLow range digital cameras for PCsAcetates used for color printersVideo and audio editing equipments.
Competitor Analysis: Manufacturers
Competitor Analysis: Manufacturers
Goods Sold can be broadly classified into Photography products and Presentation products. Leading Manufacturers for each category are:
Cannon
Nikon
Hitachi
SharpPanasonicSonySamsungKodakNECEpson
Photography Products
Proxima
Infocus
3M
PhillipsDukaneJVCnViewADTechPolaroidEpsonSony
Presentation Products
Local National Competitor
Presentation Product Competitors Photography Competitors
MMT's Current and Planned Strategy AVHQ/AVSC/APS/ITA Strengths(+) Weaknesses(-) Ritz Camera Strengths(+) Weaknesses(-)
Target Market Amateur/Serious Photographers(+)Educational Institution(+)Industrial Presenters(+)
Educational Institution(+)Industrial Presenters(+)
Amateur/Serious Photographers(+)
Product Amateur/Serious Photography Equipment/Supplies(+)Presentations Products& Services(+)Audio/Video products & Services(+)
One Stop Sales/Rental/Repair of AV and presentation products(+)Nationwide Conference Center and Show support centers(+)Competitors offer integrated services with the place and meeting place like the conference room etc(+)Web cast Products and Services (+)Online Meeting Products and Technical Support (+)highlights company experience and professional/trained staff(+)
Amateur/Serious Photography Equipment/Supplies
Place Single Location (-)Prime Business Location(+)No Online Presence(-)
Multiple Location (+)Prime Business Loc(+)Online Presence (+)
Multiple Locations(+)Prime Business Locations(malls)www.ritzcamera.com (+)
Promotion $2000 Annual Sale Discount (+)Free Graphics Consultation (+)
Online Promotions Franchising Promotion Advantages
Price Competitive Highly Competitive (+) Moderate with personal attention
Competitive Barrier Cannot compete in New Media technology like Flash ppt (-)Cannot compete with nationwide service providers(-)Cannot compete with integrated service providers(-)Loyal/returning Customers (+)
Established customer for local competitor means more resistance in penetrating markets(-)Personal attention becomes an expensive deal(-)
More familiarity among public(+)Big Advertising budgets (+)Higher Variety of products (+)
Likely Responses More Advertising
Competitor Analysis: National CompetitorsCompetitor Analysis: National Competitors
Competitor Analysis: Regional/Local Competitors
Competitor Analysis: Regional/Local Competitors
Local Regional/Local Competitor
Presentation Product Competitors Photography Competitors
MMT's Current and Planned Strategy TELAV/AVC Strengths(+) Weaknesses(-) Winnipeg Strengths(+) Weaknesses(-)
Target Market Amateur/Serious Photographers(+)Educational Institution(+)Industrial Presenters(+)
Educational Institution(+)Industrial Presenters(+)
Amateur/Serious Photographers(+)
Product Amateur/Serious Photography Equipment/Supplies(+)Presentations Products& Services(+)Audio/Video products & Services(+)
Sales and Rental of AV and presentation products(+)Smart Board Integration Technology(+)
Simultaneous Interpretations(+)
Amateur/Serious Photography Equipment/Supplies
Place Single Location (-)Prime Business Location(+)No Online Presence(-)
Multiple Locations (+)Prime Business Loc(+)May/May not be online
Multiple Locations(+)Prime Business Locations(malls)May/May not be online
Promotion $2000 Annual Sale Discount (+)Free Graphics Consultation (+)
Price Competitive Moderate prices Moderate prices
Competitive Barrier Cannot compete in New Media technology like Flash ppt (-)Cannot compete with integrated service providers(-)Loyal/returning Customers (+)
Purely regional Purely regional
Likely Responses More Advertising
Competitor Analysis: Potential CompetitorsCompetitor Analysis: Potential CompetitorsLocal Potential Competitors
Presentation Product Competitors
Presentation Product Competitors
Photography Competitors
MMT's Current and Planned Strategy Impactbuilder.com Strengths(+) Weaknesses(-)
Leasing Manufacturers Strengths(+) Weaknesses(-)
Sellers of Low end digital cameras with good photo editing software
Target Market Amateur/Serious Photographers(+)Educational Institution(+)Industrial Presenters(+)
Educational Institution(+)Industrial Presenters(+)
Educational Institution(+)Industrial Presenters(+)
Amateur/Serious Photographers(+)
Product Amateur/Serious Photography Equipment/Supplies(+)Presentations Products& Services(+)Audio/Video products & Services(+)
Online Flash Presentation preparation Service(+)
Leasing new and refurbished presentation products with repair services(+)
Low to mid range digital cameras(+)High quality photography software(+)
Place Single Location (-)Prime Business Location(+)No Online Presence(-)
Purely Online (+) Single Location(-)Important Business Contacts (+)
Single/multiple locations(+)
Promotion $2000 Annual Sale Discount (+)Free Graphics Consultation (+)
Free Trial Free I year repair contract Lucrative payment plan
Price Competitive Competitive ($245/ppt) Highly Competitive
Competitive Barrier
Cannot compete in New Media technology like Flash ppt (-)
Likely Responses
SWOT Analysis: Strengths
SWOT Analysis: Strengths
Growth in Digital Media Market Location: Metropolitan Area & Universities/Businesses Knowledgeable & Persistent Customer Base Development of Amateur Photo/Video Market High Quality Product Lines & Personalized Services Increased need for alternatives to face-to-face
communication including flexible media technologies
SWOT Analysis: Weaknesses
SWOT Analysis: Weaknesses
Inability to Compete with Larger Discount Stores Incapacity to buy discounted large amounts of high
quality equipment Companies Recent Sluggish Spending on Upgrades of
Existing Media Systems Failure to Make Gains in Inexpensive Digital Camera
Market Lack of Focused Promotions towards high-end Media
Services & Products
SWOT Analysis: Opportunities SWOT Analysis: Opportunities
Over all Increase in the Mixed Media Market Growth of Amateur Digital Media Market Development of Amateur Video Editing Market Increase in Mixed Media Video Conferencing
Increasing Potential Customer Base (Accessibility to Technology to the Average Consumer)
Academic Reliance on Media Technologies Trend in Businesses Outsourcing Specialized Media Needs Establishing Online Presence Offering Products and
Customer Support
SWOT Analysis: Threats SWOT Analysis: Threats
Technological Advances Over Shadowing MMT’s Expertise and Experience
Large Discount Stores ability to Undercut MMT’s Prices by Economies of Scale
Globalization of Business Through Internet Sales Advances in Personal Computer Applications and
Hardware Allowing Advance Editing and “Dark Room” Capabilities by the Amateur Consumer
New Marketing Strategy New Marketing Strategy Position MMT as a high quality, full service audio visual
rental/sales companySupply equipment and associated services for presentations, conferences,
conventions and business meetingsContinue to Offer High Quality Digital Cameras
Product Development, e.g. offer new products lease, rent and service to current markets.
Hire additional technical support services personnel to differentiate MMT from competitors
New Marketing Strategy: Product
New Marketing Strategy: Product Sales: Lease/Rent/Sell high quality audio visual equipment
CamerasAudio Recording DevicesOverhead ProjectsLCD Data Projectors35mm Slide projectorsVideo ProjectorsScreens/Monitors (Plasma)AV Accessories (e.g. laser pointers, flip charts, projector stands)Used Equipment
Services: Provide services to enhance buyer’s enjoyment of the product offeringsPick-up and delivery of all products free of charge Offer Set-up/Break-down and operator services for presentations on an hourly basis Establish a product support e-mail address for technical questions Offering a free loner while a piece of equipment is being serviced
New Marketing Strategy: Place
New Marketing Strategy: Place
Maintain downtown locationSend support staff and service staff to work in-house at
customer locations Establish a web-site where customers can learn about
equipment and services and place orders on-line
New Marketing Strategy: Promotion
New Marketing Strategy: Promotion
Business to Business promotion Personal selling (important in a business professional service
offering such as the consulting services.) Sales coupons for students and teachers at local universities Volume and frequency discounts Yellow PagesFlyersAdvertise Online at Rental.com
New Marketing Strategy: Price
New Marketing Strategy: Price
Offer competitive prices with discounts for high volume customers taking into account entire product mix, e.g. service
Businesses tend to be less emotional with buying and look more to price
Service offering, if successful, will enable MMT to increase prices as demand for product/service mix increases
Huuh ! We have Done it Huuh ! We have Done it
Any Questions ?Any Questions ?