ChargeCard: Marketing Plan Lizzy, Sarah, Cate, Christian, & Samhita

Summary of Situation Analysis ChargeCard was a project on

KickStarter Our product is the thinnest and most

compact USB charging device for Androids and iPhones.

With the ChargeCard embodying the shape of a business card, the product not only becomes portable but also fits into the lifestyle of men and women working in the business world

Summary of Situation Analysis

Researchers predict Smartphones will drive $20 billion in aftermarket accessory revenues in 2012.

ABI predicts Smartphone accessories revenues will grow to $38 billion by 2017.

Because of the insights and current trends in the market, we believe the timing of the marketing, selling and distributing our product is ideal

Perceptual Map

Price and Convenience Average price (skimming) Very convenient

Low Price

High Price

Not convenient

Very convenient

Positioning Strategy & Rationale

Position: to be the charging device that is most convenient and portable for you as it fits into your lifestyle

Key points of difference: Size and portability—ability to fit in your wallet and be transported wherever you go Simplicity and easy to use

Positioning Statements

Positioning Statement (Marketer’s perspective) For the trendy, technological business man or

woman on-the-go, ChargeCard is a sleek and portable charging device for your iPhone or other mobile phone device that fits into your lifestyle.

Positioning Statement (Consumer’s perspective) For those of us who are always on-the-go in

today’s fast-paced society, ChargeCard is the perfect solution as a charging device that is easy to use and portable.

Market Segment Profile

Market size: 37,028,796,000 are iPhone users in the workforce.

Geographic: iPhone users are concentrated in bigger cities, that happen to be centers for business and commerce.

Market Segment Profile

Target Consumer’s Values, Lifestyles, & Personality: iPhone users want to stay up-to-date with the latest technological advancements

Brands of Choice: Our selected demographics’ primary source of news is The Wall Street Journal. WIRED Magazine is a big influencer on ChargeCard’s target market, due to the technological and business theme topics that are discussed.

Market Segment Profile

Otterbox does a good job of researching what their target market, iPhone users, would be interested in.

Product

ChargeCard has a model for a variety of devices: iPhones, Android/Blackberry, or any micro-USB device.

Works with iPad, iPod and iPhone

Product

We would create a model for the iPhone 5, which is in increasing demand with people wanting to upgrade their phones Customers continue with the trend to

keep up with the latest trends and versions of products

We would have to keep up with that and the customers in making sure they are satisfied

Product

There isn’t much to change about the actual product (shape, functionality, etc.) but we would like to expand on designs in colors, especially appealing to the market of female professionals.

Product

We would like to focus on the packaging of our product.

We would like the packaging to be recognizable, similar to that of Apple products, such as a “cardboard wallet” or some sort of packaging that makes the connection between the consumer’s busy and “on-the-go” lifestyle and the product’s functionality and portability

Product

We have chosen not to rename or rebrand the ChargeCard

We believe the name is memorable, easy to say, and draws a comparison to a credit card that can easily fit into your wallet, which automatically hints at the product’s convenience and portability factors

Product

Brand’s personality consists of a personality that is convenient, sleek and trendy Fits into the customer’s lifestyle Technological and current Simplicity and portability

Tagline: “It’s there when you need it, and out of your way when you don’t”

Place

Areas where business people will come in contact with it without having to seek it out. Airports- travel a lot and have A lot of down time in airports to Wonder and see our product Business Magazines-Lots of businessMagazines people in the business world Read. Could have an ad for our product in it.

Place

Online- On CBS8.com, it was found that 12.91% of all online Cyber Monday sales were for mobile phones. The internet is so up-and-coming, and it’s a nice way to hit a mass audience easily.

Deals with other companies- Almost like a test market. Sometimes when a new product is made, it will be delivered to a company for the employees to use and create awareness and help figure out the glitches.

Brookstone/ AT&T and Verizon- maybe partnering with AT&T and Verizon to have them sold in stores as an alternative charger. We also think the consumers that would buy the Charge Card may also shop in brookstone.

Place

Selective distribution- want the public to see it, but also have a very specific group of people we are selling it to.

No matter what the place of distribution, we want our customers to be clear about the product they’re getting and either see the product in use, or experience using it themselves.

Price

Retail value set by creators at $25 Our price: $49.99 Skimming Strategy:

Enough consumers willing to buy Consumers will interpret higher price as

higher quality. Higher cost will cover high cost of

manufacturing. It is better to set price as high and then

lower later than to set as low initially and then raise price.

Promotion

Considering the average human is overwhelmed with “over 2000 outbound marketing interruptions per day”, people are figuring multiple ways to block them out.

“Get found” Strategy

Promotion

Inbound Marketing SEO (Search Engine Optimization) Speak at seminars of other companies Blogging and social media

Outbound Marketing “guerilla” Marketing Business Magazines

Promotion

Brand personality in relation to promotion strategy Brand: convenient, easy to use, sleek,

and compact▪ Strategy works with “on the go” theme

Market-Product Goals

Brand- focus on convenience and reasonable price.

Skimming- We think that because we do have a selective distribution and such a targeted market, that would be the best way to sell our product.

Market-Product Goals

Goals- Our quantitative goal is $150,000. If we sell a Charge Card at $49.99/card, we

think this goal can be reached. Because this started as a product on

Kickstarter, we believe there is a lot of potential for online sales.

So far, the Charge Card has 5, 428 backers, and they began with a goal of $50,000, but they have already surpassed that by generating a pledge amount of $161,897.

http://www.kickstarter.com/projects/nomad/chargecard-for-iphone?ref=live

Market-Product Goals

As stated previously, partnerships with other locations would add to the amount of sales, but we pinpoint most of our sales would come through online transactions

due to the fact that it’s already been so successful on Kickstarter.

Evaluation

Base future profit goals on assessment of test market

Factors: Number of purchases through distribution channels Overall sales/profit Consumer responses to marketing efforts

Lower price if consumers do not purchase initially

Re-assess profit goals and set higher if more consumers respond than expected