Target Market And Projection Marketing Essay

Target commercialize And Projection merchandise EssayIkatan Sdn Bhd that grant engineering visord exit be officially register and furnish is in Shah Alam, Selangor. Ikatan Sdn Bhd aims to be the most competitive and secure community in reserve technology harvest. Our line of channel concept is basically to entrust technology devices that mainly focus on ultrasonic quad cards.Besides that, we overly provide services for the intersection points especially for precaution. Warranty for 1 category leave behind be issued to the guest.To get to us, the client kindleister contact us with appear delay to our office number, fax or by internet. Our customer services argon ready to help you with accurate avowation.1.1.2 proceeds ConceptOur carrefour is busted cost, aboveboard to use, heavy duty and environment friendly. Once an direct is confirmed, we entrust send our staff to go over costumiers key out to come back our proceeds. actualizely prices quoted ar inclusive of relevant taxes in Malaysia. The customer may generate some amount of deposit forwards completing the payment. Transportation fees testament be charge.Our crossing lead antecedent according to the customers land atomic number 18a. Our ingathering similarly ass be adjusted to the customers breeding on how stag they can measure the blank.1.1.3We require already classified our fag mess which we think could bring a truly high profit monthly. In our case, we had agreed to divide the come on commercialise into some categories which are aim customers and target places.For the target customer, we keep tierce types of people which are asserter, university and retailer. For diverse type of people, in that location would be different rate of charge since we consciously consider their economic ability and stability.1.1.4 The war-ridden AdvantagesAs originate of the merchandise n business world, we cannot run and avoid from competitors. This is the ch allenge that we energise to face. So in establish to be constantly competitive, we find outd to innovate the veri give in availability of technology in measuring and making it for easier, user friendly, moo cost and the most cardinal thing is environmental friendly. Our overlap skilful system will be positive by our research discussion section which uses up to date technology and easy maintenance. With that, we are sure that our keep participation can compete with other competitors at the highest level in technology.2.0 growth DESCRIPTIONA measuring tape is the common similarlyl in measuring length and distance. However, the nature of the tool requires the user to pull out the tape according to the length that wanted to be measured. This can be problematic when the length is quite long or when measuring height and difficult places. By replacing the tape with an ultrasonic pulse, the inconvenience can be overcome. Ultrasonic pulse greatly simplifies the process of stra ight cable quantity. This ultrasonic pulse give advantage to user who want to measure at difficult place much(prenominal) as behind the console table that the tape cannot make up or measuring the height of ceiling go for 2.1 front view of Ultrasonic Distance MeasureFigure 2.2 pick up of Ultrasonic Distance Measure2.1 Product specificationAuto check over switches off if you do not press any key for 4 min.LCD screen on a luminous background.Memory allows you to measure and to store 3 different measuresCalculation of area and volume.Addition and tax deduction function allows you to add or subtract 2 measures.Clearing of reminiscence function allow you to delete quickly all the measures stored.Correction of errors the distance measurer indicates that a distance measured is either too long, or too short.Power supply 1 x 9V Alkaline type outpouring (Not include)Units of Measure Feet/MetersAccuracy +/-0.5%Frequency 40 kHz (ultrasonic pickup)Range 0.91m to 20mDimensions (H-P-l) 142 x 73 x 47mmWeight (without battery) 144.6g3.0 TECHNOLOGY DESCRIPTIONUses ultrasonic wave(40kHz)Generated in a particular direction. If there is an impersonal in the path of this pulse, part or all of the pulse will be reflected back to the transmitter as anechoand can be detected through the liquidator path.Bymeasuring the difference between the pulse being genetic and the echo being received, it is possible to image how off the beaten track(predicate) away the object is.The input of the product is the time of taken for the ultrasonic pulse retract back from an object.Uses LCD to display measurement.Have backlight for easy reading of the measurementMARKET RESEARCH AND ANALYSIS commercialize size is the estimation how self-aggrandising our market can be in our market area. In coiffe to fall the market size in the area, we might contrive 1 of our staff to stand with a clipboard and a sample menu in front of the space and ask pedestrians if they would frequent such(p renominal) an establishment. He will park himself on the corner one early morning and do the same at noon, evening and on a weekend to determine how many customers we can expect on a daily basis. This similarly will be particularly important when throwning a budget. For any company, merchandising plan is the most important part of the business.There are no uses of heartfelt calibre product if the company fails to sell the product maximally. The respectable selling plan should study about the customer behavior, what the customers call for and wants, which are the voltage purchaseers and how to satisfy the customers.CustomerFor our business, we did some research for the targeting customers. We have classified our customers in some categories. They are contractors, university and retailer. Because of limited resources and competition in our market, we hesitant that we are able to sell our product with equal competency and services to the entire market. Therefore, before we de cide which market to enter, we analyze the topper potential buyers exploitation market segmentation. We divided our market segmentation into three groups to offer our product with different market mixGroup 1 contractors.Group 2 university/collegeGroup 3 retailerA contractor is a group or individual that contracts with another brass or individual (the avoucher) for the construction, renovation or demolition of a building, road or other structure. A general contractor is defined as such if it is the signatory as the builder of the rosiness construction contract for the chore.Contractors conducting guide for government agencies are typically referred to as prime contractors. The responsibilities of a prime contractors working under a contract are essentially give care to those outlined above. So that why we target our market to contractor, so that we can get many benefit from them.Our secondary customer is university/college. A university is an mental institution of higher edu cation and research, which grants academic degrees in a variety of subjects. A university is a corporation that provides both undergraduate education and postgraduate education. We target university because their student maybe will use electronic devices for the certain courses such as engineering, architecture and many more.Next costumer is retailer. For retailer, we will deliver our products at them and they will support and display it at costumer like civilian, student and anyone who wants to buy it. Primarily, we have planned a fine and streamlined services to offer our customers. Our service is with respect to the customers demand. Customers can directly reach us by dropping by to our company at Shah Alam. We will strive in order to improve our services and meet our customers ask and ecstasy.4.2 Market size of it and TrendsFigure 4.2 Current Total Market Size for Three Consecutive Most Previous YearsThe size of the online wide market is thoroughly taken consecutively s ince year 2008 until year 2010 and represented in a bar chart as above. As visualized, the size of the current total market in 2008 is 2850 units. For year 2009 and 2010, total market size is slightly increases to 2904 units. In the following year, the total size is much get out among those after year 2008 when achieved to 2904 units.CompetitorsStrengthsWeaknessesTechshop try high superior of materials most expensive Not have too much run acrossKurnia Tech one year warranty most expensiveJuana Sdn Bhd cheapest product among all no warrantyiRaybull Enterprise proficient service They have many competitorseven the location arestrategicTable 4.2 Major Competitors4.3 Competition and Competitive EdgeAs we can see from comparison table above, there are four (4) main competitors with the same interest. The four main competitors are Techshop Enterprise, Kurnia Tech, Juana Sdn Bhd and iRaybull Enterprise. Many costumers are preferably to go among these four companies due to their strengt hs in market. However, there are some weaknesses for these companies. We successfully encountered their strengths and weaknesses as shown in the table above. This is to ensure that our company is different and far better than them.As for us we provide quality, affordable and reasonable price, on time schedule of installation, simple yet revolutionary and advanced technology, good service, friendly workers, and maintenance free. By providing all these features, we are not only giving benefits to our business only when also to customers. They will find our new programmed product and service is better than others could offer. We do not need to hire foreign employees to work with us our own native is better than them. This will help to improve and to show others that we are also competent as we successfully create such technology which is the first in country. This will shake our competitors a bit.The unsounded value that had been added to our service is the main thing about custome r satisfaction and guarantee. Customers are always right, that what we use. To make sure customer is always right, the redirect examination of our service and product is continuously. This can ensure customer feel good and happy with service given and product sell, also, increase marketing of company.4.4 Estimated Market Share and Sales4.4.1 Market ShareMarket share before Ikatan Sdn BhdMarket share after tree month Ikatan Sdn Bhd enter4.5 Marketing Strategy4.5.1 Strengths and Weakness of CompetitorsOur product has several competitors such as Techshop Enterprise, Kurnia Tech, Juana Sdn Bhd , iRaybull Enterprise and others. All competitors have their own strengths and weaknesses.In general, all the competitors strengths areThey have a stable financial with a good reserve of right due to their amount of years the company has established in the market.Their company is well-known.They have regular customers.The qualities of their products are proven.They have good promotion strategies .They provide good services.They have good in take over the customerThe competitors weaknesses areThey sell their product with higher price.They dont have any market plan for their customers.The location is not suitable.The working hours is not flexibleFrom our researched, we decide that our marketing strategy is based on marketing mix. Below are the results of the researchProductIkatan Sdn Bhd provides the product where the customers can get many benefit from using our product.PriceWe promote the product in a glower price compare to other competitorLocationWe locate our company at the strategic place that easily for customerto come and buy it.PromotionFor the promotion, we use the pamphlet to approach our market target. Apart from that, we also uses our communication skills to persuade the customers and convince them that our product can give more benefit to them.4.5.2 Overall Marketing StrategyFor our product ultrasonic distance measurer, we have come out with some business strat egies in order to deliver a convincing promotionSignboard or signage at appropriate place and clearly visible.Provide legal transfer services to the costumer who has order the product and that will make easier for customer to take order.We will spread widely the pamphlet to the retailer and other customer to promote our product4.5.3 Sales TacticsIkatan Sdn Bhd sales tactics are oblige by its sales forces and direct mail. Marketing department has already back up by sales forces hired by top prudence in order to distribute company information and to promote product specialties to customers. Moreover, Ikatan Sdn Bhd has developed its own website which initiated by those sales forces and company software engineers from Engineering Department. through mail, it will be more convenience for customers to reach companys products and thus own them via internet purchasing which is easier, faster, and most importantly secured.4.5.4 Advertising and Promotion stage business CardAll the bo ard of company directors will be provide with business card as an advertising method when dealing with the customers. cuspWe use high quality and captivateive pamphlets to give good comprehension to our customers together with the information about our company.SignboardWe apply high quality and coloring signboard at nearest area to attractive customers assumes them to scream and gain to try in our company.Website4.5.6 scattering1. Distribution to Contractor2. Distribution to University/College3. Distribution to Retailer5.0 MANAGEMENT TEAMChief executive officeholder (CEO)MOHD ZULHIMI store ZAILANI860605-56-6905Administration ExecutiveMUHAMMAD REDHUWAN BIN ZAINI870120-10-5667Operation ExecutiveABDUL MUID BIN MOHD SALEH870103-03-5185Finance ExecutiveMOHAMAD ZULFADLI BIN MOHD ALI870729-10-5333Marketing ExecutiveMOHD IZZUDDIN BIN MOHD YUNAN860410-56-61635.1 home DescriptionPositionDescription1Chief Executive officer(CEO)Provide leadership to ensure that the mission, ethical se t and core manoeuvre principles of the gild are put into practice.Lead the executive concern squad to be effective developers of solutions to business challenges thereby establishing credibility throughout the organization and with the Board.Responsible for driving the Company to achieve and surpass sales, profitability, cash flow, business goals and objectives.Motivate and lead a high-performance care team attract recruit members of the executive team not currently in place and retain the executive leadership team provide mentoring as a cornerstone to the competement career development program.Represent the Company and its values with customers, vendors, shareholders, government and regulatory bodies, other stakeholders and the public generally.Support the recruitment, selection, individual development and monitoring of the executive management team and other senior management personnel to ensure the Company maintains a strong succession plan. spearhead the development, comm unication and performance of effective growth strategies and processes.Collaborate with the executive management team to develop and implement plans for the operational infrastructure of systems, processes and personnel knowing to accommodate the growth objectives of the Company.2Administration ExecutiveProvide secretarial / administrative support to the Company Senior ManagementReporting to trading trading operations Manager on the day to day operations related issues.Preparing operations reports and analyzing the effectiveness and efficiency of the overall operations functionsResponsible for requisition and maintenance of office equipment including furniture and fixture, telephone system, keysResponsible for printing of office stationeries, including envelopes, letterhead, relieve oneself cardCoordinate documents for approvalCommunicate with internal and external parties on matters related to administration / office management activitiesLiaise with the building management on building management matters e.g. car park, maintenance, safety etc. replenishment of License, Insurance, Contract, Advertisement3Finance ExecutiveProvides leadership for the entire sales and sales support organization in the sales, support and implementation of Company products and services.Develop and manage account plans/profilesCreate and develop customer solutions and sales proposals.Lead in the negotiation of long-term contracts.Attain and exceed count sales objectives for Company products and services.Identify, understand and analyze product sales applications, new product opportunities and innovative new sales ideas.Develop sales forecasts and manage them on a bi-monthly basis and submit to management.4Marketing ExecutiveCreate marketing plans geared toward end users for each key product within portfolio, in line with strategy and targets and within budget.Work with the in-house fountain to produce materials of visual impact and within brand guidelines.Work with the busines s innovations department to develop new ideas for reaching end user markets using the latest in electronic technologies.Communicate to rest of marketing team about new innovations and how they can be used to leverage marketing efforts.Write copy for each product, reflecting key messages, features and benefits.Involve key stakeholders for product at each stage of campaign, and report results once completed.Preparation delivery of marketing plan within key objective.Events planning, organization and execution.Copy composing of articles, marketing materials etc.Liaison with media and publishers as requiredEnsuring that all marketing materials do no deviate from the establishedBrand image of the business.Market research and competitor analysis.Maintains up to date with professional sector news. supporting(a) the development of the website.Focus on both business growth and thickening retention.Use email, ad words and other electronic marketing techniques to inform customers of new pro ducts and generate sales.5Operation ExecutiveResponsible for undisturbed execution of training programmers and eventsResponsible for providing administrative supportAccountable and credi bothrthy for the entire events and programmers from initiation to closingWilling to work flexible hours whenever needful including weekends.6.0 FINANCIAL PLANThe administration, marketing and operational is important in a business plan. However without any proper financial planning the implementation of a business is net worth it. From the data and information that included in the financial plan, it will help the company to evaluate their ability in managing their financial in order to run the business. pecuniary plan is the plan that shows the short term financial requirement in order to start a new business. It also shows how the requirement can finance the business using internal and external source. Beside that it can prove the reliable information about changes ion net resource resulting from profit directed activities.Financial planning is the last thing to prepare in this project to complete the business plan. It consists of total expenditure and budget to establish a good business. All the expenditure is such as administration, marketing, and operation budget. Actually, the basic objective of financial plan is to provide financial information which is important in determining some economic decision. Financial information is not information which is needed to be considered in making decision, but it is more important than that. We can say that, every decision make will base on financial information.6.1 Purpose of financial planTo analyze the project and financial planTo ensure the initial capital are adequate, ability and sufficientTo identify the purpose and relevant source of fundTo determine the amount of loan re-payment and depreciation of fund fixed assetTo esteem availability before actual investment is committedTo evaluate how far or potential return on invest mentTo make a party such as a financial institution to be confidence with the financial of the company in order to make a business loan6.2 Strategies of financial plan shits sure that company have sufficient amount of cash in order to take trade discount, to maintain credit rating and to meet unexpected cash needGive advice and opinion to other department such as administration, marketing and operation in order to reach the business purposeMake sure the increase in business profit at the good stage and better performingMake sure that cash was used good and effectively without wastage in expensesTry to seek business chance in order to increase the financial strength or wealth of economySALES AND PURCHASE PROJECTIONPROJECT IMPLEMENTATION live SCHEDULEADMINISTRATIVE, MARKETING, AND OPERATION BUDGETActivitiesStartDeadlinesBusiness registration15 Oct 20102 Nov 2010Trade mark registraton20 Oct 20105 Nov 2010Labours intake15 December 200925 Feb 2010Start production1 Nov 201028 Nov 2010 Product promotion15 Dec 20102 March 2011Trial product15 Dec 20101 Jan 2011First sale2 Feb 201131 August 20117.0 PROJECT MILESTONESHere are the project milestones for our company.7.0 CONCLUSIONIt can be conclude that Ultrasonic Distance Measure has great potential to penetrate into the market due to low prize and high efficient usage. This was confidently proven by our experts through researches, surveys and development for more than two years. I believe this product will be successfully achieves our target sales.As a management team of Ikatan Sdn Bhd, we need to fulfill our customer needed. So, the good relationship between supplier and customer are very important. We are promise to give 100% commitment to our company.9.0 APPENDICESFigure 9.1 exhibit of Ultrasonic Distance MeasureFigure 9.2 Technology used of our productFigure 9.3 Maps of our company located