need this question answered about product paper below please A description of how your marketing efforts will change with each phase in the product life cycle  Strategy and Positioning Team D Belissa Hogsten, Deshawn Taylor, Sean Speer and Kristen Wolf Professor Shannon Peterson MKT 421 April 6, 2015 Introduction to the Organization NLA Inc. was founded in 2015 by five University students from the University of Phoenix. NLA Inc., is independently funded and marked by the students which make up the marketing team. After online chat sessions one evening the team discussed losing different items throughout the week. The marketing team decided to create and market an item to help find lost items. Description of product NLA Inc. created a product that would be a press on disk that comes with an app that can be downloaded onto any phone, tablet, and some 2014 model vehicles equipped with app capabilities. The app and the first disk are sold together, and additional disks may be purchased and added to the app. The disk may be placed in a phone, child’s toy, remote control, or key ring. The device works with the installed app and shows the distance within a quarter of a mile of which the item can be located. The phone app will provide the distance along with a beep that will become more intense as the proximity of the lost item and then is located. The device must be sewn into the child’s stuffed animal to avoid a choking hazard. The disk will have a small opening in the middle to allow it to be sewn into the toy. The disk is revolutionized with a waterproof covering up to 10 feet in water. Each app sold can hold up to 20 different chips coded in it to be watched. Once loaded, the chips can be edited so the item is identified by the specific name of the owner rather than the chip number. SWOT Analysis for the Lost and Found Strengths Weaknesses Knowledge: The team is knowledgeable of what is needed to design and create the programming for the app. Each team member has a marketing background and knows how to attract consumers. History: NLA Inc has been local and are known and recognized for achievements with innovative products. Low cost Advertisement: Use social media as a way to help spread the news about the new product. Reputation: Not well known outside home community. This is the first time to market to consumers. Tangible Assets: The team has to have enough capital to support the initial startup costs. Business Location: A location must be determined on where production will occur. Costs of product: May be higher than initially planned because production is strictly overhead costs. Opportunities Threats Blue Ocean Strategy: No other item like it has been marketed. The opportunity for revenue is good. The supply and demand looks promising with hectic lifestyles. Suppliers: Will suppliers be found that will work with a new company? Competitors: Other companies may have more revenue and create a product similar to NLA.

1. need this question answered about product paper below please
A description of how your marketing efforts will change with
each phase in the product life cycle
Strategy and Positioning Team D
Belissa Hogsten, Deshawn Taylor, Sean Speer and Kristen Wolf
Professor Shannon Peterson
MKT 421
April 6, 2015
Introduction to the Organization
NLA Inc. was founded in 2015 by five University students from
the University of Phoenix. NLA Inc., is independently funded
and marked by the students which make up the marketing team.
After online chat sessions one evening the team discussed
losing different items throughout the week. The marketing team
decided to create and market an item to help find lost items.
Description of product
NLA Inc. created a product that would be a press on disk that
comes with an app that can be downloaded onto any phone,
tablet, and some 2014 model vehicles equipped with app

2. capabilities. The app and the first disk are sold together, and
additional disks may be purchased and added to the app.
The disk may be placed in a phone, child’s toy, remote control,
or key ring. The device works with the installed app and shows
the distance within a quarter of a mile of which the item can be
located. The phone app will provide the distance along with a
beep that will become more intense as the proximity of the lost
item and then is located.
The device must be sewn into the child’s stuffed animal to
avoid a choking hazard. The disk will have a small opening in
the middle to allow it to be sewn into the toy. The disk is
revolutionized with a waterproof covering up to 10 feet in
water. Each app sold can hold up to 20 different chips coded in
it to be watched. Once loaded, the chips can be edited so the
item is identified by the specific name of the owner rather than
the chip number.
SWOT Analysis for the Lost and Found
Strengths
Weaknesses
Knowledge: The team is knowledgeable of what is needed to
design and create the programming for the app. Each team
member has a marketing background and knows how to attract
consumers.
History: NLA Inc has been local and are known and recognized
for achievements with innovative products.
Low cost Advertisement: Use social media as a way to help
spread the news about the new product.
Reputation: Not well known outside home community. This is
the first time to market to consumers.

3. Tangible Assets: The team has to have enough capital to support
the initial startup costs.
Business Location: A location must be determined on where
production will occur.
Costs of product: May be higher than initially planned because
production is strictly overhead costs.
Opportunities
Threats
Blue Ocean Strategy: No other item like it has been marketed.
The opportunity for revenue is good.
The supply and demand looks promising with hectic lifestyles.
Suppliers: Will suppliers be found that will work with a new
company?
Competitors: Other companies may have more revenue and
create a product similar to NLA’s and outsource to provide
cheaper units.
Patent: Without enough revenue, a patent may not be obtained
and competitors may be able to patent first.
A competitive analysis of using Potter’s five competitive forces
Phoenix Group Inc. has designed a product which is used to
assist customers to find items that are lost by simply using their
phones to indicate where they are. This was done by developing
a small device which is fixed on the item that can be lost. Each
device will have a unique code which is accessible by the
phone. In order to facilitate communication between the phone
and the device, an app is installed on the phone which keeps

4. track of the location of the tracking device, consequently
showing the location of the item in which it is attached.
This device is designed in a way that it is tough and durable
enough to be attached to car keys without getting destroyed. It
is also designed to be safe enough to be attached to a small
child’s teddy bear without causing any possible harm to a
child. In the case the item that this device is attached gets lot,
the app installed on the customer’s phone will detect the
attached device and show the proximity of the device and the
customer will know exactly where to find the lost item. On the
other hand, if the phone gets lost, the customer will lose the
location of all items tracked using these devices. In order to
minimize this risk, the customer is advised to install the app on
two phones which will ensure that lose of tracked items is
minimized. This paper will analyze this organization using
Potter’s five competitive forces model.
Potter’s five competitive forces model states that there are five
factors that are significant in determining the competition
within an industry. These factors are; threats posed by new
entrants, the suppliers’ bargaining power, the customer’s
bargaining power, the level of aggressive competition and the
threat of alternate product. This tool is primarily used to
determine if a specific venture can be profitable and also shows
how power is balanced in other situations. Therefore, analyzing
an organization using this simple model will ensure that
potential profitability is measured (Porter, 1980).
First is the threat of new competing companies into the market.
Phoenix Group inc. specializes in a technical product which
requires great technical knowledge and skills to start up and
maintain. Furthermore, the cost of investment is very high
because of the high level of technical expertise and initial
capital for acquiring assets. In addition, this product requires
securing customer data and is therefore governed by strict legal
restrictions. All these factors make it very difficult for new
entrants to enter the market, limiting entry to only established
companies which are few in number. This means that the threat

5. of new entrants is minimal strengthening the market position of
Phoenix Group Inc (Porter, 1980).
Phoenix Group inc. will be solely responsible for developing
the tracking devices and the mobile phone app. This means that
the organization’s purchases are limited to raw materials.
However, there are generally many suppliers dealing with these
materials. According to Porter, (1980), the bargaining powers of
suppliers tend to go up if they are few or if the resources they
supply are scarce. In the case of phoenix though, the supplier is
not likely to exercise this power because of several competitors
in the market. This is also due to the fact that the demand for
their materials is not very high (Porter, 1980).
According to Porter, (1980), customers can also have a great
bargaining power. They may exercise this power by pressurizing
the company into price reductions or an increase in quality at
the same price. This can reduce the profits of the company.
However, phoenix Group inc. provides a product that is unique
and not readily available. This is because of the minimal
competition caused by the barriers to new entrants in the
market. Furthermore, the demand for this product is very high
because it can be used by virtually everyone who wants to track
their important belongings and prevent possible loss. This
technology is very effective and customers do not have a choice
of integrating backwards. This means that customers are not
advantaged to demand for reduction in prices.
Another issue that might determine the profitability of this
organization is the threat other products that may be used as
alternatives. Substitute products refer to things that can be used
to serve the same need as the product in question. These
products can be developed by different industries but meet the
same customer needs. Having many credible substitutes can
increase customer bargaining power and reduce the company’s
profits. Phoenix Group inc. is likely to enjoy great bargaining
power because of the unavailability of substitutes to their
tracking devices. This means that the company is advantaged
and maintains a high bargaining power (David, 2005).

6. Another factor in Potter’s model is the degree of competitive
rivalry. This suggest that if there is increase in rivalry,
businesses will be forced to engage in price reduction
competitions, to invest highly in innovations and development
of new products and to promote intensively through advertising
and sales promotions. All these activities can increase costs and
as a result, lower the profits of the company. This factor
depends on the number of competitors in the market and will be
higher in industries which have many competitors. It also
depends on the size of the market and its growth meaning that
competitive rivalry is more intense in stagnating markets
(Marburger & Business Expert Press, 2012).
The strength of buyers and also the availability of close
substitutes is likely to increase competitive rivalry. However,
Phoenix Group inc. is unlikely to be affected by competitive
rivalry because of the small number of competitors. In addition,
the demand for their product is high as it is has the potential to
solve a common problem among a very large population.
Therefore, new entrants coming into this market are not likely
to affect the market share because of the high demand and fewer
suppliers. This means that phoenix Group inc. is will be very
profitable and will command a large market share and a high
bargaining power (Marburger & Business Expert Press, 2012).
Criteria used to segment the market and select a target market
Market segmentation is the procedure of grouping different
customers into segments, which will respond in a similar
manner or have common needs to a marketing activity. Every
segment will respond to a diverse marketing mix strategy, each
of them providing alternative profit and growth opportunities. It
is practiced by many businesses in different forms, as a means
to streamline their strategy of
marketing. It is carried out by
dividing the broad-based target markets into specific consumer
groups, and inventing marketing methods that will appeal to
every group.

7. The lost and found device will provide a solution to the
problems associated with losing the teddy bears of the children,
cell phones, and car keys. The system will help in searching for
the lost items by the use of cell phones. The device is designed
in a way that when customers install the app on their cell
phones, they can trace the missing item by dialing the code
number of their mobile phones. It will show the proximity of
wherever the lost item is. Since the cell phones can get lost,
people are advised to install the app in two different cell
phones. This medium will also help in theft reduction. People
will be aware of the system and will be afraid of being caught
with the lost items.
According to Kotler (2008), a market segmentation criterion
that is clearly defined ensures that consumers are more likely to
recognize and buy the product, which is right for them. The
item should also be able to reduce resources wastage, minimize
the time used when marketing the wrong products to the wrong
consumers. It is important, though, to focus the resources on the
market segments with good profitability, size, and growth.
When planning the market segmentation strategy of the
company, the following market segmentation criteria is helpful
for the new lost and found device:
The market segment ought to be: Measurable- The market
segment of the new device will have one hundred customers in
each segment. Safety and durability- the new lost and found
system should be safe to use even when in a children’s teddy
bears. It should not cause any harm or have a negative effect on
the health of the kids. It should also be durable enough for the
car keys. This is because customers prefer products that are
long lasting but not those that are likely to get destroyed within
a period of one or two years. A substantial marketing budget
should not be wasted on a market segment that has spending
power, which is negligible or is not large enough. The market
segment of the new lost and found system is a homogenous
group with characteristics, which are clearly defined as brand
perception, age group, and socio-economic background.

8. Accessible-
Since am dealing with different market segments, I will use
different means such as social media campaigns, outdoor
advertising, television commercials, or any other tactic to
access consumers.
Accessible- Dealing with different market segments, requires
using different means such as social media campaigns, outdoor
advertising, television commercials, or any other tactic to
access consumers. Differentiable- The differences between the
market segments of the new lost and found device are clearly
defined, to make products, campaigns, and tools of marketing
applied to them easy to implement devoid of overlap.
Actionable-the new lost and found systems market segment has
a practical significance. The characteristic of its market
segment provides a supportive data for a sales approach or
marketing position. In turn, this leads to results that are easily
to quantify, idyllically in relation to the market segment
existing measurements as defined by original market research.
Some different ways in which to segment the market for the new
lost and found system are as follows; Demographics- the device
focuses on the customers with the following characteristics:
individuals aged between 20 to 40 years, income bracket
ranging from $681 and above per month, university graduates,
people with white-collar jobs, and flexible cultural background.
Psychographics- the market segment customer group’s lifestyle
are high social class, good lifestyle, famous people such as
celebrities, newsmakers, VIPs, and superstars, people with good
opinions, and positive attitudes. Behavioral-behavioral factors
are based on the behavior of the customer (Adcock, Halborg, &
Ross, 2001). The market segment will include those people who
do their shopping online, prior procurements, brand preference,
and those who shop at Shopping Centre, and Geographic-
geographic factors deal with the market segment location. The
market segment will be United States of America.
Once the market is segmented on the basis of the diverse classes

9. and groups, there is the need to select the targets. Being capable
of developing particular strategies for the target market is very
significant because no one strategy will be suitable for all
customer groups (McDonald & Dunbar, 2013). When focusing
on more than two market segments that are well defined, it is
pertinent to come up with different strategies for each market
segment, such as using the multi-segment targeting approach.
This approach provides many benefits though it can be very
expensive because it requires greater input from the
management, augmented market research and augmented
promotional strategies.
NLA’s Target Market and Needs that Influence Them to Buy
Perreault describes a target market as “a fairly homogeneous
(similar) group of customers to whom a company wishes to
appeal” (2011, p33). For NLA, this encompasses a broad
population of people who attribute enough value in their
possessions to feel the need or desire to safeguard them from
being lost, who seek the convenience and ability to track items
themselves, and who are willing to pay a particular price for a
product that provides those specifications.
“Most products must fill more than one need at the same time”
(Perreault, 2011). Emotional and logical drivers influence this
target market to buy for different reasons. From an emotional
standpoint, NLA understands this target market may become
attached to certain possessions which may inflict a fear of loss.
The psychological need that counteracts that fear may simply be
the power to track those items if an incident should occur where
the item was lost. This product also branches into an additional
emotional needs that Perreault defines as “status” (2011). This
type of need is often influenced greatly by a person’s peers and
social rings. Keeping these influences in mind assists NLA to
optimize its’ product marketability.
NLA's positioning statement
NLA's target market for the lost and found product concentrates
on the average consumer who often times may be distracted or

10. forgetful due to their busy lifestyles, and whom have many
possessions to track. One need that drives this target market to
purchase the app and chip combination includes understanding
the risk and cost to replace lost or stolen items such as cell
phones, or other technology related products. Secondly, it
provides a sense of security knowing products that consumer's
deem significantly sentimental in value, such as with a child's
favorite stuffed animal are traceable at any given moment.
The features and flexibility it provides makes the lost and found
product unique in its industry. NLA is considered part of the
high-tech industry organization, where innovation and
implementation of new and easy- to- use technology are critical
in maintaining long term success. This requires companies to
remain vigilant in researching current and future consumer
needs, and adapt quickly to changes in the market. NLA's
versatile lost and found product takes into account the various
types of products consumers may wish to apply this product to,
and ruggedized it to provide ultimate consumer satisfaction.
NLA's product addresses the target market's need by identifying
the many important parts to our daily life that can be lost and
need the ease of access we provide when finding them. Most
people have their phone on them or nearby at all times. NLA's
product solves the need of finding often misplaced items with
the item most people commonly know the whereabouts of at all
times. Our product also allows the client to find multiple items
of all sorts rather than focusing on just one particular asset.
Competition in this field is widespread but not overtly flexible.
LoJack is a company that offers this service for your vehicle.
“Find my iPhone” is a feature that Apple introduced for their
cell phones in order to locate your phones if it was lost or
stolen. There are also many different products in the
marketplace that are designed to find lost keys.
Our solution differs from our competition in both convenience
and in the expanse of applications it can reach. Where LoJack is
designed to find only your car, it is not you that is locating the
car and is not useful if you simply forgot where you parked. Our

11. product allows you to find your car if it was simply misplaced,
or guide police to the location if it was stolen. To use “Find my
iPhone” a person must have a computer with internet access to
locate their phone, which doesn’t help if you lost it at a concert,
or in your house or while hiking in a state park. When compared
to the key finding products, our product allows you to use your
phone to find your keys and eliminates the need for the bulky
and also commonly misplaced remote used to find your lost
keys. By allowing the user to locate any item they have
designated and giving the ease of using your phone as a remote
locator, we separate ourselves from all forms of the
competition.
O
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