2. US Based imaging and projection technology
company
Current involved in a highly competitive
consumer electronic market.
Possible market entry strategy for Singapore
Fit with overall brand proposition and values
6. Political/Legal Economic
-Strong Developmental Model -14.5% GDP Growth 2010
-Recent Election Ensures Stability -Strengthening of Sing Dollar against
-Low Level of Existing Patents US Dollar
-Need to Register as PTE company -20% p.a. Consumer Electronics Market
Growth from 2009-2014 Forecasted
(Datamonitor)
Social Technological
-Outstanding Levels of Education -Growth of R&D Industry here
-Use of technology to Express -Friendly Academic Environment to
Individuality Business Research e.g. Science and
-High Density Population Engineering Research Council/NTU
-72% Smartphone penetration of all
mobile phones i.e. 3rd in World!
8. Patent ISO 9001 Economies
Portfolio of Scope
Yes Yes Yes
Valuable
Yes No Yes
Rare
Imitable No Yes Yes
Organization Yes Yes Yes
9. Threats Weaknesses
-Wide range of competitors -New To Asian Market
-Technology Life Cycle -Low Brand Awareness
-Small Company
Opportunities Strengths
-Young Market with many early -Technology
adopters (chance to become -Quality Management Standards
Synonymous with product here) -Supply Chain Management
-High Density Population means -Economies of Scope
word of mouth and trends travel fast -Partnerships/Alliances
-Smartphone Penetration already;
Complementary/Cross-Selling
Opportunities
11. Travelling sales people
On site sales staff
Technical product and
service sales people E.g.
Construction, Medical
Devices etc.
Companies with
regional sales offices
Sales Trainers and
Consultants
12. Almost 400,000 people employed in
construction sector in 2010
Set to grow at an annual basis of 6.8% until 2015
Pharmaceutical industry set to be worth 15
billion by 2015 and employ 15,000 people
Targeting of the Direct Selling Association of
Singapore (DSAS) and the Direct Marketing
Association of Singapore (DMAS)
13. Sophisticated
Essential sales tool to demonstrate value to
customers’ customers
Professional
Reliable
Practical
14. Away from retailing to B2B
Business tool of choice
Target Functional User
Vertical differentiation
Longer battery life
Smaller than standard projectors
Auto focus/Quick Setup
Sharper image and Tone
15. Features and Benefits
How we can add value
Demonstrations
The Customers’ Customer
Sale or Return
Show and Tell
16. Product Price
• Ultra portable Projector • Add value with accessories
• Auto focus • Discount structure
• High battery life • Commission structures
• Protective ‘ Business Edition’ • Direct to end user benefits
Packaging with additional elements
such as cables, carry case etc.
Place Promotion
• Direct Sales team • Selected Print Media
• Online ordering system • Business publications
• Partners • Inflight Magazines
• Online advertising/Social Media
• Trade Shows
• Sales conferences
• Branded products
17. ‘The highest quality at a
reasonable price’
Functional benefits- ease of
use, durability, high quality
picture any time any place
Emotional benefit- The feeling
of sophistication, impressive
to the customers customer
18. Sales people are called
‘ advisors’
Prompt Repair and
Service Support
Extended Warranty
NTU Presence
19. Become captain of the
supply chain process
Cut out the middle
man
Vertically integrated
Product placement
Ability to deliver large
amounts
instantaneously
20.
21. Developing and Educate
Leverage the technological/product
lifecycle…
…So we are in a position to enter the
integrated mobile projector market.
Timing is the key, the time to do this is now!
Market-ing Myopia
Editor's Notes
Farmleigh Fellowship Programme 2011Marketing Practices in Asia NTUProf. Hooi Den Huan
Current involved in a highly competitive consumer electronic Market.While sales are growing they have asked our consultants to look into possible new marketing strategiesThe following are our findings
Demonstration of Product to play linked video.
Uses Odhran’sidea of a matrices, for ranking competitors out of 5 different criteria (Sarvary, 2005)Substitute products- Projectors in conference rooms, Ipads, etcPotential for future competition, unless we can differentiate
Tangible, intangible and organizational capabilitiesDimensions- VIROEngineering focused culture
We need a strategy to increase brand awareness but that also recognises the changing technological dynamic in the market.
Identify the needs of consumers or segment by usersDouble Segmentation Based on mass market user groups currentlyBased on Needs of B2B segmentIdentification of Salesforce Sub-Segment for Target Market
Sales ppl on the move, attributes followed by examples Small sales staffThis strategy allows for few additional sales staffAllows for the highest return based on bulk purchasing and directed sales effortsPortability and ease of use as key unique selling point
Customer trends in the projector marketSales team are more and more likely to have smart phones and other portable devisesPico Projector allows sales people to carry their sales pitch in their pocketAdds sophistication to a sales pitch and to the employees sense of ‘coolness’
Market as a business toolWithin thesegment - longer battery life, smaller, auto focus, sharper imageVertical differentiation
Product sold on value to the customerTarget sales managersHighlight the emotional and functional benefitsHighlighting the customers customer (how?- highlight the ability for movies, gaming, kids entertainment)Demo periods/ trial periodsGiving the product away for little for specific placement purposes e.g. Sales training consultants and organizations, sales conferences
Product- picop!!! packaging, high quality/ branded, other cables/apps, carry case (branded)Place- direct sales force, agents, partnerships, online store, use mass selling website egiboodPromotion- print media, business publications, industry pubsTrade shows, trade conferences, social media- youtubeGood product literature- demo models (trial periods)Price- Above the RRP, but add value by adding in more cables i.e. car charger, quantity discount structure, agent commissions. Value based pricing. Eliminate the ‘middle man’. Minimal inventory.
‘Avoid the commodity-like trap’‘The highest quality at a reasonable price’Higher tech i.e. best quality, laser‘If it’s good enough for a soldiers survival, why not for your businesses?’Functional benefits- ease of use, durability, high quality picture any time any placeNever failsEmotional benefit- The feeling of sophistication, impressive to the customers customer
‘Avoid the business category trap’Warranty’s- flexible, allows us to say that we trust our product so much that we are willing to replace if brokenWe want to become a ‘trusted advisor’Sales people are called ‘ advisors’Cases and cables (branded)
‘Avoid the Function-Orientation trap’We produce the Projectors‘never leave a customer behind’ -military speakAny faulty products to be replaced within 3 days for exampleUse a training company to promote our product (product placement)Supply chain process to cut out the middle man, vertically integrating
We’ve identified how to max value for M’s customers but it’s important not to forget about M’s other stakeholders...particuarly employees and shareholders. To achieve long term sustainable success need to maximise value for all stakeholders at once. Stakeholders are all interconnected – happy employees = happy customers = happy shareholders-So, recommend that Microvision develop a scorecard of the main value levers and risks for it’s main stakeholders...For customers look at customer satisfaction and turnoverFor employees look at employee satisfaction and turnoverFor shareholders monitor trends in earnings relative to competitorsThe scorecard should be monitored frequently (monthly)- Allowing any potential issues to be identified early and rectified...thus ensuring M maximises value for customers.
