Principles of Marketing Project

(XPod WristDio)

Submitted to:
Sir.Syed Ali Raza Noor

Submitted By:
Umarr Afridi (1828)
Haseeb Abbasi(18236)
Yasir Chaudary(15236)
Khudadad Khan

Acknowledgements
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We would sincerely like to thank Sir Ali Raza Noor for being so cooperative
and encouraging through out the semester, she has delivered the course
very loyally and sincerely due to which we have a good understanding of
our course, this project has given us a wider and informative prospect, it
was really a reflective and a thought provoking project.
Finally, we would like to thank our family and friends for supporting us during the
research of this project and for contributing valuable inputs to the research work.

Table of Contents
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S.No.

Content

Page

1.

Executive Summary

2.

Marketing Research

3.

The Product ( Good or service) and Business Idea

4.

Market Analysis

5.

Competitor Assessment

13

6.

Marketing Strategy

15

7.

Forecast and Budget

22

8.

Implementation and Control Plan

24

9.

Contingency Plan

25

Executive Summary
Mobility, latest trends and technologies are three most significant factors that customer seek
today when they walk-in in an electronic items outlet. Years before the journey of technology
started out from the calculator the most basic computer as we call it. Today that technology has
emerged and the most latest is PDA (Personal Digital System). Full computer in a small device
able to perform all of the tasks.
New Nokia Mobile phone has all the features of a desktop computer, no need of a laptop. The
phone is easy to carry, manages schedules, and can perform all the business related tasks.
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The size itself has become important apart from mobility. The concept that we are launching is of
a radio which is latest in the sense that you can wear it as a fashion accessory. Radio is
considered to be one of the most important media apart from television and internet. The major
source in use during cricket matches, exercising in the morning and during traveling for work or
school. 73% of college going male (18-25) years of age surveyed tune into radio, although the
channel loyalty is not there. The most frequent listening occurs after dinner time.
This is different from male radio listeners as the FM channels are replacing cassettes as a music
source while driving, other survey shows that one of the popular source of music are the FM
stations, FM 89, 91 and 106.20 are extremely popular within the target market .
The major target market for our product is the age between 15 and 26. According to the statistics,
25 million Pakistanis are aged between 15 and 24. Considered in the context of total population
(approx. 150 million), 16% of Pakistanis are young. Statistics shows that 60% of population is
under 25 that is 2/3rd and nearly 10 million are in the urban areas.
GEN X and GEN Y is the most experienced and accessed generation in the human history. This
generation is the technologically accessorized generation, with everything hanging from their
clothes, from cell phones to CD players, and computers are a way of life. This is a branded
generation, brand names, association with the great life and other symbols are important.
The emerging concept of brand association amongst teens and adults, and awareness will make
our product more appealing to the customers.

Marketing Research
Methods of Data collection:
Basically there are two methods of data collection:
1) Primary Data
2) Secondary Data
Primary Data Collection: Primary Data is that data which is collected specifically for the
project.
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Secondary Data Collection: Secondary Data is that data, which has already been collected
for some other purpose but can be used as reference material.
The secondary data for our report came from the internet, and magazines.

THE PRODUCT
Introduction of product:
Now days, mobility is becoming an important factor in electronic devices. The concept that we
are launching is of an wrist watch radio which is latest in the sense that you can wear it as a
fashion accessory. We are launching it under the brand name WristDio. Radio is considered to be
one of the most important media apart from television and internet. The major source in use
during cricket matches, exercising in the morning and during traveling for work or school.
Objectives and issues:
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Increase the profits by at least 10% in the first year of the launch.

Issue: How to increase the awareness amongst customers about this product?

To create 10% market share for the product and to work to improve it further.

Issue: What measure to take to identify the potential customers of the product in the
market?

To identify 5 potential outlets where to place the product initially.

Issue: How to identify the potential outlets?

Mission statement:
Our Mission is to provide low cost and high Quality Wrist Watch with the latest technology in
Oder to meet the unique satisfaction of our customers.

Vision statement:
Innovation
Our product Oriented Definition:
We manufacture wrist watch radios

Our Market Oriented Definition:

To the trendy and techy, WristDio is the radio that provides mobility and a perfect blend of
fashion and technology that makes you feels different and latest than others.

Target Market
WristDio will form a major share of its market amongst those people who are attracted towards
the product with exclusive appearance, unique functionality, style and design. We will market our
product through multiple segment strategy, as we are be targeting GEN X and GEN Y
belonging to upper class and upper middle class of our society. Through multiple marketing
WristDio can achieve market position as because it is a product which provides mobility, style
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and fulfills the needs of the consumers. WristDio is a part of the most reliable and trusted
technologies belonging to XPod which is using Japanese latest technology in it which would
further strengthens the reputation it would acquire.
Now days, there is a growing trend of adopting the inimitable style which people will definitely
feel after purchasing the product. The mini chip radio in the wrist watch itself is fascinating and
will communicate on its own towards the people who are engrossed through mini products.

Positioning

Product Positioning:

WristDio would provide higher frequency range compared to other radios available in the
market, will have a long lasting battery no recharging is required and the most important
advantage that our product provides is the mix of fashion and technology that forms our
distinctive attribute.
Value Proposition:
WristDio is a better quality product providing distinctive feature and being a leader makes it
more special and different from other competing products. XPod using latest Japanese
technologies is most reliable and durable.

Market Positioning:
WristDio has been positioned in the customers mind as a part of their lifestyle it impeccable
suited their personality. It has positioned on the following grounds:

Made for you exclusively

Lifestyle and technology
Wrist watches with variety of colors and design
Fine-looking wrapping and easy to use.
Statement:

Enjoy with Style

Characteristics affecting Adoption:

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Relative Advantage: The first of its kind is being introduced in the market; the
concept it self will attract the customer.
Compatibility: WristDio higher range of frequency will make it easier to add channel
and thus more value to the product.
Complexity: WristDio is easy to use and the demo CD provided with the product
provides the proper guide and features to use the product.
Divisibility: WristDio is an expensive product and initially no discounted rates can
be offered
Communicability: The experience that customers take with them will make its use
and difference spread amongst customers.

Market Analysis
Basis of Segmentation
Demographic segmentation:

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Demographics refer to the characteristics of population including such factors as size,

distribution and growth, because people constitute market, demographics are of special interest
to market executives.
Age:
Our product caters to male ranging from age 15-26 yrs old. Moreover, through our
advertisements we have portrayed active males who are working out or busy in studies and
offices.
Occupation:
WristDio targets male belonging to each and every type of occupation whether it is a student and
working male.
Income:
Our product WristDio caters to upper class and upper middle class. Any one lying in the income
bracket of Rs 50,000+ can afford this product.
Psychographic Segmentation
The psychographics of the WristDio can be analyzed by reviewing the advertisement. The
lifestyle shown in WristDio advertisement portrays successful, sophisticated, professional males
who are active energetic and full of life.
Behavioral Segmentation:
Under this aspect XPod Company has based their segmentation on the basis of customer desired
benefits. People would prefer buying our product because its the first ever product to be
launched by XPod with radio facility which is easy to use, and more over its attractive mix of not
only radio but also as an fashion accessory.

SWOT Analysis
Strengthens

Being first of its kind to be launched in the market

The smaller size

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The mobility

The attractive package and demo included in the gadget

The exquisite location of electronic gadgets outlets in different malls e.g. Centaurus
Mall, Beverly Center ,Chanab plaza

Easy to use

In accordance with the latest fashion

Attractive mix of radio and fashion accessory

Japanese technology, one of the most reliable manufactures

Weakness

Limited warranty

Requires proper maintenance

Batteries are to be charged according to usage level thus requires cost to keep the
gadget working

Opportunities

The customers are fond of accessories which can help extend our accessories from wrist
watches to bracelets and necklace

Hearing radio can replace the care tapes as being mobile and fashionable in nature

Being a new product creating a new market the competition is minimized to a great
extent

The distinctive attributes will outweigh the element of high price

The opening of the mall culture in Islamabad with better electronic outlets will provide a
better location to display the radio

There is an opportunity for line extension

New technology is in its growing stage which helps attract customers with its distinctive
attributes

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The interests of teenagers in acquiring latest technology will further increase the market
share

Computer system placed at the electronic outlets could help provide free demos of the
product at the outlet

A survey at the outlet about the buying experience of the product and after sale
experience can help make the product more effective

The smaller size and mobility if appreciated could provide line extension for the product

Threats

The electronic market is still under developed in Pakistan

The fluctuating electronic and political conditions of the country can hinder the sale of
the product

Less awareness amongst the public about the electronic items

The training of sales person for the product

Competitors can come up with a similar and better product before our product is
established

The higher price of the product could lead to duplicate products in the market

The health conscious people could resist the product

The fashion conscious people may not take the initiative to buy the product

Marketing Environments (PEST ANALYSIS)

Political:
The fluctuating political environment in the country can be dangerous. Since the product being
developed is manufactured in another country the support of the government is required to keep
the government conditions in import and export stable and to strengthen relationships with the
other country to grow the business further.
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Economical:
The product that is being launched is an expensive product the economic conditions will
determine the national income or the buying power of the consumer which indirectly will
determine whether the people would be willing on the products that are not part of their basic
needs.
Social:
Since the product is a wrist watch radio which would be fixed in a wrist watch placed quite close
to the wrist can be considered as dangerous for the wrist. Proper awareness about the product and
the setting of the frequencies accordingly so not to affect the wrist would have to be justified to
the people.
Technological:
Pakistan is developing technologically and further awareness and development will assist in
improving the products functionality.

COMPETITOR ASSESSMENT
COMPETITOR ANALYSIS
WristDio is competing in portable media industry.
Major Competitors:
Our major competitors are all those manufacturers who are specialized in and dealing with micro
electronic items, who believe in size and design of product with quality.
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WristDio direct competitors are small radios that can fit in ear easily. These are namely:
i.
Sinclair XI Button Radio
ii.
FM Mini Radios
iii.
ZI AM Radio
iv. Tiny FM Radios (China Toy Factory Inc)

Other indirect competitors are mobile devices enabled with FM radios. These are:

i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
ix.

Siemens
Samsung
Nokia
Motorola
LG
Panasonic
Sanyo
Sharp
Phillips

COMPETITIVE ADVANTAGE

WristDio is not just a FM radio it is blend of fashion and technology.

Long lasting Japanese battery gives it an edge over other mini radios that have maximum
life of 2-48 hours on continuous use.
Providing maximum FM band range from 87-108 MHz among its competitors who offer
mini radios with FM band 88-108 MHz

COMPETITIVE STRATEGIES:
Differentiation:
WristDio is an innovation in the arena of radios. It gives connectivity to the outside world in a
way that adds value and beauty.
Focus:
WristDio is designed especially for upper middle class and upper class urban population
including GEN X AND GENY, fashion followers and trend setters.
COMPETITIVE POSITION
Multiple Markets:
We are following the multiple market strategy for WristDio by focusing more towards the upper
class and upper middle class of the society.
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Marketing Strategy
MARKETING MIX
PRODUCT CLASSIFICATION:
WristDio is broadly classified as consumer product and under this category we define it as a
specialty product because it is a perfect mix of style and technology. It involves strong brand
preference and loyalty, special purchase efforts by consumers, little comparison of brands and
low price sensitivity.
LEVELS OF PRODUCT

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Core Product
WristDio provides a solution to its users that connect them to the global world and at the
same time add value to their beauty.
It is smallest in size but greater in quality and style thats what the consumers want.

Actual Product
WristDio, a wrist watch radio.

Augmented Product

Customers are provided with the free demos of the product on computer system installed
at the outlets and for further understanding, instruction booklet is also provided with
WristDio.

Also included 1 year money back warranty and a pairs of fabulous wrist watch
along with the product.

Customers are encouraged to share their views about the buying experience
of the product and after sale experience through surveys conducted at the
outlets.

An exclusive website is designed to cater its customers for solving all their
queries regarding the product. Online purchasing service is also available.

PRODUCT COMPOSITION
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Product Quality:
WristDio works great, everywhere in the world, under brand name XPOD using
Japanese microchip technology and providing the FM band from 87 to 108 MHzs
Stereo-sound is really excellent plus 1-year money back warranty is also given.
Product Features:

Push-button Auto Seek Microchip Technology so you can immediately and

perfectly tune in stations (Automatic FM Tuning).

Provides high quality stereo sound.

Long last Japanese battery included.

31years (Limited) Warranty.

Ideal for use in parties, sports, travels, hiking, working, Jogging, bike riding,
boating, fishing, picnics, reading, camping, skate boarding, gift giving, foot
and vehicle surveillance, to pass the time while waiting for subject,
anywhere, everywhere, in the form of wrist watch as simple microchip (radio).

Product Style and Design:

It comes in many splendid colors with different style for male. It is designed in a way so as to
increase portability.
BRANDING
Brand Equity:
WristDio will establish it with the passage of time because of its good quality and better
understanding of customer needs.
Brand Name Selection:
WristDio is selected as the brand name because it defines the mobility and easy to carry feature
of the product and signifies the extra factor that we provide to our customers in the form of wrist
watches (fashion accessory).
Brand Sponsorship:
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XPOD is manufacturers brand.

Brand Development:
No extension.
Packaging:
WristDio comes in a square shaped gift box.
Labeling:
All the important information is mentioned on the label. The label contains the name of the
product, name of the manufacturer and distributors, warranty limit, warnings, guidelines on
usage.
Product Support:
A booklet on guidelines regarding the product is provided with WristDio. Free demo CD is also
given.
Product Mix:
Initially WristDio is introduced in the form of wrist watch but with the passage of time it will
offer in other versions also like in the form of bracelets, rings, and lockets.
Product Life Cycle:
Our product is at the introductory stage of product life cycle stage.

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PRICE

INTERNAL FACTORS
Marketing Objectives:
To create a market share and to stand out as distinct product amongst the other competitors
Marketing Mix Strategy:
The price has been decided based on the competitors and customer needs and requirements. The
price is aligned with other marketing mix covering the promotion, placement and product.
Cost:
The organization has tried to achieve economies of scale but not the cost of quality. The cost is
being monitored and is kept to a minimum by choosing the best deals given by the supplier and
managing the cost accordingly.

Organizational Considerations:
The price set has been influenced by different functions of the organization including the finance,
manufacturer, sales and marketing and the higher management.
PRODUCT PRICING STRATEGY
Comparing competitors pricing
Sno.

Competitor

Price

2.

Sinclair XI Button Radio

Rs. 2304.93

3.

FM Mini Radios

Rs.719.44.

4.

ZI AM Radio

Rs. 840

5.

Tiny FM Radios (China Toy Factory Inc)

Rs.1200

Competition Based Pricing:

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We are following the growing rate pricing according to which we fix our price after considering
all the factors as to Rs. 3500.

PLACEMENT
The product would be sold through Indirect Marketing Intermediary. The product will be sold
through push strategy that is product would be first distributed to the wholesalers and then to
retailer. The retailers would assist in creating contact with the other retailers which would expand
the network and add value.

PROMOTION

WristDio being a new product in the market would require intensive advertising. The positioning
and the idea behind the brand selection would be used as a basis for advertisements and the
advertisements would be informative.
ADVERTISING
Radio:
Radio FM channels would be able to attract the major cream who could use our product and
create a positive word of mouth for others. Since they being the regular radio listeners would be
excited to use this product as they could carry the radio with them.
Newspaper:
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WristDio is an expensive and new product. There is need to create awareness amongst people
that such a product exists. Dawn newspaper would be a better choice to advertise being one for
the most popular newspapers in Pakistan. A full page would be dedicated to advertise the product
providing a detail know how of the features and distinctive attributes. Apart from Dawn the
other newspaper that the product would be advertised in are The News and Daily Times.

Magazines:
WristDio being a technology product it would be advertised in magazines as SHE a leading
magazine. Another magazine that is famous amongst out major target segment the teens is
Young Times. It is Dubai based magazine is especially for kids. Since it is a fashion product
also magazines like STYLE and MAG would also be used to advertise the product.
Billboards:
The locations where we have decided to place our advertisements are avenues like 9th avenue,7th
avenue, Murree Road, about area Blue Area, Aapbara Market, Karachi Company Market Apart
from the major areas identified all the other malls where luxury electronic items outlets are
available advertising would be done by placing billboards.
Television:
The few major channels as Geo TV, Style 360, HUM TV and MTV Pakistan will be given the
task to advertise the product.
Websites:
Msn.com/Click on line a website providing information regarding new technologies,
funmaza.com a famous website viewed by most of the People of Islamabad.
Sales Promotion:
One free pair of wrist watch apart from the one already provided in the package would be given
with the product.
Public relations:
Brochures providing details of the safety of using the product would be distributed in public
places. Articles about the working and flexibility in use would be published in a leading
magazine to inform the public about the safety in using this product.

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Forecast and Budget

The factors considered for budget are:

Different advertising companies rates have been taken

According to time, rates can differ
Most of the values are estimates.

Category

Estimated Cost

Research
Reasearch firm Fee

140,000

Web research

60,000

Independent Research

18000

Other

10000

Research Cost Total

Rs. 228,000

Promotions
Product Discount

5000

Special Offers

20000

Promotion Cost total

Rs. 25,000

Advertising
Brochures

10,000

TV

800,000
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Radio

18000

Newspaper

15,000

Magazines

12,000

Web

10,000

Billboards

1700,000

Advertising Cost Total

Rs. 2565,000

Public Relation
Employee Promotions
Sponsorship

10,000
12,000

Public Relation Total

Rs. 22,000

ESTIMATED MARKETING
GRAND TOTAL

Rs. 2840,000

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IMPLEMENTATION AND CONTROL PLAN

Goals:
After the launch we will look out the awareness and recognition of WristDio among the target
customer. The targeted sales, profits, availability and elevated market share are also major parts
contributing towards achieving our goals.
Performance:
Measure the performance and activities of the outlets, their interactions with our target
customers. We will measure the performance by setting different tests after the first launch of
WristDio. Tests will be encompassed of surveys, personal interviews, focus groups and e-mails.
Evaluation:
The results of the surveys, mails and others will be then synchronized for the evaluations.
Evaluation is conducted to identify the gap between the expected and actual performance.
Corrective Actions:
This is the last control which is set and applied if there is a difference amongst the expected and
actual performance WristDio and we then otherwise will take the corrective actions to close the
gap.

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Contingency Plan
We have launched this wrist watch radio under the brand name XPod so value and prestige is
associated with this product. We have used the latest Japanese Technology in our product through
which frequency and signal of radio can be catched easily. But the problem can occur in our
product is that at some places user might not find tune into radio and their might be some
problem in signal catching. To combat with this problem, we have used the latest Japanese
technology as stated before and will use more advanced technology in our product in future in
order to satisfy our customers

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