The Sony SmartWatch 2 facilitates on-person notifications of text messages, emails, phone calls from an android device. This waterproof watch is capable of downloading apps and sustaining a charge for up to 4 days. Allowing personalized straps; it is the most innovative way to stay informed on the go. Target Market: Men 22-40 grossing $80,000 annually, using a smartphone, specifically android. Application of the six target market characteristics to US population; shows target market is 1. 5 million men. Promotional Mix: 1. Personal Selling: Sales representatives will provide customer service,
condensed sales presentation on benefits and uses. Representatives will ignite a value separate from product value. 2. Advertising: Using forms of television and magazine advertising will gain exposure and demand for product. Advertising should be placed in fashion, technological gadgets, and new innovation segments. 3. Sales Promotion: Point of placement displays will be used to relay benefits, gain exposure. Contests like free entry to win Sony SmartWatch 2 when signing up for newsletter. Coupon for free wristband when buying two bands and watch coupled. 4.
Public Relations: Sony’s goal is to increase brand loyalty and product credibility within various sponsorships with food banks, mentoring and professional programs Target Market: The SmartWatch 2 enjoys a unique position being birthed into a nationwide brand in the United States. The product will use zero level distribution pertaining to internet sales. One level distribution will prevail the most important, selling Sony’s products with retailers. Within the household brand and vast resources possessed by Sony, the SmartWatch will be able to enjoy its easy entrance into selective distribution.
Use of selective distribution allows customer service to sell the highest value while adding the allure of exclusivity to the product. The product will be sold selectively online, as well as some electronic stores such as Best Buy, Wal-Mart another select other electronic retailers. Characteristics of the target market are geared towards male smartphone owners, particularly Android users. These users tend to live in urban areas grossing $80,000+ between the ages of 22-40. Applying the percentages of the target market characteristics to the percentages of the population in America, 1.
5 million men make up the target market. The target market of the product is expected to keep a steady influx of males within this age range. Age range is very important to the SmartWatch 2s with in the long term of the target market. The age range of 22-40 brings many opportunities for relocating and travel, thus being the steady increase in population in urban/suburban areas. Also within this age, marriage and sharing of assets is a grave expectance. The percent of average household income will continue to increase.
Promotional Mix: The promotional mix for the Sony SmartWatch 2 is dictated by the need for personal selling. The innovation of the product is coupled with weariness of customers. Often many people are unwilling to a high price a new device that they have no knowledge of benefits/uses, especially if only viewing as a standard watch. Focusing on personal selling when distributing selectively allows customers to ask questions, interact with the product, gain knowledge, develop a want and alleviate product uncertainty. Thus, the
Sony SmartWatch 2 uses a promotion mix to provide budget allocations pertaining to personal selling, advertising, sales promotion, and public relations. The proportions are as followed: personal selling 45%, advertising 25%, sales promotion 20%, and public relations 15%. Personal Selling: Sony, within personal selling, has positioned its products in stores that have constant sales representatives present. During the first 6 months of the products release, a sales representative should be in the general area of the product during the busiest times of the day.
On Black Friday, a sales representative will be located near the watch giving demonstrations from open till 2 hours till close. The duties of these representatives are to encourage testing the product, giving mini sales presentations, answer questions, share benefits and encouraging closing the sale. The low amount of substitutes and added benefits resulting from personal selling technique from sales representatives gives the product a value pricing strategy. The final important aspects within personal selling pertain to customer services and sales management. Advertising:
The second largest promotional mix is advertising. The Sony SmartWatch 2 will use two forms: television and magazine. Television ads will be very important in gaining exposure of the innovation to the public and increase demand. Magazine advertising is appealing due to the prolonged exposure. Promoting the product in new innovation or gadget magazines as well as fashion magazine will lead to maximum appeal within the desired target market. Sales Promotion: Sales promotions objectives best fitting with the SmartWatch 2 pertain to gaining trail usage, straying away from price sensitivity, and increasing users want.
Point on placement displays coupled with knowledgeable sales representatives within electronic sections of stores is the main focus of sales promotions. Upon releasing the product, Internet contest to win a free Sony SmartWatch 2 will be offered when signing up for Sony newsletter. Implement coupon promotions, for example. When buying the Sony SmartWatch 2 with two colored watchbands a coupon for a free colored watchband will be offered for the first six months of the products release. Public Relations: Public relations position itself as the smallest portion of the promotional mix.
Sony aims to strengthen company image and product credibility with the release of the SmartWatch 2. Sony hopes to satisfy advertising and public relations within the magazines articles that will be to print upon product release. Other efforts include Sony’s sponsorship of various foot banks, special Olympic events, Passing the Torch program and Big Brother, Big Sister mentoring programs. Public relation hails important to the target market because they are positioned in an age, income, and lifestyle barrier that is labeled as professional.
Many of Sony’s sponsorship help facilitate internships, interviewing skills to facilitating the appropriate clothing for interviews. Conclusion: Given that the product is selective, with a target market of 20-44 year old males living a high paced life style with in urban areas, the combination of sales presentations and customer service, and small percentage of sales management will maximize the likelihood of achieving the marketing objectives. When released the Sony SmartWatch 2 will be one of the first innovation in the class of hands free technological notification devices on the market.
This is a benefit and a disadvantage because people have little to no knowledge of the product. Personal selling will be the most effective, customers have the ability to ask questions, gain knowledge and develop a want for the product. Personal selling includes customer service. The SmartWatch 2 target market leads a high paced life style with little time to learn or fix possessions. The target market will enjoy ability to save time by dropping off SmartWatch to answer questions, fix problems, or help personalize watch to their own style.