marketing management final project_pinpoint
TRANSCRIPT
Introducing PinPoint
S Mission Statement - To be the lifesaver in your
everyday needs. Whether your items need to be
located or in need of emergency support, PinPoint
will point your life in the right direction.
S PinPoint has two available components:
App or Device & Pin tagsPIN
External Analysis
Opportunities
S Americans over the age of 50
control 77 % of total net worth
and have nearly $46 trillion in
wealth
S Having PinPoint is less of a
financial burden compared to
retirement homes and personal
nursing staff
Threats
S Gaining competitive advantage
S Late entry into the market
Internal Analysis
Strengths
S Target audience is one of the largest demographic markets in the current consumer market
S Caters to Baby Boomer generations who want to continue living a lavish lifestyle without raising concerns
Weakness
S Being able to distinguish themselves from existing products
S High investments made in operating costs
Target Market: Baby Boomers
1. Adventurous Retirees
2. Calm Retirees
3. Unprepared Retirees
4. Awaiting Death
Strategy
S Product Market: Tracking Device Market
S Target market: Baby Boomers & Older
S Position: Differentiation
- Positioning in a less competitive and smaller market
niche with target towards Baby Boomer generation and
higher price than the price of competitors’ products
Product Program
PromotionS Newspaper
S Radio
S Billboard
S Small Commercials
PriceS A set of four tags ---------- $30
S A set of four tags and the
device -------------------------$50
ProductS Locate people’s medical stuff
& get first add help
DistributionS Website
S Retail Store
S Nursing Home
S Hospital
S Insurance company
Financials - Calculation
S We estimate 1/1000 people whose is over the age of 50
will buy our product .
S The population of people over the age of 50 in Texas is
about 7 million.
7,000,000 ÷ 1000 = 7,000 units
S The population of people over the age of 50 in the US is
about one hundred million.
100,000,000 ÷ 1000 = 100,000 units