Marketing Plan on "iPad Keyboard and Case"

Marketing Plan 11 pages (2838 words) Sources: 1+

[EXCERPT] . . . .

Marketing Plan: The New iPad Keyboard and Case Combo

iPad Keyboard and Case

Before introducing a new product to the market, every company has to conduct a full-fledged analysis of its internal and external environments in order to be successful in its project. On the basis of this analysis, the company designs its marketing objectives and formulates marketing strategies which pave its path towards an effective product launch. This paper presents a comprehensive marketing plan for the new iPad keyboard and case combo which ZAGG Inc. wishes to introduce in the United States and Canadian market. The paper starts with a brief description of the company and its new product; and proceeds by explaining situational analysis for this product. Situational analysis has been done using SWOT analysis which consists of internal environment (strengths and weaknesses) and external environment (opportunities and threats); and Michael Porter's Five Forces of Competition; which include rivalry among existing competitors, threat from the new entrants, threat from the substitute products, the bargaining power of customers, and the bargaining power of suppliers.

The next section explains the product market focus, marketing objectives, and strategy for the new iPad keyboard and case combo. The section 'Financial Data and Projections' presents a projected profit and loss statement for the initial 12 months of this project. This projected statement shows the major sources of revenues, costs of revenues, operating expenses, and projected profits for the initial year of the product launch. A milestone schedule has also been presented which explains the timeline for implementation of the project using Gantt chart. The major activities in this plan include initial market research, competitor analysis, contracting with the retailers, product launch, marketing and promotional campaigns on electronic, print, and social, media, and evaluation of the marketing plan at the end of the year. The 'marketing evaluation and control' section explains how the company will monitor inefficiencies in the marketing plan implementation and find ways to resolve these inefficiencies.

1. Company Description:

ZAGG Inc. is an American-based corporation that deals in mobile accessories, gadgets, technology products, and protective covers. It is famous for its top quality screen protective covers, attachable keyboards, and portable back protective cases for consumer electronics and high-tech hand-held devices; like Apple iPhone, iPad, Samsung Galaxy, Android Tablet, Microsoft Surface Pro, Windows 8 phone, etc. The screen protectors are sold under the brand name 'Invisible SHIELD' which has also become the company's flagship product due to its tremendous sales and great appreciation by the worldwide consumers (ZAGG Inc., 2013).

The major product offerings of ZAGG Inc. include screen protectors, mobile keyboards, back cases, headphones and ear buds, game controllers, mobile and Bluetooth speakers, car chargers, stylus, and cleaning kits. ZAGG Inc. promotes and sells its products through retail and online channels in all the major markets of the world. Its distribution network has spread in North and South America, Europe, Asia, Middle East, Australia, and Africa. The major online retailers, distributors, and business partners of ZAGG Inc. In the global market include Amazon, eBay, Wal-Mart, Best Buy, Target Corporation, Future Shop, at&T, and Sprint (ZAGG Inc., 2013).

2. Product Description: New iPad Keyboard and Case Combo

There is a huge variety of iPad screen protectors, attachable keyboards, and back cases available in the market. The new iPad keyboard and case combo offered by ZAGG Inc. is quite unique from this available variety. This innovative product comes with sleek and stylish design and a high level of protection for the Apple iPad. The new keyboard and case combo is 7 millimeter ultra-thin accessory for Apple iPad 2, 3, and 4. It has a back-lit keyboard light available in 7 different colors which enables the users to conveniently use iPad in low light conditions (Straker, 2012). An integrated battery pack provides power backup to the keyboard for extended usage of more than 3 months with one time charging. Moreover, the case provides 360 degree tilt to the iPad for more convenient usage. The whole case is made up of durable aluminum and supporting magnet plates which provide protection to the iPad from scratches and damages respectively (ZAGG, 2013).

Mission and Goals:

The mission of ZAGG Inc. is to manufacture top quality products and accessories that can make the usage of high-tech products more convenient, safe, pleasant, and enjoyable for the consumers. The company not only aims to build its brand image as a high quality products manufacturer, but also wishes to contribute to the profitability and sustainability of its strategic partners; including suppliers, distributors, business development firms, etc. ZAGG Inc. keeps on expanding its business operations in the potential markets of the world so as to achieve operational strength and give attractive returns to its investors (Bearden, Ingram, & LaForge, 2007). The long-term goals of the company include market leadership, high level of product differentiation, superior financial performance, and a sustainable future in the global it industry.

3. Situational Analysis for New iPad Keyboard and Case Combo

Situational analysis gives an overview of the internal and external environmental factors that can affect a company's business or the sales, profitability, and acceptability of its specific products or services in a positive or negative way. Situational analysis can be done by using different business and industry analysis techniques; like SWOT analysis, competitor analysis, etc. (Mullins, Walker, & Boyd, 2008).

A. SWOT Analysis

1. Internal Analysis

i. Strengths

ii. Weaknesses ZAGG iPad keyboard and case combo is currently the most innovative product of its type.

It has numerous features and functions which are not available in Bluetooth keyboards and cases manufactured by other companies.

ZAGG iPad keyboard and case combo has an ability to win high appreciation by its consumers all over the world.

While designing and manufacturing this product, the company has ensured that consumers really enjoy using their iPad with extra convenience and safety.

This product will significantly improve the company's sales performance in all the potential target markets.

One of the major weaknesses of this new product is its price. Being the most innovative and multi-feature product of its kind, the new iPad keyboard and combo case will be sold at a higher price than many other similar products. This weakness will put direct negative impact on its acceptability by the consumers.

Moreover, iPad keyboard is being introduced for the first time in case combo form. Therefore, consumers may hesitate to buy it due to the absence of any experience or word-of-mouth for this product.

2. External Analysis iii. Opportunities iv. Threats

Keeping in view the strengths of this product, the company will be able to create new opportunities in the potential target markets. It can target all the consumers who have bought iPad 2nd Generation, 3rd Generation, and 4th Generation.

The company currently aims to target United States and Canada for this innovative and stylish product. These two markets are knows as the hubs of technology and innovation. Therefore, the new iPad keyboard and case combo will be able to make huge sales in a very short span of time.

Moreover, the company has an opportunity to throw similar competitive product out of the market by attracting more and more customers towards keyboard and case combo. It can convince them by showing different benefits associated with this product. For example, the consumers can save considerable cost by purchasing a Bluetooth keyboard and a protective case in a single pack.

Competitors are always the biggest threat for a company (Brassington & Pettitt, 2006). There are a large number of local and international manufacturers that offer iPad keyboards and cases -- most of which are completely compatible with all models (from 2nd to 4th Generation) of iPad. Therefore, these competitor products will be the direct threat for this new iPad keyboard and case combo.

Another threat for the company is high marketing and promotional costs which it will have to incur in order to create awareness of its new product in the United States and Canada. These heavy costs will significantly decrease the financial performance during the initial phase of implementation.

B. Competitor Analysis

Competitor analysis is an important part of Situational analysis. It can be best explained in the light of Michael Porter's Five Forces Model which includes: rivalry among existing competitors, threat from the new entrants, threat from the substitute products, the bargaining power of customers, and the bargaining power of suppliers (Mullins, Walker, & Boyd, 2008). These five forces are now discussed below in detail:

i. Rivalry among existing competitors:

The top quality keyboard and protective case manufacturers include Logitech, Kensington, Luvvitt, Touchfire, iGear, etc. These manufacturers are the direct competitors to ZAGG in this particular product category. However, none of these companies have introduced a combo product which includes keyboard as well as protective case for the iPad. Therefore, ZAGG has a competitive edge over these competitors. In this way, the new iPad keyboard and case combo will gain a first mover advantage in its industry.

ii. Threat from the new entrants:

ZAGG is a well-established mobile accessory, technological products,… READ MORE

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