Marketing Plan
Market Analysis
Evolution of the activity sector
Market of wearable devices
The market of wearable devices is still young. Analysts are expecting it to grow explosively in the next year. Devices for fitness are the most successful. The competition in this market is increasing over time since it’s a new market with potential. Therefore some strategic alliances are made and some are expected to be made in the near future. So it’s important to have a good strategy to be able to get some market shares.
Actual target market
According to our research on smartwatches, the targets are mainly people from Generation Y, born between 1980 and 2000 because these people are keen on new technologies and not necessarily on watches. Smartwatches are not only for the geeks keen on electronic gadgets. But the conquest of the market should take some time because people are already at a high level of equipment and this watch will be complementary to a Smartphone or a by-product. Moreover, the watches are carried by the consumer and fits in the physical of the person. It is a fashion item. We will be very attentive to practical side but also to the design because the object is ostentatious and is out of a pocket. So it is also for people concerned about their style.
Technology
R&D expenses are high. Advantage of smartwatches is that they are easy to access and always under our eyes. What’s more its contact with the skin allows us to use it as a fitness/medical device. It’s actually very used as a fitness device but a new category is going to grow even more in the near future which is the medical use of a smartwatch. This is a new technology actually developed by Samsung and already available in some Gear watches. This is set to attract more patients, all kind of conductors (pilot, train, taxi …) and the elderly who have health problems and who haven’t good eyesight which stop them from buying a smartwatch with a little screen. We conclude that this new technology is meant to create a new potential segment for smartwatches.