Marketing Plan
Marketing strategy
Positioning
We For our positioning, we differentiate ourselves from our competitors with the large range of design that we offer and with our customization.
Product Management
Our product is a mean to check on your smartphone without pulling it out of your pocket and a mean to monitor your health while exercising. So, the customer benefit is that they can see notifications directly on their smartwatches when they walk. Our value added product is our customisation, our large variety of choices and our unique customer’s service.
We are targeting the young impulsive adults and the impulsive people who are beginning their carrier. Our goal is to attract new consumers. We are going to separate our collections into 3 categories (on our website too) to make it clearer and simpler. The client will choose his favourite category and will be able to choose a design or a price he is the most attracted to.
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We will provide different colours of bracelet. We will be providing trendy colours following each season. So the stocks of changeable bracelets will have a limit to avoid having to much unsold bracelets. At the end of the season, we can keep the unsold for the next season, or sell them at reduced prices during the sales periods. Therefore we will increase our value while answering to the customers need.
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We will provide special limited editions with unique designs once in a while and they will be exposed firstly to the old customers who would have registered to our newsletters. This exclusiveness will help us increase the customer’s satisfaction and help us attract new customers on the short term. These special editions will be specific to each country. They will be made according to the trends representing them specifically and they could beaded in collaboration with other brands (like the Swarovski collection). The higher cost of the design will have to be compensated with the fewer application we provide within the smartwatch. We can add that the special editions should not be launched on the same moment in each country to avoid losses, what’s more a foreigner could be interested in the product launched in another country.
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Finally we will add a new service: old customers will be able to bring back their old smartwatches and buy another product of a new generation. They will receive a price for it, that price will be deducted from the price of the new one.
We are going to sell 3 kinds of products according to the favorite applications and design of our consumers:
[On the graphs below, the green color corresponds to the category of smartwatch, the purple color is what we want to add to the actual model, and the blue is the top 3 of design ]
1. Product to monitor your health:
We are going to sell Zefit (only the first collection) and ZeCircle (all the collection). We are going to adapt some of these collections. We will add the heart rate monitor. And to compensate, we will have to increase the prices but they will still be affordable in comparison with most of the competitors.
2. Product to keep your phone in your pocket:
We are going to sell ZeClock, ZeBracelet and Zenano (all the collection for all) . We are going to adapt some of these collections. For ZeNano and ZeBracelet, we will add the notifications and the messages reading because they have big screens. And to compensate, we will have to increase the prices.
2. Product with both characteristics:
We are going to sell ZeSplash², ZeFit² pulse, ZeWatch² and ZeWatch³.
Image Management
Our brand is not really known for the moment. But as the smartwatches are from Switzerland, it can have an impact on our image. So people believe that Swiss quality is a good one. Our smartwatches can be differentiated from the other brands. In fact, a good point for our brand is the customization of smartwatches. People can personalize their watch. We propose a lot of different models of smartwatches that can fit each person. Every quarter, they offer new watches, with new design. Finally, we want to excel with our customer service.
Experience Management
There is also a good customer service. Of course, if there is a problem with your smartwatch, you can contact the Customer Support for personal assistance by phone or by the Internet. Mykronoz is really reactive on social networks and answer to all questions that people have.
MyKronoz also proposes all their collections on their website and on social networks. Since most of the users are new, we will provide an easy and fun manual to help them get used with watches. On the package we will enhance them to register themselves on our website then they will be able to ask for help if necessary and we will be able to send them notifications when a new product of the collection is available or if they are new accessories. We will improve our interaction with our customers by communicating with them more often and sharing trendy subjects related to mykronoz directly or not on our Facebook and Instagram.
Pricing Management
Our The prices of our brands vary from 39€ to 199.9 €. So it is affordable for smartwatches. There is a wide range of prices for a wide range of models.
Place Management
82% would buy a smartwatch in a store. We should focus on selling our products in the stores. In Europe, America and Asia.
MyKronoz is present in more than 40 countries and has more than 1 million of products sold. The different distribution canals are varied: supermarkets, telecom, sport and electronic chains, watches reseller. Mykronoz is also supported by many partners all around the world (Orange, Auchan, Carrefour, Best Buy, Walmart, Yodobashi, HMV…). The objective of Mykronoz is to increase their presence internationally and the brand renown, with the opening of offices in USA and in China in order to facilitate the exchanges and to create new opportunities on these strategic markets.
What’s more according to our survey, customers are more likely to listen to the seller’s advice. Therefore we could focus firstly on the stores with specialised sellers who should be able to advice the new user of smartwatches. 31% would buy it online. We can’t ignore this amount because online shopping market is still gaining consumers.