Marketing Strategy and Plan for Pressa Smartwatch

This report outlines the marketing strategy and plan for Pressa Smartwatch, including a situation analysis, target market, marketing mix, implementation and evaluation, and major contingencies that may arise.

Running head: MARKETING STRATEGY AND PLAN
Marketing Strategy and Plan
Name of the Student
Name of the University
Author Note

1MARKETING STRATEGY AND PLAN
Table of Contents
A. Introduction.................................................................................................................................2
B. Situation Analysis.......................................................................................................................3
SWOT Analysis...........................................................................................................................3
C. Target market..............................................................................................................................4
D. Marketing Mix............................................................................................................................5
E. Implementation and Evaluation..................................................................................................5
Timing and nature of expected evaluations for the marketing plan............................................5
Image of the timeframe................................................................................................................9
Major contingencies that may arise and describe the proposed responses to each....................10
F. Reference List and Bibliography...............................................................................................11

2MARKETING STRATEGY AND PLAN
A. Introduction
A company needs investors and company’s head’s approval for launching of the new
product and thus, as a CEO of the company, we write this plan to head of the company and some
investors to sponsor the launching program. This business report illustrates the objective for
product expansion by developing effective business relationship with the investors for future
business advancement. Preesa aims to launch the new product line for expansion of the business
to reach more people and community on the global platform.
Westwood (2016) stated that like other nations of the world, Canada have also taken
initiative for the betterment in technological field. They have internationally recognized research
community, highly educated and highly skilled workforce, highly competitive tax environment
and financial incentives and highly regarded scientific talent (Tradecommissioner.gc.ca, 2018).
Pressa have invested for developing a new plan for formulating smart watch especially for the
athletes. Pressa watches are capable of what a cell-phone can do and have application like Play
Store, AccuWeather, Alarm and Agenda. Users can also change thee mode to Customizable
Watchfaces and able to change the color. Pressa always aims to grow further and thus have
develop several project team to work on a single project but their main aim is to develop
something innovative. This is the reason this watch has several innovative angles that users
cannot found in any other brand. The leaders of these departments emphasized on business
transformation and thus continuously development for improvement will be witnessed.

3MARKETING STRATEGY AND PLAN
B. Situation Analysis
SWOT Analysis
Strengths Innovation- Personal assistance can be obtained through mobile phones but in
order to overcome the issue of size, Pressa Watches does the same work that a
mobile phone can do.
Android base- People can get a user friendly OS for their watch that can be
easily connected to any device without asking for any external or internal
approval.
Competitive Pricing strategy- In a minimal price of $55, users can grand this
watch with all the exceptional features of sending messages, listening to music,
playing sports games, calculating all the health related metrics, default sports
channels, water, dust and scratch-resistant, long lasting battery life, customized
themes and athletic look.
Weakness Slow speed- The incorporation of so many features sometimes makes the watch
slower than the mobile phones.
Less memory- Unlike mobile phone, this accessory is not capable of such a huge
memory speed but users can transfer the data of the watch to the computer and
free up the memory spaces.
Knowledgeable people- Sudden employee turnover, the product development
plan sometimes delayed due to inability to estimate the demand of the users as
proper market research cannot be proceeded.
Opportunity Urge to proceed- People working in the development of this watch looks for
continuous advancement and can give regular updates for the software.

4MARKETING STRATEGY AND PLAN
Competitive Advantage- There are several technology companies famous all
over the world but a product that is designed solely for the purpose of
smartwatch can attract more users.
Threat Popularity of other brands- There are several brand that offers the similar
products and people can purchase their products for brand fascination.
Continuous growth in technology- Regular updates in the technology result in
intense research in the technology and software upgrades.
No experience in the distribution- The company has no past experience in the
distribution of watch stores. It is new in the market. So it will be difficult in the
starting to figure all the demands for it in the market.
C. Target market
Target market- The target market for Pressa Watches are the sportsperson, young generation,
technology lovers and stylish people.
Primary market- The athletes are the primary market for this products as this smartwatch is
designed for performing all the works that an athlete performing in their daily routine.
Secondary markets- The watch is stylish for attracting the customers, who values style. The
sports loving customers are also get attracted with this watch.
Geographic- Pressa watches targets the customer from all over the world. After launching the
watch in Canada, the company will develop a online websites through which people from all
over the world can buy their products
Demographic- High income group and premium clients as this advanced functional watches is
majorly used by people, who have enough financial resources.

5MARKETING STRATEGY AND PLAN
Psychographic- People, who are heath conscious, want to live in high style, have interest in new
and advanced technologies are the main target market.
Level of usage- Athletes can use the products all day long and the general users can also use the
watch as they want. The battery power of the watch allow them to wear it and use the gadget
minimum for 1.5 day long.
D. Marketing Mix
 Product-
The best time to launch the product is during the 2018 FIFA World Cup as people are
more concerned towards the sports and gets attracted towards the products that are related
with sports.
 Distribution- The products will be available in the Pressa Stores, online websites and
other authorized shopping websites so that people can get their products easily. People
outside the Canada can also contact with the authorized dealer’s shop.
 Price- The Preesa smartwatch will wholesale for a recommended retail expense of $55.
 Promotion- The promotional style opted for advertising Pressa Smartwatches are
developing magazine content, designing flyer, develoing YouTube Video content,
designing and printing poster and website promotions.
E. Implementation and Evaluation
Timing and nature of expected evaluations for the marketing plan
Task Name Duration Start Finish
Implementation plan 398 days Mon 4/9/18 Wed 10/16/19

6MARKETING STRATEGY AND PLAN
Product planning 192 days Mon 4/9/18 Tue 1/1/19
Identify the required product features 30 days Mon 4/9/18 Fri 5/18/18
Discuss the product features with the team and the
stakeholders
2 days Mon 5/21/18 Tue 5/22/18
Develop the first draft of product development 3 days Wed 5/23/18 Fri 5/25/18
identify the required changes 4 days Mon 5/28/18 Thu 5/31/18
Develop the final draft 2 days Fri 6/1/18 Mon 6/4/18
Deployment for approval 1 day Tue 6/5/18 Tue 6/5/18
Identify the required hardware and software 10 days Wed 6/6/18 Tue 6/19/18
Develop the product 90 days Wed 6/20/18 Tue 10/23/18
Testing of the product 30 days Wed 10/24/18 Tue 12/4/18
identify the shortcomings 5 days Wed 12/5/18 Tue 12/11/18
Make the necessary changes 15 days Wed 12/12/18 Tue 1/1/19
Milestone 1: Product development 0 days Tue 1/1/19 Tue 1/1/19
Price planning 12 days Wed 1/2/19 Thu 1/17/19
Identify the production cost 2 days Wed 1/2/19 Thu 1/3/19
Identify the competitors price 3 days Fri 1/4/19 Tue 1/8/19
discuss Pricing strategy with team and
stakeholders
5 days Wed 1/9/19 Tue 1/15/19
Set price 2 days Wed 1/16/19 Thu 1/17/19
Milestone 2: Product price set 0 days Thu 1/17/19 Thu 1/17/19
Advertising 40 days Fri 1/18/19 Thu 3/14/19

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develop magazine content 2 wks Fri 1/18/19 Thu 1/31/19
Sent for approval 2 wks Fri 2/1/19 Thu 2/14/19
feedback 2 wks Fri 2/15/19 Thu 2/28/19
Required implementation changes 2 wks Fri 3/1/19 Thu 3/14/19
radio content developing 2 wks Fri 1/18/19 Thu 1/31/19
Sent for approval 2 wks Fri 2/1/19 Thu 2/14/19
feedback 2 wks Fri 2/15/19 Thu 2/28/19
implementing changes 2 wks Fri 3/1/19 Thu 3/14/19
Milestone 3 0 wks Thu 2/28/19 Thu 2/28/19
Direct mail 50 days Fri 3/1/19 Thu 5/9/19
Design flyer 2 wks Fri 3/1/19 Thu 3/14/19
Approving the design 2 wks Fri 3/15/19 Thu 3/28/19
Create list for distribution 2 wks Fri 3/29/19 Thu 4/11/19
Print Flyers 2 wks Fri 4/12/19 Thu 4/25/19
Distribute flyers 2 wks Fri 4/26/19 Thu 5/9/19
Design postcards 2 wks Fri 3/1/19 Thu 3/14/19
Approve design 2 wks Fri 3/15/19 Thu 3/28/19
Create list for distribution 2 wks Fri 3/29/19 Thu 4/11/19
Distribute postcards 2 wks Fri 4/12/19 Thu 4/25/19
Milestone 4 0 wks Thu 5/9/19 Thu 5/9/19
Web advertising 35 days Fri 5/10/19 Thu 6/27/19
Develop YouTube Video content 3 wks Fri 5/10/19 Thu 5/30/19

8MARKETING STRATEGY AND PLAN
approving the video content 1 wk Fri 5/31/19 Thu 6/6/19
play on YouTube 3 wks Fri 6/7/19 Thu 6/27/19
Milestone 5 0 wks Thu 6/27/19 Thu 6/27/19
Sales promotion 75 days Fri 6/28/19 Thu 10/10/19
Design poster 3 wks Fri 6/28/19 Thu 7/18/19
approve design 3 wks Fri 7/19/19 Thu 8/8/19
Create distribution list 3 wks Fri 8/9/19 Thu 8/29/19
Print posters 3 wks Fri 8/30/19 Thu 9/19/19
Distribute posters 3 wks Fri 9/20/19 Thu 10/10/19
identifying the market competitors 3 wks Fri 6/28/19 Thu 7/18/19
developing concept 3 wks Fri 7/19/19 Thu 8/8/19
approving the concept 3 wks Fri 8/9/19 Thu 8/29/19
launching the concept 3 wks Fri 8/30/19 Thu 9/19/19
Milestone 6 0 wks Thu 10/10/19 Thu 10/10/19
Distribution planning 4 days Fri 10/11/19 Wed 10/16/19
Store the products into inventory 1 day Fri 10/11/19 Fri 10/11/19
Send out to franchise and selected stores 1 day Mon 10/14/19 Mon 10/14/19
Monitor Stock 1 day Tue 10/15/19 Tue 10/15/19
Restock 1 day Wed 10/16/19 Wed 10/16/19
Milestone 7 0 days Wed 10/16/19 Wed 10/16/19

9MARKETING STRATEGY AND PLAN
Image of the timeframe

10MARKETING STRATEGY AND PLAN
Major contingencies that may arise and describe the proposed responses to each
Two of the major contingency in this marketing plan will be the scope creep that can
occur due to change of original requirement. As there are several project teams working n the
same project, the probability of changing in the original product may arise frequently. The major
disadvantages in this case are timeframe contingency and delay in product launching. However,
this issue can be overcome by estimating the day of last three month after the estimated dates. In
this way, the last moment problem can be avoided. Another disadvantage is faced is the cost
issue as delay in project required additional financial resources. Delay in approval is another
major contingency and will occur due to the fact that the higher authority need time to
understand the additional plan. This need in extra time is also a reason for delay in launching the
products. This adversity is planned to overcome by strengthening the communication system in
the organization.

11MARKETING STRATEGY AND PLAN
F. Reference List and Bibliography
Aaker, D. A., & Damien McLoughlin. (2010). Strategic Market Management: Global
Perspectives. John Wiley and Sons.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction.
Pearson Education.
Cunning, P., Armstrong, G., R. Kotler, P., & Trifts, V. (2013). Principles of Marketing. Pearson
Education.
Ferrell, O. C., & Hartline, M. (2010). Marketing Strategy. Cengage Learning.
Fine, S. H. (2017). Introduction to social marketing. In Marketing the Public Sector (pp. 1-12).
Routledge.
Lidstone, J., & MacLennan, J. (2017). Marketing planning for the pharmaceutical industry.
Routledge.
McDaniel, C., & Gates, R. (2013). Marketing research. Singapore.
Solomon. (2009). Launch! Advertising and Promotion in Real Time. Flat World Knowledge.
Steenkamp, J.-B. (2017). Global Brand Strategy: World-wise Marketing in the Age of Branding.
Springer.
Tradecommissioner.gc.ca. (2018). Tradecommissioner.gc.ca. Retrieved 8 April 2018, from
http://tradecommissioner.gc.ca/innovators-innovateurs/assets/pdfs/
Invest_Canada_Science_Technology_Innovation_eng.pdf
Westwood, J. (2016). How to write a marketing plan. Kogan Page Publishers.
Wrenn, B., & Mansfield, P. M. (2014). Marketing planning guide. Routledge.