Marketing Plan: Innovation Commercialization for New Headphones Launch

This report outlines a comprehensive marketing plan for the launch of new, technologically advanced headphones. The executive summary provides an overview of the marketing strategy, which includes a five-step marketing plan, a detailed SWOT analysis, and an examination of the competitive landscape. The report details the marketing and financial objectives, the marketing mix strategy, and a digital marketing communication plan. It covers aspects such as target market identification, product positioning, pricing strategies, distribution channels, and promotional activities, including digital marketing and celebrity endorsements. The plan also includes implementation and control measures to monitor the effectiveness of the marketing efforts. Finally, the report offers recommendations and concludes with a review of the overall marketing strategy, aiming to provide a quality sound experience to music lovers and achieve a strong market presence. This report is designed to help students understand the practical application of marketing principles in the context of a new product launch.

Running Head: INNOVATION COMMERCIALIZATION MARKETING PLAN 1
INNOVATION COMMERCIALIZATION MARKETING PLAN
STUDENT:
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DATE:

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Executive summary
The report describes the marketing strategy for the launch of new headphones in the market. The
gadgets are technologically crafted to provide an enhanced user experience through the premium
wireless, customizable and noise cancellation abilities. The introduction gives the background
information to the company and the new products. The next part identifies a five-step marketing
plan followed by an in-depth SWOT analysis and the competition situation in the industry. The
marketing and financial objectives are then followed by the marketing strategy mix describing
the digital communication plans. After implementation, control measures are established to help
in correcting deviations from the marketing objectives. The conclusion gives a quick review of
the whole essay.

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Contents
Introduction....................................................................................................................................4
Background information...............................................................................................................4
Steps of the marketing plan..........................................................................................................4
SWOT analysis...............................................................................................................................5
Strengths.....................................................................................................................................5
Weaknesses.................................................................................................................................5
Opportunities.............................................................................................................................6
Threats........................................................................................................................................6
Competitor analysis.......................................................................................................................6
Mission............................................................................................................................................6
Marketing and financial objectives..............................................................................................6
Marketing.......................................................................................................................................6
Financial.........................................................................................................................................7
Marketing mix strategy.................................................................................................................7
Digital marketing communication plan.......................................................................................7
Implementation and control.........................................................................................................8
Recommendation...........................................................................................................................9
Conclusion......................................................................................................................................9
References.....................................................................................................................................10

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Introduction
Background information
The contemporary marketplace for headphones responds to the needs of the consumers by
implementing special features into the products. Headphones have been highly praised to
enhance the quality of sound and to eliminate any unwanted influences of the external
environment from interfering with headphones' sound. The special features attract audiophiles
and travelers desiring to block undesired noise from plane engines. For this reason, headphones
have been customized to fit the needs of a particular targeted population of the market.
Headphones with noise cancellation ability are light and foldable to increase the ease of
transportation and storage.
The concept of customization has given rise to the creation of the coveted wireless headphones,
the Beyerdynamic's Aventho. It delivers a crystal audio playback for up to 20 years and supports
Apt XHD Qualcomm and availing a standard for Bluetooth transfers at high quality. The
headphones are powered by Tesla driver technology of Beyerdynamic’s signature. They are
slightly bolder and enlarged. In addition to that, the headphones come with the coveted option
for personalization which is facilitated by the MIY application, of Mimi Hearing Technologies,
giving it a brilliant touch. The application is configured to tweak the headphones. The MIY
application will conduct a sound check for the hearing attributes of a listener and provide a sound
profile tailored to those attributes.
The other type of device introduced into the market is the Blue Satellite Headphones which has
been crafted to help audio lovers to enjoy the silence of the external environment. They will
provide crisp-clear sound through the wireless platform. It also has a boasting patent in noise
cancellation technology. In addition, the Satellite headphones have a premium wireless
technology and an audiophile in-built. The active noise cancellation done by the device is done
without any compromise to music (Luxatic, 2017).
Steps of the marketing plan
i. The company is producing a new product of hi-tech headphones into the market. The
headphones are wireless enabled by Bluetooth, noise cancellation and have a

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personalization ability. The market for headphones is wide, especially with the high-end
consumers.
ii. The headphones will be targeted to the demographic section reported to have the highest
number of users and this is the age group of 16 years to 28 years.
iii. The marketing goals for the headphones are to create awareness of earphones, increase
sales and maintain the company’s market share.
iv. The strategies of marketing communication will be through the social media, television,
print media, advertisements in music websites and billboards.
SWOT analysis
Strengths
The headphones have strengths in the brand name. The distributing partners and the software
producers have established brands and will be featured in the advertisements to boost the appeal
in the promotion efforts. The headphones produce a sound of high quality because of active noise
cancellation placing them at a higher position among the competing consumers in the market.
The Bluetooth and personalization technology enhances the experience and the sense of fashion
which creates an upper-hand in the appeal to customers. The headphones have a stylish and
unique appearance and come with a wide range of colors. The market potential has a great
number of prospective users in the age bracket of 16-28. The variety of brands will cover a wide
range of music consumers dividing them according to fashion levels, music experience,
applications, and prices. Everyone can be able to buy without any limitation. Manufacturing is
automated and enabling mass production and a quicker availability to the consumers (Loren,
2006).
Weaknesses
Price is the largest limitation to the headphones as a high-end product. The devices are developed
with quality in mind and this increases costs and ultimately passed to the prices to higher levels.
Promotion using athletes, musicians, and other celebrities will further increase the prices to the
final consumer. The products have a challenge of distribution as they are required in every part
of the country.

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Opportunities
The behavior profile of the potential market indicates that headphones are used for about 1-3
hours daily hence creating the need for every prospective customer to own a pair of headphones
for themselves creating the worth to buy (Morgan, 2016). The people are willing to buy the
devices are willing to spend money buying headphones so as to enjoy better sound quality. They,
therefore, have a likelihood to use headphones for a longer period every day.
Threats
Some consumers will probably find an alternative device because of the high prices of the
headphones. Some products of the competitors such as Apple earphones are preferable to the
consumers because of the ease of portability (Petrucka, 2017). Majority of young adults use
competing products like those of Apple because of the big brand. Bad publicity by the promoting
celebrities will be transmitted to the products being promoted resulting in an adverse image of
the particular headphone being promoted.
Competitor analysis
Other headphones in the market are offered at lower prices. The market has big companies
including the likes of Sony, Beats by Dre and Bose which manufacture premium wireless,
Bluetooth enabled and active noise cancellation. Due to the high prices, most consumers will
have the perception of being expensive (Root, 2004).
Mission
The mission of the company is to provide quality sound experience to lovers of music.
Marketing and financial objectives
Marketing
The objective of marketing the headphones is to create their availability to every lover of music
through an enhanced music experience. Another marketing objective is to fully satisfy the needs
of consumers. The headphones are made with a customizable fashion to enable music lovers to
have a unique music experience to satisfy their individual preferences (Koumoutsakou, 2017).
The target market for headphones is the young adult population with interest in the exemplary
music experience. They have a greater interest in having a pair of headphones that are a good

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looking appearance with a high quality of sound. The young adults are the main part of the
demography which is interested in fashion and hence will want headphones which are
fashionable. The age of the target market is specifically ranging between 16 years to 28 years.
They are largely the male connected to urban lifestyles with an income level of averaging around
$50,000. The influence of sports, hip-hop, and pop music culture and athletics are the drivers that
thrust the market toward more luxurious items and fashion (Sharma, 2013).
Financial
The profit margin of introducing the headphones into the market will be expected to range at
around $50 billion in the first year of rolling out. The projected annual income is estimated to
increase by 10% of the profit of the previous year. The marketing costs should be limited to a
maximum of 17% of the price of a product.
Marketing mix strategy
Digital marketing communication plan
The digital marketing strategy will firstly use the television advertisements that will portray an
everyday person to create appeal like the students and mums as identified earlier. The television
advertisements should avoid endorsement of celebrities and the athletes. Bus wraps with the
representation of a speaker will be used to portray the headphones, high-quality sound and their
everyday use (Guimerà, 2015). The tools will be made to look like speakers. Print media and
their websites should use parody to stress and interact with the minds of the music lovers.
Music streaming platforms like Spotify, Deezer, YouTube and Podcasts sites will be contracted
to show advertisements to the traffic visiting these sites to steam music. These are high-profile
music distributors which are used by music lovers (Haley, 2009).
Prices
The four P’s strategy for the headphones places them at the high end and will retail at prices
ranging from $350-$500. The Beyerdynamic's Aventho will are priced by the company at $499
filling the market gap in the high-income bracket. The Blue Satellite Headphones will be selling
in the immediate market at $399.99 to provide high-quality audio-experience to the people with a
lower income.

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Placement
The devices have been planned to be placed on the market through wholesalers who will be
buying from official dealers. The dealers will be strategically located in urban centers spread in
different parts of the country (Hansen, 2017). The relationship between the wholesalers and the
dealers will be an exclusive contract between the two parties. The position aims to spread risks
from the manufacturer to be absorbed by numerous appointed dealers. The company will be
contracting the dealers to act on its behalf. Stores that sell items online which will be influential
in placement are the company’s website, retail stores’ websites and the Amazon. Retail stores
will which will help in distribution to the consumers (Guerrero, 2017).
Promotion
The sale of headphones will be facilitated through promotion by recruiting athletes, musicians,
and other celebrities to assist in the advertisement of the products (Donna, 2017). The people
should portray everyday/regular people to make the advertisement to be more effective like the
students and mums.
Product
The headphones are tailored to provide an audio experience of higher quality than any existing
product in the market. They are manufactured to be wireless to give the customers the experience
of fashion (Bhattacharjee, 2017). Bluetooth transfer is the application that is used to connect the
headphones to the music player whether it is smartphones or specialized music devices such as
iPods. They will be configured with music players of all types so long as the players are also
Bluetooth enabled. The apart from being Bluetooth enabled, both the Blue Satellite Headphones
and the Beyerdynamic's Aventho have an inbuilt application for noise cancellation application
that blocks al the external sound from getting to the listeners’ eardrums without interfering with
the music playing (Dhakar, 2017). The active noise cancellation is developed through the
partnership with reputable software application companies.
Implementation and control
An appropriateness of the marketing plan should be measured against the set goals of attaining
sales, becoming a market leader, beating the competitors and keeping the established market
(Cohen, 2015). The success of endorsement of celebrities and advertising will be successful if

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the personalities of the celebrities so the selection of a celebrity must be carefully done to avoid
the situation where an endorsee will cost the brand image of the products at a place where a
person has controversial personalities.
Recommendation
Further marketing strategies during the development phase should consist of diversifying the
targeted market to cover the women and the part of the population aged outside the bracket of 16
years and 28 years who are the current market (Bayne, 2014).
Conclusion
In summing up, a traditional plan of media advertising will give more appeal to everyday
consumers. Most of the tools to create appeal in the first stages of product development will
effectively use a celebrity musician and professional athletes. Showing how everyday people will
be benefiting from using the headphones. An effective advertisement in the social media should
use branded strategies so that the consumers will be able to relate the interaction with the
advertisement with the products.

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References
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Dhakar, G. (2017). Redefining Marketing Mix for Digital Marketing. Pacific University Journal
of Social Sciences, 26.
Donna, D. (2017). Collaboration, Visibility, and Relationship Marketing: Driving Use and
Demonstrating Value of a Consumer. Journal of Marketing, 1-10.
Guerrero, V. (2017). Mobile Business Retailing: Driving Experiential Learning. Journal of
Marketing Education, 19-26.
Guimerà, E. (2015). Social marketing plan. International Marketing, 67.
Haley, G. (2009). Marketing planning and strategy. Marketing Planning, 56-59.
Hansen, J. (2017). A Strategic Marketing Plan. Journal of Strategic Marketing, 99-100.
Koumoutsakou, E. (2017). Multi-level marketing as an employment opportunity. Journal of
Marketing, 1-14.
Loren, D. (2006). EasyJet Marketing. Marketing and Management, 492-501.
Luxatic. (2017, 10 2). Headphones. Retrieved from www.luxatic.com: https://luxatic.com/?
s=headphones
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Petrucka, P. (2017). Perceptions of the impact of an advanced training programme on the
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Sharma, P. (2013). Stage 4-Ads by Category. International Marketing, 345-346.