Objectives
First Year Objectives
Following the release of the product, a more advanced COIN 2.0 will be available with added security and functionality. The first-year objective with this new marketing plan is to create consumer loyalty by providing upgrades to COIN 2.0 from COIN for a small fee as well as sell over 100,000 more devices. Targeting social media platforms Twitter, YouTube, and Facebook, COIN plans to penetrate the market by engaging consumers by answering questions and demoing the product thereby advertising the product as easy-to-use and secure (Statt, 2014[GM1] ).
Second Year Objectives Throughout the second year Coin plans to have 250,000 devices shipped. The second year retail sales objective is $8.52 million. …show more content…
We tend to improve the features that just include credit cards but also few other cards such as your MetroCard, Rite Aid card, Baskin Robbins etc., to let the user use one card rather than carrying multiple cards of different use. COIN tries to improve the experience of allowing the most used cards by the user. Marketing will focus on conveying that COIN is more than just another card. It gives customer much more access to many product features from one for all.
Product Strategy COIN will be sold with all the features described in the product review session. As the technology evolves COIN features will be improved to the maximum efficiency, like adding the NFC method of paying in addition to swiping. Also a geotag will be part of the card in order to track transactions and their history in a determined location. An auto-lock feature will be inserted into the card’s software making it anti-theft and more secured and it can be unlocked with a tap-pin. Eventually COIN will be adding the EMV chip in order to fit every machine and transaction …show more content…
Coin promotes a technological approach and having the marketing strategy mirror the product is essential to the products’ image. Youtube, Twitter, Instagram, Facebook, and blogs are all used to inform customers of trade promotions. Specific trade promotions include giving consumers who bought Coin in 2014 a new update, and any referrals will grant them a $5 reward. Other consumers that will purchase the product ahead of time will be able to pay a discounted price before the given date. Using these promotions and marketing strategy allows for Coin to continue penetrating the market while keeping up with its modern tech image. Besides the communication coin allows the early adopters who use the product to share their experiences in the open forum for the new customers who wish to purchase this product.This allows any new user to consider the opinion of the loyal customers into account in buying the
First Year Objectives
Following the release of the product, a more advanced COIN 2.0 will be available with added security and functionality. The first-year objective with this new marketing plan is to create consumer loyalty by providing upgrades to COIN 2.0 from COIN for a small fee as well as sell over 100,000 more devices. Targeting social media platforms Twitter, YouTube, and Facebook, COIN plans to penetrate the market by engaging consumers by answering questions and demoing the product thereby advertising the product as easy-to-use and secure (Statt, 2014[GM1] ).
Second Year Objectives Throughout the second year Coin plans to have 250,000 devices shipped. The second year retail sales objective is $8.52 million. …show more content…
We tend to improve the features that just include credit cards but also few other cards such as your MetroCard, Rite Aid card, Baskin Robbins etc., to let the user use one card rather than carrying multiple cards of different use. COIN tries to improve the experience of allowing the most used cards by the user. Marketing will focus on conveying that COIN is more than just another card. It gives customer much more access to many product features from one for all.
Product Strategy COIN will be sold with all the features described in the product review session. As the technology evolves COIN features will be improved to the maximum efficiency, like adding the NFC method of paying in addition to swiping. Also a geotag will be part of the card in order to track transactions and their history in a determined location. An auto-lock feature will be inserted into the card’s software making it anti-theft and more secured and it can be unlocked with a tap-pin. Eventually COIN will be adding the EMV chip in order to fit every machine and transaction …show more content…
Coin promotes a technological approach and having the marketing strategy mirror the product is essential to the products’ image. Youtube, Twitter, Instagram, Facebook, and blogs are all used to inform customers of trade promotions. Specific trade promotions include giving consumers who bought Coin in 2014 a new update, and any referrals will grant them a $5 reward. Other consumers that will purchase the product ahead of time will be able to pay a discounted price before the given date. Using these promotions and marketing strategy allows for Coin to continue penetrating the market while keeping up with its modern tech image. Besides the communication coin allows the early adopters who use the product to share their experiences in the open forum for the new customers who wish to purchase this product.This allows any new user to consider the opinion of the loyal customers into account in buying the