Introduction
You have just got home from a long day at work, and the door is wide open but no-one inside and everything is gone. This is the situation that over 200,000 people are faced with yearly in just Australia ("The State of Home Burglaries in Australia - Simply Smarter Blog", 2015). Welcome ladies and gentlemen today you will find out about the Touch ‘n’ Go door lock which will protect your home from incidents like this. The product that is being presented to you today is a finger print door lock, with many new and ground breaking adaptations like being linked to an app. During this presentation you will learn more about what we are intending to do with the product including - target market, market research, product, price, promotion, …show more content…
definition and meaning", 2016). My placement strategy will primarily include two components which are websites and stores. The website is a crucial part of our business as it is cost effective, accessible around the clock convenient, credible, and helps sales (Dogulin, 2013). This will work alongside with other the placement of the lock in stores as it has been proven that business with their products in stores have more sales and make more profit (http://www.slideshare.net/brianmartin173/the-importance-of-product-placement-in-the-retail). It will be placed in stores like Bunnings and Mitre 10 as it will make the customers aware of the product therefore more likely to be sold.
Feasibility
This fingerprint door lock is definitely feasible for the market place. Although the product is more expensive than the current competitors as it is more technological, but as shown is the survey when almost 94% of respondents said that they would pay more for my new and innovative door lock. Due to the 4.3% of annual growth from 2011-2016 and the current $5 billion revenue, my product will fit into the current market and is expected to take off with a boom (Ibis world, 2016). This is why, you should all invest in my product so we together can provide everyone with the Touch ‘n’ Go door lock.
Thank
You have just got home from a long day at work, and the door is wide open but no-one inside and everything is gone. This is the situation that over 200,000 people are faced with yearly in just Australia ("The State of Home Burglaries in Australia - Simply Smarter Blog", 2015). Welcome ladies and gentlemen today you will find out about the Touch ‘n’ Go door lock which will protect your home from incidents like this. The product that is being presented to you today is a finger print door lock, with many new and ground breaking adaptations like being linked to an app. During this presentation you will learn more about what we are intending to do with the product including - target market, market research, product, price, promotion, …show more content…
definition and meaning", 2016). My placement strategy will primarily include two components which are websites and stores. The website is a crucial part of our business as it is cost effective, accessible around the clock convenient, credible, and helps sales (Dogulin, 2013). This will work alongside with other the placement of the lock in stores as it has been proven that business with their products in stores have more sales and make more profit (http://www.slideshare.net/brianmartin173/the-importance-of-product-placement-in-the-retail). It will be placed in stores like Bunnings and Mitre 10 as it will make the customers aware of the product therefore more likely to be sold.
Feasibility
This fingerprint door lock is definitely feasible for the market place. Although the product is more expensive than the current competitors as it is more technological, but as shown is the survey when almost 94% of respondents said that they would pay more for my new and innovative door lock. Due to the 4.3% of annual growth from 2011-2016 and the current $5 billion revenue, my product will fit into the current market and is expected to take off with a boom (Ibis world, 2016). This is why, you should all invest in my product so we together can provide everyone with the Touch ‘n’ Go door lock.
Thank