Marketing plan for touch glass keyboard using four Ps
Marketing Mix has four components: *Product * Price * Place *Promotion
We will use them to make marketing plan for Touch Glass Keyboard for Brand name ‘Touchtech’ But before creating the marketing mix for it we have to identify the target market for the product.
Target Market: The target for this innovative product is experimenting, high-earning youth. Who loves to spend for innovative products and have a deep pocket to spend for a product which has just been introduced.
Product: ‘Touchtech’ keyboard is the high quality touch glass keyboard. It is made up of a tempered glass with solid metal base and can connect to computer with USB or Bluetooth. It has an innovative design where touch sensitivity comes from Infra red LED that projects light on the surface and thus it senses the touch on the screen. The product is in between introduction and growth phase in the product life cycle.
Price: The price of this product will depend on the manufacturing cost added with promotional/marketing cost and the desired profit margin. For example the manufacturing cost we incurred for manufacturing one ‘Touchtech’ keyboard is $5 and we are spending $5 on marketing/promotion etc for the product then the ideal price for this will be $15 or $20 in the market, with the profit of $5 or $10 depending on the product perception in the market.
Place: As the product is targeted to youth and is a innovative product not for masses, we can use online sales method for sales. The product will be sold via online digital stores to the target customers. Also it can be sold via elite high-tech stores present in malls. The product will stay safe in company warehouse and will be couriered with safe packaging as per the orders.
Promotion: As we are planning to sell a big chunk of product online, we must market it online also along with other media. For online promotion we will use social media, Digital trade sites, sports and fashion websites with the help of banners and other modes. For on site promotions we will perform promotional activities in malls where the product has been displayed. Also advertisements both print and digital along with TV commercials will be running for support.
