Executive summary
Drone technology has been in used for quite some time now in many western nations for military operations. More recently, this technology is being applied to manufacture inexpensive technology and in the filming technology. Unmanned systems commonly referred to as drones continue to be made available to different consumers globally for their private means. The use of drones in the film making industry has helped to improve the quality of films produced. Further, it has increased efficiency and grown the film industry as film directors are able to capture moments that were nearly impossible to obtain some few years back when cameras on tripod stands and those that were hand held were being used. Unmanned drones that contain filming cameras have many conveniences and efficiencies including and effect of reduced operational costs. Instead of hiring a large number of people to carry cameras when filming, unmanned drones only require few operators who determine the position of the camera and the shots that should be taken. It is only in the editing process where the film production will have to increase the number of staff.
Brief discussion of the product
The product being marketed is a camera that is attached to unmanned Ariel vehicles (drones) the unique element about this camera is that in addition to flying unmanned, it can also be used in extreme weather conditions such as intense sunshine and in heavy rain. (Hanssens et al. 2014) This camera is also usable in high distances above the each making it a unique product that is able to capture unique scenes (Andaleeb, 2016). It is expected that this product will be embraced by film makers due to its convenience and efficiency in the long run. Though the initial investment required is high, it is expected that the movie making firms which used to buy the products will be able to realize its gains in a short period of time as they reduce their film making budget (Goodrich, 2015). Film makers will be able to capture real scenes in extremely hot sunshine or in a heavy downpour without having to simulate the conditions. In the long run, it is expected that firms will realize the gain of using drone technology in recording their films as they see the costs going down to manageable levels.
Mission statement
In the current market place where technology is rapidly advancing, it is becoming increasingly necessary for film making companies to adopt this technology to reduce their operational costs and increase their profitability (Andaleeb, 2016). This product is designed to improve the experience of the consumer of the films and to ensure that film makers have different options available as they explore the best settings for capturing varying scenes (Ryan, 2016). The marketing team has a commitment to ensuring that the cameras that they sell use the latest technology that will boost consumer experience and if possible exceed their expectations (Hanssens et al. 2014). The company aspires to increase its market share and the popularity of its product through the launch of a camera that employs drone technology and is able to meet the unique needs of each film maker. Different from other drone cameras that are already available in the market, this camera will be tailor made to meet the needs of each prospective client.
Marketing goals and objectives
The company targets to reach out to twenty film makers within the first twelve months; ten in Hollywood and the other ten from the other states of the United States of America (Goodrich, 2015).
The projected sales within the next twelve months are expected at 200 units of cameras using drone technology each retailing at a value of $1 million. As such, the company expects to make revenues of $200 million within the next twelve months
The marketing team will target established film makers in Hollywood and amateur film makers who are rapidly rising.
The marketing strategy that will be employed will be that of physical marketing through appointments (Ryan, 2016). Due to the complexity of this technology, the company will hire marketing representatives who have an intricate understanding of this technology.
The company has set aside an amount of $20 million as the marketing fund which will be available to the marketer in the next 12 months.
The company intends to increase its revenues and market share by advertising in mainstream media and publishing features in film making magazines to explain the technology used in making the cameras clearly.
SWOT analysis
Technological advancements have been widely supported in the country as different firms continue to look for ways of reducing operational expenses. The government has been at the forefront in encouraging innovation and creativity that will increase the gross domestic product through employing many people (Andaleeb, 2016), The major strength of cameras using the drone technology is that they are cost effective in the long run and they are able to give film makers a higher number of options in the movies that they can create and in the methods that they can employ in creating these films. In the long run, drone technology used together with cameras works to improve the overall quality of films produced (Goodrich, 2015). The weakness in marketing this product is that it is an expensive product that mainly arises out of the technology used in designing cameras that are fitted to drones (Kotler et al. 2015). To boost the level of sales, the company intends to rely on the past records of the clients who have used this technology and seen its benefits as a point of reference to prospective buyers who might be skeptical about the technology (Ryan, 2016). Since the technology used is highly advanced, the company will need to hire skilled personnel to market the product which will cause an increase in the marketing budget.
The opportunity that the marketing team faces is that of an increasing demand for cameras that are operated by unmanned Ariel vehicles. Since film makers are desperate to reduce their operational costs, they are quickly turning to technology that enables them to cut on their cost (Andaleeb, 2016). Meanwhile, the increased demand for quality films has pushed film makers to adopt different technologies that can give their viewers a unique experience as they consume this media content.
The threats in the market mainly arise from competitors who have applied this technology to manufacture cameras that are powered by drones. In this contact, the marketing team will seek to be doing aggressive marketing in the mainstream media, on social media and by booking slots in the annual film makers fair (Ryan, 2016). In their view, these efforts will pay off as the prospective film makers gain an increased awareness of the existence of a technology that allows them to use drone powered cameras that are not affected by the weather.
Industry analysis
Drone technology is not a new technology in the market. Recently it is widely used in the military, its use for a period of ore that one decade has enabled the government to fix all the bugs that were previously associated with the defects in this technology (Goodrich, 2015). The industry is increasingly open to technological advancements that will need to increase profitability through a reduced cost. What is more is that the market has already been penetrated by other industries that have used this technology.
Market segmentation
The marketing team of the company will conduct a marketing segmentation based on the geographical location of the film makers. Presumably, the film makers who are domicile in other states will not be aware of the slight price differences that the product may retail at (Ryan, 2016). Whereas the company will sell these units at a nonnegotiable price of $1 million to Hollywood film makers, they will consider giving a discount to amateur film makers.
Market research
Secondary research will be conducted by the company through reviewing periodical technological journals that detail the progress of businesses which have previously sold products that use the drone technology. Primary research will be done through interviews and online panels with film makers on whether they think the technology is viable and they can reap long-term benefits (Ryan, 2016). This study will also seek to uncover whether any setbacks are associated with this technology.
Market positioning
There are a number of companies in the United States which are currently using drone technology. They include telecommunication firms, amazon prime air, UPS, royal mail delivery drones, police drones and other individuals who are using drones for farming (Goodrich, 2015). The value proposition that will be presented to the target market is that the drone technology has been tried and tested and the bugs there in fixed. The value chain will constitute in marketing, ordering the product, after sale services which will mainly involve training regimes.
Branding
The brand personality that is preferred by the marketing team for this product is one that is exquisite and brilliant (Andaleeb, 2016). This drone technology is the most advanced technology that is available in the market, and that has been tested by a few film makers to improve the quality of the output. Elements employed in branding will seek to demonstrate that the product will definitely help film makers to produce films that are of a more superior quality and those that contain a variety of scenes.
Marketing mix and product strategy
The distinguishing factors of these products are that they use drone technology to capture a number of scenes. Essentially, the drone technology helps the company reduce its operational costs through the reduced number of staff who are required to man these products (Andaleeb, 2016). By and large, warranties will be given by the company to reassure clients of the reliability of the product.
Pricing strategy
This product will be priced at rates that are commensurate to similar products in the enterprise (Goodrich, 2015). The management of the company has determined that they will issue loyalty cards to those film makers who buy more than two units so that they can be able to get discounts on their future purchases.
Place strategy
This product will be delivered to prospective clients through shipping after they order for the other online (Ryan, 2016). Due to the sensitive nature of the drones that are fitted with cameras, the company will prefer to handle them by themselves to ensure that they are delivered to their clients in pristine conditions.
Promotion strategy
Promotion of the product will be done by advertising in mainstream media platforms and by posting the information on social media (Goodrich, 2015). Generally, the marketing team expects to make the largest number of its sales through direct marketing that will be done by sales representatives from the company.
Marketing metrics
The marketing team has set sales targets and revenue targets which will act s performance indicators that will be used to ascertain whether the company is making inroads in the drone camera market (Ryan, 2016). Information published by Research Company’s ant, the market share of the company, will also be deemed to be necessary for evaluating the influence of the enterprise.
References
Goodrich, R. (2015). SWOT analysis: examples, templates & definition. Business News Daily.
Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital generation. Kegan Page Publishers.
Andaleeb, S. S. (2016). Market Segmentation, Targeting, and Positioning. In Strategic Marketing Management in Asia: Case Studies and Lessons across Industries (pp. 179-207). Emerald Group Publishing Limited.
Hanssens, D. M., Pauwels, K. H., Srinivasan, S., Vanhuele, M., & Yildirim, G. (2014). Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), 534-550.
Kotler, P., Keller, K. L., Manceau, D., & Hémonnet-Goujot, A. (2015). Marketing management (Vol. 14). Englewood Cliffs, NJ: Prentice Hall.
