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In the short-term (1 year), the objective is to create awareness through newspapers, online advertising and live demonstration will be conducted at institutes’ open house events, and where the new students will be introduced to this new technology together. Strategy can also select some institutes to trial on this printer for 6 months which will helps to augment its marketability and school’s perception of the product. In the mid to long term (2 to 4 year) the objective is to provide customization and value-added solution to institutes that have been insistently using our products and services.
Customization will be offered to meet institutes’ requirement and we can offered includes product training and customer consultation on the printers that are offered to them. Strategy can also provide maintenance, repair service and improving product safety as an additional value- added solution. This will aid in promoting more institutes to use AD printing in product development through word-of-mouth recommendation. In the long term (4 years onwards) the technology will be well recognized in the minds of the most institution, and this will enable Strategy to gain loyal customers.
With an increase in market share, Strategy will be able to fine-tune on the price offered to make it affordable to allow more users to explore the technology, and also created more applications for it. For example, smaller printers will be produced to cater to small companies, and sector specific types for dental, aerospace, and medical. Ultimate goal will be gaining competitive advantage in the marketplace. 7. 3 Marketing Mix Marketing mix was designed as a simple way to focus attention on the main elements f marketing for a business and to create a marketing strategy to the business, products or services.
The traditional of marketing mix consists of four main elements which is product, price, place and promotion. They are the combination of marketing efforts that to meet and satisfy the needs and wants of consumers. But in a modern world, marketers have developed to seven As of marketing mix, which comprises the former APS and added people, physical evidence and process. (Valetudinarianism. Net, 2013) 7. 3. 1 Products Strategy has three main series of printers which is cater for different purposes.
Idea Series printers bring AD printers to smaller teams and individual, which allows will be suitable for institutes that offered Jewelry designs course. As for design series printers, it helps to improve on communication, collaboration and problem solving. With the use of photometer materials, it helps to create flexibility and confidence in product presentation. It is definitely more suitable for institutes that have offered product design offered. This will helps the students in completing and exhibiting their final products. Lastly is production series, it provides speed, accuracy ND efficiency at an affordable cost.
As for this series, it will be catering for engineering students. Each series of AD printers will benefit institutes in reducing time, cost and increase of accuracy and efficiency. Apart from individual printer purchase, we do offer customized bundle packages for customers who wish to purchase more than a printer. 7. 3. 2 Price Pricing plays an important role as it determines the revenue generated, therefore, price has to be attractive and affordable. Price of AD printers that Strategy offered depends on the size and purpose of the printers.
Most students n Singapore have a Faceable account, thus they are able to view Faceable Chart B – Faceable Users in Singapore 7. 3. B Event Road Show This is a different marketing strategy, compared to digital marketing. This marketing strategy requires physical demonstration and explanation of AD printers at an event. This will attract the curiosity of potential customer that is new and curious to this technology. For such events, well-trained staffs will be present to demonstrate the advantage of AD printing technology and help to resolve on consumers’ questions. 3. C youth Youth is an online media streaming website which users are able to access internationally. It is considered an inexpensive advertisement media to market products and services as the resources require are only computers, video camera and internet connection. Strategy can upload videos on AD printing into Youth which will create more awareness internationally. Users will then use mouth-of- words to share this video with their families and friends, thus it will broaden the publicity of AD printers to new customers.