Introduction
The new product that I want to introduce is a watch with the thinnest case compared to all existing watches. Thanks to the latest technology of lithium-ion and solar batteries, it has the ability to hold a charge much longer than all other products of competitors. Moreover, this type of watch has a built-in glucose meter to measure the amount of sugar in the blood.
Main body
According to Maslow’s Pyramid, this type of gadget will satisfy the second stage – the need for security. This will be done because the watch has built-in pressure and temperature sensors and a blood glucose meter. At the specified low or high indications of the watch holder, data on the critical state of the person’s health and their location will be sent to the relatives’ phones in case emergency assistance is required. Willmott et al. state that if we consider motivation from the side of Freud’s theory, then motivation is unpredictable and inconsistent, since the structures of a individual’s personality are in constant conflict (230). That is, according to Freud, people often do not realize what the motivation is, but the desire is dominant.
According to the decision-making model, a person will rely on different needs when buying a gadget. The first thing is that a person needs to realize the need. For example, an adult woman with diabetes does not want to wear a separate watch on her hand and a blood glucose meter in her purse. She likes to walk and worries that there will be no one around who can help her in an emergency. In the next step, she begins to search for information about products that can provide her with all the necessary functions, in addition to being light and comfortable when worn on the wrist and that do not require frequent recharging. After finding the essential information, the consumer will compare products by the necessary characteristics, quality, and price from different manufacturers. Then, after selecting the most appropriate option, the consumer will read reviews about it, which are likely to influence the final decision. In the end, the buyer purchases the product and will either be satisfied with their choice or not.
Customers will be motivated by the maximum availability in the gadget of those functions that they need in everyday life. The search for product information is often done via the Internet. On the Internet, consumers can learn all the necessary information, read reviews of other users, and easily and quickly compare one product with another. In addition, they can get information about the products directly in the store by checking all the factors of interest with the sales consultant. The most important attributes when choosing will be the appearance, price, and quality of the product.
In this segment, there is a reasonably high level of competition. Having studied the market and the needs of customers, companies such as Apple, Samsung, and the Chinese manufacturer of gadgets Xiaomi will strive to meet the needs of people in such a convenient watch. All these brands can offer their product to the buyer, but each company offers a product that will not completely meet the needs of their customers. For example, Apple provides a high-quality product, but at a reasonably high price. Samsung has also created a competitive product, but large enough to alienate a buyer with a small wrist. Xiaomi makes watches that are budget-friendly relative to other manufacturers. Still, people who pay attention to the quality of the product and its external data may not make a choice in favor of this manufacturer.
The essential advantage of my product is the thinness and lightness of the case. This is achieved through a new method of casting metal, which is anti-allergenic and robust enough that the watch does not break and has no external damage in the event of a fall. In addition, a new type of lithium-ion battery and a solar battery built into the case allows the buyer to keep the charge for a very long time so that the consumer does not bother to recharge his gadget daily. The built-in blood sugar sensor will allow people with diabetes to measure the indicators, monitor them, and record them in the watch’s memory. This product will have a competitive price so that anyone can have the opportunity to purchase a gadget. The benefit for the company, in this case, will not consist of a mark-up on the product but mass purchases around the world.
When segmenting the market, demographic, behavioral, and psychographic bases are taken into account. In this case, the demographic segmentation includes consumers aged six years and older, male and female, with any number of family members, and with any marital status. As for behavioral signs, in this case, the purchase of this gadget is not regular but rather unique since it is carried out to meet specific daily needs. The benefits buyers are looking for are in the quality of the products and the savings on maintenance since there are practically no costs associated with these gadgets. The type of consumer can be different: some people have previously used similar watches from other manufacturers, there are those from whom this watch will be the first such purchase. Since it is planned that this product will be actively advertised, people will be sufficiently aware of its quality, cost, and functionality.
According to the psychographic feature of segmentation, buyers can also be different. In this case, the decision to buy is based on the life position: buyers can be active, calm, positive, and passive. As for values, in this case, the desire for good health must prevail. People’s attitude to innovation is also essential since this product is new and not the same as other manufacturers. That is, at this moment, the watch is designed for innovators.
The primary target market will be people over 18, with an average income, of any gender, of any marital status. This group should have the desire to have a convenient, practical gadget that will help them track their health, daily activity, and those who do not have the ability or desire to charge their watches often. Additionally, these people should be interested in what the gadget looks like and whether it can cause allergies when worn or not. This watch’s unique trade offer is that it is budget-friendly, thin, light, and has lithium-ion and solar batteries, which allow you to charge them much less often than the rest of the competitors’ watches. The case of this watch is anti-allergic, which will attract people with allergies to metal, and the built-in blood glucose meter will make people with diabetes buy this product.
The first advertising goal corresponds to the affective intention and should affect people’s feelings. For example, as an advertisement with an affective intent, you can choose an actress who will tell you that she has diabetes, and she purchased this watch to track her blood sugar level. She will also continue her story, that she was somewhere in a public place and became ill because of a change in sugar indicators, and the clock recorded this change and sent an alarm signal to her relatives who came to help her, thus, advertising can affect the affective component.
The following advertising goal will affect the cognitive component, that is, the thoughts of people. This advertising will be distributed through social networks, namely through video bloggers, the most famous in a particular country. They will test the watch for a specific time and then review it and their feedback on the experience of using the gadget. Often, people look at reviews and trust the opinion of experts in this matter.
The last goal of advertising will be to interact with consumers, that is, the behavioral component. This can be achieved by holding promotions and sweepstakes in the company’s official stores. When buying goods for a certain amount, consumers will have the opportunity to participate in the raffle and receive a new watch as a gift. Thus, after receiving the watch as a gift, consumers will then tell their friends and family members about it and thereby attract new customers.
For the selected target segment, the most effective type of advertising will be promoting the product through the mass media, that is, through TV and magazines. It can also choose personal selling as an ad, including personal contact with the target audience. To do this, you need to attract a sales consultant who will tell you about the product most accurately and thoroughly and will be able to influence the buyer in such a way that he wants to buy this particular watch.
The watch will be called Target, as it can help achieve many people’s goals. With the help of television, a short video will be distributed about how people set goals and how the watch helps them achieve them. On social networks, bloggers will make posts about their experience using the watch and write about how it helps them in their daily lives. The magazines will feature a beautiful photo of the watches with flowers that will show their appearance, and a similar image will be placed on billboards.
Conclusion
In conclusion, these watches can eventually become the market leader of such gadgets because they are affordable, made of high-quality anti-allergenic materials, and have those functions that other similar watches do not have. In addition, the watch will help to maintain physical activity, help in notifying relatives about a critical situation, and will be a beautiful accessory for both women and men. Furthermore, thanks to the proposed marketing strategy, there will be a lot of information about the gadget everywhere, and sales will grow and increase.
Work Cited
Willmott, Dominic, Ryan, Saskia, Sherretts, Nicole, Woodfield, Russell & McDermott, Danielle. “Motivation: A Critical Consideration of Freud and Rogers’ Seminal Conceptualisations.” Polish Psychological Bulletin, vol. 49, no. 2, 2018, pp. 229-234.