Time frame, national or regional rollout Since the ” Save lives, prevent and reduce vehicle-related crashes” is NHTSA's principle, our goal is protect the children's security and help parents take care their children. The marketing elements of our products of Children Safety Anti-Lock System are not only quality and technology, but also successful marketing strategies which are showed below:
1. Initial objective i. Create the partnership with car manufacturers We plan to create the partnership with car manufactures to sale our products to target customers. First we take aim on top 10 car manufacturers. Here is the list of World’s Top 5 Car Manufacturers Companies 2011-2012
No: 1 Toyota
It is a well known fact that Toyota is leading automobile manufacturer and the company founded by Kiichiro Toyoda in 1937 as a spinoff from his father’s company Toyota Industries to manufacture automobiles. Toyota employed around 317,734 people around world wide Total no. of vehicles in 2010: 77,743,862
Revenue: $235.89 billion (FY 2010)
No: 2 General Motors General motors’ is the world’s second largest automaker that does business in 157 countries and it is an American multinational automotive corporation located in Detroit, Michigan. It was founded by William C. Durant on Sep 16, 1908. Total no. of vehicles in 2010: 8,476,192
Revenue: $135.592 billion (2010)
ii. No: 3 Volkswagen The other famous automobile manufacturer which also owns cars like Audi, bugatti, Set, Skoda, Lamborghini and truck manufacturer scania is Volkswagen and the word Volkswagen means ‘people’s car’ in German. It was founded by Ferdinand Porsche on 28th may 1937 Total no. of vehicles in 2010: 7,341,065
Revenue: Euro 126.88 billion (2010)
No: 4 Hyundai Motors This is one of the fastest growing automaker in the world and headquarted in Seoul, South Korea and its manufacturing facility in Ulsan are capable of producing 1.6 million units annually. Around 75000 people across the world have been employed by Hyundai motors and the vehicles are sold in 193 countries. It was founded by Chung Ju-Yung on 29 December 1967 Total no. of vehicles in 2010: 5,764,918
Revenue: $33.6 billion (2010)
No: 5 Ford Motor Company It is also the second largest automaker in the US and fifth largest in world based on its annual sale in the year 2010. Besides Ford and Lincoln brands, it also owns Mazda in Japan and Aston martin in UK. It was founded in the year 1963 on June 16th by Henry ford an automaker based in Dearborn, Michigan. Total no. of vehicles in 2010: 4,988,031
Revenue: : $128.954 billion (2010)
iii. Create the partnership with car seat manufacturers The child car seat manufacturers can also be our channel partners since the weight senor module can be separately sold and preinstalled under the child safety seat. Therefore, another important strategy in our initial objective is create the partnership with famous car seat manufacturers. Here is the list of Top 5 Carseat Manufacturers Companies 2012:
No.1 Graco SnugRide 35
Their Graco SnugRide 35 is the best baby car seat and the winner of the TopTenREVIEWS Gold Award. The SnugRide 35 has earned our top award not only for making a baby car seat stylish, but for easing safety worries with its energy absorbing foam and specific side impact protection.
No.2 Chicco KeyFit 30
Chicco’s parent company, Artsana, is one of the biggest baby brands in Europe, and we couldn’t be happier that their brand has gained such a permanent footing in the United State’s baby car seat market. Chicco has created a baby car seat that is easy to install, easy to adjust and easy to clean.
iv. No. 3 Britax B-Safe
The engineers at Britax are masters at creating safe children's products, specializing in baby travel systems such as strollers, baby carriers and baby car seats. While Britax car seats may look just like every other car seat, they are equipped with advanced safety features such as side-impact protection, integrated steel bars and a streamlined lower LATCH system that Britax calls 360 Degree Protection technology.
No.4 Safety 1st onBoard 35 Air
For over 25 years, Safety First has been developing technology to keep your children safe whether at home, at play or on the go. Their Safety 1st onBoard 35 Air is an excellent example of the technology they focus on. The onBoard 35 Air is one of the best baby car seatson the market, especially for safety features.
* No. 5 Evenflo SecureRide 35 e3
The Evenflo SecureRide 35 e3 is one of the two rear-facing baby car seats manufactured by Evenflo. It has an impressive lineup of safety features including a triple layer of energy-absorbing foam built into the sides of the car seat. This foam reduces the force from a side-impact crash by 50 percent. Long story short, this car seat is one tough cookie.
v. Create Consumer Awareness Consumer awareness is the process of notifying the public or target customers about new products, recalls on products, disease outbreaks, public service information and many other types of news. We use certain advertising mediums like newspapers or radio ads to promote consumer awareness.
vi. attract a stable set of investors and customers we are not only increase benefit by attracting consumption of customers, but also establish a stable financial base by attracting investors' investment. The main strategies are:
vii. Expand the sale region The end demand of our product is the parents who pay attention on children's security, which means the target market is parental drivers in everywhere. We will target our local geographic market initially and eventually expand to the south of United States with further expansion across the country within five years. 2. Short term objective.
viii. Expand the sales across the country Since the end demand is parental drivers in the world, our short-term sales target is expand our sales to west of USA and across the country.
ix. Establish partnership with NHTSA Since NHTSA put forward the principle of children security, one of our strategies is establish partnership with NHTSA to enhance credibility and persuasion of product. Once gain recognition from NHTSA, we can earn not only trust and recognition from customers, nut also the stable market targeting.
x. Build publicity and customer trust maintain the core customer group and build trust and goodwill amongst the customers. To avoid competitors plagiarize our product, we need to develop our own uniqueness. To develop the uniqueness, we need to gain good reputation and customer trust. Therefore, our short-term goal is to establish the brand awareness and customer trust.
xi. Gain the market share of main market Since our new produce is innovation and advanced-technology, there are no similar products which use weight sensor in car-seat and connect it with central car lock control system like us in market. Therefore, one of our short-term objectives is to gain the market share in the main market since our product is the most distinctive so far.
3. Long term objective xii. Expand to overseas markets U.S. Department of Transport (USDOT) formulated regulations on the use of child car seats in 1971, which was revised in 1981, and urged all states to follow up with proper legislation and execution. In Australia, Canada, UK, Germany, Japan, Singapore, Taiwan and many other countries and regions, there were definite laws and regulations about the use of child car seats. It was stipulated by laws of many countries that children under the age of 12 or under the height of 150cm must be safely seated in child protection devices that were formally approved for production (See table below). Regulations on the compulsory use of baby car seats
Country| Age must use baby car seat| UK| children under 3| Sweden| children under 7| Germany| children under12| Netherlands| children under 12| France| children under 10| Italy| children under 10| Israel| children under 4| South Africa| children under 16| Japan| children under 12| South Korea| children under 6| Singapor| children under 8| Australia| children under 8| Canada| children under 5| US| children under 4| According to this spreadsheet, we can know that there's a lot sales opportunity to enhance sales revenue in overseas markets. Therefore, we plan to expand our sales to overseas markets after firming up the reputation in domestic market. xiii. Gain market share of overseas market
Our principles are security, trust, and quality. In addition, our product is innovating and advanced-technology. We will enter the overseas markets by holding those principles and characteristics and cooperating with partner companies and promotion strategies. There is the simple plan of overseas entrance below:
Country Identification Undertake a general overview of potential new markets. Classify the country such as China and Cuba, Canada and the United States and European Union. Preliminary Screening Score, weight and rank nations based upon macro-economic factors such as currency stability, exchange rates, level of domestic consumption and so on. Base on the information above, we can start calculating the nature of market entry costs. In-Depth Screening
Using 4P’s and STP to understand what prices can be charged in the nation? - How does one distribute a product or service such as ours in the nation? How should we communicate with are target segments in the nation? How does our product or service need to be adapted for the nation? Final Selection
In this step, after the analysis above, we could reflect upon strategic goals and look for a match in the nations. Also we would look at close competitors that have already entered the market to get firmer costs in relation to market entry. A final scoring, ranking and weighting can be undertaken based upon more focused criteria. Direct Experience
We have to be flexible and experimental in new nations, and not be judgmental, because the experience we have is based upon our life and own nation, that means what the expectations we have are what we already know.
Limitations or potential threats to success 1. Limitations i. It might have some compatibility problems of hardware and software. ii. It’s hard to sale our product to the end demand consumers if the partners of car manufactures or car seat manufactures are not enough. iii. The end demand consumers might not aware our produce if the partner manufacturers don’t promote our product to the customers. iv. It’s hard to get the feedback from end demand customers directly.
Therefore, we should strengthen the technology department and continue research and develop products. Also, sign the contract with the partners to promote our product to end demand customers so that we can improve our product by getting the feedbacks from our end demand customers.
2. Copies plagiarizing v. The other companies might plagiarize the idea of our product. vi. The big companies might copy our product and might be our main competitors base on their exist visibility and reliability.
We should maintain our competitiveness by making the product a product of a unique price advantage, not easily replicable, high technology, easy to use, high quality, reliability and brand awareness in order to maintain unique position. Also we should continue to take into consideration the feedback from customers and carry out market research to improve our product, in order to be the leader in the market.
References Car Seat Laws for the United States and Canada. Retrieved on July 20, 2012 from http://www.inventiveparent.com/state-laws.htm
Regulations on the compulsory use of baby car seats source: http://www.cheshi.com.cn/news/2005/5/10022.asp