Essay on Market principle

Submitted By Fufu221
Words: 6290
Pages: 26

Introduction
The aim of this assignment is to prepare a market plan for a new computer and robotic racing game called an “Anki Drive”. This product is currently lunched by a robotics business called Anki. The market plan is required by the business to find out the best way to launch and market the new product. Anki Drive is a new game called Battle, artificial intelligence (Al) and robotics. A player can hold the cars by hand and the track rolls out at his/her comfy area floor. This game only compatible with any apple device, it can work in iPods as twice mode as the phone.
1.0 Marketing analysis and strategy
1.1a PESTLE analysis
Businesses do not function in isolation. It could face difficulties from external factors which could affect an organisation’s policies, products, profit and people. To be aware of any problems, ANKI business needs to evaluate external factors by carrying out a PESTEL Analysis. Macro environmental factors such as PESTEL analysis consist of external factors with much larger influences on an organization from the broader global society. It includes political, economic, social, technology, environmental and legal factors.
An Anki Drive could be affected by political factors, for example, government rules and regulation including employment law, tax policies such as VAT and corporation tax, and trade restrictions.
Economic factors could affect an Anki Drive, this includes recession, interest rates, inflation, exchange rates and unemployment.

Social factors include demographic demand, fashion, taste, demographic factors such as aging population, and consumer behaviour toward a new product.

Technological factors could affect a new product such as Anki drive. These consist of the fast automation of manufacturer and advanced technology, launch a similar product by other business and increase online retailing. However, the high technology of Anki drives especially when using IOS make it different from other racing game.
Environmental factors are mainly concerned with sustainability and behaved ethically. For example, recycling and the removal of industrial waste.
Legal factor are concerned with the copyright for the product, intolerance of workers, health and safety regulation, right of the consumer.

1.1 b. Micro environmental Factors - SWOT analysis (The Mind Tool, 2014; Apple.com, 2014)

Strengths

Having partnership with Apple Company.
Using iOS (Al) family fun game which is suitable for all ages
Ability to use a compatible device by consumer
One year manufacturer warranty

Weakness

Battery life is short
Charge only two cars at once,
Using apple devices only,
High cost of a compatible device, start kits and cars.
Anki drive is new and not well known to the consumers
It is indoor game.
Indoor game only

Opportunities
The Anki drive is a new product launches in the United States.
The product will be sold internationally
The Anki drive will be integrated with a well-known company such as apple which will give them the opportunity to access the market easily.
The income from this project will be invested to develop the Anki drive this will create new jobs opportunity and in turn reduce unemployment rate. competitors may be slow to adopt new technologies

Threats
Using only iOS and apple devices will affect consumer on low income.
The product is new to the market so buyers do not have enough information about it.
Apple's Limited Warranty does not cover non apple branded products even if packaged or sold with Apple products.
Developments in technology may change this market beyond the Anki business ability to adapt.
A small change in the focus of a large competitor might wipe out any market position the business achieve.

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1.2 Marketing objectives and strategies model
1.2.1 The STP
The STP process is vital concept in the marketing. The STP stands for segmentation, targeting and positioning. The…