Digital Angel Marketing Analysis
...trol station. The infrastructure of transmitting the information, is handled by an AT&T network, that sends all of the data via the internet to a third party’s PC; the whole process takes about ten seconds. Digital Angel inventive, new product is almost alone in its niche, it provides great branding and positioning potential, because they are a start-up company that still has a clean white page to start on. Unlike for example, a persuasion or offensive marketing strategies, which can be more risky and expensive. However the market looks very promising, with a combined potential of $ 75 billion. This figure stems from the combination of 26 target markets including health, safety, security, asset management and other social Hake 3 segments. Nevertheless, focusing on monitoring the elderly and children still shows incredible numbers. Medical monitoring has at least 10 million potential consumers, and this particular niche is going to triple in size by 2010 when the baby boomers grow older. Not including 5-8 million Alzheimer’s patients. But the child safety market is even bigger. If we only chose to include kids up to the age of twelve, 43 million could realistically be in need of Digital Angel. This could mean that in he next years the approximate number of 900.000 missing children cases a year will finally decrease. Playing with these numbers, year one should allow for at least 350.000 units to be moved. The text suggests three marketing/promotion plans, an Internet only campaign, a direct mail program, and print/cable TV advertising combined with PR. But before I get to the ‘P’ as in promotion I would like to go over the other two ‘P’s’, since you already know the product. The introductory price is going to be $ 299.-, with costs being around $ 140.- per device. You will also need to choose one of three monthly subscriptions that will allow you added and upgraded features as you go from basic to silver to gold service. Guessing conservatively the retail price should drop circa 30% while becoming more technologically advanced and smaller in size as we move along the PLC trend for the next 2-4 years. Hake 4 To distribute this ‘golden’ gadget, I believe in keeping it simple. One big channel could hopefully be set up to move, with the approval of the FDA, Digital Angel from HMO’s to the doctor, who brings the product to the patient. Other forms of sales distribution will be made available through the website, which had an unmatched 5 million visitors one year after the product was announced and not even ready yet. Another efficient form will be the use of direct marketing like catalogues and direct mail targeted very specifically. Since Digital Angel is just about to get started, the marketing mix idea of promotion becomes extremely important. This product needs to be present at many relevant tradeshows for doctors, medical devices, other high-tech gadgets and potential markets. The use of internet with links from other websites and search engines to ours also needs to be included as well as a direct mail campaign. Another efficient and cheaper form is a combination of PR mixed or resulting in the old fashioned word-of-mouth. This particular form already resulted in numerous hits on the website early in Digital Angel’s life, but also you should keep in mind that this device will most likely be bought by someone for someone that needs it, so that the emotional targeting ...