Description
Market Analysis Selling Objectives and Sales Charting document covers baby product like a monitor and analyses target, geography, demographics, marketing plan and positioning.
Product Identification and Market Analysis Selling Objectives and Sales Charting
Product Identification Product - Baby Monitor
Brand Name – Baby Bell Company Name – Baby Bell Private Limited
Logo Price – Rs.1200 to Rs.1500 Product Information A baby monitor, actually a radio transmitter, allows you to keep tabs on your little one without standing vigil outside your child's door. These compact two-part gadgets — a transmitter and receiver — are particularly useful when your infant is still young enough so that his waking in the middle of the night means he needs you to feed, change, or comfort him. During the day, a monitor also allows you enormous freedom during nap time, no matter what your baby's age. Typically, you place the transmitter within 10 feet of your baby's crib so that it picks up any sounds — such as his moving and crying — once you turn it on. Then you can carry the receiver around the house with you or leave it plugged in by your bed. Most monitors can also run off batteries. Newer models allow your baby to hear your soothing voice, or enable you to see him with a camera.
Market Analysis
Rough overview of Population Statistics* –
Babies Born Annually 27,408,000
Urban Births 6,029,760
Rural Births 21,378,240
65% Institutional Deliveries 3,919,344
35% At Home Deliveries 2,110,416
43%Births in Pvt. Inst. 2,592,797
22% Births in Public Inst. 1,326,547
*Based on data made available on request from the government of India. Source – National Family Health Survey (NFHS – 2 and NFHS – 3), District Level Household Survey and Facility Survey from the year 2000 to 2005. We have begun with the overall landscaping of the market that we are looking at i.e. the total number of babies born in India annually. Out of the babies born we will be targeting SEC AB (reasoning explained in detail later) which will fall in the category of Births in Private Institutions.
Target Market
We will be targeting the parents of the babies belonging to the SEC A and B category. The general break up for SEC categories is as follows – A – 9% B-17% C-21% D-23% E-30%
Thus, out of the total number of babies born in the country we will be targeting only 26% who fall into our target market.
Geographic Locations
We will be marketing and selling Baby Bell Monitor across 6 top tier cities of India which are – ? Mumbai ? Delhi ? Kolkata ? Bangalore ? Hyderabad ? Ahmedabad The selection of cities has been made based on the standard of living and fertility rate. We will be beginning our venture with the initial launch of the product in Mumbai.
Demographics
Baby Monitor demographic profile is as follows – Target Audience – Mother as well as Father Age Applicability – From 0 to 9 months Income – SEC A and B Category
Life Stages – Married with new born, Single parent, working parent, parent with first child, parent with second or third child
Reasons for Targeting
Reasons for targeting mothers as well as fathers – ? Ratio of working mothers in India is on the rise due to which fathers have to share the baby care duties ? Even in case of housewives they have their daily routine to go about during which it would be beneficial for them to use a Baby Bell monitor ? Fathers are the fund providers or the final authority who okays the product in traditional Indian families General reasons – ? Today the house help in the form of maids for baby care is becoming more and more expensive as well as scarce to find. ? The number of nuclear families in India is on the rise, thus no longer are the extended family members living with the parents to help out during the birth of a new baby. Reasons for targeting SEC A and B? The price of our product might be too steep for other socio economic class categories to purchase. Especially since the product is in its nascent introductory stage parents would view this expenditure as an extra cost of baby care. At the same time we are not restricting ourselves to only the SEC A category because it has been observed in case of baby products that parents are less price sensitive. Thus, SEC B has been included as a probable target segment.
Marketing Plan
Phase 1 – Launch of Baby Bell Monitor in Mumbai Phase 2 – Launch of Baby Bell Monitor in the cities of Kolkata, Bangalore, Ahmedabad, Hyderabad and Delhi The marketing of Baby Bell would entail two major strategiesDirect Marketing of Baby Bell using a local Direct Marketing Agency Distribution of Baby Bell Monitor to retailers using company dealers Direct Marketing Strategy (An example of the city of Mumbai) – Step 1 – Identify the places for the conducting the DM activity. We have identified private hospitals and maternity homes as a touch point where parents can be targeted at the POME (Point of Market Entry) i.e. when the baby is born. We have neglected the public hospitals deliberately as they do not attract our target audience and are grossly mismanaged. We have tried to find out the number of babies born in the hospitals of Mumbai to gauge our sales plan.
14000 12000 10000 8000 6000 4000 2000 0
>13000
7200 2400 200 0 Private Nursing Homes 3600 0 Private Hospitals 0 0 Public Hospitals & Nursing Homes
Seg 1
Seg 2
Seg 3
Seg 1 = Where it is profitable to target as well as easy to secure permission for DM Activity Seg 2 = Where it is not economical to target (too few babies per month) as well as difficult to secure permission for DM activity Seg 3 = Not to be targeted Thus, we are looking at approximately 800 deliveries per month and 10,000 babies annually if we target all private hospitals and nursing homes which deliver at least 20 babies per month falling in Segment 1 or Top Tier category. Step 2 – Develop the Pamphlets, CD’s and other promotional materials. We propose the use of Pamphlets with attractive baby visuals with the relevant product information, availability, use as well as price. Moreover we recommend that in addition to the pamphlets in the top tier hospitals (which attract higher ratio of our target segment per month) we distribute free CD’s containing product details, usage instructions, testimonial by a known personality who is a user of the product and other generic baby care as well as mother care tips such as how to massage your baby, proper nutrition for the mother as well as proper nutrition for the baby etc. Step 3 – Hire the Direct Marketing Agency who will find out who the concerned person is at the hospital (Purchase manager, pediatrician, nursing director etc.) as well as pitch them for a DM program and maintain long term relations. Step 4 – Feedback and Monitoring of the DM Activity Distribution at Retail Outlets – Step 1 – Hire the agent or agents who will be acting as Area Sales Managers Step 2 – Outline their work i.e. identifying which retail store to target such as – ? Custom Baby Care Stores eg. Mothercare ? Departmental Store with Baby Section ? Super Markets and Malls which have a Baby Care Section and attract our target segment The ASM’s will also be responsible for pitching the above retail stores to stock Baby Bell as well as maintain inventory levels. Step 3 – Feedback and Monitoring of the distribution activity
Positioning
To the parent who has a new born baby to be taken care of¸ Baby Bell is the easiest way to know when the baby is uneasy and needs attention because the product is easy to use, is assembled under stringent test conditions and allows a parent to keep track of the baby without being by its side continuously. Explanation of Positioning Criteria Target market: The target market would consist of working parents who need to take care of their new born baby. Essentially, the parent should not be too far off from the baby as the product will have its own range of operation. Parents who have an office at home or nearby can be targeted. Even housewives who need to be in the kitchen at times are possible targets for the product. Frame of reference: Baby Bell will help in keeping track of the baby. Being an innovative product, at the introductory stage in the Technology Adoption Life Cycle the competition is not very intense. The existing competitors are electronics companies such as Philips and Sony as well as Baby Product Companies such as Fisher Price. Point Of Differentiation: Baby Bell is the easiest way to know when the baby is uneasy and needs attention. Being a new product, it is in itself a never before solution to keep track of the requirements of the baby without disturbing the work schedule too much. Reasons To Believe Claim: The product is easy to use, is assembled under stringent test conditions. The best quality components are sourced from China and assembled in the plant near Mumbai. Also, the testimonials by famous mothers will give the customers reasons to believe in the product.
doc_413316234.doc
Market Analysis Selling Objectives and Sales Charting document covers baby product like a monitor and analyses target, geography, demographics, marketing plan and positioning.
Product Identification and Market Analysis Selling Objectives and Sales Charting
Product Identification Product - Baby Monitor
Brand Name – Baby Bell Company Name – Baby Bell Private Limited
Logo Price – Rs.1200 to Rs.1500 Product Information A baby monitor, actually a radio transmitter, allows you to keep tabs on your little one without standing vigil outside your child's door. These compact two-part gadgets — a transmitter and receiver — are particularly useful when your infant is still young enough so that his waking in the middle of the night means he needs you to feed, change, or comfort him. During the day, a monitor also allows you enormous freedom during nap time, no matter what your baby's age. Typically, you place the transmitter within 10 feet of your baby's crib so that it picks up any sounds — such as his moving and crying — once you turn it on. Then you can carry the receiver around the house with you or leave it plugged in by your bed. Most monitors can also run off batteries. Newer models allow your baby to hear your soothing voice, or enable you to see him with a camera.
Market Analysis
Rough overview of Population Statistics* –
Babies Born Annually 27,408,000
Urban Births 6,029,760
Rural Births 21,378,240
65% Institutional Deliveries 3,919,344
35% At Home Deliveries 2,110,416
43%Births in Pvt. Inst. 2,592,797
22% Births in Public Inst. 1,326,547
*Based on data made available on request from the government of India. Source – National Family Health Survey (NFHS – 2 and NFHS – 3), District Level Household Survey and Facility Survey from the year 2000 to 2005. We have begun with the overall landscaping of the market that we are looking at i.e. the total number of babies born in India annually. Out of the babies born we will be targeting SEC AB (reasoning explained in detail later) which will fall in the category of Births in Private Institutions.
Target Market
We will be targeting the parents of the babies belonging to the SEC A and B category. The general break up for SEC categories is as follows – A – 9% B-17% C-21% D-23% E-30%
Thus, out of the total number of babies born in the country we will be targeting only 26% who fall into our target market.
Geographic Locations
We will be marketing and selling Baby Bell Monitor across 6 top tier cities of India which are – ? Mumbai ? Delhi ? Kolkata ? Bangalore ? Hyderabad ? Ahmedabad The selection of cities has been made based on the standard of living and fertility rate. We will be beginning our venture with the initial launch of the product in Mumbai.
Demographics
Baby Monitor demographic profile is as follows – Target Audience – Mother as well as Father Age Applicability – From 0 to 9 months Income – SEC A and B Category
Life Stages – Married with new born, Single parent, working parent, parent with first child, parent with second or third child
Reasons for Targeting
Reasons for targeting mothers as well as fathers – ? Ratio of working mothers in India is on the rise due to which fathers have to share the baby care duties ? Even in case of housewives they have their daily routine to go about during which it would be beneficial for them to use a Baby Bell monitor ? Fathers are the fund providers or the final authority who okays the product in traditional Indian families General reasons – ? Today the house help in the form of maids for baby care is becoming more and more expensive as well as scarce to find. ? The number of nuclear families in India is on the rise, thus no longer are the extended family members living with the parents to help out during the birth of a new baby. Reasons for targeting SEC A and B? The price of our product might be too steep for other socio economic class categories to purchase. Especially since the product is in its nascent introductory stage parents would view this expenditure as an extra cost of baby care. At the same time we are not restricting ourselves to only the SEC A category because it has been observed in case of baby products that parents are less price sensitive. Thus, SEC B has been included as a probable target segment.
Marketing Plan
Phase 1 – Launch of Baby Bell Monitor in Mumbai Phase 2 – Launch of Baby Bell Monitor in the cities of Kolkata, Bangalore, Ahmedabad, Hyderabad and Delhi The marketing of Baby Bell would entail two major strategiesDirect Marketing of Baby Bell using a local Direct Marketing Agency Distribution of Baby Bell Monitor to retailers using company dealers Direct Marketing Strategy (An example of the city of Mumbai) – Step 1 – Identify the places for the conducting the DM activity. We have identified private hospitals and maternity homes as a touch point where parents can be targeted at the POME (Point of Market Entry) i.e. when the baby is born. We have neglected the public hospitals deliberately as they do not attract our target audience and are grossly mismanaged. We have tried to find out the number of babies born in the hospitals of Mumbai to gauge our sales plan.
14000 12000 10000 8000 6000 4000 2000 0
>13000
7200 2400 200 0 Private Nursing Homes 3600 0 Private Hospitals 0 0 Public Hospitals & Nursing Homes
Seg 1
Seg 2
Seg 3
Seg 1 = Where it is profitable to target as well as easy to secure permission for DM Activity Seg 2 = Where it is not economical to target (too few babies per month) as well as difficult to secure permission for DM activity Seg 3 = Not to be targeted Thus, we are looking at approximately 800 deliveries per month and 10,000 babies annually if we target all private hospitals and nursing homes which deliver at least 20 babies per month falling in Segment 1 or Top Tier category. Step 2 – Develop the Pamphlets, CD’s and other promotional materials. We propose the use of Pamphlets with attractive baby visuals with the relevant product information, availability, use as well as price. Moreover we recommend that in addition to the pamphlets in the top tier hospitals (which attract higher ratio of our target segment per month) we distribute free CD’s containing product details, usage instructions, testimonial by a known personality who is a user of the product and other generic baby care as well as mother care tips such as how to massage your baby, proper nutrition for the mother as well as proper nutrition for the baby etc. Step 3 – Hire the Direct Marketing Agency who will find out who the concerned person is at the hospital (Purchase manager, pediatrician, nursing director etc.) as well as pitch them for a DM program and maintain long term relations. Step 4 – Feedback and Monitoring of the DM Activity Distribution at Retail Outlets – Step 1 – Hire the agent or agents who will be acting as Area Sales Managers Step 2 – Outline their work i.e. identifying which retail store to target such as – ? Custom Baby Care Stores eg. Mothercare ? Departmental Store with Baby Section ? Super Markets and Malls which have a Baby Care Section and attract our target segment The ASM’s will also be responsible for pitching the above retail stores to stock Baby Bell as well as maintain inventory levels. Step 3 – Feedback and Monitoring of the distribution activity
Positioning
To the parent who has a new born baby to be taken care of¸ Baby Bell is the easiest way to know when the baby is uneasy and needs attention because the product is easy to use, is assembled under stringent test conditions and allows a parent to keep track of the baby without being by its side continuously. Explanation of Positioning Criteria Target market: The target market would consist of working parents who need to take care of their new born baby. Essentially, the parent should not be too far off from the baby as the product will have its own range of operation. Parents who have an office at home or nearby can be targeted. Even housewives who need to be in the kitchen at times are possible targets for the product. Frame of reference: Baby Bell will help in keeping track of the baby. Being an innovative product, at the introductory stage in the Technology Adoption Life Cycle the competition is not very intense. The existing competitors are electronics companies such as Philips and Sony as well as Baby Product Companies such as Fisher Price. Point Of Differentiation: Baby Bell is the easiest way to know when the baby is uneasy and needs attention. Being a new product, it is in itself a never before solution to keep track of the requirements of the baby without disturbing the work schedule too much. Reasons To Believe Claim: The product is easy to use, is assembled under stringent test conditions. The best quality components are sourced from China and assembled in the plant near Mumbai. Also, the testimonials by famous mothers will give the customers reasons to believe in the product.
doc_413316234.doc