the party tub
Post on 03-Feb-2016
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The Party TubThe Party Tub
A Marketing PlanA Marketing Plan
Brian SchaferBrian SchaferChris RathbunChris RathbunAaron BrooksAaron Brooks
IntroductionIntroduction Our product: a high-end Our product: a high-end
luxury spaluxury spa Designed to accommodate 4 Designed to accommodate 4
to 6 people to 6 people Built with the highest quality Built with the highest quality
materials materials Includes:Includes:
Fully adjustable jetsFully adjustable jets Underwater lightingUnderwater lighting Integrated sound system Integrated sound system Flat screen waterproof TV and Flat screen waterproof TV and
DVD playerDVD player
IntroductionIntroduction Product allows Product allows
consumer to create consumer to create their own little their own little haven - watch a haven - watch a movie, listen to movie, listen to music or even play music or even play a video game. a video game.
Goal - pure Goal - pure relaxation in a relaxation in a luxurious and luxurious and entertaining settingentertaining setting
SWOT AnalysisSWOT Analysis
Strengths Strengths Ability to outsource workAbility to outsource work UniqueUniqueTop QualityTop Quality
Weaknesses Weaknesses High initial costsHigh initial costsHigh personnel costsHigh personnel costsLack of reputation initially Lack of reputation initially
OpportunitiesOpportunities Almost untouched segment of Almost untouched segment of marketmarketJoint ventures with designers, Joint ventures with designers, lowering marketing costslowering marketing costsSegments are geographically Segments are geographically centeredcentered
Threats Threats Sensitive to economySensitive to economyObsolete technologyObsolete technologySmall target segmentSmall target segment
Internal EnvironmentInternal Environment Ability to outsource Ability to outsource
workwork High quality productHigh quality product Strong connections Strong connections
with contractors and with contractors and celebrity figurescelebrity figures
Strong network of Strong network of sales agents and sales agents and distributorsdistributors
Well developed Well developed construction planconstruction plan
External EnvironmentExternal Environment Target industryTarget industry
Small and elite groups of consumersSmall and elite groups of consumers Residing in clusters around major cities Residing in clusters around major cities Focus on quality, brand and status then a price figureFocus on quality, brand and status then a price figure
Our focus will be more on the image of the Our focus will be more on the image of the product product Attempt to convince consumers that we can provide Attempt to convince consumers that we can provide
what they want (Quality, Style, Status)what they want (Quality, Style, Status) Small marketSmall market Fairly high level of competition in the beginningFairly high level of competition in the beginning Competition will level off after timeCompetition will level off after time
Will work to maintain our image and product qualityWill work to maintain our image and product quality
External EnvironmentExternal Environment Unique position – product not offered by a competitorUnique position – product not offered by a competitor Will create personal relationships with designers and Will create personal relationships with designers and
decoratorsdecorators Must integrate our product in advertisingMust integrate our product in advertising
Hollywood / Entertainment IndustryHollywood / Entertainment Industry Outsourcing components of our productOutsourcing components of our product
Lessens our materials and storage costLessens our materials and storage cost Opens opportunities to use joint venture advertisingOpens opportunities to use joint venture advertising
• Such companies as Such companies as SonySony or or PanasonicPanasonic for AV components for AV components• Allows people to see our brand in conjunction with those who are Allows people to see our brand in conjunction with those who are
already in the top of their field, will boost perception of our productalready in the top of their field, will boost perception of our product Able to focus more on the whole experienceAble to focus more on the whole experience Focus upon support, individual personal touch and Focus upon support, individual personal touch and
quality quality Will gain entrance into this elite industry and be Will gain entrance into this elite industry and be
successfulsuccessful
Value Proposition Value Proposition
Through quality, service, Through quality, service, luxury and technology we will luxury and technology we will offer a total experience to our offer a total experience to our customers by being unique, customers by being unique, personal and creating an personal and creating an individual haven away from individual haven away from the tiresome world.the tiresome world.
Market SegmentationMarket Segmentation This spa qualifies itself as a high-end consumer product – luxury This spa qualifies itself as a high-end consumer product – luxury
itemitem Must compete with other high-end spasMust compete with other high-end spas Targeted towards baby boomers with a high income Targeted towards baby boomers with a high income
At least $100,000 annuallyAt least $100,000 annually PRIZM clustersPRIZM clusters
Urban Gold CoastUrban Gold Coast• Elite urban singles and include ages from 45-64Elite urban singles and include ages from 45-64
Young LiteratiYoung Literati• Upscale urban singles and couples with professional occupations ranging in Upscale urban singles and couples with professional occupations ranging in
age from 25-44age from 25-44 Executive SuitesExecutive Suites
• Between the ages of 45-64 and most belong to a health club. Between the ages of 45-64 and most belong to a health club. Geographics - upscale citiesGeographics - upscale cities
Marina Del Rey, CAMarina Del Rey, CA Blackhawk, CABlackhawk, CA Laguna Beach, CALaguna Beach, CA
Market SegmentationMarket Segmentation Targeted advertising - publicationsTargeted advertising - publications Examples of magazinesExamples of magazines
EntrepreneurEntrepreneur GQGQ SelfSelf
Targeted advertising - health spasTargeted advertising - health spas Higher income individuals targeted through channels Higher income individuals targeted through channels
that directly affect themthat directly affect them Primary focus upon consumer incomePrimary focus upon consumer income
Higher income individuals will be the ones who can Higher income individuals will be the ones who can afford this luxury item. afford this luxury item.
The secondary segment focus is ageThe secondary segment focus is age Baby boomer generation Baby boomer generation
• More disposable incomeMore disposable income
Marketing StrategyMarketing Strategy Spa positions itself with its high priceSpa positions itself with its high price The “spa of all spas”The “spa of all spas” This fully loaded spa can be used as a status symbol, This fully loaded spa can be used as a status symbol,
one who can afford this spa is well to do above the restone who can afford this spa is well to do above the rest
Understanding the other brands in this same marketUnderstanding the other brands in this same market Jacuzzi Jacuzzi
• Known brandKnown brand• Long historyLong history• Respect for the brandRespect for the brand• Brand shortcomings (closest spa holds only 2 people)Brand shortcomings (closest spa holds only 2 people)
Our product differs from Jacuzzi Our product differs from Jacuzzi Offer similar idea of a spa but seating for up to 4 to 6 peopleOffer similar idea of a spa but seating for up to 4 to 6 people Cup-holders and several audio/video hookupsCup-holders and several audio/video hookups Designer colors for customizationDesigner colors for customization
Product StrategyProduct Strategy
Most deluxe and Most deluxe and customized spa customized spa available available
Highest quality Highest quality parts, materials, parts, materials, and warranty and warranty
Support optionsSupport options
Product StrategyProduct Strategy
DVD SystemDVD System
Flat screen televisionFlat screen television
Floating remote controlFloating remote control
Built-in CD/AM/FM stereoBuilt-in CD/AM/FM stereo
Surround sound systemSurround sound system
All electronic items All electronic items are waterproofed are waterproofed
for safety and for safety and durabilitydurability
Product StrategyProduct Strategy
Energy-efficient, self-draining, insulated pumpsEnergy-efficient, self-draining, insulated pumps
Slip-resistant bottomSlip-resistant bottom
6 Fully adjustable jets6 Fully adjustable jetsUnderwater lightingUnderwater lighting
Product StrategyProduct Strategy•Ergonomic Loungers - Webbed Seating feature
•Enables therapeutic jets to massage all parts of the body
•Allows for more comfort when relaxing in the spa
•Adjustable jets hit all areas of body to maximize comfort •Patent pending
Product StrategyProduct Strategy
• FREE professional installation and onsite service
• 3 year onsite warranty
• Parts / labor / travel, included
Pricing StrategyPricing Strategy Unique product in marketplace Unique product in marketplace ““Skimming” - entry pricing strategySkimming” - entry pricing strategy
Allows us to recoup R&D costs quickly Allows us to recoup R&D costs quickly Takes advantage of originalityTakes advantage of originality
4-6 person Hot Tub4-6 person Hot Tub Equipped with a top of the line waterproof flat screen TV/DVD player Equipped with a top of the line waterproof flat screen TV/DVD player
with surround soundwith surround sound Designed and developed especially for the rich and famousDesigned and developed especially for the rich and famous
Starting price ranges $35,000 – $40,000 retailStarting price ranges $35,000 – $40,000 retail Selling to retailers/wholesalers for around $25,000. Selling to retailers/wholesalers for around $25,000. After initial run on the market, price will lower as competitors enterAfter initial run on the market, price will lower as competitors enter May be able to later offer a more affordable rateMay be able to later offer a more affordable rate
Would help to expand target marketWould help to expand target market Price leadershipPrice leadership
Forced the competitors to follow our lead on priceForced the competitors to follow our lead on price Recouped our R&D costs.Recouped our R&D costs.
Promotional StrategyPromotional Strategy Luxury item, afforded by the wealthy Luxury item, afforded by the wealthy Promoted by providing a sample model to lifestyle shows Promoted by providing a sample model to lifestyle shows
such as “MTV Cribs” and other “hip reality” shows such as “MTV Cribs” and other “hip reality” shows Wealthy clients aware of the productWealthy clients aware of the product
Possible trials/demonstrationsPossible trials/demonstrations Discounted products sold to hotels and resorts – ability to Discounted products sold to hotels and resorts – ability to
purchase or request more informationpurchase or request more information Magazines and publications Magazines and publications
Communicate the symbolism behind having our hot tub Communicate the symbolism behind having our hot tub Hollywood style partiesHollywood style parties Rich and famousRich and famous CelebritiesCelebrities
Trade showsTrade shows Demonstrate and showcase product to home builders, Demonstrate and showcase product to home builders,
designers, and decoratorsdesigners, and decorators
Promotional StrategyPromotional Strategy Celebrity testimonials/ Marketing PeopleCelebrity testimonials/ Marketing People
"My favorite thing after a NBA play-off game or the Olympics or just a real tough training session is to get into my spa, close my eyes, and rest and recover and let my body heal up for my next day of training. These spas are truly the Ultimate Relaxation Machine. Not only do they let you relax, but these spa’s can really entertain your friends.”
Michael JordanSix-time NBA champion (‘91-’93, 96-98); NBA MVP (‘88, '91, '92, '96, '98); 10-time All-NBA First Team (‘87-93, ‘96-’98); Defensive Player of the Year (’88); Nine-time All-Defensive First Team (‘88-93, ‘96-’98); Rookie of the Year (‘85); 14-time All-Star; All-Star MVP (‘88, '96, '98); One of 50 Greatest Players in NBA History (‘96); Two-time Olympic gold medalist (‘84, '92).
Distribution StrategyDistribution Strategy Our showroomsOur showrooms
Usage demonstrationsUsage demonstrations Free trialsFree trials
Showrooms of distributors around the country Showrooms of distributors around the country TradeshowsTradeshows Make contact with distributors, contractors, Make contact with distributors, contractors,
designers, decoratorsdesigners, decorators See product used on TV showsSee product used on TV shows Website/internet advertisingWebsite/internet advertising
Website to “request more information”Website to “request more information” Find a distributor in the local areaFind a distributor in the local area
Distribution StrategyDistribution Strategy Web site allows the customer to customize the colors Web site allows the customer to customize the colors
and some of the features onlineand some of the features online Virtual modelVirtual model
Possible AdvertisingPossible Advertising
Possible AdvertisingPossible Advertising
Possible AdvertisingPossible Advertising
Possible AdvertisingPossible Advertising
ConclusionConclusion
Thank you!Thank you!
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