BUSI265 FA17 Marketing Plan - AirSelfie

MARKETING PLAN – AIRSELFIETM

PRESENTED BY: CRYSTAL LEE

SHREYA LUNAWAT

CHI HANG WONG

DESIGNED AND EDITED BY: CHI HANG WONG

Aerial View Sky [Digital image]. (n.d.). Retrieved September 26, 2017, from http://freehdw.com/wallpaper/clouds-skyscapes-aerial-photography-pictures-hd-144509.html

CONTENTS 01

PRODUCT

02

THE 5 C’S SITUATION ANALYSIS

03

TARGET MARKET, POSITIONING, UNIQUE SELLING PROPOSITION

04

THE MARKETING MIX AND 4 P’S STRATEGY

4

A I R S E L F I E TM

PRODUCT: FEATURES 5 Micro Brushless Motors 1 Anodized Aluminum Case 6 4GB Micro SD Memory Card 2 Self-Generated Wi-Fi

7 Built-in Battery 3 5MP Camera

8 Light as Air – 61gms 4 Sophisticated Sensors

5

A I R S E L F I E TM

PRODUCT: HOW IT WORKS 1

2

3

4

6

A I R S E L F I E TM

COLLABORATORS

INTERNATIONAL TEAM

Small team consists of: • • • •

Developers Engineers Designers Corporate leaders

MANUFACTURER

•

Reliable and trusted manufacturers in Mainland China

SOCIAL MEDIA PARTNERS

RETAILERS

•

Local retail partners for distribution in Hong Kong to establish networks

• • • •

Apple Fortress Log-on Eslite Bookstore

•

Local social media agency for strategic advertising and monitoring

•

Local social media influencers to increase brand awareness

7

A I R S E L F I E TM

COMPETITORS DIRECT

SUBSTITUTE

INDIRECT

Selfly Camera Drone

Aerix Vidius HD Drone

Hover Camera Passport

Mpow iSnap X Selfie Stick

Selfies in groups / with view

Photography, Videography

Photography, Videography

Selfies in groups / with view

8 MP, 1080/30 pixels

420-720 pixels

13 MP, 4208/2120 pixels

/

20 selfie photo flight maneuvers

5-7 minute

8-10 minute

/

70 gms

28 gms

242 gms

Approx. 140 gms

0.9cm x 6.6cm x 13.1cm

4.3cm x 4.3cm x 2.5cm

3.3cm x 18.2cm x 13.2cm

/

Compatibility

All 4-6 inch mobile phones

Android, Apple device

iPhone models, iPad models

Depends on phone

Indoor Usage

Yes

No

No

Yes

Autonomous

Yes

No

Yes

Yes

Portability

95%

65%

70%

75%

Primary Use Camera Quality Flight Time Weight Size

8

A I R S E L F I E TM

CONTEXT: PEST ANALYSIS POLITICAL

ECONOMICAL

P •

FFA regulations

•

HKCAD rules and regulations, no need to register as it is designed for personal use

•

Increase in privacy and safety concerns

SOCI AL-C ULTUR AL

E •

• •

User-friendly (controlled by a free, intuitive iOS and android app)

TECHNOLOGICAL

S •

T

Social media use (invention involves and requires filming of people or surroundings)

•

Intersection of technology and culture

•

Stability of the camera

Great for both outdoor and indoor use

•

Makes our lives a lot more efficient

•

Lead to a new way of many activities

Job creation and economic growth

•

Decrease the chances of accident

•

Competition in R&D

9

A I R S E L F I E TM

CIVIL AVIATION DEPARTMENT: GOVERNMENT OF HKSAR ALTITUDE OF OPERATIONS • Shall not exceed 300 feet above ground level 300 feet = 91.44 meters = AirSelfie 20 meters

HEAVY MODEL AIRCRAFT • Weighing more than 7kg are not allowed to fly in Hong Kong 7 kg = 7000 grams = AirSelfie 61 grams

OTHER NOTICES • Away from airport or aircraft take-off and landing paths •

Source: HKCAD. 2017

Join a model flying club or get help from an experienced model aircraft operator

10

A I R S E L F I E TM

TARGET MARKET TECH-SAVVY ENTHUSIASTS

CONTENT CREATORS

• • •

Age: 25-45 Status: Single, married Gender: Male

• • •

Age: 16 or above Status: Single Gender: Both

• • •

Age: 21 or above Status: Single Gender: Female

•

Benefit companies and small businesses

• • • •

Early adopters Digitally savvy Greatest user Family oriented, flexible schedule

• • •

Full time student Self employed Contribute social content

• • • •

Late majority Impulse spending Vacation often Value experience: creating, sharing and capturing

• • •

Late adopters Good budget Invest in technology to assist their job

SOCI ALI TES

PROFESSIONALS

11

A I R S E L F I E TM

PERCEPTUAL MAP: BRAND POSITIONING AMATEUR / PERSONAL

SELFIEEFFECTIVE

SEFLIEINEFFECTIVE

PROFESSIONAL / BUSINESS

12

A I R S E L F I E TM

PERCEPTUAL MAP: PRODUCT ATTRIBUTES USER-FRIENDLY

LEAST SAFE

SAFEST

COMPLICATED

A I R S E L F I E TM

POSITIONING STATEMENT

To young and bold consumers who crave innovation with practicality in the world of technology, AirSelfie is the only company among all portable drones that offers the most distinctive ‘groupfie and share’ experience because it empowers you to express your passion, personality and your story, all captured from the air.

13

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A I R S E L F I E TM

MARKETING MIX – PLACE APPLE

FORTRESS

•

6 stores

•

20 stores

•

12 stores

•

1 store

•

Upper middle income professionals, high school, college and graduate students

•

Upper middle class millennials and tourists

•

Style-conscious millennials

•

Rising middle class millennials and tourists

•

Home and kitchen appliances, electronics in communication, entertainment, health and beauty

•

Lifestyle, trendy products in stationery, tech gadgets, fashion, travel accessories, beauty and wellness

•

Lifestyle products from books, stationery to a range of high quality products in tech, beauty and food

•

Apple products, accessories, applications and entertainment

LOG-ON

ESLITE BOOKSTORE

A I R S E L F I E TM

MARKETING MIX – PRICE

Source: Business Insider, 2017

15

A I R S E L F I E TM

MARKETING MIX – PRICE

16

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MARKETING MIX – PRICE Type of Sales

• All costs, expenses, revenues taken into account

• Cost-based pricing • Fixed Costs • Social media manager – HK$96,000 for first year • Promotion through influencers – HK$72,000 for the first 6 months

• 60% indirect sales • 40% direct sales

40% Direct Sales 60% Indirect Sales

18

A I R S E L F I E TM

MARKETING MIX – PRICE Total Revenue (HKD) for 4 years:

Revenue

1st Year

2nd Year

3rd Year

4th Year

($2,650 * 200 units) + ($700 * 200 units) =

($2,650 * 150 units) + ($700 * 150 units) =

($2,650 * 150 units) + (700 * 150 units) =

($2,650 * 80 units) + ($700 *80 units) =

$670,000

$502,500

$502,500

$268,000

Fixed and Variable Cost (HKD) for 4 years: Fixed Cost

1st Year

2nd Year

3rd Year

4th Year

$63,600 + $96,000

$110,000

$120,000

$130,000

$800

$800

$800

= $159,600 Variable Cost

$800

Breakeven for the number of units for 4 years: Breakeven (Units)

1st Year

2nd Year

3rd Year

4th Year

$159,600 / (2650-800)

110,000/ (2650-800)

120,000/ (2650-800)

130,000/ (2650-800)

= 86.27 = 87 units

= 59.46 = 60 units

= 64.86 = 65 units

= 70.27 = 71 units

A I R S E L F I E TM

MARKETING MIX – PROMOTION

Source: We Are Social; Global Web Index, 2017 and Boss Digital Asia; Social Media, 2017

19

20

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MARKETING MIX – PROMOTIONAL DESIGNS

GET A NEW PERSPECTIVE .

GET A NEW PERSPECTIVE .

21

A I R S E L F I E TM

MARKETING MIX – PROMOTIONAL DESIGNS

GET A NEW PERSPECTIVE Get your AirSelfie and show us your best groupfie.

#airselfie_HK #groupfie #photooftheday Sophisticated sensors In-flight stability systems – stable, clear and flowing photos and videos are guaranteed

Incredible dimensions Smallest and powerful, weigh 61 gram and hover up to 20 meters

App controlled Free app requires minimum, accessible for IOS and Android

For more details http://www.airselfie.com

22

A I R S E L F I E TM

MARKETING MIX – SOCIAL MEDIA INFLUENCERS JAN 2018 – 1,327,268

Queenie Chan 478,682

Jason Chau 818,586

APR 2018 – 657,815

Mira 492,781

Andy Kong and Albert Sung 65,034

FEB 2018 – 1,346,713

Hana Tam 1,191,876

Paul Wong 154,837

MAY 2018 – 528,122

Sarah Song and Jason Chan 286,980

Jade Lam and Brandy Lui 106,142

MAR 2018 – 309,682

Asha Cuthbert 181,913

Artem Ansheles 127,769

JUN 2018 – 896,738

Elva Ni 741,246

Aumun Yick 155,492

23

A I R S E L F I E TM

MARKETING MIX – PROMOTION SPORTS AND RECREATION

OUTDOOR FESTIVALS

#airselfie_HK

#groupfie

#photooftheday

EVENTS

24

REFERENCES AirSelfie. (n.d.). Retrieved November 05, 2017, from https://www.kickstarter.com/projects/1733117980/airselfie AirSelfie Launches Best Pocket-Sized Flying Camera for Smartphones. (2016, November 17). Retrieved November 06, 2017, from http://www.businesswire.com/news/home/20161117005614/en/ AirSelfie-Launches-Pocket-Sized-Flying-Camera-Smartphones Boss Digital Asia: Social Media. (n.d.). Retrieved October 26, 2017, from http://www.bossdigitalasia.com/service/social-media/ Easton, R. (2017, March 03). AirSelfie Review. Retrieved November 10, 2017, from http://www.trustedreviews.com/reviews/airselfie-review Ejinsight: Take a selfie? Why not, say 6 in 10 Hongkongers. (2014, September 01). Retrieved November 5, 2017, from http://www.ejinsight.com/20140901-take-a-selfie-why-not-say-6-in-10hongkongers/ Event Marketing: How to Successfully Promote an Event. (2016, August 18). Retrieved November 10, 2017, from https://www.brandwatch.com/blog/event-marketing-how-to-promote-an-event/ French, S. (2015, September 01). The Apple Store now sells drones. Retrieved November 10, 2017, from https://www.marketwatch.com/story/the-apple-store-now-sells-drones-2015-9-01 Get a New Perspective Official Website. (2016). Retrieved November 10, 2017, from http://www.airselfiecamera.com/ HKCAD. (2017, November 6). Civil Aviation Department (Hong Kong): Flying Model Aircraft. Retrieved October 25, 2017, from http://www.cad.gov.hk/english/model_aircraft.html InterNations - Cost of Living in Hong Kong. (2017). Retrieved November 10, 2017, from https://www.internations.org/hong-kong-expats/guide/15944-economy-finance/cost-of-living-in-hong-kong15936 Meola, A. (2017, July 13). Drone market shows positive outlook with strong industry growth and trends. Retrieved November 10, 2017, from http://www.businessinsider.com/drone-industry-analysismarket-trends-growth-forecasts-2017-7 Metro News UK. (2017, February 10). What is a socialite? A look into the world of the 'It Girl'. Retrieved November 05, 2017, from http://metro.co.uk/2017/02/10/what-is-a-socialite-a-look-into-theworld-of-the-it-girl-6440593/ Shearman, S. (2014, July 09). Rethinking retail: why brands are embracing the rise of the concept store. Retrieved November 10, 2017, from https://www.theguardian.com/media-network/medianetwork-blog/2014/jul/09/retail-brands-concept-store-shopping We Are Social; Global Web Index (n.d.). Penetration of leading social networks in Hong Kong as of 4th quarter 2016. In Statista - The Statistics Portal. Retrieved November 11, 2017, from https://0www.statista.com.library.scad.edu/statistics//412500/hk-social-network-penetration/.

What percentage of Hong Kong's population is technology savvy? (n.d.). Retrieved November 06, 2017, from https://www.enotes.com/homework-help/what-percentage-hong-kongs-populationtechnology-431781