Marketing plan template. Let’s simplify this.
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Ok, so you’re tasked with building a Marketing Plan and have no idea where to start? No problem. Let’s use this template to get you started! The following Marketing Plan uses a fictional company in an easy to follow format! May your day be easy from here!
Phoenix HomeAR Inc. Marketing Plan
I. EXECUTIVE SUMMARY
Phoenix Home AR (Augmented Reality) Inc. is a veteran owned and operated technology company out of Silicon Valley, California. Phoenix HomeAR is run by tech savvy entrepreneurs specializing in creative innovation and distinguished through mobile application awards and citations from Apple and Google along with a multitude of certifications from various technology giants. Phoenix HomeAR puts the power of Augmented Reality in the hands of anyone that owns a Smartphone - be it Apple or Android. Phoenix HomeAR combines the power of Augmented Reality with proprietary software built in house that allows the user to get a 3-Dimensional blueprint behind sheetrock and concrete structures for the average to experienced homeowner. Gone are the days of drilling through water pipes and drainage pipes to keep up with the ever-growing strength of the Do It Yourselfers and onto the safety and well-being of understanding where the electrical wires lie in your walls. Phoenix HomeAR is coming off of a pivot from Augmented Reality spectating for E-Sports due to an immature market with a focus on the same proprietary technology to fill a hole in the water. This technology in house does not exist in the market and is a bridge in the technological innovation gap. This propitiatory technology can be applied to many different aspects in the industry and does not stop here. This technology is in its youth and can make air highways visible, expose underlayment in the streets for state workers along with showing the inside of large equipment’s without ever removing a screw. Phoenix HomeAr’s employees comprise of a small but highly efficient team of six that are devoted to building Phoenix HomeAR until it becomes highly successful. Challenges that currently face the team are around hours and availability due to the low balance of funds in the company account. Employees are picking up outside work and enrolled in continued education to keep their financials in check for better focus on Phoenix HomeAR. This derails efficiency slightly until the next seed round is reached where focus can be redirected. Promotion is also affected as funds run low and the ability to properly market and hit the necessary channels for user engagement. The main focus of this marketing plan is to increase investor excitement, prototype and build top of the line software that drives up investment, loosens the sideload on the team as well as gain the loyalty of smartphone users globally.
II. ENVIRONMENTAL ANALYSIS
Phoenix HomeAR is built on top of veterans that are used to difficult situations that mimic startups. Since we are a startup, we have the drive and know how to conquer any situation. Augmented Reality is in its youth which is a massive win for Phoenix HomeAR. New technology lessens the competitive landscape and opens up the door for the up and coming being the first to deliver. The teams experience with Virtual Reality prior to the introduction of Augmented Reality gives the company a leg up along with the passion and desire for technology and success. The Current CEO, Chris Stakes (34) has been starting businesses from the age of 16 with the sale of Christmas trees on the corner of his parents’ house. Since then Chris Stakes has developed critical Computer Science Skills, earned an MBA, MS in Computer Science and has been mentoring at two of the three top incubators, YC 500 and TechStars. Chris Stakes will lead as CEO until a suitable candidate can fill his place in the company when he begins his retirement.
A. The Marketing Environment
1. Competitive Forces. No secret with the release of Apple and Googles Standard Development Kits (SDK’s) for developers to start experimenting with Augmented Reality that the competition in the market is going to quickly accelerate. Modern technology and new experimental technology are on every startup to gain an edge on the competition. Known and understood competition is limited due to the youth of the technology but expected to increase rapidly in the forecasted 2 to 3 years. Articles, columnists, Forbes Magazine and other well-known sources are quoting the release and the excitement it brings to users on a global scale. The global scale is large and can be aggregated by the number of mobile users that have instant access to Augmented Reality platforms on a global scale with the number of smartphone users in the billions who will have instant access to any Augmented Reality platforms placed on the market according to (Smith, Craig 2019).
2. Economic Forces. The need for developers in the augmented reality space is limited as developers are in high demand especially with specific niche skills. The introduction of the General Data Protection Regulation (GDPR) has set strict and stringent rules to database security with recent introduction into the United States as initial conception and ruling took place in Europe.
3. Political Forces. Government intervention in the unlawful use of Augmented Reality has companies building with caution as a breach of security protocol can be detrimental. Air Space violations have been increasing and highly watched since man flown drones have been turning up security due to privacy invasion at various airports across the United States.
4. Legal and Regulatory Forces. As technology grows and the number of mobile users increases, black hat incidents to include unlawfully breaking into databases and leaking classified information has been on the rise. Database security now requires heavy investment and man hours to ensure proper security protocols are put in place to prevent penetration along with constant analysis through the applications life cycle.
5. Legal and Regulatory Forces. Mobile smartphones are facing increasing competition through the use of larger devices that are incompatible with Augmented Reality.
6. Sociocultural Forces. As generation Z comes into the consumer market born on top of technology and the smartphone, Phoenix HomeAR is able to build to their understood nature and accepted technology infrastructure. Phoenix HomeAR will coincide with the popular social platforms on the market with similar structures to increase familiarity and ergonomics with all users.
B. Target Markets
Phoenix HomeAR has a duty and responsibility to its users to ensure seamless integration into their daily lives. Cutting into walls, hanging photos, remodeling and home repairs comes with its risks. The proprietary technology is tried and trusted with 100% accuracy to not give false positives and accurately portray and show what is behind the walls. Dedication to the well-being and safety of our users is our mission and we hold that to a Veterans promise. Users of our software will span a broad range of demographics from the professional remodeler and interior designer to the Do it Yourselfer that wants to tackle some at home projects. Safety is paramount and the Phoenix HomeAR software understands the importance of 100% accuracy and will never sacrifice. Phoenix HomeAR has linked up with commercial builders and construction agencies to put the product to the test. 1000’s of house of testing live in the field have been conducted with the necessary bug fixes and repairs as necessary. No matter the age, no matter the experience, the simple user experience is sure to ensure anyone with the device is safe and protected.
C. Current Marketing Objectives and Performance
Phoenix HomeAR is dedicated to customer service, speed, reliability and most of all safety. Since the Phoenix HomeAR application requires the use of WIFI, the technology is designed to be as minimally impacted as possible. The applications are fast, responsiveness, ergonomically friendly and affordable given the uniqueness. Current marketing plans take use of various platforms to include commercial businesses and industries, government contracts and work of mouth, social platforms, digital platforms and on a minimal basis. Due to funding, marketing and advertising has not been able to perform at the optimum tempo as desires. Phoenix HomeAR is cautious and intelligent with investors funds and the amount spent. Nothing on leisure, all on technology has left a solid product and a company with little debt.
III. SWOT ANALYSIS
A. Strengths
1. Phoenix HomeAR is built on new technology that has been recently been made public for developer use from Apple and Google. We at Phoenix are expecting the introduction and with vast experience in closely related technologies such as Virtual Reality, we have a strong leg up on the competition.
2. Phoenix HomeAR’s team is small, educated, experienced and hand selected among a vast pool to find the ultimate employees for this agile run company to ensure vision alignment and to ensure innovation is at the forefront.
3. Phoenix HomeAR’s past employee record of Military service contributes to its dedication and unwavering persistence to succeed and build technology that will one day be the basis from home repair to exposing what we cannot see with the human eye in the real world.
4. Startups fail and it is no surprise the amount of stress and competition they offer. Having a leg up in the startup world is difficult to come by which is one avenue we have covered. Our CEO mentors at two of the biggest start up incubators internationally and domestically which gives us a strong advantage to see what the best and brightest are up to. Scanning and understand the competitive landscape is a key factor that Phoenix HomeAR is very keen to.
B. Weaknesses
1. Phoenix HomeAR is currently running low on company funds. Angel investment, seed rounds and friends and family funds have built the pre pivot company and has allotted the technology to become the proprietary software it is today. Raising funds on the team’s part is a weakness since the focus is dedicated to the product. Plans for investor excitement, working demos and investor contact lists are currently in the works.
2. Due to the low funds, efficiency on the product has slowed down. Employees are getting side jobs and working where they can until the next seed round hits.
3. Public speaking is a team’s weakness aside from the CEO and training needs to be integrated into the work rhythm. Meeting avoidance and Public Relations is suffering which is in heavy need of remedy.
4. Grasping the market and the demographic and segmentation needs to be handled externally. The development team understand the importance of a strong marketing campaign and his little knowledge on how to setup and implement properly.
5. Consumers are confused and unaware of the difference between Augmented Reality and Virtual Reality have to offer. Lack of consumer awareness drives the need for strong campaigning and user engagement on our part to increase retention, drive daily active users and overall drive loyalty.
C. Opportunities
1. Unlike traditional product development, the need for a brick and mortar store to move our applications is negligible. The product moves from our computers to Apple’s App Store and Googles Play Store in a matter of minutes. From here, billions of users have instant access to the application. Updates, bug fixes and anything related to product changes can be updated in the same manner. This is a massive win as it reduces overall costs and could not be more efficient.
2. Technology has made its debut and ideas have been made, distributed and repeated countless amounts of times. New technology is rare, and up and coming technology seems far off. The introduction of developer access to Augmented Reality with the team’s background and experience is just what tech is in demand for. There is a need for a bridge to expose the invisibles, and our team has figure out the necessary algorithms to bring that idea to fruition.
3. The General Data Protection Regulation has many development companies spending countless dollars securing their database. With our technology, the need for a backend is minimal as we only store user E-Mails and Passwords. Nothing personal is stored on our databases which removes the risk of security breaches as discussed in our Terms and Conditions. This saves us countless dollars and removes the risk of being shut down for unsafe practice and user violations policies.
D. Threats
1. Moving into 2020, developers are the normal and talent is booming. Tech schools are popping up worldwide with the introduction of coding bootcamps empowering our youth, and our working class with the power to drive innovation. With the growing amount of developers, development on Phoenix HomeAR’s side needs to be fast, efficient with minimal discrepancies. Competition is increasing rapidly in comparison with historical reference.
2. Government policy can interdict when our technology incorporates the ability to see throughout more than just sheetrock and concrete. The ability to see through homes into houses, state and government buildings can cause some roadblocks for development.
3. Phoenix HomeAR runs the risk of not getting further funding which will diminish productivity and throw up a barrier for proper marketing and advertising for the necessary exposure to inform the public and create a reputable brand.
4. Cyber-attacks, black hatters, unlawful penetrators are all possible issues that we may face as a company based off of technology. Strong attacks, the stealing of company information and code can lead to destruction of the company.
E. Matching Strengths to Opportunities/Converting Weaknesses and Threats
1.Taking our experience with Augmented Reality and combining that with an era of Augmented Reality and the importance it will place on every day activities is Phoenix HomeAR will excel in the development and further research into the full capabilities that can be unraveled.
2. The team’s education and experience are able to remove the threat of the GDPR, store data in minimal packets and remove any unwanted government interdiction.
3. Through constant self-betterment and in-house training, Phoenix HomeAR is better able to improve public speaking and continue to practice self-improvement for a more developed team.
4. Funds are low and nothing drives progress more than the fear of loss and disappointment. Extra stress to raise money can be used to convert into office athletes and move focus onto where the fears lie and get the needed investments.
5. As time passes, users will understand Augmented Reality and be able to distinctly tell between Virtual Reality and Augmented Reality. This will help remove us from the Virtual Reality minimizing the confusion allowing the consumer to consider Phoenix HomeAR as an upcoming innovative company.
6. New skillsets and developers are sprigging up left and right in the world of development. With this boom, our team is able to bring on highly skilled developers to help improve the current platform. A bigger pool of potential candidates allows Phoenix HomeAR to be more selective in hiring the opportune candidate.
7. Government attention to Phoenix HomeAR’s platform may bring on new business as well as a government contract. Governments hire startups often to perform and fill in gaps in their needs to run the country. This could pose new opportunities and open new avenues for the company to excel in. Also, governmental exposure opens the door to Department of Defense contracts which would align perfectly with our technology as well as our employee staff.
IV. MARKETING OBJECTIVES
Phoenix HomeAR understand the market and needs to implement a strong fund-raising strategy. Lack of funds are the number one roadblock that is currently being experience from the company. It increases unwanted bad stress, limits productivity and cuts down heavily on our ability to market. Connectivity in the investor world rules king. Over the next year, Phoenix HomeAR will make contact with a total of 110 investors setting a goal of 2x per week. With this objective, monthly progress reports and emails will be sent out informing the potential investors of our progress, future projections as well as limiting factors. This will help build relationships, establish connections and increase the likelihood of an investment and possible seed round. Phoenix HomeAR will also set an objective to increase Public relations and increase public awareness through online writing mediums, radio stations, news articles and any affordable option that could promote exposure. An increase in sustainability efforts will help increase public awareness and increases the chances of getting an article written on the company and the importance of Augmented Reality by a trusted and valued source. Development has been at the top of the importance list from the inception of the pivot. The team is setting objectives to focus on bringing in funds and increasing the top and bottom line. Since the company is in its minimum viable product state, the applications have a good amount of room to be spread loaded throughout all demographics. This will allow feedback to filter in and an analytical analysis with the introduction of posttests covering all aspects to get Phoenix HomeAr’s target market pinpointed.
V. MARKETING STRATEGIES
A. Target Market(s)
Target Market 1: Department of Defense contracts from our employee staffs experience validates that need for Phoenix HomeAr’s proprietary technology for their mechanics and bomb recognition needs.
Example: Delta Company, USMC is conducting patrolling operations in Helmand Provence Afghanistan. They approach a disturbance in the earth and approach with ease. Instead of combing the surface lightly and sweeping with metal detectors, a simple smartphone scan can give a 3-Dimensional Graphical representation and alert the troops if it is indeed a threat. This technique will save lives if acquired.
Target Market 2: State and Town workers spend a large part of their time marking underground structures, laying pipes, digging pipes up, marking residential underlayment and power along with fiber optic cables that are laid by cellular companies. These markers are often in the form of flags that are uprooted and blown away by rain and wind.
Example: State and Town workers are able to easily reset their flags and spray paint markers by aiming the smartphone at the terrain and getting a visual 3-Dimensional representation allowing them to accurately remark the ground terrain. This saves valuable time for the state and town allowing their focus to be used in more important aspects like safety and traffic.
Target Market 3: Individual Do It Yourselfers and homeowners have made a strong need in the Market to tackle tasks themselves that companies such as Loews and Home Depot have had great success towards. The aim for the application will be to market directly to their smartphones as their first thought when tackling any sort of home improvement project that involves walls. This would include and not limited to drywall, sheetrock, flooring, wood up to 2 inches thick as well as PVC transparency.
Example: Cindy would like to hang a photo collage of her family’s tree line going back 100 years. Cindy knows that she will be drilling into walls possibly risking hitting a water pipe costing thousands in damages or even worse and possibly deadly, electrical. Cindy can remove all safety concerns by scanning the wall with the Phoenix HomeAR application and hanging those photos with confidence.
B. Marketing Mix
1. Products. Phoenix HomeAR has built and tested proprietary software that does not exist on the market and that is ahead of its time. The ability to see through walls was once thought of as science fiction. With the introduction of advanced smartphones paired with augmenting our current reality by superimposing images in the real world, Phoenix HomeAR was able to achieve just that. Make the impossible possible and removing all competition by having the only product with such capabilities on a smart phone. Our product is a unique niche. Our platform is evolving and Phoenix HomeAR has been experimenting with light manipulation from the smartphones camera to build ultra-real 3-Dimensional Holograms that can be portrayed in real time. Pair the technology with a passion for dedication with a veteran’s persistence to success, future competitors will have their hands full.
2. Price. Phoenix HomeAR is in non-price competition since our product is one of a kind, unique and in a niche. Competition will find it difficult if not impossible to keep up with our quality of design and code base powering the efficiency and accuracy of the platform. With this in mind and the consumer first, our prices are affordable and keep in line with the expected application costs that are commonly found on Apples App Store and Googles Play Store.
3. Place. Phoenix HomeAR is able to easily distribute the application to Apples App Store and Googles Play Store. From here, users simply search for the name Phoenix HomeAR and can download the application instantly. A key take away here is how users can download the application. Applications over 150mb require WIFI to download from Apple which means a user most likely needs to be in their home assuming they have WIFI. At Phoenix HomeAR we ensure our application stays under the maximum 150 MB marker to ensure we do not lose potential customers and users due to WIFI blockers. We are able to keep the application low by distributing large portions of our codebase in the backend through safe avenues protected and warranted by the General Data Protection Regulation agency.
4. Promotion. Phoenix HomeAR expects the application to be of regular use after the initial download and integration of our application into the real world. Consumers understand the value and are deeply satisfied with the technology. Promotion will lay in the acquisition of new users to increase top line revenue and adjust our marketing campaign according to posttests analysis.
VI. MARKETING IMPLEMENTATION
A. Marketing Organization
Due to the unique use of our product due to the carrying target markets from the homeowner to the industrial giant, our marketing campaign will be divided and segmented into dedicated groups with a dedicated team attached to ensure success and proficiency. The groups will be segmented into Industrials, Government and Homeowners. Each group will have a marketing lead who will analyze, scan, research, collect and aggregate data accordingly to understand their segment. From here, the team will develop the most efficient and accurate targeting method to increase the chances of success for the campaign. The team’s structure will be collaborative with a team driven mentality. Diverse teams yield results with proper innovative freedom. These additions to our focus on marketing will attack our target markets efficiently.
B. Activities, Responsibilities, and Timetables for Completion
CEO Chris Stakes will be heading and authorizing all activities listed below. All activities will commence on January 1st, 2020 with a reflected timeline of 11 months.
· On January 1st, candidate screening will commence to fill the teams around the 3 categories, Industrials, Government and Homeowners. Leadership once hired will oversee the remaining hires.
· By March 1st, candidates will be hired as full-time employees and have concluded their company training.
· By May 1st, each new team will have finalized their analysis of their accompanying segmented category.
· By July 1st, each team will engage their marketing plan and begin signing contracts as necessary.
· By August 1st, each team will fully analyze the effectiveness campaign with posttest and introduce changes as necessary.
· By September 1st, each team will introduce their changes and shift their focus to customer satisfaction with the product and ease of use.
· By October 1st, each team will report back to the development side and present their findings. From here, data will be aggregated, and the changes will be decided upon.
· By November 1st, each team will come together and discuss the importance of their category and introduce new possible categories that can be introduced.
· By December 1st, the previous 8 months will be analyzed with revisions, changes and modifications for constant improvement in the marketing and customer satisfaction cycle.
VII. PERFORMANCE EVALUATION
A. Performance Standards and Financial Controls
At Phoenix HomeAR, we understand the importance of proper demographic analysis. Data aggregation from surveys, organized technology avenues, work of mouth and the need to be heavy analyzed and evaluated before any methodology is introduced. With this, 60% of the allotted budget will be aimed at mastering the market. With this solid foundation, the marketing plan will get off to a better start initially increasing the overall success while mitigating any unnecessary losses from poor analyzation. Posttest on marketing will be conducted and 10% of our marketing budget will be dedicated to fixing any discrepancies in our methods. Once a baseline is understood, changes and tweaks will be made to ensure alignment with the vision and preset goals during the planning process. The initial segmented categories Industrials, Government and Homeowners will work independently but share findings for data aggregation. The remaining 30% will be aimed at carrying out the well-tuned plans.
B. Performance Standards and Financial Controls
Posttests are they key attribute that will compare the initial marketing objectives to the end state realistic findings and performance. This will be the key factor in all decision making. Just as Phoenix HomeAR dedicates a majority of their budget towards the initial data aggregation on the demographics, the posttests are taken just as seriously. Penetrating the correct channels is imperative to yield successful results. The overall goal is to maximize efficiency on the current allotted budget while minimizing wasted time and efforts. Analytic reviews and implemented controls under the guidance of CEO Chris Stakes along with the freedom of innovation within all teams is the internal answer to yield external proficiency. Controls are the groundwork for all Phoenix HomeAR’s activities, modifications, implementations and overall decisions.
Conclusion
That’s it, phew that was easy. Ok, now go change some words and let’s call it a day! Want more? No problem — hit that clap button and I’m all over it!
