MARKETING

PLAN
EXECUTIVE SUMARRY
This report explains the marketing plan for a new product for our company WeInnovate which is
a LCD HD Car Dashboard Rear-view Mirror Camera.
This in-car accessory will provide a backup means to check for obstructions behind the vehicle
without giving you trouble to turn your neck every time you are stuck in traffic or parking.
Having the proper view will not only help you to drive well but also increase safety while
driving. This will also provide you facility to watch video on HD screen with the help of
pendrive or CD player in your car.
For preparing this report we have segmented the market on the basis of research done through
primary and secondary data. Primary survey focused on the analysis of demand for the product in
different cities divided on the basis of population, consumer liking and disliking, there awareness
on the product and also the willingness to spend on such product. Secondary data pertains to the
estimation of market potential.
We have also provided a brief overview of competitors offerings and there product and how our
product is having edge over them in same price segment. Based on our target segment we have
also found out our distribution channels.
Then through primary research data we have identified customer needs and awareness of product
through which we have selected our communication channels.

TABLE OF CONTENTS
1) Company Description
1.1) History
1.2) Organization and Products
2) Strategic Plan and Focus
2.1) Mission Statement
2.2) Goals and Objectives
2.3) Core Competencies
3) Situational Analysis
3.1) SWOT Analysis
3.2) Industry Analysis
3.3) Competitors Analysis
3.4) Customer Analysis
4) Marketing strategy
4.1) Objectives
4.2) Segmentation
4.3) Targeting and positioning
4.4) Marketing Mix
5) Financial data and Projections
5.1) Operating Expense
5.2) Gross profit per unit sold
5.3) Expected market share
5.4) Expected Net Revenue

Company Description

WeInnovate Pvt Ltd. provides clientele with expert installations of security, automation and
communication systems. We have been in the security business since 2010, and have designed
and installed cctv security systems, perimeter detection and access control systems utilizing the
latest and most innovative technologies.
WeInnovate Pvt Ltd. is a privately owned company with our head office located in Delhi, India.
It is your complete source for all your security needs. Our systems are manufactured conforming
to the most stringent quality standards and offer the highest levels of performance and
reliability and we are extremely proud of the reputation that our products have earned with
manufacturers, professional installers and individual users.
We are fully staffed, experienced and equipped to handle all phases of security, access control,
intrusion detection, and outside plant construction.
We can provide our customers with a full range of services from planning to construction to final
testing and activation. We keep a firm hand on innovation and new technologies, testing new
products constantly and bringing them to market when we are satisfied with quality, performance
and market need. We believe that being a front runner is important to us, our dealers and to their
end users.
Every system we provide is custom designed and engineered to meet your individual security
needs, regardless of the size of your business. We provide engineering, design, consultation and
specifications services through our sales, engineering and project management staff.
New product launch:
The systems product division of WeInnovate India is launching its latest range of Reversing,
Rear-view & CCTV systems for all vehicle applications as part of efforts to nearly double its
turnover to this fiscal. The camera system is complete with a crystal clear LCD Color monitor
with mirror image capability, CCD backup camera and all the wires, connectors and mounts you
will need.

Strategic Plan and Focus

Our Mission
To work continuously and make life of people better by inventing innovative products useful in
day to day lives.
Our Vision
Make lives comfortable with our innovation.
Our Goal
The goal of the company is to maximize the brand image of the products that we make, increase
market share and maximize profits.
Core Competencies
WeInnovate seeks to use its core competencies to achieve a sustainable competitive advantage, in
which competitors cannot provide the same value to consumers that WeInnovate does. Already,
WeInnovate has developed core competencies in:
(1) Offering a high-quality, branded products whose image is recognizable among consumers;
(2) Creating a sense of community among consumers who purchase the products;
(3) Developing a reputation among retailers as a reliable manufacturer, delivering the requested
number of products on schedule.

Situational Analysis
1.1)

SWOT Analysis

Strengths
1. HD quality LCD display.
2. Comfortable to use.
3. Ease in reversing.
4. Parking made easy.
5. Avoid Bumper to Bumper in traffic.

Weakness
1. Vision cannot be far.
2. Night Vision cannot be for long distances.
Opputunities
1. Though not new, the penetration for the producer is not much.
2. Market awareness is there so should market in proper channel and target the proper segment.
3. The amount of population interested in gadgets is owing among all ages of car users, this
makes the product attractive.
Threats
1. China products are available at low cost.
2. They come with many additional features.
3. Threat of Competitors, threat of new entrants is very high.

1.2)

Industry Analysis :

The auto accessories market big market with data showing 92% percent of consumers are
willing to buy auto accessories. With consumers holding their cars longer and disposable
income increasing, auto accessories are beginning to look like a prudent investment for car
owners. Awareness of in-car entertainment is growing among Indian consumers. Despite the
country having a healthy number of people indulging in in-car entertainment, awareness of
system prices, configuration and product variety was not very high. However, this trend is
changing in India. The availability of imported brands which are less expensive compared
with offerings from companies such as Sony, Pioneer and JVC has attracted consumers
towards in-car audio/video systems, speakers and navigation systems. This change in
consumer mindset resulted in higher sales of in-car products in 2011. This was further
accelerated by increased sales of cars in the country. With the availability of so many payment
structures such as instalments and car loans from banks to buy cars, car purchases in the
country increased considerably. This further fuelled sales of in-car accessories.

Competitors analysis:

Price
Features:
1 Touch screen

FAS-

Thunderworld

U1
6500

(Premium)
7500

2 GPS Navigation
3 Free 4GB MicroSD card

4 Better LCD visibility

Built in GPS antenna, GPS

5 high-sensitivity receiver

6 Free Servicing
7 Free delivery across India
Hands Free Bluetooth

8 speaker
9 Rear-View LCD monitor
10 MP3/MP4 player

Touch Screens (Low cost)

4000

Consumer Analysis:
Current and Potential Customers: The growth in Indian economy that has left customer with
higher disposal incomes has increased demand for bigger cars and SUVs. Our consumers include
people who are technology oriented and like inventions that make their lives safer, secure and
comfortable.
Trends in Consumer Buying Habits: It is easier and convenient than ever for consumers to get
their own custom car parts after buying the car, as many things in cars these days are
standardized and will fit in similar models.
Reasons for purchase of product or service: Safety reasons and to mitigate the problems that
come with living in highly populated cities with traffic problems.
Reasons for non-purchase of product or service: Do not care for safety and may be good drivers
with no problem in driving big cars.

Total number of customers

Already Installed

Interested

30%

29%

Customer not interested

Unaware Population

14% 27%

4) Marketing strategy
4.1) Objectives
Marketing Objectives

Achieve market share value of 5% by the year end

Attain customer sales of more than 2500 by the year end

Achieve a retail network of at least 45 stores per city targeted

Promotional Objectives

Increase brand awareness by 10% by the year end

4.2) Segmentation

Need based segmentation: The whole market is segmented into people who have a problem in
driving car in traffic and while parking.
Geographic Segmentation:
City: Tier-I cities (metro) which have a huge problem of traffic and low on parking space.
Demographic segmentation:
Age: People in age group of 25-50
Income : 10lakh 20lakhs
Pysychographic:
Lifestyle: Family-oriented, believe in using electronic gadgets to make their lives comfortable

Benefits sought: convenience, value safety

Types Of car (In Tier 1 cities)

Hatchback
Sedan

26%
52%

SUV

22%

4.3) Targeting
In this particular segment, we will target the customers who own sedans and are in
potential need of this product, which makes about 22% of the total cars in India. This
target is chosen on the lines that luxury cars and SUVs come with this accessory in-built,
and hatchbacks do not require this feature. This leaves out sedans which some drivers
find difficult to manage because of its rear and hence our product.
4.4) Positioning
Additional comfort in driving using advanced technology, wide angle field of view,
mirror image capability are our Points of Parity, automatic system switching, having
very clear night vision, HD display and customized product are our points of
differentiation. We also provide customization to the product by making weather
resistant cameras, cables, and connectors, automotive power source, audio monitoring,
wired and wireless products. Hence we would like to position ourselves as a niche
segment product.
4.5) Marketing Mix
Product: From our primary market research we have observed that the sedans owners in
Tier 1 cities face more of these problems in reversing, parking and especially when traffic
is bumper to bumper in peak hours. So in initial phase we would be launching the product
in these cities. We will recruit direct market facilitators to supply the products and
services in these regions.

Product and Promotion: We have planned to promote the product in these places by advertising
on bill boards near the petrol pumps, give advertisements twice in a month in gadget and car
magazines, have a stall in auto exhibitions conducted in these places, and thats how make
available for the people in rest of the places. Internet adds is another way in which we planned to
promote the product.
Product and Place: Since ours is a niche product we have planned to make the product available
only in Car Accessory show rooms, exclusive servicing centers, and also in car accessories
related websites like www.carstudio.com and www.carwale.com.
Product and Price: The Company has decided the price of the product as INR 6500. We
consider this price as reasonable because of the high range of customization, support service we
are offering.

5) Financial data and Projections

5.1) Operating Expense
Per Year Costs
Expense Distribution
Initial Expenses
Rs
Assembly Unit
500000 (Cost of assembly unit on the bases of Space used)
Equipment
1000000 (Initial Equipment Costs)
Fees
50000 (One time fees paid for new product)
Brand development and
Graphic design
Operating Expenses
Staff
Utilities
Interest

5000000 (Expenses on Existing Brand development and new product awareness)

500000 (Workers(12*5000*12)+Technicians(12*15000*2)+20000(other staff))

100000 (Utilities for Staff)
100000 (Interest on loan payments)

Potential Customer Base

Total cars in India
Total cars in Metros

50
10

Luxury Cars: 2 % of 10 million

0.2

Rest of the cars in metros

9.8

Sedan

22%

2.156

Already installed
Customer not interested(No issues

30%

0.6468

while driving)
Unaware population

15%

0.3234

32%

0.68992

Aware and interested

28%

0.60368

Total number of target Cars

1.2936**

**Growth in Cars in India is 10 % per year

Sales and Revenue
Market
Year

share

0
0.5
1
1.5
2
2.5
3

Profit
0.00
0
0.02 -647500
0.04 -310000
0.05
50500
0.07 385000
0.09 912500
117000
0.11

To make positive profit we have to gain atleast 5% market share.