Marketing Strategy Essay

Discuss the type of product the association lead offer and identify its primary characteristics The type of product the troupe will offer is a watchstrap called liveness Alert band. The characteristics of this device are size and the ease of use along with a lifetime guarantee. The action Alert band is light and portable that no one will even know its on his or her wrist. Its the size of a thick gumshoe band and comes in different wrist sizes. It has one easy to access button with an emergency icon that only needs to be pushed once to alert the life-time Alert call center in the event of an emergency.The novelty has several hidden sensors that monitor a persons pulse and blood sugar and wirelessly sends this information to the smell Alert monitoring centers. If a change is detected in any of the monitors the bracelets sends a signal to the centers for invest(prenominal) action. The liveliness Alert medical counselors immediately call the patient to see if they are ok. If n o response is received they dispatch emergency responders right away. The bracelets uses scare away memory to keep the device slim and flexible. It has a flexible band that can bend slightly.The material of the bracelet is a made of hard rubber that protects the electronics and its sensors. The bracelet requires a one-time setup much like a cell phone has to be programmed by Life Alert in order to contain communication is occurring with their monitoring centers. The device has wifi built in for local communication. Users who have a wireless network can browse directly to the bracelet using a web browser. This gives them access to all the information the bracelet is recording. Discuss the product brand strategyEntrepreneur magazine states that a branding strategy is how, what, where, when and to whom you plan on communicating and delivering on your brand messages. Where you advertise is part of your brand strategy (Enterpreneur, 2011). In this case a brand is bring in that consum ers associate with a device or value. Life Alert has many devices, all which bare its name on it. For example wireless companies such AT&T sell cell phones from different manufactures but all of them have the name AT&T on them and their logo. This goes for any large accompany that sells six-fold products even if the products are manufactured by another company.Another good example is Apple. Apple has mp3 players, desktops, laptops, and other computer peripherals, all have the Apple logo on them. Therefore, the branding approach for the Life Alert bracelet will be the umbrella branding approach. The umbrella approach will help Life Alert in promoting their popular name even further. In a survey taken by ACNielsen International Research, 87% of Life Alert members tell that Life Alerts protection is a main or important factor in their decision to keep living at home office rather than going to a retirement institution (lifealert911, 2011).Life Alert members on an average spend 6 m ore years living alone(predicate) because of their services. The bracelet will not only enhance their product line but attract more customers. The introduction of this bracelet will increase their customer base and maybe appeal to those who have a serious illness. The bracelet will become the main entity of the product line with Life Alerts name and logo. Discuss how the product fits within a product line and the depth and breadth of the line. Life Alerts bracelet is a quaint product that has carved a recessional in the medical devices industry.It fits into health care products that offer emergency services for monitoring and addressing health related issues. It addresses a void in the industry and aims to support independence in aged adults by providing state of the art monitoring and emergency services. The distinctive aspect of the Life Alert bracelet is that it is both broadens and intensifies in scope in terms of its breadth and depth. It fits well into the product line Lif e Alert offers. Its an accessory of the current product offerings. Some of the functionality the bracelet offers crosss over to other product categories.For example the bracelet now becomes competitive with blood glucose meters. Regardless, the bracelet extends the depth and breadth of the company. Explain how the product and target market strategies fit with the organizational strategy. The organizational strategy is based around a few separate factors. The companys business domain is clearly defined and is focused towards Mature 50+ adults who wish to live an independent lifestyle. The factors that are considered are chiefly geographical location, age, retirement lifestyle and medical needs.The strategy is effective as it concentrates on a few key product and ervices. Life alert employs niche marketing to devise a product strategy aimed at that targets mature 50+ adults residing mostly in Florida, which is a popular retirement destination, who are presently living a retired li festyle and desire a degree of independence and who may or may not have specific medical needs. The Life Alert bracelet fits into the organizational strategy for Life Alert. Introducing the bracelet will solidify the stance in the market. The organizational strategy for Life Alert is to be most innovative company in assisting the elderly.Life Alert can take advantage of its actual organizational strategy to support and market the bracelet. The company can further expand its diversified portfolio of services by using its existing infrastructure and the multifaceted use of its core resources. By including and expanding on existing product offerings the company can reduce cost and maximize return on resources. Life alert bracelet can utilize the infrastructure for Life Alert Necklace, security, monitoring and emergency response services with minor additions.All of these services employ the same core organizational set up, which is the monitoring center, which maximizes service offerin g with minimal investment. The marketing strategy includes Ads in local newspapers or niche publications, Opt-in web sites that make use of keywords to connect with potential customers, direct armor campaigns, as well publicity through Television developed for mature audiences. The bracelet can be incorporated under these existing marketing tools since its directed towards the same target audience.The ease of competitors entry into Life Alerts market segment is minimal as the company employs a remunerative business model where users pay an initial set-up charge for the ashess and the company generates revenues each month through subscription-based monitoring costs. The company also distributes medical alert system to more than 300 resellers and is one of the largest wholesale medical alarm distributors in the nation, with over 200,000 medical alert devices in service. The bracelet can be an addition to the existing portfolio and use the same monitoring system and distribution st rategies in use.The business strategy also supports innovation and product development and at present only a couple companies offer a medical alarm with two-way voice. With an additional service such as the bracelet the company will be a step ahead of its competitors and can utilize its R&D budget to support the new product. The companys ability to sew services and marketing different price points for packages will allow customers to use the bracelet with other Life Alert products and services. The new product aligns well with the companys organizational strategy and the same marketing strategy can be applied towards the Life Alert bracelet.