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Principles of Marketing

Instructor: Zakia Binte Jamal


Course: MKT 302; Section : 3

REPORT on a concept product (Cicret bracelet)


Submmitted by: Blue eyes
MD. Mahabur
1. 1420743
Rahman
2. MD. Kamrul Hasan 1420943
3. Nafisa Ibrahim 1421421
4. MD.Saifullah sakin 1310984
5. Sk Tanvir Hossain 1420015
Mahmudul Hasan
6. 1330374
Prince
3.LETER OF TRANSMITTAL

AUGUST 5th, 2015


Page | 2
Miss Zakia Binte Jamal
Lecturer
School of Business
Independent University, Bangladesh
Subject: Submission of the marketing report on a concept product.

Dear Miss,

It is an enormous pleasure to submit the marketing report on a concept product


named CICRET BRACELET in Bangladesh. It was a great opportunity to work
on such a project which helped us to to make different marketing plans and
evaluating consumers recognition.
We tried our level best to arrange this marketing report to the requisite standard
even facing few obstacles while collecting data information. We all thoroughly
enjoyed and efficiently put all efforts to successfully complete the strategy.
Throughout the whole planning we gained immense knowledge and experience
which would enhance our career development.
Therefore, we request fervently to accept our marketing report and enlighten us
with your valuable suggestions. We sincerely thank you for giving us the
opportunity and support. We would be glad to answer any queries that you may
have in this regard.
4. Acknowledgement
We, the group members of group 6 in MKT 320 course sincerely thankful to all
those people who have been giving us any kind of assistance to work on this
report. Page | 3

We express our gratitude to our honorable faculty Zakia Binte Jamal miss, who
has through her vast experience and knowledge has been able to guide us to
accomplish this report. She gave us the golden opportunity to do this wonderful
report on the topic which also helped us in doing a lot of analysis and we came to
know about so many new things.

We are making this report not only for marks but to also increase our knowledge.
Thanks again to all who helped us.
Agreement:
We both the parties are agreed to the terms and conditions of marketing policy.
By taking all logical legal steps we are in a way to collaborate the business.
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Terms and Conditions:
Pricing of the product should be determine according to the company
CN2P SAS.
At the time of product marketing all plans regarding marketing works will
be in a valid form.
No third party can commence with the new marketing ideas
All activities from both the parties will be done legally.
On the particular product selling strategy Blue eyes will get 20% profit.
All provisional works should be in a year based form.
All works will be done by informing both the parties.
Blue eyes can make change according to their wish in plan if needed.
By the consent of Bangladesh rules of constitution system we both the parties
have agreed to continue this business for 5 years.
Blue eyes CN2P SAS
Marketing agency Business company
CONTENTS
NO CONTENTS PAGE NO
3 Introduction 06
4 Needs and Corresponding Features/Benefits 07
Page | 5
of CICRET BRACELET
5 SWOT analysis 08
6 Product offer 10
7 Marketing strategy 11
7,1 Objective of the Study 11
7.2 Target audiences 12
7.3 Positioning 14
7,4 Strategies 16
7.5 Marketing mix 17
7.6 Marketing research 22
8 Sales strategies about the new Product: 23
9 Promotion strategy 16
10 Campaign policy 18
11 Financials 19
12 Controls 19
12.1 Control body 19
12.2 Implementation 20
12.3 evaluation 21
13 Conclusion 21
14 Reference 23
3.Introduction

The cicret bracelet is a concept product thought by four guys from France run by
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CN2P SAS. The viewpoint of this product is a kind of new invention. Now a days
due to advance technology people are in a great want of exclusive products. So
this product can be a want of different people. Cicret product can be a great
competitor for new digital products. It is a great enhancement for both
economical and social viewpoint.

We are mainly targeting the young generation for this product as they use more
technologies now a days. Besides these businessmen, entrepreneurs, industrialist
can also take it as their want in regular life.

What is a Cicret bracelet:


A secret bracelet is a kind of a
product which can project a
touchscreen onto arm and
makes it possible to access
easily and turn apps work
without having to take out the
device. With this product one can make their skin new touch screen.
Reading mails, playing favorite games, answering phone calls, checking
weather, finding ways etc can be a regular works done by cicret product.
Who are the founders of Cicret bracelet:
A four man team from France has come up with the idea for a bracelet
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which can be used to turn the users arm into a smartphone screen.
Guillaume pommier incharge of concept and marketing and finance
relations, Fabien Noblet incharge of technology and market, Pascal
Pommier incharge of technology software and strategy and Nicolus
Cruchon in charge of design and web marketing.

Guillaume Pommier Fabien Noblet

Nicolas Cruchon Pascal Pommier


2. Needs and Corresponding Features/Benefits of
CICRET BRACELET

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After goggle glasses, Android gear, Apple watch, if you find these devise
extremely large to operate your smartphone. Here comes this Cicret Bracelet,
which uses your arm as the screen and it carries all the mobile operation on your
arm .You can play games, chat, send emails you can do all the stuff with the
cicret bracelet. This is just a bracelet which is connected to your smartphone and
make your skin the new touch screen. This is like a gadget from a science fiction
movie or a cartoon kind of stuff.

3. SWOT Analysis

Cicret bracelet has several powerful strengths on which to build, but our major
weakness is lack of brand awareness and image. The major opportunity is
demand for new our invention. And we also face the threat of ever higher
competition and downward pricing pressure.

Strengths:
1. Unique in market as it doesn't exist in the world yet.
2. It will help to keep an eye on mobile even from far.
3. The product is very handy.
4. Comes with beautiful design and colors and also with custom designs.
5. Large number of interested people.
6. Reasonable for our targeted market.
Weakness:
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1. Since the product is new people have less idea about the product.
2. Expensive marketing campaign.
3. Inexperienced operational system.
4. Lack of brand awareness: Feedback of consumers: people usually termed it
as fake due to lack of campaign.
5. Camera: no camera

Opportunities:
1. No competitors.
2. Any other company cannot come forward with a selling viewpoint of this
product.
3. Price can be increased or decreased by our will since the market is
Competitive.
4. When the user gets to know its great features it will soon be a necessity to
consumers.
5. Increasing demand:
6. Uniqueness:

Threats:
1. Product duplication might occur.
2. Since we are a new company people might not believe in our products.
3. Entrance of foreign product.
4. Product Offering:
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Cicret Bracelet offers the following standard features:
Accelerometer: To measure proper acceleration (G-FORCE)
Memory card+ Ram: For storage, it will be available in 32 and 64 GB
versions.
Processor: SOC processor
Vibrator-For vibration gestures
Micro USB port-For direct
transfer of your files
Proximity sensor-Quantity of 8
to acquire coordinates of your
touch
Pico Projector- TO project the
smartphone Screen on your
arm.
Bluetooth- For file Transfer
WI-Fi- It can Gain access to Wi-
Fi.
LED- For on and off indication.
And also available in 10 different
colors.
5. Market Strategy

5.1 Objective of the Study Page | 11

The broad objectives of this study are to find out major marketing strategies and
prospects of Cicret Bracelet as well as find out the suggestion for effective
marketing plan. Our objective is aiming 5% share of the estimated volume for
smart technology in Bangladesh through unit sales volume of 100,000. Our
Second year objective is to achieve the break even on the Cicret Bracelet &
Launch our Second Model.

The specific objectives of this study are given below:

1. To identify the present marketing strategies of Cicret Bracelet.


2. To analysis the opinion of the participants involving operates marketing
function of this kind of Bracelet.
3. SWOT analysis and future prospects of Cicret Bracelet.

5.2 Who are the target audiences:


Our target customers both Male and female aged 20-55. Our primary consumer
target For the Cicret Bracelet is Middle to Upper income professionals who need
one fully loaded device to coordinate their busy schedules, stay in touch with
family and colleagues and be entertained on the go. Our Secondary target
consumer is college and graduate Students Who want a stylist Device. We aimed
a teenager group and twenty some-things who want a Stylist device with lots of
feature and support both android and this device to easier to use.
The primary business target for the Cicret Bracelet is mid to large size
corporations to help their managers and employees stay in touch and input or
access critical data when needed. Our Secondary target is entrepreneurs and
small business owners. Also we will target medical groups and celebrities. Short
lists for usable activities are given below:

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Target audience Customer need Benefits
Students Playing games, map Students can play
through this cicret
bracelet or they can find
out their way.
Businessmen Answering calls, In business organization
Checking weathers, people should have
Checking emails. device for making their
works easy. It can be a
right hand to them.
General people For making themselves There are some person
look stylish who gives more priority
to stylish things rather
than workable things.
This can be a part of it.
High budget Due to unique device Doctors, Engineers,
professionals Celebrities high ranking
professionals can also use
it as their own work.

5.3 Positioning
Using product differentiation, we are positioning the Cicret Bracelet as the most
versatile, convenient, value-added model for personal and professional use. Our
marketing will focus on the value-priced multiple communication, entertainmet,
and information capabilities differentiating the Cicret Bracelet.
Attributes Percentage
Versatility 85%
Convenience 55%
Value added process 70%
multiple communication 0% Page | 13

Entertainment 60%
Capability 88%
Durability 70%
Flexibility 90%
Designing 90%

5.4 Strategies:
The Cicret Bracelet are going to be very different when it comes to marketing.
The idea is that the most important information is delivered to consumers front
and center. When people wont be able to carry mobile phones with them, the
smart Bracelet will help them.
We and our team have a simple mission to find out what people think of
technology, if the response is positive then we will increase our production.

Product: The Cicret bracelet, which uses arm as the screen and it carries all the
mobile operator on arm. Including play games, chat send emails and any other
stuff with the Cicret Bracelet. Cucret Bracelet including all the features described
will be sold with one year warranty. It will introduce the Cicret Bracelet 2016.
After established our brand, the brand and logo will be displayed on our product
and packaging as well as in all marketing campaigns.
Pricing: Cicret Bracelet will be introduced at a consumer price of 25000taka per
unit. This price confirmed according to the process of cicret bracelet and by
taking the actual usage capacity of consumers viewpoint.
Distribution: Our channel strategy is to use selective distribution, through
marketing the durable shelves of well-known retail chain, consumer durable
chain store, electronic product retailers and prominent online retailers. During
the first year we will add channel partners until we have coverage in all major
markets. We will provide demonstration product, detail specification handouts,
and full-color photos and displays featuring the product.
Marketing communications: By integrating all messages in all media, we will
reinforce the brand name and the main points of product differentiation. Page | 14
Research about consumption patterns will help our advertising agency choose
appropriate media and timing to reach prospects before and during product
introduction. Therefore, advertising will appear on a pulsing basis to maintain
brand awareness and communicate various differentiation messages.to generate
buzz, we will host a user generated video contest on our web site.to attract,
retain and motivate channel partners for a push strategy, we will use trade sales
promotions and personal selling. Until the Cicret Bracelet brand has been
established, our communication will encourage purchases through channel
partners rather than from our web site.

5.5 Marketing mix:


The Cicret bracelet will be introduced in June. Here are summaries of action
programs we will use during the first six month to achieve our stated objectives.
July: we will launch 10 million trade sales promotion campaigns and
participate in major industry trade shows to educate dealers and generate
channel support for the product launch in August. Also we will create buzz
by providing sample to product reviewers, opinion leaders, influential
bloggers and celebrities. Some trained staff will work with retail sales
personnel at major chains to explain the Bracelets features, benefits and
advantages.
August: we will start an integrated print/TV/internet campaign targeting
professionals and consumers. The campaign will show how many function
the Cicret Bracelet can perform.
September: as the multimedia advertising campaign continues, we will add
consumer sales promotions such as a contest in which consumers post
videos to our Web site, showing how they use the Bracelet in creative and
unusual ways. We will also distribute new point of purchase displays to
support our retailers.
October: we will organize a trade sales contest offering prizes for
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salesperson and retail organization that sells the most Cicret Bracelet
during a month period.
November: plan to roll a new national advertising campaign this month.
The ads on TV channels with celebrity they will tell the Bracelet performs
function such as chat, sending e-mail, playing games and so on.
December: the TVC campaign will add a new tagline promoting the Cicret
Bracelet, a smart phone gift to celebrate success.

5.6 Marketing Research:


By researching Cicret Bracelet we will identify the products benefits and specific
features and target market segments value. We will take feedback from survey
and market test. We are also measuring and analyzing customers attitudes
toward competing brands and product. The brand research will help to determine
efficiency and effectiveness of our messages and media. Finally, we will use
customer satisfaction studies to measure market reaction.

6. Sales strategies about the new Product:


To increase our sales we have to show consumers some unique informations so
that they are influenced to purchase more of our product. We will have to make
them aware about some dangers of the situation and show them the real value of
this product.

7.Promotion strategies
Product promotion is one of the necessities for getting our brand in front of the
public and attracting new customers. There are numerous ways to promote a
product or service. Some companies use more than one method, while others
may use different methods for different marketing purposes.
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i. Social Media:
Its no secret that social media are also the biggest consumers of any
product. We believe that the social media consumption could increase.
Social media websites such as Facebook and Google+ offer companies a
way to promote products and services in a more relaxed environment. This
is direct marketing at its best. Social networks connect with a world of
potential customers that can view your company from a different
perspective. Rather than seeing our company as "trying to sell" something,
the social network can see a company that is in touch with people on a
more personal level. This can help lessen the divide between the company
and the buyer, which in turn presents a more appealing and familiar image
of the company.

ii. Contests:
Contests are a frequently used promotional strategy. Many contests don't
even require a purchase. The idea is to promote our brand and put our logo
and name in front of the public rather than make money through a hard-
sell campaign. People like to win prizes. Sponsoring contests can bring
attention to your product without company overtness.
iii. Mail Order Marketing:
Customers who come into your business are not to be overlooked. These
customers have already decided to purchase our product. What can be
helpful is getting personal information from these customers. Offer a free
product or service in exchange for the information. These are customers
who are already familiar with your company and represent the target
audience you want to market your new products to.
iv. Point-of-Sale Promotion and End-Cap Marketing:
Point-of-sale and end-cap marketing are ways of selling product and
promoting items in stores. The idea behind this promotional strategy is
convenience and impulse. The end cap, which sits at the end of aisles in
grocery stores, features products a store wants to promote or move
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quickly. This product is positioned so it is easily accessible to the customer.
Point-of-sale is a way to promote new products or products a store needs
to move. These items are placed near the checkout in the store and are
often purchased by consumers on impulse as they wait to be checked out.
v. Customer Referral Incentive Program:
The customer referral incentive program is a way to encourage current
customers to refer new customers to your store. Free products, big
discounts and cash rewards are some of the incentives you can use. This is
a promotional strategy that leverages your customer base as a sales force.

vi. Branded Promotional Gifts:


Giving away functional branded gifts can be a more effective promotional
move than handing out simple business cards. Put our business card on a
magnet, ink pen or key chain. These are gifts you can give your customers
that they may use, which keep your business in plain sight rather than in
the trash or in a drawer with other business cards the customer may not
look at.

vii. After-Sale Customer Surveys:


Contacting customers by telephone or through the mail after a sale is a
promotional strategy that puts the importance of customer satisfaction
first while leaving the door open for a promotional opportunity. Skilled
salespeople make survey calls to customers to gather information that can
later be used for marketing by asking questions relating to the way the
customers feel about the products and services purchased. This serves the
dual purpose of promoting your company as one that cares what the
customer thinks and one that is always striving to provide the best service
and product and of course, we will continue to Campaigns that involves
young students to participate in the work. We will make the work fun
experiencing so they talk about it to other people we know. Campaigns will
be held in Concerts, events, schools, Supermalls etc. Soon the name of
UTP will spread fast.

Page | 18

8. Campaign policy:

Social media
Outside campaign
TVC
Others

This product will help people for getting digitalized and work with a
pace. It will increase the communication enhancement thus will make
it worth. Due to its cheap price and new coming device it can easily
grab consumers attention. It has also different colours which can
provide a classy look.

9. Financials:
Price Collaborat Targe 1st Month( 1st Total Profit
ing t sell selling year(selling selling (Yearly)
price(Selli (per price) price) produc Page | 19

ng price day) t in 1
per unit) year

20,00 25,000TK 4 unit =26,00,000 =312,00,00 =1248 =62,00,000


0.00T TK (4 unit* 0TK( 104 p (3,12,00,000-
K 26 day* unit* 12 249,60,000)
25,000 tk) month*
25000)

10. Controls:
Controls are being established to cover implementation and the
organization of our marketing activities.The whole process go through
a regular phonetic activities. Mainly some specific person controls the
procedure.

10.1: Control Bodies:


Control committee composed by:
- Marketing manager
- R&D manager
- Production manager
- Finance manager/ Accountant
Marketing manager mainly works
for making marketing policy, R&D manager works for
handling currnt situation, innovative and initial
managing customers, measuring management
success Page | 20

Control Comittee

Production manager works for Finance manager works for taking


handling the situation regarding care of all accounts and make new
internal works order of financing

10.2: MARKETING IMPLEMENTATION:


Marketing Organization: Our product (Cicret Bracelet) require extensive
customization to match Customer needs, it is necessary to organize the
marketing function by customer groups. This will allow to focus its marketing
efforts exclusively on the needs and specifications of each target customer
segment. Stars marketing efforts will be organized around the following
customer groups: (1) students; (2) Businessman (3) General people and (4)
high budget professionals group. Each group will be headed by a sales
manager who will report to the marketing director (these positions must be
created). Each group is responsible for the marketing of Cicret bracelets
products within that customer segment. In addition, each group will have full
decision-making authority. This represents a shift from the current highly
centralized management hierarchy. Frontline salespeople will be empowered
to make decisions that will better satisfy Cicret bracelet customers. These
changes in marketing organization will enable Cicret bracelet Software to be
more creative and flexible in meeting customers needs. Likewise, these
changes will overcome the current lack of diversification in its product lines
and customer base. Finally, this new marketing organization will give a better
opportunity to monitor the activities of competitors.

Activities, Responsibility, and Timetables for Completion:


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All implementation activities are to begin at the start of the next fiscal year
on June 1. Unless specified, all activities are the responsibility of cicret
bracelet Softwares President Pascal Pommier. Cicret is in the process of
raising funds for the further development and production of the Bracelet,
but Pommier says he expects the device to reach the mass market within a
year and a half. The device could cost up to $400, he says, based on what
the company's research suggests people would be willing to pay (sounds
like a hard sell to us).

Cicret co-founder Guillaume Pommier tells Gizmag that the first prototype is due
for completion in about three weeks time.

10.3: EVALUATION AND CONTROL:

Performance Standards and Financial Controls:


A comparison of the financial expenditures with the plan goals will be
included in the project report. The following performance standards and
financial controls are suggested:
The total budget for the billing analysis, new-product research, and the
customer survey will be equal to 60 percent of the annual promotional
budget for the coming year.
The breakdown of the budget within the project will be a 20 percent
allocation to the billing cycle study, a 30 percent allocation to the customer
survey and marketing information system development, and a 50 percent
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allocation to new-business development and new-product
implementation.
Each project team is responsible for reporting all financial expenditures,
including Personnel salaries and direct expenses, for their segment of the
project. A Standardized reporting form will be developed and provided by
the marketing Director.

Conclusion
We have required agreement and necessary documents for marketing cicret
bracelet. We have commenced almost every legal outmost work in order to
assure product legacy.
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References:
http://cicret.com/wordpress/
http://www.gizmag.com/cicret-bracelet/35109/
http://www.gadjetgeek.com/cicret-bracelet-your-arm-as-display/
http://www.gadjetgeek.com/cicret-bracelet-your-arm-as-display/