Marketing Report1. INTRODUCTION 1.1 Company Profile Biometrics Securities is the one of the most trusted security provider in Pakistan. The company has strong financial background and has sizable infrastructure managed by professional staff. It has proven track record in this business and has plans for targeted prosperous growth in future. The management carried over major expansion and modernization of the unit over the years, and converted it into an integrated unit for the production of innovative security products. The company markets the products through its own distribution network. The company has currently 5 distributors all over Karachi and Islamabad and a fleet of delivery vehicles to cover its entire supplies. It has its own warehouses located in Karachi and Islamabad. They are proven leader in biometrics technology and had covered the huge market within few years. The products enjoy vast popularity and brand loyalties, and stand first in terms of market share in this sector nationwide. At the present time it’s a market leader in biometrics industry with a very good market share of 42%.With having a diverse portfolio of securities; Biometrics Securities has recently added three more branches to its production. These initiatives will not only fulfil consumers needs but also give them a broader range and variety to explore. Biometrics Securities has good market repute, due its good and consistent quality products. The logo of the company is “Lets Get Secured”. The marketing policy of the company envisages development of brand loyalties among the customers and consumers through their continued involvement and participation in series of several promotional activities run by professional staffs and consultants. The company has successfully obtained the ISO-9002 quality system certifications. “Biometrics Securities” is the first company to achieve such certifications in Pakistan within the Biometrics sector. 1 Biometrics Securities is the first company to receive such certification in Pakistan in the Biometrics sector. 2. At the present time it is the market share leader in the biometrics security industry. To strive for excellence and global recognition by continuous improvement. Market Leader Another major strength of Biometrics Securities is its share.Marketing Report 1.2 Vision Statement To be a market leader providing quality extruded snack products.2. diversity. 2 . availability.2 Mission & Vision Statement 1. Good Market Reputation: The Company has good market repute. quality. contributing towards the development of the national economy and assisting charitable causes. To ensure cost consciousness in decision making and operations without compromising the commitment to quality. To set up highly ethical business standards and be a good corporate citizen. SWOT ANALYSES 2. dedication and growth. To adopt appropriate safety rules and friendly environment policies. due to its good and consistent quality product. reliability and customer acceptance. 1. innovation.2. presentation.1 Mission Statement To be a result oriented and profitable Company by consistently improving market share.1 Strength ISO-9002 Certified The company has a well-defined quality policy and has successfully obtained the ISO9002 quality system certification in the year 2008. 2 Weaknesses Less Production Capacity: Biometrics Securities is not been able to fulfil the demands of the customers. Nation Wide Distribution: The Company has 5 distributors all over Karachi and Islamabad and a fleet of Hino and Mazda trucks to cover the entire supplies. Excellent marketing department assisted by a highly regarded marketing research unit. the reason being that they don’t have more capacity for production. Larger sales force Strong and long-term relationship with distributors. The difficulty of developing brand awareness as a start-up company. A lack of retailers who can work face-to-face with the customers to generate brand and product awareness.Marketing Report Quality Product: It is Biometrics Securities policy to provide good quality product to customers at reasonable prices. Software Application license and updates are quite expensive. Strong brand image and brand awareness in Pakistan. Motivated and committed employees.3 Opportunities Product Line Diversification: The company can increase its product line by adding more products to its product range 3 . Weak spending on R&D. car accessories providers and car dealers. 2. The reliance on outside capital necessary to grow the business. Availability of hardware resources. Familiar with psychographics and demographics of the local consumers. 2. Professional Management: A team of professional managers with the following practices performs the day to day administration of the company. This questionnaire was 4 . This would collectively place the entire organized biometrics business in a more favourable position. Increasing import duties since a lot of raw materials are imported would raise the price of its end products.1 Questionnaire A questionnaire comprising 20 questions was distributed among potential clients with the aim to assess customer needs and expectations about the product. Creating awareness of biometrics and its security. Details of the research plan are given below. 3. Biometrics Securities is competing with other security companies mainly due to price factor and quality standards these companies are giving high task to Biometrics Securities. RESEARCH PLAN 3. Threat from cheaper accessories smuggled into the country via border areas of NWFP and Baluchistan seriously affecting the earnings. 3.1. magazines.Marketing Report High rate of car selling growth. Competitors with different types of car remote systems. Import duty of hardware accessories should reduce from 45% to 25%.1 Research Approach To track the market value of our product we have developed a research plan based on a questionnaire and focused group analysis. Economic Recession: Even Economic Recession is also a big threat for almost all the countries these days. There is also a bit threat from indirect competitors that may grow in future. newspapers and internet.4 Threats Competitors providing same technology. Advertising the product through the channel of media. 2. Biometrics Securities has planned to import their products all over Asia. Based on this research following has been established: Products meets customer expectations 15. It has also been observed by the research that it could be helpful for market of transporters. 4C stands for customer.1 Customers Biometrics Securities has entered the market of securities 3 years ago and currently it has been the leading car biometrics securities provider in Pakistan. competitor. 5 . Product does not fully meet customer requirement 5. Does not meet customer expectations 3.2 Focused Group Analysis 20 in number prototype security systems were distributed among customers for product analysis and feedback.Marketing Report distributed at various showrooms and service centres for subsequent feedback from respective customers. SITUATION ANALYSES Biometrics Securities owners and directors analysed and planned the situation of the product using the 4C framework. company and context. 4. potential market value of our product is as given below: Product meets customer requirements 40. A total of 50 questionnaires were distributed and on the basis of feedback received. No Reply 5 3. No reply 2 4. Biometrics Securities is also exploring his market by selling their product to the local contributors and car accessories holders.1. The company has built strong relationship with the well-known dealers of cars in Pakistan by focusing on communication and services channel. what their specific needs are. However. Biometrics Securities offers several different car accessories serving the growth of inline automobile industries. The company has maintained its standard though out. that has helped in binding strong relations with its customers. the capacity utilization is expected to be 70%. due to the high rate of criminal issues in the city. 80% and 100% in the first. and third year respectively. After detailed analysis it has been found that its major competitive advantage is the assured access to good quality raw material at a very reasonable cost.3 Company Biometrics Securities products have been well received and marketing will be the key to the development of brand and product awareness as well as the growth of the customer base. 4. The real edge of our product is that it can only be operated by the designated person. This information will be leveraged to better understand who is served. 4. and its ability to scale up operations within the first two years by acquiring processing units in strategic locations through venture funding.2 Competitors Since its an innovative product initially launched by Biometrics Securities. and how Biometrics Securities can better communicate with them. There’s a huge wide range of products produced that are being used by consumers on regular basis. The major competitors are the organizations which are providing services to secure your car which includes Car Remote Security Systems and Manual Anti-Theft Systems. People at Biometrics Securities work together to attain a single target that is customer needs and satisfaction. second. The plant will operate for eight to nine months in a year. Initially the capacity is to generate 15000 biometric cars remote per month on a full capacity basis. 6 . Biometrics Securities possesses good information about the market and knows a great deal about the common attributes of the most valuable customers.Marketing Report The customers have always been quite contended with the products. Customers don’t feel like switching to any other security system and are blind folded by the standard and quality produced. 4 Context It has been observed that currently the strength of automobiles in Pakistan is around 5 million and its increasing by 10% each year.000 issues of motor bikes theft occurs. Year End of Dec 2010 End of July 2011 End of Dec 2011 End of July 2012 End of Dec 2012 Sales (piece) 500 700 800 1200 1500 Rupees (Thousand) 750 1050 1200 1800 2475 Assumptions: 7 . MARKETING OBJECTIVES 1. MARKETING OPPORTUNITY AND ISSUE It has been felt that a large number of car users faced the risk of car snatching due to nonavailability of a fool-proof and effective Car Security System.Marketing Report 4. 2000 and 3000 pieces in the first. Keeping in view the above problem. tracking devices / services available in the market are not 100% secure and could be tampered easily. By keeping this in mind Biometrics Securities produced a product which would be more reliable and economical product that would benefit the owner of cars. 5. a product has been invented and produced for launch in the local market. Stats provided by Citizen Police Liaison Committee is each year 1500 crime cases of car and around 20. 6. At the same time. And almost 30% of the cars have been stolen on a gun point situation. Achieve sales of 1000. And the remaining 70% of the cars has been stolen by master door key or by using other tools which are handful to unlock door locks. second and third year respectively. It has been analysed that in this modern age people are more concerned about the security of their cars. which ensures round the clock complete protection of their vehicles. while the pull strategy is used for long term period and in this strategy company emphasis on trade rather than customers. Push strategy is concerned with the short term period and it is usually less expensive and in this strategy the company emphasis over the customers. for nine months in the second year at 80% of the capacity and for 10 months in the third year at 100% of the capacity.Marketing Report The manufacturing plant will run for eight months in the first year at 70% of the capacity. 7. Biometrics Securities uses two types of strategies. maintenance cost and operational cost by maintaining the quality of the product. By keeping in mind user friendly and portable product will be marketed to gather the maximum attention of respected customers. price and reliability.1 The growth Strategy For corporate growth Biometrics Securities is following growth strategies: 1) Product Development 8 . such as Push and Pull Strategies. 4. 1650/ piece for the third year. MARKETING STRATEGY The marketing strategy of Biometrics Securities is to provide satisfactory and reliable product that will ensure the financial factors. 1500/ piece for the first two years and Rs. 2. Achieve an internal rate of return of about 30%. 3. The realized price will be PRs. 7. They use the combination of these two strategies. Achieve the image of the most-preferred supplier in the minds of the buyer by delivering the superior value through quality. Achieve an average growth in sales of about 25% per year. user friendly and easy to install. durable. 9 . We are also planning to produce the product which would be able to secure motor bikes also. A single product would be launched with the features of remote security. Parallel to distributors and car dealers market car accessories holders and transporters also lie in the boundary of targeted market. long lasting. central locking and car tracking and the major advantage of that product would be “Biometrics” Technology.Marketing Report 8.1 Product Biometrics Car Remote System is of high premium quality product and mainly to cater the upper-upper and upper-lower class market. This product is basically the demand of those who are car lovers and who are worried about the security of their vehicle. We had created our own contributors so that we can capture small markets which involve car mechanics. TARGET MARKETS Biometrics Securities will collaborate with all types of car dealers and distributors whose focus is to maintain the relationship with the customers by providing them best quality product and services. 9. POSITIONING Biometrics Securities position itself as a value-for-money brand. Its management is able to use its vast experience and personal passion for the security to develop innovative. Its appeal will be “Lets secure your car”. 10. useful accessories for a broad range of vehicles securities. 10. one that is reliable. Price. Furthermore. MARKETING MIX In this area we will discuss 4P framework of marketing which includes Product. Place and Promotion. easy to carry. this product could be enhanced with the technology of Car Tracking System which would be handier for the customers. Before we start exporting our product to other countries we have to identify the stats of crime rates. Since this product is compatible with all kinds branded cars therefore it could be marketed all around the world but it wouldn’t be very successful to those places where there are low crime rates.4. The distributor will decide the maximum retail price to be printed on the packing. The Security system does not have any running costs like service charges. After the completion of first year and analysing the market of the product we would also start selling the product in other cities of the country. showrooms. and accessories holders which are in Karachi and Islamabad.3 Place Initially Biometrics Car Remote will be supplied to almost all car dealers. 10. 10. 1500/piece which includes 4 rechargeable batteries to the contributors. 65 million. distributors. 10.1 Advertisement 10.4 Promotion Biometrics Securities actively participate in all the promotional activities. 10 .V ads. We have also planned to open a regional office in Middle East and Europe after the end of 1 st phase.2 Price Pricing strategy of Biometrics Car Remote System is quite effective. maintenance etc. The discount of 10% will be offered on the invoice price for quantity exceeding 200/months to the contributors. The annual cost of the promotion is RS. the ads were screened on almost all the media channels.1.1 Electronic Media Biometrics Securities promotes the Biometrics Car Remote system by T.Marketing Report 10. Hence they offer valuefor-money the selling price will begin at the rate of PRs.4. right about it also arranges different competitions with different security companies for promotion purposes. decision friendly.4. Spider. how to recover it back to stable mode if gets hang and how to change security settings.1. monthly. RECOMMENDATION We have some suggestions for the company. REVIEWS AND CONTROL Biometrics Securities will have simple. New Week. weekly. MARKETING ORGANIZATION The responsibility of one of the two owners is to head the marketing function and will be supported by senior managers.g. and annual reports focusing on Revenue and unit sales Expenses Customer Feedback 12.g. It includes software re-installation. Some of them are: As far as prices are concerned they are little bit expensive as compared to their competitors so we suggest that the charges should be reduced. Jang & Express newspapers have been selected for publishing ads.3 Personal Relation with consumers Biometrics Securities established call centre which helps consumer’s queries about the security systems.4. Biometrics Securities should attract maximum customers and satisfy them. Dawn. quarterly. E. They are also promoting their security system through magazines E. 13.1.2 Print Media Biometrics Securities publishes promotional ads of security system in the newspapers on regular basis. 11. 10. 11 .Marketing Report 10. By this. product and marketing mix. Join alliances with automobile industries. change the characteristics such as quality.Marketing Report They should reduce the size of the product so that it can be kept in pockets. They can increase their product line by adding more products into their range. It should increase their advertising and promotions. The company should try to change the packaging of the product. They should try to modify the market. and overcome its weakness. 12 . in order to maintain a good recognized position and meet competition. so the threat from competitors is lessened down. They should try to cater to every segment with different products. to bring the product back to the growth stage and attract more customers. Biometrics Securities has weak production link. Biometrics Securities can cater to huge market and maintain good customer relationships. it should try to invest more in its production. to which you can provide products on large scale. it can attract new users. so that it can meet customer needs more efficiently.