Part 2 Marketing plan Need 2 pages

PART 1: COMPANY PROFILE & STRATEGY

1. Company overview:

Transcendent Designs LLC is considered one of the major innovator companies, with its headquarters in Scottsdale, Arizona. The company’s founder Brent Morgan is known to live in different countries including China. Founded in December 1994, Transcendent is a corporation in the electronic manufacturing sector with 10 employees. It was established to provide innovations and improved solutions to diverse sectors. The firm specializes in innovation, mobile technology, electrical engineering and renewable energy. Its mission is to provide solutions for the improvement of human life.

According to the company website, their newest product is Super-Screen. They use technology that enables to wirelessly transmit information of one’s phone model to a 10-inch tablet. The display is 4 times larger and in HD without being chopped or blurred. This can allow easy access and use of a person’s gadget. Brent has launched a Kickstarter campaign to start it and get fund for the product (Superscreen).

Mission statement:

“A less complicated,more fulfilling life for all” -Transcendent Designs LLC

2. Provide a brief industry/market profile of your firm

Tablets global industry:

Hand-held devices like smartphones and tablets are developing more and more with advanced technologies to satisfy the high demand of the customers. Nearly 270 million tablets are expected to be shipped worldwide by 2019. Europe has been a leader in the global market since 2013, when the region held about 28 percent of the global market. Many companies such as Apple, Samsung, White Box, Microsoft,... are leading vendors in tablets industry. Apple has been the leading vendor in the tablet market since the second quarter of 2011, when the company held just over 60 percent of the market share. However, the company’s market share has been steadily decreasing over the years. As of the fourth quarter of 2015, Apple’s tablets accounted for around 25 percent of the market. Samsung's share grew from 7.3 percent in the second quarter of 2011 to 13.7 percent in the last quarter of 2015. Asus and Lenovo are also slowly taking a more significant portion of the global tablet market.

Market profile:

The company tries to get every person to gain an interest in its products. Transcendent has stretched into various products. It has been in the technology industry since 1994 (22 years) to create a diversity of products enables penetration into the market and increase in market share holdings. In a century where technological advancement is on the peak, any smartphone holder is a possible buyer of Super-Screen. Demographics – 70% of the smartphone holding market is likely to demand a gadget that emphasizes their device feature. The move by Transcendent to develop a device that can cover that need can be termed as timely and well informed (Superscreen).The behavior of people to watch videos on their phones is common among people between the ages of 16-24. The market size of individuals at that age is a greater consumer of smart technologies compared to others. The possible growth rate can be gauged at 60%. Even though there is no statistic showing the annual sale of the firm, the fund they got from backers for Superscreen has been $2,358,176. This fund met their stretch goal to upgrade many parts of Superscreen such as battery, speaker and camera.

3. Summarize your findings and justify why you placed the products where you did.

BCG MATRIX

Relative Market Share

Superscreen is at the Question Marks quadrant of the BCG matrix. The product is a new product which has chances of getting a high market growth rate, and it has a little market share. At such a stage the product calls for substantial investments to get returns. The product require a lot of financial resources (fund from backers in Kickstarter) to increase their share since they cannot generate enough cash themselves.The product will either achieve a high market share and become a Star or drop into the dog quadrant(Marmol & T, 2015).

Tablets and laptops are competitive products for Superscreen. The Superscreen innovation is designed to replace tablets. Therefore if Superscreen has to beat the competitors, they have to get a relatively higher market share. Tablets are in Star quadrant of the BCG matrix because it generates large profit but need a lot of cash to finance rapid growth. For example, Samsung has invested its resources to expand tablet market presence because it has potential gaining a larger market share and attain a stronger position in the market for Samsung. Laptops could also be alternatives to the Superscreen as they can perform nearly everything that the Superscreen is designed to do. Laptops are at the Cash Cow quadrant since they have a significant market share within a mature industry (low growth market).

4. Identify the growth strategy your firm using (Chapter 2)

• Product development:

The company is making a new product for their current target market. The product development strategy calls for a good understanding of the target customers, to produce goods or services that would attract them. The company is aiming to provide a new product to their current markets hence the product development growth strategy(Spender & J.-C, 2014). Superscreen is invented to focus on customer needs where the users can wirelessly sync data from their mobile device to see and engage all of that in a larger scale. Superscreen perfectly scales the content (4x display) in full HD so nothing gets blurry or chopped. Transcendent Designs wants this product to be more convenient and less expensive but still provide efficiency of the product.

• Market Penetration:

Superscreen provide similar functions as a tablet but in at cheaper price. Most of the people buy a tablet because their smartphones aren’t big enough for certain tasks. People would end up spending a couple of hundreds to well over $500 (Samsung Galaxy Tabs S3). By giving at a price of $119, the company want to increase the number of unit purchased and make price more appealing to consumers when comparing to its competitors. Superscreen is funded in Kickstarter because the company wants to generate greater brand awareness. Moreover, they introduces many promotions with special prices such as 4 superscreen for $476 instead of $1196 at the retail stores.

5. Preliminary Information Resources:

1. The Transcendent Design LLC main website where we can get updated news about the Superscreen. (http://www.transcendentdesigns.com/)

Transcendent Designs LLC. Transcendent Designs LLC, n.d. Web. 15 Apr. 2017.

1. “How A Company Raises $1M In 7 Days On Kickstarters” article of Forbes. This provides more information about how these kind of campaign get funds (crowdfunding) on Kickstarters.

Wertz, Jia. "How A Company Raised $1M In 7 Days On Kickstarter." Forbes. Forbes Magazine, 30 Mar. 2017. Web. 15 Apr. 2017.

1. An article “Superscreen puts your smartphone in the body of a tablet” in ZDnet points out advantage and disadvantage of this product.(http://www.zdnet.com/article/superscreen-puts-your-smartphone-in-the-body-of-a-tablet/)

Rubin, Ross. "Superscreen Puts Your Smartphone in the Body of a Tablet." ZDNet. ZDNet, 10 Feb. 2017. Web. 15 Apr. 2017.

1. Business Horizons Book talks about crowdfunding as a marketing tool. (http://www.sciencedirect.com.proxy.lib.pdx.edu/science/article/pii/S0007681316301264)

Brown, Terrence E., Edward Boon, and Leyland F. Pitt. "Seeking Funding in Order to Sell: Crowdfunding as a Marketing Tool." Business Horizons. Vol. 60. N.p.: Elsevier, n.d. 189-95. Print.

1. Youtube video of Superscreen inventor- Brent Morgan showing the functions of this product. (https://www.youtube.com/watch?v=F35myWVWHPE)

Superscreen Product Demo with Inventor, Brent Morgan. Perf. Brent Morgan. Superscreen, 14 Feb. 2017. Web. 10 Mar. 2017.

References:

Iacobucci, D. (2014). Marketing Management.
Marmol, & T. (2015). BCG growth-share matrix.
Spender, & J.-C. (2014). Business Strategy: Managing uncertainty, opportunity, and enterprise.

"Superscreen – Supercharge Your Phone With A 10.1″ HD Display". Kickstarter. N.p., 2017. Web. 16 Apr. 2017.