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The product is a complement to the existing line of iTravl translators and Lingvosoft applications for other high-end multi-function mobile devices.
Because the product has a high-end position, it should be priced accordingly. The current prices for Palm OS for example range anywhere between $79 for single language packs to $199 for multiple language packs. The iPhone applications should be priced within a similar range. The current competitor Mobile Glot has their basic dictionaries priced for free, which reflects the low quality of their product relative to Ectaco's products.
The placement for this product will be the iTunes App Store. This is the sole outlet for such applications specific to the iPhone. The target market searches the app store for these products and would not expect to find them elsewhere. Within the store, the products should be placed in the travel section, in order to directly reach the primary target market. The products can be cross-referenced in the Education Store as well, to hit the secondary target market.
The promotion should focus on building awareness. Lingvosoft should promote the product with links of its main website, in addition to using targeted Google ad searches to generate traffic to the App Store. These targeted ads are the most sophisticated online marketing tools and help advertisers better reach their target markets (Vascellero, 2009). Because the App may be difficult to find amid thousands of other applications, Ectaco needs to find ways to generate awareness. In addition to the Google targeted ads, promotion should also be conducted through product reviews in publications geared to those both tech-savvy and those who travel frequently. This will help to drive traffic to the store in a targeted fashion, increasing the likelihood of a sale.
Conclusion
The market for translators is moving away from standalone devices to software integrated with multifunction...
Ectaco already markets software for the Palm and Smartphones; it should now focus on the untapped iPhone market. The company should price at the high end of the market, as it has a premium product and strong brand name. The objective of the marketing program should be to generate awareness of the application. This can be facilitated by using targeted Google ads to drive traffic to the App Store, where the software can be purchased in a number of different permutations. The product should be "shelved" within the App Store in a number of different locations, including both Travel and Education, in order to have it found by the members of all of its different target markets.
Works Cited:
Translation.net. (2010). Handheld devices and PDA software & utilities. Translation.net. Retrieved January 25, 2010 from http://www.translation.net/handheld.html
Middleton, C. (2009). Let technology do the talking: Testing mobile translators in Chinatown. The Telegraph. Retrieved January 25, 2010 from http://www.telegraph.co.uk/travel/travelaccessories/4370561/No-longer-lost-in-translation-Testing-mobile-language-devices-in-Chinatown.html
FedSpending.org. (2010). Contracts to Ectaco. FedSPending.org. Retrieved January 25, 2010 from http://www.fedspending.org/fpds/fpds.php?company_name=ectaco&sortp=r&detail=0&datype=T&reptype=r&database=fpds&fiscal_year=2005&submit=GO
White, J. (2008). Start your engines: Mobile application development. DevX.com. Retrieved January 25, 2010 from http://www.devx.com/SpecialReports/Article/37693
FrequentFlier.com. (2010). Reader profile and demographics. FrequentFlier.com. Retrieved January 25, 2010 from http://www.frequentflier.com/demographics.htm
Vascellero, J. (2009). Google to tie ads to surfers' habits. Wall Street Journal. Retrieved January 25, 2010 from http://online.wsj.com/article/SB123675503793992831.html
Works Cited:
Translation.net. (2010). Handheld devices and PDA software & utilities. Translation.net. Retrieved January 25, 2010 from http://www.translation.net/handheld.html
Middleton, C. (2009). Let technology do the talking: Testing mobile translators in Chinatown. The Telegraph. Retrieved January 25, 2010 from http://www.telegraph.co.uk/travel/travelaccessories/4370561/No-longer-lost-in-translation-Testing-mobile-language-devices-in-Chinatown.html
FedSpending.org. (2010). Contracts to Ectaco. FedSPending.org. Retrieved January 25, 2010 from http://www.fedspending.org/fpds/fpds.php?company_name=ectaco&sortp=r&detail=0&datype=T&reptype=r&database=fpds&fiscal_year=2005&submit=GO
White, J. (2008). Start your engines: Mobile application development. DevX.com. Retrieved January 25, 2010 from http://www.devx.com/SpecialReports/Article/37693
FrequentFlier.com. (2010). Reader profile and demographics. FrequentFlier.com. Retrieved January 25, 2010 from http://www.frequentflier.com/demographics.htm
Vascellero, J. (2009). Google to tie ads to surfers' habits. Wall Street Journal. Retrieved January 25, 2010 from http://online.wsj.com/article/SB123675503793992831.html
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