Logitech Multifunctional Remote: Marketing Plan Analysis

Product and Service Concept

The multifunctional remote device is designed to enhance the convenience of most functionalities for electrical and electronic equipment used by consumers. This product enables consumers to access and control different electronic devices through a single remote. It will facilitate communication with different servers linked to the organization and enhance the convergence of technology used within an organization. The device is user-friendly and intended to increase the level of convenience for end-users, thereby increasing overall consumer satisfaction.

The introduction of this product offers a substitute for the use of different remotes for different electronic devices. For instance, within the hospitality industry, the multifunctional remote device will facilitate different conveniences such as control of audio and video devices, room temperature, lighting, room printers, televisions, and even bed movements.

Product Mix: Price, Distribution, and Promotion

Products

The new product offering markets not only a better working space for individuals but also increases convenience for businesses and companies in general. The intangible merits of this product are its capability to meet or exceed customer expectations consistently. Nevertheless, a disadvantage is that other corporations can easily imitate these qualities. Still, being the pioneer in this space will enhance the competitive advantage of Logitech.

Price

Logitech offers a high-grade, domain-specific marketing product customized to its customers' needs. The value of this product is reflected in its medium-to-high price point. Nevertheless, the company should remain cognizant of the price elasticity of its product and overall consumer demand.

Distribution

Direct marketing distribution will be used for this product. This takes into consideration the fact that the new product is solid, portable, and nonperishable. Therefore, the product can be distributed from a central location directly to satellite outlets of Logitech spread across the globe. The ability to distribute the product to different locations worldwide is an added advantage for the company (Proctor, 2000).

Promotion

Logitech needs to engage in comprehensive promotion and marketing activities. In particular, the company will need to generate a new budget for an integrated marketing strategy that encompasses promotion and advertising activities for the successful launch of the product. The promotional message for the new product must be developed in alignment with marketing goals, the target market, and the key features of the product. Logitech will also need to focus on industry print media, including sector journals and magazines. Furthermore, Logitech will need to establish a series of presentations and showcases for industry participants, specifically electronic retail outlets and players in the hospitality industry (Roger, 1998).

Target Markets

The characteristics and needs of the potential consumer groups center on convenience in the use of several different devices, with a focus on increasing consumer satisfaction and efficiency in the delivery of services. There are different consumer segments linked to this product. The product targets not only individuals but also corporations.

For individual consumers, the product enables convenient use of different devices within the home and at workplaces. For companies, the product is targeted at different industries. In the business sector, end-users will gain convenience and efficiency in presentations. In the hospitality sector, end-users will be able to enhance in-room services for guest satisfaction. Clients will be able to use the product for different services in their rooms, such as control of lighting, room temperatures, audio and video devices, workspace devices, and even room doors.

Kotler's 7Os Consumer Research Framework

Consumer behavior examines the manner in which consumers choose, purchase, use, and dispose of products and services in order to satisfy their needs. To gain an understanding of consumers in the target market, Logitech will rely on Kotler's 7Os framework for consumer research. These seven Os help companies ascertain basic customer needs and wants, enabling Logitech to segment the market, target the right consumers, and position the product to attain competitive advantage (Kotler, 1997).

1. Object

This considers the consumer's choice with regard to the range of products or services available. For instance, Logitech will consider the different devices the remote will control, such as audio devices, video devices, lighting devices, and room temperature devices.

2. Occupants

Logitech will consider the psychological needs, demographic profiles, and geographical locations of consumers — for instance, where consumers will purchase the products, their price preferences, and the quantities purchased by different consumer groups.

3. Operations

The company will consider the manner in which consumers obtain information about the product. For instance, is it through newspapers, different forms of media, or word of mouth?

4. Objectives

This aspect enables the company to ascertain the reasons why consumers tend to purchase the products. This encompasses factors such as price, brand image, accessibility, and type of packaging.

5. Organizations

Through this aspect, Logitech will determine the key players who have a major influence on the decision-making process — specifically, whether buyers, competitors, or end-users most influence purchasing decisions.

6. Occasions

This considers the time periods during which consumers seek the product or service. For instance, is it during presentations only, on a daily basis, or while hosting events?

7. Outlets

This considers the locations or channels from which customers purchase the product — for instance, supermarkets, hypermarkets, retail shops, and specialty electronic device stores.