ANKER POWER BANK LAUNCH 7
AnkerPower Bank Launch
Companyand Industry Analysis
Thecompany that manufactures Anker Power Bank 12,800 is Anker LTD. AnkerLtd is powered by a vision to help as many consumers as possible topower their mobile devices. Considered as one of the best batterysolutions, the Anker Power Bank 12,800 is a device that solves theproblem of power for mobile devices (AnkerLtd, 2015).The power bank is used to charge mobile devices after charging itfully using the normal electrical charging system. The device comesin several power sizes, but the Anker Power Bank 12,800 is the mostappropriate for personal use. In addition, the Anker Power Bank12,800 stores power for several hours for personal use with mobiledevices (Anker Ltd, 2015).This marketing plan will describe the market situation, the industryand strategies for launching AnkerPower Bank 12,800 by Anker Ltd.
Thecompany operates in the Power bank industry. The power bank industryhas grown over the last few years, and so is the competition. Thecompetitive industry has a number of competing firms. Among the topcompetitors include EMAT power bank, LVSUN power bank, ShenzhenZhong power banks and Winky Industries. In addition, the firm facescompetition for small power bank manufacturers who focus on the localmarkets. These manufacturers are mainly located in the Chinese andSoutheast Asia, where there is a low cost of production, hencecheaper products. While the competition is stiff, the firm’sproducts stand out due to their quality and reliability in terms ofcharging the mobile devices.
Theneed for the power bank is constantly growing and the market isgradually expanding. This growth is attributable to the developmentsin the mobile industry, an industry that has grown over time. One ofthe main developments that gave birth to the power bank industry isthe growth of the Smartphone and smart devices. People have increasedthe use of these devices in several applications. The extensive usehas created a need for consistent and uninterrupted power. As aresult, the power bank industry has a future due to the increaseddemand for power supply to the ever growing industry of smartdevices.
Theprimary target market for the company is the growing middle classearners who desire a consistent time on the phone and internet media.For these, the company will provide the best quality power bank withconsiderable hours of service. This will allow the company tomaintain the customers by making the power bank affordable. Thesecondary target market for the firm is high income earners whodesire a multi-purpose power bank that can provide power for days.These market segmentations are mostly composed of the employed peoplewho spend time on the internet and use their mobile devices for workusing internet media channels. Therefore, the price for this powerbank will be slightly higher. According to Kotler and Keller (2012),high prices for the high end market translates to mean high qualityproducts, when these are luxurious products. Therefore, the increasein price will also maintain the customers.
Theproduct being launched is AnkerPower Bank 12800. The power bank is black in color and has threeports. The Anker Power Bank 12800 has can recharge up to 7 mobiledevices from its one full charge. In addition, Anker Power Bank 12800has power IQ and can signal the end of its power after use, for theuser to recharge.
Thecompany seeks to distribute the Anker Power Bank 12800 in the globalmarket and developing a local dominance. However, the company seeksto approach the distribution through strategic partnerships.Therefore, the company seeks to distribute the Anker Power Bank 12800in joint venture arrangements with the manufactures of the phone thatthe device will be used. For instance, the company will seek to workwith the largest Smartphone manufacturers to distribute the AnkerPower Bank 12800 along with their markets. This will make it easierfor the firm to use the already established distribution channels ofspecific phones.
Topromote the Anker Power Bank 12800, the company will embrace two mainstrategies. First, the company will work closely with the companiesthat produce Smartphone. This will however be a separate promotionfrom their promotion strategies. Secondly, the company will runpromotions to market the power bank in its own independent ways. Thefirm will use the television and radio media as well as all the printmedia to advertise. In addition, the company will use online mediaplatforms like social media networks and online advertising promotethe power bank and create awareness.
Theprice of the power bank will be constant to all the locations, butwill vary with the market segments of the company. The price for thenormal power bank for the middle income earners will be $19 while theprice for the high quality power bank for the rich will be $29.5.This differentiation will be in line with the company’s strategy tohave two market segments for the product being launched.
Analysisof Problem and success
Thelaunch of the Anker Power Bank 12800 will require specific methods ofevaluating the success of the project. However, first is to determinethe problem being solved. The firm seeks to distribute the AnkerPower Bank 12800 into the local and international market by using twomain ways partnerships and direct market entry. Therefore, the firstmeasure of success is the number of distribution agreements that thecompany will make with the large phone manufactures. Secondly, thesuccess of the launch will be assessed based on the quantity of unitsbeing sold in each continent through the strategic distributors ofthe power bank. In addition, the company will evaluate its successbased on the sales recorded through the direct market venture andthrough the partnerships with the phone manufacturers.
Recommendationsfor the firm
Thecompany should set a committee to evaluate the nature of partnershipswith the phone manufactures. In addition, the firm should approachlarge phone manufactures with sustainable legal agreements todistribute their power banks, and how the devices will be branded.More importantly, the company should also organize their internalmarketing team so as to promote the two marketing strategiesdifferently. Moreover, the company should consider licensingagreements, where it will prepare the power banks for differentcompanies that will not enter into partnership agreements.
AnkerPower Bank 12800 is a power bank device that is produced by Anker Ltdfor the local and global market. To market the product, the companyseeks to engage in strategic marketing agreements with phonemanufactures and distributors around the world. Through properpromotion and assessment of the progress, the firm will make thelaunch of the Anker Power Bank 12800 a viable venture.
AnkerLtd, Retrieved From, <http://www.ianker.com/about_us.html>February 25, 2015
Kotler,P., & Keller, K. (2012).MarketingManagement.San Francisco: Pearson