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BMK 501 Marketing Managing Tutor-marked Project 2 PROMOTING PLAN We. Executive Summary Introduction As a result of increase of health understanding among Malaysian and the development in the field of audiology, the number of individuals diagnosed with experiencing impairment has grown tremendously. This kind of hearing damaged population are searching for a solution to help them in their lifestyle communication. The existing hearing aids on the market are cosmetically unappealing and fail to provide the sound quality that meet users' expectation. Problem statement Oticon, a Denmark based hearing aid manufacturer, believes in the potential of hearing aid industry in Malaysia. Oticon would like to generate the Denmark hearing device technology for the hearing damaged population in Malaysia. Nevertheless , the assistive hearing device industry in Malaysia is dominated by simply Siemens, a Germany business over the past decades. Objective Oticon aims to boost its business in Malaysia from 3% to 20% in one season. Oticon targeted retail product sales of RM2, 074 000 from its three hearing aid organisations (outlets) located in Penang and Kuala Lumpur. Secondly, Oticon aims to attain gross sales figure of RM1, 476 1000 through the flow of hearing aids to the 30 existing hearing aid companies in Malaysia. The projected net income is RM1, 584 400. Third target is to give a good income margin of 55-60% for the dealers (hearing aid centres). Fourth target is to maintain your hearing aid cost compatible with other brands while up keeping the top quality of the hearing aids. Strategy The product becoming introduced is usually Delta, a distinctive hearing aid with premium sound quality. The target market is the upper middle section and prestige. There are three prices 0
(RM4000, RM4800 & RM8200) depending on the features (frequency channels) and microchip. Delta can be found in Oticon's stores (two in Kuala Lumpur and one out of Penang). An additional distribution strategy is throughout the existing assistive hearing device centres in Malaysia which can be currently recommending Siemens hearing aids. Action plan The first thing is to introduce Oticon's merchandise to the audiologists (a healthcare professional who diagnoses hearing disability and prescribes hearing aids to patients)
government clinic and private hearing aid centres by using a workshop or perhaps seminar. After that demo group of the about hearing aids are given for the audiologists on loan basis so that they can try it out on the people. Advertisement in the newspaper and distribution of printing materials such as pamphlets and banners are effective tools to promote and introduce Oticon to the general public. Next, Oticon will give campaign in order to catch the attention of customer. The promotion selected is the expansion of warrantee period in one year to five years. Conclusion The marketing plan needs to be monitored and the outcome must be measured for the company's ongoing improvement. In the event the plan does not meet the goals set, Oticon has to identified the root trigger and alter its marketing plan consequently. Apart from this, Oticon has to continually develop impressive and powerful solutions population. to provide optimum satisfaction towards the hearing disadvantaged
II. Current marketing circumstance Product The item chosen is usually hearing aid. Assistive hearing device is an electric device that amplifies audio so that it is definitely audible towards the individual with hearing loss. The first transistor hearing aid was introduced in 1953. With the development of the transistor, the aids could become smaller sized and more powerful. The use of microchips for development hearing aids was introduced in 1985.
Today's contemporary electronic assistive hearing aids convert appear pressure waves into electric power by a microphone. The electric impulses are then amplified through manipulated electronic circuitry. The increased electric urges are then reconverted with a receiver to pressure waves at a much more intense level to be offered to the disadvantaged ear. Different styles of hearing aids:
Recently, hearing aid was...
References: trout/positioning/ (accessed 2nd April 2009). 11) BusinessTown. 2009). the year 2003. Developing a Promoting Plan.
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