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Product information
Matilda and Jack are two robots known for their emotional intelligence. This innovation was made with the sole intention of improving human health and well-being as well as improving organizational sustainability. The robots can be used to conduct job interviews because of their ability to accurately determine the cultural and emotional fitness of job applicants. The robots can be used in several other areas including schools, tired drivers, and children with autism.
Defining the market
The robotic market is very catchy and consumers can easily be seduced by the gadgets. There is a change that has taken over the robotic market especially in the developed nations including South Korea, Japan, Europe, and North America (Beltu, Fox, Powell, & Maureen, 2003). The technology used is more than technology; it is an enabling technology. A lot of research is done in academic institutions of these countries. These research activities are directly funded by the government meaning that the robotic market receives the full support of the government. As time moves on, new solutions to problems in society are found through research and development. This makes science relevant to society (Beltu, Fox, Powell, & Maureen, 2003).
The personal and servicing robotic market is growing in developed countries. There is quite a substantive use of home automation. People enjoy having robotic gadgets in their houses to aid in domestic tasks. This makes the marketing of Matilda and Jack have potential prospects since these two robots can also be used in the house to help with domestic tasks. The two robots are not only helpful with the elderly in a family setup but the children as well. Matilda and Jack are good at helping students do their homework effectively. Therefore, their presence in a home setup can be useful within a range of family members.
In the countries where the robotic market is booming, there is a lot of capital being pumped into innovation and research. However, the investments being made in these technologies are very demanding for the developers. They are required to make highly durable products that meet a specified purpose. Pricing is also another major issue of concern. The prices have to be made in such a way that the products will attract consumers. The market is large, massive, and growing.
The market size for robotic products has been growing at a high rate since 2005. The market size in terms of US dollars grew from 1 billion in 2005 to 7.9 billion in 2010 (Robotic Trends, 2006). It is projected by 2015 the sales size of the robotic industry will stand at 16 billion dollars. However, based on product categories, the daily living service products are the most popular and most common among consumers. The medical service and welfare services have also experienced a good increase in the sales volume of robots. However, not a large percentage of the market is used to it.
Launching the product
For the product to receive a successful launch, the focus will be placed on the target market and not the product features (O’guinn, 2008). During product launch and marketing, the biggest emphasis will be on how Matilda and Jack will be of benefit to the target market. The customers need to be accustomed to the knowledge of how the product affects them and not the knowledge of the product itself. The successful launch will also require the use of opinion leaders early before the product starts selling in the market (O’guinn, 2008).
The best strategy to be used will be engaging bloggers and influential television hosts right before the launch. Since the product is expected to sell in different countries once it rolls out, the use of international media such as CNN, New York Times, and BBC will help create the necessary brand image before launching. Social media will also be used to create a brand image through advertising the product before the actual launch (O’guinn, 2008). The actual day of product launch will be made eventful within the different countries where it will begin selling. This is to attract a huge crowd and also give the product the special brand image it deserves (O’guinn, 2008).
Product and pricing plan
The product pricing will be very friendly because the sales of the two innovations are expected to initiate a culture into the robotic consumer market and cause the market to grow (O’guinn, 2008). The cost of purchase would therefore be within the same range of other similar robots however price for the two robots will be slightly higher because of their unique enhanced intelligence abilities. Matilda would specifically be used to target health care facilities especially for the elderly. This will mean that the pricing for Matilda would be slightly expensive compared to the pricing Jack. The marketing campaign will cost money. The masses need to be made aware of the benefits of the product on their daily needs. This can only be achieved through promotion and communication activities.
References
Beltu, G., Fox, D., Powell, C., & Maureen, B. (2003). Towards personal service robots for the elderly. Computer science and robotics, Caniage mellon university.
O’guinn, T. (2008). Advertising and Integrated Brand Promotion. Oxford Oxfordshire: Oxford University Press.
Robotic Trends. (2006). Global Trends in the Consumer Robotics Market. Tokyo: Robotic Trends.
Do you need this or any other assignment done for you from scratch?
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