Objectives

Brand awareness

First objective for stressed reduce wearable device is brand awareness through launch event. Brand awareness is one of the key objectives of marketing activities as it is important for company to reflect good customer perception towards the product. Thus it is important for the consumers to get to know about the brand and product through these marketing activities. The target is to conduct marketing activities prior to launch date and through the launch event which will occur within three months (Mohd and Sasmita 2015).

Acquire new customers

Customer at the base of the company considered for growth and for whom the marketing activities is being conducted. Therefore the second objective is to acquire new customers for stress reduce wearable device. The target is to acquire more than 10,000 new customers within next five months through this marketing plan (Mohd and Sasmita 2015).

Sales and revenue

The key focus for any company while introducing new product, is to increase the sales of the company with the eventual objective of profit earning. Therefore the objective is to increase sales and revenue by 20%. Moreover increase in profit by 10% within next one year.

Market share and Market entry

Another objective through this marketing plan is increase in number of stores and to enter new market areas, through increased location to target by the company. The target is to enter additional two locations within next one year of the launch. This will also include to increase market share by 5% in next one year.

Employees acquirement  

Another objective is to increase number of employees for the organisation, as employees are majorly responsible for the performance of the organisation. Therefore the company‘s target is to recruit skilled and competent employees by 15 %, and reduce the employees turnover rate to less than 5%, achievable by next six months (Chari and Feng 2018).

References

Chari, S, and H Feng. “Research in marketing strategy.” Journal of the Academy of Marketing Science, 2018: 1-26.

Mohd, N, and J Sasmita. “Young consumers’ insights on brand equity: Effects of brand association, brand loyalty, brand awareness, and brand image.” International Journal of Retail & Distribution Management 43, no. 3 (2015): 276-292.