Marketing Plan
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MARKETING PLAN: Injectable Security Solutions
1.0 Executive Summary
Injectable Security Solutions is a start-up security solutions research, and development company. ISS is currently developing and marketing a tracking device for current prisoners, new prisoners, and parolees. ISS is not the first to market this technology, but the first to impregnate a RFID tracking chip into the chest cavity of the persons being detained. With the current prison population overcrowding facilities, ISS is offering state, federal and private prison systems a unique way to ease overcrowding by allowing less violent offenders home arrest while having the capability of keeping tabs on the whereabouts of the entire prison population. With the ever increasing strain on state and local governments to keep track of sex-offenders, ISS offers users the ability to locate prisoners or parolees at all times with quick notification to authorities of violators.
Injectable Security Solutions will achieve fast, significant market penetration through an extensive marketing and training program. Long-range research and development of new security technologies coupled with a double-digit growth rate in prison population will keep ISS with an extraordinary opportunity for market growth.
Injectable Security Solutions will sell its products initially through a small sales force of fifty representatives located in every state. This approach will allow ISS to better understand who is served, what their specific needs are, and how ISS can better communicate, and train them. By the end of the year, ISS will have developed strong account relationships, and will be able to sell some of its products and services on the internet.
Situation Analysis
Injectable Security Solutions (ISS) is entering its first year of operation. Its product is based on the successful animal tracking RFID devices. Marketing will be the key to the development of brand and product awareness as well as the growth of the customer base. ISS offers tracking devices for current prisoners, new prisoners, and parolees.
Market Summary
ISS possesses good information about the market and knows a great deal about the United States prison and parole system. This information will be leveraged to better understand who is served, what their specific needs are, and how ISS can better communicate with them.
Target Markets:
Current Prisoners
New Prisoners
Parolees
2.1.1
Market Demographics
The profile for the typical ISS customer consists of the following geographic, demographic, and behavior factors:
Geographics
ISS has set the United States as the geographic target area. ISS will use the internet and current success rates to increase sales.
The targeted market is 2 million current prisoners and 5 million parolees, with annual increases of 8.5% and 0.6% respectively.
Demographics
There is a 90/10 ratio between male and female users, with the female population percent increasing yearly.
All ages from 18 on up, with over 50% between the ages of 20 and 39.
The buyers will be United States prisons and the parole system.
The budgets of each state will be more than adequate to afford RFID devices for each prisoner.
Behavior Factors
Users enjoy the ability to locate prisoners or parolees at all times.
Prisons spend money to monitor prisoners and probation officers monitor parolees locations.
2.1.2 Market Needs
ISS is providing prisons the ability to know immediately if a prisoner escapes. The company seeks to fulfill the following benefits that are important to its customers:
Quality craftsmanship – The devices will be used on prisoners and the devices must work at all times.
Well thought-out designs – Prisons have not used devices to track their inmates. ISS has designed RFID devices to easily track prisoners.
Customer service – ISS can deliver RFID devices that are error free, with tracking systems that are easily learned and maintained.
2.1.3 Market Trends
ISS will distinguish itself by marketing products not previously available to prisons. The emphasis in the past has been to rely on fences and perimeter security. The system is not limited to prisons; it can also be used on parolees to ensure compliance with their terms of release. The prison and parolee populations are continually growing. Therefore, the marketing is directed toward these groups.
As the use of RFID devices grows, more states and federal prisons will adopt the use of RFID devices. With success, foreign markets will open and attract new customers.
2.1.4 Market Growth
At the present time, RFID is not used on prisoners. ISS conservatively estimates 210,000 units of sales for 2008. A minimum of 100% growth for ISS is projected. More and more prisons will realize the benefits of RFID devices and place orders as funds become available.
2.2 SWOT Analysis
In the SWOT analysis that follows, Injectable Security Solutions (ISS) maintains a healthy position. ISS has substantial strengths to balance out weaknesses. Market opportunities for the RFID tracking chip are quickly approaching. Competitive threats are essentially non-existent at this time and there does not appear to be new competitors entering the industry.
2.2.1 Strengths
Injectable Security Solutions (ISS) has developed technical strengths in the following areas:
Design and development of RFID chip to track prisoners and parolees
Design and development of the tracking