Cosmo, Inc. is a leader in the development and distribution of wearable technology, including fitness coaching, nutritional coaching, and lifestyle advising products. The company holds a 33-percent market share in the wearable technology category. After doing marketing analysis, senior leadership realizes the onset of competition could negatively impact future earnings.
CEO and President Harold Living tells his leadership Cosmo, Inc. needs a new marketing strategy to not only increase market share but to maintain current levels. Based on data analytics, Cosmo decides to incorporate technology trends into the companys strategic marketing, including:
Internet of Things (IoT).
The mobile technology movement.
Living selects a task force to review Cosmo, Inc. and their competitors data analytic reports to recommend a new strategy.
Demographics include but are not limited to:
Annual income greater than $75,000.
Residents in cities with population greater than 500,000.
Utilize mobile technology at work and home.
Utilize Cloud technology at work and home.
Marketing Campaign Strategy Objectives
The campaigns goals are as follows:
Develop a marketing campaign strategy to increase production of wearable technology by 25 percent.
Increase customer base by 20 percent by identifying unknown customer segmentations based on age, demographics, income, education, and technology.
Utilize current technologies, including social media and data analytics, for predictive analytics to identify known and .
Become a leading competitor in wearable technologies.
Become a leading competitor using trending technologies, including IoT, mobile technology, and artificial intelligence applications.
Integrate technology into current ERP and Marketing systems to create an improved digital business of the future and to deliver and support products to improve the customer experience and mesh embedded services of people, devices, and content.
Develop and implement a new process within the to establish new-product support services.
Meet current and future neutrality regulations.
Details about the project include but are not limited to:
Timeframe: 10 weeks.
Campaign length: 6 months.
Measurement: Performance reports to be developed in order to monitor the increase in customers and customer satisfaction rates.
o Information Technology.
o Customer Service.
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