The new Sparta smart watch.

After keenly observing and evaluating the current market, the new Sparta Watch will be introduced. Many of the people who buy fashion watches which are branded are between 18 and 38 years of age. This will be the target market for this watch. The new product will be innovative and its marketing will involve extensive advertising, and wide distribution so as to reach the target market and fetch as much revenue as possible. The product will be launched with a penetrative price of $45 and will be targeting to gain a market share of 5 percent initially. The wide distribution will be aimed at having a constant growth in the market and more so ensure that the expected impulse buying by fashion lovers is attained.

The Sparta watch has stronger benefits than the current markets being offered in the market. To achieve the set objective the new product will offer unique features in terms of variety in design, and will use an android operating system that will have an enhanced network connection and the capability get social media notification and this will better than the available watches in the market. The smart watch application will consist of sensors and smaller screen. This an opportunity to explore since very few to no smartwatches in the market can offer such features simultaneously at a very low cost. The general aim is to provide consumer watches and that can also add up as an industrial timing device. It will be based high skills in making of timing movements of high quality and casings made of coated metal or plastic casings. It will be made of different varieties for men and women in terms of design with different colours and appearance.

The market will directly compete with other branded watches on in fashion but the unexploited market for watches noted after the market analysis. After the analysis, the buyers who are over 38 years bought less than 45 percent of the fashion watches that are branded. The largest purchase frequency was observed in the age bracket of 25 -30 years who buy 70 percent more watches that the average buyers. Thus this group will be categorised in one segment and the advertisement efforts will be directed more to this group who normally have a higher purchasing power than the rest. The purchasing pattern is also expected to be different among various genders. The young women in the age bracket of between 18-30 years will be expected to purchase more intensely and thus will be considered to be a different segment. This is a group which is likely to be very style conscious. The female in the bracket age of between 31- 38 years will be considered to be a different segment , it will be the second most important segment since it is expected to purchase more of the new product than any other age- gender segment.  The pattern of purchase also showed that men tend to buy more similar manner and so this group was in a single segment.

This branded smart watch is expected to outperform most of the competitors in a 5 years’ time. Though there are 12 competitors who concentrate the market, the new Sparta watch is aimed at attaining more than 50 percent market share within a period of five years. The strength of the product will be the new innovative features shown in the product design and our experience in distribution of other electronic products. The only weakness that need to be overcome is lack of experience in distributing products in jewellery stores (Kyaw, 2015). This will be overcoming by using our experience in distributing other fashion electronics.

Security, privacy, ethical and legal issues related to digital information world and marketing.

There have been a rapid growth in the internet and the World Wide Web into something that involve a lot of people. Most of the issues arising from the internet use results due to the fact that it is shared  among the services providers , the users and others such that the there is a dependence on each person on another. The difference in this kind of sharing is determined by ones character, expectation for others and their own activities. Privacy is one of the most important aspect in security of information. This issue arises out of  many cases of firms that collect, sell or swap information like a sellable commodity. The ability to gather information, combine various facts coming from different sources and join it with other data has brought about databases that could not be previously set up. This is despite existence of laws that task the information carriers, in this case the organisation processing data, the responsibility to guard the confidentiality of information obtained from customers (Sojer, Alexy, Kleinknecht, & Henkel, 2014). The other security issue is identity theft that occurs where such information for personal identification like credit card number is used to commit fraudulent activities and associated crimes. Ethical matters in digital marketing relates to e-commerce. E-commerce on the other hand relates to issues web tracking and also the privacy of customers. Marketing firms can track the movements of an individual through a scrutiny of cookies and soft wares used for tracking. Programs like cookies cause a lot of privacy concerns. The end users may install cookie cutters and related programs to somehow control the cookies. Privacy issue may relate an employee of a firm tracking a buyer’s information on their electronic systems of payments. A firm may install monitoring systems in their computer systems to check on the activity of employees that may be malicious (Sojer et. al 2014).

Some ethical and legal issues resulting from e-marketing concerns the self-regulation. They are centred on the role played by formal as compared to how free market operates. This issue is whether the private firms are able to introduce self-regulation measures and solve problems relating to customers’ privacy violation. The firm may lack the incentive to instil self-regulation or such regulations may be insufficient in deterring violation of privacy. Another ethical issue involve online marketing firms using recorded streams of user ticks to develop the profile of users for purposes of marketing. A challenge presented by digital information on marketing ethics is intellectual property ownership, the freedom to express oneself and collection of data relating to underage children. Another unethical business practice is using spamming as a means of advertisement. When it is used in this manner, a message is sent to a lot of interest groups or newsgroups which are not related to the ad.  There is also the issue of spoofing that involve using websites or email to impersonate corporations or individuals (Carpenter, 2013).

 

References

Kyaw, H. (2015).Marketing Proposal and Strategy for New Xiaomi Product.6-12

Sojer, M., Alexy, O., Kleinknecht, S., & Henkel, J. (2014). Understanding the Drivers of Unethical Programming Behavior: The Inappropriate Reuse of Internet-Accessible Code. Journal Of Management Information Systems, 31(3), 287-325. Retrieved from: http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=6&sid=abd9c040-64d0-4c06-a4d6-735b49b3797e%40sessionmgr104&hid=122

Carpenter, K (2013).Ethical Issues of Online Advertising and Privacy: University of Tennessee Chattanooga.2-9.