Marketing Section

Section 3, Marketing

 

We originally began our project with the aim to create an interactive mirror but further research led us to see that this was already on the market and available to consumers but what we did see was that there is a gap for a digital interactive organising board (to replace the white board) available so we decided to pursue this.

Initially we thought to aim this product at home owner/ renters as a household product to assist those with busy schedules but as our primary research continued and we received results and insights from surveys and interviews we chose to aim the product at the hospitality industry, mainly hotels and restaurants. We have all worked in this area and agreed that this piece of technology would work well in this market segment.

 

We began our research by first seeing how many hotels and restaurants there are in Ireland and in each county in order to size our market as we plan to sell our product and focus all of our energy in year 1 to the Irish market hotel industry. We found that there are 798 hotels in total in Ireland,

Carlow: 10 Hotels

Cavan: 14 Hotels

Clare: 38 Hotels

Cork: 78 Hotels

Donegal: 53 Hotels

Dublin: 147 Hotels

Galway: 79 Hotels

Kerry: 73 Hotels

Kildare: 21 Hotels

Kilkenny: 16 Hotels

Laois: 10 Hotels

Leitrim: 8 Hotels

Limerick: 28 Hotels

Longford: 2 Hotels

Louth: 9 Hotels

Mayo: 44 Hotels

Meath: 18 Hotels

Monaghan: 8 Hotels

Offlay: 8 Hotels

Roscommon: 6 Hotels

Sligo: 14 Hotels

Tipperary: 23 Hotels

Waterford: 24 Hotels

Westmeath: 16 Hotels

Wexford: 27 Hotels

Wicklow: 24 Hotels

National: 798

All above figures from Failte Ireland,ie

 

Guest Houses (A potential Future Market):  226 National

 

 

 

 

 

 

Primary Research:

 

For our primary research we carried out a survey, interviews and researched on what organisational boards are being used in hotel in Cork and what the stores have to offer.

 

Survey Created on Survey Monkey to aim to collect data on whether or not there is a demand for this on the market. Out of 25 people surveyed, the results stand below:

  • 43% Males & 28.57% Females Surveyed
  • 58%between 21-29
  • 43% were married
  • 43% had children
  • 60% said they used an organisational tool in the home
  • 85% said they used a pin board or cork board as this organisational tool
  • 85% had a calendar hanging on their wall
  • 57% had a black or white board as a reminder, notes or shopping list
  • 85% said they would use a digital pin board in the home

From these results we are confident that there is a market for MiBoard and it would sell among home owners/ renters.

 

Face to Face interview with Chris Crowley, Operations Manager, Imperial Hotel, Cork.

11th November 2016

09.15 am

Insights:

  • The imperial Hotel has 10 different departments, all with its own manager appointed, all of these managers must be in contact constantly in order to ensure smooth running’s of the hotel.
  • From this interview we feel that a digital board would work well with an organisation like the hospitality industry. An industry that is so fast paced and receives a high volume of enquiries and has a high volume of staff in various departments
  • The constant changes and updates can be stored on this board for all to see in one place
  • The features it would assist in the day to day duties, everything in the ne place and easily accessed
  • Lower the amount of loss on reminders and notes alone would be a huge asset to any business
  • Built in Wifi would mean that managers and staff could communicate via email on the calendar feature on the board
  • Notes and comments for shift change would save time on daily pre shift meetings as staff can see this on the board
  • We must look at the price, originally we were aiming to sell this product for €200 but from this interview and the survey it seems that €150 is the maximum people are willing to pay, therefore we must look at our costings or work on our sales plan to prove that MiBoard is worth the price of €200
  • On hotel could possibly need at least 3 boards as there are a number of manger offices on the property.

 

 

Face to Face Interview with mother of 3 kids aging between 7 and 14 who also owns a restaurant, Pepperstack.

20th November 2016

7.00pm

Insights:

  • Seemed more interested in using it in the business as opposed to using it at home, was open to using it at home for a lower price point
  • Board would be used as a hub for management and staff to keep organized, it could replace every one of the boards I have in the images below
  • With it being able to be accessed from smartphones, it would be useful for staff to check their roster for the week to save members having to ring during the week to check their weekend hours
  • Overall, serious interest was shown over the product so I think the hospitality business is definitely one to strongly market this towards with maybe a smaller cheaper version for home use.

 

From our primary research of what was on offer in stores and what people are using as organisational tools, found that whiteboards, blackboards, planners and calendars are among the most popular in the home and business in relation to organisational tools. Many tend to have a multiple of these on their walls within the various manger’s offices throughout the premises. Look at the two from the Imperial Hotel Events Office in Cork, you will see both a planner and white board. Pepperstack Restaurant has numerous black-boards, white-boards and daily planners displayed on the walls also. What we are offering will be all this and more in one digital board nailed to the wall. It will not only create more space in the office but cant store all data from separate boards into one and hols staff rota’s, reminders, messages, daily specials for the restaurants, manger notes and sift change updates.

 

We also looked at organisational tools used in the home. Calendars were by far the most popular and most of these calendars have a notes section to write extra notes, shopping lists, reminders etc. All of which is offered by MiBoard at the touch of a hand.

 

We visited retail stores in Cork to see what was offered to consumers and found that in stores we found that again white boards, cork boards, chalk boards are all offered individually but nothing that has all in one. MiBoard can combine all these products into one easy to use board.

 

 

 

Secondary Research:

 

Market Segment:

 

Segment

 

Hotels in Ireland
Age

 

Not age specific
Sex

 

Both
Occupation

 

Staff members from all departments
Classification Segment

 

Lifestyle/ Demographic
Specific Requirements

 

2 or more departments within a hotel
Estimated Size of Segment

 

798 Hotels in Ireland
Estimated Maximum Sales Potential

 

399 units
Segment Value

 

€79,800

 

 

There are 798 Hotels in total in Ireland, all of which have numerous departments within the premises and all match our specific requirement of 2 departments. Urban hotels and 5 star and 4 star hotels will be our preference to break into first as these hotels have strong reputations among customers and the equity to purchase our product. There are currently 399 5 and 4 star hotels in Ireland, 50% of our target market.

Some hotels would need a minimum of two MiBoards as there are various staff areas and manager’s offices, we have based our segment value on one board purchased by 50% of hotels nationwide in our first year, this would ensue that we would break even.

‘Failte Ireland Tourism and Research Statistics’

 

Hotels Nationwide/ 4 and 5 star hotels Nationwide

 

798/388= 399

 

399 is equal to 399 units being the minimum amount of sales possible. Our segment is 798 hotels with 50% of that segment purchasing one MiBoard each.

 

€200* 399 Hotels= €79,800 potential sales for year one, our segment value.

 

Though many hotels are using the classic organisational boards these must be replace quite regularly due to wear and tear and damages. While the was some are reluctant we are confident that our product will be worth the money spent due to its long shelf life, easy to use interface and securely stored documents and data feature.

 

 

 

Market trends:

Current trends on the market are the classic White-board, Cork-board and Black-board, we have seen this repeatedly throughout our primary and secondary research. Technology is growing and will soon be the way forward in all businesses and organisations, Miboard will be the new organizational tool, the digital replacement to the current trends on the market.

 

Customers/ Target Market:

From our extensive research we have drawn together our market segment, the hotel industry. Our primary and secondary research has convinced us to aim our product at the Hospitality Industry, hotels specifically. Hotels staff are men and women ages between 16 and 65 who work in the various departments and must in constant contact in order to deal with regular changes that occur hourly in order for a smooth day to day running of the business. There is a need for everything in the one place that can be accessed constantly. This product can be used as a means of communication among staff to save on time. It is a simple product that is easy to use by all ages. It is not gender specific.

 

 

Competitors:

Though, we are not without competition but we are the only 3D physical pin board on the market. Most of our competition is online, Apps, website and features on smart tablets. Our main direct competition being Apple and organiser boards.

 

  MiBoard Apple Organiser Boards
Profitability / Turnover €75,000 $187.6m (2016) €98,000
Pricing €150 $457 €10-€40
Product Range   ·       iPad

·       iPhone

·       Macbook, Macbook Air, Mcbook Pro

·       iPod

·

·       Whiteboard

·       Blackboard

·       Corkboard

·       Calenders

Strengths ·       Easy to use

·       All features in on place

·       Cheaper than iPad

·       Can be mounted on to a wall easily

 

·       Strong brand image

·       Hight profit margin

·       Effective innovation process

 

·       Cheap

·       Well known

·       Easy to use

·       Non complicated

Weaknesses ·       More expensive than organiser boards

·       One hotel could require more than one

·       Expensive

·       Small size

·       Too many features

·       Cannot mount on to a wall

·       Information can get lost easily

·       Cannot store information securely

·       Muliple baords are need for various task/ duties/ information

·

 

 

 

 

 

 

 

 

 

 

 

 

Competitive Advantage:

 

Our product is unique as we are the only product of our kind on the market, there is no other digital organiser board. Our unique features and easy to use interface will set the product on a higher advantage to its competitors. Though we are more expensive than the traditional organiser boards we feel our features are worth paying for and people will see that.

 

 

Place/Channels or distribution/ Roots to market: 

We will sell this product indirectly to the consumer. We will visit hotels and meet with managers and staff members in order for them to test our product and see first-hand the features offered. Future hopes would be to sell in electrical stores across Ireland where there is a test product like that of a tablet or laptop so that potential customers and future target markets, eg, home owners can try this product and buy in the store.

 

Please feel free to be brutally honest guys and make any changes! see ye Wednesday morn 🙂

Trish

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