The target consumers
Discuss about the Detu Max Market Strategy for Target Consumers.
The company has been able to meet these demands by coming up with a new Detu max mainly designed for the following groups. The commercial business, social influencers and the media business. This is because a 3D 360o VR camera is equipped with a capability of shooting a stereo motion images at 8k resolution. The other element in the brand is the real AI object track which is generally calm. This feature can be a very ideal for situations like the live streaming since one can view the subject without necessarily getting up and turning around. Detu has released other brands like Detu F4 plus cameras, but they do not provide a 3D feature or added benefits like the ones with the new Detu Max. The camera is as well very important for the social influencers since it has been engineered to enable the users to build the VR 3D live streaming. Thus, can be used to stream directly to social media platforms like Facebook and on YouTube. The Detu Max camera is also ideal for other commercial business like the Android apps and the iOS users. This because its compatible with the applications easily hence can be used in improving the mobile phone features which can make it easier for business individuals to edit the images to share on social media platforms. The camera can be used by the entrepreneurs in solving some problems liking gathering the data that can be used in business decision making. For example, they can equip it on the billboards to gather the details of those passing by in terms of their gender, age and how they often look at their billboards. Then these details can be transmitted to their data base. Lastly the new Detu max VR camera can be used by the director of photography services for the production of TV commercials. The camera is very suitable for recording video campaigns like the Olympic skaters which can be used in television commercials (Hennart, 2012).
The Detu Max VR camera is attracting the new customers every day marking its significant market growth. The market is growing at a high rate due to the affordable prices of the product and the many campaigns conducted to promote the brand recently. Following the thirteen days campaign, the new Detu Max camera market is seemingly growing every day. The brand has already received about $ 150000 funds from other organizations like backer and at the same time attracting more consumers. For instance, through the campaign, many customers have been able to order the product at a reduced price. The company is as well partnering with Facebook and the red who are in the processing of developing a high-resolution VR camera thus increasing the market for their brand at high range (Reeves, Love and Tillmanns, 2012).
The Detu Max has plans to undercut the competitors as predicted due to the price placed on the product. The brand has been priced aggressively such that the retail price is at $3499 which is the same price as the competing insta360 pro according to its recent market review. With regards to its AI feature, the new Detu Max 360 VR camera will also be competing with the Pilot Era that uses AI as well. Detu Max has been able to outdo some of its competitors through the Kickstarter campaign by providing affordable prices. The brand has also been availed in super early bid backers and their website making it easier for the consumers to make their pre-orders (Atsmon, Kertesz and Vittal, 2011).
The Detu Max is high consistency with the market mix the 4p's/ 7p's like the product, price, place, and promotions with their brand's repositioning. First, the company is providing a quality product and at the same time being very innovative to add more value to their consumers and remain at the top of the market(Todor, 2014). This is made possible by the fact that their services are readily available through linking with other marketing organizations like Facebook. The company is also offering the warrant for the product which has enabled it to win the consumers reputation. Detu Max's fame and success have helped them to gain more customers and supporting groups than expected thus allowing them to create the campaign for their product and train the technicians as well. The company has a secure website where various consumers can make the pre-order without necessarily physical visiting them. The site is strategically placed in such that the customers can access the service of their interest, for instance, the demo on how to handle the new Detu Max VR camera. The company is as well planning to expand its website to incorporate the e-commerce and avail the brand for purchase on the online platform. Very few of their competitors are doing the same, and that guarantee them in taking the advantage in becoming the pioneers in that regard (Gopaldas, 2014). The last 4p is the promotion of the Detu max VR camera which is mostly done through their website and the promotion campaigns like the one conducted recently for thirteen days. Other than their website, Detu Max is as well using the social media like Facebook and the search engines optimization.
The market mix
The SWOT framework serves in revealing the identity of ideal suitability for the internal weaknesses and the strengths in a given business organization and its environmental trend in the marketplace(YWCA Metro Vancouver, 2016).
The strength. With the Detu Max company, forces can be viewed as unique techniques, capacity and the available resources that have enabled them to execute their duties(Biddy, Scarlata and Kinchin, 2016). The camera can allow the professional content creators to shoot an HDR 3D pictures and at the same time provide a resolution of 12K.
The weakness. This is one of the factors that has limited the Detu Max company in progress towards achieving the targets. For instance, the limited resolution and the viewing field when the camera is head-mounted challenges its usability and the perpetual realism (Haycock, Cheadle and Bluestone, 2012).
The opportunity. An opportunity is in regards with the external and internal forces that have substantially increased the demand for the new Detu Max VR camera. This has been observed with tremendous support from other stakeholders like the backer and Facebook.
The threats. These are the unfavorable conditions within the business organization that can impede its strategies. For instance, many of the professional photographers and the content creators' belief that the new VR 3D Camera by the Detu Max might be too costly to include it in their live stream activities.
Within the photography and in content writing is one of the markets with numerous competitors and each fighting for the market share. The new Detu max VR camera is an emerging which has not yet been discovered by many potential competitors. However, the company needs to adjust its operations to rich the world largest market as soon as possible to win a considerable number of the consumers. The company should sign a deal with other online marketing platforms like Facebook and Twitter to route in the future of the photography market (SANAC, 2011).
About the Business level strategy, the company should be able to incorporate all the other areas within the organization to meet a common business goal. For example, the company can make more campaigns and also introduce other promotion methods to create more awareness of their bland. This promotion will have a straightforward win against their competitors(The Nielsen Company, 2015).
The Detu Max company can as well improve its information technology strategy. This change will significantly impact their decision making to a significant scale for the sake of reducing the expenses through the re-prioritization. If the company can achieve this, then in the next like three years I expect its profits to shoot up tremendously.
Lastly, the company can implement market segmentation. The segmentation can be one of the most important marketing technique that can set Detu Max apart from its competitors. One of the fundamental rules of segmentation requires the segment to be reachable. It’s necessary therefore, for the Detu Max VR camera marketers to be equipped with the capability in identifying and serving the clients within the targeted segment. This can be well achieved through evaluating the overall donors and the constituent based on small categories with same characteristics. After establishing these segments, the company should then address these segments considering the particular reason and needs for supporting and buying their brands. By delivering their messages, then the Detu Max establish a more meaningful links between them and their supporters. Addressing the individuals at a personal level and relevantly, can add value to their VR camera brand and prevent some of their advertisement messages from being ignored(Venter, Wright and Dibb, 2015).
Atsmon, Y., Kertesz, A. and Vittal, I. (2011) ‘Is your emerging-market strategy local enough??’, The McKinsey Quarterly. doi: https://dx.doi.org/Article.
Biddy, M. J., Scarlata, C. and Kinchin, C. (2016) Chemicals from Biomass: A Market Assessment of Bioproducts with Near-Term Potential, NREL Technical Report NREL/TP-5100-65509. doi: 10.2172/1244312.
Gopaldas, A. (2014) ‘Marketplace Sentiments’, Journal of Consumer Research. doi: 10.1086/678034.
Haycock, K., Cheadle, A. and Spence Bluestone, K. (2012) ‘Strategic Thinking: Lessons for Leadership from the Literature’, Library Leadership & Management.
Hennart, J.-F. (2012) ‘Emerging market multinationals and the theory of the multinational enterprise’, Global Strategy Journal. doi: 10.1111/j.2042-5805.2012.01038.x.
Reeves, M., Love, C. and Tillmanns, P. (2012) ‘Your strategy needs a strategy’, Harvard Business Review. doi: 10.1002/smj.555.
SANAC (2011) ‘National Strategic Plan on HIV, STIs and TB 2012-2016.’, Sanac 2011. doi: https://dx.doi.org/10.3329/jhpn.v28i2.4879.
The Nielsen Company (2015) ‘Global Trust in Advertising Report: Winning Strategies for an Evolving Media Landscape’, Nielsen Insights.
Todor, R.-D. (2014) ‘The Importance of Branding and Rebranding for Strategic Marketing’, Bulletin of the Transilvania University of Brasov. Series V: Economic Sciences.
Venter, P., Wright, A. and Dibb, S. (2015) ‘Performing market segmentation: a performative perspective’, Journal of Marketing Management. doi: 10.1080/0267257X.2014.980437.
YWCA Metro Vancouver (2016) Strategic Plan 2016-2018, Socio-Economic Review. doi: https://ser.oxfordjournals.org/content/by/year.
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