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Vigilant

Term Project:
Bloodhound

VIGILANTECH CORP

Table of contents

1 An introduction to the topic 3

2 Problem Definition 3

2.1 Need for a new product 3

3 Situation Analysis 5

3.1 Who is the customer 5

3.2 Economic & Qualitative Evaluations 7

3.3 Assumptions 9

3.4 Costs 10

4 Potential market in terms of dollar, profits and sales 12

5 Marketing plan for the introduction 14

5.1 Product: Brand name, package, etc 14

5.2 Promotion 16

5.3 Distribution 17

5.4 Price 17

5.5 Rollout timeframe 19

5.6 Potential threats to success 19

An introduction to the topic

Wristwatches have had an enduring appeal to different people for many different reasons. Perhaps less distinguished than the pocket watches of old, wristwatches have nevertheless become vital elements of modern day attire. Indeed, so comfortable have many people become with them, they fail to remove them even while swimming or showering. A few might even be more likely to leave the house shoeless than to start their day without their wristwatch.

Wristwatches have traditionally maintained their appeal on 2 levels: functionality and attractiveness. Product offerings can be found at all different points along the continuum to satisfy these 2 needs. From the inexpensive yet tough and practical Timex “Ironman”, to the diamond studded gold Rolex “President”, there is no lack of watches from which the practical or prestigious customer may select. We, however, would like to introduce a third appeal: peace of mind. In addition to knowing the time of day or knowing one has achieved a certain status in life, watch buyers can now know where they are or, more importantly, where a loved one is.

Problem Definition

2.1 Need for a new product

With the “BLOODHOUND” from “VIGILANTECH CORPORATION”, GPS technology has found a new and perhaps life-saving application. With a tiny transmitter placed inside an ordinary looking watch, the wearer’s location can...