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Strategic Market Positioning and Product Development Overview for Sonite and Vodite Brands

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This document outlines the strategies and goals for the Sonite and Vodite brands, emphasizing the importance of achieving high market share and shareholder value. Key tactics include market segmentation, competitive pricing, and robust advertising efforts. The product portfolio features various models such as SIBI, SIRO, SICK, and VIRT, each with unique specifications. With a focus on increased brand characteristics and targeted market outreach, we aim to enhance sales force effectiveness and improve product competitiveness to achieve sustainable growth in the industry.

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Strategic Market Positioning and Product Development Overview for Sonite and Vodite Brands

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  1. TEAM I Penelope Santos Nick Selvaggi Alan Stutman Mike Villarose

  2. Goals • Primary goals • To gain high market share • High shareholder value • High retail sales • Secondary goals • Competitive products • Target certain markets

  3. Strategies • Market segmentation • Increase brand characteristics • Industry benchmarking • Competitive pricing • Advertise, Advertise, Advertise

  4. Brand Portfolio • Sonite • SIBI – (dropped) others, singles • SIRO - (current) others, singles • SICK – (current) high earners, buffs • Vodite • VIRT – (current) adapters, followers

  5. Product Specs • SIBI • Weight-19 • Design-5 • Volume-75 • Max. Freq.-30 • Power-30

  6. Product Specs • SIRO (original) • Weight-20 • Design-3 • Volume-90 • Max. Freq.-5 • Power-12

  7. Product Specs • SIRO (Modified) • Weight-13 • Design-6 • Volume-45 • Max. Freq.-50 • Power-90

  8. Product Specs • VIRT • Autonomy-10 • Max. Freq.-10 • Diameter-90 • Design-9 • Weight-95

  9. Pricing

  10. Advertising • Marketing Research budget • 5% of sales • Advertising • 1% of sales • Sonite market • Years 1-3 – all segments • Years 4-7 – individual segmentation • Vodite market • Years 4-7 – adapters, followers

  11. Sales Force • Distribution Channels • Specialty Stores - primary • Department Stores - secondary • Mass Merchandisers – minimal allocation • Increase sales force by 12% per year

  12. Research and Development • Modified SIRO • PSIPS • More competitive product • Created SICK • Target high earners, buffs • Replace SIBI • Created VIRT • Try to capture Vodite market • Created VIRV • Did not hit market

  13. Budget • NO SALES = NO BUDGET • NO BUDGET = NO ALLOCATION • NO ALLOCATION = NO R&D • NO R&D = NO PRODUCTS • NO PRODUCTS = NO MARKET SHARE • NO MARKET SHARE = NO SALES • NO SALES = NO PROFIT • NO PROFIT = LOW STOCK PRICE • Budget increased aprx $2 million in 7 years

  14. Stock Price Hi – $1077, Low $860, Ending - $906

  15. Mistakes Made • Allocation of Advertising budget • Too much research • Not enough actual advertising • Use of R&D • Not enough money for projects • Inventory holding costs - production • Use of multi-dimensional scaling • Perceptual objectives • Comprehension of Game

  16. KKSrinicard • Advertising Budget : $ 7,000,000 • Holding Cost : $ 3,000 • Advise from KK: Priceless For everything else there’s Srini

  17. Questions?

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