“Epicsync Sportspro Fusion Watch”

Team 7

Post-Baccalaureate Diploma in Business Management

MRKT-5301-01: Fall Marketing

Professor: Anne O’Neill

November 02, 2023

Contents

Introduction............................................................................................................................................................3

Trends and Supportive Factors:...........................................................................................................................3

Potential Threats:...................................................................................................................................................4

Market Analysis:....................................................................................................................................................4

SWOT Analysis Implications:...............................................................................................................................4

Competitor Analysis:.............................................................................................................................................5

Segmentation..........................................................................................................................................................5

Segmentation Strategy for Epicsync Sportspro Fusion Watch...........................................................................5

Target Market........................................................................................................................................................8

Reasons as to why fitness enthusiasts need this product:....................................................................................8

Profile of a typical customer in fitness enthusiast segment:................................................................................8

● Geographic:.....................................................................................................................................................9

● Psychographic:................................................................................................................................................9

● Behavioral Descriptors:..................................................................................................................................9

Behavior factors that may affect target segment:................................................................................................9

Positioning Statement:.........................................................................................................................................10

Positioning Map:..................................................................................................................................................10

Implications..........................................................................................................................................................11

Marketing Strategy..............................................................................................................................................12

Market Research and Product Development.....................................................................................................16

Secure Distribution..............................................................................................................................................16

Marketing Strategy..............................................................................................................................................17

Marketing Campaign & Product Launch..........................................................................................................17

Sales Promotion....................................................................................................................................................17

Ongoing product development............................................................................................................................18

GANTT chart.......................................................................................................................................................18

References.............................................................................................................................................................19
 Introduction

A cutting-edge sports accessory called the "Epicsync Sportpro Fusion Watch" was developed to

enhance Canadians' athletic and fitness experiences. This revolutionary sports watch combines cutting-edge

technology with user-friendly features to enable athletes, fitness enthusiasts, and explorers. With the

combination of modern technology and exquisite design in this smart sports watch to give customers

unmatched performance tracking and analysis capabilities. This adaptable sports watch offers a full range of

capabilities to improve performance and monitor fitness objectives. It is the ideal sports companion owing to its

elegant and durable design, which provides real-time insights and data for a variety of sports and outdoor

activities.

The most advanced sports wearable, the "Epicsync Sportpro Fusion Watch," is made to help athletes,

fitness fanatics, and explorers perform better. It gives precise distance, route, and speed details using cutting-

edge GPS monitoring. Real-time heart rate control maximizes training effort and provides a loud alarm alert

when the body exhibits aberrant behaviors. The design's resilience to depths of up to 50 metres also makes

swimming and other water activities viable. Our watch is waterproof, making it appropriate for swimming and

other water-based sports. It is made to survive the most extreme circumstances. Its robust construction ensures

that it can survive anything, including demanding workouts and thrilling outdoor excursions. You don't just get

a sports watch when you purchase the Epicsync Sportpro Fusion Watch; you also become a part of a group of

people that share the same aspirations for their health. It is the ideal fusion of innovation, toughness, style, and

support for an improved sporting experience.

Trends and Supportive Factors:

1. Fitness Boom: People are becoming more active and there is a global upsurge in fitness awareness. This

trend is well captured by the Epicsync Sportspro Fusion Watch, which provides cutting-edge sports tracking

and health monitoring functions.

2. Smart Wearables Adoption: A key trend is the rise in popularity of smart wearables. The combination of

sports and smartwatch functions in your product capitalizes on the current trend among consumers toward

multipurpose gadgets.
3. Health and Wellness Focus: Consumers are looking for goods that not only track their physical activity

but also offer insights into general well-being as the focus on health and wellness increases. The Fusion

Watch caters to this trend with its ability to track your health.

Potential Threats:

1. Competition from Established Brands: The market's existing competitors in the smartwatch and sports

tech sectors could be problematic. It is crucial to discuss how the Epicsync Sportspro Fusion Watch sets

itself apart from other products and provides distinctive value.

2. Technological Evolution: The IT sector develops swiftly. It's essential to stay current with improvements if

you want to remain relevant. This threat can be reduced through regular upgrades or collaborations that

incorporate cutting-edge technologies.

Market Analysis:

1. Consumption Rates: Examining the consumption rates will reveal information about the demand for the

product. Given the patterns, a sustained rise in consumption rates is very likely.

2. Market Size and Growth Prospects: The market for sports-focused smartwatches is sizable and has

potential for expansion. A larger consumer base may be reached with the appropriate marketing approach.

3. Entry-level Obstacles: There may be entry barriers, such as the necessity for a sizable upfront expenditure

in R&D and marketing. Your market position can be strengthened by highlighting how Epicsync gets

through these obstacles.

SWOT Analysis Implications:

1. Strengths: To acquire a competitive edge, capitalize on strengths like cutting-edge features, brand

recognition, and technological innovation.

2. Weaknesses: Take use of customer input and ongoing improvement to address any deficiencies. This can

entail improving the user experience or feature refinement.

3. Opportunities: Take advantage of opportunities by entering new markets, establishing strategic alliances,

or launching supplementary goods and services.

4. Threats: Create backup plans for possible threats. This can entail expanding the product line, building

trusting connections with clients, or maintaining an innovative edge.

Competitor Analysis:
1. Direct Competitors: Identify key players in the smartwatch and sports tech industry. Analyze their market

shares, strengths, and weaknesses. Differentiate the Epicsync Sportspro Fusion Watch by emphasizing

unique features and capabilities.

2. Indirect Competitors: Consider other products or technologies that indirectly compete with the Fusion

Watch. This might include traditional sports watches or fitness trackers. Highlight what sets the Fusion

Watch apart.

Segmentation

Segmentation Strategy for Epicsync Sportspro Fusion Watch

Segmentation plays a pivotal role in the formulation of a marketing strategy, as it entails the division of

the market into discernible clusters of prospective customers who exhibit common traits and requirements.

When it comes to the SportsPro Fusion Watch, a premium sports smartwatch, it becomes imperative to pinpoint

and focus on the most pertinent market segments to optimize the impact of marketing endeavors. In this

segmentation strategy, we will delve into potential segments and perform an in-depth analysis using pertinent

segmentation criteria.

 Demographic Segmentation:

Age Groups: Divide the market into distinct age brackets, such as 18-24, 25-34, 35-44, 45-54, and 55+.

Gender: Segment the market based on gender, including male, female, and non-binary categories.

Income Levels: Categorize customers into different income tiers, including low, middle, and high

income.

Occupation: Identify market segments according to professions, such as athletes, professionals, and

students.

 Geographic Segmentation:

Regional Segmentation: Divide the market into geographic regions, such as North America, Europe,

and Asia-Pacific.

Urban vs. Rural: Distinguish between urban and rural markets to tailor marketing strategies

accordingly.

 Psychographic Segmentation:
 Lifestyle: Segment customers based on their lifestyles, including fitness enthusiasts and outdoor

adventurers.

Tech Adoption: Categorize customers according to their comfort and adoption of smart devices and

technology.

 Behavioral Segmentation:

Usage Patterns: Segment customers based on how frequently they use sports smartwatches.

Brand Loyalty: Identify and target loyal customers for potential upgrades or accessory sales.

Purchase Occasion: Segment customers based on specific occasions like birthdays, holidays, or

sporting events.

 Benefit Segmentation:

Health and Fitness: Focus on customers seeking health monitoring and workout-related features.

Aesthetics and Design: Appeal to those who prioritize the visual aesthetics and design of the product.

Connectivity and Convenience: Target customers valuing smart features and seamless connectivity.

These segmentation variables will help create a comprehensive strategy for the SportsPro Fusion Watch,

allowing for the identification of key market segments and the customization of marketing approaches

to meet their unique needs and preferences.

a) Market Segments:

Active Lifestyle Enthusiasts:

Demographics: Age (18-45), urban dwellers.

Psychographics: Embrace an active lifestyle, fitness enthusiasts.

Behavior: Frequent users, prioritize health monitoring.

Benefit: Seek health and fitness features, GPS tracking.

b) Tech-Savvy Professionals:

Demographics: Age (25-55), high income.

Psychographics: Tech-savvy, busy professionals.

Behavior: Frequent users, brand loyal.

Benefit: Value connectivity, notifications, and productivity features.

c) Outdoor Adventurers:
 Demographics: Age (25-55), rural and urban.

Psychographics: Outdoor enthusiasts, hikers, and adventurers.

Behavior: Occasional users, prioritize durability and GPS.

Benefit: Rugged design, GPS tracking, and long battery life.

d) Fashion-Conscious Consumers:

Demographics: Age (18-45), urban.

Psychographics: Style-conscious, fashion-forward.

Behavior: Occasional users, prioritize aesthetics and design.

Benefit: Sleek design, customization options.

e) Segmentation Grid:

Psychographic Behavio
Segments Demographics Benefit
s r

Health monitoring, GPS

Active Lifestyle Enthusiasts Age (18-45), urban Fitness enthusiasts Frequent users
tracking

Tech-savvy Connectivity, productivity

Tech-Savvy Professionals Age (25-55), high income Brand loyal
professionals features

Age (25-55), rural and

Outdoor Adventurers Outdoor enthusiasts Occasional users Rugged design, GPS tracking
urban

Fashion-Conscious Aesthetics, customization

Age (18-45), urban Style-conscious Occasional users
Consumers options

Discussion:

This segmentation strategy empowers SportsPro to finely tune its marketing initiatives, product

attributes, and pricing structures to align with the unique preferences and needs of each segment. For instance,

active lifestyle enthusiasts may show a keen interest in fitness tracking capabilities, whereas tech-savvy

professionals may prioritize connectivity and productivity features. By gaining a deep understanding of the

distinct market segments and their underlying motivations, SportsPro can craft more impactful marketing

campaigns, refine product offerings, and optimize distribution strategies. This strategic approach not only

enhances the brand's competitive edge in the fiercely contested sports smartwatch sector but also ensures that
the SportsPro Fusion Watch resonates strongly with its intended audience, addressing their specific demands

effectively.

Target Market

The target market for a device like the "Episync Sports Pro Fusion watch" would normally be those who

are interested in sports, fitness, and want to lead an active life (FITNESS ENTHUSIASTS).

Reasons as to why fitness enthusiasts need this product:

Tracking of day-to-day activities: Running, cycling, swimming, and other physical activities are

just a few of the ones that fitness watch can track.

Besides, fitness enthusiasts can track their progress and establish objectives as this watch provides

real-time data on steps taken, miles travelled, calories burned, and heart rate during workouts.

Health Tracking: This device not only monitors heart rate and stress level, but also has the feature

of tracking sleep which aids in making informed decisions about fitness routines.

Social and Community Engagement: This watch includes various apps that allow people to engage

socially. They can connect with their friends with just one click.

Statistics Insights: Those interested in maximizing their workouts and recovery times can examine

their fitness and health trends over time.

Setting a goal for motivation: With this fitness watch, users can set goals which help them to

motivate to workout.

Convenience: It is quite convenient to use as this connects with the cellphone easily,

giving notifications and calls.

Profile of a typical customer in fitness enthusiast segment:

 ● Demographics:

AGE: 18-55 years old

GENDER: Both females and males’ income: Middle to

upper class

OCCUPATION: Athletes, College-educated, professors, corporate employees

● Geographic:

Urban and suburban areas all over the world that have the access to the fitness centres

● Psychographic:

- Physically active people who prioritize their health.

- Tech-savvy consumers

- Goal-oriented people who want to be fit.

● Behavioral Descriptors:

- Can invest in fitness products.

- Engage in physical activities regularly.

Behavior factors that may affect target segment:

● Price: The target segment may be interested in buying the fitness products, but the product should

add value to their money. When they buy this watch, they will feel that it is worth their money.

● Social Influence: These Days people are following social influencers blindly. The products that the

influencers endorse have a huge impact on the decision making of the individuals.

● Brand Loyalty: Some enthusiasts have been using a brand for a long time and they prefer the

products of those brands only even if they are being offered something better.

● Technological Adoption: Some individuals may prefer latest technological devices while others

prefer simple and easy to use devices and this may interfere with the decision making.
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Positioning Statement:

Epicsync Sportspro Fusion Watch “The ultimate companion for athletes and fitness enthusiasts who

demand the pinnacle of performance and style

Positioning Map:

Epicsync Sportspro Fusion Watch is in the upper-right quadrant (Z), indicating a high-performance,

feature-rich watch with a moderately higher price point.

Competitor A is in the bottom-left quadrant (X), suggesting a product with fewer features at a cheaper cost.

Competitor B is in the middle-right quadrant (Y), indicating comparable performance attributes at a

reasonable price.

Competitor C is in the upper-left quadrant (Y), providing comparable performance capabilities at a cheaper

price.

Market Segment X is in the bottom-left quadrant, representing consumers on a tighter budget seeking

simpler features.

Market Segment Y is in the middle-right quadrant, representing customers willing to spend money on

sophisticated features at a fair price.

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Market Segment Z is in the upper-right quadrant, representing high-end customers prepared to spend more

for premium services.

Implications

 The positioning map shows the location of the Epicsync Sportspro Fusion Watch in relation to rival

products and market niches.

 The fact that Epicsync is positioned in the upper-right quadrant emphasizes the fact that it is a

premium product, offering both great performance and a higher price.

 Based on their performance characteristics and pricing points, competitors and market segments are

scattered around the map, enabling Epicsync to efficiently identify its competitive advantages and

target sectors.

 This map informs Epicsync's marketing and product development initiatives, enabling it to

effectively compete with its rivals and meet the unique demands and preferences of various market

segments.
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Marketing Strategy

Marketing Plan for Epicsync Sportspro Fusion Watch

Product:

1. Product Description:

o Product Levels: The Epicsync Sportspro Fusion Watch is a multi-functional wearable device that

combines the features of a sports watch, fitness tracker, and smartwatch.

o Product Class: Wearable technology.

o Individual Product Decisions:

 Attributes: Heart rate monitoring, GPS tracking, sleep analysis, step counting, call and

message notifications, waterproof design.

 Style: Sleek and modern, suitable for both sports and everyday wear.

 Level of Customization: Users can customized watch faces and straps.

 Packaging: Eco-friendly packaging to align with our sustainability commitment. (Sullivan,

2018)

2. Brand Development Strategy:

o Brand Name: "Epicsync Sportspro Fusion."

o Logo: A dynamic and abstract design representing sports and connectivity.

o Brand Color: Vibrant blue to symbolize energy and reliability. (Cullen, 2023)

3. Position in the Product Lifecycle (PLC): The Epicsync Sportspro Fusion Watch is in the introduction

phase. This means it's a new product in the market, and our focus will be on creating awareness and

building its initial customer base. (ProfessorCrownPenguin, 2023)

 13

Pricing:

1. Price:

o Price for Intermediary (if any): $150 per unit.

o Final Price for Consumer: $199 per unit.

2. Product Margins:

o We aim for a 25% margin, considering production and distribution costs.

3. Pricing Strategy:

o Penetration Pricing: We are launching at a competitive price to quickly gain market share and

establish our brand.

4. Pricing Adjustments:

o Limited-time sales promotions during key sporting events to encourage initial purchases.

o Loyalty program offering discounts for repeat customers. (MasterFangTapir, 2023)

Placement:

5. Type(s) of Channel Used:

o Direct Sales through our Website.

o Authorized Retailers in sports and electronics stores.

o E-commerce platforms like Amazon. (D’AGOSTINO, 2018)

6. Distribution Strategy:

o Direct sales for higher control and customer relationships.

o Authorized retailers to reach a wider audience.

o E-commerce platforms to tap into online sales. (Chaffey, 2023)

7. Product Availability:
 14

o Initially, available in 500 outlets.

o Trade Promotions: Retailers receive promotional materials and staff training. (Nathan kling, 2012)

8. Product Presentation/Display:

o In-store displays with interactive demos.

o Attractive packaging for online sales.

o Regular product training for store staff. (Bemporat, 2022)

9. Potential Channel Conflicts:

o Online price parity to avoid channel conflicts.

o Consistent communication with retailers to address concerns. (Lee, 2003)

Promotion:

1. Communication Plan:

o SMART Objectives:

 Increase brand awareness by 40% in the first quarter.

 Achieve 10% market share in the first year.

o Key Message: "Epicsync Sportspro Fusion - The Ultimate Sports and Fitness Companion."

o Target Segment: Active individuals aged 18-45 interested in sports and fitness.

2. Budget: $2 million for the first year.

3. Integrated Marketing Communication (IMC) Plan: a. Advertising:

o Message Strategy: Highlight the watch's versatility for sports, fitness, and daily life.

o Execution Style: Lifestyle imagery, athletes using the watch, before-and-after fitness results.

o Media Strategy: Online display ads, social media, sports event sponsorships.
 15

o Engage with fitness influencers and athletes for endorsements.

o Press releases about product features and partnerships.

o Limited-time discounts for early adopters.

o Loyalty program with discounts for repeat purchases.

o Email marketing to the database of interested customers.

o Personalized offers based on user preferences.

o Regular posts showcasing the watch's features and customer testimonials.

o Engage with followers and respond to inquiries.

o Sponsor local and national sports events to increase brand visibility.

o Set up booths at trade shows.

o Create blog content about sports, fitness, and lifestyle topics.

o Share instructional videos on how to use the watch's features.

By implementing this marketing plan, we aim to establish Epicsync Sportspro Fusion Watch as a leading choice for

sports and fitness enthusiasts, while also expanding into the smartwatch market. The strategy takes into

consideration our budget, target audience, and the product's positioning in the market. (Jeromchek, 2022)

Implementation Plan

Market Research and Product Development

 16

Prioritizing the needs of the customers which are relevant to the sports industry, we conducted market

research to see what their requirements in the sports industry are. We have used questionnaires and interviews as

primary data collection methods. Following conversation with athletes, fitness enthusiasts, and corporate staff, we

could determine that we require a device that can regularly monitor their mobility. In addition, this device could

monitor their vital signs and sleep patterns. Smart watches are becoming increasingly popular in the market, and it

has already become a trend. In response to the current demand for smart watches, we created a watch with all the

features that were requested, plus an extra feature that would alert the wearer and their designated emergency

contact as soon as their vital signs deviate from normal. Target audience would be the people aged from 18-45 who

are fitness enthusiasts. After the product is complete, test and refine it again based on feedback from the audience.

Next, complete the quality control inspections and obtain the necessary licenses from the authorities.

(https://www.projectmanager.com, 2023)

Secure Distribution

Considering that our product is connected to the sports industry, it would be advantageous for us to

collaborate with a brand that has stability in the marketplace. We made the decision to collaborate with Nike Brand

for safe distribution as a result. Since Nike is a well-known brand in the market and it is associated with the sports

sector, both items have comparable success. In regard to the distribution, we decided to distribute our product in

the showrooms of The Source, Walmart, and Best Buy. It is necessary to make the distribution plan and sign the

agreement with partners. (https://www.projectmanager.com, 2023)

Marketing Strategy

As for our products marketing strategy, we have implied the traditional four Ps of marketing include

product, people, price, and place. We have analyzed traditional elements surrounding our product. Since we have
 17

already conducted a market reach on first step of implementation plan, we could obtain details in order to develop

our marketing strategy. As for the details we obtained we could determine our marketing mix as below.

Product- Smartwatch

Price- $ 199

Place- Nike Show rooms, The Source, Best Buy, Walmart and online

Promotion- An off on Nike shoes with purchase

Marketing Campaign & Product Launch

After completing all the aforementioned conditions, the next main event is to launch the product on the

market. Prior to the event, it is important to raise awareness of the product among the intended audience. To

generate excitement and expectation, we planned first to develop a website for the watch and promote contents in

social media accounts. As a result, we use sponsored ads to advertise on Google Ads, Facebook, Instagram, and

TikTok before the product is released onto the market. We employed renowned athletes as our product influencer

since the product is associated with the sports industry. Additionally, on a weekly basis, we can supply various

fliers and brochures to our consumers. (https://www.projectmanager.com, 2023)

Sales Promotion

Due to partnership with Nike, every customer who purchases this watch will receive a $10 discount on their

Nike trainers, which will benefit both brands and it will attract more customers to our product. After analyzing the

demand for few weeks, we can come up with a new promotion to increase the sales. Also, introduce loyal customer

plan for customers. (https://www.projectmanager.com, 2023)

Ongoing product development

We will update the watch with new features in response to evolving market demands as it reaches the

maturity stage of the product. (https://www.projectmanager.com, 2023)

 18

GANTT chart

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