Tag line:
Monitronics is the Clear Choice for Home Security and Alarm Monitoring.
Table of contents :
1. Executive summary.
2. Vision and Mission.
3. Introduction of Product.
4. Objectives.
5. Situation Analysis.
6. SWOT Analysis.
7. Pest Analysis.
8. Marketing Strategy.
9. Marketing Mix.
10. Target Market.
11. Budget.
12. Conclusion.
1: Executive Summary. This report explains the marketing plan for launching a new company in the market by the name " Monitronics Security
". In the very beginning we have explained the mission and vision of the company and then we have further carried out our activities to achieve our goals & objectives. It will be introduced in the market with help of various promotional displays, advertisements and sample displaying. The report examines that this product is initially launching in whole Pakistan. The study includes both primary and secondary research. The primary study focused on the competitors and liking and disliking of people . Through this strategy company can penetrate more into the market and can attract the bulk of customers. For this purpose we have conducted SWAT to see the company’s strength, weaknesses, opportunities and threats. Then we have explained the purpose benefits and objectives for our company and then we have made marketing strategies for our company. We cannot divide the market into age category or gender because the products have no age barrier or gender discrimination. Special attention to packaging, colour and price of product has been paid. We have decided to first launch some products in Punjab to see the customer feed back. Electronic media will be used as well as print media, cable and outdoor services to promote the product. A market survey shall also be conducted in the future to know opinion of public about our product so that further changes can be made and to improvise because there is scope of improvement in almost every thing.
2: Mission and vision Statement.
Vision.
Program your thermostat for every day of the week directly from your wall-mounted control panel or by using our home automation app on your mobile device or computer. Save money while you do it!
Mission.
The best offense is a good defense. Take control of your home security with 24/7 monitoring.
3: INTRODUCTION
Monitronics Security is a marketing idea that deals as security team products. Our products are numerous in simple and not a trouble maker. Monitronics Security are not a common thing in any house hold rich or poor. The important thing is that there will be imoprtant for you . If you could see into the future, protecting your property and your loved ones would be easy. You’d know if a burglar was on the way, or if you were going to have a fire or carbon monoxide leak. When it was your turn to be victimized, you’d do whatever was necessary.
The problem, of course, is that there’s no way to tell the future. But numbers don’t lie: A burglary occurs in the United States every 15 seconds on average. A residential structure fire is reported approximately every 90 seconds. No matter where you live, it’s impossible to know when you could be victimized by a menacing burglar or a raging house fire. That’s why it’s important to have a home security system as an effective layer of security, 24 hours a day.
4: OBJECTIVES
There are many objectives to be overcome and aims to be achieved
• First objective is to heavily Promote the company as we have new offerings and to capture the security market with low prices .
• To achieve maximum efficiency by utilizing waste material to make something save that is important for them into a way as it is stated in the company name .
• Achieve growth in sales by feedback .
• Create a good image for the company.
• Delivering good quality at a fair price.
5: Situation Analysis
Target Market Summary.
Your protection is our priority.
As the nation’s second-largest residential security provider, we deliver award-winning alarm monitoring service to over 1 million homes and businesses 24 hours a day, 365 days a year.
Our Five Diamond Certified Alarm Response Center provides reliable and uninterrupted security monitoring for burglary, fire, carbon monoxide, and medical emergencies. We consistently meet or exceed all UL, National Fire Protection Association, and Central Station Alarm Association standards.
• Market Needs.
Emergencies can happen at any time, and response makes all the difference between safety and tragedy. Effective home security and award-winning alarm monitoring from Monitronics can send help quickly if necessary. That’s why more than 1 million customers trust us for their security.
• Market Trends..
A subsidiary of Ascent Capital Group, Inc., Monitronics is one of the nation’s largest and fastest-growing home security alarm monitoring companies. Monitronics’ 24/7 Alarm Response Center provides reliable and uninterrupted security monitoring service while consistently meeting or exceeding all UL, National Fire Protection Association and Central Station Alarm Association standards. Monitronics most recently received the Frost & Sullivan award as 2014 Company of the Year in the North American Residential Services Industry. It was the company’s fifth Frost & Sullivan award (2008, 2010, 2011 and 2013).
• Market Growth.
Emergencies can happen at any time, and response makes all the difference between safety and tragedy. Effective home security and award-winning alarm monitoring from Monitronics can send help quickly if necessary. That’s why more than 1 million customers trust us for their security.
• 6: SWOT Analysis.
How to Put Out Different Types of Fires
A fire in the home can create a level of panic that is unmatched by virtually any other event. Unfortunately, what starts out as a very small fire can quickly become an inferno that can cause serious injury and death. It’s important to understand that trying to fight a small fire on your own could actually make the problem worse if it’s not done correctly. We want to help you be safe by explaining how to put out different types of fires.
Before we get to firefighting techniques, remember that it’s never wise to put yourself in danger just to put out a fire. Your home and possessions can be replaced; you cannot. If a fire in your home causes you to feel threatened – whether or not you can fight the fire by yourself – protect yourself by calling 15.
Cooking Fires
Next to fires caused by careless smoking, cooking fires are the second most common in the United States. These kinds of fires can occur in the oven or on top of the stove. Here’s what you need to know:
• Grease Fires – Since grease and water do not mix, grease fires will only be made worse by throwing water on them. Instead, turn off the oven or burner and smother the flames with something such as baking soda or salt. You can also attempt to cover the first with a lid to smother its source of oxygen. Never attempt to move a pan or pot with grease in it.
• Oven Fires – Fires inside the oven usually occur when food ignites or grease drips onto the heating elements. Turn the oven off and then smother the flames with baking soda or salt. Immediately close the oven door to cut off the air supply.
The best way to avoid cooking fires is to make sure you keep your oven and stovetop clean. Wipe down all surfaces and heating elements with a degreaser after every use. When cooking in the oven, use a drip pan underneath meats with excess fat. It is always a good idea to have a small Type B dry chemical fire extinguisher in the kitchen as well.
Electrical Fires
Electrical fires can be caused by overloaded sockets, frayed wires, or equipment malfunction. As with grease fires, do not attempt to put out an electrical fire using water. Water conducts electricity, exposing you to the risk of electrical shock.
To put out an electrical fire, unplug the device if possible. Then smother the flames using a blanket or piece of heavy clothing. If you have a fire extinguisher in the house, it offers you another option.
As with kitchen fires, it’s easier to stop electrical fires before they get started. Routinely check cords for fraying or breaks. Also, avoid using extension cords for anything other than temporary power.
Storage Area Fires
A fire in a storage area can be caused by any number of things. For example, oil soaked rags can easily combust if exposed to even the smallest of sparks. Other causes can include improperly stored gasoline, charcoal lighter fluid, and household solvents.
Type B fire extinguishers are your best bet for putting out fires related to petroleum products and solvents. Type A fire extinguishers work well for paper and similar items. In the absence of a fire extinguisher, smother the flames with a blanket or a heavy piece of clothing.
Natural Gas Fires
The most dangerous source of a house fire is natural gas. Turn off the gas supply and call the fire department immediately. If you cannot get to the shutoff, try to smother the flames with a heavy carpet or blanket. Even if you are successful in putting out the flames however, exit the home immediately. Leaking gas always poses a risk of explosion.
Chimney Fires
Any home with a fireplace or wood-burning stove can be susceptible to chimney fires caused by creosote buildup. Once a fire erupts in the chimney, it is already too late to fight it on your own. Get out of the house and call 911. Do not attempt to go up on your roof and douse the flames with a garden hose. Chimney fires can grow very quickly to engulf the entire structure.
A fire in your home is likely to be a major crisis, but you can reduce the chances of injury and property loss by installing from Monitronics. We would welcome the chance to tell you more about how to make your home safer in the event of a fire.
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• 7:PEST Analysis.
Political Analysis.
Taxation Law.
If the government imposes heavy taxes on the industry then it badly effects the industry growth. The taxes imposed are from the government side and vary industry to industry .
• Labor laws.
Labor is being privileged here having all the laws . Monitronics also follows these laws such as government announced minimum salary of an employ RS:10,000.
• Economic Analysis.
• Inflation rate.
Now in Pakistan inflation rate in 15.7% so if there is further increase in inflation then there would be increase in product prices.
Economic growth rate
• Economic growth rate acceleration is 7%.
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• Social Factor
Consumer friendly.
The product should be consumer friendly as it should not hurt a consumer upon use in our case rough edges , rough glass , pungent paint etc should not be overlooked.
• Technological analysis
• Pakistan is considered as a developing country Although it is nuclear power yet it lacks behind in other technologies. Now it has made good progress in digital revolution but still has to import heavy machinery from developed countries.
• 8: Marketing Strategy.
• Positioning strategy
Brand strategy is at the heart of marketing strategy .It is the act of design the company offers and image so that it occupies a distinct and valued place in the target customers mind. Monitronics security is the new fashion trend and we are launching the products in beautiful serving and additionally home delivery packaging so we want to create a long lasting ad positive image of the company in the mind of the customers.
• Pricing Strategy.
The price of the product influences the buying behavior of the customer / consumer because in Pakistan there are different level of classes based singly on income difference so price is a very important factor , some of the customers can afford the price and others cant so we must set such a price that is affordable for all or create a wide range of low and normal priced products to create ease of buying among less paying customers.
• Marketing Mix.
Product
Core Benefit:
Core benefit means the services and benefit the customer is actually buying . Our customers can Monitronics security their house by buying our product and get side by side daily use from the security.
• Basic product
• This means the actual product being made. Our signature product is a Monitronics security.
• Following things are included in sale of product.
• Features.
The features of the Monitronics security are
1. Keep Flammables Away from Heating Sources
Anything that can burn should be kept at least 3 feet away from all heating sources. Be especially careful with highly flammable items – including fuel storage containers when using a fuel-based portable heater. In addition, create a 3-foot buffer zone which kids are not allowed to enter. This will reduce the chances of them inadvertently carrying something that could burn too close to your heating equipment.
2. Installation of Heating Equipment – Use Professionals
When installing new heating equipment – such as furnaces or wood-burning stoves – be sure to use professionals who can complete the installation according to local codes. DIY projects save money, but heating equipment is one area that should be left to trained and certified professionals. Also, be aware that a DIY installation can jeopardize your homeowner’s insurance if your installation is not inspected and approved.
3. Have Equipment Inspected Regularly
Regardless of the heating equipment you use to stay warm, it should regularly be inspected by qualified personnel. Gas- and oil-fired furnaces should be checked on an annual basis for both fire and carbon monoxide potential. Trained repair professionals should examine portable heaters. Chimneys need to be inspected and cleaned annually if you burn wood or other similar fuels, since creosote buildup in a chimney can easily start a fire.
4. Use Screens for Fireplaces
If you use a fireplace or open wood-burning stove, be sure that a sturdy screen protects the opening. Screens are not just to keep hands out; they also prevent sparks from flying into the room and starting a fire. Under the right conditions, sparks and embers from a fire can travel up to a mile; they can quickly make it across a room if there is no screen in place.
5. Turn Off Portable Heaters
Portable heaters, regardless of what powers them, should never be used if there is no one around to attend to them. Electric portable heaters can easily overheat and spark fires at the electrical outlet, while kerosene and propane heaters deal with highly flammable liquids. If you use portable heaters to keep warm, turn them off when you are not home. Turn them off when you are sleeping as well. Better to throw a few extra blankets on the bed than to awake in the middle of the night surrounded by flames.
You Can Save a Lot
A lot of companies claim big savings through the use of programmable thermostats and home automation. The amount depends on how far you set your thermostat back and for how long, but as a general rule, the security compines says consumers save about 1 percent for every degree of change over an eight-hour period.
That means that if you reduced your heating by 5 degrees during the nine hours you are away for work, you would save just over 5 percent on heating costs that day. Savings on cooling are slightly higher. Either way, the farther you set your thermostat back, and the longer you keep it set back, the more money you save.
Promotion
The promotion of the product i.e. advertisements sales, promotions and other promotional tools can change the buying behavior because some of the individuals highly influenced by the advertisement. We have decided to use integrated marketing communication in which, there will be blend of different marketing promotional tools that will convey clear and consistent message of our product to the customers . These promotional tools are given below
• News paper.
Newspaper has the widest readership and circulation among our targeted market; these would carry most of the advertisements for the publication media . Also the print adds will be published in other much read news papers .
• Television.
Tele commercials will be aired on sports and news channels as the viewer ship of these channels is common in households.
Promotional Vans.
Promotional Vans will be deployed on public places which would advertise with sample products.
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• 10: Target Market .
• Although our products have no age barrier or gender discrimination still youth or Security concious peoples are our main targets because women are usually responsible for buying such house Security concious and the youth can be impressed with innovation.
• 11: Budget
We are going to prepare marketing plan of Monitronics Security we are going to establish new business in Pakistan. We made a budgeting plan for our business. We have a budget of 500 lacs. Now we allocate our budget in different parts.
• Method of Allocation
creating an annual budget involves 250 lacs on building & plant and other budget we will use in following manner
• Conclusion
Monitronics Security is a unique company , one of a kind . The specialty of our products is that they serve as a security concious well as fulfill utility use for daily life that is they have. In short we are providing we are launching a whole new ways.
