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Develop idea and marketing plan for a new wearable device

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Reference no: EM133259300

Strategic Marketing Report: Develop an idea and a marketing plan for a new wearable device 

Covid-19 has brought about many lifestyle changes for consumers. Every crisis also brings opportunities. In this exercise we ask you to come up with an idea for a new wearable device (i.e. smart watch) and to develop a strategic marketing plan for this product. Specific guidelines will be given during the class sessions and a suggested framework will be available on Blackboard. 

My Group have came out with a Navigation wearable (Naviaid) which is similar to Google glasses.

(Target: People with poor navigation skills. Navigation for blind people)

Now i have to cover Sales & revenue forecast for the Naviaid based on below points : 

Pricing (The 3C's impact pricing) 

- Company Cost 

- Customers' sense of product's value 

- Competition's price 

-Measurable Marketing Outcomes 

- Market Share (Unit market share, revenue market share, relative market share) 

- Mark-up and Margin (Mark-up : adda % to costs in order to calculate the selling prices. 

- Margin (%) = (total sales revenue - total Cost / total sales revenue) 

Need your help to give me a sample similar to naviaid and graph / table to draft a sales and revenue forecast. 

Reference no: EM133259300

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