1.0 Executive Summary
This five-year business plan for the SecAc product has been developed by its founder as a way to secure a sense of privacy when using modern technology. The common use of computer technology in recent years has opened up new markets for privacy devices when sharing personal computers to prevent access to personal data. The founder has thus come up with a device to prevent access to other people’s devices and avert the leakage and spreading of personal information. The product is a new technological concept and the founder expects it to have a greater-than-anticipated demand. Research shows that SecAc’s target market is PC user who uses their computers for a broad range of official and personal purposes. They constantly need to share different types of content. The company will also update its device based on the customers’ preferences, appeals, and technological changes. Additionally, SecAc will explore opportunities for effective marketing via the use of Facebook, brochures, and posters. The marketing environment is expected to be very receptive to the product. Enthusiastic PC users will discover this product through strong public relations and will frequently buy it. Over the next five years, SecAc can increase its strategies to reach a wider market, offer new products as well as win new customers.
2.0 Company Description
SecAc is a new concept and a majorly unique idea that aims at promoting privacy and security in computer technology. The idea of Secured Access (SecAc) will permit a third party to access specified folders that will be defined by the user. The PC owner will use a command and a personal name for each different public folder. The product will thus prevent outsiders from accessing personal folders. The application is better compared to passwords as it allows access to only one person – the owner – instead of blocking access for everybody except the owner as experienced with the use of passwords. This marketing plan will address the concept in detail, it will explain how the product will be introduced. Additionally, the situation analysis, financial data, projections, organizational structure, implementation, evaluation, and control will be covered.
3.0 Strategic Focus and Plan
SecAc’s aim is to become a leading technology security provider in the US. Facebook marketing activities and brochures, as well as posters, will be offered to the PC users use the internet a lot (Dowling, 2013). SecAc aims to secure personal information so that the users may securely share their PCs with family, friends, and colleagues.
To provide all personal computers with effective and efficient high-level security through affordable and easy-to-use computer applications.
To offer a visionary and cautionary outlook in the world of technology.
a) First, the company’s aim is to ensure 5000 sales in the next twelve months;
b) Use Facebook and online marketing to generate 25 lead client each week;
c) Reach at least 100 people and inform them concerning the application through the distribution of brochures and posters each month;
d) Acquire at least one corporate partner every month;
e) Reach out to 15,000 people and make them learn about the application within a year;
f) Aim for a third of the population buying SecAc to achieve set sales of 5,000 applications per year.
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3.4 Core Competency and Sustainable Competitive Advantage
SecAc seeks to reach out to the customers and make them acquire information about the application. It aims to gain a great number of buyers and attain at least 5,000 sales per year. It hopes to develop more advanced security gadgets in the technology market (Jajodia, 2011). It seeks to achieve a sustainable competitive advantage by providing all PC users with effective and high-quality security for their computers by offering affordable and easy-to-use applications.
SecAc will also inform organizations, students, and marketers about the product with the aim of making some of them purchase it. It hopes to develop an advantage over other similar products by offering high quality and expertise to its customers and employees. It will build on its competencies by effective marketing efforts to increase knowledge about the product and its distribution in different geographical regions (Lanier, 2011). By forming a close relationship with domestic customers, the company believes that it will create an effective competitive advantage.
4.0 Situation Analysis
4.1 SWOT analysis
The marketing environment of SecAc represents overwhelming opportunities. However, it contains specific challenges that the founder should meet successfully. Below is an explanation of the SWOT analysis of SecAc gadgets that highlights their strengths, weaknesses, opportunities, and threats.
• SecAc has a dedicated founder who has an understanding of the target market and product;
• The use of computers is common and has gained popularity in recent years among students, office workers, organizations promoting quick acceptance of the product;
• SecAc is cost-effective and can be accessed easily;
• The product will suit customers’ needs as well as ensure maximum quality and control.
• SecAc’s founder can lose sight of the potential scope of technology development;
• Targeted office workers, students, and organizations have limited budgets;
• SecAc has limited or no cash flow yet.
• SecAc can attract loyal clients from different sectors;
• Security gaps in the market can be filled with the new concept;
• SecAc has a potential for expansion into Europe, the U.S, Asia, Africa, and other fresh markets;
• The founder can reach many consumers via its Internet strategies and the use of Facebook.
• Hacking of the system through cyber-crime is a threat and the founder will need to keep innovating the product constantly;
• Massive competition is a threat. For example, the use of passwords is more popular or other companies may decide to launch a similar product.
Currently, the use of PCs has increased primarily in offices and educational institutions. Computer users need to have some sense of privacy. Technology has created a new market for privacy products. SecAc prevents access to other people’s devices leading to the unwanted leakage of personal information.
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4.3 Competitor Analysis
Currently, there are no major competitors in the industry. Privacy products have not yet been introduced into the market. Passwords have been applied for a long time but have not managed to prevent the leakage of personal data. As a matter of fact, passwords can easily be hacked or accessed by cybercriminals (McKeever, 2015). SecAc, therefore, presents a unique security opportunity in the industry that has barely been ventured.
4.4 Customer Analysis
SecAc focuses on broad market segments that include young people, students, office workers, and organizations who often share information through their PCs (Hatten & Hatten, 2012). SecAc focuses on technology-minded customers who wish to safeguard personal information. SecAc reflects a passion for internet use. Currently, SecAc’s concept focuses on local consumers and particularly those aged 15 to 45, who have in the past three years been comprising the largest group of internet users. In turn, SecAc will expand its capabilities and work on ensuring that the revenue increases every year.
5.0 Market-Product Focus
5.1 Marketing and Product Objectives
The company’s target market is filled with PC users who require security systems on their PCs to maintain their privacy, especially when they have given out their personal information to other users. SecAc mainly targets young people who are active users of the internet and often share their PCs with other individuals. The first target group will be students. Office users will be the second target market as they may have files they wish to secure. Organizations will hence be another important target for the company. The fourth target group consists of people who engage in secret businesses. Such people include online traders and marketers. These individuals will need to protect some files from the public while maintaining their social profiles. The targeting will also be based on different personal characteristics of the users, including gender, economic and social status.
SecAc will be positioned in a manner that will make it easy to use and therefore entice customers with its user-friendliness. This attribute will occupy consumers’ minds and thus produce positive word of mouth. SecAc will be positioned above other competitors thus giving it an advantage over other security applications in the market.
5.3 Product Differentiation
SecAc will be positioned as the device that it is essential and offers adequate security to all PC users. The product will be different from others in the market based on its visual and service attributes. Unlike passwords that have commonly been used in the past, SecAc will not permit unauthorized people to venture into other people’s gadgets and gain access to their personal information (Dowling, 2013). This important, distinctive, superior, and affordable difference will be used for the promotion of the product.
6.0 Marketing Program
6.1 Product Specification
SecAc is expected to follow a standard trend of product life-cycle stages. Consequently, the focus is limited to the first five years since its introduction with a 30% revenue increase each year. Currently, it is expected that the company will be only somewhat popular as the service will be at its introductory stage. Growth is expected in the second year after effective Facebook, brochure, and poster marketing. By the fourth year, it is anticipated that it will reach maturity and the founder will use other promotion methods such as local radio channels, websites, magazines, and other media to ensure a rapid increase in the number of subscribers. By the fifth year, the growth curve is expected to decline slowly as the new product development will be needed to make sure that the idea keeps earning income.
SecAc’s founder focuses on ensuring the production cost in the first five years is as low as possible. Production costs will involve the overall operating expenses and the activities related to direct costs like labor and utilities (Dowling, 2013). For direct labor, the recurring costs can be made lower by employing a third of staff on a full-time employment basis and the two-thirds on a part-time basis. The facility maintenance costs will be minimal after the initial deployment.
The pricing strategy is considered a core part of marketing and SecAc will be priced based on the competitors’ prices. SecAc does not hope for a high-profit margin as a signal of prestige or luxury and at the same time does not attempt to achieve its goals by setting low prices to attract more customers. Instead, value pricing will be practiced for the clients to feel comfortable purchasing this security application.
6.3 Promotion Strategy
SecAc will use sales promotion, online marketing, brochures, and posters in its marketing mix. Through the product strategy, high-quality security apps will be offered for users. The promotion strategy will change depending on the life cycle stage.
6.4 Distribution Strategy
The distribution strategy will be built by starting to market SecAc through Facebook. This will enable us to reach different customers scattered across the nation. So far, SecAc’s marketing will only focus on the national distribution to ensure that the information about the product is well-spread. Over the next two years, SecAc will seek expanded international distribution. Additionally, it will embark on online distribution via the Internet.
7.0 Financial Data and Projections
7.1 Past Sales and Revenues
SecAc’s management has set a personal sales and revenue budget to show its financial commitments. It sets expenses for each year to get the total amount of money required for the business to operate (Burkus, 2016). In turn, it helps to make the business more efficient and seek for ways to increase financing in order to enhance the business’s long-term sustainable survival.
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8.0 Company Structure
The SecAc Company is owned by one person who is the Chief Executive Officer. He is the overall decision-maker. The structure of the company moves down to include a general manager who addresses the daily business operations and coordinates all the other departments. Below there is a general manager who leads the team consisting of the sales and marketing managers as well as a chief financial officer. Underneath, there are online marketers who are also in charge of all forms of marketing. The chief financial officer is responsible for revenue collection and resource distribution within the company.
SecAc is a newly established product that offers security documents browsing and storage to all PC users. With increased demand for safety in the computer industry, the company’s management team has been committed to fostering the growth of its market share and reducing the lack of the needed security in the technology sector. Innovation has promoted advanced exploration and development of its operations. In addition, improved technology will help the further development and marketing of the application.
10.0 Evaluation and Control
The five-year project will make use of the management expertise to ensure that its plans are completed as expected as well as align with the scheduled costs. The project manager has to be committed to following the highest standards of practice. Team responsibility will be encouraged and the requirements of quality will be upheld.