Introduction
This assignment is presenting a product called CareWatch, which is a special watch that can help you feel safer in your daily life. Below is stated how the logo looks like, who the target group is, how the product is different from others and how the product would be marketed towards potential customers.
Brand position statement
“To people who want to feel safe and keep track of their vital parameters, by using the user-friendly CareWatch with unique abilities.“
Logo
The logo is chosen since it is presenting a heart, which symbolizes that the product is relevant for people who want to take care of their health. The colors red and blue are chosen as they show that the watch is relevant for both genders.
The red color symbolizes that the product is dealing with warm and positive feelings where the focus is on physical needs and the willing to survive[1]. The color blue is symbolizing that the product can work as a helper or a kind of rescuer and supporting strong trusting relationship[2].
Description of the brand
1) Who is the target for brand use?
The product is targeted to both genders in almost all kind of ages; some people will be too young for using the product.
When that is said, the product is most relevant for elderly people as they most often deal with challenges regarding their health. The disease analysis and functions can help you keep track of diabetes and remind you when you have to take a dose, or if you want to track your blood pressure or heartbeat. However, the product can also be relevant for younger healthy people, who just want to feel safe and track the status of their bodies.
2) Why should the brand be considered (i.e., to what category does the brand belong and what goal does it allow the target to achieve)?
People should consider using the CareWatch brand, because they can be conscious of their healthy. The product has an emergency function, so you never have to worry about whether something bad can happen.
Furthermore, it seems that the popularity of tracking your body status is rising in relation to an article from the New York Times[3]. The article is more than 1½ year old, but the popularity of tracking bodily functions is probably still at least as popular as when the article was written.
Likewise, when looking at the picture below which is data based on a statistic from diabetes.org[4] then it is showed that the evolution of diabetes will continue increasing in the future. The CareWatch is not only useful for people with diabetes, but the picture is still presenting a potential need for a lot of people in the future.
3) Why should the brand be chosen over other alternatives in the competitive set?
The CareWatch is a unique product and you cannot find a product which can do the same for you. CareWatch is related to your doctor and other relevant people, for example your family, and they can therefore watch your data and health situation.
For the future, there might be competitors as for example the Apple Watch, but if that is going to happen, there will still be a lot of benefits in choosing the CareWatch. We have more information about the market and the customers, as we were first movers with this kind of product.
Moreover, the price of the product is also good because the product is going to be supported by either your insurance company or the state of your country, because they will like to pay a part of the price. The insurance company or state can save money, if you are using the product.
4) How will choosing the brand help the target number accomplish their goal(s)?
The product is more than a watch. It is a combination of a traditional watch, a health tracker and the opportunity for emergency functions. The product is therefore satisfying a unique combination of common goals in a very easy way.
Type of brand
The brand is a functional one because it is satisfying a need and the quality and price are good. According to the book, a functional brand is:
“Functional brands connect with consumers by helping them achieve basic goals related to physical needs, such as the need for food, shelter, health or safety.”[5]
The last two important words, health and safety, are exactly what the product is about and it is therefore a functional brand. The brand is meant to be a thing you cannot live without, as anyone want to feel safe and relaxed in their daily life.
Marketing strategy
The marketing will primarily be targeted elderly people, as this age group will likely represent the largest percentage of product sales. Because of this, we will make advertisements in media which are used by this group of people, for example, TV-programs, radio channels and newspapers.
Moreover, we will also use famous old people who are respected and liked by the common people. The celebrities will appear with the product, which hopefully will attract more customers, because the famous people are a symbol of product quality.
The product should also be linked with hospitals, pharmacies and insurance companies. It should be possible to buy the product at your doctor because he or she can help by showing how to use the product, which also is the case for the hospitals and pharmacies.
Lastly, it should also be possible to buy the product in electronic-markets and online through a web shop. The reason for this choice is that it probably will be more comfortable for younger people to buy the product in this way.
[1] – http://www.empower-yourself-with-color-psychology.com/color-red.html
[2] – http://www.empower-yourself-with-color-psychology.com/color-blue.html
[5] – Calder, T., Kellogg on Marketing, John Wiley & Sons, Inc., 2010, 2nd edition, page 121.
HYDE STREET JOURNAL 