Innovator intelligent air conditioner system: marketing plan and pricing strategy
Loading...
Date
2009
Authors
Yee Khim, Ching
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Innovator was founded in 2008 by three Information Technology Technopreneurship
students from Universiti Sains Malaysia. Innovator introduced a product that is able to
improve people' s lifestyle and to help small businesses to save cost in their usage of the
air conditioner. The product offered by Innovator is an Intelligent Air Conditioner
System (ICONS). The ICONS box consists of two motion sensors. a temperature sensor.
and a multi-input controller. The box will be controlled by an Artificial Intelligence
Technology software installed in a personal computer. ICONS is able to switch on the
air conditioner when the two motion sensors detect someone entering a room. It will
also switch off the air conditioner when the last person leaves the room. ICONS is also
able to adjust the air conditioner temperature according to the total number of people in
a room. Home users and small businesses are the targeted market segment for Innovator
with a forecast market size of 522.410 units in 2010. Innovator is getting RM 150,000
startup fund from the management team. Innovator is planning to participate in the
business plan competition organized by MDeC to secure an additional RM150,000 preseed
fund to support the operations of the company. ICONS is targeted to sell at RM350
per unit base on the pricing strategy. The sales projection for the first year is 1,200 units,
for the second year is 2.400 units and for the third year is 4,800 units. In the first three
years, Innovator is projected to have RM2,940,000 in total sales revenue. A research
has been carried out to determine the acceptable price for ICONS. if the selling price
influences the purchase decision. whether e-marketing program is preferable to the
ordinary marketing program and the potential of air conditioner sales is in the increase
for the next six to twelve months. A 22 questions questionnaire was sent out to 150
samples. A total of 109 responded after 3 weeks of sampling. In the analysis it \vas
found that 54% of the respondents selected RM350 as an acceptable selling price for
ICONS. 46% of the respondents agreed that the selling price influence the purchase
decision. 44% answered that e-marketing program is preferable to the ordinary
marketing program. The survey also indicated 57% of home user and 72% of office user
is planning to purchase the air conditioner in the next 6 to 12 months.