Essay:

Essay details:

  • Subject area(s): Marketing
  • Price: Free download
  • Published on: 14th September 2019
  • File format: Text
  • Number of pages: 2

Text preview of this essay:

This page is a preview - download the full version of this essay above.

Pilot Translating Earpiece

Team 3

Abigail Smith

Jasmine Harris Smith

Tiera Henderson

Kaila Anthony

Zoie Miller

November 27, 2017

MKT 280 T/R 3:30

Introduction

In the past we have had to use bulky, slow, and uncomfortable equipment in order to translate electronically, but the Pilot Translating Earpiece is a new product that brings translating and communicating into the 21st century. The earpiece provides customers with a wireless and fast translating device. This product is a necessary measure for a globalized market that requires communication with other cultures. We have examined the many marketing tools it uses in order to show just how much this product is necessary to the future of business and communication. We have studied their marketing strategy and have made a list that shows what they are doing in order to promote, distribute, price, and create their product.

Target Market

The Pilot translates languages in real time, and there are three main markets that will put this product to great use. International businesses, study abroad students, and tourists are the main consumers of this product. For business professionals, this tool will be helpful because it is going to allow individuals that work with international partners or customers to perform their jobs more efficiently and it aids them in their success. The business professionals in this market that will be using these gadgets are most likely college graduates because they are in a position that requires specialties and training. Approximately 75% of the business market are men in upper level management or executive levels of global corporations. The Pilot will be effective oversea and seen as an advantage because it doesn't utilize data (IBM Journal, Staff). The second and third markets are international tourism and study abroad students which large markets all over the world. The Pilot will close language barriers which will allow more integration in foreign cultures and better education about those cultures. If a tourist is truly interested in the culture in the areas they are visiting they will be more likely to purchase this device. They will be upper-middle class with incomes of $100,000 annually, individuals that can afford to take international trips frequently for enjoyment and business related. Study abroad students will be attracted to this product because they will be able to communicate with natives in the countries they're studying in and not feel as isolated. The target audience is multicultural. This device could have the impact to expand tourism amongst multiple nations and encourage many students that studying abroad is not as scary as they may think.

Product

The Pilot Translating Earpiece kit is meant to bridge global communications by building a world without language barriers. When you are sent the product, you receive two wireless earphones (meant to enable a conversation between two people), a battery charger, and instructions to download the accompanying translating app. This product allows customers the ability to speak in up to 15 languages. The languages included with the purchase of the earpiece are French, Italian, Portuguese, Spanish, and English. Waverly Labs also offers a number of other languages available for purchase and these included Arabic, Mandarin Chinese, German, Greek, Hindi, Japanese, Korean, Polish, Russian, Turkish, and more are supposed to be added as the company/product grows. The earpiece is available in three colors: black, red, and white. Since the kit comes with two earpieces, the Pilot earpiece doubles as noise-cancelling earphones. One of the features of the product is that the earpieces have a full day battery life, which is ideal while traveling (Ochoa, 2016).

The system that Waverly Labs has created for the Pilot Translating Earpiece is very unique to its company. We have included a photo that outlines the system from one earpiece to the next. No matter how fabulous the product sounds, there are multiple downsides to the current system that is in place one is that the earpiece only works when two people are using the same set of earpieces and another issue with the earpiece is that you must have a Wi-Fi or data connection in order to use the earpieces as a translating tool; however, despite these differences the Pilot Translating Earpiece does add a lot of value to customers lives. In our opinion, the biggest change they're making is to the business world. With a tool such as an earpiece, professionals will be able to communicate with international partners and customers much more fluidly than in the past (Waverly Labs, 2017).

Pricing

The Pilot Translating Earpiece is currently sold at $249 for their presale price, but once the item starts to ship out, the price will increase to $299 as it gets closer to the release date expected in Winter 2017. There is no precise date for when the price will increase, but the website does mention that their planned shipping date is Fall/Winter 2017 (Waverly Labs, 2017).

Another price component of this product is the additional languages that are made available for purchase within the application. While you can translate the additional languages for free with the application, the fee is for use of these languages within the earpieces. This component will be released once the earpieces are sent to customers.

Their main competitor, The Dash Pro (made by Bragi), is sold for $329 and will be shipped to you within 90 days. In comparison to the Pilot earpiece, Dash Pro is already being sold and worn by customers in over 30 countries (Bragi, 2017).

Place / Method of Distribution

Currently, the Pilot Translating Earpiece is available exclusively on the Waverly Labs' company website, but the Pilot App is sold on Apple's iTunes app store and on Google Play Android Apps. The method of distribution for this product is through online sales and package delivery. In comparison to Google Translate App, the Pilot Translating Earpiece has not done an expansive job of spreading their product and have zero-to-none marketing or advertising online or on Social Media.

Promotions

Waverly Labs utilizes a consumer sales promotion strategy aimed at new customers in order to promote the Pilot Earpiece by offering a $35 discount for all customers who refer the pilot earpiece to a friend; this also attracts brand switchers as well as price buyers who perceive the product as less expensive and readily available than competing products due to their ability to buy the product for less. Along with the consumer sales promotion strategy, Waverly Labs also highlights the benefits of Pilot Earpiece (Bluetooth technology, noise cancellation, ability to translate music as well as conversation, sleek design, and full day battery life) in order to exhibit the product as more valuable than that of the competitors. Ili, a competing product to the Pilot Earpiece also utilizes a consumer sales promotion strategy, that is targeted more towards loyal customers and competitors' customers as opposed to Pilot's promotion strategy. Ili uses a loyalty marketing program as it offers exclusive updates only to customers who have signed up to be on the waitlist by submitting their email addresses; the company also provides pop-up shops that allow potential customers to get a hands-on experience with the product which in turns allows customers to establish a preference to the ili translating stick over competing products. Similarly, iTranslate Voice and Google Translate utilize consumer sales promotion strategies as there are both free versions of the apps that can be downloaded onto a person's cellphone through the app store. However, iTranslate Voice differs in its promotion strategy in that the free version of the app serves as a sample of the full product; it allows customers to experience the efficiency of the product for a certain amount of time and then pushes customers to pay for the full version after the trial period has run out.

Perceptual Map

In the perceptual map, we decided on using price and effectiveness as the two main variables for how the Pilot Translating Earpiece compares to other translating applications or devices. Price plays a significant factor when a person considers investing in a system that has the ability to create ease in communication; therefore, if something has a higher dollar amount then that product should be of immense value and useful. This brings us to having effectiveness of the product as our second variable because although the idea might be technologically advanced, it means nothing and would be a waste of money if it did not deliver as promised. In the map, we compared the Pilot Translating earpiece, the ili Translating stick, the Google Translating App, and the iTranslating Voice because these are the big players in the realm of building bridges through translation and these products offer a variety of translating systems that require either a physical device or a downloadable application.

References

Bragi. (2017). The Dash Pro. Retrieved October 20, 2017, from Bragi website:

https://www.bragi.com/shop/us_en/the-dash-pro.html/?BragiID=IT0001

IBM Journal. (2017). Waverly Labs' Pilot and Hope for Instant Language Translation.

Retrieved November 6, 2017, from IBM Journal website: https://www.ibmjournal.com/internet-of-things/pilot-language-voice-translation

Ochoa, A. (2016, May 25). Meet the Pilot: Smart Earpiece Language Translator. Retrieved

October 25, 2017, from IndieGoGo website:

https://www.indiegogo.com/projects/meet-the-pilot-smart-earpiece-language-translator-headphones-travel#/

Waverly Labs. (2017). Pilot Translating Earpiece. Retrieved October 20, 2017, from Waverly

Labs website: http://www.waverlylabs.com/pilot-translation-kit/

...(download the rest of the essay above)

About this essay:

This essay was submitted to us by a student in order to help you with your studies.

If you use part of this page in your own work, you need to provide a citation, as follows:

Essay Sauce, . Available from:< https://www.essaysauce.com/essays/marketing/2017-11-14-1510695899.php > [Accessed 14.10.19].