Marrketing_Plan

Executive Summary Precision Dynamics Corporation (PDC) has accumulated over 50 years of experience, and become a global leader in automated wristband identification systems; they have done this through innovation and have developed their product line through this strategy. When the company’s co-founders started the business, they started out with only a single-piece wristband, with no parts or tools necessary. From the first moment this company was founded they strived to create and access markets that would allow the company to succeed in a completive market. Precision Dynamics Corporation's mission is to be the leading and innovative manufacturer and supplier of identification management products worldwide. We will accomplish the mission by providing quality products and services to our customers, as well as a fulfilling work environment for our employees. We will achieve this mission by following our vision of delivering the most revolutionary and reliable wristband identification solutions every day and everywhere around the world. We at Precision Dynamics Corporation are both a production company and a wholesaler of both Radio Frequency Identification (RFID) chips and RFID wristbands (SmartBands). We have been actively involved in distributing our RFID products to healthcare facilities, law enforcement and patron management since 2000. Recently we have approached Great Wolf Lodge Water Parks and Resorts with our SmartBand technology in order to provide them with a better method of patron management. Currently we are in the process of establishing a deal with Walt Disney Corporation in order to have our SmartBands become a part of the Disney experience. We have approached Disney with our plans to implement our RFID technology within their resorts and theme parks so that we may obtain a greater share of the market when it comes to the use of RFID technology within the hospitality industry. Right now our main competitors are Proximities Inc., Zebra Technologies, and AeroScout Inc. Each of these companies produces RFID chips but currently is not marketing their products to the hospitality industry. This is where we hope to dominate the market when it comes to providing these goods. Once we establish a deal with Disney to provide them with these SmartBands and then eliminate their current system, we will then have access to all the Disney resorts and theme parks globally. With this alliance we will set the precedent within RFID technologies, we will then be able to access other markets within the hospitality industry creating an even greater name for ourselves and making our product synonymous with patron management. We have addressed how our product can be used within the hospitality industry; this product is a wristband that will help to improve the efficiency of the current systems, tracking, and communication while preventing data entry and collection errors. This new standard of efficiency will directly correlate with the profitability and guest satisfaction within the hospitality industry. By targeting the theme park giants, such as Walt Disney, we at PDC will be providing a distinct advantage over their competitors. These theme parks will see an increase in both retail sales through impulse buying, visitors to the park due to the worry-free atmosphere crated by the wrist band system. The primary features of this product will be attractive because of the secure nature, unlike debit cards, SmartBand in non-transferable preventing scalping and unauthorized access. It operates like an electronic wallet which provides convenient cashless point of sale. Our distribution strategy will incorporate a strong global stance, as is taken by PDC, and consumers can purchase PDC products directly via telephone or online, or indirectly through distributors, system integrators, and group purchasing organizations. Resellers purchase the RFID technology and market the technology to sell on their own. Through our promotional strategy it will demonstrate to our potential investors our ability to not only increase profits but to also increase their customer base and satisfaction. This leads into our packaging strategy, what has been chosen for these RFID wristbands is to offer the customer choices, by customizing these bands it will not only allow customers to feel that their visit is specifically designed for them but it will also encourage repeat visits. In order to achieve this ability of customization, we are offering volume discounts on large orders of wristbands and also implementing a recycling program that will allow Disney and future companies to receive an additional discount on wristbands/chips. By dealing directly with clients we avoid any middleman thereby reducing markups and providing clients with fair prices. By doing so, this will allow other companies to implement and use our product knowing that they will be saving in the long run. With our unique strategies and approaches to patron management, we have not only exceeded expectations but have also proven the profitability of this system through the implementation at one of North America’s largest water park resorts (Great Wolf Lodge). Investors will be comforted in knowing that their money is being well spent and managed in an ever growing technology and trend within the hospitality industry. By choosing PDC’s SmartBand, not only will you be receiving top of the line products but also high quality service and a reputation of being one of the first to take part in a new global trend. Company Description PDC has accumulated over 50 years of experience, and become a global leader in automated wristband identification systems. For PDC, innovation has fueled their product line. When the company’s co-founders started the business, they started out with only a single-piece wristband, with no parts or tools necessary. This was targeted towards the healthcare market and hospitals worldwide. Due to this first mover strategy, PDC now provides more wristbands to the healthcare market than all of its competitors combined. In 1972, PDC made a strategic move and expanded its product line to address the crowd control needs of entertainment and recreational markets. They did this with their visa bands, which are now used at some of the world’s top venues, including the super bowl, summer Olympics and Wimbledon . In 1976, PDC became the first company to provide inmate ID solutions for law enforcement and correctional facilities. This allowed them to target another market that had previously been untapped. Their wristbands allowed these facilities to better identify and track inmate populations. The company again improved their product lines, through their bar code wristband systems, which was targeted towards the healthcare industry while minimizing medical error, and maximizing efficiency of medical staff. However, it was after the bar code system that PDC really began to revolutionize their industry with RFID technology. With this microchip implanted into the wristbands, PDC's RFID scanners were able to provide more accuracy, security, and efficiency than ever before. It was this innovation that presented PDC with the opportunity to begin targeting the hospitality industry. By entering into the cashless, wireless, point of sales market, PDC showed their stakeholders that they were serious about providing a larger market of recreational facilities with identification, payment, and security solutions. PDC targets a variety of markets including healthcare, law enforcement, and patron management. Due to its variety of customers, PDC also has had to produce a variety of products that will appeal to each target market. The breadth of PDC's products is very large, and one of the reasons is because of its global partnerships. PDC, based in California, USA, has expanded to work with over 100 countries, while creating strategic business units in their European headquarters in Brussels, Belgium through the acquisition of one of their long-time distributors MFR Europe . They have also partnered up with Hewlett-Packard Asia Pacific to help implement their RFID solutions in the Asia Pacific healthcare market. It is through these multiple headquarters that PDC has been able to maintain a horizontal structure to its business. This will allow for quicker communication and a more efficient decision-making process. Each strategic business unit has been able to target a different industry, bases on its market demand. For instance, our division in Asia Pacific is more so inclined to targeting the healthcare industry because of the growing demand for health services. The primary sectors of PDC being hospitality and healthcare patron management, their divisional profits are currently on par. PDC is working toward increasing profits in both divisions, not specifically one over the other. But with Disney as a strategic alliance it is anticipated that with such a proponent advocating our product with a positive influence on other amusement companies, our company will further refine the precedent of RFID technology, resulting in a significant increase in the market-share for patron management within the company, this projected market-share increase will be presented further in the plan. Precision Dynamics Visions, Missions, and Goals Mission: Precision Dynamics Corporation's mission is to be the leading and innovative manufacturer and supplier of identification management products worldwide. We will accomplish the mission by providing quality products and services to our customers, as well as a fulfilling work environment for our employees.