Acct505 - Course Project a

Yale’s Keyless Entry with Near Field Communication

MKTG 522: Marketing Management

Professor Thomas Molfetto

June 16, 2013

Table of Contents

I. Executive Summary3

II. Situation Analysis4

a. Market Summary8

b. SWOT Analysis9

c. Competition11

d. Product Offering12

e. Keys to Success13

f. Critical Issues13

III. Marketing Strategy14

g. Mission15

h. Marketing Objectives15

i. Financial Objectives15

j. Target Markets16

k. Positioning17

l. Strategies17

m. Marketing Mix18

n. Marketing Research21

IV. Controls

o. Implementation23

p. Marketing Organization24

q. Contingency Plan26

V. Conclusion27

VI. References28

Executive Summary

Near-field communication (NFC) is a combination of software and hardware standards. NFC-enabled devices can communicate with each other by touching them together. This can enhance people’s lives by becoming a keyless entry solution. Yale can provide NFC-enabled locks in order to accomplish this.

Homeowners’ from 25-35 years of age is the ideal target market for such a product. This is because as members of Generation Y, they are the most tech savvy of all generations. This means that they would be more open to NFC technology and its benefits than any other generation, such as convenience and peace of mind. This demographic is also the only one that can afford NFC-enabled locks due to its high price and needing to own property in order to legally change their door locks.

Situation Analysis

Near Field Communication (NFC) technology has a broader range of options for smartphones consumers. One of the benefits is to use your cell phone for keyless entry. According to “Hotel guests can now” (2010), when your phone is used to open or close a door, it must be equipped with NFC, which has a short range wireless standard to exchange data between devices. For example, hotel guests can now book a room,...