Part I: New Product Development and Rationale

The key benefit of developing the babysitters/nannies online and Sitter Babysitting App is to gain the profit. For matching the nannies with family, the company completes the applications. The application reviews involve every aspect related to home life that can impact on the placement of nanny. It involves responsibilities and duties, living conditions, personalities, benefits, general health of children, ages and behavior of children, any special needs, and more. People can review the skills and work history and interview with nannies to determine the interests and temperament and types of employment that they can discover ideal. This procedure permits a company to make a placement that is best for both nannies and the family and one that could be long-lasting (Nannies Inc., 2018). In the rare instance, while something does not work out, the company are there to help the family.

This app will be beneficial for every childcare needs such as part-time sitter and a full-time nanny, backup childcare, last-minute sitters, occasional babysitters, and day-night babysitters. This app would focus on searching or post a job for free, book and pay sitters with ease, sitters keep 100% of agreed on rate, flexible pricing strategy to contact nannies and sitters, and never worry regarding childcare again (Urbansitter., 2018).

The mission of Babysitters / Nannies online and Sitter Babysitting App is to develop the application for hiring nannies and influences the high amount of customers for using the services of the company in long-standing.

Babysitters / Nannies online and Sitter Babysitting can face high bargaining power in Australia because of availability of the same products and services. It can gain the chances of switching cost of purchasers in long-standing (Lovelock, and Patterson, 2015).

The bargaining power of suppliers is lower because of the existence of different substitutes at the marketplace. Hence, suppliers should focus on the customers by creating a favorable image and makes a good relationship with suppliers to negotiate on products and services (Belanger, and Bredesen, 2018).

The nannies industry is costly hence; entrepreneurs will not invest in such type of business. It demonstrates that Babysitters / Nannies online and Sitter Babysitting have a low threat from new entrants because of high bargaining cost (Seraphin, et. al., 2016).

There is quite threat from substitute product that could be beneficial for a company to effectively deals in the Cyprus market.

There is higher competition between existing competitors, hence, it can be stated that a company can face issue to compete with the current competitor and creates a favorable image at the marketplace (Huotari, and Hamari, 2017).

The following table demonstrates the PESTLE analyses:

• To increase customer demand by using marketing initiativesby 25% within the next 12 months
• To gain market share by using digital technologyby 35% within the next 6 months
• To increase the revenue  by using effective strategy by 25% within the next 9 month

For this application, Babysitters / Nannies online and Sitter Babysitting will make segmentation as per the demographic factor. In such manner, they will select to working families for selling their services. In addition, both will segment as per the demographic factor. Moreover, it would segment as per the income level where they choose high-income level families. Furthermore, it will classify the customers as per their social status where the upper class of people would be selected (Chaston, 2014).

Part II: Strategy, budget, implementation, and controls

It would use undifferentiated targeting marketing approach where Babysitters / Nannies online and Sitter Babysitting will use same marketing mix for their targeted customers like families with upper class with high income (Barnett, Keeling, and Gruber, 2015).

Babysitters / Nannies online and urban sitter can create a favorable image in the mind of the customer by using the influencing tagline like “We value safety and transparency above all”.

                                                 (Sources: Barnett, Keeling, and Gruber, 2015).

The cost-leadership can be an effective strategy for Babysitters / Nannies online and urban sitter that is proficient to continuously reduce the expenditure of performing the business. In such manner, it can generate maximum profit margin by providing the industry average prices rather than using the low-cost foundation. It would aid to increase the market share of the company (Chaston, 2014).

The key intention of implementing this strategy is to assess the customer’s need, designs and develops the quality of products and services that match with the requirement of markets. There are certain strategies for using a differentiated approach like unique features, quality of products and environmental accountabilities and influential services (Grönroos, 2016).

This focused approach can be beneficial for Babysitters / Nannies online and urban sitter in terms of penetrating into the Cyprus country. The company can execute this approach because it has sufficient resources to engage in marketing practices. This focus can depend on cost or differentiation. The intention of implementing this strategy is to sustain in the Cyprus market (Conaway, and Garay, 2014).

Under this strategy, Babysitters / Nannies online and urban sitter can promote the best choice of nannies services by hiring the educated workforces. This could be beneficial for persuading the business class customers. This strategy could enable the Babysitters / Nannies online and urban sitter to create strong loyalty due to a particular focus on the requirement of a specific set of consumers (Rust, and Huang, 2014).

Babysitters / Nannies online and the urban sitter will develop the App with the unique design. It would involve nannies services and kids care. They will also provide 24*7 hours services. This product would be endorsed by popular celebrities of Cyprus (Huotari, and Hamari, 2017).

Babysitters / Nannies online and the urban sitter will use premium pricing strategies due to quality services. It is a premium brand as the positioning of this brand would be high. Hence, it will charge a high rate due to offering the finest services (Zeng and Honig, 2016).

Babysitters / Nannies online and the urban sitter will use the online channel in all over Cyprus. It would be beneficial for pulling the attention of the bulk of customers. This channel would also enable the company to directly deal with the end-users. Thus, it can be evaluated that direct interaction with the consumers will have offered the chances to gain the demand of consumers in a targeted time period (Norton, 2017).

Babysitters / Nannies online and the urban sitter will endorse their services via digital media channels so that it would be effective to influence the high amount of consumers. In such a way, it can practice several social media techniques such as Facebook, Twitter, and YouTube. Promotion strategy can be effective for the company as it would aid to improve the financial position and productivity of a company (Thomas, et. al., 2018).

Babysitters / Nannies online and the urban sitter will use the given below procedure to implement the marketing objectives:

Babysitters / Nannies online and the urban sitter will predict EUR 5,000,000 to promote the services and also generates awareness between nannies of the company. In addition, this company will develop a market survey before expanding the business as it would be effective to address the need of customers (Gonzalez-Padron, 2017).

Babysitters / Nannies online and the urban sitter will initiate to interact with the consumers through digital communication sources. It would be effective to generate awareness between large numbers of consumers regarding the nannies for kids care. It would apply certain social media modes like e-mails, Snapchat, Instagram, Facebook, Twitter, and LinkedIn. This phase will support the company to meet the marketing objectives (Zeng and Honig, 2016).

Babysitters / Nannies online and the urban sitter will collect the feedback through the consumers with respect to their experience with nannies. It would be beneficial for avoiding the concerns that have created in services. Thus, it would be beneficial for Babysitters / Nannies online and urban sitter to enhance the service quality in long-run (Barrow, 2016).

In this phase, Babysitters / Nannies online and the urban sitter will aid to make a decision about unfavorable comments that have collected through consumers. In such manner, the company can make an effective strategy to avoid the unfavorable comments. Thus, it would be effective to gain the revenue of a company in Cyprus market (Thomas, et. al., 2018).

A marketing manager can maintain the record of marketing activities as well as can record the different aspect of initiatives like generate responses, media used, timing and cost of promotion and return on revenue.

Babysitters / Nannies online and urban sitter can take the feedback via consumers for assessing the favorable and unfavorable aspect about online nannies. By acquiring feedback through consumers, the company can make the required modification and then execute their plan (Seraphin, et. al., 2016).

It is assessed that return on investment is a key element to assess this marketing plan. For this, Babysitters / Nannies online and the urban sitter will evaluate whether a large amount of money is spending on this plan. It can also assess the amount which would be spent on the marketing practices (Gagi?, 2016).

Babysitters / Nannies online and the urban sitter will also assess the responses of rivalry to measure the failure or success of a marketing plan. In such way, a corporation can assess that how much rivalry has imitated and made their efforts to provide the finest services (Fine, 2017).

References

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