“Report of the Marketing Objectives and the

Marketing Mix Strategies for NeoRhythm”

BHO 1171 INTRODUCTION TO MARKETING

PREPARED FOR: Ms. Haslinda

PREPARED BY: Tan Hui Nee 4625834

Tan Xin Ting 4625841

Ang Jie Qi 4627792

TUTORIAL GROUP: Tutorial 3 - Tuesday, 12.30 PM - 1.30 PM

DATE OF SUBMISSION: 6 May 2020

Table of Contents

1
No. Content Page.

1. Introduction ……………………………………………………………………... 3

2. Marketing Objectives …………………………………………………………… 3

3. Marketing Mix Strategies

3.1 Product …………………………………………………………………….... 3-5

3.2 Pricing …………………………………………………………….……….... 5

3.3 Place ………………………………………………………………....…….... 5-6

3.4 Promotion ………………………………………………………………….... 6-7

4. Conclusion …………………………………………………………………….... 7

5. References ………………………………………………………………………. 8-9

1. Introduction
The objective of writing this report is to develop a marketing strategy and also the
marketing mix strategies for NeoRhythm, a medical-grade wellness device. NeoRhythm is an
electronic headband which helps to reduce stress, restrain pain, improve sleep quality,
strengthen mental capacity etc by stimulating specific brain areas using electromagnetic

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waves. This electronic device also provides the users an unique experience in which it is easy
and convenient to use as gesture control is supported. Besides, the headband is able to
connect with the NeoRhythm App that can be downloaded through the user’s smartphone in
order to select other modes and track on users’ health.
The related theories that will be discussed in this report are the marketing objectives as well
as the marketing mix strategies. In this case, marketing objectives can be defined as the
actions that can be taken by the team within the company in order to achieve the marketing
goals (Nerea 2020). The marketing mix on the other hand can be referred to as a marketing
tool which is made up of product, price, place, and promotion (4Ps) for a company to be
implemented in the marketing strategy (Alice 2020).

2. Marketing Objectives
In order to achieve the company goals, marketers need to determine and set out an objective
which consists of SMART criteria where it should be specific, measurable, actionable,
realistic and time-bound (Sharp 2017). This objective will serve as a guide for the company
to implement the marketing plan smoothly and failing to do this will result in failure for the
company to introduce the new product into the market.
The marketing objective in implementing the marketing plan is to launch the new product
NeoRhythm within the area of Klang Valley and at the same time penetrate 20% of middle
income working adults in 2 years time starting from 2020 to 2022.

3. Marketing Mix Strategies

3.1 Product
According to Patrick (2016), the lifestyle of employees in Malaysia has changed as
there is an increase in the working hours which leads to the problem such as having
poor quality of sleep, increasing stress and tired eyes. Therefore, there is a need to
introduce NoeRhythm to the target customers in order to solve these problems.
Product can be defined as anything that a company can offer to a market for the
fulfillment of customers’ needs and wants (Umar 2018). In this case, the product that
will be offered into the market is NeoRhythm wellness headband. The product
NeoRhythm was known to be a discontinuous innovation product where it was being
launched in the market as a completely new product because there are no other similar
products features can be found in Malaysia.

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 The product that is being introduced has the main features of using the
electromagnetic waves to stimulate selected brain areas to solve various problems that
are faced by working adults nowadays. This product comes with different types of
mode selections that target different symptoms which working adults might face.
Besides, this product consists of the features where warm light and gentle vibration
mode are being used to help users to reduce the tiredness of the eyes after long hours
of sitting in front of the computers. Moreover, this device can be connected to the
user’s smartphones through Bluetooth connection where users are able to answer
phone calls and play music with gesture controls that provide convenience and
entertainment to the users. Research has shown that music could improve a person’s
mood which helps lessen a person’s anxiety and stress (Dave 2011). Therefore, these
features will further help to release the stress and anxiety that working adults face
nowadays. Customers are able to customize the design of NeoRhythm where
preferred colour can be chosen and engraving is available on the product.
When customers purchase this medical-grade device, NeoRhythm headband will not
only be provided, it will instead come with a box which consists of a QR code quick
start guide, wireless charging dock, unique NeoRhythm covered bag, adjustment kit
and warranty card where customers will be given one year of warranty. Meanwhile,
NeoRhythm has a white packaging which does not consist of much design that makes
the products look clear and simple while high-end materials being used for the
packaging are able to bring a good impression to customers that the product was
luxurious and made with high quality.

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3.2 Pricing
The second element in marketing mix (4Ps) which is price is also crucial as Mayuri
(2020) stated that, company’s revenue interferes directly with the price element in the
marketing mix. Price can be defined as the amount of money that customers give up
for the exchange of goods and services (Maximilian 2015). According to Alexandre
(2010), setting an appropriate pricing for a new product being launched into the
market is an important factor that a company should take into consideration as it
determines whether the product will be successfully launched into the market.
As a medical-grade device, the price of NeoRhythm was being set for RM1,841
which is considered expensive. Value based pricing was being used in setting the
price of this product where it was set based on the buyers’ perception on how much
they believe the product is worth (Stephan 2017). The reason is because NeoRhythm
was a completely new innovative product where there are no similar products that can
be found in the market that have the same features as NeoRhythm. Hence, customers
could find value in the product and thus a higher price where RM1,841 can be set for
this new product.
The price set for this product was also based on the affordability of the targeted
middle income working adults who have a minimum monthly income that ranges
between RM4,000 to RM10,000 (Melissa 2014). Therefore, this has shown that the
price for NeoRhythm is affordable by the middle income working adults.

3.3 Place
The third element in marketing mix (4Ps) is place. Place can be defined as the
location in which products and services are placed by the company in order to gain
consumers' purchases (James 2015). Business-to-Consumer (B2C) distribution
channel that involves producers, retailers, and customers have used to distribute
NeoRhythm into the market. Consequently, retailers play an important role in this
distribution channel where it is able to increase exposure and widespread the
distribution of products directly to the end consumers (Hitesh 2019).
The product NeoRhythm is planned to be sold in Harvey Norman within the area of
Klang Valley where targeted customers are able to purchase the product through
physical stores as well as on online websites. It was found that Malaysia has a total of
twenty-three Harvey Norman outlets while within the area of Klang Valley have

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thirteen outlets which is considered a lot (Harvey Norman 2020). Therefore, by
distributing NeoRhythm in the physical stores of Harvey Norman, the targeted
customers are allowed to try out the function of the product and thus build confidence
in purchasing it.
Besides the physical store of Harvey Norman, the targeted customers are also able to
purchase NeoRhythm through its online website. According to a research conducted
by Syahirah (2019), it showed that working adults who have a hectic lifestyle prefer
to shop online as it is much more convenient compared to visiting a physical store that
is time consuming. Therefore, by selling the product through the sites of Harvey
Norman, the product is able to sell to the targeted customers easily. To sum up, in
order to target specific customers which in this case was the working adults group, it
was crucial for the company to consider the distribution of products in both online and
physical stores outlets.

3.4 Promotion
The last element in marketing mix (4Ps) is promotion. Promotional strategy refers to
the methods that businesses used to advertise and market the product toward the target
market in order to enhance the sales and achieve company goals (Acutt 2015). An
effective promotion allows companies to build awareness, provide sufficient
information, create interest and motivate target customers to purchase the product
(Martin 2014). Therefore, it is crucial to have a proper selection of the method to
promote a product into the market.
The product NeoRhythm is a new product where starting small by advertising using
social media would be the perfect choice as advertising through social media requires
a lower cost where it can be easily reached towards a huge amount of people (Uchechi
2015). Consequently, Facebook would be the right choice to advertise NeoRhythm as
it is the largest and most popular social media platform in the world where there are
24 million Facebook users in Malaysia (Kemp 2020). Meanwhile, statistics has shown
that 79% of Facebook users between the age from 21 to 44 are working adults (Lim
2018). Hence, advertising by using social media platforms such as Facebook allows
NeoRhythm to reach the target customers which are middle income working adults.
Furthermore, advertising the product NeoRhythm by using Facebook is the most
effective way as statistics have shown that 62% of the customers who discover the
products and brands on Facebook would purchase after discovery (Lee 2016).

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 Meanwhile, by using Facebook to advertise, it allows the targeted customers to access
the product easily while assisting in sending the customers directly to the Harvey
Norman websites. Overall, the marketing objectives of 20% penetration can be
achieved by the increment of sales through Facebook advertising.

4. Conclusion
In conclusion, by achieving the company goals, it is crucial for marketers to come
out with the correct marketing objectives that are fulfilled with the SMART criteria in
order to implement the right marketing mix strategies (4Ps).
In this case, the right set of marketing mix strategies (4Ps) have been used. First,
NeoRhythm is a medical-grade device with unique functions and features being
launched into the market in order to fulfil the demand of targeted customers. Second,
the price for NeoRhythm is set after the consideration of the affordability of the target
customers which are working adults who have a middle income level. Third, Harvey
Norman within Klang Valley has been chosen as the strategic location to sell
NeoRhythm. Last but not least, the appropriate promotion method which is Facebook
has been used to advertise NeoRhythm to increase sales.
Overall, by using the right set of marketing mix strategies (4Ps), it allows the
product NeoRhythm to achieve the marketing objective by obtaining a penetration of
20% of middle income working adults within Klang Valley in 2 years time starting
from 2020 to 2022.

1650 words

5. References

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