Develop a marketing plan for Nedeco Electronics Ltd - Cockpit a Smart Home Solution

Abstract

The thesis scope is to develop a marketing plan for Cockpit wireless home automation that intends to enter the Cyprus market. Home automation system allow users to control their home electrical appliances remotely with the use of a software application. Smart home software application features are still growing by using the internet of things technology. The company is providing telecommunication services within Cyprus market using the latest technology achievements. Nedeco Electronics Ltd used to work with B2B customers and marketing plan does not really exist for B2C. Social media and digital marketing, changes the way companies are selling their products. Quantitative data were used for this thesis analysing consumers needs and the Cypriot market. Furthermore, survey questionnaires from 44 responders were used in order to collect quantitative data. Based on these findings a marketing plan was created. The marketing plan provided will help the company to increase its awareness regarding the consumer market. Increasing company visibility will also help for promoting and reaching the targeted audience. The thesis consists of the theoretical part which gives an overview of the existing market wireless home automation technology solutions. Also, a comparison of ZigBee, Wi-Fi, Bluetooth, Z-Wave and EnOcean smart home communication technologies is presented, taking into consideration that low power consumption and energy saving is a mandatory feature for smart home systems. Further to the theoretical part, an analysis of the Cypriot market is shown. An overview of the company is presented in marketing mix, 4P, PESTEL and SWOT analysis. Cypriot market is not educated enough about the benefits of smart home solution. A marketing plan for Nedeco Electronics Ltd about Cockpit wireless home automation system is proposed for one year which is based on the findings of this research. The data collected from survey questionnaires as well as from the literature review showed that wireless home automation solution is a promising product and service solution that can increase sales and company profits. Nedeco Electronics Ltd must be very careful in its current marketing actions in order to efficiently optimise the necessary businesses operation activities.