I came across a classmate’s blog titled “The Advertising Game App” which I thought was rather fascinating and would like to analyze TimePlay’s ingenious marketing Strategies. I fully agree with my classmate in that TimePlay Inc did a phenomenal job of implementing an innovative technology that allows it to differentiate themselves from the various competitors in the marketplace. One of the most challenging task for any competitor is to create a need-satisfying market offering that no other competitor has experimented with and using the popular blackberry and iphone smartphones that 449 million people own worldwide as the platform is ingenious as it makes this technology easily accessible. TimePlay’s new creation is to be applauded from a marketing perspective for multiple reasons:
There are 4 key aspects to a Marketing Strategy that TimePlay Addressed:
- Market Segmentation: First of all, TimePlay clearly selected an excellent market segment to focus on. The market consists of numerous types of customers and needs but the marketer needs to decide which segment offer the best opportunities and in this case it proved to be the individuals who frequently watch the latest films at the cinema.
- Market Targeting: TimePlay has chosen to market to those who watch movies at the theatre and own a smartphone such as an iphone, which is clever as many individuals own a smartphone due to their cutting-edge technology.
- Positioning: TimePlay is the first to introduce this new technology that is critical in brand positioning as the company will be remembered first in the minds of target customers and later down the road if the company chooses to capitalize on their technology. Positioning is the main reason why consumers will be willing to pay a little more for TimePlay’s brand as oppose to their competitors.
- Differentiation: I absolutely agree with my classmate in that TimePlay has introduced a new technology that offers value to movie watchers as no other competitor offers the same benefits. As my classmate mentioned, many people (including myself) become restless and irritated by the long commercials shown at the theatres.
The 5 Characteristics TimePlay Possesses which will increase the rate of adoption for their technology:
In addition, TimePlay has relative advantage as this innovation is superior to existing products. It is highly compatibleas all smartphones can easily access this app and in regards to complexity, it is relatively simple to use and understand. It is easy to communicate this technology to friends and family and last but not least, TimePlay nailed divisibility as the app is completely free for anyone that owns a smartphone. Due to all of these reasons, the rate of adoptability is substantially high. Subsequently, this is a technology I personally envision expanding and increasing in popularity in the near future as both my classmate and I recognize phenomenal potential and value in this technology.
* Other marketers trying to enter the market should emulate how TimePlay considered all factors that could affect their technology.
