Marketing Plan Assignment 4 ALL ANSWERS 100% CORRECT FALL-2021/2022 SOLUTION GUARANTEED GRADE A+

Executive Summary: The Parrot Drone Company has always been in tough competition with cheaper priced, and decent quality drones which made it tough for this company to gain sales and loyal consumers. However, after alterations made to the Parrot Disco FPV Drone and its pricing, it is now projected to be the leading drone sold on the market in the United States. It is swiftly developing more of a consumer brand and growing customer base. It is the first easy-to-fly and fixed-wing drone that has been designed for a flight experience that is fully immersive. The Parrot Disco has proven to be powerful and ultra-lightweight with the ability to reach 50 mph alongside the flight time of 45 min. For today’s model aircraft enthusiasts, they will also have the ability to fully pilot this fixed-wing drone from their controller completely using the featured manual mode. With this unique design and performance capabilities, the Parrot Disco FPV offers all customers and consumers the possibility of having an immersive flight experience with or without having any type of technical knowledge. With a starting MSRP of $1,498.99 due to manufacturing costs and product expenses, the Disco FPV will start at a selling price of $899 experiencing about a 30% price drop for initial sales. This will help the drone to enter the UAV (unmanned aerial vehicle) market enticing customers and consumers with highly competitive prices for an immense quality product. With most other drones starting at $1,199 selling price, the Parrot Disco FPV will be able to capitalize on its own low selling price and maximize its position on the market. With predictions of the drone market almost doubling again to surpass $11 billion by the year 2020, the Parrot Disco will have doubled its sales for the next two years in the United States alone with proper budget management and quarterly reports obtained to manage the marketing performance. The objective of having a 100% sales increase will be supported through the marketing of the drones to the agricultural industry where drones have an increased market activity. By converting farmers from traditional scanning techniques to drone usage, the number of sales should increase to the set goal amount. Situation Analysis (+SWOT): SWOT ANALYSIS: PARROT DISCO FPV DRONE Positive Environment Negative Evaluation Internal Strengths 1. First person view with flight immersion 2. Equipped with intelligent navigation and long lasting battery life up to 45 minutes. 3. Precise and assisted piloting features including an autopilot system for safer flying and obstacle evasion 4. The Parrot Disco drone has a 1080p Full HD camera, which is mounted frontally with 3-axis stabilization with a range of 1.2 miles. 5. High startup costs for new competitors. Weaknesses 1. Price drop from $1498.99 to $899.99 2. Losing control of the Drone 3. Competitors can offer similar product 4. Some competitors are better known. 5. Unfamiliar service with minimal advertisement to population within US due to its base in France/Europe External Opportunities 1. Products sold in the Canadian market for an increasing global impact. 2. French drone maker following up on its plans to shift away from consumer drones with a new Pro line rebranding a couple of its existing UAVs for commercial use. 3. Being used as delivery services (Amazon) 4. 3D capability with ability to increase agricultural and construction site monitoring 5. Can be used for multiple business purposes and applications. Threats 1. Government regulations could have an impact. 2. Product could be used for unlawful purpose. 3. Supply costs increase. 4. Cyber attacks. 5. Competitors reducing prices but maintaining quality. Overall Market Analysis: The drone market is growing. Globally, drone unit sales grew an estimated 60 percent last year to 2.2 million, and revenue grew 36 percent to $4.5 billion, per research firm, Gartner (). Supply costs are increasing and inflation is a concern. Government regulations can also have a negative impact as well. In the USA and Europe drones aren’t allowed to fly more than 400ft in the air. However, it is difficult for new competitors to enter the market because of high startup costs. Growth is expected to continue, though it is decelerating. Globally, the market for drones is projected to grow to almost three million units and more than $6 billion in revenue this year, according to a February forecast from Gartner. That represents 39 percent unit growth and 34 percent revenue growth over 2016 (). Parrot has been having trouble keeping up with competitors for the drones in the $500-1000 price range and has laid off a third of its drone division. Parrot’s products are more reasonably priced and are a possible alternative to more expensive drones. By 2020, Gartner predicts the drone market will almost double again to surpass $11 billion. The FAA, meanwhile, expects the total U.S. fleet of hobbyist drones to more than triple to about 3.4 million by 2020, up from 1.1 million last year, with the most rapid growth over the next two years, and it expects the smaller fleet of commercial drones to grow by 10 times over that span. () Parrot has a chance in the smaller commercial drone market against competitors such as Aeryon Labs and Insitu. Competitors: As there are many companies out there competing for spot to shine in the drone industry, some competitors of the Parrot Disco FPV are DJI Phantom 4 and GoPro Karma. A weakness that comes with the DJI Phantom 4 is that not all users, especially first-time users, will be able to control the drone and understand how to fully work it with all the different functions it has to offer. The DJI Phantom 4 also has the price highly set at $1,399 with very limited flexibility in pricing so customers might be looking at different competitors who can offer a similar product but for a more affordable price. Customers: