Tapplock Company provides best security services that enable safety anywhere in England. The biometric security package is what is bringing this strategy issue thus to show how it can change into a profitable diversity, the name of the new product/services will be Tappbox. It works differently as it uses a physical password to secure personal value. Tappbox doesn't just give you biometrics technology but Bluetooth functions and other technology in it. The target on the market is student and construction workers plus companies. The construction workers are our first target. From 2012 to 2017 in Canada, industry revenue has been gradually increasing to 8.1 % for there has been construction expansion. And as manufacturing is increasing from 7.2% to $4.1 billion over the five years as the domestic population is expanding and becoming urbanized (Palmer, DeCarlo & Kalyani, 2017). If construction companies accept they become direct users of the product thus increasing revenue and also helps in gaining new retailers. The best target market for Tapplock to increase sales by 25% at the end of 2018 is targeting on construction workers in Canada who needs high-security biometric functions, easy adaptors, and convenience to protect their tool of greater value. Due to Construction Tapplock is a major industry in Canada, employing at least 1.2 million people and still growing every year. The other target is the students within universities and colleges. Statistics show that in 2016, 1.7 million students and around 1.05 million are full time. Also, 1,574,200 jobs were created for university graduates as from March 2008 to March 2017 which means that the student provides employment to around 250,000 people (Universities Canada, 2017). Due to high numbers of foreign and local students, the Tappbox will still have a high number of users as it is known students require simplicity and that's what Tapplock is giving as Tappbox product. With all these facts, supports that Diversification of Tapplock to a more than one product. Our first method of creating awareness is to give few people the product and experience it. Then create adverts that will be spread through YouTube which also means to have reviews and higher advocates for the brand and product line.
References T. Palmer, J. DeCarlo and D. Kalyani, 2017: fastest Growing Canadian Industries Based on Size, IBISworld; Universities Canada; 2017; Facts and Stats: www.univcan.ca/universities/facts-and-stats/ www.ibisworld.com/media/2017/06/05/fastest-growing-canadian-industries-based-on-size/
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