PRODUCT

Name of the Product : INNOVATRICS (Biometric ATM)

Features : The chief feature of INNOVATRICS are -: * Security (Secure Transactions ) * Easy to operate * Time Saving * Self Maintenance function * wider Connectivity Packing, Logo & Tagline : As we have a product which required safety in transportation & delivery so we adopt a method which also be adopted by the Electronic manufacturing Co.s. We have used Cardboard packaging Boxes & high quality of Padding to protect the machine from any kind of damage

during the transportation process. As primary objective of packaging is the safety of the product.

The Logo of our product is -

The Tagline of our Product is

CASH TO GO
The Segment & Target marketing : An Automated Teller Machine (ATM) is a computerized device that enables banks and its customers to carry out limited financial transactions at public locations; negating the requirement of a manual support. ATM facilitates customers to access their bank and credit card accounts to make cash withdrawals and cash advances (for credit cards), generate account statements, transfer money, and (now a days) make card-less transfer of money. Further, ATMs can be used to deposit cash, pay routine bills, print statements, process cheques , recharge mobile phone, etc. The ATM density in India is far lower than that of the other developing countries . So we are adopting the B2B(Business-to-Business) marketing technique and our target customers are mainly Banks.

PRICING
Pricing Strategy : We are adopted the Skimming Pricing Strategy for our product. INNOVATRICS is totally new & innovative concept of Biometrics ATM. We are the only player in this category, so we also have the competitive advantage for the same also. Pricing Objectives: Our primary pricing objective are
maximize long-run profit maximize short-run profit increase sales volume discourage new entrants into the industry match competitors prices obtain a target rate of return on sales company growth

Price Sensitivity: We are basically targeted at entry level banks. It will also be an ideal option for banks which want to expand their network in semi urban and rural areas where transactions through ATMs are estimated to be low. In this case price sensitivity is very low. Demand of our product is surely elastic but as the product is innovative and having a new concept and also have few competitors so it will not affect the demand of our product much.

Competitor Analysis:

NCR has an over 30 per cent share in the Indian market, with over 8,500 ATMs installed in India. NCR has installed 680 ATMs in Gujarat so far and is eyeing untouched urban cooperative banks in association with Kores (India) Ltd. Our prime focus is on co-operative and private banks that are planning expansions. INNOVATRICS ATMs costs Rs 5.5 lakh, while other machines cost Rs 8 to 10 lakh. Moreover, INNOVATRICS machines do not require air conditioning and sophisticated cabins like foreignmade ATMs. INNOVATRICS also provides 3 free services as an additional benefit to their customers.

Distribution
Value Network: INNOVATRICS value networks explained by the following fig. -

Level of Channels: For INNOVATRICS One-Level channel would be appropriate. As INNOVATRICS targeting all kinds of Banks and they are quiet large in number, So an intermediary is required for the smooth functioning of distribution process. These are basically the industrial intermediary who distributing or providing information to the industrial customer.

INNOVATRICS plans to adopt Selective distribution, as the no. of Banks are very large and to facilitate all of them we are required to have at least few distributors at different geographic areas. At the introduction or starting phase of our product we have arranged few distributors but as the sales volume and demand of the product rises we certainly increase the no. of distributors.

PROMOTION
Target Audience: Our target audience are all kinds of Banks whether they are private, public, co-operative or industrial bank. We are also looking forward for those banks who want to expand their network into rural areas as well. Promotional Appeal is that our product provides high quality secure transaction and it saves the valuable time of customers.

Objective of Promotion: Build Awareness - As our product is new so we want to tell the market that who we are, and what actually we want to offer. Create Interest By showing the various new and innovative feature of our product we want to create interest in our product for the prospective customers. Provide Information Provide true and genuine information about the product and its features.

Type of Advertisement: We adopt Print Media for the promotion of INNOVATRICS. In Print Media we select to advertise through specific magazines(Business, Banking) & selected newspapers. Promotional Tools: We use Direct Marketing as promotional tool because we target only Banking sector and to provide them the detail information about the product we have use Direct marketing. As the chief feature of our product is that it helps in quick and secure transaction, we also

demonstrate these features in front of our prospective customer through which they can easily recognize its benefits and effectiveness.